Autohome, Inc. (NYSE:ATHM) Q2 2023 Earnings Conference Call July 27, 2023 8:00 AM ET Company Participants Sterling Song - IR Director Quan Long - Chairman & CEO Craig Yan Zeng - CFO Conference Call Participants Xiaodan Zhang - CICC Ritchie Sun - HSBC Thomas Chong - Jefferies Brian Gong - Citi Operator Ladies and gentlemen, thank you for standing by for Autohome's Second Quarter and Interim 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session wi ...

[2023 Q2 and Interim Results Summary](index=2&type=section&id=2023%E5%B9%B4%E7%AC%AC%E4%BA%8C%E5%AD%A3%E5%BA%A6%E5%8F%8A%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E6%91%98%E8%A6%81) [Performance Highlights](index=2&type=section&id=%E6%A5%AD%E7%B8%BE%E4%BA%AE%E9%BB%9E) The company achieved robust financial growth in Q2 2023 with total net revenue up 5.8% and adjusted net income increasing by 20.6%, alongside strong mobile user growth and share repurchases Key Financial Indicators for Q2 2023 | Metric | 2023 Q2 | 2022 Q2 | YoY Change | | :--- | :--- | :--- | :--- | | Total Net Revenue (Million RMB) | 1,833.0 | 1,733.0 | +5.8% | | Net Income Attributable to Autohome (Million RMB) | 504.7 | 435.0 | +16.0% | | Adjusted Net Income Attributable to Autohome (Million RMB) | 569.5 | 472.2 | +20.6% | - According to QuestMobile data, Autohome's mobile daily active users reached **62.71 million** in June 2023, a **31.7% year-over-year increase**, maintaining its leading position in automotive vertical media[5](index=5&type=chunk) - As of July 21, 2023, the company had repurchased **4,697,330 American Depositary Shares** totaling approximately **$141 million**[3](index=3&type=chunk) [Financial Performance Analysis](index=3&type=section&id=%E8%B2%A1%E5%8B%99%E6%A5%AD%E7%B8%BE%E5%88%86%E6%9E%90) Q2 2023 total revenue growth was primarily driven by online marketing and other services, while operating expenses remained stable, leading to a 13.3% increase in operating profit Q2 2023 Net Revenue Composition (Million RMB) | Revenue Category | 2023 Q2 | 2022 Q2 | YoY Change | | :--- | :--- | :--- | :--- | | Media Services | 532.0 | 530.6 | +0.3% | | Leads Services | 759.6 | 752.8 | +0.9% | | Online Marketing and Others | 541.4 | 449.6 | +20.4% | | **Total Net Revenue** | **1,833.0** | **1,733.0** | **+5.8%** | Q2 2023 Operating Expense Analysis (Million RMB) | Expense Category | 2023 Q2 | 2022 Q2 | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Sales and Marketing Expenses | 824.1 | 738.7 | +11.6% | Increased marketing and promotional activities | | General and Administrative Expenses | 91.0 | 126.6 | -28.1% | Decrease in allowance for expected credit losses | | Research and Development Expenses | 313.0 | 362.2 | -13.6% | Decrease in personnel-related expenses | | **Total Operating Expenses** | **1,228.1** | **1,227.5** | **+0.05%** | - | Q2 2023 Profit and Earnings Per Share | Metric | 2023 Q2 | 2022 Q2 | YoY Change | | :--- | :--- | :--- | :--- | | Operating Profit (Million RMB) | 341.5 | 301.3 | +13.3% | | Net Income Attributable to Ordinary Shareholders (Million RMB) | 491.2 | 423.4 | +15.9% | | Diluted Net Income Per ADS (RMB) | 3.98 | 3.38 | +17.8% | [Balance Sheet and Cash Flow](index=5&type=section&id=%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8%E5%8F%8A%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F) As of June 30, 2023, the company maintained a healthy financial position with **RMB 23.34 billion** in cash, cash equivalents, and short-term investments, alongside stable operating cash flow - As of June 30, 2023, the company's total cash and cash equivalents and short-term investments amounted to **RMB 23.34 billion** (approximately **$3.22 billion**), indicating ample capital reserves[11](index=11&type=chunk) - In Q2 2023, net cash flow from operating activities was **RMB 522.0 million** (approximately **$72.0 million**)[11](index=11&type=chunk) [Business Outlook and Strategy](index=2&type=section&id=%E6%A5%AD%E5%8B%99%E5%B1%95%E6%9C%9B%E8%88%87%E6%88%B0%E7%95%A5) The company is actively advancing its "Big C-end" strategy, focusing on the new energy vehicle market and AI technology applications to drive diversified business growth through innovative offline experiences and proprietary GPT models - The company is actively advancing its "Big C-end" strategy, making steady progress in content refinement, ecosystem diversification, and panoramic traffic coverage[3](index=3&type=chunk) - For the new energy vehicle market, the company launched innovative offline promotion models, including "Caravan-style Holographic Cabins" to serve lower-tier cities and the first "Autohome Energy Station" franchise store, marking the expansion of its new retail model[3](index=3&type=chunk) - Accelerating the application of AI technology across all scenarios, the company has developed two decision-support products based on GPT models, aiming to provide more efficient services to users and clients and help partners reduce costs and increase efficiency[3](index=3&type=chunk) - Revenue from new energy vehicle brands continues to maintain strong growth momentum[5](index=5&type=chunk) [Unaudited Consolidated Financial Statements](index=9&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E8%A8%88%E5%90%88%E4%BD%B5%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=9&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E8%A8%88%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E5%88%A9%E6%BD%A4%E8%A1%A8) The financial statements show year-over-year growth in net revenue and net income for both Q2 and H1 2023, with Q2 net revenue at **RMB 1.833 billion** and H1 net revenue at **RMB 3.367 billion** Q2 2023 Income Statement Summary (Thousand RMB) | Item | 2023 Q2 | 2022 Q2 | YoY Change | | :--- | :--- | :--- | :--- | | Total Net Revenue | 1,833,034 | 1,732,993 | +5.8% | | Gross Profit | 1,502,807 | 1,454,129 | +3.3% | | Operating Profit | 341,509 | 301,251 | +13.4% | | Net Income Attributable to Autohome | 504,734 | 435,016 | +16.0% | H1 2023 Income Statement Summary (Thousand RMB) | Item | 2023 H1 | 2022 H1 | YoY Change | | :--- | :--- | :--- | :--- | | Total Net Revenue | 3,366,663 | 3,204,285 | +5.1% | | Gross Profit | 2,696,222 | 2,670,404 | +1.0% | | Operating Profit | 604,674 | 542,487 | +11.5% | | Net Income Attributable to Autohome | 910,236 | 753,264 | +20.8% | [Unaudited Condensed Consolidated Balance Sheets](index=11&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E8%A8%88%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of June 30, 2023, the company reported total assets of **RMB 30.63 billion** and total liabilities of **RMB 5.03 billion**, demonstrating strong asset strength and liquidity with substantial current assets Balance Sheet Summary (Thousand RMB) | Item | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash, Cash Equivalents and Short-term Investments | 23,335,071 | 22,080,891 | | Total Assets | 30,627,266 | 29,715,819 | | Total Liabilities | 5,028,806 | 4,627,193 | | Total Autohome Shareholders' Equity | 24,373,717 | 23,888,842 | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=10&type=section&id=%E7%BE%8E%E5%9C%8B%E9%80%9A%E7%94%A8%E6%9C%83%E8%A8%88%E6%BA%96%E5%89%87%E8%88%87%E9%9D%9E%E9%80%9A%E7%94%A8%E6%9C%83%E8%A8%88%E6%BA%96%E5%88%99%E8%AA%BF%E7%AF%80%E8%A1%A8) This section details the reconciliation from GAAP net income to Non-GAAP adjusted net income, with key adjustments in Q2 2023 including share-based compensation and intangible asset amortization, resulting in an adjusted net income of **RMB 569.5 million** and a **31.1%** adjusted net margin Q2 2023 GAAP to Non-GAAP Net Income Reconciliation (Thousand RMB) | Item | 2023 Q2 | 2022 Q2 | | :--- | :--- | :--- | | Net Income Attributable to Autohome (GAAP) | 504,734 | 435,016 | | Add: Share-based compensation expenses | 41,628 | 28,396 | | Add: Amortization of intangible assets resulting from business acquisitions | 10,722 | 10,722 | | Add: Loss from investment in a wealth management product | 14,532 | 4,021 | | Other adjustments and tax impact | (1,150) | (6,150) | | **Adjusted Net Income Attributable to Autohome (Non-GAAP)** | **569,466** | **472,223** | Net Margin Comparison | Metric | 2023 Q2 | 2022 Q2 | | :--- | :--- | :--- | | Net Margin (GAAP) | 27.5% | 25.1% | | Adjusted Net Margin (Non-GAAP) | 31.1% | 27.2% | [Company Information and Others](index=5&type=section&id=%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF%E5%8F%8A%E5%85%B6%E4%BB%96) [About Autohome](index=6&type=section&id=%E9%97%9C%E6%96%BC%E6%B1%BD%E8%BB%8A%E4%B9%8B%E5%AE%B6) Autohome is China's leading online automotive consumer service platform, aiming to reduce decision-making and transaction costs in the automotive industry through technology, offering comprehensive content and services for consumers, manufacturers, and dealers - The company is positioned as China's leading online automotive consumer service platform[13](index=13&type=chunk) - Its core mission is "to continuously reduce decision-making and transaction costs in the automotive industry through technology"[13](index=13&type=chunk) - Business scope includes providing comprehensive automotive content (OGC, PGC, UGC, AI content) for consumers, offering advertising, sales leads, data analytics, and marketing services for manufacturers and dealers, and operating the "Che Mall" online transaction platform, along with value-added services like auto finance, insurance, and used car services[13](index=13&type=chunk) [Conference Call Information](index=5&type=section&id=%E9%9B%BB%E8%A9%B1%E6%9C%83%E8%AD%B0%E4%BF%A1%E6%81%AF) The company has scheduled an earnings conference call for Thursday, July 27, 2023, at 8:00 AM U.S. Eastern Time, with registration and webcast details provided - The conference call is scheduled for **8:00 AM U.S. Eastern Time** (8:00 PM Beijing Time) on **July 27, 2023**[12](index=12&type=chunk) - Participants must pre-register via a designated link to obtain dial-in information, with a webcast and replay also available[12](index=12&type=chunk) [Explanation of Non-GAAP Financial Measures](index=7&type=section&id=%E9%9D%9E%E7%BE%8E%E5%9C%8B%E9%80%9A%E7%94%A8%E6%9C%83%E8%A8%88%E6%BA%96%E5%88%99%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E8%AA%AA%E6%98%8E) The company utilizes Non-GAAP financial measures such as adjusted net income and EPS to evaluate operating performance by excluding non-operating or non-cash items like share-based compensation and intangible asset amortization, providing clearer insight into core business trends - The company uses adjusted net income, adjusted net income per share, adjusted net margin, and adjusted EBITDA as supplementary Non-GAAP financial measures[15](index=15&type=chunk) - Key items excluded from Non-GAAP measures include: share-based compensation expenses, amortization of intangible assets from business acquisitions, investment gains/losses from certain wealth management products, equity method investment gains/losses, impairment of long-term investments, and related income tax effects[15](index=15&type=chunk) - The purpose of using these measures is to help investors understand the company's operating and financial performance and facilitate consistent comparisons across different reporting periods[15](index=15&type=chunk)

Financial Data and Key Metrics Changes - Total revenue increased by 4% year-over-year to RMB1.63 billion, with adjusted net income up by 10.5% year-over-year to RMB484 million [6][20] - Adjusted net margin remained high at 31.5% [6] - Gross margin decreased to 77.8% from 82.7% year-over-year [19] Business Line Data and Key Metrics Changes - Media services revenue grew by 35.5% year-over-year to RMB361 million [18] - Revenue from new energy vehicle (NEV) brands increased by 67% year-over-year, significantly outperforming broader industry sales [13] - Lease generation services revenues were RMB681 million, while online marketplace and other revenues were RMB492 million [18] Market Data and Key Metrics Changes - Cumulative retail sales of passenger vehicles dropped by 13.4% from January to March 2023, but showed a year-over-year growth of 55.5% in April [24][25] - NEV sales increased by 22.4% year-over-year in Q1 2023, with penetration reaching 30.8% [27] Company Strategy and Development Direction - The company is focusing on a dual ecosystem strategy, enhancing user services and customer services [7] - Autohome is expanding its offline experience stores and franchise model for NEVs, aiming to enhance customer engagement and decision-making efficiency [31][32] - The company is committed to leveraging technological innovation and partnerships, such as with Baidu, to enhance its service offerings [8][41] Management Comments on Operating Environment and Future Outlook - Management noted a stabilization and recovery in the auto market, with expectations for increased consumer demand and supportive government policies [9][30] - The company anticipates continued growth in the NEV market, driven by new models and government incentives [28][29] Other Important Information - The company has a strong balance sheet with cash, cash equivalents, and short-term investments of RMB22.71 billion [20] - Autohome has repurchased approximately 3.94 million ADS for a total cost of approximately US$119 million as part of its share repurchase program [21] Q&A Session Summary Question: Structural opportunities in the auto market and NEV retail model progress - Management acknowledged a sluggish auto market in Q1 but noted signs of recovery in April, with NEV sales continuing to grow [24][25][30] - The new retail model for NEVs has gained recognition, with plans to expand franchise stores [31][32] Question: Used car business revenue growth and profitability - Despite pressures from new car price cuts, the used car business showed growth, with TTP revenue increasing by 25% year-over-year [36][37] - Management expects the used car market to grow due to rising car prices and improved synergy between used car and TTP businesses [39][40] Question: Challenges and opportunities from AIGC and large models - Management views AIGC as a tool for enhancing competitiveness and is integrating it into their ecosystem strategy [41][42] Question: Data products target and cash usage plans - The company plans to optimize existing data products and expand their client base, with a focus on new product launches [45][46] - Autohome is financially sound and aims to increase dividend payouts while exploring new investment opportunities [48][49] Question: OEM revenue growth outlook amid weak auto sales - Management believes that the auto industry is long-term and that fluctuations will not significantly impact OEMs [51] - The launch of new car models at the Shanghai Auto Show is expected to create more advertising opportunities [52][53]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 Autohome Inc. 汽車之家* （於開曼群島註冊成立的有限公司） （股份代號：2518） 2023 年 第 一 季 度 未 經 審 計 財 務 業 績 公 告 我們謹此宣佈截至2023年3月31日止第一季度的未經審計財務業績（「業績」）。 業 績 可 於 香 港 聯 合 交 易 所 有 限 公 司 網 站 https://www.hkexnews.hk 及 我 們 的 網 站 https://ir.autohome.com.cn 閱覽。 承董事會命 汽車之家 董事、主席及首席執行官 龍泉先生 香港，2023年5月11日 於本公告日期，本公司董事會包括董事龍泉先生、魯俊先生、肖京博士及劉錚先生以及獨立董事劉峻嶺先生、 ...

Exhibit 99.1 LOGO Autohome Inc. Announces Unaudited 2023 Second Quarter and Interim Financial Results BEIJING, July 27, 2023 – 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 ended June 30, 2023. Second Quarter 2023 Highlights1 • Net Revenues in the second quarter of 2023 were RMB1,833.0 million (US$252.8 million), compared to RMB1,733.0 ...

Share Capital and Structure - Autohome Inc. reported a total of 492,742,468 ordinary shares outstanding as of December 31, 2022[5]. - The company has a share capital of $0.0025 per ordinary share[5]. - Autohome Inc. is classified as a large accelerated filer under the Securities Exchange Act[6]. Financial Performance - The company reported a revenue of $1.2 billion for the last quarter, representing a year-over-year increase of 15%[12]. - User data showed an increase in active users to 25 million, up from 20 million in the previous quarter, marking a 25% growth[12]. - The company reported a net profit margin of 20%, consistent with the previous quarter[12]. - Net revenue for 2022 was RMB 6,940,828 thousand, a decrease of 9.1% compared to RMB 7,237,004 thousand in 2021[33]. - Gross profit for 2022 was RMB 5,705,655 thousand, reflecting a gross margin of approximately 82.2%[33]. - Operating profit for 2022 was RMB 1,247,522 thousand, down 30% from RMB 1,781,612 thousand in 2021[33]. - Net profit attributable to Autohome Inc. for 2022 was RMB 1,855,174 thousand, a decrease of 17.4% from RMB 2,248,785 thousand in 2021[33]. - Basic earnings per share for 2022 was RMB 3.62, compared to RMB 4.30 in 2021, representing a decline of 15.8%[33]. Future Guidance and Growth Initiatives - The company provided guidance for the next quarter, expecting revenue to be between $1.3 billion and $1.4 billion, indicating a potential growth of 8% to 17%[12]. - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[12]. - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[12]. - Market expansion plans include entering three new countries by the end of the year, targeting a 10% increase in market share[12]. - A new strategic partnership was announced, projected to generate an additional $100 million in revenue over the next two years[12]. Assets and Liabilities - Total assets increased to $5 billion, reflecting a 12% growth compared to the previous year[12]. - The total assets of Autohome Inc. reached RMB 29,715,819 thousand as of December 31, 2022, up from RMB 28,399,435 thousand in 2021[36]. - The company reported a total liability of RMB 4,627,193 thousand as of December 31, 2022, a slight increase from RMB 4,591,636 thousand in 2021[36]. - The company's cash and cash equivalents, including restricted cash, increased to RMB 22,090,066 thousand in 2022, compared to RMB 20,822,623 thousand in 2021[36]. Regulatory and Compliance Risks - The company operates through variable interest entities due to restrictions on foreign investment in internet content services in mainland China[18]. - The company faces significant risks and uncertainties related to its operations in mainland China, including complex and rapidly evolving laws and regulations[22]. - The company is subject to potential severe penalties if its contractual arrangements with variable interest entities are deemed non-compliant with Chinese regulations[21]. - The company must comply with the Cybersecurity Law of the People's Republic of China, which requires network operators to protect networks from unauthorized access and data breaches[72]. - The company is subject to significant regulatory uncertainty regarding compliance with the E-commerce Law, which mandates the protection of consumer data and prohibits misleading advertising practices[168]. Market and Competitive Landscape - The company acknowledges the competitive landscape in mainland China as a risk factor impacting its operations[15]. - The company faces intense competition in the automotive media and lead generation business from various Chinese automotive vertical websites and mobile applications, as well as large internet portals[60]. - The company faces risks related to reliance on the Chinese automotive industry, which is influenced by various uncertainties including government regulations and policies[51]. - The automotive industry in mainland China, which is critical for the company's revenue and future growth, has faced significant challenges, including a 28-year low in growth in July 2018 and a decline in new passenger car purchases in 2018, 2019, and 2020[58]. Dividends and Cash Flow - Autohome Inc. paid total cash dividends of USD 99.8 million, USD 105.7 million, and USD 61.1 million in fiscal years 2020, 2021, and 2022 respectively[29]. - The company has established a regular dividend policy, which is contingent on the financial performance of its subsidiaries[29]. - The company relies heavily on dividends from its domestic subsidiaries to meet cash and financing needs, which poses a risk if such payments are restricted[28]. Research and Development - Research and development expenses for 2022 totaled RMB 1,417,094 thousand, an increase of 1.4% from RMB 1,398,037 thousand in 2021[33]. - Autohome Inc. aims to enhance its technological capabilities and product offerings to drive future growth, with ongoing investments in research and development[38]. Risks Related to Shareholder Interests - The company faces significant risks related to the collection of accounts receivable from automotive manufacturers, particularly in a declining domestic automotive market, which could adversely affect business performance and financial condition[84]. - The company cannot guarantee that VIE shareholders will act in its best interests during conflicts of interest, which could impact financial benefits[144]. - The interests of individual shareholders in VIEs may conflict with the company's interests, potentially leading to adverse effects on business operations[143]. Economic and Political Factors - Economic uncertainties, including consumer confidence drops, could significantly impact the company's business and financial performance[107]. - International trade policies and escalating political tensions, particularly between the US and China, may negatively affect the company's business performance[200]. - The company is currently reducing its European business scale amid increasing trade and political tensions[200]. Cybersecurity and Data Protection - The company has implemented technical measures to ensure the security of personal data collected from users, but still faces inherent risks related to data protection and compliance with evolving regulations[70]. - The company faces significant risks related to data breaches and unauthorized access, which could lead to costly litigation and damage to its reputation[74]. - The evolving regulatory landscape in China may require the company to adjust its business practices to comply with new data protection laws and regulations[78]. Human Resources and Labor Costs - The average wage level of employees has increased in recent years, and labor costs are expected to continue rising[196]. - The company anticipates that labor costs, including wages and employee benefits, will continue to increase, potentially impacting profitability[197]. - Stricter regulations regarding employee benefits and labor contracts may adversely affect the company's operations and financial performance[198].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Autohome Inc. (NYSE:ATHM) Q4 2022 Earnings Conference Call February 16, 2023 7:00 AM ET Company Participants Sterling Song - Investor Relations, Director Quan Long - Chairman & Chief Executive Officer Craig Yan Zeng - Chief Financial Officer Conference Call Participants Thomas Chong - Jefferies Ritchie Sun - HSBC Brian Gong - Citi Operator Ladies and gentlemen, thank you for standing by for Autohome's Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen- ...

Exhibit 99.1 LOGO Autohome Inc. Announces Unaudited First Quarter 2023 Financial Results BEIJING, May 11, 2023 – 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 ended March 31, 2023. First Quarter 2023 Highlights1 • Net Revenues in the first quarter of 2023 were RMB1,533.6 million (US$223.3 million), compared to RMB1,471.3 million in the corresponding p ...

Autohome Inc. (NYSE:ATHM) Q3 2022 Earnings Conference Call November 3, 2022 8:00 AM ET Company Participants Sterling Song - Director, Investor Relations Quan Long - Chairman & Chief Executive Officer Craig Zeng - Chief Financial Officer Conference Call Participants Thomas Chong - Jefferies Brian Gong - Citi Ritchie Sun - HSBC Operator Ladies and gentlemen, thank you for standing by for Autohome’s Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A questio ...