Ann: Market Update, page-49

The alternative explanation is that they were hopeful of a quick resumption of normal activities when the first wave of COVID infections hit China, which was supported by China's rapid reduction in infection rates and return to normal activities. That's all supportive of PET's statements about a minimal impact from March -June. Now, with a new spike in infections in China, optimism for a smooth resumption of business activities in China is understandably shaken and looking ahead, the company sees the prospect that China and other counties might have new economic priorities that will impact things like water remediation. There's nothing cancelled, but prudent to see that the chances of not meeting those early targets that assumed no ongoing issues has now increased, so they have now advised the market of that. Its a bummer, but it doesn't require a conspiracy to explain it. Its much like here - optimism currently high, but imagine the impact if we see a new spike in infections and deaths. That's whats happened now to PET.