Rison Group announced that the US Department of Commerce initiated a s

Published: Aug 9, 2023 19:05

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Rison Group announced that the US Department of Commerce initiated a scope investigation on August 7, 2023 on steel wheels with a diameter of 12 to 16.5 inches made in Vietnam using Chinese wheel components. In 2022, the sales revenue of 12 to 16.5 inch small-sized steel wheels exported to the United States by Vietnam Xin Changcheng accounted for 4.69% of the company's audited operating income. Although the investigation has not prohibited the export of the involved products before the final ruling of the US Department of Commerce, downstream importers may suspend the import of the products due to the uncertainty of the investigation results, which may have a certain degree of adverse impact on the sales revenue of Vietnam Xin Changcheng in 2023, but will not have a significant impact on the overall operation of the group companies.

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