Shanghai Jahwa United Unit Receives Over 32 Million Yuan in US Tariff Refund
MT Newswires Live
Aug 14
Shanghai Jahwa United (SHA:600315) U.S. unit Mayborn USA has received about 32.3 million yuan in tariff refunds and interest from the U.S. Customs and Border Protection.
The amount represented 12.08% of the company's latest audited net profit, according to a Friday filing with the Shanghai bourse.
The refund follows a U.S. Supreme Court ruling in February that struck down reciprocal tariffs imposed under the International Emergency Economic Powers Act, ordering the return of collected tariffs.
Shares of the skin and hair care products manufacturer closed 1% lower Friday.
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.