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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>Xiaomi /In Depth: Fatal crash sours Xiaomi’s EV success</li><li>Wearables /: Chinese wearable tech firms explore overseas production as U.S. tariffs soar</li><li>Tariff bullying: Senior Communist Party official Xia Baolong got fired up during a national security speech in Hong Kong on Tuesday, condemning the U.S.’ 145% tariff on imports from the free port city as “outrageous bullying and utterly shameless.</li></ul>

Xiaomi /In Depth: Fatal crash sours Xiaomi’s EV successWearables /: Chinese wearable tech firms explore overseas production as U.S. tariffs soarTariff bullying: Senior Communist Party official Xia Baolong got fired up during a national security speech in Hong Kong on Tuesday, condemning the U.S.’ 145% tariff on imports from the free port city as “outrageous bullying and utterly shameless.

CX Daily: Fatal Crash Sours Xiaomi’s EV Success 

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>The US's CBP published an updated guidance on 11 Apr to exempt 20 product categories (incl. smartphones, PCs, servers and tablets) from reciprocal tariffs (i.e. 125% China tariff and 10% global tariff).</li><li>However, the US commerce secretary stated on 13 Apr (link) that tariff exemptions for electronic devices were temporary and electronics will come under separate tariffs, along with semiconductors that will be imposed in a month or two.</li><li>Overall, while the upcoming electronics tariff remains an overhang in the near term, we believe 1) the new tariff (vs. 25% for other sectoral tariffs) will be lower than the 125% for China’s previous reciprocal tariff, and 2) recent sector correction has priced in the worst scenario for reciprocal tariffs. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The US's CBP published an updated guidance on 11 Apr to exempt 20 product categories (incl. smartphones, PCs, servers and tablets) from reciprocal tariffs (i.e. 125% China tariff and 10% global tariff).However, the US commerce secretary stated on 13 Apr (link) that tariff exemptions for electronic devices were temporary and electronics will come under separate tariffs, along with semiconductors that will be imposed in a month or two.Overall, while the upcoming electronics tariff remains an overhang in the near term, we believe 1) the new tariff (vs. 25% for other sectoral tariffs) will be lower than the 125% for China’s previous reciprocal tariff, and 2) recent sector correction has priced in the worst scenario for reciprocal tariffs. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Technology - US Tariff Updates: Reciprocal Tariff Exemptions for Smartphone /PC...

<ul><li>Tariffs /In Depth: China’s export machine stalls under Trump’s new trade blitz</li><li>Hong Kong /: Hong Kong stock market rides tech fever to bumper first quarter</li><li>Jewelry /In Depth: For Laopu Gold, the jewelry isn’t the only thing that’s expensive</li></ul>

Tariffs /In Depth: China’s export machine stalls under Trump’s new trade blitzHong Kong /: Hong Kong stock market rides tech fever to bumper first quarterJewelry /In Depth: For Laopu Gold, the jewelry isn’t the only thing that’s expensive

CX Daily: China’s Export Machine Stalls Under Trump’s New Trade Blitz 

<ul><li>Following our note last week, we received investor questions focused on 1) “20% US content rule” exemptions, 2) impact of China 34% tariff' on the US, 3) Vietnam proposed 0% tariff, 4) de-minimis rule removal, 5) bottom-fishing opportunities, and 6) company feedback/response on the new tariff. Below we offer perspectives on investor FAQs regarding the implications.</li><li>Despite sector valuation still being 15-20% away from the historical trough now, we would start to look for some quality names to accumulate on further weakness, including Xiaomi, AAC, Sunny Optical, BYDE and Q-tech.</li><li>“20% US content rule” exemptions in “Annex III” sub-document? The US White House published a sub-document, Annex II, for the US Reciprocal Tariffs.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Following our note last week, we received investor questions focused on 1) “20% US content rule” exemptions, 2) impact of China 34% tariff' on the US, 3) Vietnam proposed 0% tariff, 4) de-minimis rule removal, 5) bottom-fishing opportunities, and 6) company feedback/response on the new tariff. Below we offer perspectives on investor FAQs regarding the implications.Despite sector valuation still being 15-20% away from the historical trough now, we would start to look for some quality names to accumulate on further weakness, including Xiaomi, AAC, Sunny Optical, BYDE and Q-tech.“20% US content rule” exemptions in “Annex III” sub-document? The US White House published a sub-document, Annex II, for the US Reciprocal Tariffs.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Technology - US Tariff Updates: Addressing FAQs After a Volatile Day

<ul><li>On 3 April, the US President announced 10% tariff on all imports, and additional reciprocal tariffs will be applied on 60 countries (34% on China, 46% on Vietnam, 26% on India, and 20% on the EU).</li><li>Overall, we believe the scale and pace of the new tariffs are larger and broader than market expected. Below we access the potential impact for component/ODM&amp;OEM/brand supply chain.</li><li>For component (SP/PC/server), we expect limited direct impact for suppliers since most do not export directly to the US. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

On 3 April, the US President announced 10% tariff on all imports, and additional reciprocal tariffs will be applied on 60 countries (34% on China, 46% on Vietnam, 26% on India, and 20% on the EU).Overall, we believe the scale and pace of the new tariffs are larger and broader than market expected. Below we access the potential impact for component/ODM&amp;OEM/brand supply chain.For component (SP/PC/server), we expect limited direct impact for suppliers since most do not export directly to the US. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Technology - Implications of US reciprocal tariffs on supply chain

China

Xiaomi is a Chinese multinational corporation specializing in consumer electronics and technology, primarily known for its smartphones (Mi, Redmi, POCO series) and a wide range of AIoT (Artificial Intelligence of Things) devices, including smart home products, wearables, and laptops. The company also provides internet services, including its MIUI operating system. Xiaomi was founded in 2010 and is headquartered in Beijing, China.

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Xiaomi (1810 HK)

CX Daily: Fatal Crash Sours Xiaomi’s EV Success

President Xi Jinping’s state visit to Vietnam. Chinese wearable tech firms explore overseas production. If you haven’t already, click here to sign...

Caixin Global

Technology - US Tariff Updates: Reciprocal Tariff Exemptions for Smartphone /PC...

The US's CBP published an updated guidance on 11 Apr to exempt 20 product categories (incl. smartphones, PCs, servers and tablets) from reciprocal...

CMB International

CX Daily: China’s Export Machine Stalls Under Trump’s New Trade Blitz

TOP STORY Tariffs / In Depth: China’s export machine stalls under Trump’s new trade blitz Chinese manufacturers are scrambling to respond after...

Caixin Global

Technology - US Tariff Updates: Addressing FAQs After a Volatile Day

Following our note last week, we received investor questions focused on 1) “20% US content rule” exemptions, 2) impact of China 34% tariff' on the...

CMB International

Technology - Implications of US reciprocal tariffs on supply chain

On 3 April, the US President announced 10% tariff on all imports, and additional reciprocal tariffs will be applied on 60 countries (34% on China,...

CMB International

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