After the Mid-Autumn Festival, on the first trading day, the leading medical gloves company Intco Medical Technology (300677.SZ) suffered a heavy setback, and the stock price hit a 20-cent limit down during the trading session. Regarding the reason for the limit down, the securities department of Intco Medical Technology told the Financial Union Network reporter: "It's because the United States announced that it will raise the 301 tariffs on some Chinese commodities."

Trading data shows that Intco Medical Technology opened today with a significant decrease in stock price, and then hit a circuit breaker limit down, reaching a new low in nearly 5 months.

According to CCTV News, on September 13, 2024, local time in the United States, the Office of the United States Trade Representative (USTR) announced the final revision of the four-year review of the 301 tariffs on China. On the basis of continuing to impose tariffs, the tariff rates on some products will be raised, and there are plans to further expand the range of products subject to tariffs. Among them, medical gloves and other products will be significantly subject to additional tariffs.

Currently, Intco Medical Technology's core business is highly concentrated on medical protective products, especially the production and sales of gloves. According to the 2024 semi-annual report, the company's annual production capacity for disposable gloves is 79 billion. The annual production capacity for disposable nitrile gloves is 48 billion, and the annual production capacity for disposable PVC gloves is 31 billion. In recent years, the proportion of overseas income in the company's total revenue has consistently remained above 85%.

The above-mentioned securities department representative told the Financial Union Network reporter: Specifically, the proportion of the U.S. market in the company's revenue is around 35%. Therefore, the imposition of tariffs by the United States on related products will increase the export costs of certain products for the company, and may pose a short-term challenge to performance. However, there are still significant variables in the future.

In the semi-annual report, Intco Medical Technology also stated that on May 14, 2024, the White House formally announced that it will impose tariffs on Chinese goods amounting to a total of 18 billion U.S. dollars. The tariffs on medical rubber gloves will increase from 7.5% to 25% in 2026. This will have a certain impact on the company's products exported to the U.S. market. The company mainly settles transactions in U.S. dollars, and exchange rate fluctuations will affect the company's exchange gain and loss, which will have a significant impact on the company's overall business performance.

Despite facing this unfavorable situation, the above-mentioned person stated that the company will not reduce its layout in the U.S. market. It plans to further increase its efforts to expand in the North American market. "The overall space of the U.S. market is still very large, and the impact of the tariff increase this time on PVC gloves is relatively small."

The Caixin reporter noted that Intco Medical Technology has not lacked investment layout in the US market. Just at the end of August, the company announced that its wholly-owned subsidiary, Intco Medical International (Hong Kong) Limited, plans to sign a partnership agreement with MS Capital Partners VIII GP LP (a limited partnership enterprise in Delaware, USA) to participate in investment funds. The target fundraising scale of the fund is no less than $2.5 billion. The above-mentioned person said that the prospects of the investment fund are unrelated to the imposition of tariffs and will not be affected.