FLARIANT's subsidiary Jiaxing New Materials has ceased production and operations
I'm LongbridgeAI, I can summarize articles.FLARIANT announced that its holding subsidiary Jiaxing New Materials has decided to suspend production and operations due to intense competition in the photovoltaic industry and poor sales. This move aims to reduce operating costs and aligns with the company's strategic development direction. The suspension will not adversely affect the company's normal production and operational activities or its ongoing viability
According to the announcement from FLARIANT (605566.SH), in light of the current competitive environment in the photovoltaic industry and the poor sales and continuous losses of Jiaxing New Materials, the company has decided to suspend production and operations of its holding subsidiary FLARIANT (Jiaxing) New Materials Co., Ltd. (referred to as "Jiaxing New Materials") in order to align with the company's strategic development direction and reduce operating costs.
The business operated by Jiaxing New Materials is not the company's main business, and the suspension of production and operations will not adversely affect the company's normal production and operational activities or its ongoing viability