February 10, 2020 / 2:48 PM / 9 days ago

BRIEF-Luxking Group Gets Approval To Resume Operations Of Its Factory

Feb 10 (Reuters) - Luxking Group Holdings Ltd:

* GROUP HAS APPLIED TO XIAOLAN TOWN GOVERNMENT OF PRC AND HAS RECEIVED APPROVAL TO RESUME OPERATIONS OF ITS FACTORY TODAY, 10 FEB

* GROUP HAS TO ABIDE BY CONDITION THAT ONLY MAXIMUM OF 250 EMPLOYEES WILL ALLOWED DURING RESTARTING OF FACTORY

* SOME EMPLOYEES WHO LEFT ZHONGSHAN FOR CHINESE NEW YEAR HOLIDAYS, NOT ABLE TO RETURN TO ZHONGSHAN FACTORY AT PRESENT

* UPDATES IMPACT ON ITS BUSINESS IN CHINA DUE TO RECENT NOVEL CORONAVIRUS PNEUMONIA OUTBREAK

* THERE MAY BE NEGATIVE IMPACT ON GROUP’S PERFORMANCE FOR FY2020 GIVEN THE SITUATION RELATING TO SPREAD OF NOVEL CORONAVIRUS

* MOST OF CO’S DOMESTIC CUSTOMERS & SUPPLIERS HAVE NOT RESUMED OPERATIONS RESULTING IN LESS IMMEDIATE NEW ORDERS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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