: Autohome führende Autoverkaufsseite in China
Autohome Inc. (NYSE: ATHM) closed for USD 30.07 on the first day of its trading, 76.88% higher than IPO price of USD 17. On December 11, 2013, Autohome get listed on the New York Stock Exchange, opening for USD 30.16, 77.4% higher than IPO price. Calculating by opening price and its share capital, market cap of Autohome reached USD 3.17 billion. http://quotes.freerealtime.com/dl/frt/N?NewsStory=1 Autohome claims to be "the leading online destination for automobile customers in China" through their two websites, autohome.com.cn and che168.com.
behauptet, er habe nix finden können zur wirtschaftlichen Situation, ist ja lachhaft s.o.
"Autohome Inc. operates as an online destination for automobile consumers in the People's Republic of China. The company, through its Websites, autohome.com.cn and che168.com, delivers comprehensive, independent, and interactive content to automobile buyers and owners, including professionally produced content that comprises automobile-related articles and reviews, pricing trends in various markets, and photos and video clips; automobile library, which includes a range of specifications covering performance levels, dimensions, powertrains, vehicle bodies, interiors, safety, entertainment systems, and other unique features, as well as manufacturers' suggested retail prices; new and used automobile listings, and promotional information; and user forums and user generated content. Autohome Inc. also offers advertising services for automakers and dealers; dealer subscription services that allow dealers to market their inventory and services through its Websites; used automobile listings services, which allow used automobile dealers and individuals to market their automobiles for sale on its Websites; ......
Less than a day after Australia's Telstra Corp. said it would sell a 47.7% stake in Chinese online car retailer Autohome Inc., a consortium including Autohome's chief executive announced a bid for the whole company.
Autohome CEO James Zhi Qin, Boyu Capital, Hillhouse Capital and Sequoia China are offering $31.50 a share for the company, which would value it at about $3.56 billion. The offer is a 4.4% premium to Thursday's closing price. Autohome is listed on the Nasdaq and based in Beijing.
Telecom and technology company Telstra said earlier Friday that it agreed to sell a 47.7% stake to Ping An Insurance Group for $1.6 billion, and would retain a 6.5% interest. That sale is worth $29.55 a share.
Autohome shares closed at $30.16 on Thursday, closing up 6.6% Friday and falling 59 cents in late trading to $31.56.
In February, Autohome said fourth-quarter adjusted net income rose 20%, as revenue rose 46% to 1.08 billion Chinese yuan, equal to about $167 million at the time. Revenue exceed the company's guidance as it posted strong increases in mobile traffic and dealer subscriptions.
Social networking company Renren Inc. and dating-app maker Momo Inc. are among the Nasdaq-listed Chinese companies that have received buyout offers led by executives. Bankers say many of these companies intend to go public again in China.
The drive back home for New York-listed Chinese companies continues as we head into the new week, with online car site Autohome becoming the latest to announce a privatization plan. In a slightly unusual twist to that story, Autohome shares actually rose above the offer price before the buyout deal was announced, suggesting investors were hoping for a bigger premium than the one offered. But they quickly fell back to the offer price in after-hours trading.... it will pay $31.50 per American Depositary Share (NYSE:ADS) in its bid to privatize ...
Autohome (ATHM), a Chinese automobile website, is the latest U.S.-listed Chinese company that seems to be going home.
But this deal is more curious than others because it is messy, it may well turn into a bidding war, and it involves big names such as China?s Ping An Insurance (2318.Hong Kong) and Australia?s Telstra (TLS.Australia).
Autohome?s CEO wants control, while its controlling shareholder that doesn?t understand China?s fast-moving Internet space wants to get out. CEO James Qin has only 3% of the voting rights and Australian telco Telstra has 54% of the company. In an interview with the CEO in August 2014 (this blogger flipped through her old notes), my first question was Tesltra?s role in the company?s daily management and when it planned to cash out.
On April 16, Autohome announced it had received a non-binding management-led buyout offer for $31.50 a share, or $1.6 billion in total, from a consortium including James Qin, Boyu Capital, Sequoia China and Hillhouse Capital. Curiously, the offer was made right after Teltra entered into an agreement to unload a 47.7% stake in Autohome to Ping An Insurance at $29.55 a share. If Telstra?s sale to Ping An goes through, the Chinese insurance company would become Autohome?s largest shareholder. Currently, 39% of Autohome?s shares are free float.
Corporate actions in China are rarely this messy. Are China?s most prominent private equity groups going to start a public bidding war with Ping An Insurance on U.S. soil, or did Ping An act preemptively?
The timing is just so odd.
The $31.50 buyout offer is by no means generous. Autohome closed at $30.16 on Thursday, so the offer represented only a 4.4% takeout premium. Autohome?s earnings more than doubled since it went public at $17 a share in December 2013, but its total returns have not. In particular, retail investors who bought on Autohome?s debut trading day would receive only 4.7% in total returns if this deal goes through.
It is not hard to see why Ping An may want Autohome. The insurance group has a sizable auto insurance and financing business and shut down its own Internet auto business recently. Autohome?s competitor BitAuto (BITA), as well as e-commerce giant Alibaba (BABA), are rumored to be interested in buying stakes in Autohome.
So will Ping An make a better counter-offer? It seems to be calling the shots now with a 47.7% stake.
Australia?s Telstra is now looking stupid in this deal having sold its large stake for cheap less than 12 hours before the better buyout offer. Will Telstra pull out? Interestingly, it still needs Autohome?s board approval to sell its stake to Ping An, and it controls 5 out of the 10 seats. Maybe Telstra can block Telstra?
Minority investors are certainly expecting a better counter-offer. Autohome closed at $31.49 on Monday, a shade shy of the management buyout group?s $31.50.
?The buyer group offered only 4% premium over the last price before the announcement day, below the avg. premium of 18% of the past 18 going-private offers in the internet sector. The offer price implies16x non-GAAP 2016EPE on core business (11x excluding cash), which we see as undervalued given the solid growth ofthe core business,? noted Bank of America Merrill Lynch.
We often hear U.S.-listed Chinese companies complain that their valuations are too low and that U.S. investors don?t understand their business models. But with this kind of shady corporate governance, can they blame investors for discounting them?
Ping An has completed the acquisition of a 47.4 percent stake in Autohome Inc for $1.6bn from Telstra Corporation, and the new management team has replaced the previous CEO and CFO.
Since Ping An already has effective control of Autohome and there are uncertainties in the domestic capital market, so the former may ?take a pause,? before any further share acquisition, Zhou believes. He added, ?That said, investors should keep in mind that Ping An may still take the company private or introduce other strategic investors at certain time (but more likely at a lower price, in our view).?
Autohome: The Road To Becoming The No.1 Automotive Portal In China
With markets at all-time highs, it is becoming increasingly difficult to find undervalued companies. One has to look around the world to identify great opportunities. I believe that Autohome is one of them, as it's a well managed business, with high returns on invested capital, strong competitive advantages and low valuation compared to potential future cash flows.
Die chinesische Regierung hat eine groß angelegte Steuersenkung angekündigt. 55 Milliarden Dollar (380 Milliarden Yuan) sollen die Erleichterungen nach Berechnungen der Regierung zusammengenommen betragen. Das Ziel der Reform sei es, den Konsum im Land weiter anzuheizen und kleine Unternehmen zu stärken.
Die Digitalisierung schreitet also immer weiter voran. Doch von dem Online-Handel zeigt sich bisher ein Markt nahezu unbeeindruckt. Hierbei handelt es sich um den Automarkt. Bislang findet der herkömmliche Autokauf noch immer in Autohäusern statt. Das wird sich in Zukunft ändern. Denn Amazon kündigte zuletzt an, dass der Konzern den Einstieg in den europäischen Autohandel plant. Dazu wurde bereits Personal abgeworben. Der erste Testmarkt soll mittlerweile feststehen.
Die Begutachtung eines Autos im Bereich der Automobil-Plattformen lief bisher über statische Fotos. Autohome hat in Kooperation mit HiScene einen Augmented Reality Showroom geschaffen. Bisher verfügt dieser über 30 Automarken und rund 60 Modelle. Die virtuellen Fahrzeuge können in drei Dimensionen erforscht werden. Zudem können virtuelle Testfahrten durch verschiedene Städte erfolgen. Dabei sollen Merkmale wie Beschleunigung, Bremsen oder der Kraftstoffverbrauch möglichst realitätsnah erkennbar sein. Autohome erhofft sich durch diesen AR-Showroom eine emotionalere Haltung des Kunden gegenüber den Autos. Das Gefühl nach einer virtuellen Testfahrt auf der Seite nach realen Autos zu suchen, soll dazu führen, dass Menschen ein besseres Gefühl beim Kauf bekommen. Letztlich soll es natürlich auch die Verkäufe der Händler und somit auch den Umsatz und Gewinn von Autohome steigern.
Die Konkurrenz schläft nicht. In China scheint das Geschäft rund um die AR-Showrooms ein boomender Markt zu sein. Konkurrenten wie Bitauto haben ebenfalls ein Projekt rund um den virtuellen Showroom gestartet. Es bleibt abzuwarten, welches dieser Modelle besser angenommen wird.
Autohome (ATHM) is on the move, and as the company focuses on big data to drive future growth, analysts believe there could be more room for the stock to run.
Initiating coverage on China's online destination for all-things-automotive with a buy rating on Jan. 2, Citi said that Autohome is "gaining share in auto ad budgets." Not only does the website ? with content ranging from professional to user-generated to informational listings ? make money from advertising, it's also growing sales in two other segments: auto finance and data products. Citi expects these newer areas to drive the "next leg of growth."
UBS maintained its sell rating in the wake of Autohome's quarterly report in early November, saying there's a "lack of visibility in (the) 2018 growth outlook."?
wird Autohome m.E. wirklich interessant. Wachstum weiterhin da und weniger riskant, als sich einzelne Autohersteller ins Depot zu legen. Wollen zukünftig 20 % ihres Gewinns als Dividende ausschütten. Mfg