CMB International believes that Hon Hai Group's tax inspecti...

CMB International believes that Hon Hai Group's tax inspection did not put enough pressure on stock prices to protect the fact that its performance and fundamentals were repaired in 3Q23 and 2H23E. New product expansion and automotive electronics business mergers and acquisitions can boost revenue and profitability. Hongteng Precision is also expected to reduce the OPEX ratio at FY23 and gradually return to normal at FY24/25E.