Autohome Inc. (NYSE:ATHM) Q2 2020 Earnings Conference Call - Final Transcript

Aug 25, 2020 • 08:00 am ET

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Autohome Inc. (NYSE:ATHM) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by for Autohome's Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. If you have any objections, you may disconnect at this time.

It is now my pleasure to introduce your host, Anita Chen, Autohome's IR Director. Ms. Chen, you may begin.

Executive
Anita Chen

Thank you, operator. Hello, everyone, and welcome to Autohome's second quarter 2020 earnings conference call. Earlier today, Autohome distributed its earnings press release, and you may find a copy on the company's website at www.autohome.com.cn.

On today's call, we have Chairman and CEO, Mr. Min Lu; Co-President, Mr. Haifeng Shao; Co-President, Mr. Jingyu Zhang; and CFO, Mr. Jun Zou. After the prepared remarks, Mr. Lu, Mr. Shao, Mr. Zhang and Mr. Zou will be available to answer your questions.

Before we begin, please note that the discussion today will contain forward-looking statements made under Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in our public filings with the Securities and Exchange Commission. Autohome does not undertake any obligation to update any forward-looking statements, except as required under applicable law.

The earnings press release in this call also includes discussion of current unaudited non-GAAP financial measures. Our press release contains a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and is available on Autohome's IR website.

As a reminder, this conference is being recorded. In addition, a live and archived webcast of this earnings conference call will also be available on Autohome's IR website.

I will now turn the call over to Autohome's Chairman and CEO, Mr. Lu.

Executive
Min LU

Thank you, Anita. Hello, everyone. Thank you for joining us today. I'm pleased to report a solid quarter, with total revenue of RMB2.31 billion. Revenue from new initiatives increased by 38% year-over-year and contributed to 22% of total revenue, driven by strong growth from data products as well as the auto financing and the transaction business. Adjusted net margin increased year-over-year to 38.1%.

In the second quarter, we made a steady stride in building an open and diversified automotive ecosystem with our unique product metrics and ongoing innovations.

June traffic saw the number of DAUs who accessed our mobile websites, primary app, and the mini app increased to 38 million, a slight improvement compared with the same period of last year and up to 20% compared to the March 2020.

Regarding live stream, in the second quarter, over 40 brands delivered 93 live stream programs on our platform, with average viewership reaching 420,000 for each program. We also integrated live stream into large activities, such as the 818 Global Super Auto Show and provide the training courses to dealers.

Our road