Foxconn venture capital sold 630000 shares of Alibaba ads and made another profit of 120 million US dollars

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[techweb] on October 10, according to the documents submitted to the exchange on October 9, Foxconn ventures, a subsidiary of Foxconn ventures, sold 630000 shares of Alibaba’s ads on October 8. The trading price of each ads was $295.84, and the total trading amount was 186.38 million US dollars (about RMB 1.25 billion yuan).
According to the announcement, according to the cost of acquisition, Hon Hai has realized an interest of nearly US $121 million, of which US $67.977 million has been transferred into the undistributed surplus in 2019 according to the provisions of International Financial Reporting Standards No. 9, and the remaining evaluation benefits of nearly $52.759 million will be recognized in this year.
In 2007, Hon Hai, as a cornerstone investor, subscribed for 2.9% of Alibaba’s shares, which had just been listed in Hong Kong, for HK $271.6 million, at a price of HK $13.5 per share.
Last year, Hon Hai has reduced its Alibaba holdings by more than 3.5 million shares twice.
On March 21, 2019, Hon Hai announced that Foxconn Venture Capital Holdings Co., Ltd., a subsidiary of the company, had sold its 2.2 million Ali shares on March 20, at a price of $181.1 per share, totaling $398 million.
On December 13, Hon Hai Group announced again that its subsidiary, Foxconn venture capital holdings, sold 1.338 million ADSS, or 10.077 million ordinary shares, of Alibaba on December 12. The transaction price was US $203.82 per ads, with a total transaction amount of $272 million. According to the cost of acquisition, Foxconn venture capital realized a profit of 133 million US dollars, about 929 million yuan.
Now, after reducing its shares three times, Hon Hai has only 630000 shares of Alibaba, with the proportion of Alibaba shares reduced to 0.02%.