External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

Zhejiang Dingli Machinery  L / Equity Bottom-Up

<ul><li>We believe the finalization of Dingli’s anti-dumping (AD) duties (in EU) at 20.7% is a better-than-feared result, given that such rate reduced from the preliminary rate of 31.3% and is now the lowest among all Chinese manufacturers.</li><li>This suggests that, in EU, Dingli will enjoy competitive advantage among Chinese players.</li><li>This decision, together with the finalisation of AD duties in the US (reduced from 31.54% to 12.39%) earlier, implies that the overall duties will be reduced going forward, which offers a buffer for the potential tariff increase suggested by the president-elect in the US. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We believe the finalization of Dingli’s anti-dumping (AD) duties (in EU) at 20.7% is a better-than-feared result, given that such rate reduced from the preliminary rate of 31.3% and is now the lowest among all Chinese manufacturers.This suggests that, in EU, Dingli will enjoy competitive advantage among Chinese players.This decision, together with the finalisation of AD duties in the US (reduced from 31.54% to 12.39%) earlier, implies that the overall duties will be reduced going forward, which offers a buffer for the potential tariff increase suggested by the president-elect in the US. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Zhejiang Dingli (603338 CH) - Competitive Advantage in Place with Reduced AD Duties in EU