SHANGHAI—More than a dozen Chinese-listed companies said they had suspended production in coronavirus-hit parts of China’s eastern Zhejiang Province in response to local government’s tightened COVID-19 curbs, causing their share prices to plunge. Zhejiang reported a total of 173 locally transmitted cases with confirmed symptoms during the Dec. 6–12 period, official numbers showed on Monday, marking the province’s first domestic cluster outbreak this year. In October, the province reported just one local case. A slew of companies, including Ningbo Homelink Eco-Itech Co. Ltd., Zhejiang Zhongxin Fluoride Materials Co. Ltd., Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., and Zhejiang Fenglong Electric Co. Ltd., announced the production suspension through exchange filings over the weekend. Their shares fell sharply in early trading on Monday. Zhejiang Chunhui Intelligent Control Co. Ltd. and Zhejiang Yankon Group Co. suffered the biggest losses, with their shares falling more than 7 percent each. China reported 80 new, locally-transmitted, …
Some Companies Suspend Production in Zhejiang Province Because of Virus Outbreak
December 14, 2021
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