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.