File of Apple supplier Foxconn after shares fall on report of China tax audit, land use probe

Record ID: 1983276

  • Title: File of Apple supplier Foxconn after shares fall on report of China tax audit, land use probe
  • Date: 23rd November 2022
  • Summary: NEW TAIPEI, TAIWAN (FILE - JULY 11, 2023) (REUTERS) EXTERIOR OF FOXCONN HEADQUARTERS FOXCONN LOGO VARIOUS OF FOXCONN ELECTRIC BUS PULLING INTO DRIVEWAY OF HEADQUARTERS BUS PARKED IN FRONT OF BUILDING, WITH WORDS READING (English and Chinese): "HON HAI PRECISION IND. CO., LTD." SIGN READING (English and Chinese): "HON HAI PRECISION IND. CO., LTD." PEOPLE ENTERING BUILDING B
  • Embargoed:
  • Keywords: Apple Apple Inc Apple supplier China Foxconn Henan province Zhengzhou audit factory factory workers iPhone probe tax workers
  • Location: ZHENGZHOU, CHINA / NEW TAIPEI, TAIPEI, TAIWAN
  • City: ZHENGZHOU, CHINA / NEW TAIPEI, TAIPEI, TAIWAN
  • Country: China
  • Topics: Asia / Pacific,Company News Markets,Economic Events
  • Reuters ID: LVA001158323112022RP1
  • Aspect Ratio: 16:9
  • Story Text: Shares in Taiwan's Foxconn, a major supplier of Apple's iPhones, dropped as much as 3% on Monday (October 23) after a report the company is the subject of tax audits and land use probes in China just months ahead of a Taiwanese election.
    China's tax probe of Foxconn is unusual and the company was possibly singled out for "political reasons," two sources close to Foxconn told Reuters on Monday, after the Chinese state-backed Global Times said the firm was the subject of tax audits and land use probes.
    The paper said China's natural resources department had also conducted on-site investigations on the land use of Foxconn enterprises in Henan and Hubei provinces and elsewhere.
    Foxconn said in a statement on Sunday (October 22) that legal compliance was a "fundamental principle" of its operations everywhere, and that it would "actively cooperate with the relevant units on the related work and operations". It declined further comment on Monday.
    (Production: Pedja Stanisic, Fabian Hamacher, Xihao Jiang)
  • Copyright Holder: FILE REUTERS (CAN SELL)
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