2022-02-24 21:06Financial Data and Key Metrics Changes - Total revenue for 2021 was RMB 7.24 billion, with new business contributing 30.9% of total revenue, up from 23.2% in 2020, and new business revenue grew 11.6% year-over-year [8][29] - Adjusted net profit for the year was RMB 2.58 billion, with an adjusted net margin of 35.7% [8][29] - Q4 2021 net revenues were RMB 1.69 billion, with operating profit of RMB 177 million, down from RMB 947 million in Q4 2020 [27][29] Business Line Data and Key Metrics Changes - Media services revenue for 2021 was RMB 2.01 billion, leads generation services revenue was RMB 2.99 billion, and online marketplace and others revenue increased by 11.6% year-over-year to RMB 2.24 billion [29] - In Q4 2021, media services revenue was RMB 373 million, leads generation services revenue was RMB 778 million, and online marketplace and others revenue was RMB 543 million [25] Market Data and Key Metrics Changes - Autohome's mobile DAU reached 46.9 million in December 2021, up 11.4% year-over-year, surpassing the total DAU of the second and third largest players combined [13] - Revenue from NEV brands more than doubled year-over-year, capturing 60% market share in the media vertical among mainstream NEV players [20] Company Strategy and Development Direction - The company aims to integrate with Ping An's auto ecosystem to enhance its service offerings and expand its customer base [9][22] - Autohome is focusing on expanding video content and engaging younger users to build a solid foundation for its second growth trajectory [10][15] Management's Comments on Operating Environment and Future Outlook - The management expects the traditional auto market to recover in 2022, which will positively impact the traditional business [34] - The NEV market is projected to grow significantly, with sales growth expected to be around 70% [33][43] Other Important Information - Autohome launched a USD 200 million share repurchase program and maintained a dividend payout of around 20% of net income for the year [9][30] - The company has developed a comprehensive strategy for its used car business, focusing on digitalization and enhancing transaction efficiency [21][44] Q&A Session Summary Question: What is the outlook for the auto industry in the coming quarters? - The Chinese auto market is expected to grow by about 5% in 2022, with NEV sales projected to reach over 5.5 million units, indicating a market penetration rate of 25% [33] Question: What is the outlook for the used car market and the company's goals for 2022? - The used car market is expected to grow by 20% in 2022, with a focus on revenue growth outpacing the market average and achieving breakeven [37][39] Question: Will there be ongoing investments in digital transformation or cost control measures? - The company plans to increase efficiency and compress operating costs while investing in innovative new business models and R&D [41][42]