ATHM will report 1Q24 results on May 8th before the markets open with an 8 am ET conference call. We are positive about ATHM’s 1Q24 performance. The auto market in China continues to improve driven by EV sales. The market share of EV cars has already reached 31.1% in China. With aggressive competition in the EV area, ATHM has become one of the most wanted platforms for market and customer acquisition. As China is adopting auto trade-in measures, we believe auto sales is likely to go up further t...
ATHM will report 4Q23 results on February 6th 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...
ATHM will release 3Q23 earnings on November 2nd with a conference call at 8am ET. We are neutral on ATHM’s 3Q23 performance. The auto market in China appears to be stable, as the launch of new vehicle brands decreased 11.3% Y/Y in 3Q23, vs. increase of 33.1% in 2Q23. The slower than expected economic recovery has not been able to boost people’s confidence in their economic future. However, economic recovery is the government’s top priority; therefore, we believe the auto market as well as ATHM a...
We are positive on ATHM’s 3Q22 performance. The auto market in China is steadily showing improvement, as the launch of new vehicle brands increased 10.8% Y/Y in September, recovering from 2Q22. Under the various stimulus policies and improving COVID situation, China’s auto production reached 37.5% Y/Y in September 2022, up from 1.9% Y/Y in 2Q22.
The independent financial analyst theScreener just awarded an improved star rating to AUTOHOME INC (US), active in the Publishing industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date January 18, 2022, the closing price...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Autohome plans to raise around US$1bn in its secondary listing in Hong Kong. The company is said to have filed confidentially in Jan 2021 and won approval from HKEX last week. Including Baba, so far ten companies have undertaken a secondary listing in Hong Kong, raising a total of US$28bn with a range of US$0.5-11.4bn. Along with covering all of the past listings, we have also looked at the drivers for the secondary listings in our earlier notes, links to which are below: China ADRs Secondary...
ATHM will report 4Q20 earnings on February 2nd before the markets open with a 6:30am EST conference call. We are positive on ATHM’s 4Q20 earnings as well the 1Q21 outlook, as the underlying auto industry is still in a recovering trend.
ATHM will report 2Q20 earnings on August 25th before the markets open with an 8am EST conference call. We are positive on ATHM’s 2Q20 earnings. Based on our data and calculations, we believe ATHM’s 2Q20 revenue is likely to be better than consensus at RMB2,279M. China’s auto market showed Y/Y growth in 2Q20. Due to the outbreak of COVID-19 in China, monthly car production and wholesale sales went down sharply in February 2020 but have recovered since March 2020.
Hong Kong, China Begin To Participate We remain bullish and believe the path of least resistance is higher for global equities in the coming weeks and months. Where it gets difficult is in predicting near-term expectations due to the current overbought conditions based on indicators such as RSI and the percentage of MSCI ACWI stocks above their 50-day MAs. At this stage it is tough to get too excited for additional and significant near-term appreciation because of short-term overbought conditio...
ATHM will release its 4Q19 results on February 19th before the markets open with a 7am EST conference call. As there is rapid development in China, the impact to ATHM’s 1Q20 is clearer than before. Therefore, we are making downward adjustment to ATHM’s 1Q20 as well as 2020. The company’s 1Q20 revenue is likely to be down 3% Y/Y vs. growth of 6% Y/Y in our prior note; non-GAAP net margin is likely to be down about 3 percentage points compared with 1Q19, vs. flat Y/Y previously.
Just when the market was excited about the potential recovery in China’s economy in 2020 at the beginning of the year, the coronavirus outbreak hit China and manufacturers were negatively impacted. Car sales were down in January and are likely to be worse in February, March and into 2Q20. Several OEMs released their depressing January sales data. Even though we expect ATHM’s 4Q19 revenue to be in line with consensus and margins are likely to be better as the company’s spending may be lower than ...
ATHM will report 3Q19 results on November 5th before the markets open with a 7am EST conference call. It is not an easy environment in 2H2019, as the auto market in China has continued its downward trend, worse than expected. As one of the leading online lead generation platforms for auto sales, ATHM is coping with the weak market and it spent additional marketing dollars to help dealers as well as OEMs to get rid of inventories and to promote the sales of new cars.
ATHM will report 2Q19 results on August 7th before the markets open with an 8am EST conference call. ATHM’s fundamentals are likely to be impacted by the weaker consumer spending in the auto sector as well as the new National Emission Standard (Guo 6). The number of paying dealers did not bounce back in 2Q19 like it used to in previous years.
ATHM will report 1Q19 results on May 8th before the markets open with an 8am EST conference call. Based on our data and calculations, we believe Autohome’s 1Q19 revenue is likely to be better than consensus at RMB1,580M and our estimate at RMB1,571M. China’s auto market in 1Q19 was indeed weak with ~15 Y/Y decline in auto sales. However, under this kind of weak market, the demand for leads is high, and Autohome benefits from such demand with its big data and data driven lead operation.
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.
ATHM will report 3Q18 results on November 12th before the markets open with an 8am EST conference call. Based on our data and calculations, we believe Autohome’s 3Q18 revenue is likely to be better than consensus and our revenue estimate driven by both the marketing and lead generation businesses.
MSCI ACWI hitting multi-month highs, U.S. remains leadership Note: This week's report is presented in an abbreviated format, as we are publishing the June International Macro Vision book this week (available next Tues. AM). Over the past several weeks we have outlined the case for our increasingly bullish outlook, noting that market internals remain favorable and S&P 500 and MSCI ACWI price trends are showing evidence of early-stage uptrend formations. In today's report we provide an overview o...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.