Autohome 2022 Q2 Revenues Beats Consensus, Sustains Strong Recovery Momentum, Posts Excellent Profitability
sonnguyen 3-08-2022, 18:39
Autohome 2022 Q2 Revenues Beats Consensus, Sustains Strong Recovery Momentum, Posts Excellent Profitability

HONG KONG, Aug. 3, 2022 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China,  today announced its unaudited  financial results  for  the three months and six months ending on June 30, 2022. The Company maintained its growth momentum that has led to a strong recovery in the second quarter. Net revenues amounted to RMB1,733.0 million with an increase of 17.8% quarter-on-quarter beating a Bloomberg consensus estimate of RMB1,711 million. The company has posted higher than consensus figures for the second consecutive quarter. Meanwhile, the Company has continued to demonstrate outstanding profitability with a high net profit ratio. Adjusted net income attributable to Autohome amounted to RMB472.2 million while adjusted net profit ratio was 27.2%. Supported by policy stimulus and pent-up demand, media services revenues also surged 98.9% quarter-on-quarter to RMB530.6 million while leads generation services revenues increased by 6.3% quarter-on-quarter to RMB752.8 million.

In the second quarter, the Company's core business lines posted solid performance with the new energy business continuing to improve with revenue growth accelerating and outpacing the market average. Data products and services by the Company continued to contribute to revenue with a year-on-year growth of more than 40% in data products used by dealers with more than 18,000 customers. With synergies with TTP Car and Ping An Group for used cars, Autohome is developing a C2B2B2C ecosystem that ensures full chain coverage within the used car market. In the second quarter, Autohome captured nearly 23% of used car transactions in China by working with TTP Car utilizing aggregation and auction-based services. Sales attributed to the partnership rose by 6% year-on-year. Meanwhile, the partnership with the Ping An Group is also developing as planned and is expected to lead to a unique proposition that will ensure Autohome customers get an improved service experience.

Mr. Quan Long, Chairman of the Board of Directors and Chief Executive Officer of Autohome, stated, "Despite the challenging business environment in the first half of this year, Autohome still delivered another solid quarter demonstrating our business resilience and market-leading position. With the stimulus packages by Chinese government for auto consumption expected to take effect in the second half of the year and supported by a robust balance sheet and abundant cash on hand, we are confident that we are well-positioned to capture new opportunities in strategic areas that will contribute to Autohome's future growth. Moving ahead, we remain committed to enhancing 'Content Ecosystem + Tool Servicing + Transaction Platform' while accelerating new initiatives and deepening synergies with Ping An Group. We look forward to generating additional long-term value for our users, customers, shareholders and other stakeholders across a comprehensive auto search, purchase and use ecosystem."

About Autohome

Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automobile 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 enhance the car-buying and ownership experience for auto consumers in China. Autohome provides professionally produced and user-generated content, a comprehensive automobile library and extensive automobile listing information to automobile consumers covering the entire car purchase and ownership cycle.

The ability to reach a large and engaged user base of automobile consumers has made Autohome a preferred platform for automakers and dealers to conduct advertising campaigns. Further, the Company's dealer subscription and advertising services allows dealers to market their inventory and services through Autohome's platform extending the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them.

The Company offers sales leads, data analysis and marketing services to assist automakers and dealers improving their efficiency and facilitating transactions. As a transaction-centric company, Autohome operates "Autohome Mall," a full-service online transaction platform facilitating transactions for automakers and dealers. Further, through its website and mobile applications, it also provides other value-added services including auto financing, auto insurance, used car transactions and aftermarket services.

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Source: Autohome Related Stocks: HongKong:2518 NYSE:ATHM
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