On May 24, Huafu’s official website released the “Announcement on the Company’s Subsidiary Akzo Huafu Being Included in the Entity List by the U.S. Department of Commerce.” The original text of the announcement is as follows:
Announcement on the company’s subsidiary Akzo Huafu being included in the Entity List by the U.S. Department of Commerce
The company is concerned that its subsidiary Aksu Huafu Colored Textile Co., Ltd. (hereinafter referred to as “Aksu Huafu”) was included in the entity list by the U.S. Department of Commerce on May 22, 2020. The announcement is as follows:
1. The decision made by the US Department of Commerce is an irresponsible act that ignores the facts. We oppose the politicization of the industry.
2. According to the U.S. Export Administration Regulations, any transactions (including export, re-export and even domestic transfer) of EAR-controlled items between listed entities and U.S. exporters are restricted. Akzo Huafu serves the domestic market. Its raw materials, equipment and technology can avoid products originating from the United States. Being included in the entity list will not affect its daily operations.
3. Since its establishment, Akzo Huafu has aimed to not only be a capable enterprise but also a good enterprise, faithfully fulfill its social responsibilities, abide by relevant laws and regulations, adhere to the business code of conduct, and fully respect the rights of employees. It has passed the certification of domestic and foreign social responsibility agencies many times.
Four. We sincerely thank all sectors of society for their attention to this incident and support for Huafu. Only by being a better version of ourselves can we repay everyone’s continued love. </p
