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An announcement from Fu Yu Corporation Limited ( (SG:F13) ) is now available.
Fu Yu Corporation Limited has announced plans to streamline its manufacturing operations in China by closing its under-utilized factory in Zhuhai and scaling up its operations in Dongguan. This strategic move is aimed at reducing fixed overheads and optimizing production resources amid geopolitical uncertainties and anticipated economic challenges. The closure of the Zhuhai factory, which contributed less than 10% to the Group’s revenue, is expected to result in one-time expenses of approximately S$3.0 million but will not materially impact the company’s overall financial performance.
More about Fu Yu Corporation Limited
Fu Yu Corporation Limited, incorporated in Singapore, operates in the manufacturing industry, focusing on moulding and tooling services. The company has a presence in key manufacturing regions in China, as well as in Singapore and Malaysia, providing cost-effective and reliable support to its customers.
Average Trading Volume: 576,522
Technical Sentiment Signal: Sell
Current Market Cap: S$87.63M
Learn more about F13 stock on TipRanks’ Stock Analysis page.