Wanfeng Olympic sales or shrink 123 million yuan this year

The European Union's anti-dumping investigation into China's aluminum alloy wheels has been first laid, and the European Union yesterday decided to impose a maximum of 20.6% temporary anti-dumping duties on aluminium wheels from China.　　The only company that exports aluminum alloy wheels to the European Union in a a-share market said last night that it would shrink its sales in the European Union by 40%, an approximate 123 million yuan. European Union Provisional anti-dumping Duties European Commission said in Tuesday, the survey found that imports from China's aluminum wheels damaged the interests of European producers.　　The production and sales of EU manufacturers have fallen sharply, the market share has shrunk and prices have fallen, under the impact of Chinese products. "Hence the imposition of temporary anti-dumping duties on imported aluminium wheels from China."　　The European Commission said in an official European Union publication. The anti-dumping investigation began in August 2009. The European Commission decided to conduct anti-dumping investigations into the aluminium alloy wheels exported to the European Union, as a result of the unfair competition filed by its manufacturers.　　But the initial ruling has a lower-than-expected 33% per cent of the market. Yang Huashu, a researcher at Everbright Securities, said the decision would be a temporary levy, and Chinese companies would probably draw a counter to it.　　According to the EU Anti-dumping investigation procedure, the EU Executive Committee will issue the final verdict within 6 months. In the EU sales or 40% to this, the domestic aluminum alloy hub of the leading enterprises Wanfeng Owei last night, by the initial results of the impact, the company is expected to be in the EU sales will fall by about 40%.　　Data show that 2010 1-April, Wanfeng Owei in the European Union to achieve sales of 73.5613 million Yuan, was scheduled to achieve the 2010 in the EU sales of 308 million yuan. "The company will make up for the decline in the European market by increasing the supply of domestic markets and expanding international markets outside the EU, such as Japan and the US," Wanfeng Owei said in a statement. Analysts said that this year, domestic car companies face the "internal and international" double attack. In the context of the global rise in trade protectionism, export markets are difficult to make a big improvement, from the domestic level, in the last year's subsidy policy stimulus, domestic car demand "has been the market has been overdrawn this year." But the market is not too much concern for the upstream purchasing costs of hub enterprises, "although there are inflationary expectations, but most companies have done hedging, the cost will not rise very much." "According to Wanfeng's earnings, the company's hub domestic and international sales were equal at 650 million to 660 million yuan last year." Market participants calculate that the EU's tax estimates will affect Wanfeng's main income of about 10%, the said said: "In addition to new energy vehicles, investors do not have a high expectation for the car stocks this year's valuation, a reasonable valuation of about 10 times times pe." Yesterday million-Fung Olympian fell 1.94%, closed to 9.6 yuan.