07.10.2001
Hon Hai’s June revenues were up

• Development: Hon Hai posted June revenue of NT$10.6bn, up 12% MoM, sending YtoJune revenue to reach NT$61.5bn, up nearly 90% YoY.

• Analysis: The rise in June revenue is largely attributed to increases in outsourcing orders from Compaq. Hon Hai is set to become largest privately-held company in Taiwan with current year revenues exceeding NT$150bn.

• Primasia View: We believe Hon Hai’s strong revenues have already been factored into its premium share price. We fail to see attractive upside potential at this level.

VincentChen@Primasia.com +886-[0]2-2547-8868