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The epidemic situation in India continues to be severe, with the total number of deaths from the epidemic exceeding 300,000. On May 24, Winterthur announced again that it will continue to extend the shutdown until May 30. Winterthur’s current Indian production line accounts for more than 20% of the total production capacity, and other overseas factories will support the shutdown period.

The new crown pneumonia epidemic in India has not yet been controlled. Nike's main shoe manufacturer Winterthur (9910-TW) has suspended operations in three factories in India for 10 working days from May 12th.

On May 24, Winterthur announced again:

In order to meet the local government's epidemic prevention requirements, the shutdown will continue to be extended to May 30. Winterthur currently accounts for more than 20% of the total production capacity in India. During the shutdown period, other overseas factories will support it.

Winterthur pointed out that the Indian factory mainly produces simple shoes.

This year, Winterthur originally planned to increase production capacity by 7-10% in overseas factories including India. The director of Winterthur pointed out that the related expansion projects in India have not stopped at present.

Winterthur's net profit after tax in the first quarter of 2021 was 1.64 billion yuan, a quarterly increase of 35.54%, an annual increase of 28.9%, and a net profit per share of 1.86 yuan.

Winterthur is the main foundry for Nike shoes. Last year, its net profit after tax was 4.879 billion yuan, a year-on-year decrease of 21.7%, and its net profit per share was 5.53 yuan. Last year's earnings per share were planned to be distributed in cash dividends of 3.7 yuan.

Due to the spread of the epidemic in Taiwan, all shareholders' meetings of listed companies have been postponed. The director of Winterthur pointed out that the ex-dividend date can be determined after the shareholders' meeting passes the dividend proposal. However, the exact date for postponing the meeting has not been decided yet.

India's epidemic continues to be severe

The total number of deaths from the epidemic exceeded 300,000

Today (24th), India stated that the cumulative number of people who have died of COVID-19 has exceeded 300,000, making it the third country to reach this threshold after the United States and Brazil. This huge wave of the epidemic has also overwhelmed India. Medical care system.

According to data from the Ministry of Health of India, the cumulative death toll across the country has reached 303,720, and the total number of confirmed cases has also risen to 26.7 million.

The epidemic in India has risen sharply, with the number of confirmed cases and the number of deaths in a single day reaching new highs in recent weeks.

India today reported 4,454 deaths in the past 24 hours, the second highest number of deaths in a single day since 4,529 on the 19th.

Many experts believe that the actual number of deaths will be much higher, especially when the epidemic spreads from big cities to rural areas where most of the 1.3 billion people live, medical facilities and record management in these areas are relatively backward.

This wave of epidemic not only caused hospitals to be overwhelmed by patients, but also caused severe shortages of oxygen and key medicines.

Heartbreaking photos also appeared in India, with long lines waiting for funerals and temporary cremations in crematoriums and cemeteries.

The epidemic hurts manufacturing in India, and orders return to China!

Expert: Foreign companies are afraid to leave

The epidemic in India has run out of control and has become one of the world's hardest-hit areas. Many Taiwanese factories and multinational companies' factories in India have been forced to suspend operations.

Originally, when the global supply chain was gone, India was expected to become the "world factory." However, under the turmoil of the epidemic, multinational companies have transferred their orders back to China.

A part-time lecturer at New York University and a Chinese management consultant believes that if the epidemic in India does not improve before the summer, some large companies may withdraw from India.