香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 承董事會命 Autohome Inc. 董事及首席執行官 劉斥先生 Autohome Inc. 汽車之家* （於開曼群島註冊成立的有限公司） （股份代號：2518） Autohome Inc.（「本公司」）董事會（「董事會」）將於2026年3月5日（星期四）（香港時間）舉行 董事會會議，並將於會上批准本公司及其附屬公司截至2025年12月31日止三個月及全年 的未經審計財務業績及公告（「業績」）等議案。本公司將於2026年3月5日（星期四）（香港 時間）香港聯合交易所有限公司交易時段後及美國股市開市前於香港聯合交易所有限公 司網站https://www.hkexnews.hk及本公司網站https://ir.autohome.com.cn公佈該業績。 註冊鏈接：https://register-conf.media-server.com/register/BIdfc55c5793964417869b4d3 ...

Core Viewpoint - Autohome Inc. will announce its financial results for the fourth quarter and full year of 2025 on March 5, 2026, before U.S. markets open [1] Group 1: Financial Results Announcement - The financial results will cover the period ending December 31, 2025 [1] - An earnings conference call is scheduled for March 5, 2026, at 7:00 AM U.S. Eastern Time [1] - Participants must register in advance to receive dial-in numbers and a personal PIN for the conference call [1] Group 2: Company Overview - Autohome Inc. is a leading online platform for automobile consumers in China, providing a wide range of content and services related to the automotive industry [1] - The company offers various types of content, including occupationally-generated, professionally-generated, user-generated, and AI-generated content [1] - Autohome's services include dealer subscriptions, advertising, sales leads, data analysis, and marketing services to enhance efficiency for automakers and dealers [1] - The company operates "Autohome Mall," a full-service online transaction platform, and provides additional services such as auto financing, insurance, used car transactions, and aftermarket services [1]

经济观察网 汽车之家在2026年战略加速落地，新零售与生态合作成为关注焦点。 公司项目推进 公司持续推动人工智能与O2O战略融合，2025年第三季度在线营销及其他业务收入同比增长32.1%，新 零售业务成为增长引擎。未来，与海尔集团及卡泰驰的协同效应预计将进一步释放生态价值。 财务状况 2025年第三季度，汽车之家实现净收入17.78亿元，净利润4.366亿元，并派发每股美国存托股1.20美元 的现金分红。公司通过高分红和股票回购传递现金流充裕信号。 以上内容基于公开资料整理，不构成投资建议。 2026年2月，汽车之家公布了"2026新零售战略"，计划在一年内于全国8大区域落地1000家新零售加盟 店，以打通汽车消费服务的"最后五公里"，并同步启动"电商作战组织"的大规模人才招募。这一战略标 志着公司从垂直媒体向线上线下融合的数字化生态平台转型的深化。 业务与技术发展 ...

此外，MSCI全球小盘股指数于中国香港地区纳入冠君产业信托(02778)、长江生命科技(00755)、富卫集 团(01828)、鹰普精密(01286)、德翔航运(02510)。同时剔除大家乐集团(00341)、德林国际(01126)、 SuperX AI(SUPX.US)。 | 纳入 | 剔除 | | --- | --- | | 冠君产业信托(02778) | 大家乐集团(00341) | | 长江生命科技(00775) 。 | 德林国际(01126) | | 富卫集团(01828) | SuperX AI (SUPX. US) | | 鹰普精密(01286) | | | 德翔航运(02510) | | 同时剔除雅生活服务(03319)、京东方精电(00710)、建发国际集团(01908)、ChainceDigital(CD.US)等11 只个股。 安井食品 百奥赛图 富卫集团 德翔海运 布鲁可 长江生命科技 分时图 日K线 周K线 月K线 88.42 -1.46 -1.62% 2.09% 1.39% 0.70% 0.00% 0.70% 1.39% 2.09% 88.00 88.63 89.25 89.88 ...

智通财经APP获悉，2月11日，国际指数编制公司MSCI(明晟公司)公布了其2026年2月的指数季度调整结 果，本次调整将于2月27日收盘后生效。其中，MSCI全球小盘股指数于中国地区纳入安井食品 (02648)、汽车之家(ATHM.US)、百奥赛图(02315)、布鲁可(00325)、中国通信服务(00552)、中国罕王 (03788)等21只个股。 | 同时剔除雅生活服务(03319)、京东方精电(00710)、建发国际集团(01908)、ChainceDigital(CD.US)等11 | | --- | | 只个股。 | 此外，MSCI全球小盘股指数于中国香港地区纳入冠君产业信托(02778)、长江生命科技(00755)、富卫集 团(01828)、鹰普精密(01286)、德翔航运(02510)。同时剔除大家乐集团(00341)、德林国际(01126)、 SuperX AI(SUPX.US)。 | 纳入 | 剔除 | | --- | --- | | 冠君产业信托(02778) | 大家乐集团(00341) | | 长江生命科技(00775) = | 德林国际(01126) | | 富卫集团(01828) ...

每经AI快讯，纳斯达克金龙中国指数初步收涨0.9%。热门中概股里，汽车之家涨超4%，腾讯音乐涨超 3%，理想汽车涨近3%，阿里巴巴涨超2%，小鹏汽车、蔚来、京东涨超1%。 （文章来源：每日经济新闻） ...

Core Insights - The Chinese internet advertising industry has transitioned from a phase of "incremental traffic acquisition" to a focus on "efficiency extraction from existing resources" [1][2] - The new rule emerging from this differentiation is that technology determines efficiency, efficiency drives revenue, and ecosystem shapes the landscape [2] Group 1: Advertising Revenue Performance - Alibaba's advertising revenue for Q3 2025 reached 789.27 billion yuan, a 10% year-on-year increase and a slight 2.1% quarter-on-quarter growth, maintaining its leading position in the industry [5] - Pinduoduo's online marketing service revenue was 533.48 billion yuan, an 8% year-on-year increase but a 1.2% quarter-on-quarter decline, indicating a strategic focus on long-term ecosystem development [6][7] - Tencent's marketing service revenue grew by 21% to 362 billion yuan, showcasing the effectiveness of its technology-driven approach [7][8] - JD.com's market and marketing revenue increased by 23.7% to 256.88 billion yuan, driven by the growth of its food delivery business and AI-enabled advertising solutions [10] - Bilibili's advertising revenue reached 25.7 billion yuan, with a 23% year-on-year growth, attributed to the maturation of its user base [11] Group 2: Challenges Faced by Mid-Tier Platforms - Baidu's online marketing revenue fell by 18.6% to 153 billion yuan, primarily due to budget cuts from advertisers and the restructuring of search scenarios by AI [12][14] - Zhihu's advertising revenue declined by 26.19%, reflecting a mismatch between its high-knowledge user base and consumer conversion needs [15] - Automotive media service revenue for Che168 dropped by 8.59%, as traditional advertising models struggle against the evolving strategies of new energy vehicle companies [16] Group 3: Industry Trends and Future Outlook - The differentiation in advertising revenue among internet companies in Q3 2025 signifies a reconstruction of internet marketing value logic, focusing on traffic depth, transaction closure, and technology adaptation [16] - Platforms achieving growth typically exhibit a combination of extensive traffic, ecosystem closure, and deep integration of AI technology, while declining platforms often lack these comprehensive advantages [16] - The future of internet marketing will prioritize platforms that can achieve ecosystem synergy, embedded technology, and full-link value delivery, moving away from traditional single-channel models [16]

Core Insights - Fairfax Financial's latest 13F indicates a strong commitment to real assets, energy, and restructuring platforms with minimal portfolio turnover, reflecting satisfaction with current holdings rather than tactical changes [1] Company Summaries - **Orla Mining (ORLA)**: Maintained a position of 56.8 million shares valued at $610.5 million, representing approximately 29.6% of the portfolio, indicating confidence in asset durability and inflation hedging [2] - **Occidental Petroleum (OXY)**: Held 6.05 million shares worth $285.9 million, about 13.9% of the portfolio, with no changes made, suggesting satisfaction with risk/reward dynamics as the company focuses on deleveraging [3] - **BlackBerry (BB)**: Reduced position by 5,389,380 shares to 35.4 million shares valued at $172.3 million, approximately 8.4% of the portfolio, reflecting a pragmatic de-risking approach amid ongoing restructuring [4] - **Kraft Heinz (KHC)**: Increased position by 235,000 shares to 5.12 million shares valued at $133.2 million, around 6.5% of the portfolio, consistent with a strategy of accumulating cash flow at discounted valuations [5] - **Molson Coors (TAP)**: Added 71,571 shares for a total of 1.29 million shares valued at $58.4 million, approximately 2.8% of the portfolio, indicating a preference for staples with pricing power [6] - **Vanguard S&P 500 ETF (VOO)**: Trimmed position by 14,652 shares to 58,248 shares valued at $35.7 million, about 1.7% of the portfolio, reflecting a strategy to reduce passive index exposure [7] - **Helmrich & Payne (HP)**: Increased position by 200,000 shares to 1.17 million shares valued at $25.9 million, approximately 1.3% of the portfolio, indicating a thematic bet on energy services and capital discipline [8] - **Full Exits**: Autohome (ATHM) and Lifeway Foods (LWAY) were fully exited, reflecting a cleanup of non-core positions [9] Portfolio Themes - **Low Turnover = High Conviction**: The stability of the portfolio suggests that Fairfax is already positioned for the macro environment anticipated last year [11] - **Hard Asset & Energy Bias**: The focus on ORLA, OXY, and HP highlights a preference for inflation hedging and real asset valuations [12] - **Restructuring Optionality**: BlackBerry is viewed as a multi-year operational value unlock rather than a growth investment [13] - **Cash Flow Defensives**: KHC and TAP are seen as providing income stability and potential for margin recovery [14] Takeaway - Fairfax remains committed to a strategy focused on value and optionality rather than momentum or AI trends, emphasizing hard assets and cash-flow consumers to realize intrinsic value [15]

Group 1 - The article reports that automotive platforms like Autohome have been penalized for conducting irregular evaluations [1] - Self-media accounts such as "Universal Big Bear" are accused of inciting conflict among consumer groups and defaming automotive companies and entrepreneurs [1]

Core Insights - The article discusses significant developments in the investment banking sector, highlighting trends and shifts in market dynamics [1] Group 1: Market Trends - Investment banks are experiencing increased competition due to the rise of fintech companies, which are offering innovative financial solutions [1] - There is a noticeable shift towards digital transformation within traditional investment banks, aiming to enhance operational efficiency and client engagement [1] Group 2: Financial Performance - Recent financial reports indicate a mixed performance among major investment banks, with some reporting a decline in revenue while others show growth in specific segments [1] - The overall market for mergers and acquisitions (M&A) has seen fluctuations, with a notable decrease in deal volume compared to previous years [1] Group 3: Regulatory Environment - Regulatory changes are impacting the investment banking landscape, with new compliance requirements being introduced that could affect profitability [1] - The article emphasizes the importance of adapting to these regulatory changes to maintain competitive advantage in the market [1]