Futu News on January 11, Automotive Internet platform$Autohome Inc (ATHM.US) $It fell 9% before the session and was suspected of being hit by$Zhongsheng Group (00881.HK) $Banned, Zhongsheng Group issued the notice on suspending the Cooperation and payment of Autohome Inc members:
Major brands, project team:
From now on, the examination and approval of all new members and advertising plans of Autohome Inc will be suspended; for dealers whose annual members of Autohome Inc have signed contracts and unpaid payments, payment will be suspended; if the contract has not been signed or the signing process has not been completed, the signing process will be suspended.
Documents suspected to have flowed out of Zhongsheng Group:
Some people said that with a total ban by Zhongsheng Group, Autohome Inc will reduce the income contributed by Zhongsheng Group by more than 100 million yuan in 2019.
As of press time, Autohome Inc has fallen by more than 9%:
Source of pre-market quotation: Futu Securities
It is understood that Zhongsheng Group, one of the largest auto sales in China, is currently listed on Hong Kong stocks with a market capitalization of about HK $33.6 billion.