HK Stock Market Move | Autohome (02518) rose more than 5%, with strong performance in the new retail business in the second quarter. The goal is to add 500 new stores by the end of the year.

Car Home (02518) rose more than 5%, as of the time of publication, it rose by 5.39% to HK$53.8, with a turnover of HK$40.263 million. In terms of news, recently, Car Home released its second quarter results. Car Home CFO Zeng Yan stated, "Through the upgrade of content matrix and innovative initiatives, the company continues to consolidate the content ecosystem advantage of Car Home and achieve steady user growth. QuestMobile data shows that in June, the average daily mobile users of Car Home increased by 11.5% year-on-year, reaching 75.74 million. Particularly noteworthy is that in the second quarter, online marketing and other business revenue increased by 20.5% year-on-year, with the strong performance of new retail business becoming the core drive, effectively driving the rapid increase in revenue of new energy business." CICC Leonteq pointed out that Car Home's total revenue for the second quarter of this year was RMB 1.76 billion, higher than the bank's expectations by 1%. However, media service revenue was lower than expected but offset by strong growth in online market. The group's interim dividend date is still uncertain, management has assured the market that the annual dividend of RMB 1.5 billion will remain unchanged, which implies a dividend yield of approximately 6%. The report also stated that as the price war between car manufacturers gradually eases, the bank expects media service revenue to resume growth in the third quarter. Car Home's goal is to add 500 new stores by the end of the year, requiring more cost input.