Autohome (ATHM): Surged After We Upgraded to Hold, Now Overvalued
The 1Q19 results show that we were right to upgrade ATHM to HOLD in our last note. However, the stock surged after our upgrading; therefore, we...
512 Views
So-Young (新氧) IPO Review - Decent Upside from the Low-End
So-Young (SY US) is raising up to US$179m in its upcoming IPO. We have covered most aspects of the IPO in So-Young (新氧) Pre-IPO Review - Au...
688 Views
Autohome (ATHM): Promising Auto Loan, Waiting for Buying Opportunity
The 4Q2018 results suggest that it is a right decision to close out direct automobile sales and start auto loan. The 4Q2018 results also suggest...
529 Views
Autohome (ATHM): Commission Conflict with Dealers, as Auto Industry Suffers First Decline Since 1990
China vehicle sales volume declined in 2018, which was the first time since 1990. Car dealers are negotiating commission rate with Autohome. We...
988 Views
Autohome (ATHM): Lower Margin in 3Q18, But Fully Impacted Since Our Previous Risk Note
* "Other income" contribution to operating profits in 3Q18 was higher than that of 3Q17, without which the operating margin declined...
412 Views