Yongjin shares recently stated that the price of stainless steel has recently been on the rise, and the company has sufficient orders. Previously, because the company’s stock trading on August 3, August 4, and August 5, 2020, the daily closing price increase deviated by more than 20% in three consecutive trading days, Yongjin shares issued a stock trading risk warning announcement. In the announcement, the company also stated that the current production and operation are normal, and the company's operating conditions and internal and external operating environment have not undergone major changes recently. The overall market and industry policies have not undergone major adjustments, the internal production and operation order is normal, and related orders and contracts are in a state of normal performance.
In addition, Yongjin pointed out that the raw materials for the shredded steel produced by the company are mainly provided by Taigang and Zhangjiagang Pohang. Yongjin also stated that the start of construction of the Vietnam project has been delayed due to the overseas epidemic.
According to relevant information, Yongjin, the first overseas production subsidiary established by Yongjin on April 10, 2019, is expected to start construction in June 2020. The construction period will be 18 months, and the annual processing capacity will be increased. 250,000 tons of precision cold rolling production line.
