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.
Kelly Holdings aims to raise around US$200m via selling its 3.8% stake in Persol Holdings. Kelly Holdings posted 4Q21 and full-year FY21 results on 14th February 2022. In its earnings announcement, the firm mentioned that it was looking to end its cross-shareholding with Persol Holdings. The two firms share a JV in PersolKelly. In this note, we will run the deal through our ECM framework and comment on other deal dynamics.
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...
PERSOL HOLDINGS (JP), a company active in the Business Training & Employment Agencies industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date December 10, 2021, the closing price was...
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.
The general evaluation of SINA (US), a company active in the Internet industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date December 15, 2020, the closing price was USD 43.15 and its potential was...
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.
Summary Marketline's Naver Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Naver Corporation since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic a...
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 ...
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