Webus International Limited's Comment on Supply Chain
The company, operating through Youba Tech since August 2019, experienced disruptions in suppliers' ability to deliver services timely and respond to rescheduling or cancellation requests, particularly those suppliers located in critical regions in China. Its global customized chartered bus business was affected by travel restrictions on outbound Chinese travelers. The company has applied for licenses related to outbound travel services, including international air ticket booking and visa application assistance, to prepare for future overseas travel demand. It observed a shift in Chinese travelers' preferences toward short-haul travel, local trips, and domestic boutique and premium accommodations, and introduced new products and live streaming features to promote local attractions and activities. The company noted it cannot guarantee the effectiveness of these initiatives or the speed of adapting to emerging travel preferences. The COVID-19 pandemic adversely impacted the company's financial condition and cash flows, and similar future public health crises may have comparable effects. The company has a limited operating history in a competitive and rapidly evolving industry.
Webus International Limited's Comment on Supply Chain
The company, operating through Youba Tech since August 2019, experienced disruptions in suppliers' ability to deliver services timely and respond to rescheduling or cancellation requests, particularly those suppliers located in critical regions in China. Its global customized chartered bus business was affected by travel restrictions on outbound Chinese travelers. The company has applied for licenses related to outbound travel services, including international air ticket booking and visa application assistance, to prepare for future overseas travel demand. It observed a shift in Chinese travelers' preferences toward short-haul travel, local trips, and domestic boutique and premium accommodations, and introduced new products and live streaming features to promote local attractions and activities. The company noted it cannot guarantee the effectiveness of these initiatives or the speed of adapting to emerging travel preferences. The COVID-19 pandemic adversely impacted the company's financial condition and cash flows, and similar future public health crises may have comparable effects. The company has a limited operating history in a competitive and rapidly evolving industry.
Sources:
Webus International Limited's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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