Zhitong Finance App News, Daye Co., Ltd. (300879.SZ) issued an announcement. The “Notice Concerning the Final Ruling on the Results of the US Anti-dumping and Countervailing Investigation Against Chinese Handheld Lawn Mower Products” disclosed in detail the relevant situation and impact on the company of the US anti-dumping and countervailing investigation against Chinese hand-held gasoline lawn mower products.

Recently, the US Department of Commerce made a final ruling on this case, ruling that the company's subsidy margin for 2020 was reduced from 10.58% to 9.12%, and that the subsidy margin for 2021 was reduced from 9.46% to 8.57% of the preliminary ruling rate. According to the US administrative review investigation rules, the final tax rate results were published in the Federal Chronicle, that is, February 6, 2024, and will officially take effect and execution.

Since the final ruling of the original trial came into effect (that is, July 9, 2021), the company no longer exports hand-held gasoline lawn mowers from China to the US, the applicable tax rate for all countervailing guarantees currently paid is the countervailing duty rate of 14.68% of the original trial. The difference between the final tax rate in this administrative review and the tax rate at the beginning of the original review, that is, the 2020 tax rate difference is 5.56% and the 2021 tax rate difference is 6.11%. US Customs will refund the goods exported to the US during customs clearance during this review investigation. It is estimated to be US$1.272,600, equivalent to RMB 9.013,300 (calculated at the exchange rate on December 31, 2023).