TONGTAI MACHINE & TOOL CO., LTD. (TWSE: 4526) held a meeting of the Board of Directors on May 13, 2020 and reported its 1st quarter 2020 consolidated financial statements. Net consolidated revenue for the 1st quarter 2020 was NT$1,761,102 thousand, representing a 40% decrease year on year. Net loss attributable to shareholders of the parent company for the 1 st quarter 2020 was NT$132,438 thousand with a net loss per share of NT$0.52. Except for the foreign exchange loss caused from devaluation of the Chinese Renminbi (RMB), the primary reason for this operating loss was due to the significant impact of the COVID-19 pandemic, resulting in delayed shipments of subsidiaries and stagnation of China's manufacturing and consumer markets. The 2020 Annual Shareholder Meeting will be held on June 9, 2020.
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