Workplace reviews and discussion: 香港商茂欣電子科技有限公司

Dear colleagues at Moxin,

The outbreak of the novel coronavirus disease (COVID-19) in 2020 has already impacted global trade in services, including tourism, exports of transportation services, and industrial supply chains. At the same time, it is further deepening the slowdown and decline in global merchandise trade markets. Due to the impact of the pandemic, the company’s business suffered a severe blow in February and March, with operating revenue declining sharply. During the SARS outbreak in 2003, China’s economy accounted for less than 10% of global GDP. Today, China’s GDP accounts for nearly 20% of global GDP. Compared with SARS, the COVID-19 pandemic may have a greater impact on the economy. The severity of its impact will depend on the duration of travel restrictions imposed by various countries and the extent of the virus’s spread.

Recently, the pandemic has become increasingly serious in Europe and the United States, and some of the company’s important major customers have successively requested the cancellation or suspension of their original production orders. Revenue forecasts for the coming months will also be severely affected. To ensure the company’s long-term health, development, and continued operations, the company will continue to withstand enormous pressure to retain employees and avoid layoffs as much as possible. At the same time, after discussion by the company’s board of directors, it has been decided to cancel the payment of this year’s year-end bonuses and the salary adjustment process.

The above decision is based on the extraordinary circumstances of combating the COVID-19 pandemic and is truly a last resort. “Staying alive” is the fundamental condition and highest strategy of an enterprise. We hope that all company employees can understand and support this decision and work together to overcome these difficulties. Given our long-standing and unwavering investment in our mission, vision, and values, we believe that Moxin can withstand this pandemic’s test. On behalf of all members of the company’s management, thank you all for your hard work over the years! Thank you for your support and understanding!

Finally, we wish everyone good health! Let us look forward together to the day when spring arrives and flowers bloom!

Moxin Electronics Co., Ltd.

Frank Wang & Tony Chan

Terrible