Net revenues amounted to RMB7.24 billion
HONG KONG, April 27, 2022 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today released its 2021 annual report. Net revenues amounted to RMB7.24 billion in 2021. Adjusted net income attributable to ordinary shareholders amounted to RMB2.58 billion in 2021 with an adjusted net margin maintaining a consistently high level at at 35.7%.
The automotive industry in China has been negatively impacted by the COVID-19 outbreak of in the past year with production and sales declining due to epidemic control and lockdown measures. The decline was primarily due to decrease in average revenue per automaker advertiser as customers adjusted advertising budgets due to an ongoing global chip shortage and elevated pricing of raw materials.
However, given digitalization trends across the industry, Autohome has focused on technological development and research. The company has followed a user-centric strategy for system architecture and developed a robust and scalable technology platform driven by AI, big data and cloud technologies. As a result, revenue from new businesses grew by 11.6% with its contribution to the total revenue increasing from 23.2% in 2020 to 30.9%.
Autohome's cash and cash equivalents, restricted cash, current and short-term investments totaled RMB20.8 billion at the end of 2021.
About Autohome
Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automobile consumers in China. According to QuestMobile, the company ranked first in the industry with 67.72 million monthly active users in September 2021. Its mission is to enhance the car-buying and ownership experience for auto consumers in China. Autohome provides professionally produced and user-generated content, a comprehensive automobile library and extensive automobile listing information to automobile consumers covering the entire car purchase and ownership cycle.
The ability to reach a large and engaged user base of automobile consumers has made Autohome a preferred platform for automakers and dealers to conduct advertising campaigns. Further, the Company's dealer subscription and advertising services allows dealers to market their inventory and services through Autohome's platform extending the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them.
The Company offers sales leads, data analysis and marketing services to assist automakers and dealers improving their efficiency and facilitating transactions. As a transaction-centric company, Autohome operates "Autohome Mall," a full-service online transaction platform facilitating transactions for automakers and dealers. Further, through its website and mobile applications, it also provides other value-added services including auto financing, auto insurance, used car transactions and aftermarket services.
For more information, please visit our website: http://ir.autohome.com.cn/
