Hong Kong IPO disclosure precedents · 62 companies, 63 items
Disclosures where US tariffs or other trade-policy measures (including proposed restrictions) exist but the issuer's direct export revenue is small, the impact is immaterial, or the exposure is only indirect via customers.
We source significant quantity of advanced semiconductors from third party suppliers for our AI products, especially our AI chips.
Business · p. 232
We observed that certain trade restrictions and geopolitical tensions in the recent years had limited impact on our business operation as our business operations are not subject to US trade restrictions and we did not experience any material supply shortage or suspension due to trade restrictions.
Business · p. 232
Going forward, we plan to further diversify our supplier base, and we do not foresee any significant challenges in sourcing semiconductors used in our AI products.
In early 2025, the U.S. government issued multiple executive orders implementing additional tariff on imports from various jurisdictions, including additional tariff amounting to an aggregate of 145% on imports from the PRC that took effect on April 10, 2025, and the repeal of duty-free treatment under the U.S. Tariff Act of 1930 for products imported from the PRC to the U.S. with the aggregated fair retail value under US$800 per person per day (the "De Minimis Exemption") which took effect from May 2, 2025.
Summary · p. 23
For each year of the Track Record Period, our revenue generated from exports to the U.S. accounted for 3.2%, 1.8% and 2.3% of our total revenue, respectively, and our gross profit generated from exports to the U.S. accounted for 1.1%, 0.8% and 1.3% of our total gross profit, respectively.
Summary · p. 23
We have not considered the U.S. market as our primary focus and we do not expect the changes in U.S. tariff regulations would result in a material adverse effect on our business and financial conditions.
During the Track Record Period, a number of our products exported to the United States, mainly under Smart Home Solutions and Intelligent Building Technology, were subject to tariffs imposed by the U.S. government, ranging from 2.0% to 25.0%.
Business · p. 238
In 2023 and the four months ended 30 April 2024, our products exported from mainland China to the United States that were subject to U.S. tariffs contributed to less than 6% of our total revenue.
Business · p. 238
Overall, the U.S. export control measures currently in place have no material impact on our business and financial performance.