HK Stock Market Move | TUHU-W(09690) surged over 4% and launched multiple new products at the Shanghai Import Expo, recently included in the MSCI China Index.

TUHU-W (09690) rose more than 4%, as of press time, up 4.17% to HKD 23.75 with a trading volume of HKD 41.727 million. On the news front, on November 5, the 7th China International Import Expo opened in Shanghai. Tuhu Car Care, together with four globally renowned automotive service brands: Saudi Aramco's Share, TotalEnergies, Champion under Durewei, and Dunlop under Sumitomo Rubber, made a joint appearance. As the only automotive aftermarket service platform at the Import Expo, Tuhu Car Care will set up 5 brand days with different themes, focusing on "new products, new trends, new services", deeply showcasing its strategic cooperation with major international automotive service brands, and launching a series of eye-catching products and service upgrades to accelerate the development of new productive forces in the automotive aftermarket market. Of note, on the morning of November 7, global index provider MSCI announced the results of its quarterly review of the MSCI series indices, with TUHU-W being included in the MSCI China Index, with related adjustments to take effect after the close of trading on November 25. Goldman Sachs previously released a research report pointing out that Tuhu not only has a place in the Chinese internet sector, but also leads the vertical industry of automotive aftermarket; Tuhu's digital solutions drive a scalable business model, promoting efficient operations and standardized expansion; the profit potential under a light asset model is evident, with both industry penetration rate and profit margin having potential for expansion.