---
endpoint: analytics
pattern: Technology
status: done
latency_ms: 169542
conversation_id: e1bd8ff6-0288-49cc-9852-5eca78b20469
citations: 2
created: 2026-05-31 18:28:20Z
---

# Who are the key shareholders of FII?

**FII = Foxconn Industrial Internet Co., Ltd. (601138 CH)** — the A-share-listed Foxconn subsidiary based in Shenzhen, the world's largest contract manufacturer of servers (incl. AI servers), networking, and industrial-internet hardware.

The ownership structure is highly concentrated: ~80% of the float sits with a constellation of Hon Hai Precision–controlled vehicles, and CLSA estimates the genuine free float at only **~15.8%** [3].

## Top 10 Registered Shareholders (latest annual report, FY2024)

| Rank | Shareholder | Shares | % of Total | Nature |
|---|---|---|---|---|
| 1 | **China Galaxy Enterprise Limited** | 7,293,115,611 | **36.73%** | Offshore legal person (Hon Hai-controlled) [1] |
| 2 | **富泰华工业(深圳)有限公司** (Foxconn Hongfujin Precision Industry, Shenzhen) | 4,364,680,127 | **21.98%** | Domestic non-state legal person (Hon Hai-controlled) [1] |
| 3 | **Ambit Microsystems (Cayman) Ltd.** | 1,902,255,034 | **9.58%** | Offshore legal person (Hon Hai-controlled) [1] |
| 4 | **富士康科技集团有限公司** (Foxconn Technology Group Co., Ltd.) | 1,635,887,159 | **8.24%** | Domestic non-state legal person (Hon Hai-controlled) [1] |
| 5 | **鸿富锦精密电子(郑州)有限公司** (Hongfujin Precision Electronics, Zhengzhou) | 597,861,110 | **3.01%** | Domestic non-state legal person (Hon Hai-controlled) [1] |
| 6 | **香港中央结算有限公司** (HKSCC Nominees — Northbound Stock Connect aggregate) | 395,910,299 | **1.99%** | Other (foreign/HK investors via Connect) [1] |
| 7 | **Argyle Holdings Limited** | 327,104,697 | **1.65%** | Offshore legal person (Hon Hai-controlled) [1] |
| 8 | **Joy Even Holdings Limited** | 247,590,604 | **1.25%** | Offshore legal person (Hon Hai-controlled) [1] |
| 9 | **Rich Pacific Holdings Limited** | 155,355,705 | **0.78%** | Offshore legal person (Hon Hai-controlled) [1] |
| 10 | **Robot Holding Co., Ltd.** | 103,333,500 | **0.52%** | Offshore legal person (Hon Hai-controlled) [1] |

## Key Read

- **Ultimate parent:** FII discloses explicitly that **China Galaxy, Foxconn Hongfujin (Shenzhen), Ambit Microsystems (Cayman), Foxconn Technology Group, Hongfujin Precision Electronics (Zhengzhou), Argyle Holdings, Joy Even Holdings, and Rich Pacific Holdings are all under the common control of Hon Hai Precision Industry Co., Ltd.** (鴻海精密, 2317 TT) [2]. They are deemed concert parties.
- **Aggregate Hon Hai-affiliated stake:** Summing rows 1, 2, 3, 4, 5, 7, 8, 9, and 10 ≈ **83.74%** of total shares outstanding. This explains why true free float is so thin.
- **Free float / market structure:** CLSA pegs free float at **~15.8%** with foreign shareholding at **14.6%**; shares in issue 19,868.0m; market cap ~US$49.5bn; 3M ADV ~US$349.1m [3].
- **What the named SPVs actually are:** China Galaxy Enterprise Ltd., Ambit Microsystems (Cayman), Argyle, Joy Even, Rich Pacific, and Robot Holdings are Cayman/BVI-incorporated holding companies used by the Hon Hai group to warehouse founding-shareholder shares ahead of the 2018 Shanghai IPO. Foxconn Hongfujin Precision Industry (Shenzhen), Hongfujin Precision Electronics (Zhengzhou), and Foxconn Technology Group are PRC-incorporated Foxconn operating/holding subsidiaries that received pre-IPO equity. All were locked-up for 42 months from the December 2018 listing per the IPO terms [2].
- **Public float composition:** the bulk of non-controlling float sits with HKSCC (Northbound foreign investors via Shanghai Stock Connect, currently ~2.0%) plus a tail of mainland mutual funds, the FII employee shareholding plan (~0.6% as of latest disclosures), and retail. There is no other 5%+ outside shareholder.

## Bottom Line
FII is, for practical purposes, a **Hon Hai (Foxconn) consolidated subsidiary publicly listed in Shanghai**. ~84% of shares sit with Hon Hai-controlled vehicles acting in concert; the only meaningful non-Foxconn holders are foreign investors via Stock Connect (HKSCC nominee account) and domestic A-share investors holding the ~16% free float.

---
**Sources**
[1] 富士康工业互联网股份有限公司 2024 年年度报告 — Top 10 shareholders table (Shanghai Stock Exchange filing)
[2] FII Annual Report — concert-party disclosure: "China Galaxy Enterprise Limited, Foxconn Hongfujin Precision Industry (Shenzhen), Ambit Microsystems (Cayman) Ltd., Foxconn Technology Group, Hongfujin Precision Electronics (Zhengzhou), Argyle Holdings Limited, Joy Even Holdings Limited, Rich Pacific Holdings Limited — all under common control of Hon Hai Precision"
[3] FII – O-PF (On track delivery) — CLSA (2 May 2025) — 607957908LinqAlpha.PDF — free float, foreign shareholding, market cap

## Citations

- [1] **富士康工业互联网股份有限公司2025年年度报告** · external
- [2] **Foxconn Industrial Internet Co Ltd - H2 2023 - Report** · external

