Fire Demon visits the factory at night, Qi Li stock price briefly drops by 7%.
![Fire Demon visits the factory at night, Qi Li stock price briefly drops by 7%.](https://sgsnsimg.moomoo.com/sns_client_feed/103267505/20240910/1725955756289-5242ca59d2.jpeg/big?area=104&is_public=true)
(Kuala Lumpur, 10th day) Qi Li $PMETAL (8869.BMS)$ factory was attacked by the Fire Demon at night. Although no casualties occurred during the incident, the stock price dropped by nearly 7% today, reaching 4.37 Malaysian Ringgit at one point.
The company reported to Bursa Malaysia on Tuesday that a fire broke out in its smelting factory located in Phase 3 of the Samalaju Industrial Park around 11 pm last night, with its subsidiary holding an 80% equity interest in the relevant factory building.
According to the press release, the furnaces in Phase 1 and Phase 2 of the factory building were not affected, while there are a total of 300 furnaces in Phase 3, with 100 of them being affected.
In terms of overall smelting, approximately 9% has been affected, and it is estimated that it will take 4 months to restore operations. In terms of the whole year, the impact is approximately 3%.
It is worth noting that the affected assets are all insured.
Although the company's stock price showed an upward trend at the opening today, it immediately fell after the news of the fire, dropping to a low of 4.37 Malaysian Ringgit at one point. It has since recovered and was reported at 4.49 Malaysian Ringgit as of 4:10 PM, still down 19 cents or 4.06%.
At the close, Qili closed at 4.50 Ringgit, down 18 cents or 3.85%, with a trading volume of 31.34 million shares.
Source of Information: Nanyang Commercial News
Disclaimer: This content is for reference and educational purposes only and does not constitute any specific investment, investment strategy, or endorsement. Readers should assume all risks and responsibilities resulting from relying on this content. Before making any investment decisions, please conduct your own independent research and evaluation, and consult professionals if necessary. The author and related contributors are not responsible for any losses or damages caused by the use or reliance on the information contained in this article.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
vclow : may be is good news for company![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)