Financial Performance - For Q3 2024, Autohome reported total net revenue of RMB 1,774.5 million (USD 252.9 million), a decrease from RMB 1,906.0 million in Q3 2023, representing a year-over-year decline of approximately 6.9%[3] - The net profit attributable to Autohome for Q3 2024 was RMB 441.3 million (USD 62.9 million), down from RMB 578.3 million in the same period last year, reflecting a decrease of about 23.7%[3] - Adjusted net profit for Q3 2024 was RMB 497.2 million (USD 70.8 million), compared to RMB 603.8 million in Q3 2023, indicating a decline of approximately 17.6%[3] - Media services revenue for Q3 2024 was RMB 326.0 million (USD 46.5 million), down from RMB 476.9 million in Q3 2023, a decrease of about 31.6%[6] - Net profit attributable to ordinary shareholders in Q3 2024 was RMB 425.7 million (USD 60.7 million), compared to RMB 564.0 million in Q3 2023, reflecting a decline of about 24.5%[11] - Basic and diluted earnings per share for Q3 2024 were RMB 0.88 (USD 0.13) and RMB 0.87 (USD 0.12), respectively, down from RMB 1.15 in the same period of 2023[11] - Gross profit for Q3 2023 was RMB 1,532,479 thousand, compared to RMB 1,366,864 thousand in Q3 2024, indicating a decrease of about 10.8%[20] - Operating profit for Q3 2023 was RMB 166,037 thousand, down from RMB 82,616 thousand in Q3 2024, reflecting a decline of approximately 50.2%[20] - Adjusted EBITDA for Q3 2023 was RMB 540,118 thousand, compared to RMB 402,661 thousand in Q3 2024, showing a decrease of about 25.5%[21] - The net profit margin for Q3 2023 was 30.3%, which decreased to 24.9% in Q3 2024[21] Operating Costs and Expenses - Operating costs for Q3 2024 were RMB 407.7 million (USD 58.1 million), an increase from RMB 373.6 million in Q3 2023, reflecting a year-over-year growth of about 9.1%[7] - Total operating expenses for Q3 2024 were RMB 1,352.2 million (USD 192.7 million), down from RMB 1,431.4 million in Q3 2023, indicating a decrease of approximately 5.5%[8] - Research and development expenses for Q3 2024 were RMB 339.2 million (USD 48.3 million), slightly down from RMB 355.2 million in Q3 2023, a decrease of about 4.5%[8] - Research and development expenses for Q3 2023 were RMB 355,172 thousand, compared to RMB 339,159 thousand in Q3 2024, indicating a decrease of about 4.5%[20] Cash Flow and Liquidity - As of September 30, 2024, the company had cash and cash equivalents totaling RMB 23.06 billion (USD 3.29 billion) and net cash flow from operating activities of RMB 208.5 million (USD 29.7 million) for Q3 2024[12] - Cash and cash equivalents stood at RMB 4,996,353 thousand, down from RMB 2,529,304 thousand, suggesting a decrease in liquidity[22] Shareholder Returns - The company approved a cash dividend of USD 1.15 per American depositary share, totaling approximately RMB 1 billion, to be paid to shareholders on record as of December 31, 2024[4] - The board of directors approved a dividend of USD 1.15 per American depositary share (or USD 0.2875 per ordinary share), totaling approximately RMB 1 billion[13] Employee and Operational Insights - The total number of employees as of September 30, 2024, was 4,710, including 1,414 employees from Tian Tian Pai Che[14] - The company aims to continue expanding its business boundaries in the automotive industry and enhance operational efficiency across various business lines to ensure long-term sustainable value for shareholders[5] - The company aims to leverage technology to continuously reduce decision-making and transaction costs in the automotive industry, enhancing its service offerings to consumers[16] Balance Sheet Highlights - Total assets as of December 31, 2023, amounted to RMB 30,835,731 thousand, a decrease from RMB 29,921,891 thousand as of September 30, 2024[22] - Current assets totaled RMB 25,524,988 thousand, compared to RMB 24,811,111 thousand in the previous period, indicating a slight increase[22] - Total liabilities increased to RMB 5,662,493 thousand from RMB 3,886,891 thousand, reflecting a significant rise in financial obligations[22] - The total equity attributable to Autohome shareholders was RMB 23,928,187 thousand, showing a decrease from RMB 24,794,511 thousand[22] - Non-current assets were reported at RMB 5,310,743 thousand, a slight decrease from RMB 5,110,780 thousand[22] - The total current liabilities rose to RMB 5,075,351 thousand, compared to RMB 3,379,025 thousand in the previous period, indicating increased short-term financial pressures[22] - The total non-current liabilities were RMB 587,142 thousand, compared to RMB 507,866 thousand previously, indicating a rise in long-term obligations[22] - The total equity increased slightly to RMB 23,414,305 thousand from RMB 24,147,477 thousand, reflecting a minor change in shareholder equity[22] Upcoming Events - Autohome will hold an earnings conference call on November 6, 2024, at 7:00 AM ET (8:00 PM Beijing time)[15] User Engagement - The number of mobile daily active users increased by 5.6% year-over-year, reaching 72.87 million, demonstrating the company's growing influence in the automotive-related user base[5] Financial Metrics - Autohome utilizes adjusted net profit and EBITDA as non-GAAP financial metrics to provide a clearer view of its financial performance[18]

Exhibit 99.1 Autohome Inc. Announces Unaudited Third Quarter 2024 Financial Results BEIJING, November 6, 2024 – 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 September 30, 2024. Third Quarter 2024 Highlights 1 Mr. Tao Wu, Chief Executive Officer of Autohome, stated, "In the third quarter, we made substantial progress in advancing our integrated ...

Core Viewpoint - Autohome Inc. reported a decline in net revenues and net income for the third quarter of 2024 compared to the same period in 2023, while also announcing a cash dividend and share repurchase program to enhance shareholder value [2][3][12]. Financial Performance - Net revenues for Q3 2024 were RMB1,774.5 million (US$252.9 million), down from RMB1,906.0 million in Q3 2023, representing a decrease of approximately 6.9% [2][4]. - Net income attributable to Autohome was RMB441.3 million (US$62.9 million) in Q3 2024, compared to RMB578.3 million in Q3 2023, reflecting a decline of about 23.7% [12][14]. - Adjusted net income (Non-GAAP) was RMB497.2 million (US$70.8 million) in Q3 2024, down from RMB603.8 million in Q3 2023, a decrease of approximately 17.6% [14][22]. Revenue Breakdown - Media services revenues were RMB326.0 million (US$46.5 million) in Q3 2024, down from RMB476.9 million in Q3 2023 [5]. - Leads generation services revenues remained stable at RMB830.7 million (US$118.4 million) in Q3 2024, slightly up from RMB830.1 million in Q3 2023 [5]. - Online marketplace and others revenues increased to RMB617.8 million (US$88.0 million) in Q3 2024, compared to RMB599.1 million in Q3 2023 [5]. Cost and Expenses - Cost of revenues increased to RMB407.7 million (US$58.1 million) in Q3 2024 from RMB373.6 million in Q3 2023, primarily due to rising operational costs [7]. - Operating expenses decreased to RMB1,352.2 million (US$192.7 million) in Q3 2024 from RMB1,431.4 million in Q3 2023 [8]. - Sales and marketing expenses were reduced to RMB876.5 million (US$124.9 million) in Q3 2024 from RMB935.2 million in Q3 2023 [9]. Shareholder Returns - The board of directors approved a cash dividend of US$1.15 per ADS (or US$0.2875 per ordinary share), with an aggregate amount of approximately RMB1 billion expected to be paid around March 2025 [16][22]. - As of November 1, 2024, the company had repurchased 244,302 American depositary shares for a total cost of approximately US$6.7 million [2][16]. Strategic Developments - The CEO highlighted progress in advancing the integrated online-to-offline ecosystem strategy, with a 5.6% year-over-year growth in average mobile daily active users to 72.87 million in September 2024 [3]. - The company is expanding its offline presence through franchise stores and collaborations with Ping An Group to enhance its offerings in various automotive sectors [3].

Core Points - Autohome Inc. will report its financial results for Q3 2024 on November 6, 2024, before U.S. markets open [1] - An earnings conference call will be held at 7:00 AM U.S. Eastern Time on the same day [1] - A live and archived webcast of the conference call will be available on Autohome's investor relations website [2] Company Overview - Autohome Inc. is the leading online destination for automobile consumers in China, focusing on reducing decision-making and transaction costs in the auto industry through advanced technology [3] - The company provides a variety of content types, including occupationally generated, professionally generated, user-generated, and AI-generated content, along with a comprehensive automobile library and extensive listing information [3] - Autohome's platform allows automakers and dealers to conduct advertising campaigns and market their inventory, generating sales leads and improving efficiency [3] - The company operates "Autohome Mall," a full-service online transaction platform, and offers value-added services such as auto financing, insurance, used car transactions, and aftermarket services [3]

Core Viewpoint - Autohome (NYSE: ATHM) presents a compelling investment opportunity in China's electric vehicle (EV) market, distinct from original equipment manufacturers (OEMs) which face profitability challenges and intense competition [1][2]. Company Overview - Autohome's current stock price is $27.98, reflecting a gain of 1.97% [2]. - The company operates platforms that connect the automobile industry with consumers, providing services such as advertising, lead generation, listings, transactions, and insurance [2]. - Autohome has a dividend yield of 6.00% and a P/E ratio of 13.26, with a price target set at $28.00 [2]. Financial Performance - Autohome's revenue growth is slow, maintaining a low-single-digit pace in Q2 2024, driven by increasing user counts despite sluggish demand due to economic headwinds [3]. - Net income increased nearly 3%, while revenue grew almost 1%, indicating improved earnings performance [3]. - The company has a positive cash flow, allowing it to maintain a strong balance sheet and initiate a $200 million buyback program, representing nearly 6% of its market cap [4]. Dividend and Capital Return - Autohome's annual dividend is $1.68, with a 3-year annualized dividend growth of 30.97% and a payout ratio of 79.62% [3][4]. - The dividend is expected to be paid in two semi-annual payments through 2026, reflecting a commitment to returning capital to shareholders [4]. Market Dynamics - The Chinese automobile market is projected to experience low-to-mid-single-digit growth, primarily driven by EV sales, which are expected to grow by 15% to 20% over the next few years [2]. - The introduction of BYD's low-priced Seagull model at approximately $12,000 is anticipated to influence market dynamics significantly [2]. Institutional Interest - Institutional ownership of Autohome is strong, with institutions holding nearly 65% of the stock, including major shareholder Ping An Insurance Group, which owns about 45% [5]. - Despite a "Hold" rating from analysts, the stock shows signs of recovery, with a recent bottom at $22 and potential resistance at $27.50, with a target of $32 representing about 15% upside [5].

Core Viewpoint - The article discusses the significance of stock buybacks as a sign of corporate strength and their potential to enhance shareholder value, while noting that not all buybacks are equally effective [1]. Group 1: Rockwell Automation - Rockwell Automation announced a new $1 billion buyback authorization, increasing the existing allotment to $1.35 billion, which represents about 4.6% of its market cap [3]. - The share count for Rockwell Automation decreased by 1.2% at the end of Q3, an acceleration from the previous year's 0.75% reduction [3]. - The company has a dividend yield of 1.94% and a P/E ratio of 25.22, with a price target set at $282.80 [4]. Group 2: Helen of Troy - Helen of Troy has authorized a new $500 million share repurchase, replacing an old authorization worth only $55 million, which is about 40% of the stock [5]. - The share count was reduced by 2% in Q1 compared to the previous year, with expectations for continued repurchases [5]. - The company has a P/E ratio of 8.71 and is currently trading 18% below the lowest forecasted price target [5]. Group 3: Autohome Inc. - Autohome Inc. initiated a $200 million buyback authorization, expected to reduce the share count by 4.5% [7]. - The company has a high dividend yield of 6.23% and a P/E ratio of 12.79, with a price target of $28.00 [7]. - Institutional interest in Autohome has increased, with total holdings rising to over 64% [7].

Core Viewpoint - Autohome Inc. maintains a Buy investment rating due to attractive shareholder yield and potential positive surprises in Q3 2024 results driven by regulatory tailwinds [1] Share Buyback Program - Autohome's board approved a new share repurchase program to buy back up to $200 million worth of shares over the next 12 months, resulting in an estimated forward buyback yield of approximately 6.2% [2] - The company has around $3.2 billion in cash and investments, which is roughly equivalent to its current market capitalization of $3.21 billion, indicating sufficient capital for the buyback [2] - Current trading multiples suggest that share repurchases could be value accretive for Autohome [2] Dividend Policy - Autohome plans to distribute at least RMB1.5 billion (approximately $211 million) in dividends annually on a semi-annual basis from FY 2024 to FY 2026, translating to a 6.5% dividend yield [3] - The company's 1H 2024 normalized net profit was $147 million, indicating sufficient earnings to support the dividend payments [3] Regulatory Tailwinds - Autohome benefits from increased vehicle replacement subsidies in China, with subsidies for electric vehicles rising from RMB10,000 to RMB20,000 and for internal combustion engine vehicles from RMB7,000 to RMB15,000 [5] - The increase in subsidies is expected to boost automotive sales, as evidenced by significant sales growth reported by companies like BYD and Tesla [5] Revenue Streams - Autohome's revenue primarily comes from advertising services and lead generation services, which are likely to grow alongside increased automotive sales [5] - The company experienced a 3.4% YoY revenue growth in the first half of the year, with modest expectations for a 0.3% YoY increase in Q3 2024 [5] Market Valuation - Autohome is currently valued at depressed multiples, suggesting potential for re-rating if shareholder capital returns improve and Q3 2024 results exceed expectations [7]

Core Viewpoint - Autohome Inc. has announced a new share repurchase program, allowing the company to buy back up to US$200 million worth of its shares over the next 12 months, effective from September 4, 2024 [1][2]. Group 1: Share Repurchase Program - The new share repurchase program will enable Autohome to repurchase shares through various means, including open market transactions, privately negotiated transactions, and block trades, depending on market conditions [2]. - The Board of Directors will periodically review the share repurchase program and may adjust its terms, size, or even suspend or discontinue it [2]. - The funding for the repurchases will come from the company's existing cash balance [2]. Group 2: Company Overview - Autohome Inc. is recognized as the leading online platform for automobile consumers in China, aiming to reduce decision-making and transaction costs in the auto industry through advanced technology [3]. - The company offers a wide range of content, including occupationally generated, professionally generated, user-generated, and AI-generated content, along with a comprehensive automobile library and extensive listing information [3]. - Autohome provides services such as dealer subscriptions and advertising, enabling dealers to market their inventory and services effectively, thereby generating sales leads [3]. - The company operates "Autohome Mall," a full-service online transaction platform, and offers additional value-added services like auto financing, insurance, used car transactions, and aftermarket services [3].

Investors in Autohome Inc. (ATHM) need to pay close attention to the stock based on moves in the options market lately. That is because the Sept 20, 2024 $20 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean ...

Summary of AutoHome's Second Quarter and Interim 2024 Earnings Conference Call Company Overview - The conference call pertains to AutoHome, a leading online platform for automobile transactions in China [1] Key Points and Arguments - The call is focused on the second quarter and interim results for 2024, indicating a structured approach to financial reporting and transparency [1] Additional Important Content - The call is recorded, suggesting a commitment to accountability and providing stakeholders with access to the information discussed [1]