Greenpass Technology: The U.S. Department of Commerce announces the final ruling on the initiation of a dual anti-dumping and anti-subsidy investigation on specific low-speed manned vehicles.

GreenPass Technology Announcement: The U.S. Department of Commerce has recently made a final ruling on the anti-dumping and countervailing investigation on certain low-speed passenger vehicles imported from China. According to the final ruling, GreenPass Technology's anti-dumping duty deposit rate is 119.33% and the countervailing duty deposit rate is 31.45%. In addition, other Chinese exporters have an anti-dumping duty deposit rate of 478.09% and a countervailing duty deposit rate of 41.14%. In 2024, the company's total revenue from the U.S. amounted to 242 million yuan, accounting for 29.14% of the company's operating income; from January to March 2025, the company's U.S. revenue totaled 24.10 million yuan, accounting for 14.63% of the company's operating income. The company stated that if the final ruling tax rates are implemented, it is expected to have a significant adverse impact on the company's market development in the United States.