ATHM: Coping With Tough Market To Deliver Good Results In 2Q20; Market Is Still Under Pressure Despite Recovery From The Low In February
ATHM will report 2Q20 earnings on August 25th before the markets open with an 8am EST conference call. We are positive on ATHM’s 2Q20 earnings. Based on our data and calculations, we believe ATHM’s 2Q20 revenue is likely to be better than consensus at RMB2,279M. China’s auto market showed Y/Y growth in 2Q20. Due to the outbreak of COVID-19 in China, monthly car production and wholesale sales went down sharply in February 2020 but have recovered since March 2020.