Bitauto Hldg Ltd (ADR) (NYSE:BITA), a leading provider of internet content and marketing services for China’s fast-growing automotive industry, today announced the appointment of Cynthia He as chief financial officer (CFO), effective immediately. She will succeed Andy Zhang, who will continue in his role as president of Bitauto and will work closely with Cynthia to ensure a seamless transition.
Mr. William Li, chief executive officer and chairman of Bitauto, said, “We’re delighted that Cynthia will join Bitauto at this exciting time. Coming from a strong finance and investor relations background, Cynthia has deep experience working with Chinese and multinational companies across a range of corporate disciplines. Combined with her strong understanding of Bitauto from her time working with us as an external advisor and her experience leading investor relations at Baidu, Cynthia is uniquely qualified to take on the role of CFO. I am confident that she will be a fantastic addition to our senior team.”
Ms. He joins Bitauto from Deutsche Bank China where she ran corporate communications for the past four years. Her previous roles have included head of investor relations for Baidu, the leading Chinese language internet search provider, advisor with international consultancy Brunswick Group and analyst with Standard & Poor’s Rating Services. She also served as Chief China Representative for Ignite! Learning, a leading US educational multimedia courseware provider. Ms. He holds an MBA from Columbia Business School and a BA from New York University’s Stern School of Business. (Original Source)
Shares of Bitauto closed last Friday at $25.64, down $0.64 or -2.44%. BITA has a 1-year high of $37.31 and a 1-year low of $16.09. The stock’s 50-day moving average is $26.55 and its 200-day moving average is $25.40.
On the ratings front, Bitauto has been the subject of a number of recent research reports. In a report issued on August 31, J.P. Morgan analyst Alex Yao upgraded BITA to Buy, with a price target of $35, which implies an upside of 36.5% from current levels. Separately, on August 10, Merrill Lynch’s Eddie Leung reiterated a Buy rating on the stock and has a price target of $36.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alex Yao and Eddie Leung have a total average return of 6.7% and 24.4% respectively. Yao has a success rate of 43% and is ranked #883 out of 4163 analysts, while Leung has a success rate of 69% and is ranked #215.
Bitauto Holdings Ltd. is engaged in the provision of internet content and marketing services for China’s automotive industry. It operates through the following segments: Bitauto.com, Toache.com and Digital marketing solutions. The Bitauto.com segment provides advertising services to dealers and automakers on the bitauto.com website. The Toache.com segment engages in the provision of listing services to used automobile dealers that enable them to display used automobile inventory information on the toache.com website and partner websites. It also provides advertising services to used automobile dealers and automakers with certified pre-owned automobile programs in toache.com. The Digital marketing segment provides automakers with one-stop digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services.