Recovery Picks Up In August As Demand Up For Zhuding International Limited
Zhuding International Limited (OTC PINK:ZHUD) reported a recovery in manufacturing activity as demand for building materials increased in August 2020.
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Rhea-AI Summary
Zhuding International Limited (OTC PINK:ZHUD) reported a recovery in manufacturing activity as demand for building materials increased in August 2020. The company noted a rise in orders, driven in part by strong investment in real estate, despite the ongoing effects of the pandemic. The Caixin Manufacturing Purchasing Managers' Index (PMI) rose to 53.1, indicating expansion in China's manufacturing sector. This demonstrates resilience as the economy begins to rebound from previous lockdowns, though a full recovery is still anticipated to take time.
Positive
- Manufacturing activity is recovering with increased orders in August.
- Caixin PMI increased to 53.1, indicating expanding manufacturing activity.
Negative
- Recovery is still far from normal levels.
Details
News Market Reaction – ZHUD
The recorded move for ZHUD in the trading session of this news was -7.65%.
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FUZHOU, CHINA / ACCESSWIRE / September 8, 2020 / Zhuding International Limited (OTC PINK:ZHUD) "Manufacturing started to pick up and supply continued to recover. Demand also seems to be back as indicated by the expansion in orders in August. Strong investment into real estate likely boosted Zhuding International Limited manufacturing activity. It's good in the short term growth but it's still far off from what we'd call a normal recovery," said Mulin Xiang.
Recent results of Caixin Manufacturing Purchasing Managers' Index (PMI) came in at 53.1 for August, compared to 52.8 in July showed China's manufacturing activity expanded in August. China's manufacturing sector has been battered as factories temporarily shut earlier this year due to large-scale lockdowns to contain the coronavirus pandemic. But recent data show signs of China's economy recovering from the pandemic.
About Zhuding International Limited
Zhuding International Limited operates as a building materials manufacturer. The Company uses its own patented technology to create lightweight composite wall panels suitable for use in commercial and residential construction from recycled materials derived from mining, industrial, agricultural, and domestic waste.
For further information, please contact:
Han Jin
cream@fjzhuding.com
SOURCE: Zhuding International Limited
View source version on accesswire.com:
https://www.accesswire.com/605104/Recovery-Picks-Up-In-August-As-Demand-Up-For-Zhuding-International-Limited
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