HK-listed Xin Point drops on flagging impact of US tariffs
17/04/2025 04:09
** 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))