译名:
Investment Value of Autohome Inc.——Synergy
英文关键词:
Acquisition; Digital transformation; Residual income model
中文摘要:
2016年6月,中国平安集团以16亿美元(每股29.55美元)从澳大利亚电信收购汽车之家47.7%股权,并获得了其控制权。在此之前,汽车之家由于盈利能力急速恶化,其股价从50美元的高位一路跌到22美元。此外,在收购汽车之家以前,中国平安已经深入布局汽车O2O,创建或收购了多家公司。但是,这些项目多数以失败告终。因此,中国平安入主汽车之家时,资本市场并不是很认可。然而,自汽车之家被中国平安收购后,中国平安对汽车之家进行一系列的战略转型后,汽车之家的股价也从2016年6月的20美元涨到2020年12月的99美元。
英文摘要:
In June 2016, Ping An Group acquired 47.7% equity of Autohome Inc. from Telstra for US $1.6 billion (US $29.55 per share) and obtained its control. Before that, due to the rapid deterioration of profitability, the stock price of Autohome Inc. fell all the way from a high of $50 per share to $22 per share. In addition, before the acquisition of Autohome Inc., Ping An Group has deeply laid out auto O2O and created or acquired a number of companies. However, most of these projects ended in failure. Therefore, when Ping An Group purchased the Autohome Inc., the capital market did not recognize it worth of very much. However, since the acquisition of Autohome Inc., Ping An Group has carried out a series of strategic transformation on Autohome Inc., and the stock price of Autohome Inc. has also increased from $20 per share in June 2016 to $99 per share in December 2020.
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