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Feb. 7, 2020

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Feb. 7, 2020
Xingfa Group: Business in low season, impact is limited

On 3rd February, investors asked online questions to the Xingfa Groupon the specific impact of the coronavirus epidemic on its production. The group’s board secretary explained that its main production units and subsidiaries have been running as normal, as raw materials used in its major production base in Hubei Province were well stocked beforehand, despite the impact of the epidemic on the province’s supply chain logistics. Currently, the production of phosphate, glyphosate , organosilicone and fertilizers are significantly affected by the epidemic. So far, productionis running as normal without the occurrence of shutdowns or suspensions. 
 
January is also usually the low season for the company, when its business performance does not contribute much to its annual production volume. According to predictions, the impact of the epidemic will be generally limited and controllable. The company will closely monitor the epidemic’s development and is making full preparations to support government departments at all levels to eliminate or alleviate any possibleeffectsof the epidemic, to ensure the company’s stable production.
 
ADAMA: Huai’an production base remains running, Jingzhou base ready to resumeproduction
 
The production base in Jingzhou of ADAMA, which is located in Hubei, is currently suspended, due to the need to contain the epidemic. However, during the Chinese New Year holiday period, the production base produced over 100 tons of sodium hypochlorite disinfectant distributed to local hospitals and public service agencies for disinfection use in hospitals, public areas and local communities, in support of the epidemic containment efforts. At the company’s Jingzhou production base, sodium hypochlorite is one of the byproducts usually generated from chlorine consumption equilibrium during production. However, at this current time, sodium hypochlorite disinfectant was especially prepared and produced for the purpose of epidemic containment.
 
The company’s Jingzhou production base is ready to return to production, in accordance with instructions from local government. Currently, the Hubei Provincial Government announced that the resumption of production in the province shall not be earlier than 13th February while the company’s Huai’an production base was running nonstop during the Chinese New Year holiday period.
 
Source: AgroNews

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