美商务部发布赤藓糖醇反补贴调查初裁 三元生物：调整销售策略以应对

Core Viewpoint - The U.S. Department of Commerce has announced preliminary results of anti-dumping and countervailing investigations on erythritol products from China, with Sanwei Biological (301206.SZ) facing a countervailing duty of 3.49% and other Chinese producers/exporters facing a rate of 3.47% [2] Group 1: Company Impact - Sanwei Biological acknowledged that the U.S. investigations have impacted its sales in the American market, and the extent of future impacts will depend on the progress of the investigations and market changes [3] - The company is implementing various measures to mitigate the effects, including adjusting sales strategies to focus on the domestic health consumer market and accelerating expansion into emerging markets in Southeast Asia, India, the Middle East, and along the Belt and Road Initiative [3] Group 2: Investigation Status - It is important to note that the countervailing investigation is not yet concluded, and the results are preliminary; the U.S. Department of Commerce will conduct further verification before making a final ruling, expected to be announced on September 24, 2025 [4] Group 3: Company Performance - In 2024, Sanwei Biological reported revenue of 713 million yuan, a year-on-year increase of 42.72%, and a net profit of 105 million yuan, up 87.47% year-on-year; foreign market revenue was 494 million yuan, representing a 33.18% increase and accounting for approximately 70% of total revenue [5] - In the first quarter of 2025, the company experienced a revenue decline of 21.73% year-on-year, totaling 150 million yuan, while net profit increased by 2.75% year-on-year to 24.91 million yuan, indicating a significant slowdown compared to 2024 [5]