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FIH Mobile Limited (2038.HK)

HKSE - HKSE Delayed Price. Currency in HKD
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0.8700.000 (0.00%)
At close: 4:08PM HKT
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Neutralpattern detected
Previous Close0.870
Bid0.860 x 0
Ask0.870 x 0
Day's Range0.860 - 0.890
52 Week Range0.760 - 1.630
Avg. Volume18,830,781
Market Cap7.086B
Beta (5Y Monthly)1.52
PE Ratio (TTM)N/A
EPS (TTM)-0.012
Earnings DateNov 11, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 29, 2017
1y Target Est0.29
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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      (Bloomberg) -- The Commerce Department announced further restrictions on Huawei Technologies Co. aimed at cutting the Chinese company’s access to commercially available chips, the latest move in an increasingly tense relationship between the world’s two biggest economies.The changes, which the department announced in a written statement on Monday, build on restrictions announced in May, adding 38 Huawei affiliates in 21 countries to an economic blacklist as the U.S. seeks to limit adoption of the company’s 5G technology.“We don’t want their equipment in the United States because they spy on us,” President Donald Trump said Monday in an interview on “Fox and Friends.”The move is the latest tit-for-tat in escalating tensions between Washington and Beijing over everything from the origins of the Covid-19 pandemic to China’s increasingly tight grip over Hong Kong. Despite the U.S. decision, Commerce Secretary Wilbur Ross said on Fox Business that talks with China continue on various levels.The restrictions are likely to further hit both Huawei’s 5G base stations and smartphone businesses because it relies heavily on foreign chips to make those, further denting China’s ambition to play a key role in global rollout of 5G technology. Huawei’s stockpiles of certain self-designed chips essential to telecom equipment will run out by early 2021.Nokia Oyj and Ericsson AB stand to benefit from Huawei’s further faltering in its 5G prowess, while domestic smartphone rivals including Xiaomi, Oppo and Vivo are likely to get a bigger pie of the Chinese market.Ross said the action was aimed at closing loopholes the company explored after previous U.S. actions. Secretary of State Michael Pompeo praised the move as a “direct blow” against the Chinese Communist Party.Shares of Huawei suppliers dropped sharply in Taiwan Tuesday morning after the U.S. announced the new curbs.A Huawei spokesperson said Tuesday that the company was still reviewing the impact internally and that it had no immediate comment. China’s Foreign Ministry didn’t immediately reply to a request for comment sent via WeChat. Huawei has long rejected accusations that its technology can be used to spy on foreign nations or companies. All chip companies working for Huawei, no matter where they are, will be subject to licenses, a Commercial official said, adding that even foreign companies will be affected as long as they use U.S. design software and equipment.That means major Asian and European chip companies such as MediaTek Inc., Samsung Electronics Co., NXP Semiconductors NV, and STMicroelectronics NV may need a license to continue shipping to Huawei, though the official declined to name any specific company.There are few semiconductor companies in the world, including those in China, that do not rely on software from U.S.-based Synopsys Inc. and Cadence Design Systems Inc. to create blueprints for chips. Many companies that make physical chips, including China’s own Semiconductor Manufacturing International Corp., use equipment from U.S.-based Applied Materials Inc. and Lam Reserach Corp.‘Significant Disruption’Among Synopsys and Cadence’s customers, Taiwan’s MediaTek has become a main chip provider to Huawei after Taiwan Semiconductor Manufacturing Co. said it will no longer ship chips to the Chinese company after Sept. 15. That’s due to the U.S.’s export-control rules added in May, which forbade companies from making chips based on Huawei’s design using American equipment.John Neuffer, the president and chief executive officer of the U.S.’s Semiconductor Industry Association, said the rule “will bring significant disruption” to the sector.“We are surprised and concerned by the administration’s sudden shift from its prior support of a more narrow approach intended to achieve stated national-security goals while limiting harm to U.S. companies,” Neuffer said in a statement. “We reiterate our view that sales of non-sensitive, commercial products to China drive semiconductor research and innovation here in the U.S., which is critical to America’s economic strength and national security.”The latest U.S. restrictions on Huawei are negative for European chipmakers, JPMorgan Chase & Co. analysts said in a note, adding that a key risk for firms such as STMicroelectronics, AMS AG and Dialog Semiconductor PLC is Chinese retaliatory restrictions on major customer Apple Inc.Additionally, assemblers that incorporate Huawei or third-party chips into their devices for the benefit of Huawei will also need to apply for a license, according to the Commerce official. That means Huawei smartphones assemblers, including Hong Kong-listed Foxconn subsidiary FIH Mobile Ltd., may be restricted by the new rules.(Updates with requests for comment, market moves.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • China’s Days as World’s Factory Are Over, IPhone Maker Says

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      (Bloomberg) -- A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company -- known also as Foxconn -- moves more manufacturing to Southeast Asia and other regions to avoid escalating tariffs on Chinese-made goods headed to U.S. markets, Liu told reporters after his company reported financial results.“No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each,” Liu told investors on a conference call, adding that while China will still play a key role in Foxconn’s manufacturing empire, the country’s “days as the world’s factory are done.”Foxconn said in a statement Thursday that, contrary to “inaccurate media reports,” management’s comments during the call did not refer to any specific companies, facilities or products, and were intended to reflect macroeconomic and industry trends.Intensifying trade tensions between Washington and Beijing have pushed device manufacturers to diversify their production bases away from China, and Liu last year said that Apple’s most prized product, the iPhone, can be made outside China if needed. The two nations remain in trade talks, but Liu’s comments affirm a growing expectation that the China-centric electronics supply chain will fragment over the longer term.Read more: Trump Tumult Has Gadget Giants Splitting Along U.S.-China LinesThe Taiwanese company reported better-than-expected net income of NT$22.9 billion ($778 million) for the quarter ended in June, a period that saw increased demand for iPads and MacBooks. Revenue was NT$1.13 trillion, but Hon Hai warned it expects its third-quarter sales will be down by double digits relative to 2019. Apple is expected to delay its iPhone launch this year.Hon Hai is bouncing back from a record profit slump in the first quarter as production at its factories recovered and shelter-in-place orders spurred demand for home computing equipment. The pandemic likely boosted iPad and Mac sales, even as Apple store closures weighed on iPhone sales, Apple CEO Tim Cook said on July 31 after reporting quarterly revenue that crushed estimates. Apple accounts for half of Hon Hai’s sales.Read More: Apple Smashes Revenue, IPhone Estimates on Pandemic DemandEven as Apple outperformed, Hon Hai’s other customers have fared less well. Hong Kong-listed subsidiary FIH Mobile Ltd. said in its Aug. 7 earnings release that while Huawei Technologies Co.’s new phones have been popular in China, they missed expectations elsewhere following U.S. sanctions. Another key customer Xiaomi Corp. suffered a backlash in the Indian market amid growing tensions between China and the South Asian country. FIH lost $100 million in the first half.Foxconn has been shaking up its traditionally China-focused operations. Hon Hai is among Apple assembly partners that plan to expand operations in India, potentially helping the iPhone maker grow its presence in the country of 1.3 billion and shift some of the U.S. company’s supply chain outside of China as ties between Washington and Beijing fray.Chinese rivals are also posing a growing challenge. Local electronics titan Luxshare Precision Industry Co. is poised to become the first Chinese homegrown iPhone assembler after sealing a deal in July to buy an Apple handset production plant from Wistron Corp. While Hon Hai will keep assembly orders for premium iPhones, Luxshare will eat into the business for mid-to-entry-level Apple handsets, Fubon Securities analyst Arthur Liao wrote in a July 23 note.Foxconn will work on its component business to maintain tech leadership and it also benefits from its long-term relationship with Apple, Liu said in response to several analysts’ questions about Foxconn’s competitive strategy against the rising Chinese supplier.Orders could be further affected after President Donald Trump issued an executive order barring U.S. residents from doing business with Tencent Holdings Ltd.’s WeChat. Annual iPhone shipments could plunge 25%-30% if Apple is forced to remove the app from its app stores worldwide, TF International Securities analyst Kuo Ming-chi warned in an August 9 note.(Updates with Foxconn’s statement from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.