Autohome posts solid results in the third quarter of 2022 with positive growth

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HONG KONG, November 3, 2022 /PRNewswire/ — Autohome Inc. (NYSE: ATHM; HKEX: 2518) (“Autohome” or the “Company”), the leading online destination for automotive consumers in China, today announced its unaudited financial results for the third quarter of 2022. Autohome accelerated the implementation of the automotive ecosystem through marketing reforms and achieved a series of positive results. Third quarter results looked like a V-shaped rebound. Net revenue was 1,843 million RMB up 4.5% year-on-year. Adjusted net income attributable to Autohome amounted to RMB590.0 million. Adjusted net margin was 32.0% with a significant improvement compared to the first half of the year, beating consensus estimates.

(PRNewsfoto/Autohome)

In the third quarter, Autohome worked hard to develop metaverse initiatives and signed Gong Jiuyu, the industry’s first metahuman. The Company successfully organized the 4e “Autohome 818 Super auto show” and also introduced an innovative retail model with its first Autohome Energy Space launched in Shanghai. In the third quarter, Autohome entered into a strategic cooperation with Huawei to jointly expand Internet traffic scenarios and build a traffic alliance system. The company has also collaborated with the Beijing Institute of Technology to jointly create several data products and services in the New Energy Vehicle (NEV) industry and attract more NEV and used car customers.

Buoyed by a series of efforts, Autohome’s performance in the third quarter showed significant recovery momentum. According to QuestMobile, Autohome’s average aggregate daily user count recorded five consecutive months of growth, rising 13.4% year-over-year to 49.56 million in September, with more than 12, 83 million mobiles. DAU-APP maintain a leading position in the automatic vertical media industry.

In the third quarter, revenue from the media business amounted to 556 million RMB registering a 28% year-on-year increase. Revenue from our lead generation business increased over 5% year-over-year or just over 7% quarter-over-quarter. According to passenger car registration volume for mandatory traffic accident liability insurance, Autohome’s market share in terms of sales increased 23% year-on-year in the first three quarters, which shows that the Company’s influence on sales has further increased. In the third quarter, NEV Brands revenue grew 140.7% year-on-year, continuing to outpace overall industry sales growth. For the used car industry, through its matching and auction services, the Company’s platform accounted for approximately 21% of all used car trade volume in China in the third quarter, with 3% year-on-year growth and a positive long-term trend.

Mr. Quan LongChairman of the Board of Directors and Managing Director of Autohomesaid, “With the support of our users, customers and shareholders, the company maintained its strong recovery momentum and continued to deliver extraordinary operating results in the third quarter. Going forward, Autohome will continue to optimize decision-making costs and transactions in the automotive industry by leveraging its technology and providing customers with a convenient “worry-free, time-saving and cost-saving” automotive shopping experience. We remain committed to become the leading B2B and B2C one-stop automotive service provider with our ‘Content Ecosystem + Tool Servicing + Transaction Platform’ while creating greater value for our users, customers and shareholders.”

About Auto-Home

Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automotive consumers in China. According to QuestMobile, the company ranked first in the industry with 66.30 million monthly active users in June 2022. Its mission is to improve the car buying and ownership experience for automotive consumers in China. Autohome provides professionally produced and user-generated content, a comprehensive automotive library, and in-depth automotive listing information to automotive consumers spanning the entire car buying and ownership cycle.

The ability to reach a large and engaged user base of automotive consumers has made Autohome a preferred platform for automakers and dealerships to conduct advertising campaigns. Additionally, the Company’s dealer subscription and advertising services allow dealers to market their inventory and services through Autohome’s platform, extending the reach of their physical showrooms to potentially millions of customers. internet users in China and generate leads for them.

The Company offers sales leads, data analytics and marketing services to help automakers and dealerships improve efficiency and facilitate transactions. As a transaction-centric company, Autohome operates “Autohome Mall”, a full-service online transaction platform facilitating transactions for automakers and dealerships. Additionally, through its website and mobile applications, it also provides other value-added services, including car financing, car insurance, used car transactions and after-sales services.

For more information, please visit our website: http://ir.autohome.com.cn/

Media contact:

Hill+Knowlton Strategies

Rachel Zhu

Tel: 852 6816 5846

Email: autohome@hkstrategies.com

Sico Wu

Tel: 852 5339 4297

SOURCE Autohome

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