0749 GMT - Huaming Power Equipment's impact from U.S. reciprocal tariffs is likely limited, Nomura's Ethan Zhang says, citing the company. The Chinese voltage regulation solutions provider's revenue from the U.S. market is low, at levels less than 5%, the analyst notes. The company has achieved over 80% self-production of components, and is capable of fully localizing its supply chain in China, thereby enabling production costs to have low exposure to tariffs' impact, according to management. However, Nomura cuts its 2025-2026 earnings forecasts for the company by 6%-7% to partly reflect higher-than-expected depreciation expenses. Nomura in a research report lowers the stock's target price to CNY18.00 from CNY21.00 with an unchanged buy rating. Shares closed 2.1% lower at CNY13.96. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 03:49 ET (07:49 GMT)
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