What's the matter? Chemical companies were restricted

According to a report on June 10, the US Department of Homeland Security announced on June 9 (local time) a ban on imports from Chinese printer manufacturers Nstar and Xinjiang Zhongtai Chemical, citing the so-called "forced labor" involved in these companies.

The two Chinese companies have been added to the entity list of the so-called Uyghur Forced Labor Prevention Act, which will restrict the entry of goods produced by the companies and their subsidiaries into the US, according to a news release on the website of the US Department of Homeland Security on Thursday local time. On June 21, 2022, the US implemented the so-called Uyghur Forced Labor Prevention Act, and now 22 companies are on the import ban list. China has repeatedly denied the US accusation of "forced labor".

On the evening of June 12, Zhongtai Chemical issued a voluntary information disclosure notice regarding its inclusion in the Entity List by the US Department of Homeland Security.

According to the announcement, on June 10, 2023, Xinjiang Zhongtai Chemical Co., Ltd. was informed that the US Department of Homeland Security included the company in the entity list of the "Uyghur Forced Labor Prevention Act". The company's operating revenue in 2022 will reach 55.911 billion yuan, of which domestic revenue accounts for 93.37% and export revenue accounts for 6.63%. The inclusion on the entity list will not have a significant impact on the company's production and operation. At present, the company is comprehensively evaluating the potential impact of this incident on the company, and will actively communicate with relevant departments to do a good job in response.