Bo Shen: Announcement on the progress of anti-dumping litigation

**Abstract** Stock Code: 002282 Securities Abbreviation: Boshen Tools Announcement No.: 2013-019 **Boshen Tools Co., Ltd. Announcement on the Progress of Anti-Dumping Litigation** The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or material omissions. On June 22, 2013, Boshen Tools Co., Ltd. (hereinafter referred to as “the Company”) released the “Announcement on the Progress of Anti-Dumping Lawsuits.” On July 23, 2013, the Company received a notice from Shanghai Jintiancheng (Beijing) Law Firm regarding new developments in the U.S. anti-dumping investigation involving Chinese diamond saw blades. Below is an update on the relevant situation. On June 17, 2013, the U.S. Department of Commerce announced the final results of the second annual administrative review of the anti-dumping case (review period: November 1, 2010 – October 31, 2011), and the Company was granted a final duty rate of 8.1%. However, on July 19, 2013, the U.S. Department of Commerce issued a revised final ruling for the same administrative review. According to the updated decision, the Company’s dumping margin during the review period was set to zero. As a result, the Company will be subject to a zero tax rate for this period. Since the revision of the final results on July 19, 2013, U.S. Customs has ceased collecting deposits on diamond circular saw blades and related components imported by the Company’s U.S. subsidiary until the announcement of the third annual administrative review (review period: November 1, 2011 – October 31, 2012). The Company was selected as a cooperating party for the third annual review on February 13, 2013, and the review is currently ongoing. It is important to note that the revised final duty rate from the second annual administrative review does not affect the Company’s financial performance estimates for January–June 2013. Furthermore, it is not expected to have a material impact on the Company’s operating results for the current year. This is a special announcement. Boshen Tools Co., Ltd. July 24, 2013

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