Autohome Investor Day: Strategic Upgrading of Auto Eco Fosters New Growth

Rhea-AI Summary

Autohome Inc. held its 2021 Investor Day on September 15 in Beijing, where Chairman and CEO Quan Long outlined strategic upgrades for the company amid the evolving Chinese auto market. Emphasizing the impending growth of the second-hand vehicle sector, Long indicated that innovation is crucial for stakeholders. Autohome reported a 16% year-over-year increase in daily active users, reaching 44.1 million in Q1 2021, solidifying its position as the leading internet platform in the auto space. The company plans to leverage partnerships, particularly with Ping An, to enhance auto services and achieve diverse revenue streams.

Positive

• Daily active users on the Autohome app reached 44.1 million in Q1 2021, a 16% increase year-over-year.
• Autohome remains the top internet platform in the auto field, exceeding competitors' DAUs combined.
• Plans to enhance auto services through strategic partnerships, particularly with Ping An.
• Targeting 50% of new car sales to OEM customers across China.

Negative

• None.

BEIJING, Sept. 16, 2021 /PRNewswire/ -- Autohome Inc. (2518.HK/ATHM.US) held its Investor Day 2021 in Beijing on September 15, 2021. Investors and analysts from Morgan Stanley, Credit Suisse, CITIC Securities, China Securities, Harvest Fund and other well-known international and domestic investment institutions, as well as journalists from various financial and economic media outlets, participated in this event.

Autohome's Chairman and CEO, Mr. Quan Long, presented the Company's strategic upgrade initiatives and played a leading role in exchanges between guests and the management.

Long Quan pointed out that the Chinese auto market has experienced three stages, moving from explosive growth to stable growth to structural adjustment. It will soon see the rise of second-hand vehicles, a market which will develop steadily after a long exploration and preparation phase. Given this new trend, participants in China's auto ecosystem cannot capitalize on this huge new opportunity by using only their previous experience. Consumers, original equipment manufacturers (OEMs), and upstream and downstream industrial chains require urgent action and innovation to meet their needs. Therefore, Autohome, having completed its media-, platform- and intelligence-oriented transformation, has planned a strategic upgrade for the auto ecosystem: Autohome + Ping An dual ecology, which will provide comprehensive services for customers, OEMs (B1) and all types of players (B2) in the auto ecosystem.

Autohome realized complete coverage of consumer groups "seeing vehicles-buying vehicles-using vehicles" in 2020. In the first quarter of 2021, daily active users on Autohome's mobile app reached 44.1 million, up 16% year-over-year. Autohome's DAU exceeded that of the second- and third-place players in the industry combined, establishing Autohome as the top Internet platform in the auto field. Autohome will build a whole-chain service system using innovative methods to reach more consumers and cover more scenarios.

For OEMs (B1), Autohome balances foundation-laying and seeking new growth. While maintaining its No. 1 share ranking in the vertical media market, it has also expanded all aspects of its new business.

To meet requirements from all types of players (B2) in the auto ecology, Autohome will be an empowerer, contributing to mutually beneficial development with its partners.

Collaborative advantages cultivate new opportunities for new growth

Long Quan said that two factors ensure the success of the strategic upgrade. First, as the world's largest Internet auto platform, Autohome has accumulated customers for 16 years, and played a leading role in the industry regardless of user coverage, user stickiness, or vertical content and specialty. Second, Ping An Insurance utilizes cutting-edge science and technology to cultivate its auto ecology. As a critical part of this ecology, Autohome fully capitalizes on collaborative advantages with Ping An to jointly construct and improve the auto service industry.

Long Quan said, "We are fully prepared to face the challenges of the competitive market and strategic upgrading. Our next step will be to redouble our development efforts." Autohome will seek scaled user growth including those seeing cars, buying cars and using cars, and create the most powerful auto media campaign in China. Autohome will also pursue more diverse revenues and target 50% new car sales to customers of OEMs across the country. Finally, Autohome will remain strong in digital marketing, second-hand auto transactions, and auto aftermarket with its industry partners, while contributing to the revival and transformation of China's auto industry.

In the future, guided and empowered by Ping An's "financial + technical" strategy and advantages, Autohome will continue to provide consumers with high-quality auto purchase and use services, as well as inject vitality into China's flourishing auto industry development. Autohome will accelerate the integration and digitalization of the auto industry and promote healthy and sustainable development throughout the auto ecosystem.

View original content:https://www.prnewswire.com/news-releases/autohome-investor-day-strategic-upgrading-of-auto-eco-fosters-new-growth-301378619.html

SOURCE Autohome

FAQ

What are the key points from Autohome's Investor Day on September 15, 2021?

Autohome's Investor Day highlighted strategic upgrades in response to the evolving auto market, with a focus on the second-hand vehicle sector and partnerships for enhanced services.

How many daily active users does Autohome have as of Q1 2021?

As of Q1 2021, Autohome reported 44.1 million daily active users, marking a 16% increase year-over-year.

What is Autohome's strategy for future growth?

Autohome aims to achieve diverse revenue streams and leverage partnerships, particularly with Ping An, to enhance services in the auto ecosystem.

How does Autohome plan to capitalize on the second-hand vehicle market?

Autohome plans to innovate and expand services to meet the demands of the growing second-hand vehicle market in China.