Maxnerva pushes ‘smart factory’ projects in China with contract manufacturing giant Foxconn

Unfazed by another fiscal year in the red, Hong Kong-listed Maxnerva Technology Services expects to turn around its fortunes as a major specialist contractor under China’s ambitious plan to become a global manufacturing powerhouse.

“We see a lot of opportunity in the so-called Industry 4.0 space, a high-growth segment that is known on the mainland as China Manufacturing 2025,” Maxnerva chief executive Sam Baker told the South China Morning Post.

Maxnerva, with a market capitalisation of HK$1.7 billion, was created in October last year from the acquisition of listed company Daiwa Associate Holdings by the Asia-IO Acquisition Fund for a total consideration of HK$533.35 million.

It has also added new shareholders, including South Korean conglomerate SK Holdings, securities firm Huatai Financial Holdings and Taiwan-based Hon Hai Precision Industry, the world’s largest contract electronics manufacturer that is more known under its Foxconn trade name.

“Our anchor relationship with the Foxconn group gives us great confidence in our ability to significantly build our client portfolio and further develop alliances with global technology partners,” Baker said.