Galaxy Microelectronics: orderly resumption of work and production from March 25

On March 26, Changzhou Galaxy Century Microelectronics Co., Ltd. (hereinafter referred to as Galaxy Microelectronics) issued an announcement on the company's full and orderly resumption of work and production.

The announcement shows that according to the "Changzhou City Epidemic Prevention and Control Notice No. 32 (Orderly Adjustment of Control Measures)" issued by the Changzhou City COVID-19 Epidemic Prevention and Control Command on the afternoon of March 24, 2022: Enterprises strictly implement epidemic prevention and control measures, conscientiously fulfill their main responsibilities for epidemic prevention and control, and resume normal production and operations in an orderly manner from March 25. Galaxy Microelectric has now strictly implemented epidemic prevention measures in accordance with the above requirements and resumed work and production in an orderly manner since March 25, 2022.

Galaxy Microelectronics said that the company's current production capacity has been restored in an orderly manner and production is running safely. During the suspension period, the company's relevant on-duty personnel carefully abided by the epidemic prevention regulations, no confirmed or asymptomatic cases of infection occurred, and the company organized preparations for resumption of work and production in advance. After resuming work, the company will strictly implement the government's requirements on epidemic prevention and control measures, fully equip epidemic prevention materials, strengthen institutionalized management and control, effectively protect the health of on-the-job employees, and safeguard the rights and interests of the company and all shareholders.

The temporary suspension of production due to the prevention and control of the COVID-19 pandemic lasted for a total of 6 days. Although it will have a certain adverse impact on the performance of the first quarter of 2022, it will not have a significant adverse impact on the company's production and operation and long-term development. The company actively adjusted its production and operation plans, fully communicated with customers and suppliers, and ensured the orderly operation of supply and marketing through measures such as utilizing inventory, adjusting delivery dates and efficient scheduling, and strived to reduce the negative impact caused by this temporary suspension of production. The company will continue to implement technological innovation, promote product structure adjustments, adhere to market orientation, and comprehensively improve the company's profitability.

Previously, in order to actively respond to the local epidemic prevention policy requirements, Galaxy Microelectric temporarily suspended work and production since March 19, 2022, and actively cooperated with the flow investigation work to curb the spread of the epidemic.