Group 1 - The core viewpoint of the article highlights that Hongteng Precision (06088) has seen a significant stock price increase of over 14% following its interim performance report, with a cumulative increase of over 60% within the month [1] - As of the report, the stock is trading at 4.31 HKD with a transaction volume of 960 million HKD [1] - The company reported a revenue of 2.305 billion USD for the first half of the year, representing a year-on-year increase of 11.53%, while the profit attributable to shareholders was 31.511 million USD, a decrease of 3.11% [1] Group 2 - The performance of various business segments showed a decline in smartphone revenue by 12.1%, while cloud network infrastructure revenue increased by 35.7%, computer and consumer electronics revenue rose by 14.3%, electric vehicle revenue surged by 102.3%, and system terminal product revenue decreased by 12.4% [1] - Notably, a statement from Trump indicated that Apple has committed to increasing its investment in the U.S. to 600 billion USD over the next four years, which will result in tariff exemptions for its products [1] - According to Zhaoshang International, this exemption policy is expected to positively impact companies related to smartphones, iPads, TWS, servers, and AI servers, with a particular benefit for companies like Hongteng Precision that have a high sales proportion in Apple, Samsung, and AI servers [1]

Core Viewpoint - The recent announcement by U.S. Customs regarding the extension of the "in-transit goods" tariff exemption policy indicates a shift in U.S. trade policy, providing temporary relief for cross-border e-commerce while increasing compliance challenges for businesses [1][4]. Policy Updates - Extension of In-Transit Exemption Deadline: The deadline for the "in-transit goods tariff exemption" has been extended from May 28 to June 16, 2025, allowing goods shipped before April 5, 9, or 10, 2025, to qualify for tariff exemptions if they complete entry declaration by June 16 [4]. - Tariff Adjustments for Specific Country Goods: Goods from China shipped between April 9 and 10, 2025, will incur an additional 10% tariff instead of the original country-specific tax rate, requiring the use of HTS code 9903.01.25 for declaration [4][5]. - Prevention of Abuse of Exemption Policy: U.S. Customs has clarified that only goods shipped within the specified timeframe and completing entry declaration are eligible for the exemption, aiming to prevent misuse of the "in-transit" exemption [4]. Industry Implications - Temporary Relief for Businesses: The policy extension provides businesses, especially those affected by logistics delays, with additional time to complete customs procedures, potentially reducing tariff risks associated with tight deadlines [5]. - Increased Cost Pressure: Despite the easing of some tariffs, the additional 10% tariff on certain Chinese goods may still impose significant cost pressures on businesses, prompting them to reconsider pricing strategies [6]. - Compliance Challenges: New customs declaration requirements increase compliance burdens for businesses, necessitating accurate use of HTS codes to avoid delays or penalties, highlighting the importance of precise reporting [6].

Core Viewpoint - The U.S. President Trump has indicated uncertainty regarding the tariff exemption policies and plans to review the exemption policy [1] Group 1 - The review of the exemption policy may impact various industries that rely on tariff exemptions for imported goods [1] - Companies that benefit from current tariff exemptions could face increased costs if the policy is altered [1]