国林科技(300786.SZ)：新疆国林生产的涉案产品乙醛酸被欧盟征收57.3%反倾销税

Core Viewpoint - The European Commission has imposed significant anti-dumping duties on glyoxylic acid products originating from China, which may impact the company's export dynamics to the EU market, although the overall revenue from these exports is relatively low. Group 1: Anti-Dumping Duties - The final ruling from the European Commission on September 22, 2025, imposed a 57.30% anti-dumping tax on glyoxylic acid produced by Xinjiang Guolin, while other Chinese companies face duties ranging from 29.20% to 124.90% [1] - The anti-dumping measures will take effect from the date of the final ruling and will last for five years [1] Group 2: Impact on Revenue - In 2024 and the first half of 2025, the revenue from glyoxylic acid exports to the EU accounted for a small percentage of the company's total revenue, specifically 3.50% and 1.27% respectively [1] - Overall, the low proportion of revenue from EU exports suggests that the anti-dumping duties will not have a significant impact on the company's future operations [1] Group 3: Market Dynamics and Strategy - The imposition of high anti-dumping duties has reduced the price competitiveness of the company's glyoxylic acid, leading some customers to stop importing the products [2] - Despite the challenges, some customers are willing to continue purchasing the products despite the higher tariffs, indicating a mixed response in the market [2] - The company plans to enhance product research and development, reduce costs, and explore markets outside the EU to mitigate the impact of the duties and expand its market share [2]