AUTOHOME-S

Retail revenue reached RMB 1.575bn (+63.2% YoY). Full-year retail revenue growth guidance was raised to 40%.

However, Q2 RevPAR was only 100.7% of last year, with mature stores slipping to 97%. Full-year net margin is still expected to edge down YoY, pressured by a shift in revenue mix and a higher effective tax rate.