Subsequent events

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

24. Subsequent Events

Coronavirus (COVID-19)

An outbreak of respiratory illness caused by COVID-19 emerged in late 2019 and has spread within the PRC and globally. The coronavirus is considered to be highly contagious and poses a serious public health threat. Any outbreak of health epidemics or other outbreaks of diseases in the PRC or elsewhere in the world may materially and adversely affect the global economy, the markets and the Company business. In the first quarter of 2020, the COVID-19 outbreak has caused disruptions in the Company manufacturing operations and temporary closure of its offices. The disruption in the procurement, manufacturing and assembly process within the Company's production facilities has resulted in delays in the shipment of its products to customers, increased costs and reduced revenue. As of the date of this quarterly report, the Company has fully resumed operations.

As the coronavirus epidemic expands globally, the world economy is suffering a noticeable slowdown. The duration and intensity of disruptions resulting from the coronavirus outbreak is uncertain. It is unclear as to when the outbreak will be contained, and the Company also cannot predict if the impact will be short-lived or long-lasting. Because of the significant uncertainties surrounding the COVID-19 pandemic, the extent of the business interruption and the related financial impact cannot be reasonably estimated at this time. 

The Company has analyzed its operations subsequent to March 31, 2020 to the date these condensed consolidated financial statements were issued and has determined that apart from those disclosed elsewhere in these financial statements, it does not have any other material subsequent events to disclose in these condensed consolidated financial statements.