HK Stock Market Move | AUTOHOME-S(02518) rose more than 4% in early trading, related income from new energy and new retail models is expected to accelerate.

Autohome-S (02518) rose more than 4% in early trading, up 4.53% as of the time of publication, at 54.2 Hong Kong dollars. On the news front, Autohome-S had previously released its financial performance for the third quarter of 2024. The announcement showed that the company's total revenue for the third quarter was 1.77 billion RMB, with online marketing and other business income increasing by 3.1% year-on-year, with the revenue ratio continuing to rise. Revenue from new energy brands continued to grow in the third quarter, with a year-on-year increase of 54%, consistently outperforming industry sales growth rates. The company's adjusted net profit was 497 million RMB. CICC pointed out that Autohome-S's new retail space station "Satellite Plan" was fully implemented in the third quarter, with over 50 space stations and satellite franchise stores already established nationwide, and the construction of sunk channels has begun to take shape. Through close cooperation with these space stations and satellite stores, the company has built an efficient network channel, enabling resource sharing and complementary advantages. The bank expects that with the rapid expansion of new energy space stations, the company's related income from the new energy new retail model is expected to accelerate.