(Yicai Global) Feb. 11 -- The stock price of Sa Sa International Holdings has once again dropped close to its lowest since 2008 after the Chinese personal care products retailer announced salary cuts and refrained from disclosing when its 21 Hong Kong and Macau stores will open again amid the novel coronavirus epidemic.

Sa Sa's stock price [HK: 0178] fell 3.36 percent to HKD1.44 (US 19 cents) by lunchtime. That was not far from Jan. 31's HKD1.38, the lowest in over a decade. 

Sa Sa is trying to procure face masks and disinfection products to sell them at reasonable prices amid the virus outbreak, Chief Executive Simon Kwok said in a statement released by the Hong Kong-headquartered firm today. 

The new virus epidemic has claimed 1,017 lives and infected over 42,700 people in China, prompting retailers to prolong the Spring Festival holiday to stop the new virus from spreading.

Executives will take the lead in cost reduction practices by accepting a 75 percent salary cut for three months, said Kwok. The company will downsize inventory, staff, and its Hong Kong store network, he added. 

Over the Chinese New Year period, the firm's sales in the two special administrative regions fell nearly 77 percent from a year ago.  

Founded in 1978, Sa Sa has over 260 retail stores in Asia and it employs about 4,300 people in places such as China's mainland, Singapore and Malaysia. 

Editor: Emmi Laine