Boss's announcement on the progress of anti-dumping litigation

On December 25, 2013, Boshen Tools Co., Ltd. (hereinafter referred to as “the Company”) disclosed the “Announcement on the Progress of Anti-Dumping Lawsuits” as detailed in Securities Times, China Securities Journal and Juchao Information Network. The company was informed recently that the United States has made new progress in the anti-dumping investigation cases originating from Chinese diamond saw blades (hereinafter referred to as "anti-dumping cases"). The relevant information is hereby announced as follows:

On December 31, 2012, the US Department of Commerce issued an announcement to initiate a third annual administrative review of anti-dumping cases. The review period was from November 1, 2011 to October 31, 2012. On February 13, 2013, the US Department of Commerce selected the responding company for the third annual administrative review, and the company was selected as a mandatory responding enterprise.

On December 20, 2013, the US Department of Commerce announced the third administrative review preliminary results on the federal notice. The company received a separate tax rate of 3.99%; on June 19, 2014, the US Department of Commerce announced the federal notice. After three administrative review final rulings, the company received a separate tax rate of 4.65%. Since the publication date of the final ruling of the third annual administrative review (June 19, 2014), US Customs has imposed a tariff deposit on the diamond circular saw blades and components imported by the US subsidiary from the company at a final tax rate of 4.65%. (Review period from November 1, 2011 to October 31, 2012).

The announcement of the third annual administrative review final tax rate will not have a significant impact on the company's operating results from January to June 2014. The company continued to maintain its forecast for the first quarter of 2014 for the January-June 2014 operating results.

If there are other new developments in anti-dumping litigation, the company will disclose it in a timely manner.

Special announcement.

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