Autohome Inc. Announces US$200 Million New Share Repurchase Program

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].