FOSHAN, China, Dec. 2, 2024 /PRNewswire/ -- On November 15, 2024, China's Ministry of Finance announced an adjustment to the export tax rebate policy, impacting various industries, including aluminum manufacturing and export. Syharvest Aluminum, a prominent player in the aluminum extrusion sector, has taken proactive measures to address both the immediate and future challenges posed by this adjustment.
Eddie Tan, CEO of Syharvest Aluminum, emphasized the dual nature of policy changes, stating, "Policy changes bring challenges, but they also create opportunities. With leading digital transformation initiatives and expertise in precision manufacturing, Syharvest is well-positioned to deliver superior products and services to a global clientele while contributing to the green transformation of the industry."
The policy adjustments, effective from December 1, 2024, will see the cancellation of export tax rebates for aluminum products and a reduction in the rebate rate for specific refined oil, photovoltaic components, batteries, and non-metallic minerals from 13% to 9%. In response to the evolving policy landscape, Syharvest Aluminum has devised a comprehensive strategy.
In the short term, the company has leveraged the 14-day window between the policy announcement and its implementation to prioritize shipments for export clients. By operating around the clock and utilizing digital systems implemented since 2023, Syharvest Aluminum has significantly increased its production capacity from 50 tons to 130 tons per day.
For long-term adaptation, Syharvest Aluminum has identified several key areas of focus. Since 2023, the company has partnered with Schneider Electric to embark on a comprehensive digital transformation project, investing over 30 million RMB in advanced information management platforms and smart production lines. This initiative has markedly improved production efficiency and management transparency, positioning the company advantageously in the face of policy changes.
The establishment of Syharvest Aluminum's subsidiary, Syharvest CNC Processing in 2023, represents a new phase in the group's development. The subsidiary aims to optimize the order structure by transitioning from construction aluminum profiles to industrial-grade aluminum and precision-finished products. The company's portfolio now features aluminum heatsinks, aluminum housings equipment profiles, industrial lighting profiles, automation industrial profiles, solar frames profiles, medical device aluminum parts, automotive components, and high-end electronics. The company provides end-to-end solutions, including extrusion, precision processing, and custom design.
Meanwhile, Syharvest Aluminum is dedicated to ensuring customer satisfaction by leveraging the recent policy changes to enhance its focus on high-value-added orders. The company actively collaborates with clients across Europe, North America, Africa, Australia, and Southeast Asia, providing customized solutions tailored to meet the unique demands of each market. Additionally, the company plans to participate in international trade fairs and industry events to strengthen its brand presence and increase its market share.
Furthermore, Syharvest Aluminum prioritizes sustainability by incorporating energy-efficient technologies to reduce energy use and carbon emissions. In 2022, the company installed a 2 MW rooftop photovoltaic system, cutting 2,200 tons of CO2 emissions, enhancing its reputation and leadership in green production.
Syharvest Aluminum is confident its strategic preparations will mitigate the impact of the policy changes while unlocking growth and innovation opportunities. By aligning operations with global market demands, the company reaffirms its dedication to delivering high-quality products and services worldwide.
About Syharvest Aluminum
Syharvest Aluminum is an innovative company specializing in the custom production and sales of aluminum alloy products. Dedicated to providing high-quality aluminum solutions to clients worldwide, its products find extensive application in industries such as construction, electronics, and automotive. With cutting-edge technology, stringent quality control, and exceptional customer service, Syharvest Aluminum has become a trusted partner within the industry.
For more information, please visit: www.syharvest.com.
Contact: info@syharvest.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Syharvest Aluminum Adapts to New Export Tax Rebate Policies with Strategic Innovations and Green Initiatives
