Core Viewpoint - CFMOTO POWERSPORTS, INC. (CFP), a wholly-owned subsidiary of Chunfeng Power (603129.SH), received a notice from the U.S. Customs and Border Protection (CBP) regarding tariff adjustments on products exported from China, which may require retroactive tax payments totaling approximately $19.33 million [1][3]. Group 1: Financial Impact - As of October 23, the total amount of related bills received by CFP is $19.32 million [3]. - CFP reported a net profit of 161 million yuan in the first half of this year, with total revenue of 2.89 billion yuan [8][9]. - The total assets of CFP as of June 30 are 3.48 billion yuan, with net assets of 730 million yuan [9]. Group 2: Operational Adjustments - The tariff adjustments primarily involve historical tariff payments for products exported from the Chinese factory to the U.S., but the company has diversified its production capacity through facilities in Thailand and Mexico to mitigate cost pressures from U.S. tariffs [6][7]. - The company is considering legal actions, including appeals and lawsuits, to protect its interests against the CBP's decisions [5][6]. Group 3: Market Dynamics - The all-terrain vehicle (ATV) market is shifting from a "speed-oriented" to a "quality-oriented" focus, with UTV/SSV products gaining market share [9]. - In 2024, global sales of UTV/SSV products are projected to reach 620,000 units, accounting for 64.58% of the market [9]. - North America remains the largest market for ATVs, with an 83.85% share, driven by strong outdoor recreational demand [9]. Group 4: Strategic Responses - The company has implemented various measures to address trade and tariff policy changes, including enhancing local production capabilities in overseas bases and optimizing capacity layout [7][10]. - Chunfeng Power aims to reduce reliance on the U.S. market by expanding its business structure and exploring non-U.S. markets [7][10].

10月29日，知名摩托车生产商春风动力9.SH，股价256.89元，市值391.96亿元）公告称，其在美国设立的全资子公司CFMOTO POWERSPORTS,INC.（以 下简称"CFP"）收到美国海关和边境保护局（以下简称"CBP"）出具的《行动通知》。 春风动力官网截图 该通知要求春风动力中国工厂出口至CFP的U/Z产品（包括UTV与SSV车型）需进行归类调整，同时追溯调整并按提高后的税率进行税款的补缴。截至10 月23日，CFP已收到的相关账单累计金额为1932.87万美元。 当日，春风动力工作人员在电话中对《每日经济新闻》记者表示，相关税款补缴对CFP当前日常经营不会造成太大影响，其他具体情况以公告为准。 不排除采取申诉、上诉等措施依法维权 春风动力公告披露，本次归类调整主要涉及春风动力历史期内中国工厂出口至美国的关税补缴特殊事项，而公司已通过泰国和墨西哥工厂的产能布局有效 分散了美国关税带来的成本压力。公司不排除将采取聘请律师向美国海关和边境保护局申诉和向美国国际贸易法院提起上诉等措施依法维权。 截至9月，美国地区的销售占春风动力总收入的比重也已降至30%以内，公司表示，因此归类调整不会对公司未来 ...

Core Viewpoint - CFMOTO POWERSPORTS, INC. (CFP), a wholly-owned subsidiary of Chunfeng Power (603129.SH), received a notice from the U.S. Customs and Border Protection (CBP) requiring adjustments in tariff classifications for U/Z products exported from China, leading to a cumulative bill of $19.32 million as of October 23 [1][3]. Group 1: Financial Impact - The tax payment adjustment is not expected to significantly impact CFP's current operations [2][3]. - As of mid-2023, CFP reported a net profit of 161 million yuan and total revenue of 2.89 billion yuan for the first half of the year [5]. - The total assets of CFP were 3.478 billion yuan, with net assets of 730 million yuan as of June 30 [5]. Group 2: Market Position and Strategy - The UTV/SSV product segment has been gaining market share, with global sales projected to reach 620,000 units in 2024, accounting for 64.58% of the market [7]. - North America remains the largest market for all-terrain vehicles, with an 83.85% share, driven by strong outdoor recreational demand [7]. - The company has diversified its production capacity by establishing manufacturing bases in Thailand and Mexico to mitigate the cost pressures from U.S. tariffs [3][4]. Group 3: Risk Management and Future Outlook - The company is prepared to take legal action to protect its interests, including appealing to the U.S. International Trade Court [3]. - Chunfeng Power has implemented strategies to reduce reliance on the U.S. market, with sales from the U.S. accounting for less than 30% of total revenue as of September [3][4]. - The company is closely monitoring trade and tariff policy changes and has taken proactive measures to optimize its operational efficiency and expand into non-U.S. markets [4][7].