Spotlight Stock: Strong Revenue and Share Buyback Drive Hon Hai Precision's Price and Volume to Yearly High

Hon Hai Precision (2354-TW), a housing manufacturer, reported August revenue of NT$21.867 billion, achieving growth both month-on-month and year-on-year, with a year-on-year increase of nearly 60%, setting a new historical single-month record. Additionally, Hon Hai Precision has been repurchasing its shares since August 7, driving a steady rise in stock price. Today (17th), the stock saw both price and volume surge, reaching a high of NT$69, marking the highest level this year.

Hon Hai Precision opened at NT$65.9 this morning, rising steadily during trading, and hit an intraday high of NT$69, up more than half a stop, reaching a new high for the year. As of 11:30 AM, the stock was trading at NT$66.7, up over 2%, above all moving averages, with trading volume exceeding 19,000 lots. The three major institutional investors have been net buyers for two consecutive trading days, collectively buying 2,940 lots.

Hon Hai Precision's August revenue reached NT$21.867 billion, up 2.07% month-on-month and 58.42% year-on-year, setting a new single-month record. Cumulative revenue for the first eight months of the year reached NT$98.912 billion, down 1.69% year-on-year but the second-highest for the same period in history. Hon Hai Precision benefited from early customer inventory builds, driving strong revenue performance.

Additionally, Hon Hai Precision has been repurchasing shares from August 7 to October 6, planning to buy back 5,000 shares, approximately 0.35% of its outstanding shares, at a price range between NT$50 and NT$83 per share, with a maximum total repurchase amount of NT$9.3997 billion. Since the share buyback began, the stock has risen over 10% in just over a month.