The main views of open source securities are as follows:

1.Leading supplier of turbocharger core components, entering the new energy track has

apromising prospect.

The company ploughed deeply in the field of turbocharging, in recent years through epitaxial

mergers and acquisitions into the new energy car track, open the company's second growth

curve. With the increasing penetration rate of turbocharger industry and the gradual implementation

of new energy vehicle function parts production capacity, the company's revenue is expected to

usher in rapid growth.

2. In the field of deep plow turbo parts, the performance maintained stable growth.

The company is deeply engaged in the field of turbocharger parts processing, the main products

include impeller, middle shell, precision bearing parts, compressor shell and so on. Automobile

turbocharger parts for processing materials, machining precision and stable quality has a higher

request, only a few in equipment, process and production organization and so on have advantage

of enterprise production, the company based on many years design experience in the field of jig,

fixture and precision machining business complement each other, form a coordinated development,

the relationship between Casting company's unique competitive advantage.

The company introduces the world's leading processing, testing equipment, automatic upgrading

of the production line, product accuracy and production capacity in the leading level at home and

abroad, customer coverage of the global turbocharger market top five manufacturers.

3. Extension mergers and acquisitions are carried out in an orderly manner, opening up growth

space for new energy businesses.

With the improvement of the electrification rate of the domestic automobile market, the company

actively explores the layout of new energy vehicle-related businesses, and enters the fields of

hydrogen fuel cells and lightweight structural parts of new energy vehicles. The company

independently developed the key components of fuel cell vehicles, which were successfully

delivered to customer Garrett in 2018 and applied to the production and manufacturing of Honda

Clarity new energy vehicles in Japan. After that, the company successively entered the supply

system of hydrogen fuel cell spare parts of Bosch China and Heidewell. In 2020, the company

acquired Suzhou Hebess, a company specializing in zinc, aluminum, magnesium, copper and other

hardware parts, entered into tesla's supply system, and distributed lightweight products of new

energy vehicles through its holding subsidiary Yitong Lightweight Technology Co., LTD.