HONG KONG, JULY 31, 2024/NEWS/-- CHINA'S LEADING AUTOMOTIVE INTERNET SERVICE PLATFORM AUTOMOBILE HOME (NYSE STOCK CODE: ATHM; HKEX CODE: 2518) ANNOUNCES ITS SECOND QUARTER FINANCIAL RESULTS FOR THE YEAR. The company's second-quarter total revenue was RMB1.87 billion, up 2.2% year-on-year. Online marketing and other business revenues continued to grow in double digits, accounting for 33.1%, and strong growth in a number of businesses, including data products, new energy, with revenue growth of more than 15% and close to double. Adjusted net profit of RMB 0.572 billion, the supermarket expects an adjusted net profit margin of 30.6%.

Auto House Party Committee Chairman and CEO Wu Tao said that the overall performance of the company was stable in the second quarter and innovation business continued to grow. In the future, the company will continue to explore new ways of integrating online and offline, driven by user needs, while fully exploiting and capitalizing on the resources and technologies of Binh An Group, actively promoting in-depth cooperation in various areas of the automotive ecosystem and exploring joint development Unlimited opportunities.

New Retail Business Expands Further, Revenue from New Energy Brands Continues to Climb

During the period, the company further expanded its new retail business, increasing its penetration from high line cities to low line cities. In May this year, Car Home Space Station launched the “Satellite Program”, with space stations as its core, laying out satellite stores in the surrounding low-line city, building a “1+N” collaborative ecosystem, deepening service coverage to a wider area. At present, Car Home Space Station has covered 28 cities across the country and is testing water satellite store mode in 5 cities, forming a tight sales service network, achieving full penetration from the core to the region. At the same time, the Car Home used car business uses the space station as an off-line service hub, and together with Tiananmen and Binh An Integrated Repair Plant, provides service protection, perfecting the replacement business process and stimulating consumer demand. In the second quarter, the company's revenue from new energy brands grew close to 100% year-on-year, continuing to beat industry sales growth.

In recent years, with the increase in car retention and consumers' demands on car quality and performance, a large number of old vehicles have needed to be replaced and replaced, and the demand for replacement has grown significantly. Economic development and consumption upgrades in urban and rural areas on the Three Lines and below have increased demand for automobiles, becoming an important market for automotive companies to compete in. To that end, with the layout of the National Space Station, as well as the large customer base and offline network of Paysafe, Car House actively explores the submersible market and the needs of replacement groups, to actively create a transaction scene.

With 70 million users, 80% of whom are owners aged five or over, Ping'an Insurance Company exploits a wealth of switching opportunities through fine-tuning operations to accurately identify its target audience. In addition, Motor Home Alliance Paishan Insurance jointly organized the “Baicheng Renewal Car Festival”, bringing more flagship models and used car replacement services of mainstream new energy brands to the regional consumer market, connecting 2810 PEA insurance network, 0.96 million agents and 0.022 million professional service personnel, to counteract the sinking market Full coverage and precise reach. More than 100 disembarkation shows were attended by consumers, with over 0.012 million units delivered on the ground, and estimated to drive car spending of more than $1.8 billion.

Launch of digital switchboard, fully empowering distributors to increase efficiency

To help a wide range of dealer customers streamline operations and scientific management, AutoHome has launched a centralized operations system and a digital business management platform. Improve conversion efficiency with centralized teams to quickly and efficiently process leads, leverage centralized outcall systems to quickly match users to the right merchants on demand; provide reseller partners with a powerful, structured number through infrastructure build-ups, digital tooling, and fine-grained operational management Support the platform to help achieve business management efficiencies.

In the digital realm, Car Home launched Smart Alliances, leveraging model algorithms to refine user tags to help dealer customers more accurately select target users, determine their intent to change cars, and drive a significant increase in store rates; Smart Drive combines software hardware and AI quality testing capabilities to solve test drives The pain point of opaque information provides dealer customers with digital management tools for test-driving the entire process, helping dealers form a data loop of offline service. AutomoHome also efficiently connects and co-operates with Paysan Insurance's downstream services team to fully exploit dealer needs and increase its reach to low-end customers, driving revenue growth. In the second quarter, the company's overall data product revenue grew by more than 15% year-over-year.

Continuously cultivating user content and significantly increasing user traffic

Car Home continues to cultivate user content, innovating content from both Pro and Cross-Car categories, and expanding content formats such as live streams, short videos, to create a comprehensive, diverse content matrix. As of now, the 8 major IPs have accumulated over 0.86 billion total network exposures. The layout of premium content has led to a steady increase in traffic, with QuestMobile data showing that Car Home had 67.91 million daily mobile users in June, up 8.3% from the same period last year.

In the field of professional reviews, the content dimension has been further enhanced by adding directional reviews for hybrid, new energy, and fuel vehicles; pan-car content has been created including 8 IP columns such as New Car Debut, Top10 Ratings, and New Car Debut brings together the latest and most popular new cars at the fastest speed Delivering the most professional test report that demonstrates the allure of the new car in a comprehensive, multi-dimensional way. Top10 Review provides a hard-core test of the ten most explosive hybrid SUVs on the market, analysing four dimensions from energy consumption, active safety, performance and comfort.

For user shopping pain points, Car Home created a content play covering the “pre and mid” period of new car launches, from exclusive 3D model guesswork in advance, to mid-term in-depth interpretation, to later customized reviews, effectively extending the exposure window of core new car sales points to help B-side customers Effectively disseminate product value while helping C-side users make quick shopping decisions.

Deepening ESG practice, rated ESG by an international authority on ESG

While focusing on business development, Car House actively practices ESG philosophy to promote CSR. Recently, the international authoritative index agency MSCI (Ming Sheng) raised the ESG rating of automotive houses from “B” to “BB”. At the China Automobile Forum held this year, Automobile House also successfully selected the “China Automotive Enterprise Sustainability Practice Case 2024”.

As an important part of the automotive industry chain and a key force driving the digital transformation of the industry, Car Home will continue to pursue long-term development, continuously upgrading iterative products and technologies to provide customers with more personalized and intelligent services and solutions. The automaker will also actively explore and seize opportunities in new business areas to revitalize the company's development in order to generate long-term and stable positive returns for shareholders.

More about Motor Home

CAR HOUSE (NYSE STOCK CODE: ATHM; HKEX CODE: 2518) IS CHINA'S LEADING ONLINE SERVICE PLATFORM FOR AUTOMOTIVE CONSUMERS. QuestMobile data shows that Car Homes reached 67.91 million mobile daily users in June 2024, up 8.3% from the same period in 2023. The company's mission is to enhance the shopping and driving experience of Chinese car consumers. CAR HOUSE PROVIDES AUTOMOTIVE CONSUMERS WITH ORIGINAL CONTENT (OGC), PROFESSIONAL CREATIVE CONTENT (PGC), USER CREATED CONTENT (UGC), AI CREATION CONTENT, A COMPREHENSIVE CAR MODEL LIBRARY, AND EXTENSIVE CAR PUBLISHING INFORMATION COVERING THE ENTIRE PURCHASE AND USE CYCLE. Because of its ability to reach a large and active user base of automotive consumers, Car Home has become the preferred platform for advertising campaigns for automakers and dealers. In addition, our dealer subscription and advertising services enable dealers to market their inventory and services through the Car Home platform, expand their physical showrooms to millions of potential network users in China, and gain sales leads. We provide sales leads, data analytics and marketing services to help automakers and dealers improve efficiency and facilitate transactions. Car Home operates its “Car Shop”, a full-featured online trading platform that helps automakers and dealers facilitate transactions. In addition, we also provide other value-added services through its website and mobile applications, including auto finance, auto insurance, used car trading and after-sales services.

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