Autohome Inc. Reports Strong Revenue Growth in Online Marketplace and Others Business

Autohome Inc. (ATHM), the leading online destination for automobile consumers in China, recently announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024. The company reported significant revenue growth in its online marketplace and others business, driven by the expansion of Autohome Space and the growth in NEV business.

Autohome's online marketplace and others business contributed significantly to its overall financial performance in 2024. The revenue from this business segment increased by 35.5% year-over-year in the fourth quarter of 2020 and by 70.0% year-over-year in the full year 2020. This growth was primarily driven by the data products in the online marketplace and others business, which achieved revenue growth of 82.3% year-over-year in the fourth quarter of 2020 and 70.0% year-over-year in 2020. This business segment contributed to 23.2% of total revenues in 2020, compared to 17.7% in 2019.



The expansion of Autohome Space to 20 cities across the country, particularly in mid to lower tier cities, has allowed the company to provide a comprehensive range of high-quality, one-stop automotive service experiences to consumers across the country. This expansion has driven revenue growth and attracted a larger user base. Additionally, the growth in NEV business has contributed to the overall increase in adjusted net income and adjusted net margin. Revenue from NEV brands has increased by 81.6% year-on-year, continuing to outperform industry sales growth rates.



Autohome's strategic investments in new car and used car areas have also driven sustained growth and contributed to the increase in adjusted net income and adjusted net margin in 2024. The company's continuous breakthroughs in AI product technology and large language models have helped dealer customers reduce overall costs and increase efficiency, leading to a 38% year-over-year increase in dealer data revenue for the year.

In conclusion, Autohome Inc. reported strong revenue growth in its online marketplace and others business, driven by the expansion of Autohome Space and the growth in NEV business. The company's strategic investments in new car and used car areas, as well as its breakthroughs in AI product technology and large language models, have contributed to the increase in adjusted net income and adjusted net margin in 2024. Autohome's ability to adapt to changing consumer preferences and provide innovative services has contributed to its success in the market.