Foxconn International Holdings is not expected to stage a strong recovery owing to the company’s high cost structure after posting a loss in the first six months of the year of USD142.64 million. Its Taiwanese parent company Hon Hai Precision Industry announced three wage increases in the past quarter that promise to more than double the average assembly line worker’s monthly salary to CNY2,000. The biggest of these raises takes effect  in October. Foxconn is the worst-performing stock in Hong Kong’s Hang Seng Index this year. Revenue rose 2.12% to USD3.23 billion. Hon Hai reported an 11% year-on-year increase in second-quarter net profit to NTD16.7 billion and robust revenue totaling NTD654 billion. The group plans to hire 1.5 million employees in China in five years, as it relocates some of its production facilities from Shenzhen to the inland provinces of Henan and Sichuan, which are closer to employees’ homes. The Taiwan-headquartered company, which currently has 920,000 employees in its Shenzhen plants, will increase the ratio of its Chinese workers among its total work force to 66%.