Tiger Brokers

BUZZ-HK-listed Xin Point drops on flagging impact of US tariffs

Reuters
Apr 17, 2025
BUZZ-HK-listed Xin Point drops on flagging impact of US tariffs

** Xin Point 1571.HK drops 7.6% to HK$2.91, lowest since August 22, 2024

** Stock set for biggest one-day pct drop since April 7

** Chineses automotive and electronic components maker required to pay 159% tariffs on current U.S. exports and says new tariffs will likely impact business and operations

** Co's direct shipments from China to the U.S. subject to tariff accounted for 30.7% of its total revenue for the year ended December 2024

** Says Group unable to concretely assess impact of new tariffs amid ongoing negotiations to pass tariff costs to end consumers and possibilities of relocating manufacturing to lower tariff regions

** YTD, Stock loses 27.3%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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