Continuing market share gains amid recovering China auto market - 6279 TT; BUY
​We expect Hu Lane to see stronger growth in 2016F due not only to better China auto sales but also the continuous market share gains supported by its price advantage and the Chinese government’s localization requirement. New fuse box product orders emphasize our view that Hu Lane continues to gain market share supported by its price advantage and China’s localization requirement. With stronger earnings growth in 2016F, we think the current valuation is attractive.
Hu Lane Associate and its subsidiaries are engaged in the manufacture and sales of automobile electronic products and components, terminal devices, terminal crimping, industrial rubber and plastic products.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
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