#China #Beijing #Autohome #Yun Chen #CARTECH

Autohome Inc. Announces Leadership and Shareholder Transition

In a significant development, Autohome Inc. (NYSE: ATHM; HKEX: 2518), a prominent online platform catering to automobile consumers in China, has revealed key changes in its leadership and corporate ownership. This transformative move is aimed at steering the company towards a new era of growth and innovation amidst the competitive landscape of the automotive market.

On February 20, 2025, Autohome informed its stakeholders that Yun Chen Capital Cayman, a subsidiary of Ping An, will transfer its controlling stake to CARTECH HOLDING COMPANY, operating under the Haier Group Corporation. This agreement involves the sale of approximately 200,884,012 ordinary shares, equating to around 41.91% of the company's shares, valued at approximately $1.8 billion. The completion of this transfer hinges on meeting necessary regulatory approvals, but initial reactions suggest a smooth transition.

The implications of this transfer are pivotal. Following the sale, Yun Chen will retain 23,916,500 ordinary shares but will no longer hold the controlling interest in Autohome. The directors of the company have stated that this change is not expected to adversely affect Autohome's financial standing or operational capabilities. The strategic move reflects a burgeoning partnership with CARTECH, signaling potential shifts in market focus and operational strategies in the years to come.

In addition to the shareholder transitions, Tao Wu has vacated his role as the Chief Executive Officer (CEO) and executive director of Autohome. His resignation is effective on the same day as the announcement, marking the culmination of a significant tenure. The company expressed profound gratitude toward Mr. Wu for his contributions during his time at the helm.

Taking over the leadership reins is Song Yang, appointed as the new executive director and CEO, also effective February 20, 2025. Mr. Yang brings a wealth of experience, boasting over two decades in the automotive sector, inclusive of notable positions in both China and the U.S. He joined Autohome in October 2021 as the Senior Vice President managing various businesses, including the OEM segment and used car operations. His prior roles included leadership positions at Ford and Borgward, showcasing a robust background poised to shepherd Autohome into its next phase.

Quan Long, Chairman of the Board, expressed enthusiasm regarding Mr. Yang’s appointment, emphasizing his extensive industry knowledge and experience in global markets. Mr. Long noted, “We are excited to welcome Mr. Song Yang as our new CEO. His leadership capabilities and industry insights are anticipated to significantly benefit Autohome's strategic direction.”

As part of Autohome's core mission, the company remains dedicated to leveraging advanced technologies to minimize decision-making and transaction costs for automotive consumers. By integrating user-generated content, professional insights, and advanced AI solutions, Autohome fosters a comprehensive ecosystem for car shoppers, encompassing everything from purchase decisions to post-sale services.

This recent shift at Autohome marks a crucial turning point as it positions itself to embrace new opportunities within the evolving automotive marketplace. With its impending leadership changes and shareholder transition, the company is set to navigate toward enhanced operational efficiencies and explore novel avenues for growth in the years ahead. As industry dynamics continue to change, Autohome’s adaptability may hold the key to sustaining its leadership position in the burgeoning automotive sector.