宁波博威合金材料股份有限公司关于上海证券交易所监管工作函的回复

Core Viewpoint - The company, Ningbo Bowei Alloy Materials Co., Ltd., is facing significant challenges due to high anti-dumping tariffs imposed by the U.S. on solar products from Vietnam, leading to substantial inventory write-downs and asset impairment provisions [2][3][14]. Group 1: Financial Performance and Provisions - The company expects a net profit of 100 million to 150 million yuan for 2025, representing a year-on-year decrease of 88.92% to 92.61% [2]. - Inventory write-downs amount to 303 million yuan for the new energy sector, with an additional 703 million yuan for the assets related to the Vietnam solar cell project [2][3]. - The company has reported specific impairment provisions for U.S. components and solar cells, totaling approximately 170.64 million yuan for the North Carolina factory and 50.68 million yuan for the California warehouse [5]. Group 2: Impact of U.S. Policies - The U.S. imposed a 307.78% anti-dumping tariff on solar products from Vietnam, severely affecting the company's ability to sell products in the U.S. market [3][14]. - The implementation of the "Inflation Reduction Act" in July 2025 has introduced stricter regulations for foreign entities, impacting the company's operations and compliance in the U.S. [6][25]. - The company is actively seeking to divest its U.S. assets to mitigate the adverse effects of these policies, with negotiations ongoing with potential buyers [8][26]. Group 3: Strategic Responses - The company has initiated a strategic review of its operations, including the potential relocation of production to other countries and the development of new markets in India and Europe [20][21]. - A comprehensive market study has been conducted to assess the feasibility of relocating production to Morocco and Eastern Europe, with preliminary discussions held with local enterprises [22][23]. - The company plans to continue processing impaired assets and is focused on enhancing its new materials business to improve overall performance [31].