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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Guangdong Haomei New Material Co., Ltd.    002988   CNE100003SW5

GUANGDONG HAOMEI NEW MATERIAL CO., LTD.

(002988)
  Report
End-of-day quote. End-of-day quote SHENZHEN STOCK EXCHANGE - 11/26
16.92 CNY   +1.44%
10/13EU imposes tariffs on aluminium products from China
RE
09/24European producers welcome EU provisional duties on China aluminium
RE
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EU imposes tariffs on aluminium products from China

10/13/2020 | 05:09am EST
FILE PHOTO: Aluminium bar stock inside a factory in Dongguan, China

BRUSSELS (Reuters) - The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices.

The EU official journal said on Tuesday that the duties, ranging from 30.4 to 48.0%, would apply from Wednesday. The duties are provisional, meaning they will apply until the investigation's expected completion by April.

At that point, the bloc could apply duties for five years.

The European Commission, which coordinates trade policy in the 27-nation European Union, opened an investigation in February into the product widely used in transport, construction and electronics after a complaint from industry body European Aluminium.

Members of European Aluminium include Norsk Hydro, Rio Tinto, and Alcoa.

China's metals association has called the complaint groundless.

The duties will be of 30.4% for Guangdong Haomei New Materials Co Ltd and Guangdong King Metal Light Alloy Technology Co Ltd, while Press Metal International Ltd will see duties of 38.2%.

Other "cooperating" companies would face duties of 34.9% and material from all other companies would see charges of 48%.

(Reporting by Philip Blenkinsop, editing by Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALCOA CORPORATION 0.54% 20.48 Delayed Quote.-4.79%
GUANGDONG HAOMEI NEW MATERIAL CO., LTD. 1.44% 16.92 End-of-day quote.0.00%
MIDWAY LIMITED -1.48% 1 End-of-day quote.-49.37%
NORSK HYDRO ASA -0.05% 36.48 Delayed Quote.11.76%
RIO TINTO PLC 0.43% 4922.5 Delayed Quote.9.32%
All news about GUANGDONG HAOMEI NEW MATERIAL CO., LTD.
10/13EU imposes tariffs on aluminium products from China
RE
09/24European producers welcome EU provisional duties on China aluminium
RE
More news
Financials
Sales 2019 2 968 M 451 M 451 M
Net income 2019 167 M 25,5 M 25,5 M
Net Debt 2019 630 M 95,8 M 95,8 M
P/E ratio 2019 -
Yield 2019 -
Capitalization 3 873 M 589 M 589 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees 3 059
Free-Float 25,0%
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Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 16,64 
Spread / Highest target -
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Managers
NameTitle
Wei Feng Dong Chairman & General Manager
Xing Mei Liang Chairman-Supervisory Board
Zhong Min Xu Chief Financial Officer
Xue Qin Li Vice Chairman
Bi He Ye Director