Ministry Of Industry And Information Technology And Two Other Departments Adjust Technical Requirements For New Energy Vehicle Purchase Tax Exemption In 2026-2027

On October 9, TCL Technology (000100) announced that its controlling subsidiary, TCL China Star Optoelectronics Technology Co., Ltd., has completed the acquisition of 80% of the equity of LG Display (China) Co., Ltd. (referred to as "LGDCA") and 100% of the equity of LG Display (Guangzhou) Co., Ltd. (referred to as "LGDGZ") held by LG Display Co., Ltd. and its affiliates. According to the audit by the accountants and the negotiation with the counterparty, the final acquisition amount agreed upon in the transaction agreement is 11.088 billion yuan.

On October 11, international oil prices fell significantly on the 10th. As of the close of trading that day, the price of light crude oil futures for November delivery on the New York Mercantile Exchange dropped by $2.61, closing at $58.90 per barrel, a decline of 4.24%. The price of Brent crude oil futures for December delivery fell by $2.49, closing at $62.73 per barrel, a decrease of 3.82%.

On October 9, the Ministry of Industry and Information Technology and two other departments issued the "Announcement on the Technical Requirements for New Energy Vehicle Products Eligible for Vehicle Purchase Tax Reduction and Exemption in 2026-2027" (hereinafter referred to as the "Announcement"), which adjusted the technical requirements for pure electric passenger vehicles and plug-in (including extended-range) hybrid passenger vehicles. The most significant change is that the pure electric range of plug-in (including extended-range) hybrid passenger vehicles should meet the conditionally equivalent full electric range, which has been adjusted from the previous 43 kilometers to not less than 100 kilometers. Additionally, according to the "Announcement," models that have been included in the "Tax Reduction and Exemption Directory" and meet the technical requirements of this announcement by December 31, 2025, will automatically be transferred to the first phase of the "Tax Reduction and Exemption Directory" in 2026. Models that do not meet the requirements will be removed from the "Tax Reduction and Exemption Directory."

According to the China Trade Remedy Information Network, on September 29, 2025, the Indian Ministry of Commerce announced that it has initiated an anti-dumping investigation against mobile covers originating from or imported from China, based on a petition submitted by the All India Mobile Covers Manufacturers Association. The Indian customs codes for the products involved are 392690, 392610, 392640, 392620, 851779, 851769, and 851770. The period for the dumping investigation is from April 1, 2024, to March 31, 2025, while the injury investigation period covers April 1, 2021, to March 31, 2022, April 1, 2022, to March 31, 2023, April 1, 2023, to March 31, 2024, and April 1, 2024, to March 31, 2025.