里昂发表研究报告指，相比起美国2018年的关税政策，明年可能实施的“特朗普2.0关税”覆盖范围更广泛，全球市场都将受到影响，同时六年过去中国的出口已变得更多元化，对美国的依赖度已有所下降，品牌及OEM公司的业务已较五至六年更具防守性，相信更能适应政策变化。
里昂指出，对于品牌商而言，提价可能是较容易的手段来应对关税措施，但相信行业龙头不会轻易尝试，而是会致力于平衡市场份额与盈利能力，预期品牌和OEM公司会通过优化成本结构，来达至长期可持续发展。在美国关税潜在影响下，该行列安踏(02020.HK) 、普拉达(01913.HK) 、新秀丽(01910.HK) 及裕元(00551.HK) 为首选股，认为普遍具有良好防守性，均给予“跑赢大市”评级，目标价分别为108元、68元、22元及21元。(gc/da)(港股报价延迟最少十五分钟。沽空资料截至 2024-12-06 16:25。)
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