Export tax rebates cancellation forces industry upgrades; Tongyu New Materials hits the 20% daily limit

On April 7, the electronic chemicals sector surged straight up. Tongyu New Materials (301630.SZ) hit the 20% limit up, Dongyue Silicium Materials (300821.SZ) touched the 20% limit up, Lingwei Technology (301373.SZ) rose nearly 13%, and Guanggang Gases (688548.SH), Feiwote (688371.SH), Fangbang Shares (688020.SH), Ruilian New Materials (688550.SH), Wranrun Shares (002643.SZ), and others followed suit.

In terms of news, recently the Ministry of Finance and the State Taxation Administration jointly issued Announcement No. 2 of 2026, clarifying that starting from April 1, 2026, the VAT export tax rebate policies for a series of products including solar photovoltaic and batteries will be adjusted. Among related products in fluorochemical industry chains—such as lithium hexafluorophosphate (LiPF6) and trichloroethylene—have been included in the scope of cancelling export tax rebates. The relevant adjustments will have a direct impact on the export segment of related industries. Specifically, the product catalog includes multiple categories, such as 2404120000 (tobacco-free or reconstituted tobacco-containing products containing nicotine for non-combustion inhalation), 28269020 lithium hexafluorophosphate, 29032200 trichloroethylene, and others. From April 1, these products will no longer be eligible for VAT export tax rebate policies.

Industry insiders point out that for the relevant foreign trade enterprises, the cost changes brought about by this policy adjustment have already become a given fact, and companies need to make contingency plans as soon as possible. In the short term, enterprises should review existing export orders, accelerate orders that can be cleared through customs before April 1 to fully benefit from the current tax rebate policies; at the same time, they should recalculate the export costs of products, negotiate pricing with overseas customers based on the adjusted rebate rates, and reasonably transfer the cost pressure. In the medium to long term, enterprises need to speed up industrial upgrading, enhance product value-added through technological innovation, and reduce reliance on export tax rebate policies; meanwhile, they should optimize market layout, expand domestic market channels, achieve a dual domestic-and-overseas market loop for development, and offset the cost pressure of overseas exports.

In addition, geopolitical games continue to intensify. According to a report by CCTV News, at a news briefing held at the White House, U.S. President Trump said that if Iran fails to “surrender” by 20:00 on April 7 (Eastern Time), he will launch strikes against Iran’s civilian infrastructure.

Trump claims he will destroy Iran’s bridges and power plants. “I have already drawn up a plan.” Once it is launched, “every bridge inside Iran will be completely destroyed, and every power plant inside Iran will be completely paralyzed.” He also said that if the United States is willing, “the entire destruction process would only take four short hours.” However, he claims he “doesn’t hope this will happen.” Iran could be defeated within a single night—perhaps the evening of the 7th.

According to CCTV News, Iran rules out the possibility of a temporary ceasefire, emphasizing that conflict must be brought to a permanent end, and calling for agreements on safe passage through the Strait of Hormuz, post-war reconstruction, and the lifting of sanctions, among other things. Trump commented that although the proposal is meaningful, it is not good enough.