Nasda was listed in the Entity List by the United States Department of Homeland Security of the United States, and its share price fell sharply!

Tech 2023-06-12 11:43:14 Source: Network

On the evening of June 11, Nasda announced that the United States Department of Homeland Security had included Nasda and some of its local subsidiaries in the Entity List of the Uighur Forced Labor Prevention Act (UFLPA).Nasda stated that the company has always strictly adhered to the laws and regulations applicable to its business operations, adhered to international labor protection standards, and fully protected the legitimate rights and interests of workers

On the evening of June 11, Nasda announced that the United States Department of Homeland Security had included Nasda and some of its local subsidiaries in the Entity List of the Uighur Forced Labor Prevention Act (UFLPA).

Nasda stated that the company has always strictly adhered to the laws and regulations applicable to its business operations, adhered to international labor protection standards, and fully protected the legitimate rights and interests of workers. The company continues to strive to provide all employees with an equal, friendly, and positive work atmosphere and career development opportunities. At present, the company is conducting a comprehensive assessment of the potential impact of this incident on the company and taking measures to address it.

It is reported that the products of enterprises listed in the UFLPA Entity List will be detained, excluded or detained by the U.S. Customs and Border Protection (CBP) when exported to the United States. Importers can provide clear and convincing evidence to CBP requesting exceptions to UFLPA's rebuttable presumption.

At the same time, the importer can also submit evidence to prove that the goods are beyond the jurisdiction of UFLPA, that is, the imported goods and their inputs are completely from outside the restricted areas and are not related to the entities on the UFLPA Entity List. If the evidence is successful, the importer does not need to obtain an exception from UFLPA's presumption, and CBP will release the goods on the premise that they do not violate other laws.

According to data, NASDAQ was founded in 2000 and has been focusing on the printing and imaging industry for 21 years. Currently, it has become the world's fourth largest laser printer manufacturer and an excellent integrated circuit design enterprise in the industry. The company has achieved full coverage of the printing industry chain, with business covering more than 150 countries and regions worldwide. It has well-known brands in multiple industries, including "APEXMIC", "Gezhige", "G& G", "StaticControl", "LEXMARK", "PANTUM", and so on.

Currently, NASDAQ has over 23000 employees worldwide, with R&D personnel accounting for 20%. The company's product technology covers the entire industry chain of laser printers, including laser printers, supporting original consumables, printer control chips, printing consumables chips, printer core components, general MCU chips, printing consumables, and other fields. It has 4885 independently developed patents, including 3378 invention patents (as of December 31, 2021).

In 2022, NASDAQ achieved a revenue of 25.855 billion yuan, a year-on-year increase of 13.44%; The net profit was 2.054 billion yuan, a year-on-year increase of 28.65%; The net profit attributable to shareholders of the listed company was 1.863 billion yuan, a year-on-year increase of 60.14%. According to public information, NASDAQ's main business covers the entire printer industry chain business, integrated circuit business (printing chips, non printing chips), and so on. In 2022, the company's export business revenue accounted for approximately 70%. In the first quarter of 2023, the company achieved a total operating revenue of 6.519 billion yuan, a year-on-year increase of 11.75%; The net profit attributable to the parent company was 212 million yuan, a year-on-year decrease of 52.01%; The net profit after deduction was 203 million yuan, a year-on-year decrease of 48.56%.

It is worth noting that at the same time, Zhongtai Chemical also announced that it was informed on June 10 that the U.S. Department of Homeland security included the company in the list of entities under the Uighur Forced Labor Prevention Act.

Affected by this news, after the opening of A-shares on June 12th, the stock price of NASDAQ was close to the daily limit, and as of the time of publication, the stock price still fell by over 6%.

Editor: Xinzhixun - Langke Sword

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