Taipei, May 30 (CNA) Hon Hai Precision Industry Co., the world's largest contract manufacturer of consumer electronics, plans to enhance its strategic partnership with leading global brands to overcome the challenges of economic uncertainties this year, according to its report to shareholders.
Hon Hai's annual report published Wednesday showed that the group achieved record revenue of NT$3.45 trillion (US$116.08 billion) and net profits of NT$81.59 billion in 2011, up 15.2 percent and 5.75 percent respectively from the previous year.
Describing 2011 as a challenging year, Hon Hai said it dealt with a changing industry by expanding investments and through strategic alliances.
It also took actions in response to the changing business environment, including a large-scale expansion of its operations to inland Chinese regions, the company said.
Despite the huge economic uncertainty, the company said, it is confident of continued growth through reliance on its self-developed eCMMS (Electronic Component Module Move and Service), a highly integrated manufacturing model.
The company said it will also meet its social responsibility through its efforts to raise the wages of its employees and cut their overtime.
Hon Hai plans to hold its shareholders' meeting on June 18, according to the Market Observation Post System of the Taiwan Stock Exchange.
(By Chung Jung-feng and Kay Liu)