From December 1, China's export tax rebate rate for many products will increase to 9%-14%. This is the third time this year to increase the export tax rebate rate. In the past two days, many companies have explained the increase in export tax rebate rate. Generally speaking, these companies will benefit from the new policy, but the benefits will vary.
Chemical companies increase revenue
In this adjustment, various products in the chemical industry such as pesticides, rubber products, daily chemicals, and medical chemicals were ranked among them. The industry generally believes that the further increase in the export tax rebate rate and the reduction in export tariffs will increase the profits of the chemical industry and will help the industry establish confidence and maintain stable production.
Taking pesticides as an example, most of the pesticides involved are listed in the “double-high†catalogue, including most of them. Listed companies Zhongliou shares, Xinan shares and Lier Chemicals will benefit. Leo shares most of the products included in this adjustment. The company's holding subsidiary Zhejiang Dainong Industry's products are also included. The company stated that this will have a positive impact on the company's 2008 net profit.
Analysts said that due to the implementation of only one month this year, it will have less impact on related companies this year. For example, the main products of Meihua Umbrella and its two subsidiary companies are included in the list of goods, and the VAT export tax rebate rate has been raised from 11% to 13%, but previously estimated net profit is “reduced by 30%-60% from the previous yearâ€. change. Next year will depend on the number of exports and whether the importers will lower their prices, but overall it will be beneficial to companies involved. Like Zhongding, according to the existing export business, the company estimates that it can increase profits by 3 to 4 million yuan, which is equivalent to 4% of last year's net profit.
Appliance companies have little influence
The increase in tax rebate rate also includes home appliances such as air conditioners, refrigerators, washing machines, and televisions. The export tax rebate rate has been raised from 13% to 14%, which is only 1 percentage point. A home appliance industry researcher said that the current home appliance industry's biggest dilemma comes from insufficient demand, and raising the export tax rebate rate is good for the industry, but overall it is smaller. Because foreign purchasers will generally lower their export prices after adjustments, a large part of the profit growth from export tax rebates cannot flow into listed companies.
As a whole, the household electrical appliance industry's exports account for a relatively high share of the benefits of Yilipu, BDO Runda and TCL Group, etc.; the three largest air-conditioning production enterprises export ratio, from the highest to the lowest for the United States, Gree and Haier, the company's net The effect of profits depends on the bargaining power of export products.
Leading companies benefit more
In contrast, export tax rebates have increased, and leading companies in various industries have benefited more. Such as the copper tube production industry Hailiang shares, glyphosate industry Xinan shares, corticosteroid industry in the days of drug shares. Tianyao is the largest pharmaceutical company in Asia and the third largest in the world. It specializes in the research, development and production of corticosteroids. Its annual export sales account for more than 60% of total revenue. Tian Yao shares announced yesterday that the company's exports of corticosteroids drug export tax rebate rate, from 5% to 9%. In December 2007, the company exported 3.084 million US dollars of corticosteroids raw materials. The increase in export tax rebate rate may have a positive impact on the company's future performance. According to the analysis, the export tax rebate rate for corticosteroids will be raised by 4 percentage points, and will contribute more than 20 million yuan to the company's profits next year, accounting for 10% of the net profit for that year.