BEIJING, Feb. 22, 2017 (GLOBE NEWSWIRE) -- Autohome Inc. (“Autohome” or the “Company”) (NYSE:ATHM), a leading online destination for automobile consumers in China, today announced that on February 22, 2017, Yun Chen Capital Cayman, an affiliate of Ping An Group, completed a transaction to acquire approximately 6.5% of the total issued shares in the Company from Telstra Holdings Pty Limited. Immediately after the transaction, Yun Chen Capital Cayman increased its beneficial ownership in the Company to approximately 53.9% of the total issued shares in the Company. Concurrently, Mr. Paul Tyler and Mr. Yong Sun have tendered their resignations from the board of directors of the Company, with effect from February 22, 2017.
Mr. Min Lu, Chairman and Chief Executive Officer of Autohome commented, “Ping An has continuously supported our long-term vision and is demonstrating its confidence in our strategies and future potential by increasing its stake in Autohome. I’d also like to thank Paul and Yong for their services to the Company on the board of directors and wish them all the best in the future endeavors.”
About Autohome Inc.
Autohome Inc. (NYSE:ATHM) is the leading online destination for automobile consumers in China. Its mission is to enhance the car-buying and ownership experience for auto consumers in China. Autohome provides professionally produced and user-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. As a transaction-centric company, Autohome operates its “Autohome Mall,” a full-service online transaction platform, to facilitate transactions for automakers and dealers. Further, through its website 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 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 business outlook, 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 and changes in circumstances that are difficult to predict. Autohome cautions you therefore against relying on any of these forward-looking statements. 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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