T.H. Capital - Autohome Inc. Sponsored ADR Class A (ATHM) ATHM: Expect 4Q18 Revenue Better Than Consensus; However, Weak Seasonality Is Likely To Be Weaker In 1Q19

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T.H. Capital

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ATHM: Expect 4Q18 Revenue Better Than Consensus; However, Weak Seasonality Is Likely To Be Weaker In 1Q19

ATHM will report 4Q18 results on February 26th before the markets open with a 7am EST conference call. Based on our data and calculations, we believe Autohome’s 4Q18 revenue is likely to be better than consensus and our estimate at RMB2,122M driven by the marketing and lead generation businesses. However, also based on our data, we do believe weak seasonality in 1Q19 is likely to be weaker than before due to the macro slow down; and ATHM is likely to experience the same weaker situation.

20/02/2019 6 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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ATHM: Expect 4Q18 Revenue Better Than Consensus; However, Weak Seasonality Is Likely To Be Weaker In 1Q19

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

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

BZ: Positive On 1Q24 Performance, Supported By Listings Growth In Service, Commodity Manufacturing & Other Sectors

PDD: Positive On 1Q24 Performance Driven By Rapid Growth From Temu

BIDU: Positive On Long-Term Outlook; Monetization In AI To Drive Future Growth

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