<div id="readability-page-1"><div> <p>JPMorgan published a report stating that AUTOHOME-S (02518.HK)<span> </span><span> -0.340 (-0.957%)  </span> 's 1Q results confirmed that the ongoing downturn cycle in the auto sector continues to exert heavy pressure on its core revenue sources. Data from the China Passenger Car Association showed that mainland auto retail sales in April fell about 22% YoY, further deteriorating from the roughly 17% decline in 1Q. The broker expects limited room for a significant rebound in 2Q.The report maintained a Neutral rating on AUTOHOME-S, based on a forecast 2026 price-to-earnings ratio of 13x. The TP was lowered from HKD40 to HKD32. The US share TP for Autohome Inc. (ATHM.US)<span> </span>  <span> </span>   was also cut from USD20 to USD17.JPMorgan expects that, supported by automakers' spending related to the Beijing Auto Show, the decline in media revenue will narrow QoQ. However, under weak industry profitability, lead generation revenue will remain under pressure. The new O2O transaction services business is still at a very early pilot stage, with low visibility on scaling prospects. The broker suggested waiting for clearer evidence of a recovery in dealer budgets or progress in the new retail business before turning more constructive.JPMorgan trimmed its 2026 and 2027 non-GAAP EPS forecasts for AUTOHOME-S by 11% and 3%, respectively, reflecting weaker-than-expected 1Q earnings, while keeping revenue forecasts unchanged. The broker believes shareholder returns remain a consistent priority for the company. The current three-year plan, which includes annual dividends of no less than RMB1.5 billion and additional share buybacks, will continue through 2026. A new three- to five-year framework will be discussed in 2H.AASTOCKS Financial NewsWebsite: www.aastocks.com</p><br/>HK stocks quote is delayed for at least 15 mins<br/>Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed<p>AASTOCKS Financial News</p> </div></div>

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<p>JPMorgan cut AUTOHOME-S's target price to HKD32 and maintained a Neutral rating, citing limited recovery visibility amid an auto sector downturn. The broker lowered EPS forecasts for 2026-2027 due to weak Q1 earnings and pressure on lead generation revenue. While media revenue decline may narrow, new O2O business remains in early stages. JPM suggests waiting for clearer signs of dealer budget recovery or retail business progress before upgrading the outlook.</p>

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JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM Cuts AUTOHOME-S  TP to HKD32; Recovery Visibility Limited, Rates Neutral