Autohome beats expectations
We haven't got much direct exposure to the emerging markets in our Ultimate Stocks portfolio because it is looking for quality and reliability - both of which are quite hard to come by. Autohome is more reliable than most of its Chinese peers and comes with the added bonus of having a business model which will be very familiar to UK investors who follow Autotrader. There is huge growth potential in this exciting business.
China’s economic growth might be softening, but many people are still using Autohome for their motor needs. The online car retailer reported 25% revenue growth in the first quarter of 2019, taking the number of consecutive quarters of double-digit top line growth past the four year mark. The results came in ahead of the top end of management’s previous expectations.
Management points to the launch of new channels including improved search functionality which has…
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