Autohome Inc. (NYSE: ATHM; HKEX: 2518) (“Autohome” or the “Company”), the leading online destination for automobile consumers in China, today announced its unaudited financial results for the three months ended September 30, 2025.
Third Quarter 2025Highlights[1]
— Net revenues in the third quarter of 2025 were RMB1,778.1 million (US$249.8 million), compared to RMB1,774.5 million in the corresponding period of 2024.
— Net income attributable to Autohome in the third quarter of 2025 was RMB436.6 million (US$61.3 million), compared to RMB441.3 million in the corresponding period of 2024, while net income attributable to ordinary shareholders in the third quarter of 2025 was RMB419.4 million (US$58.9 million), compared to RMB425.7 million in the corresponding period of 2024.
— Adjusted net income attributable to Autohome (Non-GAAP)[2] in the third quarter of 2025 was RMB406.9 million (US$57.2 million), compared to RMB497.2 million in the corresponding period of 2024.
— Share repurchase: As of October 31, 2025, the Company had repurchased 5,483,238 American depositary shares (“ADSs”) for a total cost of approximately US$145.9 million.
— Cash dividend: The Company's board of directors has approved a cash dividend of US$1.20 per ADS (or US$0.30 per ordinary share) payable in U.S. dollars (the “Dividend”) to holders of ADSs and ordinary shares of record as of the close of business on December 31, 2025. The aggregate amount of the Dividend will be approximately RMB1 billion and is expected to be paid to holders of ordinary shares and ADSs of the Company on or around February 12, 2026 and February 19, 2026, respectively. Including this Dividend, together with the previously approved cash dividend of RMB0.5 billion declared on September 30, 2025, the Company has declared a total cash dividends of approximately RMB1.5 billion for the year 2025.
Mr. ChiLiu, ChairmanoftheBoardof Directors andChief Executive Officer of Autohome, stated, “In the third quarter, we continued to advance our AI and O2O strategies. We significantly strengthened the integration of AI technologies with our products, fostering business innovation while enhancing both user experience and customer operational efficiency. Furthermore, we steadily improved our O2O platform by integrating online and offline resources, optimizing the end-to-end user experience, and building a comprehensive ecosystem spanning from traffic acquisition to transaction completion and after-sales service. A notable milestone was the soft launch of Autohome Mall in September, which marked significant progress in our O2O strategy and further improves our new retail business model. Looking ahead, we will continue exploring synergies between Autohome and CARtech to propel Autohome's development to the next level.”
Mr. Craig Yan Zeng, Chief Financial Officer of Autohome, added, “We achieved positive results in content diversification, supported by our professional coverage of international auto shows and an enriched interactive ecosystem featuring a diverse creator matrix centered on the automotive vertical. These efforts contributed to our continued user growth, with QuestMobile data showing our average number of mobile daily active users growingby 5.1% year-over-year to reach 76.56million in September.Meanwhile, our online marketplace and others revenues increased by 32.1% year-over-year in the third quarter, driven by the robust performance of our new retail business. Through continuous innovation in both products and business models, we are committed to building a more efficient automotive ecosystem service system, creating sustained value for the industry and supporting Autohome's long-term stable growth.”
Unaudited Third Quarter 2025 Financial Results
Net Revenues
Net revenues in the third quarter of 2025 were RMB1,778.1million (US$249.8 million), compared to RMB1,774.5 million in the corresponding period of 2024.
— Media services revenues were RMB298.0 million (US$41.9 million) in the third quarter of 2025, compared to RMB326.0 million in the corresponding period of 2024.
— Leads generation services revenues were RMB663.7 million (US$93.2 million) in the third quarter of 2025, compared to RMB830.7 million in the corresponding period of 2024. The decline was primarily due to the decrease in the number of paying dealers.
— Online marketplace and others revenues were RMB816.4 million (US$114.7 million) in the third quarter of 2025, compared to RMB617.8 million in the corresponding period of 2024.
Cost of Revenues
Cost of revenues was RMB646.0 million (US$90.7 million) in the third quarter of 2025, compared to RMB407.7 million in the corresponding period of 2024, primarily due to higher transaction costs associated with the Company's innovative business in lower-tier cities. Share-based compensation expense included in cost of revenues in the third quarter of 2025 was RMB5.2 million (US$0.7 million), compared to RMB3.1 million in the corresponding period of 2024.
Operating Expenses
Operating expenses were RMB1,024.5 million (US$143.9 million) in the third quarter of 2025, compared to RMB1,352.2 million in the corresponding period of 2024.
— Sales and marketing expenses were RMB620.5 million (US$87.2 million) in the third quarter of 2025, compared to RMB876.5 million in the corresponding period of 2024, primarily due to a decrease in marketing and promotional expenses. Share-based compensation expenses included in sales and marketing expenses in the third quarter of 2025 were RMB19.0 million (US$2.7 million), compared to RMB15.2 million in the corresponding period of 2024.
— General and administrative expenses were RMB125.4 million (US$17.6 million) in the third quarter of 2025, compared to RMB136.5 million in the corresponding period of 2024. Share-based compensation expenses included in general and administrative expenses in the third quarter of 2025 were RMB21.0 million (US$2.9 million), compared to RMB15.2 million in the corresponding period of 2024.
— Product development expenses were RMB278.6 million (US$39.1 million) in the third quarter of 2025, compared to RMB339.2 million in the corresponding period of 2024, primarily due to a decrease in personnel-related expenses. Share-based compensation expenses included in product development expenses in the third quarter of 2025 were RMB29.5 million (US$4.1 million), compared to RMB27.3 million in the corresponding period of 2024.
Operating Profit
Operating profit was RMB147.0 million (US$20.7 million) in the third quarter of 2025, compared to RMB82.6 million in the corresponding period of 2024.
Income Tax Expense/Benefit
Income tax expense was RMB18.4 million (US$2.6 million) in the thirdquarter of 2025, compared to income tax benefit of RMB139.0 million in the corresponding period of 2024. The income tax benefit was primarily attributable to the prior-year tax filing adjustments, which was mainly benefit from preferential income tax rates and tax holidays for certain subsidiaries in the PRC.
Net Income Attributable to Autohome
Net income attributable to Autohome was RMB436.6 million (US$61.3 million) in the third quarter of 2025, compared to RMB441.3 million in the corresponding period of 2024.
Net Income Attributable to OrdinaryShareholdersand Earnings per Share/ADS
Net income attributable to ordinary shareholders was RMB419.4 million (US$58.9 million) in the third quarter of 2025, compared to RMB425.7 million in the corresponding period of 2024. Basic and diluted earnings per share (“EPS”) were RMB0.89 (US$0.13) and RMB0.89 (US$0.13), respectively, in the third quarter of 2025, compared to basic and diluted EPS of RMB0.88 and RMB0.87, respectively, in the corresponding period of 2024. Basic and diluted earnings per ADS were RMB3.58 (US$0.50) and RMB3.56 (US$0.50), respectively, in the third quarter of 2025, compared to basic and diluted earnings per ADS of RMB3.50 and RMB3.49, respectively, in the corresponding period of 2024.
Adjusted Net Income Attributable to Autohome(Non-GAAP) and Non-GAAP EPS/ADS
Adjusted net income attributable to Autohome (Non-GAAP) was RMB406.9 million (US$57.2 million) in the third quarter of 2025, compared to RMB497.2 million in the corresponding period of 2024. Non-GAAP basic and diluted EPS were RMB0.87 (US$0.12) and RMB0.86 (US$0.12), respectively, in the third quarter of 2025, compared to non-GAAP basic and diluted EPS of RMB1.02 and RMB1.02, respectively, in the corresponding period of 2024. Non-GAAP basic and diluted earnings per ADS were RMB3.47 (US$0.49) and RMB3.45 (US$0.48), respectively, in the third quarter of 2025, compared to non-GAAP basic and diluted earnings per ADS of RMB4.09 and RMB4.08, respectively, in the corresponding period of 2024.
Balance Sheet and Cash Flow
As of September 30, 2025, the Company had cash and cash equivalents and short-term investments of RMB21.89 billion (US$3.08 billion). Net cash provided by operating activities in the third quarter of 2025 was RMB66.6 million (US$9.4 million).
Cash Dividend
The Company's board of directors has approved the Dividend ofUS$1.20 per ADS (or US$0.30 per ordinary share) payable in U.S. dollars to holders of ADSs and ordinary shares of record as of the close of business onDecember 31, 2025,New York Time andBeijing/Hong Kong Time, respectively. The aggregate amount of the Dividend will be approximatelyRMB1 billion.For holders of ordinary shares, in order to qualify for the Dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East,Wanchai,Hong Kongno later than4:30 p.m.onDecember 31, 2025(Beijing/Hong Kong Time).The Dividend is expected to be paid to holders of ordinary shares and ADSs of the Company (through the depositary bank and subject to the terms of the deposit agreement) on or around February 12, 2026 and February 19, 2026, respectively.
Employees
The Company had 4,259 employees as of September 30, 2025, including 1,206 employees from TTP Car, Inc.
Conference Call Information
The Company will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on Thursday, November 6, 2025 (8:00 p.m. Beijing Time on the same day).
Please register in advance of the conference call using the registration link provided below. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.
Registration Link: https://register-conf.media-server.com/register/BId6bf2fb502a4415887553b9e6e54f36a
Please use the conference access information to join the call 10 minutes before the call is scheduled to begin.
Additionally, a live and archived webcast of the conference call will be available at https://ir.autohome.com.cn and a replay of the webcast will be available following the session.
About Autohome
Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automobile consumers in China. Its mission is to relentlessly reduce auto industry decision-making and transaction costs driven by advanced technology. Autohome provides occupationally generated content, professionally generated content, user-generated content, and AI-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 their advertising campaigns. Further, the Company's dealer subscription and advertising services allow 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 with improving their efficiency and facilitating transactions. Further, through its websites and mobile applications, it also provides other value-added services, including auto financing, auto insurance, used car transactions, and aftermarket services. For further information, please visit https://www.autohome.com.cn/.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Among other things, Autohome's business outlook, Autohome's strategic and operational plans and quotations from management in this announcement contain forward-looking statements. Autohome may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Autohome's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Autohome's goals and strategies; Autohome's future business development, results of operations and financial condition; the expected growth of the online automobile advertising market in China; Autohome's ability to attract and retain users and advertisers and further enhance its brand recognition; Autohome's expectations regarding demand for and market acceptance of its products and services; competition in the online automobile advertising industry; relevant government policies and regulatory environment of China; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Autohome's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Autohome does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Use of Non-GAAP Financial Measures
To supplement net income presented in accordance with U.S. GAAP, we use Adjusted Net Income attributable to Autohome, Non-GAAP basic and diluted EPS and earnings per ADS, Adjusted net margin andAdjusted EBITDA as non-GAAP financial measures. We define Adjusted Net Income attributable to Autohome as net income attributable to Autohome excluding share-based compensation expenses, amortization of intangible assets resulting from business acquisition,investment loss relating to non-operating impact of a write-down of the initial investment in a financial product, andloss/(gain) pickup of equity method investments, with all the reconciliation items adjusted for related income tax effects. We define non-GAAP basic and diluted EPS as Adjusted Net Income attributable to Autohome divided by the basic and diluted weighted average number of ordinary shares. We define non-GAAP basic and diluted earnings per ADS as Adjusted Net Income attributable to Autohome divided by the basic and diluted weighted average number of ADSs. We define Adjusted net margin as Adjusted Net Income attributable to Autohome divided by total net revenues. We define Adjusted EBITDA as net income attributable to Autohome before income tax expense, depreciation expenses of property and equipment, amortization expenses of intangible assets and share-based compensation expenses. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance, in addition to net income prepared in accordance with U.S. GAAP. We believe these non-GAAP financial measures are important to help investors understand our operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess our core operating results, as they exclude certain non-cash charges or items that are non-operating in nature. The use of the above non-GAAP financial measures has certain limitations as they excluded certain items that have been and will continue to be incurred in the future, but such items should be considered in the overall evaluation of our results. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of non-GAAP and GAAP Results” set forth at the end of this press release.
For investor and media inquiries, please contact:
Autohome Inc. Sterling Song Investor Relations Director Tel: +86-10-5985-7483 E-mail: ir@autohome.com.cn
ChristensenChinaLimited Suri Cheng Tel: +86-185-0060-8364 E-mail: suri.cheng@christensencomms.com
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