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Syharvest Aluminum Adaptation to New Export Tax Rebate Policies

On November 15, 2024, China's Ministry of Finance made significant changes to its export tax rebate policies, which had direct consequences for the aluminum manufacturing sector. As a key player in aluminum extrusion, Syharvest Aluminum has proactively embraced these changes, transforming challenges into opportunities through strategic innovations and a focus on environmental sustainability.

Eddie Tan, the CEO of Syharvest Aluminum, stated, "Policy changes present both challenges and opportunities. With digital transformation and expertise in precision manufacturing, Syharvest is well-positioned to deliver high-quality products while also contributing to the green transformation of our industry."

Effective December 1, 2024, the new regulations eliminate tax rebates on aluminum products and reduce rebates for certain refined oil products, photovoltaic components, and non-metallic minerals from 13% to 9%. Syharvest Aluminum has swiftly implemented a comprehensive strategy to adapt to these changes. In the short term, the company capitalized on the two-week window between the announcement and the policy's implementation by prioritizing export shipments, ramping up operations around the clock. From 2023, the company had already invested in digital systems that have since enabled a significant increase in daily production capacity—from 50 tons to 130 tons.

For a sustainable long-term adaptation, Syharvest has dedicated over 30 million RMB towards a digital transformation project in collaboration with Schneider Electric. This strategic investment seeks to enhance production efficiency and transparency. The initiative includes the development of smart production lines and advanced information management platforms.

The establishment of Syharvest CNC Processing in 2023 marks a pivotal move in the group's evolution. This subsidiary aims to refine the product structure by transitioning from aluminum profiles geared towards construction to industrial-grade aluminum and precision-finished products. The updated portfolio now encompasses a variety of cutting-edge products including aluminum heat sinks, industrial lighting profiles, automation profiles, solar frame profiles, medical device components, automotive parts, and electronic device pieces.

Syharvest is now actively pursuing high-value-added orders, collaborating with customers across Europe, North America, Africa, Australia, and Southeast Asia. Additionally, the company plans to participate in international trade fairs to increase its market presence and share.

In line with its commitment to sustainability, Syharvest installed a 2 MW photovoltaic system on its rooftop in 2022, contributing to a substantial reduction in CO2 emissions, amounting to 2,200 tons. Through these strategic initiatives, Syharvest Aluminum aims to mitigate the impacts of policy changes while fostering growth and innovation in the face of an evolving regulatory landscape.

About Syharvest Aluminum

Syharvest Aluminum specializes in the production and sale of customized aluminum alloys, serving diverse industries such as construction, electronics, and automotive. Renowned for its cutting-edge technology and high-quality solutions, Syharvest has established itself as a trusted partner within the industry.

For more information, visit www.syharvest.com.