Airtac International Group

1590: XTAI (TWN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	TWD 117.00	Fbvjhqk	Qvblbjkqpk

AirTAC: Transfer Coverage With Narrow Moat Rating; TWD 960 Fair Value Estimate Unchanged

Cheng Wang

May 10, 2024

Business Strategy and Outlook

AirTAC is the second-largest pneumatic components maker in China, with 27% market share in 2023. We think the firm’s leadership position is underpinned by its reputable brand, established track record, comprehensive sales and service network, and strong operating efficiency.

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