The Zhitong Finance App learned that recently, CICC released a research report to express opinions on Tourover-W (09690)'s announcement of the merger and acquisition of the leading Australian auto service chain Mycar. CICC believes that the merger and acquisition boosted market confidence and raised the target price by 5.3% to HK$15.80, while maintaining a “outperforming industry” rating.
On September 24, 2026, Tourover announced that it plans to acquire the entire share capital of Conti Trade Australia, a subsidiary of the Continental Group. The target is to operate the Australian leading tire and auto service chain mycar, and has a nationwide network of direct stores. The transaction is yet to be approved by relevant regulations. CICC believes that this acquisition will help Tourover quickly acquire large-scale overseas offline outlets, local management teams and mature automotive aftermarket operation capabilities, shorten the overseas market cultivation cycle, promote diversification of revenue and geographical structure, and build a business hub for expanding other overseas markets.
According to institutional analysis, the core business of Tourover and mycar both focus on tires and maintenance services, and have a collaborative foundation at the level of product procurement, supply chain management, and store operation. After the merger of the two parties, Tourover can export digital operation experience, optimize operational efficiency, and is expected to unleash profit flexibility in the medium to long term.