Investor Service

Frequently Asked Questions


1. When did HASCO complete the assets restructuring of the former Shanghai Bus?


According to the document from China Securities Regulatory Commission entitled "Reply Concerning Approval of the Major Assets Restructuring of Shanghai Bus Industrial (Group) and Its Issuance of Shares to SAIC Group for the Latter to Acquire Assests" (CSRC Approval [2009] No. 210), Shanghai Jiu Shi Company, Shanghai Transportation Investment (Group) Co., Ltd. and Shenergy (Group) Co., Ltd. shall transfer gratis to SAIC Group all their shares except the ones they hold in China Minsheng Banking Corporation, Ltd. and the Industrial Securities Co., Ltd.(held by parent company). At the same time, the former Shanghai Bus Industrial (Group) shall issue shares to SAIC Group for the latter to acquire the assets and liabilities in connection with the independent auto parts supply business.


By the end of March 2009, the assets delivery of the major assets restructuring in question had been substantively completed. On July 2009, HASCO issued the Report on Implementation of the Major Assets Restructuring, which marked the completion of the above-mentioned major assets restructuring.


2.     Who is the controlling shareholder and the actual controller?


The present controlling shareholder is Shanghai Automotive Industry Corporation (Group), and the actual controller is Shanghai State-owned Assets Supervision and Administration Commission (SSASAC).


The skeleton diagram of the relationship of equity and control between HASCO and actual controller is as follows.




3.  What is the future development strategy of HASCO?


HASCO will act in accordance with the Scientific Outlook on Development, seize the opportunity of the global auto industry development and the rapid development of China's auto industry, take as its strategic objective the guideline of becoming "zero level, neutral and global", deepen the strategic cooperation with OEM vehicle makers, accelerate the structural adjustment of parts and components, focus on core businesses, enhance the competitive force, create products of self-owned brand and build HASCO into a listed automotive parts corporation that has the strongest comprehensive capabilities in China with international influence and competence for sustainable business growth.