疫情中国企业的影 响.docx

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1、HowareChinacorporatescopingwiththeCOVID-19outbreak?WidespreaddamagefromCOVID-1990%ofrespondentsreporteddamageduetoCOVID-19§Amongthe90%reportinganegativeimpact,79%ofbusinesseshadbeenshutbuthaverestartedwhile11%remainclosed(Figure1).§Bysector,Realestate,Edu

2、cationandHealthcarewereamongtheslowesttoresumework(Figure2).Webelieveofflineeducationhasbeensignificantlyimpacted,aswellashealthcarecompaniesthatarenotrelatedtoCOVID-19treatment.§Bysector,ITandHealthcarereportedthehighestratioof"businessorders/revenueincr

3、eased",andUtilitiespostedthehighestreadingof"noimpact–noshutdown".RealEstateEducationHealthCareTelecommunicationServicesConsumerStaplesFinancialsTotalITConsumerDiscretionaryUtilitiesIndustrialsEnergyMaterialsConstructionFigure1:COVID-19impactonbusinessFig

4、ure2:Comparisonoflengthofshutdown-veimpact-shutdowninFeb&month-to-dateinMar11%-veimpact-shutdowninFeb&restartedinearlyMar53%+veimpact-businessorders/revenueincreased3%Noimpact-noshutdown7%-veimpact-shutdownin1HFeb&restartedin2HFeb26%0%20%40%60%80%100%-

5、veimpact-shutdowninFeb&month-to-dateinMar-veimpact-shutdowninFeb&restartedinearlyMar-veimpact-shutdownin1HFeb&restartedin2HFebNoimpact-noshutdown+veimpact-businessorders/revenueincreasedSource:UBSEvidenceLabSource:UBSEvidenceLab§Thefeedbackisconsistentwit

6、hourtrackingofcompanydataregardingapostCOVID-19recovery.China'sdigitalecosystem(includinge-commerce,onlineeducation,onlineentertainment,onlinehealthcare,workingfromhome,etc)hasmanagedtoavoidthenegativeimpactofCOVID-19themost.Utilitieshavebeenresilientassl

7、ightlyweakerdemandisoffsetsomewhatbycheaperinputcosts.HealthcarehasbeenpolarisedwithsomecompaniesinvolvedinCOVID-19treatmentneeds,whileothershaverecordedfewerpatientvisits.Businessresumptionlevel:31%ofrespondentsareoperatingat>80%ofnormallevelsinMarchvsay

8、earago§AsshowninFigures3and4,asof20Marcharound30%wereoperatingat80%ofnormallevelsvs.ayearagowithTelcos,EnergyandMaterialsleadingthepack.Specifically26%ofrespondentsreportedbusinessresumptionat<60%oflastyear'slevel,4