Yongmao Holdings, on Oct 13, announced that its factories in Liaoning Province, Fushun City in China have been shut down temporarily.
The shutdown was due to the lockdowns imposed by the local authorities due to the recent outbreak of Covid-19 cases in the city.
The lockdown took effect at 2pm on Oct 12 as the authorities launched citywide Covid-19 testing. No official communications have indicated as to when the lockdown will be lifted, says Yongmao in a statement.
Depending on the length of the lockdown, the stop in Yongmao’s China factory operations may impact the group’s performance for the 2HFY2023 ending March 31, 2023.
The company says it will provide further updates as and when there are any material developments.
Shares in Yongmao Holdings closed flat at 71 cents on Oct 13.
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/Update
Yongmao Holdings has issued an update announcing that the lockdown in Liaoning Province, Fushun City has since been lifted from Oct 21, 4am. The operations of the compay's China factories in Liaoning Province, Fushun City were resumed on Oct 22.
