Core Viewpoint - The company reported a steady growth in its third-quarter financial performance, with total revenue reaching 1.77 billion RMB, driven by a 54% year-on-year increase in revenue from new energy brands, and a net profit of 497 million RMB after adjustments [1] Group 1: Financial Performance - Total revenue for Q3 was 1.77 billion RMB, with online marketing and other business income growing by 3.1% year-on-year [1] - Revenue from new energy brands increased by 54% year-on-year, outperforming industry sales growth [1] - Adjusted net profit for the third quarter was 497 million RMB [1] Group 2: Strategic Initiatives - The company is focusing on integrating online and offline services to enhance its ecosystem strategy [1] - Plans to deepen localization and penetrate lower-tier markets while enhancing brand influence and product innovation [1] - Collaboration with Ping An Group aims to leverage offline resources and professional after-sales service capabilities [1] Group 3: Content and User Engagement - The company launched the AH+ content brand and an original content matrix covering over 13 columns, focusing on new cars, reviews, culture, and industry [2] - The "AH-IT" intelligent evaluation system was introduced to address user anxiety in purchasing smart vehicles [2] - A new scene-based image library was released to improve user efficiency in car selection, covering 36 mainstream models [2] Group 4: Marketing and Events - The "818 Global Auto Festival" was upgraded, generating significant engagement with 290 million views and 14.8 billion exposures [4] - Over 500 offline car exhibitions and nearly 2000 single-store events were held, covering around 250 cities [4] - The new retail model "Satellite Plan" has been implemented, with over 50 space stations and satellite stores established [4][5] Group 5: Digital and After-Sales Services - The company launched the "Gather Repair" digital product in collaboration with Ping An, marking its entry into the after-sales market [5] - The "Call Platform" and "Retention Assistant" tools were developed to enhance customer engagement and service efficiency [6] - The overall revenue from data products increased by 8% year-on-year in the first nine months of the year [6] Group 6: ESG and Corporate Responsibility - The company actively engages in carbon reduction initiatives and has received recognition for its social responsibility efforts [7] - Awards include the "2024 Asian Corporate Social Responsibility Award" and the "2024 Best Energy Saving and Carbon Reduction Action Award" [7] - The company continues to focus on enhancing operational efficiency and service capabilities for long-term sustainable growth [8]

Financial Data and Key Metrics Changes - Net revenues for Q3 2024 were RMB 1.77 billion, with Media Services revenues at RMB 326 million, Leads generation services revenue at RMB 831 million, and Online Marketplace and Others revenue at RMB 618 million, reflecting a 3.1% year-over-year increase [27] - Cost of revenue increased to RMB 408 million from RMB 374 million year-over-year, resulting in a gross margin of 77%, down from 80.4% in the same period last year [28] - Operating profit was RMB 83 million, compared to RMB 166 million in Q3 2023, and adjusted net income attributable to Autohome was RMB 497 million, down from RMB 604 million year-over-year [29] Business Line Data and Key Metrics Changes - Revenues from the online marketplace and others increased by 3.1% year-over-year, driven by the growth in the new retail business [10] - Revenues from NEV brands grew by 54% compared to the same period last year, significantly outpacing industry sales growth rates [22] - Revenue from data products increased by 8% year-over-year during the first nine months of 2024 [23] Market Data and Key Metrics Changes - The average mobile DAU increased by 5.6% year-over-year, reaching 72.87 million in September, indicating a strong position in the automotive media vertical [19] - Retail sales of new energy vehicles in September increased by 10.6% from the previous month, with domestic retail penetration of NEVs exceeding 50% for three consecutive months [38] Company Strategy and Development Direction - The company is focused on enhancing its integrated online-to-offline ecosystem strategy, particularly in lower-tier markets, through initiatives like the Hundred Cities, Trade-in for New [9][14] - There is a commitment to driving product innovation and broadening business horizons while leveraging partnerships, particularly with Ping An Group, to enhance competitive advantages [14][47] - The company aims to optimize operational efficiency to support long-term high-quality development [26] Management Comments on Operating Environment and Future Outlook - Management noted that the ongoing price war in the automotive industry has negatively impacted profitability, with the average profit margin of the auto industry at only 4.6% [36] - Despite current challenges, management remains optimistic about the long-term growth potential of the auto market, particularly with the development of the NEV industry and supportive government policies [39] - The used car market is under pressure due to the new car price war, but there are expectations for potential growth in the B2B sector [53] Other Important Information - The company has a strong balance sheet with cash, cash equivalents, and short-term investments of RMB 23.06 billion as of September 30, 2024 [31] - A new share repurchase program was authorized for up to USD 200 million, and a cash dividend of USD 1.15 per ADS was approved, reflecting confidence in business and future developments [32][33] Q&A Session Summary Question: Impact of ongoing price war and trade-in program on the industry and Autohome - Management observed that the price war has eased slightly but continues to affect profitability, with retail sales growth only at 2.2% year-on-year [35][36] Question: Update on the new retail model of NEVs and expansion pace - Management reported over 50 stores in the Autohome space and satellite model, facilitating cost efficiency for OEMs and generating extra revenue for Autohome [41][43] Question: View on the 2025 used car market and shareholder return progress - Management indicated that the used car market remains sluggish due to new car price pressures, but there are plans to explore B2B opportunities [50][53] Question: OEMs' advertising budget outlook and contract renewals with dealers - Management expects OEMs to balance advertising budgets more reasonably next year, with stable contract renewals for lead subscription packages [58][60]

Summary of Autohome's Q3 2024 Earnings Conference Call Company Overview - **Company**: Autohome - **Industry**: Automotive and Online Marketplace Key Points Business Strategy and Performance - Autohome is advancing its integrated online-to-offline ecosystem strategy, focusing on enhancing engagement across the value chain and optimizing business structure [2][3] - The company launched new professional content and product proofing, leading to a 5.6% year-over-year increase in mobile daily active users (DAU), surpassing 70 million for the first time [2][7] - Over 500 offline car shows were successfully held in the first three quarters of 2024, targeting lower-tier markets to provide a one-stop service experience for consumers [2][3] Financial Performance - Net revenues for Q3 2024 were RMB 1.77 billion, with media services revenues at RMB 326 million, lease generation services at RMB 831 million, and online marketplace revenues at RMB 618 million, reflecting a 3.1% year-over-year increase [11][12] - Operating profit decreased to RMB 83 million from RMB 166 million in the same period last year, with adjusted net income at RMB 497 million compared to RMB 604 million [12][13] - Gross margin fell to 77% from 80.4% year-over-year, indicating increased cost pressures [11] Market Dynamics - The ongoing price war in the automotive industry has led to a significant decline in profit margins, with the average profit margin for the auto industry at 4.6%, down from 6.1% for industrial enterprises [14][15] - Retail sales in the first nine months of 2024 increased by only 2.2%, indicating sluggish market conditions despite ongoing price competition [14][15] New Energy Vehicle (NEV) Initiatives - Autohome's satellite plan for NEVs has been implemented, with over 50 space stations and satellite stores established nationwide, facilitating resource sharing and channel support in lower-tier cities [7][8] - The company aims to strengthen its local presence in lower-tier markets and enhance brand influence while adapting to market dynamics [4][8] Digitalization and Innovation - Autohome is leveraging data technology and artificial intelligence to improve operational efficiency and enhance customer experience [3][4] - The introduction of the Autohome AH Plus content matrix and scenario-based vehicle model library aims to provide users with practical guides for vehicle selection [5][6] Shareholder Returns - The Board of Directors approved a cash dividend of US$1.15 per ADS, totaling approximately RMB 1 billion, reflecting confidence in business and commitment to shareholder returns [13][24] - A new share repurchase program was authorized, allowing for the repurchase of up to US$200 million of Autohome's ADS [12][13] Future Outlook - Autohome plans to continue expanding its retail model and explore innovative business models, particularly in collaboration with Ping An Group [19][20] - The company remains optimistic about the long-term growth potential of the Chinese automotive market, despite current challenges [17][24] Additional Insights - The integration of resources with Ping An Group has strengthened Autohome's offerings in financial insurance and after-sales services, enhancing overall service capabilities [20][21] - The second-hand car market is under pressure due to the price war in the new car market, with transaction volumes increasing by only 5.37% year-over-year [22][24]

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].