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CHINA PUBLIC PROCUREMENT LIMITED
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(Incorporated in Bermuda with limited liability)
(Stock code: 1094)
BUSINESS UPDATE
This announcement is made by China Public Procurement Limited (the “Company“) on a voluntary basis to update the shareholders and potential investors of the Company of the impact of the coronavirus disease (COVID-19) to business operations of the Company and its subsidiaries (the “Group“).
Amid the recent outbreak of the coronavirus disease, the Government of the People’s Republic of China issued notices to extend the period of Chinese New Year holiday in China, in particular, various local provincial governments issued notice and required enterprises to suspend operations temporarily.
As the Group’s business and offices are concentrated in China, and has investment property in Wuhan, Hubei Province, the Group’s operations have been significantly impacted by the outbreak of the coronavirus disease. Due to suspension of work since late January 2020 after the Chinese New Year holiday and staff in affected provinces and municipalities is unable to return to business units and resume work as planned, the Group has adopted the arrangement for home office and it is expected that the Group’s operations and productivity will continue to be adversely affected.
