Boshen Tools Co., Ltd
About the US diamond saw blades and parts originating in China and Korea
Announcement on the progress of anti-dumping investigation cases
The company and all members of the board of directors guarantee the truthfulness, accuracy and completeness of the announcement, and assume responsibility for false records, misleading statements or major omissions in the announcement.
Boshen Tools Co., Ltd. (hereinafter referred to as “the Companyâ€) disclosed on the “IPO Prospectus†published on http:// on August 11, 2009. In the United States regarding the anti-dumping investigation of diamond saw blades and components originating in China and South Korea (hereinafter referred to as "anti-dumping cases") and the impact on the company, the company is informed that the progress of the case is disclosed as follows:
I. Progress in anti-dumping cases
On September 30, 2009, the US Court of International Trade ruled that the US Diamond Saw Blade Manufacturers Union filed a lawsuit requesting the US Department of Commerce to issue an anti-dumping tax order to import diamond saw blades and their components originating in China and South Korea. Tariff deposit;
On November 4, 2009, the US Department of Commerce issued an anti-dumping tax order in the Federal Register: The US Department of Commerce will notify the US Customs of importing diamond saw blades originating in China and South Korea from January 23, 2009. The component “suspend liquidation†and impose a cash deposit;
On November 4, 2009, the US Court of Appeals for the Federal Circuit decided to suspend the implementation of the US International Trade Court.
The ruling of September 30, 2009;
On November 5, 2009, the US Federal Circuit cancelled its decision on November 4 to suspend the US International Trade Court's September 30, 2009 ruling;
On November 7, 2009, SAINT-GOBAIN ABRASIVES INC., EHAWADIAMONDINDUSTRY CO.LTD and Chinese and Korean companies submitted an urgent application to the US Court of Appeals for the US Circuit to suspend the implementation of US international trade. The court’s ruling of September 30, 2009, suspended the import tariff deposit.
On November 9, 2009, the US Court of Appeals for the Federal Circuit rejected the complaints of Chinese and Korean companies such as Saint-Gobain, South Korea's Erhe Company and the Company to suspend the implementation of the import tariff bond.
At this point, the anti-dumping tax order promulgated by the US Department of Commerce will officially take effect and begin to be implemented. The company has hired a lawyer to actively respond.
Second, the impact of the release of anti-dumping tax orders on the company
According to the anti-dumping tax order issued by the US Department of Commerce on November 4, 2009, US Customs will follow
The 35.51% tax rate imposes a customs deposit on the products of the company that were exported to the United States on January 23, 2009. From January to September 2009, the amount of products involved in the export of the company to the United States was RMB 17,981,400, accounting for 6.75% of the company's operating income during the same period.
At present, the court procedure of Saint-Gobain and South Korea’s two-way company’s appeal against the US International Trade Court’s threat of damage is still in progress. If the above-mentioned company wins the appeal, the anti-dumping case will eventually be With the anti-dumping measures closed, the customs deposits levied by the US Customs will be returned.
If there is any new progress or change in this anti-dumping case, the company will disclose relevant information in a timely manner, and investors are advised to pay attention to investment risks.
Special announcement.
Boshen Tools Co., Ltd.
November 12, 2009
About the US diamond saw blades and parts originating in China and Korea
Announcement on the progress of anti-dumping investigation cases
The company and all members of the board of directors guarantee the truthfulness, accuracy and completeness of the announcement, and assume responsibility for false records, misleading statements or major omissions in the announcement.
Boshen Tools Co., Ltd. (hereinafter referred to as “the Companyâ€) disclosed on the “IPO Prospectus†published on http:// on August 11, 2009. In the United States regarding the anti-dumping investigation of diamond saw blades and components originating in China and South Korea (hereinafter referred to as "anti-dumping cases") and the impact on the company, the company is informed that the progress of the case is disclosed as follows:
I. Progress in anti-dumping cases
On September 30, 2009, the US Court of International Trade ruled that the US Diamond Saw Blade Manufacturers Union filed a lawsuit requesting the US Department of Commerce to issue an anti-dumping tax order to import diamond saw blades and their components originating in China and South Korea. Tariff deposit;
On November 4, 2009, the US Department of Commerce issued an anti-dumping tax order in the Federal Register: The US Department of Commerce will notify the US Customs of importing diamond saw blades originating in China and South Korea from January 23, 2009. The component “suspend liquidation†and impose a cash deposit;
On November 4, 2009, the US Court of Appeals for the Federal Circuit decided to suspend the implementation of the US International Trade Court.
The ruling of September 30, 2009;
On November 5, 2009, the US Federal Circuit cancelled its decision on November 4 to suspend the US International Trade Court's September 30, 2009 ruling;
On November 7, 2009, SAINT-GOBAIN ABRASIVES INC., EHAWADIAMONDINDUSTRY CO.LTD and Chinese and Korean companies submitted an urgent application to the US Court of Appeals for the US Circuit to suspend the implementation of US international trade. The court’s ruling of September 30, 2009, suspended the import tariff deposit.
On November 9, 2009, the US Court of Appeals for the Federal Circuit rejected the complaints of Chinese and Korean companies such as Saint-Gobain, South Korea's Erhe Company and the Company to suspend the implementation of the import tariff bond.
At this point, the anti-dumping tax order promulgated by the US Department of Commerce will officially take effect and begin to be implemented. The company has hired a lawyer to actively respond.
Second, the impact of the release of anti-dumping tax orders on the company
According to the anti-dumping tax order issued by the US Department of Commerce on November 4, 2009, US Customs will follow
The 35.51% tax rate imposes a customs deposit on the products of the company that were exported to the United States on January 23, 2009. From January to September 2009, the amount of products involved in the export of the company to the United States was RMB 17,981,400, accounting for 6.75% of the company's operating income during the same period.
At present, the court procedure of Saint-Gobain and South Korea’s two-way company’s appeal against the US International Trade Court’s threat of damage is still in progress. If the above-mentioned company wins the appeal, the anti-dumping case will eventually be With the anti-dumping measures closed, the customs deposits levied by the US Customs will be returned.
If there is any new progress or change in this anti-dumping case, the company will disclose relevant information in a timely manner, and investors are advised to pay attention to investment risks.
Special announcement.
Boshen Tools Co., Ltd.
November 12, 2009
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