In response to the impact of the new crown pneumonia epidemic, Nike ’s main foundry shoe factory, Fengtai, on the 6th passed a resolution of the board of directors to reduce the original leased land area of Nanhe Small Industrial Zone in Deling County, Vietnam ’s Binhshun Province to more than 15.44 hectares. 1/3 of the land, and the total rent of the original land and the lower base fee totaled about 17.4 million US dollars, but also reduced to 5.53 million US dollars.
Fengtai said that in the case of setting up a factory on the land, the group will decide on the schedule of building a shoe factory depending on the progress of the epidemic this year.
The land of Nanhe Small Industrial Zone, Deling County, Binh Thuan Province, Vietnam was originally leased by Vietnam Dona Standard Footwear Company (DS) of Fengtai. Due to consideration of the overall operation plan of the group, the board of directors decided on the 6th to transfer it to the newly established Vietnam Nam Ha of Fengtai Lease by Footwear Company (NH).
Fengtai said that the rent paid by DS company will be paid by DS in equal amount to NH company. After the transfer, NH company and the landlord will re-sign the land lease contract and pay according to the contract conditions.
As for the resumption of work of its Indian factory, Chen Liqin, director of the Finance Department of Fengtai, revealed that after applying for government approval, the Fengtai India factory will resume production with 50% of the workforce starting from the 6th. The output of finished shoes of Fengtai India factory accounted for 26%, second only to 52% of the group's Vietnam factory, and it became the second largest shoe production base of the group. After the Indian factory resumed production on the 6th, it was conducive to the group's order production scheduling .
On May 14, 2019, Fengtai's Vietnam Dona Standard Footwear company under the original resolution of the board of directors leased land in Nanhe Small Industrial Zone, Deling County, Binh Thuan Province, Vietnam, with an area of more than 48.55 hectares. The total land rent and underlying fees were VND 405 billion Contract 17.4 million USD).
In response to the impact of the New Coronary Pneumonia epidemic, Fengtai reduced the leased area to more than 15.44 hectares on the 6th by the resolution of the board of directors. The total leased land amount was 129.2 billion VND (equivalent to 5.53 million US dollars), which was equivalent to a reduction of about 11.9 million US dollars.
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Company Address: No. 48, Chenwu Section, S256 Provincial Road, Houjie Town, Dongguan City, Guangdong Province
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