SOURCE / INDUSTRIES
Wuhan-based memory chipmaker maintains normal operations despite novel coronavirus
Published: Jan 28, 2020 11:44 PM

A view of the 32-layer 3D NAND flash chip developed by YMTC Photo: IC


 

While the city of Wuhan in Central China's Hubei Province remains under quarantine due to the novel coronavirus, the operations of Yangtze Memory Technologies Co (YMTC), one of China's most advanced memory chipmakers, has been unaffected, a company spokesperson told the Global Times on Tuesday.

The Wuhan-based memory chipmaker is maintaining normal production and operations, and its raw material supplies and shipments are running smoothly, said the company spokesperson.

The city, where the coronavirus was initially diagnosed, has been quarantined since Thursday in an effort to contain the virus. 

As of Monday, the National Health Commission reported 4,515 confirmed cases of the novel coronavirus and 6,973 suspected cases. 

YMTC has undertaken a slew of scientific preventive measures for its employees, including publicizing quarantine procedures, offering medical masks, temperature checks, enhanced disinfecting, and remote meetings, the company spokesperson said. 

The revelation dispels market speculation that the coronavirus and preventive measures might upset operations at the Wuhan-based memory chipmaker.

"While the Lunar holiday period is typically a slower time for business activity, the likely extended period of time to address the coronavirus and [more importantly] save lives could affect manufacturing at Yangtze Memory and potentially other makers throughout China if the delivery of supplies is hindered or temporarily halted," MarketWatch said in an article on Monday, citing a note by Cowen analyst Krish Sankar.

The YMTC spokesperson said the company always puts the safety of personnel first and both employee health, and production and operations are being safeguarded by effective, scientific preventive measures.

Chip-related stocks led a decline in US markets on Monday as fears of the virus unnerved investors. 

Chinese mainland stock markets won't open until Monday, as the State Council announced the national Spring Festival holidays will be extended to Sunday. 


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