T.H. Capital - Autohome Inc. Sponsored ADR Class A (ATHM) ATHM: Higher EV Car Sales Positive For ATHM’s 4Q23 Performance Along With Improving Auto Industry

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T.H. Capital

Tian Hou

EUR 324.94 For Business Accounts Only

ATHM: Higher EV Car Sales Positive For ATHM’s 4Q23 Performance Along With Improving Auto Industry

ATHM will report 4Q23 results on February 6^th before the markets open with a 7am ET conference call. We are positive about ATHM’s 4Q23 performance. The auto market in China appears to be improving, as China's passenger car retail sales in 2023 rose 5.6% from the previous year to 21.7 million units, according to the China Passenger Car Market Information Association. That's up from 1.9% in 2022 when China was under strict Covid policies. Among that, the cumulative sales of new energy vehicles (EV) were 3 million, a Y/Y increase of 62.3%. The higher growth of EV cars is the driver for ATHM’s stable business performance.

02/02/2024 5 EN

Underlying

Autohome Inc. Sponsored ADR Class A

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US05278C1071 New York Stock Exchange United States

Provider

T.H. Capital

T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.

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Analysts

Tian Hou

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ATHM: Higher EV Car Sales Positive For ATHM’s 4Q23 Performance Along With Improving Auto Industry

ATHM: Positive On 1Q24 Performance Due To Improvement In The Auto Market, Mainly Driven By EV Car Sales; The Adoption of Trade-In Policy Is Likely to Further Boost Sales

ATHM: Neutral On 3Q23 Performance On Muted Auto Industry Data

ATHM: Positive On 1Q24 Performance Due To Improvement In The Auto Market, Mainly Driven By EV Car Sales; The Adoption of Trade-In Policy Is Likely to Further Boost Sales

BABA: Positive On Longer-Term Outlook As China’s Economy Is Showing Signs of Bottoming; Negatives Are In The Stock Price

JD: China’s Economy May Have Bottomed As The Property Market Is Starting To Show Signs Of Stabilization; JD To Benefit From the Resumption In Growth Of China’s Economy

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