BEIJING, Sept. 4,
2024 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX:
2518) ("Autohome" or the "Company"), the leading online destination
for automobile consumers in China,
today announced that its board of directors (the "Board") has
approved a new share repurchase program (the "New Share Repurchase
Program"), effective from September 4, 2024. Pursuant to the
New Share Repurchase Program, the Company may repurchase up to
US$200 million worth of its
shares (including ADSs) over the next 12 months.
The Company's proposed repurchases may be made from time to time
through open market transactions at prevailing market prices, in
privately negotiated transactions, in block trades and/or through
other legally permissible means, depending on the market conditions
and in accordance with applicable rules and regulations. The Board
will review the authorized share repurchase program periodically,
and may authorize adjustment of its terms and size or suspend or
discontinue the program. The Company plans to fund repurchases from
its existing cash balance.
About Autohome Inc.
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. Autohome operates
its "Autohome Mall," a full-service online transaction platform, to
facilitate transactions for automakers and dealers. 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.
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. 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.
For investor and media inquiries, please contact:
In China:
Autohome Inc.
Investor Relations
Sterling Song
Investor Relations Director
Tel: +86-10-5985-7483
E-mail: ir@autohome.com.cn
Christensen China Limited
Suri Cheng
Tel: +86-185-0060-8364
E-mail: suri.cheng@christensencomms.com
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SOURCE Autohome Inc.