Biotest Biotech's Overseas Subsidiary Receives US Tariff Refund of US$1.0572 Million

Stock News11-06 15:52

Biotest Biotech (688767.SH) has announced that its overseas subsidiary, ADVIN BIOTECH, INC. ("ADVIN"), has recently received tariff refund payments from the US Customs and Border Protection (CBP) in multiple installments.

Because the US Supreme Court ruled that the reciprocal tariffs imposed by the US government under the International Emergency Economic Powers Act (IEEPA) lacked statutory authorization, the relevant tariff measures were invalid from the outset, and tariffs already collected must be refunded to importers.

As the US Customs and Border Protection's related work has progressed, ADVIN has so far cumulatively received refunded tariffs and interest totaling US$1.0572 million, which, converted at the central parity rate of RMB 6.7156 per US dollar on November 5, 2026, is equivalent to approximately RMB 7.0995 million.

This amount accounts for 14.41% of the company's net profit attributable to shareholders of the listed company in the most recent audited period, which was RMB 49.2534 million.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment