On December 4th, Guanglonghui announced that New Universal Science and Technology (300472.SZ) disclosed that its wholly-owned subsidiary Wanxiang Xinyuan (Ningxia) Asia Vets Eco-friendly Concept Technology Co., Ltd. has decided to implement a temporary production halt, expected to last until March 1, 2025. During the suspension, production will resume depending on changes in market demand, and the subsequent resumption situation will be disclosed in a timely manner.
In recent years, the company's cash flow has been tight due to multiple factors such as delayed collections from accounts receivable and intensified market competition, significantly impacting the company's capital turnover, production operation, and market expansion. Considering the objective situation of Wanxiang Xinyuan Ningxia's products, market, capital, and operation costs, after careful evaluation, to control costs, improve production efficiency, and protect shareholder interests, the company's wholly-owned subsidiary Wanxiang Xinyuan Ningxia has decided to implement a temporary production halt, expected to last until March 1, 2025, with the subsequent resumption depending on future market demand.
