The Sunshang Group (002593.SZ) announced on the evening of September 7 that according to the US Department of Commerce’s preliminary results on the steel wheel products, the company’s steel wheel products that were partially exported to the United States were levied 40.03% from the 6th. Temporary countervailing duty rate.
Since the US domestic steel wheel manufacturer filed a complaint in March 2011, the U.S. Department of Commerce began a double investigation on 18- to 24.5-inch diameter steel wheels imported from China in April. The preliminary results were formally announced on the 6th. China's relevant export products are levied 26.24% to 46.59% ranging from the countervailing duty rate. It is expected that the US Department of Commerce will issue the final ruling in five months.
According to the above report, the company’s sales of steel wheels with 18 to 24.5 inches in diameter exported to the United States in 2010 were 6,267,700 yuan, accounting for approximately 1.14 percent of the company's revenue for that year's load-bearing steel wheel products. In the first half of 2011, the company Exported to the United States, the size of the product achieved sales of 16.3936 million yuan, accounting for approximately 5.15% of the company's semi-annual load-bearing steel wheel product revenue.
The company stated that due to the small sales in the U.S. market, the anti-subsidy tax rate imposed will not have a significant adverse impact on future performance. At the same time, the company has reduced the negative impact of trade friction on the development of business in the US market by increasing production capacity in Vietnam's production bases. In March 2011, the company promptly accelerated the construction of a production base in Vietnam after it became aware of the investigations conducted by the Shuangnai, and it has so far formed a scale of 50,000 load-bearing steel drums per month.
Jingu (002488.SZ) also announced a few days ago that the company and its three subsidiaries, Zhejiang Shilun Industrial Co., Ltd., Shanghai Yutai Industrial Co., Ltd. and Chengdu Jingu Wheel Co., Ltd. A 46.59% temporary countervailing duty rate was levied.
On July 7th, the day group closed at 13.52 yuan, up 3.28%.
Since the US domestic steel wheel manufacturer filed a complaint in March 2011, the U.S. Department of Commerce began a double investigation on 18- to 24.5-inch diameter steel wheels imported from China in April. The preliminary results were formally announced on the 6th. China's relevant export products are levied 26.24% to 46.59% ranging from the countervailing duty rate. It is expected that the US Department of Commerce will issue the final ruling in five months.
According to the above report, the company’s sales of steel wheels with 18 to 24.5 inches in diameter exported to the United States in 2010 were 6,267,700 yuan, accounting for approximately 1.14 percent of the company's revenue for that year's load-bearing steel wheel products. In the first half of 2011, the company Exported to the United States, the size of the product achieved sales of 16.3936 million yuan, accounting for approximately 5.15% of the company's semi-annual load-bearing steel wheel product revenue.
The company stated that due to the small sales in the U.S. market, the anti-subsidy tax rate imposed will not have a significant adverse impact on future performance. At the same time, the company has reduced the negative impact of trade friction on the development of business in the US market by increasing production capacity in Vietnam's production bases. In March 2011, the company promptly accelerated the construction of a production base in Vietnam after it became aware of the investigations conducted by the Shuangnai, and it has so far formed a scale of 50,000 load-bearing steel drums per month.
Jingu (002488.SZ) also announced a few days ago that the company and its three subsidiaries, Zhejiang Shilun Industrial Co., Ltd., Shanghai Yutai Industrial Co., Ltd. and Chengdu Jingu Wheel Co., Ltd. A 46.59% temporary countervailing duty rate was levied.
On July 7th, the day group closed at 13.52 yuan, up 3.28%.
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