Summary by Futu AI
Centralized Vehicles (Group) Corporation (“Centralized Vehicles”) announced on 29 April 2024 that the U.S. Customs and Border Protection (CBP) is investigating Anti-dumping Duty (“AD”) and Countervailing Duty (“CVD”) evasion by its wholly-owned subsidiary CIMC Intermodal Equipment, LLC (“CIE”), No material evidence has been found to indicate CIE and its other wholly-owned subsidiary Dee Siam Manufacturing Co., Ltd (“DS Factory”) There is an escape behavior. The investigation stems from an application filed with CBP on December 22, 2022 by the American Association of Skeleton Vehicle Manufacturers, accusing CIE of circumventing imported skeleton vehicles and components from China through the DS plant in Thailand to evade US related duties on Chinese products. CBP began the investigation on April 24, 2023 and announced the results of the centralized vehicle survey on April 25, 2024. Centralized vehicles said the result will benefit CIE's normal production operations and contribute to the steady growth of its North American business. The Company urges shareholders and potential investors to exercise caution.