Many Companies Announced That Export Tax Rebates Had Different Effects.

According to the circular issued jointly by the Ministry of Finance and the State Administration of Taxation, the export rebate rate of some textiles and clothing has increased from 11% to 13% since August 1st.

Many listed companies announced the impact of the export tax rebate adjustment on the company today. Many listed companies claimed that the adjustment had different effects on the company.

With the increase of export tax rebate, some textile enterprises have gained some benefits.

Jiangsu Kaiyuan (600981) said that according to the financial sector estimates, the export tax rebate will affect the company from August 2008 to December, and the total profit will be around 2 million yuan.

Black Peony (600510) is expected to increase the company's total profit in the year of 2008 to about 3 million yuan.

Jiangsu sunshine (600220) estimates that under the premise that export commodity prices remain unchanged, it is expected to increase the pre tax profit by around 6 million yuan in the second half of this year.

Three Lane Lane (600370) is expected to increase profits in the second half of this year, around 900 thousand yuan.

Phoenix Bamboo Textile (600493) is expected to increase the net profit of the company in the second half of this year by 1 million 500 thousand yuan.

Fujian Nanfang (600483) is expected to increase by nearly 80 thousand yuan, which has limited direct impact on the company.

However, many companies believe that the increase in export tax rebates will not have a significant impact on the company's performance.

Taiji industry (600667), Hong Kong share (600400), Zhejiang Fu run (600070) and Nanfang share (600250) said that the adjustment will not have a significant impact on the company's second half of 2008 and its future business performance.

Jiangsu sainty (600287) pointed out that the adjustment will enhance the profitability of the company's contracts in the short term. However, because the profit level of the garment export industry is affected by many factors, the above adjustment has no significant impact on the company's profits.

Sharon A (000553) believes that because of the fact that the company's products are small and its export volume is small, and the export contract of the company's main export products is signed before August 1st, according to the above notice, the tax rebate rate will be implemented before the adjustment. Therefore, the above notice has little effect on the company's performance in the second half of 2008.

The adjustment of export tax rebate also has a negative impact on listed companies.

Hunan Haili (600731) said that after verification, the list of export tax rebates was related to some products of Hunan Haili chemical Limited by Share Ltd and its subsidiaries.

In 2007, the total export volume of Hunan Haili and its subsidiaries amounted to about 286 million yuan, including the total export value of the products that were related to the cancellation of the export tax rebate, which amounted to about 71 million 744 thousand yuan. The total export value of products from January 2008 to June totalled about 199 million yuan, of which the total export value of the products involved in the cancellation of export rebates amounted to about 57 million 689 thousand yuan, and the exported products were still carried out according to the original export tax rebate policy.

The cancellation of export tax rebates for the above products will have a negative impact on the performance of Hunan Haili in the second half of the year.