Just when the market was excited about the potential recovery in China’s economy in 2020 at the beginning of the year, the coronavirus outbreak hit China and manufacturers were negatively impacted. Car sales were down in January and are likely to be worse in February, March and into 2Q20. Several OEMs released their depressing January sales data. Even though we expect ATHM’s 4Q19 revenue to be in line with consensus and margins are likely to be better as the company’s spending may be lower than ……

ATHM will report 3Q19 results on November 5th before the markets open with a 7am EST conference call. It is not an easy environment in 2H2019, as the auto market in China has continued its downward trend, worse than expected. As one of the leading online lead generation platforms for auto sales, ATHM is coping with the weak market and it spent additional marketing dollars to help dealers as well as OEMs to get rid of inventories and to promote the sales of new cars. It is inevitable to have rela……

ATHM will report 2Q19 results on August 7th before the markets open with an 8am EST conference call. ATHM’s fundamentals are likely to be impacted by the weaker consumer spending in the auto sector as well as the new National Emission Standard (Guo 6). The number of paying dealers did not bounce back in 2Q19 like it used to in previous years. ……

ATHM will report 4Q18 results on February 26th before the markets open with a 7am EST conference call. Based on our data and calculations, we believe Autohome’s 4Q18 revenue is likely to be better than consensus and our estimate at RMB2,122M driven by the marketing and lead generation businesses. However, also based on our data, we do believe weak seasonality in 1Q19 is likely to be weaker than before due to the macro slow down; and ATHM is likely to experience the same weaker situation.……

ATHM will report 3Q18 results on November 12th before the markets open with an 8am EST conference call. Based on our data and calculations, we believe Autohome’s 3Q18 revenue is likely to be better than consensus and our revenue estimate driven by both the marketing and lead generation businesses. ……

ATHM will report 1Q18 results on May 8th before the markets open with an 8am EST conference call. Ever since ATHM refocused on its core business and renewed its strategy to enable its partners to do business better, its core business has grown rapidly and taken market share away from its peers. In 1Q18, this trend continued and showed healthy growth in both media services and leads generation services. ……

ATHM will report 4Q17 results on Wednesday, March 7th before the markets open with a 7am EST conference call. The company’s dealer business continues its strong momentum by reaching a new high in January 2018 following record number of dealers in 4Q17, and ATHM is taking more market share. ……

ATHM is taking more market share in terms of paying dealers. After 3Q17’s high growth, ATHM's paying dealers reached a new high in 4Q17. As China is switching from internet/virtual economy to real economy, the close relationship with offline dealers can enable ATHM to expand its business into new areas, such as big data market intelligence and auto financing facilitation. ……

While the number of paying dealers as a percentage of registered dealers seems high, ATHM can still enjoy high growth and take more market share. As China is switching from an internet or virtual economy to a real economy, the close relationship with offline dealers can enable ATHM to expand its business into many new areas, such as big data market intelligence and auto financing facilitation. ……

ATHM will report 3Q17 results on November 7th before the markets open with a 7am EST conference call. We are expecting the company to report revenue better than consensus based on our data and calculations. ……

Based on our data andcalculations, we believe ATHM is likely to report 3Q17 revenue higher thanconsensus. ……

November 1 – November 30, 2015 Operating Data Highlights:Data in this report is extracted from publicly available sources and processed with our proprietary methodology. Please contact us for detailed information.•Registered and paying dealers increased for BITA in November – According to our proprietary data, BITA’s registered dealers grew to 26.1K (up 7.9% Y/Y and 0.7% M/M) in November 2015 from 25.9K in October 2015. The paying dealers of BITA increased to 19.0K (up 9.2% Y/Y and 1.4% M/M) in ……

November 1 – November 30, 2015 Operating Data Highlights:Data in this report is extracted from publicly available sources and processed with our proprietary methodology. Please contact us for detailed information.•Registered and paying dealers increased for ATHM in November – According to our proprietary data, the registered dealers of ATHM increased to 23.1K (up 5% Y/Y and 3% M/M) in November 2015 from 22.4K in October 2015 and paying dealers of ATHM increased to 18.8K (up 19% Y/Y and 2% M/M) f……

•Registered and paying dealers increased for ATHM in 3Q15 – According to our proprietary data, the registered dealers of ATHM increased to 22.8K in September from 21.7K in August and paying dealers of ATHM increased to 19.0K in September from 18.1K in August (Figure 1). For 3Q15, ATHM had 19.6K unique paying dealers representing Y/Y growth at 34% and Q/Q growth at 5% (Figure 2). In terms of the paying ratio, it steadily went up to 80.4% in 3Q15 compared with 76.3% in 2Q15 (Figure 3). ……

•Steady growth in paying dealers for both ATHM and BITA - According to our proprietary data, total registered dealers for 2Q15 were stable at around 23K and 25K for ATHM and BITA, respectively. In June, ATHM’s dealer subscriptions reached 18.4K from 17.3K in May, vs. BITA at 18.1K from 18.2K in May (Figure 1). In 2Q15, the total number of paying dealers for ATHM reached 53.3K from 51.9K in 1Q15 and BITA reached 54.5K from 53K last quarter.……

Subscribing dealers increased slightly in September, around 16.3K and 15.7K for ATHM and BITA, respectively – According to our proprietary data, ATHM achieved 16.3K subscribers in September, which exceeded BITA at 15.7K. The increase in subscribers for ATHM was faster the increase for BITA. ATHM’s subscribers increased at a month-on-month growth rate of 7% while BITA only increased 3% in September (Figure 1).……

Data in this report is extracted from publicly available sources and processed with our proprietary methodology.The number of new car dealers reached the same level for ATHM and BITA – In July, ATHM’s dealer subscriptions reached 15.9K, exceeding that of BITA (Figure 1) for the first time in its operating history. Even though the number of subscribing dealers decreased slightly to 15.3K in August, it is at a similar level to BITA, according to our proprietary data. ……