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Rating: BITA
Buy

Bitauto Hldg Ltd (ADR) (NYSE: BITA) rated to Buy by HSBC Securities

Wednesday,  Jan 27, 2016  10:25 AM ET by Kristen Bailey

HSBC Securities rated
Bitauto Hldg Ltd (ADR) (NYSE: BITA) to Buy.

Bitauto Holdings Limited (Bitauto) is a holding company. The Company is a provider of Internet content and marketing services for People?s Republic of China?s automotive industry. Its bitauto.com and ucar.cn Websites provide consumers with up-to-date new and used automobile pricing information, specifications, reviews and consumer feedback. Through its vertical plus portal model, the Company also distribute its dealer customers? automobile pricing and promotional information through 67 partner Websites, including major portals operated by Tencent, Sina, Netease, Yahoo China and Tom Online. It has three segments: bitauto.com business, ucar.cn business and digital marketing solutions business. The Company conducts all of its business through its operating subsidiary, Beijing Bitauto Internet Information Company Limited (BBII) and its consolidated special purpose entities (SPEs) in People?s Republic of China.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.



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