5月14日，汽车之家将披露2025财年一季报（数据来源于纳斯达克官网，预计披露日期为美国当地时 间，实际披露日期以公司公告为准）。 资料显示，汽车之家(纽约证券交易所股票代码:ATHM;港交所股票代码:2518)是中国领先的汽车消费者 在线服务平台。公司使命旨在用科技驱动持续降低汽车行业决策和交易成本。汽车之家为汽车消费者提 供职业创作内容(OGC)、专业创作内容(PGC)、用户创作内容(UGC)、AI创作内容、全面的汽车车型库 以及广泛的汽车发布信息,涵盖整个购车及用车周期。由于能够接触到庞大且活跃的汽车消费者用户群, 汽车之家已成为汽车制造商及经销商推广广告活动的首选平台。此外,本公司的经销商订阅及广告服务 让经销商能够通过汽车之家的平台营销其库存及服务,将其实体展厅扩展至中国数百万潜在网络用户,并 获得销售线索。本公司提供销售线索、数据分析及营销服务,以协助汽车制造商及经销商提高效率及促 成交易。汽车之家运营其「车商城」,一个全功能线上交易平台,助力汽车制造商及经销商促进交易。此 外,本公司亦透过其网站及移动应用程序提供其他增值服务,包括汽车金融、汽车保险、二手车交易及售 后服务。 本文源自：金融界 作 ...

Financial Data and Key Metrics Changes - In the first quarter, net revenues were RMB 1,450 million, with media services revenues at RMB 242 million, lead generation services revenues at RMB 645 million, and online marketplace revenues at RMB 566 million, reflecting a 2% year-over-year increase [19] - Cost of revenue was RMB 316 million, with a gross margin of 78.3%, down from 81.3% in the same period last year [19] - Operating profit was RMB 233 million, compared to RMB 276 million for the same period last year, and adjusted net income attributable to Autohome was RMB 421 million, down from RMB 494 million year-over-year [20] - Non-GAAP basic and diluted earnings per share were both 0.88, compared to 1.02 in the corresponding period of 2024 [20] - As of March 31, 2025, cash, cash equivalents, and short-term investments totaled RMB 21,930 million [20] Business Line Data and Key Metrics Changes - Revenues from new energy vehicles (NEVs) and the new retail business increased by 72.6% year-over-year [14] - Revenues from data products increased by over 5% year-over-year [16] - The average mobile daily active users (DAUs) reached 76.92 million in March 2025, up 10.8% from the same period last year [13] Market Data and Key Metrics Changes - Overall new car sales grew by 6% year-on-year in Q1, with NEV sales increasing by 36% year-on-year, although this growth rate has slowed compared to previous periods [25][28] - Internal combustion engine (ICE) vehicle sales declined by 12% year-on-year [25] - The average profit margin of China's auto industry was only 3.9%, significantly lower than the 5.6% average for downstream industrial enterprises [26] Company Strategy and Development Direction - The company is focused on enhancing user experience and expanding its new retail network, with plans to exceed 500 locations by the end of 2025 [30][32] - Autohome aims to transform from a pure automotive media vertical into a comprehensive auto lifestyle ecosystem, enhancing the global automotive consumer ownership experience [18] - The company is actively exploring new emerging sectors and building a fully integrated online-to-offline ecosystem for services [10] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing structural adjustments in the market, with NEVs becoming the main growth driver and continued policy support leading to steady, modest growth [28] - The company is committed to improving user experience through intelligent professional tools and expanding its new retail network to address user pain points [29] - Management expects the price war in the auto industry to continue in the short run but believes that the room for further price decline is limited [40] Other Important Information - The company has authorized a new share repurchase program of up to USD 200 million, with approximately USD 128 million already executed as of May 2025 [21] - The company plans to maintain a consistent and stable shareholder return, with a dividend payout of no less than RMB 1.5 billion for the year [49] Q&A Session Summary Question: What is the implication of the auto industry's performance in Q1 for Autohome and the outlook for 2025? - Management noted that while new car sales grew, NEVs stood out with a growth rate of 36%, although slower than previous periods. They expect ongoing structural adjustments with NEVs as the main growth driver and continued policy support [24][28] Question: What is the progress on the new retail model and future plans? - Management reported the establishment of 29 space stores and 170 franchise satellite stores, with plans to exceed 500 locations by the end of 2025, focusing on lower-tier markets [30][32] Question: What is the status of the Harris acquisition and its impact on Autohome's strategy? - The acquisition is still pending regulatory approval, and management emphasized a commitment to the online-to-offline new retail model and the development of new energy vehicles [38] Question: When will OEM pricing stabilize, and what is the impact of dealership bankruptcies on lead generation? - Management believes the price war will continue in the short run but expects stabilization after inventory clearance and the end of subsidy policy transitions. They noted that dealers face challenges in transforming their business models [40][42] Question: How does management view the impact of trade tensions on the car market? - Management acknowledged some impact from trade tensions but emphasized that the domestic market is largely driven by NEVs, limiting the overall effect on Autohome's business [54][55]

智通财经5月8日电，汽车之家在港交所公告，2025年第一季度净收入总额14.54亿元，同比下降9.7%； 归属于汽车之家的净利润3.57亿元，上年同期归属于汽车之家的净利润3.94亿元，同比下降9.6%。截至 2025年3月31日，公司员工总计4345名，其中包括天天拍车员工1299名。 汽车之家：一季度净收入总额同比下降9.7% ...

BEIJING, May 8, 2025 /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 ended March 31, 2025.First Quarter 2025 Highlights[1] Net revenues in the first quarter of 2025 were RMB1,453.8 million (US$200.3 million), compared to RMB1,609.1 million in the corresponding period of 2024. Net income attributable to Autohome in the first quarter of 2 ...

2022年9月5日，上海浦西外滩，汽车之家空间站全国首店开业。2025年4月22日，上海浦东世博源，全面升级焕新的汽车之家空间站上海店面向来自 全国的投资人揭开了神秘面纱。当天，记者也受邀来到汽车之家空间站上海店体验，店内一系列黑科技设计让人不由感慨：原来买车可以这样好玩。 在汽车之家首席执行官杨嵩看来，上海店焕新的变化，折射出的是汽车之家在将近1000天的汽车新零售探索与创新中沉淀下来的经验。 以"选车省心、买车省钱"为初心 在与空间站投资人见面前，杨嵩接受了《中国汽车报》记者的采访。他坦言，刚在来的路上，脑中如倒带一般回放了汽车之家空间站的发展历程。这 两年多的摸索恰好暗合了老子《道德经》中那句"道生一，一生二，二生三，三生万物"。 "所谓道，是汽车之家布局空间站的缘起，即让消费者'选车省心、买车省钱'，同时持续地降低汽车流通的交易成本，从而促进汽车行业的高效发 展。"杨嵩为记者讲述了汽车之家空间站是如何从这个初心和原点，一步步衍生出"三生万物"的。 杨嵩说，汽车之家基于"选车省心、买车省钱"这8个字，形成了打造一站式O2O车生态的想法。买车毕竟不同于买快消品，因此汽车之家作为全球最 大的汽车互联网平台必 ...

BEIJING, April 24, 2025 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), a leading online destination for automobile consumers in China, today announced that it will report its financial results for the first quarter ended March 31, 2025, before U.S. markets open on May 8 2025. Autohome's management team will host an earnings conference call at 8:00 AM U.S. Eastern Time on Thursday, May 8, 2025 (8:00 PM Beijing Time on the same day). Please register in advance of the con ...

Exhibit 99.1 RECONCILIATION BETWEEN U.S. GAAP AND INTERNATIONAL FINANCIAL REPORTING STANDARDS The consolidated financial statements are prepared in accordance with U.S. GAAP, which differ in certain respects from International Financial Reporting Standards ("IFRS"). The effects of material differences between the consolidated financial statements of the Company prepared under U.S. GAAP and IFRS are as follows: Reconciliation of audited consolidated statements of comprehensive income: | | For the year ended ...

Regulatory Compliance and Risks - The company faces risks related to regulatory approvals on offshore offerings and potential penalties if contractual arrangements with VIEs are deemed non-compliant with PRC regulations[32]. - The company is subject to the Holding Foreign Companies Accountable Act, which could lead to trading prohibitions if audit reports are not from PCAOB-inspected firms for two consecutive years[34]. - The company must comply with cybersecurity laws, including storing personal information within China, or face potential government enforcement actions[39]. - The Overseas Listing Trial Measures require mainland China domestic companies to file with the CSRC within three business days after submitting listing application documents[37]. - The company is subject to restrictions regarding the payment of dividends and the transfer of net assets from its mainland China subsidiaries[42]. - The company faces regulatory risks that could increase compliance costs and impact business operations[78]. - The company faces risks related to compliance with evolving cybersecurity and data privacy regulations, which could lead to significant penalties and operational challenges[96]. - The company is monitoring regulatory developments closely to ensure compliance with data protection laws and mitigate risks associated with potential penalties and operational disruptions[95]. - The company faces uncertainties regarding the interpretation and application of PRC laws, which could adversely affect its business operations[162]. - Any violation of PRC laws by the company or its VIEs could result in severe penalties, including fines and revocation of licenses[163]. - The company may be subject to additional obligations if designated as a "critical information infrastructure operator" under PRC law, which remains uncertain[90]. - The company faces regulatory restrictions on loans and direct investments in mainland China, which may adversely affect liquidity and expansion efforts[177]. - Recent regulatory changes, including SAFE Circulars, have lifted some restrictions on foreign-invested enterprises, but compliance with new regulations remains uncertain[179]. - The PRC government's discretion over business operations could lead to material adverse changes in operations and share value[185]. - The evolving PRC legal system may require the company to adjust its business operations and incur additional compliance costs[188]. - The company faces uncertainties regarding the interpretation and enforcement of new regulatory requirements, potentially affecting its financial condition[202]. Financial Performance - For the year ended December 31, 2024, total revenue reached RMB7,039.6 million, with third-party revenues contributing RMB6,211.6 million[48]. - The total cost and expenses for the year ended December 31, 2024, amounted to RMB6,324.6 million, resulting in a net income of RMB1,681.1 million attributable to Autohome Inc.[48]. - For the year ended December 31, 2023, total revenue was RMB7,184.1 million, with third-party revenues at RMB6,028.8 million[50]. - The total cost and expenses for the year ended December 31, 2023, were RMB6,310.8 million, leading to a net income of RMB1,925.4 million attributable to Autohome Inc.[50]. - For the year ended December 31, 2022, total revenue was RMB6,940.8 million, with third-party revenues at RMB5,743.0 million[53]. - The total cost and expenses for the year ended December 31, 2022, were RMB6,020.8 million, resulting in a net income of RMB1,855.2 million attributable to Autohome Inc.[53]. - In 2024, the top five automaker customers contributed 25.1% of the company's media services revenues, highlighting significant customer concentration risks[98]. - The company incurred sales and marketing expenses of RMB2,988.2 million (US$409.4 million) in 2024, representing 42.4% of total net revenues for that year[105]. - The company recorded goodwill of RMB3,941.8 million (US$540.0 million) as of December 31, 2024, related to acquisitions, with no impairment provisions required during the assessment[109]. - The auto insurance brokerage business generated an insignificant amount of revenue over the past three years, indicating limited financial impact[106]. - The company is subject to seasonal fluctuations in revenue, particularly a slowdown during the Chinese New Year, affecting quarterly performance predictability[112]. - The growth of online advertising in mainland China is crucial for the company's revenue and profitability, and any decline in this sector could materially affect its financial performance[117]. Corporate Structure and VIEs - The company’s corporate structure is subject to risks associated with contractual arrangements with VIEs, which may not provide effective operational control[31]. - The company does not have any equity interests in the VIEs but controls their operations through contractual arrangements[161]. - The company is dependent on VIEs for its internet content services, which are subject to PRC laws and regulations[161]. - The contractual arrangements with VIEs may not provide the same level of control as direct ownership, leading to potential operational risks[165]. - The individual nominee shareholders of the VIEs may have interests that conflict with those of the company, posing risks to operational control[169]. - The company may lose control over VIEs if individual nominee shareholders face personal disputes or bankruptcy, impacting business operations[180]. - The company relies significantly on dividends and other distributions from its mainland China subsidiaries to meet cash and financing requirements, which could be adversely affected by limitations on dividend payments[174]. - Under PRC laws, mainland China subsidiaries can only pay dividends from accumulated profits and must set aside at least 10% of after-tax profits for statutory reserve funds until these reach 50% of registered capital[175]. - Any restrictions on the ability of mainland China subsidiaries to pay dividends could materially limit the company's growth and investment capabilities[176]. Market and Competition - The company faces significant competition in the automotive industry, which may impact market share and operational results[62]. - The company is dependent on mainland China's automotive industry for most of its revenues and future growth, which is subject to various uncertainties[62]. - The company is heavily reliant on mainland China's automotive industry for nearly all revenues and future growth, which is subject to uncertainties including government regulations and health epidemics[67]. - The automotive industry in mainland China faced negative growth for the first time in 28 years in 2018, with new passenger vehicle purchases declining throughout 2018, 2019, and 2020[67]. - The company has established over 150 franchised offline stores across the country, but faces significant competition from various automotive vertical websites and mobile applications[71]. - The company expects to continue growing its user base and business operations, but acknowledges the risk of not achieving the same growth rates as in the past[76]. - The company may not be able to maintain its current level of growth or ensure the success of new business initiatives due to increased competition and changing market conditions[75]. Investments and Acquisitions - The company has invested in TTP Car Inc. to enhance its used automobile-related business, which is critical for future growth[101]. - The company may face challenges in integrating acquisitions, investments, or alliances, which could disrupt operations and negatively impact results[142]. - The company has undertaken significant divestitures, including withdrawing from the offline insurance brokerage business in mainland China in 2021 and dissolving its UK and German subsidiaries in 2023 and 2024 respectively[146]. Taxation and Financial Obligations - The company has six subsidiaries eligible for preferential tax treatments, all recognized as high and new technology enterprises (HNTEs) with a preferential enterprise income tax rate of 15%[226]. - If any subsidiary fails to pass the review to maintain HNTE, key software enterprise (KSE), or software enterprise status, it will lose the corresponding preferential tax treatment[226]. - The State Administration of Taxation (SAT) issued SAT Notice 7, which extends tax jurisdiction to indirect transfers of properties by non-resident enterprises[221]. - SAT Notice 7 requires self-assessment by foreign transferors and transferees regarding PRC tax implications on indirect transfers[223]. - The SAT Circular 37 mandates withholding income tax on equity transfers, with the payer responsible for tax obligations[224]. - The company and its non-resident investors may face tax risks under SAT Circular 37 and SAT Notice 7 if transactions lack reasonable commercial purpose[225]. Operational Challenges - The company is vulnerable to health epidemics and natural disasters, which could severely disrupt operations and adversely affect financial results[155]. - The company has experienced hacking attacks in the past, which, while not materially adverse, pose ongoing risks to operations and reputation[137]. - The company relies on third-party advertising agencies for a significant portion of its accounts receivable, which may affect liquidity and cash flows if these agencies face financial difficulties[116]. - The company has experienced default on payments by asset managers of certain investments, which may lead to financial losses and affect overall business operations[120]. - The company faces risks associated with inaccurate pricing and listing information provided by third parties, which could harm user trust and reduce traffic to its platforms[123]. - The company lacks general third-party business liability or interruption insurance, exposing it to potential substantial costs from uninsured disruptions[154]. Shareholder Relations - Ping An Group owns 47.4% of the total equity interest in the company, significantly influencing corporate decisions[149]. - In 2022, 2023, and 2024, Ping An Group provided services and assets to the company amounting to RMB191.8 million, RMB191.4 million, and RMB209.8 million (US$28.7 million) respectively[150]. - The company provided services to Ping An Group totaling RMB226.5 million, RMB134.4 million, and RMB306.0 million (US$41.9 million) in 2022, 2023, and 2024 respectively[150]. - As of December 31, 2024, the company had cash management products managed by Ping An Group totaling RMB5,185.6 million (US$710.4 million)[151].

Group 1 - The core viewpoint of the article highlights the transformation in the automotive market, where existing car owners are becoming the primary buyers, and brand loyalty is declining due to insufficient operational capabilities of car manufacturers [2][5] - The shift from new customers to existing customers is evident, with the proportion of existing customers purchasing cars rising from 30% in 2016 to 56% in 2023, and expected to reach 60% in 2024 due to trade-in policies [2][4] - The automotive market is transitioning from an incremental growth phase to a stock phase, indicating a need for car manufacturers to adapt their marketing strategies to retain existing customers [2][3] Group 2 - The rapid iteration of vehicles is leading to increased sales but lower profits, with the average sales of new cars projected to reach 2.42 million units in 2024, nearly double that of 2022 [4][7] - The automotive industry is experiencing a decline in profit margins, dropping from 6.2% in 2020 to 4.3% in 2024, despite an increase in vehicle sales from 19.29 million to 22.89 million during the same period [7] - The competition is intensifying, with independent new energy brands experiencing a 12.7% price drop and luxury brands facing a 5% decrease in average prices [6][7] Group 3 - Digitalization is enabling car manufacturers to better understand consumer preferences, with the number of user tags increasing from 20 to 500, allowing for more precise marketing strategies [8][9] - The integration of AI in marketing is crucial for improving conversion rates, with AI algorithms helping to identify high-potential leads and optimize resource allocation [10][11] - The automotive industry is expected to continue its digital transformation, leveraging AI and data-driven strategies to enhance marketing effectiveness and customer engagement [11]

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of Autohome (ATHM), indicating a decline in revenue and net profit for the fiscal year ending December 31, 2024 [1][2] - Autohome's total revenue is reported at 7.04 billion RMB, reflecting a year-on-year decrease of 2.01% [1] - The company's net profit attributable to shareholders is 1.681 billion RMB, showing a year-on-year decline of 13.13% [1] Group 2 - Autohome is recognized as a leading online service platform for automotive consumers in China, aiming to reduce decision-making and transaction costs in the automotive industry through technology [2] - The company provides a variety of content types, including professional and user-generated content, as well as AI-generated content, covering the entire car purchase and usage cycle [2] - Autohome's platform serves as a preferred advertising venue for automotive manufacturers and dealers, enabling them to market their inventory and services to millions of potential online users [2] - The company operates a comprehensive online trading platform called "Car Mall," which facilitates transactions for manufacturers and dealers [2] - Additional value-added services offered by Autohome include automotive finance, insurance, used car trading, and after-sales services [2]