Samsonite (01910) fell nearly 5%, declining 4.76% to HK$17.81 by the time of writing, with a turnover of HK$37.11 million. A UBS research report noted that it has received numerous investor inquiries recently regarding the underlying reasons for Samsonite's weak share price performance, which has dropped 6% since the company announced progress on its US dual listing in mid-February. According to feedback from investors gathered by UBS, the share price weakness may be attributed to concerns over a potential discount of up to 15% on the issuance price and related share dilution. Investors believe these worries have overshadowed the potential for valuation revaluation that could align Samsonite with global peers following its US listing. However, UBS pointed out that in recent earnings reports from global airlines, online travel agencies, hotels, and luxury goods companies, relatively positive indications have been observed. The performance of these companies may serve as an indicator for Samsonite's revenue trends. Over the past seven quarters, Samsonite's revenue trends have shown a high correlation with those of LVMH. Additionally, UBS expects that the recent US Supreme Court ruling on the legality of US tariffs and subsequent tariff adjustments should effectively reduce the tariff rate faced by Samsonite by a low to mid-single-digit percentage over the next five months. It is anticipated that Samsonite's US wholesale customers may use this window to replenish inventory amid strong travel demand, thereby driving a recovery in the company's revenue in the US market.