SD HEAD(SZ:002810) Shang Hai Zheng Quan Bao·2025-12-21 19:45Core Viewpoint - The U.S. Department of Commerce has made a final affirmative ruling on anti-dumping and countervailing duty investigations concerning hard empty capsules from Brazil, China, India, and Vietnam, which significantly impacts the company and its market positioning [1][2][3]. Group 1: Anti-Dumping and Countervailing Duty Results - The final countervailing duty rate for the company is set at 6.90%, while other Chinese manufacturers/exporters face rates ranging from 3.14% to 8.81% [2]. - The final anti-dumping duty rate for the company, which is a mandatory respondent, is 18.71%, a substantial reduction of 153.53% compared to the preliminary ruling. Other Chinese manufacturers/exporters have anti-dumping rates ranging from 0% to 18.71% [3]. Group 2: Impact on the Company - The U.S. International Trade Commission (ITC) will announce the final determination on industry damage in February 2026, after which the Department of Commerce will issue the official countervailing and anti-dumping duty orders within seven days [4]. - The final ruling significantly reduces the amount of cash deposits the company must pay, and any excess deposits previously made will be refunded, positively affecting the company's financial performance [4]. - The company is actively expanding its production capacity in the U.S. and plans to continue exploring markets outside the U.S., while closely monitoring policy and tariff changes in key export countries to enhance its risk resilience [4].