Furthermore, the company, led by chairman Guo Jingyu (chairman) has suffered delays in contract signings with some of its customers in China because of on-going “tightened Covid-19 measures”.
“While key terms may have been agreed in principle with customers, contract signing and production with some customers were delayed due to the heightened Covid-19 measures in China which brought difficulties in finalising contracts, thereby resulting in a decrease in revenue contribution to the group in 6M2022,” the company explains.
GHY shares last traded at 47 cents.
