Stock Update (NYSE:BITA): Bitauto Hldg Ltd (ADR) Announces Chief Financial Officer Andy Zhang to Assume Additional Role of Chief Operating Officer

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 Mr. Andy Zhang to the position of chief operating officer in addition to his role as the Company’s chief financial officer. In his expanded role, Mr. Zhang will take on additional responsibility for the Company’s new business initiatives.

Mr. William Li, chief executive officer and chairman of Bitauto commented, “We are delighted to announce that Andy will take on the additional role of chief operating officer. Since joining in 2006, Andy has been instrumental to Bitauto’s success, and in his expanded role we look forward to benefiting further from his background and deep understanding of China’s automotive industry.”

Mr. Zhang has served as Bitauto’s chief financial officer since 2009 and was the Company’s vice president of finance from 2006 to 2009. Prior to joining Bitauto, Mr. Zhang also worked at Ernst & Young LLP and PricewaterhouseCoopers LLP from 2000 to 2004. Mr. Zhang received both of his Bachelor’s degrees in Finance and Accounting from New York University, and is a certified public accountant in the state of New York. (Original Source)

Shares of Bitauto closed yesterday at $28.99. BITA has a 1-year high of $98.28 and a 1-year low of $28.58. The stock’s 50-day moving average is $43.03 and its 200-day moving average is $54.79.

On the ratings front, Bitauto has been the subject of a number of recent research reports. In a report issued on August 4, Brean Murray Carret analyst Anne Shih reiterated a Hold rating on BITA. Separately, on May 11, Oppenheimer’s Ella Ji maintained a Buy rating on the stock and has a price target of $72.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Anne Shih and Ella Ji have a total average return of -3.7% and -8.0% respectively. Shih has a success rate of 44.4% and is ranked #3061 out of 3736 analysts, while Ji has a success rate of 28.3% and is ranked #3627.

Bitauto Holdings Ltd is engaged in the provision of Internet content and marketing services in the automobile industry, including advertising services, subscription services, listing services and one-stop digital marketing services in the PRC.

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