Impacts of and measures to the Wuhan Coronavirus issue
We would like to inform you that SYIL has taken various measures to minimize the impact of Wuhan Coronavirus to our operations. Overall, we estimated Q1 production capacity to be impacted by 10%-20%. However, the loss of Q1 output will be quickly remedied by the end of March. We anticipate production to be resumed to normal at the beginning of Q2.
Both our factories in Yuyao and Shanghai have resumed operations per February 10. A small number of our workers can’t return to work due to travel ban or other reasons. To offset the loss of working hours, we hired additional local workers.
In addition, none of our suppliers is in Hubei province. The supply of raw materials and components is unaffected.
As of today, the impact of Wuhan Coronavirus is very limited for SYIL. We assure you that SYIL will optimize its operation to meet our QSL to customers. We appreciate your understanding and look forward to your continuously support and business with SYIL.
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