ELECTRONICS manufacturer Valuetronics Holdings reported a 3.1 per cent drop in net profit to HK$48.1 million for its first quarter ended June 30, from HK$49.7 million for the year-ago period.
Almost half of the group’s revenue came from shipments to the US during its first quarter, and around half of its US shipments from China were subject to the 25 per cent tariff imposed on its customers in the US. “Such escalated trade tensions had resulted in more and more customers deploying diversified procurement strategies, such as adopting and/or evaluating options of assembling their products outside of China,” Valuetronics said on Wednesday.
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