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SOURCE Autohome Inc.
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 China."
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 budget."
About Autohome Inc.
Autohome Inc. (NYSE: ATHM) is the leading online destination for automobile consumers in China. Through its two websites, autohome.com.cn and che168.com, the Company provides comprehensive, independent and interactive content to automobile buyers and owners. Autohome.com.cn ranked first among China's automotive 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 made Autohome the 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 through Autohome's websites, extending the reach of their physical showrooms to potentially millions of internet users in China. For further information, please visit 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 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 law.
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