Core Insights - Citic Lyon's report indicates that Autohome (02518) achieved total revenue of 1.76 billion RMB in Q2 this year, exceeding the bank's expectations by 1% [1] - Media service revenue fell short of expectations but was offset by strong growth in the online market [1] - The management assured the market that the annual dividend of 1.5 billion RMB remains unchanged, resulting in a dividend yield of approximately 6% [1] Revenue and Growth - The report anticipates that media service revenue will recover in Q3 as the price war among automakers gradually eases [1] - Autohome aims to add 500 new stores by the end of the year, which will require additional cost investments [1]

Group 1 - The core viewpoint of the report indicates that Autohome (02518) achieved total revenue of 1.76 billion RMB in Q2 this year, exceeding the bank's expectations by 1% [1] - Media service revenue fell short of expectations but was offset by strong growth in the online market [1] - The management assured the market that the annual dividend of 1.5 billion RMB remains unchanged, resulting in a dividend yield of approximately 6% [1] Group 2 - The report anticipates that media service revenue will recover in Q3 as the price war among car manufacturers gradually eases [1] - Autohome aims to add 500 new stores by the end of the year, which will require additional cost investments [1]

Group 1 - The stock price of Autohome (ATHM) increased by 2.44% to $28.55 per share, with a total market capitalization of $3.421 billion as of March 27 [1] - For the fiscal year ending December 31, 2024, Autohome reported total revenue of 7.04 billion RMB, a year-on-year decrease of 2.01%, and a net profit attributable to shareholders of 1.681 billion RMB, down 13.13% year-on-year [1] Group 2 - Autohome is a leading online service platform for automotive consumers in China, aiming to leverage technology to reduce decision-making and transaction costs in the automotive industry [2] - The company provides a variety of content types, including original professional content (OGC), professional generated content (PGC), user-generated content (UGC), AI-generated content, and a comprehensive vehicle database, covering the entire car purchase and usage cycle [2] - Autohome serves as a preferred platform for automotive manufacturers and dealers to promote advertising campaigns, reaching a large and active consumer user base [2] - The company offers dealer subscription and advertising services, enabling dealers to market their inventory and services to millions of potential online users in China [2] - Autohome operates a full-featured online trading platform called "Car Mall," facilitating transactions for automotive manufacturers and dealers [2] - Additional value-added services provided by the company include automotive finance, insurance, used car trading, and after-sales services through its website and mobile applications [2]