“双反”终裁落地 三元生物如何破局

Core Viewpoint - The final ruling on anti-dumping and countervailing duties ("double anti") against Chinese erythritol products has been announced, with the leading company, Sanyuan Biotech, facing a maximum combined tax rate of 93.58%, significantly impacting its market competitiveness in the U.S. [1][2] Group 1: Tax Rates and Impact - Sanyuan Biotech has been assigned a countervailing duty rate of 8.63% and an anti-dumping duty rate of 84.95%, leading to a total tax rate of 93.58% [1][2] - The company did not qualify for separate rate status, resulting in a unified tax rate of 184.26% for other exporters, although this is a reduction from the initial rate of 450.64% [2] - The high tax rates are expected to diminish Sanyuan's cost competitiveness in the U.S. market, leading to potential order reductions and market share loss [2][3] Group 2: Market Dynamics and Alternatives - The U.S. market for sweeteners is significant, with 30%-40% of beverages being imported, indicating ongoing demand despite the tariff challenges [3] - Sanyuan Biotech can explore alternative market strategies, such as changing product forms to bypass tariffs or utilizing third-party channels for U.S. market entry [4] - The company is also developing alternatives to erythritol, such as allulose, which is projected to be a strategic sweetener with lower calories and a taste profile similar to sucrose [5] Group 3: Future Prospects and Innovations - Sanyuan Biotech is focusing on technological innovation to extend its product offerings beyond traditional sugar alcohols, which are already cost-effective due to mature production processes [5] - The company aims to tap into emerging markets in Southeast Asia, India, the Middle East, and South America as part of its growth strategy [4][5]