HNHAF - Hon Hai Precision October revenues down 5.6% sequentially to NT$776.58B Q4 outlook revise down

• Hon Hai Precision ( OTCPK:HNHAF ) reports October revenue of NT$776.58B, down 5.56% M/M but up 40.97% Y/Y.
• Cloud and Networking Products, Computing Products demonstrated significant M/M growth, while Smart Consumer Electronics Products as well as Components and Other Products slightly declined due to a high comparison base.
• Year-to-date revenue was NT$5,441.5B, up 16.89% Y/Y.
• Q4 Outlook : The company's visibility for the fourth quarter was originally "cautiously optimistic", but due to the pandemic affecting some of our operations in Zhengzhou, the company will "revise down" the outlook for the fourth quarter.
• "Regarding Zhengzhou park’s pandemic prevention and operation situation, the Henan provincial government has made it clear that it will, as always, fully support Foxconn in Henan. Foxconn is now working with the government in concerted effort to stamp out the pandemic and resume production to its full capacity as quickly as possible."

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