Apple supplier Foxconn, officially known as Hon Hai , said it will cooperate with Chinese authorities on investigations, following a report that officials are conducting tax audit inspections and reviewing land use of Foxconn subsidiaries.
State media Global Times reported on Sunday, citing unnamed sources, that multiple offices of Hon Hai's subsidiaries across China had been subjected to tax audits and on-site investigations into land use.
Hon Hai Technology Group is the world's largest contract electronics manufacturer.
"Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group (Foxconn).
Hon Hai's Taipei-listed shares fell 3.29% in early Monday morning trade.
Persons:
Hai, Hai's
Organizations:
Foxconn, Global Times, Hai Technology
Locations:
China, Hai's Taipei