The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate and complete, and there are no false records, misleading statements or major omissions.
On November 4, 2009, the US Department of Commerce issued an anti-dumping tax order. Since January 23, 2009, import tariff deposits have been imposed on imported diamond saw blades and their components originating in China and South Korea. On November 9, 2009, the US Court of Appeals for the Federal Circuit rejected SAINT-GOBAIN ABRASIVES INC., EHAWA DIAMOND INDUSTRY CO. LTD, and Boss Tools [16.44 -1.56%] Co., Ltd. Waiting for the relevant Chinese and Korean companies to suspend the execution of the imposition of import tariff deposits. So far, the anti-dumping tax order issued by the US Department of Commerce for diamond saw blades and components originating in China and South Korea has come into effect and has been implemented.
First, the main content of the anti-dumping tax order
1. Involving product range: diamond saw blade production finished product, semi-finished product, diamond saw blade base and cutter head.
2. Effective time: January 23, 2009
3. Specific tax rate: The tax rate of the Company and its holding subsidiary Beijing Antai Steel Research Superhard Materials Co., Ltd. (95% of the company's shareholding) is 2.82%. The average tax rate for Chinese companies is 21.43%, and the average tax rate for Korean companies is 16.39%.
Second, the impact of anti-dumping tax orders on the company
Beijing Antai Steel Research Superhard Materials Co., Ltd. (95% owned by the company), a subsidiary of the Company, is mainly engaged in the production and sales of diamond saw blades. The company is committed to the development of high-end product technology, and more than 90% of diamond saw blades are used. Export.
In 2008, the company's US market exports amounted to 65.677 million yuan, accounting for 34.0% of the same period, accounting for 24.19% of the company's total sales revenue during the same period. From January to October 2009, the US market exported 45.593 million yuan, accounting for 35.5% of the same period, accounting for 30.06% of the company's total sales revenue during the same period.
At present, South Korea's Erhe Company and Saint-Gobain have appealed to the US Court of Appeals for the Federal Circuit. If the case is won, the customs deposit imposed by the US Customs will be returned.
The company will fulfill its information disclosure obligations in a timely manner depending on the progress of the litigation.
Special announcement.
Antai Technology Co., Ltd.
Board of Directors
November 14, 2009
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Kaiping City Kaipu Sanitary Ware Co.,Ltd. , https://www.china-kpo.com