Chinese companies affected by the Sino-U.S. trade war
Sept 12 (Reuters) - Since March, the United States has levied taxes on Chinese imports of aluminium and steel, and the world's two
largest economies have applied tariffs to $50 billion of each other's goods.
New duties on $200 billion of Chinese imports will start to hit consumer products directly, including furniture, lighting products,
tyres, bicycles and car seats for babies.
Below are some companies whose businesses have or will be affected by U.S. tariffs, based on their first-half earnings reports.
Company Sector Trade war impact Strategies
Yinbang Clad Metal Export volume to the U.S. slumped 20 pct in Vigorously expand domestic market as well as
Material Co Ltd first half; Domestic demand also affected export markets outside the U.S. including India,
by trade frictions Southeast Asia, Europe and Middle East
ZTE Corp Telecommunications Swung to a loss of 8.4 billion yuan in H1 Improve compliance, buy export insurance
due to U.S. sanctions and fines
Dongguan Mentech Telecommunications Says Sino-U.S. trade frictions brings To strengthen investment in R&D
Optical & Magnetic challenges to China's telecommunication
Co industry, weakens demand
Kennede Electronics Electronics Suffered currency loss of 8.5 million yuan in H1 due to yuan volatility triggered by the trade
MFG Co Ltd war
Jiangpu Tongrun Equipment making Products included in the U.S. tariff list; To develop new products and new markets
Equipment says trade friction brings uncertainty to
Technology Co third-quarter results
Zhongji Innolight Equipment making Says company's overseas sales vulnerable to trade frictions
Zhejiang Electronics Says escalating trade war could affect production and operation, disrupt supply chain
Sinotrans Air Transport says escalating trade war could affect its logistics business in H2.
NAVINFO Co Electronics Says in face of Sino-U.S. trade frictions, will
strengthen business ties with other regions such
as Europe and Israel.
Jiangsu Nanfang Machinery equipment says future exports to U.S. will be To consider market substitute strategies
Bearing Co affected by tariffs
Shandong Nanshan Metal Exports affected by trade frictions To expand sales in other overseas markets, such
Aluminium Co Ltd as Europe, Japan and Southeast Asia
Hangzhou Greatstar Equipment making Has been actively looking for manufacturing bases
Industrial Co outside China. It is moving some production to
the U.S., and in June agreed to acquire a
Shandong Linglong Tyre making Plans to invest roughly $1 billion in Serbia as
Tyre Co Ltd part of its globalization strategy. It will also
build manufacturing bases in Europe and the U.S.
China Jushi Co Ltd chemicals Products included in U.S. tariff list To accelerate globalization strategy
Kingclean Electric Home Appliances says overseas sales, which account for 64 Says considering opening factories overseas
Co pct of total revenue, is vulnerable to
(Reporting by Samuel Shen and John Ruwitch; Editing by Alex Richardson) 2018-09-12 11:21:43
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