Carry Wealth Cuts China Manufacturing, Production

MT Newswires Live05-24

Carry Wealth Holdings (HKG:0643) plans to further downsize the Heshan manufacturing unit and reduce the production scale in China by employing overseas subcontractors for manufacturing and production, a Friday filing with the Hong Kong Exchange said.

According to the filing, the Heshan facility owned by the companyâs unit Heshan Carry Wealth Garment Limited, will stop handling any more production orders for the company after completing existing production orders expected to be shipped in May.

The labor force directly involved in the production will be minimized but to support the garment business operation of the company, office staff including merchandisers and back office will be retained.

The production orders with shipment dates after May will be allocated to the companyâs business partnerships with subcontracted factories in Cambodia and Indonesia.

Price (HKD): $0.23, Change: $, Percent Change: %

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