Broadway Industrial Group suspends Shenzhen operations; suspension not expected to have material impact

The group’s manufacturing operations in Thailand, Wuxi and Chongqing remain fully operational.

Broadway Industrial Group has announced that it has suspended its operations in Shenzhen, China, following a directive from the local government that all non-essential manufacturing operations in the city had to be closed for a week due to Covid-19.

According to the group, it is currently closely monitoring the situation in Shenzhen and engaging with the relevant stakeholders.

Prior to this, the group had already put in place a Covid-19 response and contingency plan across its manufacturing operations since the outbreak of the pandemic in early 2020.

In view of the measures, the temporary suspension of the group’s operations in Shenzhen is not expected to have a material impact on its financial position.

The group’s manufacturing operations in Thailand, Wuxi and Chongqing remain fully operational.

As at 9.32am, shares in Broadway Industrial Group are trading 0.3 cents higher or 1.53% up at 19.9 cents.

Photo: Bloomberg

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