Chunfeng Power receives 262 million US tax refunds, expected to increase net profit by 183 million for the whole year

On the evening of August 12th, Chunfeng Power (stock code: 603129), the largest all terrain vehicle export company in China, announced that its wholly-owned subsidiary in the United States, CFMOTO POWERSPORTS, INCCFP has recently received a total of $38.6079 million in US tariff refunds. Equivalent to approximately 262 million Chinese yuan. It is expected to affect the company's net profit of approximately RMB 183 million in 2026. The announcement stated that in February of this year, the US Supreme Court ruled that the government's imposition of tariffs exceeded its legal authority, and the relevant tariff measures were invalid from the beginning. The tariffs collected from US importers must be fully refunded and interest must be calculated. The US Customs and Border Protection (CBP) officially launched the tax refund process on April 20, 2026. 262 million is the cumulative tax refund received by subsidiary CFP so far. Chunfeng Power was founded in 1989 and is headquartered in Hangzhou, Zhejiang. Its main businesses include all terrain vehicles (contributing nearly half of its revenue), fuel motorcycles, and electric two wheelers. Over 70% of its revenue comes from overseas, with all terrain vehicle exports accounting for 74.01% of similar products in China. In 2025, Chunfeng Power will rapidly expand its market share in North America with high cost-effectiveness, with North American business revenue reaching 6.978 billion yuan, accounting for 36.36%, surpassing Europe for the first time to become the company's largest single market. The price of its high-performance models is only 50% -70% of that of the leading American North Star, and high-end models are popular in the United States.