HONG KONG, Nov. 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 third quarter, 2022. Autohome accelerated the implementation of the auto ecosystem through marketing reforms and achieved a series of positive results. The third quarter results resembled a v-shaped rebound. Net revenues amounted to RMB1,843 million increasing by 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 over the first half of the year beating consensus estimates.
In the third quarter, Autohome has strived to develop metaverse initiatives and signed Gong Jiuyu, the first metahuman in the industry. The Company successfully held the 4th "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 has reached a strategic cooperation with Huawei to jointly expand internet traffic scenarios and build a traffic alliance system. The Company has also collaborated with Beijing Institute of Technology to jointly create multiple data products and services in the New Energy Vehicles (NEV) industry and attract more NEV and used car customers.
Driven by a series of efforts, Autohome's performance in the third quarter showed a significant recovery momentum. According to QuestMobile, Autohome's aggregated average daily users recorded five months of consecutive growth increasing by 13.4% year-on-year to 49.56 million in September with over 12.83 million mobile APP DAU maintaining a leading position in the auto vertical media industry.
In the third quarter, revenue from media business amounted to RMB556 million registering an increase of 28% year-on-year. Revenue from our lead generation business grew by more than 5% year-on-year or just over 7% quarter-on-quarter. According to the registration volume of passenger cars for compulsory traffic accident liability insurance, the market share of Autohome in terms of sales increased by 23% year-on-year during the first three quarters showing that the Company's influence on sales has been further enhanced. In the third quarter, revenue from NEV brands increased by 140.7% year-on-year which continued to outperform overall industry sales growth. For used car business, through its matching and auction services, the Company's platform accounted for around 21% of all used car trading volume in China in the third quarter, with a 3% year-on-year growth and a long-term positive trend.
Mr. Quan Long, Chairman of the Board of Directors and Chief Executive Officer of Autohome, stated, "With the support from our users, customers and shareholders, the Company has maintained its strong recovery momentum and continued to accomplish extraordinary operating results in the third quarter. Moving ahead, Autohome will continue to optimize the costs of decision-making and transactions in the auto industry leveraging its technology and provide customers with a convenient 'worry-free, time-saving, and money-saving' auto buying experience. We remain committed to becoming the leading B2B and B2C one-stop auto service provider with our 'Content Ecosystem + Tool Servicing + Transaction Platform' while creating greater value for our users, customers and shareholders."
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.
For more information, please visit our website: http://ir.autohome.com.cn/
Tel: 852 6816 5846
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Source: Autohome Related Stocks: HongKong:2518 NYSE:ATHM