途虎-W：FY25 to regain traction after 2H24 slowdown

22 Jan 2025 CMB International Global Markets | Equity Research | Company Update Tuhu Car (9690 HK) FY25 to regain traction after 2H24 slowdown Maintain BUY. We project Tuhu's 2H24E adjusted net profit to fall 9% YoY and 32% HoH to about RMB243mn, as sales in 3Q24 could be weaker than market expectation. That has probably delayed some new store openings. On the other hand, we expect Tuhu's FY25E revenue to grow faster than FY24E, aided by new stores opened in 4Q24 and more support to stores to lure consumers ...