HK Stock Market Move | AUTOHOME-S(02518) rose more than 5% in the morning, multiple departments jointly issued a document to strengthen the automotive aftermarket, and 40 cities will pilot automotive circulation consumer reform.

Autohome-S (02518) rose more than 5% in early trading, up 5.46% as of the time of publication, at HK$35.56. On the news front, on June 23, the Ministry of Commerce and 9 other departments jointly released the "Notice on Cultivating and Strengthening Measures for the Post-Market Consumption of Automobiles", introducing 17 measures in 6 major areas such as automobile modification, RV camping, and traditional classic cars, focusing on breaking institutional restrictions, optimizing supply, and fostering new business formats. On the same day, the Ministry of Commerce and 8 other departments also announced the list of pilot cities for the reform of automobile circulation and consumption, with 40 pilot cities focusing on the automobile aftermarket, as well as new car consumption, the circulation of used cars, and the recycling of scrapped cars. It is worth noting that on June 18, Autohome and Alipay officially signed an agreement to build an ecosystem in Hangzhou. Over the past year, the two parties have achieved phased results in areas such as traffic exchange, content creation, and lead conversion. The user activity and lead acquisition capabilities of the Autohome Mini Program within the Alipay ecosystem have steadily increased. Building on this foundation, the two parties will upgrade their cooperation in the three main directions of "data infrastructure, ecosystem building, and business interconnection", jointly creating a sustainable development of a new ecosystem for automobile services.