On April 7th, SAL stated on the interactive platform that among the "reciprocal tariffs" imposed by the United States on goods imported from China, pesticide products were not explicitly listed in the key tax increase range outside the exemption list, and attention should be paid to the risk of a 34% differential tax rate. The company's main products, pesticides, are extremely important for agricultural production, with relatively inelastic demand, while China's pesticide industry is difficult to replace globally. On the other hand, key overseas products such as paraquat and glyphosate are listed in the exemption list, and the company's business volume in the U.S. is relatively small, which limits the overall impact on the company's performance. The company will closely monitor and dynamically assess the impact of the U.S. tariffs on its business, actively communicate with customers, and steadily advance its U.S. business through optimizing supply chain efficiency or adjusting pricing strategies. Meanwhile, the company is focusing on expanding into emerging markets with significant pesticide demand growth, such as South America, Southeast Asia, and Africa, achieving stable growth in self-registered product sales in certain country markets starting in 2024, and initially completing market diversification and localization layout