Autohome to Enter the Hong Kong Stock Market on March 15

According to the Hong Kong Economic Times, Autohome plans to sell 30.3 million shares in Hong Kong for its secondary listing. It plans to issue shares at a maximum of HK 251.8 per share, seeking to raise up to USD 984 million. According to the same source, Autohome will be listed on the Hong Kong market on March 15.

The firm currently has three main revenue sources: advertising services, dealer subscription services and online marketplace and others. As of December 31, 2020, the number of daily active mobile users of Autohome ranked the first among many auto service platforms.

Autohome was founded by Li Xiang, the founder of Li Auto, and then Telstra became a major shareholder. In June 2016, Ping An Insurance invested USD 1.6 billion becoming the major shareholder. Influenced by the business direction of Ping An, the consumer finance business has since become the major performance growth point aside from its media business. In the 2020 financial report, the overall GMV of Autohome reached CNY 510 million, which is five times more compared to the year before. In addition, the consumption loan GMV has a year-on-year increase of 20%.

Online channels have become the major automobile sales platform under the impact of the pandemic, and it also provides new development opportunities for companies. 

According to official data, Autohome's 2020 annual net income reached CNY 8.65 billion, with a year-on-year growth of 2.8%. The attributable net profit increased by 11.5% from CNY 2.87 billion in 2018 to CNY 3.2 billion in 2019 and further increased by 6.4% to CNY 3.405 billion in 2020.