Coronavirus drives Anli into Q1 2020 net loss

摘要

Hefei, Anhui - Chinese faux leather maker Anli expects its unaudited net loss in Q1 2020 to range between CNY6m and CNY9m ($0.9m to $1.3m). This compares to CNY3m net profit in the first quarter of 2019. At the start of the year, Anli expected to restart production after the Chinese New Year at the beginning of February. But this was postponed to February 15 because of the corona-virus outbreak. Work started again, but the rate of production only gradually picked up. Effective working hours were greatly shortened, said the company's statement in April.