According to a research report from CITIC Lyon, AUTOHOME-S (02518) recorded total revenue of RMB 17.6 billion in the second quarter of this year, exceeding the firm's expectations by 1%. However, while media services revenue fell short of expectations, this was offset by robust growth in the online marketplace segment. Although the timing of the group's interim dividend remains uncertain, management has assured the market that the full-year dividend payout of RMB 1.5 billion will remain unchanged, implying a dividend yield of approximately 6%. The firm maintains its "Hold" rating on the group. The report indicates that as the price war among automakers gradually moderates, the firm expects media services revenue to resume growth in the third quarter. AUTOHOME-S targets adding 500 new stores by year-end, which will require additional cost investments.