Positive progress of double counterclaim of Wanshun new material

Jiangsu Zhongji has an important influence on the performance of Wanshun New Material Co., Ltd., and the result of this lawsuit has also attracted extensive attention of investors. In an interview with Securities Daily, Huang Wei, Secretary of Wanshun new materials, said that the result of the new ruling is unpredictable and will not have a significant impact on the company's operation.

The core business of Jiangsu Zhongji is the R & D, production and sales of high-precision aluminum foil. Its products are mainly used in packaging, daily use, electrical industry, construction industry and other industries. According to Jiangsu Zhongji's 2016 annual report, the company's foreign business income accounts for 62.97% of the total income, and its foreign exports are mainly to the United States, Europe, Japan, South Korea, Southeast Asia and other countries.

Jiangsu Zhongji has a great influence on the performance of Wanshun new materials. In 2017 and 2018, the operating revenue of Jiangsu Zhongji was 2.071 billion yuan and 2.666 billion yuan, respectively, with a net profit of 48.66 million yuan and 129 million yuan; in the same period, the operating revenue of Wanshun new materials was 3.213 billion yuan and 4.169 billion yuan, respectively, with a net profit of 79.62 million yuan and 122 million yuan. How Wanshun new materials deal with the impact of the "double anti" investigation of its subsidiaries has also attracted the attention of investors.

"Since 2018, the United States has imposed additional tariffs. Since then, we have increased market expansion in other regions of the world in the aluminum foil business to ensure the overall stability of the aluminum foil export business. We are now global, even if the final ruling is against us and the business in the U.S. region has an impact, the performance in other regions will make up for it. " That's what Huang Wei said.