GUOLIN TECHNOLOGY: The EU's imposition of anti-dumping duties on Chinese glyoxylic acid products has a relatively small impact on the company's production and operations

GUOLIN TECHNOLOGY announced that the European Commission has published the final ruling on the anti-dumping investigation of Chinese glycolic acid products. Glycolic acid produced by Xinjiang GUOLIN is subject to an anti-dumping duty of 57.30%, while glycolic acid products from other Chinese companies are subject to anti-dumping duties ranging from 29.20% to 124.90%. The anti-dumping measures will take effect from the date of announcement and will last for 5 years. In the first half of 2024 and 2025, the revenue from the company's glycolic acid products exported to the EU accounted for 3.50% and 1.27% of total revenue, respectively, and the imposition of this anti-dumping duty will have a relatively small impact on the company's production and operations. The company will increase its product research and development efforts, reduce costs and increase efficiency, and explore sales markets outside the EU to mitigate the impact of the anti-dumping duties on the company