OREANDA-NEWS. Autohome Inc., the leading online destination for automobile consumers in China, today announced its unaudited financial results for the first quarter ended March 31, 2016.

First Quarter 2016 Financial Highlights

  • Net Revenues increased 75.5% year-over-year to RMB1,093.5 million ($169.6 million), exceeding the high end of the Company’s original guidance of RMB1,060 million ($164.4 million).
     
  • Adjusted Net Income increased 49.1% year-over-year to RMB294.4 million ($45.7 million).

First Quarter 2016 Operating Highlights

  • Continued Expansion of Mobile Traffic: In March 2016, the number of average daily unique visitors who accessed the Company’s mobile websites and mobile applications reached 8.8 million and 7.2 million, respectively. Combined, this represents an increase of 65.3% in the total number of average daily unique visitors on mobile platforms compared with March 2015, and an increase of 16.3% compared with December 2015. 
     
  • Strong Media and Leads Generation Value: In the first quarter of 2016, revenues from media services and leads generation services increased by 22.6% and 46.8%, respectively, compared to the corresponding period of 2015.
     
  • Significant Expansion of Transaction Platform: A total of 4,957 new vehicles were sold through Authome’s B2C transaction platform, including both the direct sales and the commission-based business models in the first quarter of 2016.

Mr. James Qin, Chief Executive Officer of Autohome, stated, “We are pleased to report another strong quarter of better-than-expected growth despite seasonality. Our solid operational and financial performance reflects the continued solid execution of our key growth strategies, including expanding our consumer audience and growing our core advertising and leads generation business as well as the emerging transaction marketplace business.  While we continue to optimize these three pillars of business by leveraging our preferred media channels, leading traffic generation, enhanced user engagement, and precise transaction matching, we will concentrate our efforts on introducing expanded and differentiated solutions to further drive our overall performance and reinforce our leadership position in the market.

With a solid start to the year, I am confident in our ability to execute our growth strategies to further reinforce our strengths and competitive advantages as the leading online media and transaction facilitator for automobile consumers in China.”

Mr. Nicholas Chong, Chief Financial Officer, commented, “The increases in both net revenues and net income for the first quarter demonstrates our ability to drive accelerated revenue growth from our diversified businesses and generate consistent profit by leveraging our efficient cost structure. We will continue to strengthen the foundation of our business by focusing on its expansion, operational efficiency and value creation by capturing the large and growing number of opportunities in the market.”