FIT HON TENG Shares Surge Over 6% Again on Strong April Sales from Parent Foxconn

Stock News05-06

FIT HON TENG (06088) rose more than 6% again. At the time of writing, the stock was up 5.85% to HK$8.51, with a turnover of HK$182 million. The positive movement follows news that on May 5th, Foxconn, a major partner of NVIDIA, reported a 29.7% increase in April revenue, highlighting continued strong spending on key AI hardware. Foxconn's April sales reached NT$832.1 billion (approximately US$26.3 billion), setting a new record high for the month. Analysts on average expect Foxconn's second-quarter revenue to grow by 30.4%. Within the April revenue structure, the "Components & Others" and "Cloud & Networking" categories showed the most significant performance. Foxconn attributed this in its report to "strong shipment momentum for AI cloud products," noting significant growth both month-on-month and year-on-year. In a statement on Tuesday, Foxconn indicated that the second quarter is the traditional off-season for the ICT industry, with major products being in a "transition period between old and new models." However, the company provided a key assessment—stating that "only AI server racks will maintain a growth trend." Based on current visibility, the company anticipates its second-quarter performance will show sequential and year-on-year growth. Amid fluctuations in the global political and economic landscape, this assessment serves as a critical window for observing the true strength of demand in the AI supply chain.

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In a statement on Tuesday, Foxconn indicated that the second quarter is the traditional off-season for the ICT industry, with major products being in a \"transition period between old and new models.\" However, the company provided a key assessment—stating that \"only AI server racks will maintain a growth trend.\" Based on current visibility, the company anticipates its second-quarter performance will show sequential and year-on-year growth. 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In a statement on Tuesday, Foxconn indicated that the second quarter is the traditional off-season for the ICT industry, with major products being in a \"transition period between old and new models.\" However, the company provided a key assessment—stating that \"only AI server racks will maintain a growth trend.\" Based on current visibility, the company anticipates its second-quarter performance will show sequential and year-on-year growth. 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