Autohome Inc. Announces Unaudited Fourth Quarter and Full Year 2025 Financial Results and US$200 Million Share Repurchase Program

BEIJING, March 5, 2026 /PRNewswire/ -- 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 and full year ended December 31, 2025.

Fourth Quarter 2025 Highlights [1]

[1] The reporting currency of the Company is Renminbi ("RMB"). For readers' convenience, certain amounts throughout the release are presented in US dollars ("US$"). Unless otherwise noted, all conversions from RMB to US$ are translated at the noon buying rate of US$1.00 to RMB6.9931 on December 31, 2025, in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

[2] For more information on this and other non-GAAP financial measures, please see the section captioned "Use of Non-GAAP Financial Measures" and the tables captioned "Unaudited Reconciliations of Non-GAAP and GAAP Results" set forth at the end of this release.

Full Year 2025 Highlights1

Mr. Chi Liu, Chairman of the Board of Directors and Chief Executive Officer of Autohome, stated, "2025 was a pivotal year in our evolution, transforming from an automotive information platform into a comprehensive automotive service ecosystem. Facing a dynamic industry landscape, our focus was on driving two core initiatives. On the content front, we continued to strengthen the development of high-quality content while enhancing our creator ecosystem and expanding new media distribution capabilities. On the service front, we accelerated the development of fully integrated online-to-offline services to create a more efficient and convenient end-to-end automotive service ecosystem for users and industry partners. Throughout this transformation, we are leveraging AI as a core engine to drive product innovation and optimize operations. Moving forward, we remain committed to improving the user experience, continuously enhancing our service and transaction ecosystem, and driving high-quality and sustainable development of Autohome."

Mr. Craig Yan Zeng, Chief Financial Officer of Autohome, added, "Over the past year, we continued to build our content ecosystem by expanding user reach through emerging media channels. Our Autohome Media MCN now includes over 500 top-tier creators across diverse fields, broadening our engagement across user groups. On the transaction service side, Autohome Mall, which launched in the second half of 2025, got off to a stable start, demonstrating a positive development trajectory. Driven by the robust performance of our new retail business, our online marketplace and others revenues increased by 8.8% year-over-year in 2025. Looking ahead, we will continue to innovate and explore new business models to deliver long-term value to our shareholders."

Unaudited Fourth Quarter 2025 Financial Results

Net Revenues

Net revenues in the fourth quarter of 2025 were RMB1,462.0 million (US$209.1 million), compared to RMB1,783.4 million in the corresponding period of 2024.

Cost of Revenues

Cost of revenues was RMB318.9 million (US$45.6 million) in the fourth quarter of 2025, compared to RMB428.6 million in the corresponding period of 2024. Share-based compensation expense included in cost of revenues in the fourth quarter of 2025 was RMB3.8 million (US$0.5 million), compared to RMB2.2 million in the corresponding period of 2024.

Operating Expenses

Operating expenses were RMB1,111.5 million (US$158.9 million) in the fourth quarter of 2025, compared to RMB1,177.0 million in the corresponding period of 2024.

Operating Profit

Operating profit was RMB92.3 million (US$13.2 million) in the fourth quarter of 2025, compared to RMB232.4 million in the corresponding period of 2024.

Income Tax Expense

Income tax expense was RMB6.4 million (US$0.9 million) in the fourth quarter of 2025, compared to income tax expense of RMB31.4 million in the corresponding period of 2024.

Net Income Attributable to Autohome

Net income attributable to Autohome was RMB233.9 million (US$33.4 million) in the fourth quarter of 2025, compared to RMB320.5 million in the corresponding period of 2024.

Net Income Attributable to Ordinary Shareholders and Earnings per Share/ADS

Net income attributable to ordinary shareholders was RMB226.4 million (US$32.4 million) in the fourth quarter of 2025, compared to RMB304.4 million in the corresponding period of 2024. Basic and diluted earnings per share ("EPS") were RMB0.48 (US$0.07) and RMB0.48 (US$0.07), respectively, in the fourth quarter of 2025, compared to basic and diluted EPS of RMB0.63 and RMB0.62, respectively, in the corresponding period of 2024. Basic and diluted earnings per ADS were RMB1.94 (US$0.28) and RMB1.93 (US$0.28), respectively, in the fourth quarter of 2025, compared to basic and diluted earnings per ADS of RMB2.51 and RMB2.50, 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 RMB303.7 million (US$43.4 million) in the fourth quarter of 2025, compared to RMB486.5 million in the corresponding period of 2024. Non-GAAP basic and diluted EPS were RMB0.65 (US$0.09) and RMB0.65 (US$0.09), respectively, in the fourth quarter of 2025, compared to non-GAAP basic and diluted EPS of RMB1.00 and RMB1.00, respectively, in the corresponding period of 2024. Non-GAAP basic and diluted earnings per ADS were RMB2.60 (US$0.37) and RMB2.59 (US$0.37), respectively, in the fourth quarter of 2025, compared to non-GAAP basic and diluted earnings per ADS of RMB4.02 and RMB3.99, respectively, in the corresponding period of 2024.

Unaudited Full Year 2025 Financial Results

Net Revenues

Net revenues in 2025 were RMB6,452.0 million (US$922.6 million), compared to RMB7,039.6 million in 2024.

Cost of Revenues

Cost of revenues was RMB1,783.8 million (US$255.1 million) in 2025, compared to RMB1,483.2 million in 2024, primarily due to higher transaction costs associated with the Company's new retail business in lower-tier cities. Share-based compensation expense included in cost of revenues was RMB14.8 million (US$2.1 million) in 2025, compared to RMB8.1 million in 2024.

Operating Expenses

Operating expenses were RMB4,100.4 million (US$586.4 million) in 2025, compared to RMB4,841.4 million in 2024.

Operating Profit

Operating profit was RMB769.3 million (US$110.0 million) in 2025, compared to RMB1,003.5 million in 2024.

Income Tax Expense

Income tax expense was RMB141.7 million (US$20.3 million) in 2025, compared to an income tax expense of RMB63.0 million in 2024. The increase was primarily attributable to the prior-year tax filing adjustments, and less benefits 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 RMB1,442.8 million (US$206.3 million) in 2025, compared to RMB1,681.1 million in 2024.

Net Income attributable to Ordinary Shareholders and Earnings per Share/ADS

Net income attributable to ordinary shareholders was RMB1,385.1 million (US$198.1 million) in 2025, compared to RMB1,619.6 million in 2024. Basic and diluted EPS were RMB2.95 (US$0.42) and RMB2.93 (US$0.42), respectively, in 2025 as compared to basic and diluted EPS of RMB3.34 and RMB3.33, respectively, in 2024. Basic and diluted earnings per ADS were RMB11.78 (US$1.69) and RMB11.74 (US$1.68), respectively, in 2025 as compared to basic and diluted earnings per ADS of RMB13.36 and RMB13.31, respectively, in 2024.

Adjusted Net Income attributable to Autohome (Non-GAAP) and Non-GAAP Earnings per Share/ADS

Adjusted net income attributable to Autohome (Non-GAAP) was RMB1,607.0 million (US$229.8 million) in 2025, compared to RMB2,050.0 million in 2024. Non-GAAP basic and diluted EPS were RMB3.42 (US$0.49) and RMB3.40 (US$0.49), respectively, in 2025 as compared to non-GAAP basic and diluted EPS of RMB4.23 and RMB4.21, respectively, in 2024. Non-GAAP basic and diluted earnings per ADS were RMB13.67 (US$1.95) and RMB13.62 (US$1.95), respectively, in 2025 as compared to non-GAAP basic and diluted earnings per ADS of RMB16.91 and RMB16.85, respectively, in 2024.

Balance Sheet and Cash Flow

As of December 31, 2025, the Company had cash and cash equivalents, short-term investments and long-term financial products of RMB21.36 billion (US$3.05 billion). Net cash provided by operating activities in 2025 was RMB889.5 million (US$127.2 million).

Employees

The Company had 4,242 employees as of December 31, 2025, including 1,197 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, March 5, 2026 (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 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/BIdfc55c5793964417869b4d3b671bd935

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 and Adjusted 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, share of results of equity method investments, and non-recurring employee severance costs, 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 fourth 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: [email protected]

Christensen China Limited Suri Cheng

Tel: +86-185-0060-8364

E-mail: [email protected]

AUTOHOME INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA

(Amount in thousands, except share and per share / per ADS data)

For three months ended December 31,

For year ended December 31,

2024

2025

2024

2025

RMB

US$

RMB

US$

Net revenues:

Media services

436,819

333,817

47,735

1,523,075

1,153,419

164,937

Leads generation services

758,443

667,839

95,500

3,135,885

2,709,235

387,415

Online marketplace and others

588,174

460,342

65,828

2,380,627

2,589,376

370,276

Total net revenues

1,783,436

1,461,998

209,063

7,039,587

6,452,030

922,628

Cost of revenues

(428,559)

(318,927)

(45,606)

(1,483,220)

(1,783,831)

(255,084)

Gross profit

1,354,877

1,143,071

163,457

5,556,367

4,668,199

667,544

Operating expenses:

Sales and marketing expenses

(717,812)

(738,569)

(105,614)

(2,988,169)

(2,532,667)

(362,167)

General and administrative

expenses

(131,168)

(114,964)

(16,440)

(534,809)

(504,013)

(72,072)

Product development expenses

(327,987)

(257,969)

(36,889)

(1,318,443)

(1,063,746)

(152,114)

Total operating expenses

(1,176,967)

(1,111,502)

(158,943)

(4,841,421)

(4,100,426)

(586,353)

Other operating income, net

54,498

60,690

8,679

288,551

201,514

28,816

Operating profit

232,408

92,259

13,193

1,003,497

769,287

110,007

Interest and investment income,

net

189,062

155,802

22,279

791,905

659,810

94,352

Share of results of equity

method investments

(77,389)

(17,957)

(2,568)

(109,094)

102,770

14,695

Income before income taxes

344,081

230,104

32,904

1,686,308

1,531,867

219,054

Income tax expense

(31,375)

(6,430)

(919)

(62,959)

(141,745)

(20,269)

Net income

312,706

223,674

31,985

1,623,349

1,390,122

198,785

Net loss attributable to

noncontrolling interests

7,817

10,219

1,461

57,774

52,708

7,537

Net income attributable to

Autohome

320,523

233,893

33,446

1,681,123

1,442,830

206,322

Accretion of mezzanine equity

(44,006)

(48,057)

(6,872)

(172,596)

(189,661)

(27,121)

Accretion attributable to

noncontrolling interests

27,895

40,573

5,802

111,035

131,964

18,870

Net income attributable to

ordinary shareholders

304,412

226,409

32,376

1,619,562

1,385,133

198,071

Earnings per share

attributable to ordinary

shareholders

Basic

0.63

0.48

0.07

3.34

2.95

0.42

Diluted

0.62

0.48

0.07

3.33

2.93

0.42

Earnings per ADS attributable

to ordinary shareholders

(one ADS equals for four ordinary shares)

Basic

2.51

1.94

0.28

13.36

11.78

1.69

Diluted

2.50

1.93

0.28

13.31

11.74

1.68

Weighted average shares used to compute

earnings per share attributable to ordinary

shareholders:

Basic

484,428,433

467,419,423

484,945,912

470,186,664

Diluted

487,443,601

469,612,367

486,552,724

472,096,864

AUTOHOME INC.

UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS

(Amount in thousands, except share and per share / per ADS data)

For three months ended December 31,

For year ended December 31,

2024

2025

2024

2025

RMB

US$

RMB

US$

Net income attributable to Autohome

320,523

233,893

33,446

1,681,123

1,442,830

206,322

Plus: income tax expense

32,716

7,770

1,111

68,321

147,105

21,036

Plus: depreciation of property and

equipment

27,019

28,091

4,017

120,830

108,107

15,459

Plus: amortization of intangible assets

9,645

9,595

1,372

38,595

38,406

5,492

EBITDA

389,903

279,349

39,946

1,908,869

1,736,448

248,309

Plus: share-based compensation

expenses

41,743

46,435

6,640

192,024

218,974

31,313

Adjusted EBITDA

431,646

325,784

46,586

2,100,893

1,955,422

279,622

Net income attributable to Autohome

320,523

233,893

33,446

1,681,123

1,442,830

206,322

Plus: amortization of intangible assets

resulting from business acquisition

9,583

1,370

38,332

5,481

Plus: share-based compensation

expenses

41,743

46,435

6,640

192,024

218,974

31,313

Plus: investment loss arising from one of

financial products [3]

620

Plus: share of results of equity method

investments

77,389

17,957

2,568

109,094

(102,770)

(14,696)

Plus: non-recurring employee severance

costs [4]

60,847

Plus: tax effects of the adjustments

(23,565)

(4,217)

(603)

(31,992)

9,683

1,385

Adjusted net income attributable to

Autohome

486,520

303,651

43,421

2,050,048

1,607,049

229,805

Net income attributable to Autohome

320,523

233,893

33,446

1,681,123

1,442,830

206,322

Net margin

18.0 %

16.0 %

23.9 %

22.4 %

Adjusted net income attributable to

Autohome

486,520

303,651

43,421

2,050,048

1,607,049

229,805

Adjusted net margin

27.3 %

20.8 %

29.1 %

24.9 %

Non-GAAP earnings per share

Basic

1.00

0.65

0.09

4.23

3.42

0.49

Diluted

1.00

0.65

0.09

4.21

3.40

0.49

Non-GAAP earnings per ADS (one

ADS equals for four ordinary shares)

Basic

4.02

2.60

0.37

16.91

13.67

1.95

Diluted

3.99

2.59

0.37

16.85

13.62

1.95

Weighted average shares used to

compute non-GAAP earnings per share:

Basic

484,428,433

467,419,423

484,945,912

470,186,664

Diluted

487,443,601

469,612,367

486,552,724

472,096,864

[3] It represents the loss of an investment with fair value below its initial investment, which was recognized at "interest and investment

income, net". The impact was considered to be not directly related to the Company's operating activities.

[4] It represents the non-recurring employee severance costs associated with the optimization to the Company's organizational structure in

the fourth quarter of 2024.

AUTOHOME INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET

(Amount in thousands, except as noted)

As of December 31,

2024

2025

RMB

US$

ASSETS

Current assets

Cash and cash equivalents

1,693,597

2,175,493

311,091

Restricted cash

88,515

74,424

10,642

Short-term investments

21,621,992

17,063,633

2,440,067

Accounts receivable, net

1,358,849

1,521,347

217,550

Amounts due from related parties, current

63,957

43,599

6,235

Prepaid expenses and other current assets

336,941

308,733

44,148

Total current assets

25,163,851

21,187,229

3,029,733

Non-current assets

Restricted cash, non-current

5,000

715

Property and equipment, net

204,049

191,063

27,322

Goodwill and intangible assets, net

4,069,637

3,995,489

571,347

Long-term equity investments

339,247

442,017

63,208

Other long-term investments

2,124,783

303,840

Deferred tax assets

308,246

262,622

37,554

Amounts due from related parties, non-current

3,521

9,709

1,388

Other non-current assets

128,074

90,612

12,957

Total non-current assets

5,057,774

7,121,295

1,018,331

Total assets

30,221,625

28,308,524

4,048,064

LIABILITIES AND EQUITY

Current liabilities

Accrued expenses and other payables

2,931,869

2,192,496

313,523

Advance from customers

106,276

98,083

14,026

Deferred revenue

276,894

170,836

24,429

Income tax payable

185,976

82,000

11,726

Amounts due to related parties

38,250

13,739

1,965

Dividends payable

990,529

976,382

139,621

Total current liabilities

4,529,794

3,533,536

505,290

Non-current liabilities

Other liabilities

23,103

21,544

3,079

Deferred tax liabilities

468,078

458,266

65,531

Total non-current liabilities

491,181

479,810

68,610

Total liabilities

5,020,975

4,013,346

573,900

MEZZANINE EQUITY

Convertible redeemable noncontrolling interests

1,931,529

2,121,191

303,326

EQUITY

Total Autohome shareholders' equity

23,951,737

23,041,328

3,294,866

Noncontrolling interests

(682,616)

(867,341)

(124,028)

Total equity

23,269,121

22,173,987

3,170,838

Total liabilities, mezzanine equity and equity

30,221,625

28,308,524

4,048,064

SOURCE Autohome Inc.