Wanli Printing (08385) issued an announcement. Due to the challenging business environment and as a measure to optimize the cost structure, the public...
Zhitong Finance App News, Wanli Printing (08385) issued an announcement. Due to the challenging business environment and as a measure to optimize the cost structure, the company's production site in Shenzhen (Shenzhen factory) has stopped production. Effective from the date of this announcement until further notice, it will drastically reduce the company's fixed recurring expenses, thereby improving its cash flow. The company has arranged for the Hong Kong factory and/or an external contractor to process the orders that are being handled by the Shenzhen factory. The company plans to sell machines to settle outstanding payments (such as Shenzhen factory employees' salaries, social security fund, and housing fund). The operation of the company's production site in Hong Kong (Hong Kong factory) remains normal. The Hong Kong plant will continue production.