HASCO (600741.CH) Business Integration and Upgrading Keep Going Ahead February 19, 2019

PSR Recommendation: ACCUMULATEStatus: DowngradedTarget Price: CNYCNY23

Investment Summary
HASCO is the pioneer of China`s auto component industry. We believe that to attract
customers, auto manufacturers will tend to apply more high-end and high-technology auto
parts and components in their automobiles. This trend will certainly benefit top-tier auto
parts manufacturers such as HASCO. The company also actively grasps the trend of electric
vehicle, network connection, intelligence and sharing of the automotive industry. We
reaffirm “accumulate” rating.

About the author

Profile photo of Zhang Jing

Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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