BEIJING, April 30 (Xinhua) -- Tech giant Foxconn Industrial Internet (Fii) reported a net profit of more than 2.87 billion yuan (426 million U.S. dollars) in the first quarter of 2019, up 8.31 percent from the same period last year.
In a filing to the Shanghai Stock Exchange, the Shenzhen-based company said Tuesday its revenue rose 3.12 percent to 80.12 billion yuan during the period.
The company's net profit reached more than 16.9 billion yuan in 2018, up 6.52 percent year on year, according to its annual financial report.
It had more than 23,000 R&D staff and invested almost 9 billion yuan in research and development in 2018, up 13.43 percent from the previous year.
Foxconn Industrial Internet is a subsidiary of Hon Hai Precision Industry Co. Ltd., which is the world's largest contract electronics manufacturer and a major supplier for Apple Inc. It was listed on the Shanghai Stock Exchange and raised 26.72 billion yuan in June 2018.
