Autohome 2022 Q1 results exceed expectations

Sales from NEV and used vehicle business outperform the market

HONG KONG, May 24, 2022 /PRNewswire/ — Autohome Inc. (NYSE: ATHM; HKEX: 2518) (“Autohome” or the “Company”), the leading online destination for automotive customers in Chinatoday announced its unaudited consolidated results for the past three months March 31, 2022. Net sales were 1.47 billion RMB. Adjusted net income attributable to Autohome Inc. was RMB 438 million. The adjusted net profit ratio was 29.7%. Overall results exceeded expectations and maintained excellent profitability with a high net win ratio.

(PRNews photo/Autohome)

(PRNews photo/Autohome)

car homeMobile DAU grew 7.5% to 45.2 million in March

During the quarter, Autohome strengthened the diversity of its content platforms by actively developing short video and live streaming content. The company has updated its NEV platform with a refreshed layout and user-friendly features to meet different user needs and behaviors, creating a more flexible and convenient user interface. These initiatives have successfully strengthened Autohome’s content ecosystem while delivering a better user experience. According to QuestMobile, Autohome’s mobile DAU grew 7.5% in March to 45.2 million, reinforcing the company’s leadership position in the auto media industry and far outperforming the combined DAU of the second- and third-largest players in the market combined.

NEV business revenue up 156.1% year-on-year

On the frontline of digital products, Autohome continued to build on its platform’s big data analytics capabilities and industry-leading technology to drive innovation and support the digital transformation of OEMs and dealers. The company has effectively expanded the digital OEM product range and built a closed marketing cycle with comprehensive coverage from advertising to transaction. Both the number of customers and the units purchased per customer in our digital products business increased year-on-year.

Regarding the NEV business, Autohome focused on the implementation of the “1+3” ecosystem strategy. It is The aim is to integrate brand and distribution to build a complete, closed-loop marketing cycle through Autohome’s NEV trade service, while generating diversified revenue streams from the big data services, NEV SaaS and O2O (online-to-offline) car ownership activities . During the quarter, Autohome worked with most of the NEV brands, and revenue from the NEV business grew 156.1% year over year, outpacing the revenue growth of the NEV market.

Regarding the used car business, Autohome has continued to strengthen its position in the used car market as the Company continues to deepen its synergies with TTP Car Inc. (“TTP”). Thanks to its matching and auctioning capabilities, Autohome is now involved in approximately 20% of all used passenger car trade-ins China. Although sales of used passenger cars were slightly down year-on-year across the market, Autohome outperformed the market and delivered 5% year-on-year growth.

Mr. Quan LangAutohome’s Chairman and Chief Executive Officer said: “The company will continue to strengthen its traditional business fundamentals while actively investing in new business opportunities as it advances. Although the resurgence of COVID-19 in the first half of 2022 has presented us with an enormous challenge of China auto industry and the broader Chinese economy, Autohome remains determined to face the difficulties and overcome them together. The company expects its business to recover quickly as the industry recovers in the second half of the year. Autohome will leverage its core competencies to explore larger markets and achieve more sustainable profit margins to deliver greater, longer-term benefits. Backed by strong network effects, outstanding innovation skills and an experienced, visionary management team, Autohome will continue to develop of China automotive industry and create long-term values ​​for the entire industry.”

About Autohome

Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automotive customers in China. According to QuestMobile, the company ranked first in the industry with 67.72 million monthly active users Sep 2021. Its mission is to improve the buying and ownership experience for car buyers in Germany China. Autohome provides professionally produced and user-generated content, a comprehensive automotive library and comprehensive vehicle information for automotive consumers, spanning the entire car buying and ownership cycle.

The ability to reach a large and engaged user base of automotive customers has made Autohome a preferred platform for auto manufacturers and dealers to run promotional campaigns. Additionally, the Company’s dealer subscription and advertising services allow dealers to market their inventory and services through Autohome’s platform, expanding the reach of their physical showrooms to potentially millions of internet users China and generating sales leads for them.

The company provides sales contacts, data analysis and marketing services to help automakers and dealers improve efficiency and facilitate transactions. As a transaction-oriented company, Autohome operates Autohome Mall, a full-service online transaction platform that facilitates transactions for automakers and dealers. In addition, it also offers other value-added services including auto financing, auto insurance, used car transactions, and aftermarket services through its website and mobile applications.

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SOURCE Autohome

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