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Syharvest Aluminum's Adaptation to New Export Tax Policies

On November 15, 2024, the Chinese Ministry of Finance announced significant changes to export tax policies impacting various industries, including aluminum production. Syharvest Aluminum, a leading player in the aluminum extrusion sector, is taking proactive measures to adjust to these new regulations.

Changes in Export Tax Regulations

Starting December 1, 2024, the export tax rebates for aluminum products will be eliminated, while the tax rebates for certain refined oils, photovoltaic components, and non-metallic minerals will be reduced from 13% to 9%. These modifications present both challenges and opportunities for industries reliant on these export conditions.

In light of these policy changes, Syharvest Aluminum has crafted a comprehensive strategy to maintain its competitive edge. Eddie Tan, the CEO of Syharvest Aluminum, stated, “While regulatory changes bring challenges, they also provide avenues for growth. Our commitment to digital transformation and precision manufacturing expertise positions us well to deliver high-quality products while contributing to the industry's green transformation.”

Immediate and Long-Term Strategic Response

In the immediate term, Syharvest leveraged the 14-day window between the announcement and implementation of the new regulations by prioritizing shipments for export clients. Thanks to the digital systems implemented in 2023, the company has enhanced its production capacity from 50 tons to 130 tons per day.

For long-term adaptation, Syharvest Aluminum is investing over 30 million RMB into a digital transformation project in collaboration with Schneider Electric to enhance production efficiency and transparency. The initiative includes establishing smart production lines and advanced information management platforms.

The establishment of the subsidiary, Syharvest CNC Processing, in 2023 marks a new phase in the company’s development, focusing on optimizing its product structure. This shift includes a move from standard aluminum profiles to industrial-grade aluminum and precision-crafted products. Their new portfolio features various products, including aluminum heat sinks, industrial lighting profiles, automation components, solar framework profiles, and medical, automotive, and electronic device parts.

Focus on High-Value Contracts and Sustainability

Syharvest is looking toward lucrative contracts and collaborating with clients across Europe, North America, Africa, Australia, and Southeast Asia. Additionally, the company will participate in international expos to expand its market presence.

Sustainability remains a cornerstone of Syharvest Aluminum’s operations. In 2022, they installed a 2-MW rooftop photovoltaic system, reducing their CO2 emissions by 2,200 tons.

Overall, Syharvest is confident that their strategic initiatives will mitigate the impacts of the policy changes and foster growth and innovation for the future.

About Syharvest Aluminum

Syharvest Aluminum specializes in the manufacturing and sale of custom aluminum alloys, serving industries such as construction, electronics, and automotive. Renowned for its advanced technology and high-quality solutions, Syharvest Aluminum is a reliable partner in the industry.

For more information, visit www.syharvest.com.