[ET Net News Agency, 6 September 2021] Yue Yuen Industrial (Holdings) Limited (00551)
said most of the group's manufacturing capacity in Vietnam was disrupted and impacted. In
view of the escalation of the pandemic in Vietnam since July 2021, the authorities have
adopted more rigorous pandemic prevention measures, including tighter lockdowns in Ho Chi
Minh City and its surrounding industrial provinces. In response to the measures, factories
in Vietnam may be ordered to suspend operation upon instructions by local authorities from
time to time.
The manufacturing business accounted for approximately 58% of the group's consolidated
revenue in the first six months of 2021. Being one of the main production bases of the
group, Vietnam accounted for approximately 45% of the total shoe shipments in the first
six months of 2021. Due to the reasons mentioned, the revenue of the group's manufacturing
business in the third quarter of 2021 will be significantly impacted. (RC)
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00551 YUE YUEN IND
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11.460 -0.040 (-0.348%) Others
06/09/2021 15:20
Yue Yuen (00551) faces manufacturing disruption in Vietnam
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