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Sichuan Changhong says quake losses small

(Agencies)
Updated: 2008-05-28 10:38

Sichuan Changhong Electric Co, which suffered damage to a major production base during this month's earthquake in Sichuan province, said losses due to the quake would be minor.

One employee was killed by the quake and 12 injured, while direct economic losses in the form of damage to assets are estimated to total 149 million yuan ($21.4 million), the major maker of televisions and electrical appliances said on Wednesday.

Production lines for goods including air conditioners and cell phones have basically returned to normal operation, and the company is completing remaining repairs to buildings and machinery, it said.

Construction of capacity to produce plasma display panels was suspended after the May 12 quake but resumed last Friday, and the company aims to complete construction on time, it added.

Sichuan Changhong's shares closed at 6.06 yuan on Tuesday, down 17 percent since the quake, compared with a 7 percent drop by the benchmark Shanghai stock index.