越南《海关在线》8月25日报道，根据越南海关局最新数据统计，截至2025年8月15日，越南出口总额 2826.1亿美元，同比增长15%以上，其中计算机、电子产品及零部件出口额为613.2亿美元，比去年同期 增长42.6%（增加了约183亿美元），约占越南全国出口总额的21.7%，占比与去年同期相比上升了4.2个 百分点。 ...

联想集团(0992.HK)涨超5%，报11.15港元，为连续第二日上涨，股价创3月27日以来新高。 消息面上，摩根大通发表研报，预期联想集团6月底止2026财年首季业绩将优于市场预期，主因PC业务 的强劲表现。该行认为，PC业务盈利的韧性表现是由于市占率提升及灵活的供应链管理。另外，集团 的服务器(ISG)业务近期有多笔新订单，带动增长。中长期而言，进军AI服务器领域可能为该股带来重 新评级机会。考虑到PC市占率扩张，该行将26及27财年的盈利预测上调2至3%，维持"增持"评级，目标 价13港元。 此外，市场调查机构Canalys今日发布报告称，2025年第2季度全球平板电脑出货量达到3900万台，同比 增长9%、环比增长5%。苹果保持领先地位，第二季度出货量达到1410万台，同比增长2%。三星紧随其 后，出货量为670万台。排名第三至第五的华为、联想和小米，均实现了强劲的年度增长。 ...

Core Viewpoint - The article discusses the potential impact of tariffs on U.S. inventory levels and how long these inventories can buffer against rising import costs and consumer prices [1]. Group 1: U.S. Inventory Analysis - As of February, the overall inventory-to-sales ratio in the U.S. manufacturing and trade sectors is approximately 1.5 months, with manufacturers at 1.9 months, wholesalers at 1.3 months, and retailers at 1.4 months, all at relatively low percentiles since the pandemic [4][8]. - If assuming that inventories from manufacturers, wholesalers, and retailers are solely for domestic retail sales, the overall inventory could cover about 4.2 months of sales [5][9]. - The low inventory-to-sales ratios suggest limited buffering capacity against supply-demand imbalances, which could lead to upward pressure on inflation [5][9]. Group 2: Industry-Specific Inventory Insights - In the retail sector, categories such as furniture, appliances, and consumer electronics have a notably low inventory-to-sales ratio of just 1 month, placing them in the 6.5% percentile since the pandemic [13]. - Conversely, the automotive and building materials sectors have higher ratios, exceeding 2 months, indicating a more stable inventory position [13]. - In the manufacturing and wholesale sectors, categories like machinery and textiles show higher inventory-to-sales ratios, while electrical equipment remains low at around 1 month [6][14]. Group 3: PMI and Inventory Trends - The ISM manufacturing PMI inventory index fell to 50.8% in April from 53.4% in March, indicating a decrease in inventory accumulation as companies reduce stockpiling ahead of tariff implementations [17]. - The customer inventory index remains low at 46.2%, suggesting concerns about the sustainability of overall manufacturing inventory levels [17][18]. - Among 18 manufacturing sectors, 5 reported increased inventory levels in April, while 8 sectors, including textiles and transportation equipment, saw declines, reflecting a mixed inventory landscape [18].