20170105-中信-拓普集团-601689-VISIBLE_EARNINGS_GROWTH_AND_WELL_POSITIONED_IN_THE_RACE_OF_AUTOMOTIVE_ELECTRONICS.pdfVIP

Ningbo Tuopu Group (601689) Visible earnings growth and well positioned in the race of automotive electronics 15th Edition | 5th January 2017 CITIC Securities Research • Equity Research Report CHEN Junbin Chen joined CITICS Research in 2010 and was mentored by some of the best auto research analysts Chief Auto Sector Analyst in the business and was a part of CITICS Research’s Tel: 010 all conquering auto team between 2009 and 2013. Email: chenjb@ Chen has a firm grasp of the most promising segments Practicing license: S1010512070001 of the auto sector, including NEVs, intelligent driving, ride-sharing apps, etc. Editor’s note: th The 15 edition of our Essence series draws materials from Chen Junbin’s investment value analysis report on Ningbo Tuopu Group (601689), which gives an in-depth look into how the leader in NVH reduction is tapping into auto light weight materials and electronics businesses.For details, please refer to the full report or contact your CITICS client manager to request for a copy. Tuopu Group: the leading NVH product maker tapping auto light weight, electronics and other new businesses Leading NVH product maker tapping auto light weight and electronics businesses As a leader in the segment, Tuopu has clients shown in the table below. Currently, it has four core busines