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AlwaysFree: Companies In China’s Zhejiang Halt Production Amid COVID-19 Outbreak

Author: SSESSMENTS

More than a dozen companies in the Chinese province of Zhejiang said they had halted production as local authorities tightened restrictions amid a COVID-19 outbreak, Reuters reported on Monday. Zhejiang, one of China’s leading manufacturing hubs, registered a total of 173 locally-transmitted infections with confirmed symptoms between December 6 and 12. For comparison, Zhejiang reported just one local case in October.

The companies that have suspended operations include Zhejiang Chunhui Intelligent Control Co Ltd, Zhejiang Yankon Group Co, Zhejiang Fenglong Electric Co Ltd, Zhejiang Jindun Fans Co, Zhejiang Jingsheng Mechanical & Electrical Co Ltd, Zhejiang Zhongxin Fluoride Materials Co Ltd, and Ningbo Homelink Eco-Itech Co Ltd. Their shares plunged in early trading on December 13.

Ningbo Homelink said in a bourse filing on Sunday that it had suspended production in its Ningbo plant as ordered by local authorities. The company, which produces plastic products, noted it is taking measures to minimise the negative impact of the suspension on its business. Zhejiang Jindun Fans said there would be some product delivery delays this month due to the curbs. All of these companies pledged to work closely with the local authorities, which will decide when production can start again. 

Tags: All Products,AlwaysFree,Asia Pacific,China,English,NEA

Published on December 13, 2021 6:12 PM (GMT+8)
Last Updated on December 13, 2021 6:12 PM (GMT+8)