Core Viewpoint - The company faces significant anti-dumping and countervailing duties from the U.S. Department of Commerce, impacting its exports of hard-shell capsules to the U.S. market, prompting the establishment of a special task force to address the situation [1][3]. Group 1: Anti-Dumping and Countervailing Duties - The preliminary anti-dumping duty rate for the company's subsidiary, Shandong Hershey Capsule Co., Ltd., is set at 172.24%, while other Chinese producers/exporters face rates between 5.4% and 88.82% [1]. - The preliminary countervailing duty rate for Shandong Hershey is 6.82%, with other Chinese producers/exporters facing rates between 3.45% and 8.53% [1]. - The U.S. will require importers to pay these duties as a cash deposit until the final rates are determined after the first annual review, expected to be published in October 2025 [1]. Group 2: Company Response and Strategy - The company is actively preparing for a field investigation by the U.S. Department of Commerce to seek a fair final ruling and has engaged a legal team to challenge the preliminary ruling [3]. - The company has maintained a stock of products in the U.S. that can meet market demand for 5 to 6 months, indicating proactive inventory management [3]. - The company is advancing a project to establish a plant in the U.S. with a capacity of 20 billion capsules per year, which has completed site selection and initial negotiations [3]. Group 3: Business Performance and Future Outlook - In 2024, the company reported revenue of 1.957 billion yuan, a year-on-year increase of 25.72%, with net profit reaching 222 million yuan, up 0.65% [4]. - Overseas revenue for 2024 was 1.232 billion yuan, a 36.19% increase, accounting for 62.96% of total revenue, reflecting deepened international market expansion [4]. - The company plans to achieve revenue of 2.25 billion yuan in 2025, with specific targets for various segments, including 1.69 billion yuan from cellulose ether and 400 million yuan from plant capsules [4].