Autohome’s Q2 2022 Revenues Beat Consensus, Maintain Strong Recovery Momentum and Show Excellent Profitability

HONG KONG, August 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 three and six months ending the June 30, 2022. The Company maintained its growth momentum which resulted in a strong recovery in the second quarter. Net income amounted to RMB 1,733.0 million with a 17.8% increase quarter over quarter, beating a Bloomberg consensus estimate of RMB 1,711 million. The company posted better-than-consensus numbers for the second straight quarter. In the meantime, the Company continued to post exceptional profitability with a high net profit ratio. Adjusted net income attributable to Autohome amounted to 472.2 million RMB while the adjusted net income ratio was 27.2%. Buoyed by stimulus measures and pent-up demand, media services revenue also jumped 98.9% quarter-on-quarter to 530.6 million RMB while revenue from lead generation services grew 6.3% QoQ to reach 752.8 million RMB.

In the second quarter, the company’s core businesses showed strong performance as the new energy business continued to improve, with revenue growth accelerating and outpacing the market average. The Company’s data products and services continued to contribute to revenue with annual growth of more than 40% in data products used by dealerships with more than 18,000 customers. In synergy with TTP Car and Ping An Group for used cars, Autohome is developing a C2B2B2C ecosystem that provides full chain coverage in the used car market. In the second quarter, Autohome captured nearly 23% of used car transactions in China by working with TTP Car using aggregation and auction services. Sales attributed to the partnership increased 6% year over year. Meanwhile, the partnership with Ping An Group is also developing as expected and is expected to result in a unique proposition that will ensure Autohome customers have an enhanced service experience.

Mr. Quan LongChairman of the Board of Directors and Managing Director of Autohomesaid, “Despite the challenging business environment in the first half of this year, Autohome delivered yet another strong quarter demonstrating our business resilience and market leadership position. With the Chinese government’s stimulus plans for automotive consumption which are expected to come into effect in the second half of the year and supported by a strong balance sheet and abundant cash, we are confident that we are well positioned to seize new opportunities in strategic areas that will contribute to Autohome’s future growth. Content Ecosystem + Tool Servicing + Transaction Platform”, while accelerating new initiatives and deepening synergies with the Ping An Group. We look forward to generating additional long-term value for our users, customers, shareholders and other stakeholders through fully automatic search, purchase and use. ecosystem.”

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 detailed 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.

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