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Mei Da Shares (000782) Announcement Of Important Matters Of The Board Of Directors

2011/1/25 10:49:00 74

Important Announcement Of Guangdong Xinhui Mei Da Nylon Shares Board Of Directors

  

Guangdong Xinhui Mei Da nylon shares

Limited company


  

Announcement of important matters of the board of directors


All members of the company and the board of directors guarantee that the contents of the information disclosure are true, accurate and complete, without false records, misleading statements or major omissions.


In January 24, 2011, the Ministry of Commerce issued the Announcement No. third on 2011, "preliminary ruling on the anti-dumping investigation of imported caprolactam originating in the European Union and the United States".

The Ministry of Commerce issued a notice on April 22, 2010. It should investigate anti-dumping investigations of caprolactam originating in the European Union and the United States on the application of domestic caprolactam industry by Sinopec Baling Branch and Shijiazhuang refining and chemical branch.

The survey period is from January 1, 2009 to December 31, 2009.

According to the findings of the investigation and the anti-dumping regulations, the Ministry of Commerce has preliminarily ruled that the import of caprolactam originating in the European Union and the United States is dumping in the investigation period. The caprolactam industry in China has been substantially damaged, and there is a causal relationship between dumping and material damage.

In accordance with the relevant provisions of the anti dumping regulations, it is decided to implement temporary anti-dumping measures in the form of margin.

Since January 25, 2011, when importing operators to import caprolactam originating from the European Union and the United States, the corresponding margin shall be provided to the People's Republic of China customs according to the dumping margin of the companies determined by the preliminary decision.


The nylon 6 industry chain is caprolactam, nylon 6 slice, nylon 6 fiber and weaving dyeing respectively from top to bottom.

Caprolactam is mainly used in the production of nylon 6 chips, and is further used to make nylon 6 and nylon 6 engineering plastics. It is widely used in wool spinning, knitting, weaving, fishing, tires, engineering plastics, film and composite materials.

The product is classified in the People's Republic of China import and export tariff code: 29337100.


In 2009, the total dosage of caprolactam in China was 930 thousand tons, 330 thousand and 600 tons in China, 601 thousand and 300 tons in imports, and 64.6% in import dependence.

Caprolactam is the main raw material of our company. In 1-11 months of 2010, the company imported about 110 thousand tons, of which 79 thousand and 400 tons were imported from the general trade mode.


The preliminary results of the Ministry of Commerce's anti-dumping actions against caprolactam will have a relatively large negative impact on the import of raw materials by the company. In addition to directly reducing the purchasing channels of raw materials and unfavorable quality of the products, if the company imports the caprolactam from the European Union and the United States, it must pay the People's Republic of China customs the corresponding anti-dumping margin, which directly increases the purchasing cost of the company's raw materials and affects the company's profits.

The company will take comprehensive measures to deal with it positively, and strive to reduce the negative impact of anti-dumping.

The board of directors of the company will pay close attention to and disclose the progress of the incident in a timely manner.


Notice is hereby invited that investors should pay attention to investment risks.


Guangdong Xinhui Mei Da nylon Limited by Share Ltd board of directors


January 25, 2011

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