Financial Intelligence APP, Zhongxin Stock (603091.SH) announced that the company recently learned: The U.S. Department of Commerce issued a public notice on October 29, 2024, U.S. time, initiating anti-dumping and countervailing duty investigations (referred to as "double reverse investigations") on hot-formed molded fiber products originating from China and Vietnam, with the case filed on October 28, 2024, U.S. time.

Anti-dumping case number: A-570-182, the investigation period is expected to be from April 1, 2024, to September 30, 2024; from April 1, 2024, to September 30, 2024, the sales amount of hot-formed molded fiber products exported to the U.S. accounted for 50.04% of the company's total income for the period.

Countervailing duty case number: C-570-183, the investigation period is expected to be from January 1, 2023, to December 31, 2023. From January 1, 2023, to December 31, 2023, the sales amount of hot-formed molded fiber products exported to the U.S. accounted for 47.34% of the company's total income for the period.

In this double reverse investigation of hot-formed molded fiber products originating from China and Vietnam, U.S. customers do not need to pay additional anti-dumping and countervailing duties on top of the existing tax rates for the company's exports to the U.S. before the U.S. Department of Commerce makes a ruling, unless there is an emergency retrospective situation.

According to reports, this double reverse investigation involves the company and its three wholly-owned subsidiaries. The double reverse investigation announced by the U.S. Department of Commerce is still in the investigation stage, and the final ruling is pending further investigation. Currently, due to the large scale of the company's export of related products to the U.S., the company has set up a special working group, hired a professional legal team, actively responding to this double reverse investigation, and strive for favorable tax rates.