Hon Hai Precision Industry (HNHPF) has released an update.
Hon Hai Precision Industry’s consolidated financial statements for the year ended December 31, 2023, have been audited and deemed to fairly represent the company’s financial position in compliance with international standards. The audit highlighted key matters such as the timing of revenue recognition from hub sales, allowance for inventory valuation losses due to product obsolescence, and the impairment assessment of goodwill from the Belkin International acquisition. These areas, critical due to their financial significance and reliance on management’s judgment, were thoroughly examined to ensure accuracy and adherence to financial reporting norms.
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