证券研究报告 公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 依依股份(001206) 投资评级 无评级 上次评级 [Table_Author] 姜文镪 新消费行业首席分析师 执业编号：S1500524120004 邮箱：jiangwenqiang@cindasc.com 李晨 新消费行业分析师 执业编号：S1500525060001 邮箱：lichen@cindasc.com [Table_OtherReport] 依依股份：增发收购品牌，搭建第二 成长曲线 依依股份：优质客户稳健增长，H2 改 善可期 依依股份：Q1 经营稳健，关税短期扰 动，长期发展无虞 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 [Table_Title] 依依股份：经营拐点显现，外延深化品牌布局 [Table_ReportDate] 2025 年 10 月 27 日 [Table_S 事件：公司发布 ummary]2025 年三季报。2025Q1-3 公司实现收入 13.06 亿元 ...

Core Viewpoint - The company has the capability for full delivery of its overseas production capacity, specifically regarding its Thailand factory's output of optical modules for export to the United States [1] Group 1 - The company was asked about potential tariffs on its optical modules exported from Thailand to the U.S., specifically a 19% tax and a possible additional 40% tariff on transshipment goods [1] - The company confirmed that its overseas production capacity is fully capable of delivery [1] - The inquiry included questions about the timeline for the Thailand factory to reach full production capacity and the annual output once fully operational, as well as the proportion of Thailand's production capacity in the company's total capacity [1]