Changes in Hong Kong stocks | Home appliance stocks fall again, US tariff policy affects domestic home appliance business limited agency says home appliance export advantage still exists

The Zhitong Finance App learned that home appliance stocks fell again. As of press release, JS Global Life (01691) fell 11.76% to HK$1.65; Hisense Home Appliances (00921) fell 8.82% to HK$21.7; Haier Smart Home (06690) fell 8.95% to HK$20.85; Skyworth Group (00751) fell 4.44% to HK$2.8.

According to the news, on April 2, local time, US President Trump signed an executive order on so-called “equal tariffs” at the White House, announcing that the US will impose a 10% “minimum benchmark tariff” on trading partners and impose higher tariffs on certain trading partners. After US President Trump announced the new tariff policy, home appliance exporters had mixed reactions. Some large home appliance companies claimed that the impact of this tariff change was neutral because it did not affect the relative competitiveness of Chinese companies. On the evening of April 6, a number of Shanghai-listed companies, including those from the fields of home appliances and power equipment, made positive statements. The impact of the US tariff policy on their operations was limited, and some companies saw this as a strategic opportunity to expand into emerging markets.

The Fangzheng Securities Research Report pointed out that under the impact of Trump's tariff policy, the downward pressure on the export side has increased, but in the medium to long term, the global competitive advantage of the export chain continues. Against the backdrop of diversification of export destinations and continuous improvement in industrial competitiveness, domestic exports are still resilient. Wang Juan, a senior analyst at Industry Online, believes that due to the deterioration of the multilateral economic and trade environment, it is expected that exports of Chinese home appliance companies to the US will enter a volatile range in 2025, and some overseas manufacturing plants will also be affected to a certain extent. In the future, Chinese enterprises will maintain the advantages of domestic technological iteration and intelligent manufacturing, lay out medium- and low-end asset-light assembly plants globally, and acquire high-quality overseas brand assets, which may be the core gripper for breaking through trade barriers.