2021-08-25 18:23Financial Data and Key Metrics Changes - Total revenues for Q2 2021 were RMB1.94 billion, with adjusted net margin rising 2.7 percentage points year over year to 40.8% [6][7][18] - Media service revenue was RMB600 million, leads generation service revenue was RMB744 million, and online marketplace revenue increased by 10% year over year to RMB594 million [16] - Gross margin decreased to 86.5% from 88.5% year over year [17] Business Line Data and Key Metrics Changes - Online marketplace and others business contributed 30.7% to total revenue, up from 23.4% in the same period last year [6] - Data products revenue increased by 47.1% year over year, driven by higher contributions from OEM data products [7] - Revenues from new energy vehicle (NEV) brands surged 238% year over year [7][12] Market Data and Key Metrics Changes - The production and sales of new EVs in May decreased by 2.7% and 1.7% year over year, with further declines of 13.7% and 11.1% respectively in subsequent months [8] - The used car market in China is experiencing expanding trading volume, indicating a mixed performance across different segments [9][15] Company Strategy and Development Direction - The company is focusing on improving user experience and implementing hierarchical management for B-end customers to provide high-value derivatives [9] - A dedicated new energy business department has been established to explore market opportunities and address industry challenges [12] - The company plans to announce a strategic upgrade plan at the upcoming Investor Day on September 15 [14] Management Comments on Operating Environment and Future Outlook - Management anticipates that the auto industry will gradually recover from current challenges, with long-term growth trends remaining unchanged [15] - The company expects single-digit growth in auto sales for the year, impacted by supply chain issues and rising costs [21] Other Important Information - The company achieved breakeven at the operating level for TTP in June, marking a significant milestone [7][13] - The average daily active users (DAU) reached 44.1 million, representing a 16% year-over-year increase [10] Q&A Session Summary Question: Auto industry outlook - Management noted that the auto market saw a sharp drop in Q2 due to chip shortages and rising costs, predicting single-digit growth for the year [20][21] Question: Regulatory environment impact - Management highlighted the chaotic nature of the used car market and the potential for profitability in C2B and B2B models, while emphasizing the need for trust and transparency [23][24] Question: Competition in the auto vertical - Management stated that competition is welcomed as it drives industry development, and emphasized their leading position in traffic and market share [26][27] Question: Advertising budgets of automakers - Management indicated that automakers' advertising budgets are closely tied to sales volume and profit targets, which may be under pressure [30] Question: User growth strategy - Management outlined strategies to expand user base, focusing on lower-tier cities and attracting younger users [35] Question: Data products outlook - Management confirmed robust growth in data products and plans to enhance their contribution to total revenue [37][38] Question: Blue-sky plan impact - Management reported a 10% increase in lead quality following the implementation of the Blue-sky plan, which aims to enhance data protection and lead quality [42]