Recently, the US "reciprocal tariffs" have disturbed the international market, and the global trade pattern has ushered in a new round of shocks. Faced with "reciprocal tariffs", many investors have asked questions on the investor interaction platform about the sales of relevant laser listed companies in the United States and the impact of the additional tariffs on the company's sales growth in the United States. As of April 10, more than a dozen laser listed companies have publicly responded to the impact of the US tariff policy adjustment on the company through investor interaction platforms or announcements.
Overall, most listed companies related to the laser industry chain have a low proportion of US business, and the overall impact is limited. Some companies said that in the face of the US "reciprocal tariff" challenge, they will accelerate the development of new products, further enhance product added value to enhance the bargaining power of the industry chain, flexibly respond to the risks brought about by the international environment and policy changes, and ensure the company's continued competitiveness in the global market. Some companies also stated that they are closely following the changes in relevant tariff policies and actively responding to the risks of changes.
1. Intensive response to the impact of "reciprocal tariffs"
From the response, many laser companies said that the proportion of export business to the United States is not high and is less affected.
On April 7, Jept said on the investor interaction platform that the company's direct export revenue to the United States accounted for less than 5% of the company's total operating revenue. From the current point of view, the additional tariffs have little direct impact on the company. The company will continue to pay attention to relevant policy changes.
When answering investors' questions on the interactive platform on April 8, Raycus Laser said that the company's sales business in the US market accounts for a small proportion, and it has not been affected by this round of tariffs for the time being, and the company's operations are normal.
On April 8, HGTEK also stated on the investor interaction platform that the company's business in the United States is now and in the future mainly focused on optical modules, and its operations are currently normal. The demand for optical module products in the United States is mainly produced and supplied by China and Southeast Asia, and the company's Thailand factory has been put into production. Regarding the issue of tariff burden, optical module products may be exempted or mainly borne by customers, so it has little impact on the company's profits.
On April 9, Deer Laser stated on the investor interaction platform that in 2022 and 2023, the company's operating income outside mainland China accounted for 10.95% and 9.50% of the current operating income respectively, mainly exported to Southeast Asia, South Korea, Europe and other countries and regions, and the export to the United States accounted for a very small proportion; the company's optical devices are partially imported, mainly from Europe, America, Asia and other regions, and there are many optional suppliers. At present, only the laser source of one device is produced in the United States, and other laser sources and optical devices are all from non-US regions. For laser sources produced in the United States, the supplier also has production plants in non-US regions. Overall, the tariff policy has limited impact on the company.
In addition, many listed companies related to the laser industry chain, such as Guangku Technology, Guangzhi Technology, and Jiuzhiyang, all stated that the impact on the company is small, and generally stated that the company's products currently account for a small proportion of the business involved in the US market.
On April 8, Guangku Technology stated on the interactive platform: At present, the company's direct export to the United States accounts for a relatively low proportion of revenue, and many of the company's US customers have assembly plants in Southeast Asia or China.
Guangzhi Technology said in response to investors' questions on the interactive platform on April 8 that the impact of the US tariffs on the company's business is very limited. The company will continue to pay close attention to relevant policy dynamics and actively take countermeasures.
Jiuzhiyang disclosed the impact of recent US tariff-related policies on the company on the evening of April 8, saying: In recent years, the company has only purchased a small number of components from the United States, and as the degree of domestic substitution continues to deepen, the company's import purchase amount has decreased year by year, and the impact is controllable; since 2019, the company's sales revenue has been 100% from the domestic market, and has not been exported to the United States. Based on this, the company believes that the "reciprocal tariff" executive order has limited impact on the company's business.
2. Actively respond to the challenge of "reciprocal tariffs"
Responses from several other companies show that the company has already made early arrangements in terms of diversified market layout and independent and controllable supply chain to cope with international market fluctuations.
Huagong Technology said that the company is accelerating its global operations, and the imposition of tariffs this time will not affect the company's global business strategy. At the same time, the company insists on innovation as the main axis of operation, implements "new products, new industries", and promotes the product's "global first launch, industry leading, specialized and new" positioning to enhance the company's core competitiveness.
On April 7, Everlight Huaxin stated on the investor interaction platform that as a leading enterprise in domestic substitution of laser chips, the company actively responds to the country's industrial policies and always adheres to the independent control of core technology and supply chain. As an IDM manufacturer, the company is also very advantageous in dealing with unknown geopolitical risks, and the risks are controllable. The company's overseas business currently accounts for a small proportion, and the recent US tariff policy has little impact on the company. On the contrary, China's imposition of counter-tariffs on all goods from the United States, including chips, is beneficial to the company. First, the cost of imported chips is higher, and second, the supply chain uncertainty risk brought by political risks is greater, which further increases the determination of import substitution in the domestic market.
On April 9, Juguan Technology stated on the interactive platform that the company relies on a global production and operation system and always adheres to the strategic concept of diversified market layout. The products are manufactured by production bases distributed around the world and are widely sold to China, Europe, Japan, South Korea, the Americas and other regions. Taking the publicly disclosed data in the first three quarters of 2024 as an example, the company's domestic revenue accounts for 50%, the European region accounts for 38% of the overseas market, the Asia-Pacific region (excluding China) accounts for 6%, and the Americas accounts for 6%. Among them, the revenue from products directly exported from China to the United States only accounts for about 1% of the company's total revenue. Based on this revenue structure, the direct impact of this round of US tariff adjustments on the company is limited and controllable. In addition, from the perspective of various links and processes of business operations, the trade model between the company and its customers determines that the customs declaration and the main body of the tariff are the customers. This arrangement further reduces the potential impact of tariff adjustments on the company's operating performance.
Juguang Technology said that the company will actively track the dynamic trends of international and domestic policies, conduct active and proactive communication with suppliers and customers, and actively respond to possible changes in policies.
On April 8, Liyuanheng stated on the investor interaction platform that the company's business in the United States accounts for a small proportion, and the impact of the US tariff increase on the company's business is limited. In addition, the company has established subsidiaries/branches or offices in Germany, Poland, Switzerland, the United Kingdom, Canada, South Korea, Japan, India, Indonesia and other countries, and has expanded and established R&D centers, service centers and production bases to achieve "localized production, localized delivery, and localized services", effectively reducing the impact of tariff costs. At the same time, the company has explored the growth opportunities brought by the demand for intelligent manufacturing upgrades by laying out Southeast Asia, South Asia and other regions in the rapid economic development stage.
On April 8, Lightpeak Technology responded to investors' questions and said that the company attaches great importance to the business development of overseas markets. The company's revenue from the United States in 2024 will account for only about 3%. Therefore, this round of US tariff adjustments will have little impact on the company's overall performance. At the same time, the company has invented a unique semiconductor laser light source. With the continuous optimization of the light source and the continuous expansion of application scenarios, the company has been continuously promoting the localization of devices and the research and development breakthroughs of upstream devices, creating core devices for the laser industry, and driving the innovation of downstream application scenarios with breakthroughs in core devices, especially focusing on more innovative scenarios opened up by AI technology progress, and continuously improving the company's business risk resistance. Lightpeak Technology said that at present, in response to the impact of this round of tariff policy adjustments, the company has actively responded and established a special working group, paying real-time attention to policy dynamics, and adjusting business strategies in a timely manner according to actual conditions to adapt to changes in the external environment and ensure the company's stable operation. The company will continue to promote sales in international markets outside the United States, continuously improve the diversified market layout, enhance product competitiveness and the company's risk resistance, and steadily promote the development of the company's overseas business. Faced with the challenge of "reciprocal tariffs" from the United States, most laser listed companies have stated that they will use flexible strategies to deal with the uncertainties that may be brought about by tariff policies by optimizing global layout and promoting independent and controllable supply chains. Some companies also stated that the company has resisted external risks through global layout and promotion of supply chain autonomy for many years. In the future, it will strengthen the development of new markets, pay close attention to environmental changes, and ensure the stable development of the company.
3. Force a new round of technological revolution
The sudden tariff policy, like a black swan, will inevitably push up the cost of my country's export goods. If companies choose to pass on the additional taxes and fees to commodity prices, the competitiveness of the goods in the international market will be directly weakened, which will have a significant impact on order volume and profit margins.
In this tariff storm, those companies with large revenue scale and high revenue share in the US market have undoubtedly become the heavy targets of the tariff stick.
When the tariff stick fell, some people saw the strictness of trade barriers, while others found cracks in the technological revolution.
Historical experience has repeatedly proved that any attempt to block technological progress through abnormal means will eventually be transformed into a special driving force for industrial upgrading. For the laser industry, this storm that started with tariffs may be brewing a new round of technological revolution.
Some industry analysts said that this tariff policy is both a challenge and a catalyst for the transformation and upgrading of the industry. Short-term pain is unavoidable, but in the long run, it may force technological innovation, accelerate domestic substitution, and reshape the global supply chain.