Core Viewpoint - The company assesses that the impact of the recent U.S. tariff policy adjustments on its operations is manageable, with limited effects on overall revenue and a stable demand for its resin eyewear lenses in the U.S. market [1][3][4]. Group 1: Impact of U.S. Tariff Policy - The sensitivity of end prices in the U.S. market is low, resulting in minimal actual impact on the company's products [1]. - The company estimates that if it bears 50% of the new tariffs (17%), the direct impact on annual revenue would be approximately 2.2% based on last year's revenue contribution from the U.S. market (13%) [3]. - The overall impact of the U.S. tariff policy on total revenue is expected to be less than 2.2% due to strong growth in markets outside the U.S. [4]. Group 2: Supply Chain and Production Capacity - The global supply chain for resin eyewear lenses is stable, with limited alternatives available for U.S. customers in the short term [2]. - The company has mature production capacities in China and Japan, ensuring stable supply capabilities to meet customer demand [2]. - The company is optimizing its cost structure through a coordinated layout of global production capacities, enhancing supply chain resilience and cost efficiency [5]. Group 3: Business Performance and Outlook - In the first quarter of the 2025 fiscal year, the company maintained a high level of revenue, with customer order quantities meeting expectations [6]. - The company continues to enhance its risk resilience through diversified layouts and technological upgrades, while closely monitoring policy developments [6].
康耐特光学(02276)：美国关税政策造成的影响可控，对公司整体收入冲击有限