Fire Demon visits the factory at night, Qi Li stock price briefly drops by 7%.

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, Qi Li was listed at 4.50 ringgit, down 18 cents or 3.85% for the day, with a volume of 31.34 million shares.