Jakarta, CNBC Indonesia – More than a dozen companies listed on China suspended production. This is done in the factory of east Zhejiang province.
The increase in local Covid-19 cases is the cause that makes China tighten restrictions. There were a total of 173 cases during December 6-12 from official government data.
Those companies include Ningbo Homelink Eco-Itech Co Ltd, Zhejiang Zhongxin Fluoride Materials Co Ltdd, Zhejiang Jingsheng Mechanical & Electrical Co Ltd, and Zhejiang Fenglong Electric Co Ltd. The company’s shares fell 7% on the Chinese stock exchange Monday (12/13/2021) after the announcement was made, as quoted Reuters.
Ningbo Homelink, a company that makes plastic products, said late Sunday it had halted production in its home city of Ningbo at the request of local authorities. “And took steps to minimize the negative impact on its business,” the company said in a statement.
Meanwhile, Zhejiang Jindun Fans Co (300411.SZ), a maker of ventilation system equipment, said production at its subsidiary in the Shaoxing city of Zhejiang had been suspended due to the local government’s anti-virus measures.
“There will be some delays in product deliveries and a blow to business this month, but the impact on annual results this year will be limited,” the company said.
Meanwhile, all the companies that announced the cessation of production pledged to fully cooperate with local governments. It is not known when production will resume.
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