Autohome Announces Cooperation with Baidu to Power Enhanced Auto-Related
BEIJING, June 5, 2014
BEIJING, June 5, 2014 /PRNewswire/ --Autohome Inc.("Autohome" or the
"Company") (NYSE: ATHM), the leading online destination for automobile
consumers in China, today announced that it has been selected as the exclusive
supplier for auto-related content for enhanced search results on PCs powered
by "Aladdin," the open platform operated by Baidu, Inc., the leading Chinese
language Internet search provider. The exclusive cooperation arrangement will
cover a period of 12 months starting from July 1, 2014. Autohome was selected
as the exclusive supplier through a bidding process and the final terms and
conditions of the exclusive cooperation arrangement will be reflected in a
definitive agreement to be entered into between the parties.
Under the arrangement, Autohome will provide a range of auto-related content
from its database of information on more than 16,000 car models to enhance the
results that Baidu provides to its users looking for auto-related information
on PCs. Beginning July 1, 2014, users who search for auto-related keywords
through Baidu, such as car models and auto brands, on PCs will be presented
with dynamic content exclusively provided by Autohome alongside the standard
search results. This content will include information about automobiles such
as model descriptions, pricing information and other useful data for potential
car buyers. Autohome's content will be displayed prominently in a dedicated
section of the search results page powered by Baidu's open platform, Aladdin.
James Qin, chief executive officer of Autohome, stated, "We are delighted to
work with Baidu to provide exclusive auto-related content on PCs on Baidu's
Aladdin platform for the coming year and we look forward to building a winning
cooperation together. We believe that this cooperation will strengthen
Autohome's dominant market position by further extending our existing
leadership across key metrics such as Daily Average Users (DAUs), Page Views
(PVs) and time spent on our site. We expect that this enhanced market
leadership will strengthen our relationships with users, auto manufacturers
and our rapidly expanding dealer network. Furthermore, the cooperation will
enhance customer recognition of the Autohome brand and will enable us to
increase our reach in the quickly-developing Tier 3 and Tier 4 cities in
Mr. Qin continued, "This initiative underlines our stated commitment to
reinvesting in the future of our business, particularly where we see business
opportunities related to sales and marketing, products and technology, and new
business lines. While we will record certain expenses related to this
cooperation, we anticipate that we will be able to maintain our 2014 full year
Autohome Inc.(NYSE: ATHM) is the leading online destination for automobile
consumers inChina. Through its two websites, autohome.com.cnandche168.com,
the Company provides comprehensive, independent and interactive content to
automobile buyers and owners. Autohome.com.cn ranked first
amongChina'sautomotive websites and automotive channels of internet portals
in terms of average daily unique visitors, average daily time spent per user
and average daily page views in 2013, according to iResearch, a third-party
research firm. The Company's ability to reach a large and engaged user base of
automobile consumers has madeAutohomethe preferred platform for automakers
and dealers to conduct their advertising campaigns. Automakers typically
utilize its online advertising services for brand promotion, new model
releases and sales promotions. Its dealer subscription services allow dealers
to market their inventory and services throughAutohome'swebsites, extending
the reach of their physical showrooms to potentially millions of internet
users inChina. For further information, please visitwww.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 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 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; 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. 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
For investor and media inquiries, please contact:
FTI Consulting, Inc.
FTI Consulting, Inc.
SOURCE Autohome Inc.
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