HSBC Maintains Autohome(ATHM.US) With Buy Rating, Raises Target Price to $40
Autohome, in conjunction with Ping An Property Insurance, organizes the "China Automobile Distribution Industry Digital Marketing Development Forum".
Hong Kong, October 3, 2024 / PRNewswire / -- On September 29, 2024, the China (Tianjin) International Automobile Exhibition opened. At the same time, the "China Automobile Circulation Industry Digital Marketing Development Forum", hosted by the Automobile Industry Branch of the China Council for the Promotion of International Trade, organized by Autohome (NYSE stock code: ATHM; Hong Kong Stock Exchange code: 2518) and underwritten by Ping An Property Insurance, with special support from the National Federation of Industry and Commerce Automobile Dealers Association, was held. The forum with the theme of "New Quality Ecology, Breaking through the Full Chain" brought together representatives from the government and various sectors of the industry, with over 500 people attending. The Secretary of the Party Committee of Autohome.
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Hong Kong stocks move | Autohome-S (02518) rose more than 5%, up nearly 30% month-to-date. The company plans to repurchase shares worth as much as 0.2 billion US dollars.
Autohome-S (02518) rose by more than 5%, the stock has continued to rise this month, with a cumulative increase of nearly 30%. As of the time of writing, it rose by 5.24%, closing at 64.25 Hong Kong dollars, with a turnover of 1.4432 million Hong Kong dollars.
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[Brokerage Focus] China Securities Co., Ltd. maintains a "buy" rating for Autohome (02518) with steady growth in innovative business and ample cash reserves.
Jinwu Financial News | China Securities Co.,Ltd. released a research report, pointing out that Autohome is facing pressure in the mid-term economic situation, but its performance in innovative business is positive. Due to the decrease in sales of mainstream joint venture brands, the company's advertising revenue for the mid-term report declined. Considering the continuation of price wars among car manufacturers, it is expected that the media service segment will still be under pressure in the third quarter, and Q4 is expected to benefit from the recovery of sales. The mid-term economic situation is under pressure, but the performance of the innovative business is positive. The bank pointed out that as of the end of the second quarter of 2024, the company's total cash, cash equivalents, and short-term investments amounted to 23.47 billion RMB, and the net cash flow from operating activities in the second quarter was 0.452 billion RMB.
Autohome Inc.'s (NYSE:ATHM) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Bytedance is raising up to 0.6 billion US dollars for its subsidiary "Dongchedi".
Jinwu Financial News | According to informed sources, ByteDance is raising up to $600 million in funds for its automotive information and trading platform, "Knowcar Emperor". Informed sources said that Atlantic China Welding Consumables, Inc., Sequoia China, KKR & Co., and Gao Rong Capital are the joint investors in this round of financing; the valuation of Knowcar Emperor is close to $3 billion. ByteDance launched the plan to spin off Knowcar Emperor less than a year ago. In January of this year, it was reported that ByteDance plans to split Knowcar Emperor into an independent company, and in June of this year, it was rumored that ByteDance plans to raise $700 million to $800 million for Knowcar Emperor in preparation for the IPO of this business segment.
Overnight news: Nasdaq and S&P both fell for two consecutive days. US oil fell below $70. Biden is preparing to intervene in the acquisition of United States Steel. The Beige Book from the Federal Reserve confirms economic slowdown.
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Autohome announced a new share buyback plan: it will repurchase up to 0.2 billion US dollars in the next 12 months.
Autohome (NYSE: ATHM) announced today that its board of directors has approved a new share buyback plan, which will take effect on September 4, 2024. Under this new share buyback plan, Autohome will be able to repurchase shares worth up to $200 million, including its American Depositary Shares (ADS), within the next 12 months. Autohome will conduct the buyback through open market transactions, private negotiations, block trades, and/or other legally permitted methods, at prevailing market prices. The board of directors will regularly review the share buyback plan and may authorize adjustments to its terms and scale, or suspend or terminate the plan.
autohome-S (02518.HK) plans to repurchase up to $0.2 billion worth of shares.
On September 4th, Golonghui announced that Autohome-S (02518.HK) has announced that its board of directors has approved a new share buyback plan, which will take effect on September 4th, 2024, Beijing time. According to the new share buyback plan, the company can repurchase shares worth up to 200 million U.S. dollars (including American depositary shares) within the next 12 months. Depending on market conditions and in accordance with applicable rules and regulations, the company may propose repurchases from time to time through open market transactions, private negotiated transactions, block trades, and/or other legally permitted methods. The board of directors will conduct regular reviews.