Sound market position in auto interior sector. Global presence and established relationship with major auto OEMs. Close relationship with HASCO and SAIC Group. Concentration on commodity-like interior products. Low debt leverage and prudent financial management. Robust operating cash flow generation and controlled capital spending. Volatility in credit metrics, driven by intense competition. The stable outlook on Yanfeng Global Automotive Interior Systems Co. Ltd. (YFAI) reflects our view that the company will maintain its solid market position and low leverage over the next 24 months. YFAI's relationship with major customers and its global footprint will continue to drive stable revenue growth, in our view. However, the commoditized nature of the company's product and intense competitive landscape will limit its profitability. We
