Auto Home (02518) Releases 2026 Q3 Financial Report: One-stop Trading Service “Infrastructure Shaping” Multi-business Segment Gains Momentum
The Zhitong Finance App learned that on the evening of November 4, Beijing time, Auto Home (ATHM.US; 02518) disclosed unaudited financial results for the third quarter of 2026. In the current quarter, the company achieved total revenue of RMB 1.31 billion, and adjusted net profit attributable to Auto Home was RMB 253 million. The company continues to solidly promote the construction of a one-stop automotive ecosystem service platform, making many breakthroughs in the fields of content ecology, product tools, new retail transactions, innovative AI applications, and used car business — transaction service capabilities are moving from “single-point pilot” to “network collaboration”. The one-stop transaction service infrastructure has taken shape, and ecological collaboration is on the eve of implementation.
This quarter, competition in the domestic automobile industry continued to intensify, and the marketing budget structure of OEMs continued to be adjusted, and revenue from traditional advertising and dealer lead businesses was under pressure, leading to a year-on-year decline in revenue and adjusted net profit for the current period. Auto Home is transforming from an automotive content platform to a full-link automotive service ecosystem, continuously increasing investment in innovative businesses such as new retail, continuously optimizing products and commercialization capabilities, and building a new sustainable growth curve based on user advantages.
User experience continues to improve, and AI citations are at the top of the list
Use “content+tools” to maintain the first entrance to car selection decisions
This quarter, Auto Home continued to consolidate professional barriers in car selection decision-making with “breaking the circle of content+intensive tool cultivation”: the content side promoted brand rejuvenation and IP breaking the circle, the tool side lowered the decision-making threshold with refined innovation, the user scale increased simultaneously with the voice of AI sources, and the user mentality further deepened.
On the content side, IP breaking goes hand in hand with brand rejuvenation, and content has the potential to directly guide transaction decisions. The company joined hands with Mango Supermedia to create the “818 Global Auto Festival”, using innovative forms such as Taiwanese network linkage, celebrity quiz, and AI digital editing to promote young car content and break the circle. The global exposure of the live broadcast exceeded 1.8 billion. The project opens up multiple business lines such as Auto Home Mall and Cathay, and runs through the “content planting - car purchase service - benefits promote transformation” collaborative link. The annual key IP “China Intelligent Manufacturing Exploration Program”, jointly launched by the Press and Publicity Center of the Ministry of Industry and Information Technology and Auto Home, has been launched in three phases. It transforms hardcore technology into content that can be perceived and discussed by the public, and strengthens the platform's content influence and brand awareness among young users.
On the tool side, the product matrix continues to be cultivated, and the decision threshold has been further lowered. The “Read in One Picture” function was launched in the model library. One map focuses on 8 highlights and 5 scenario-based tools to help users quickly read the core information of the model; a “selection device” was launched for complex pain points of new energy selection to simplify the selection process and lower the decision threshold; AI intelligently reached the decision engine to achieve “thousands of people, a thousand faces” intelligent distribution to accurately match user interests. These refined refinements collaborate with model databases and user reputation matrices to continuously consolidate professional barriers in car selection decision-making.
On the infrastructure side, the number of users has increased steadily, and AI signal source voice has established a new fulcrum. According to QuestMobile data, the average number of daily mobile users of Auto Home reached 79.14 million in September, an increase of 3.4% over the previous year. At the same time, the QuestMobile report indicates that the citation rate of data sources such as Auto Home has topped the list of the six major AI platforms for three consecutive months, with a comprehensive citation rate of 83.2%. This shows that in addition to traditional traffic entrances, Auto Home is establishing a voice for content in AI information distribution scenarios — professional ability to accumulate content and tools, which is being transformed into an advantage in information distribution in the AI era.
New retail builds a closed loop of transactions, and used car exports broke through from 0 to 1
The transformation of a one-stop trading platform towards a period of value realization
Auto Home is speeding up the upgrade from a “watch car, choose a car” information platform to a “watch, buy and use” full-link transaction service platform. In the third quarter, the new retail business formed the backbone network of O2O transactions with online malls and offline stores. The used car business used standardized services and cross-border export platforms to form an extension channel. A closed loop of transactions covering the entire life cycle of users' car purchases has begun to take shape, and value can be expected to be realized.
The new retail sector has completed the systematic construction of four core competency systems to make up for key shortcomings in transaction execution. The first is the ability of the transaction system: build an integrated online and offline transaction platform, open up digital links for supply, customer supply, purchase, sale and storage, and achieve a closed loop of standardized transactions. By the end of the third quarter, Home Mall's “online car purchase” model had covered 38 cities across the country, with more than 1,700 dealers and more than 600 car sales departments. The second is channel delivery capability: Build a unified standard offline store delivery network to lay a solid foundation for large-scale delivery. The third is the ability to cooperate with vehicle sources: deepening collaboration with OEMs, focusing on mainstream NEV model cooperation, and accumulating experience in procurement and joint operation. Fourth, user service capabilities: build an online and offline linked car purchase service system, support rights, car products and marketing activities, and improve value-added service guarantees.
On the offline side, the “Jiajia Good Car” franchise stores have been steadily expanding, with more than 170 stores, with a cumulative total of over 700 units; as the offline fulcrum of the new retail strategy, Jiajia Auto undertakes actual vehicle delivery and after-sales service with “online conduction+offline delivery”, focusing on filling service gaps in low-tier cities and complementing online shopping malls. Online assets and offline channels collaborate in both directions, the network effect of the O2O ecosystem is gradually showing, and the overall trading service system of the platform continues to improve.
The used car sector's domestic standardization business and cross-border export business go hand in hand with two-wheel drive. The domestic full-process car sales service platform was expanded from the initial 2 pilot cities to 6 cities in the third quarter. Through refined regional operation and standardized service systems, transaction efficiency and user satisfaction continued to improve, solidifying the practical foundation for subsequent large-scale nationwide expansion. The cross-border export service platform opens up multi-language online international sites and offline fulfillment networks, and continues to improve the synergy of cross-border transactions; in the third quarter, the average number of vehicles sold online on the platform exceeded 3,000 units per day. Since the first export order was launched in July, the transaction scale has increased month by month, and the business growth potential is steady. Relying on the credibility of brands listed in Hong Kong and New Zealand, the brand trust accumulated by Auto Home in overseas markets continues to be transformed into customer acquisition competitiveness, building a differentiated channel advantage for domestic car sources to go overseas.
Consolidate the core capabilities of AI and create an all-scenario enabling system
Cheese cart manager opens a full link of services for selecting, buying, using, and exchanging
In the field of AI innovation, Auto Home is based on the self-developed Cangjie Auto Industry model to integrate AI capabilities throughout the entire chain of employee efficiency improvement, B-side management, and C-side service, and build a full-scenario AI enabling system of “improving internal efficiency, empowering businesses, and fulfilling contracts with customers”.
On September 5, Auto Home officially released the AI native application “Cheese Car Manager”, which fully covers the entire life cycle link of car selection, purchase, use and sale, and provides online intelligent consulting and offline store service connections. For users, Cheese Car Manager gathers the first-hand consumer experience of nearly 200 million car owners, more than 100 million real reviews, and more than 5 million real reviews to provide a credible reference for car purchase decisions, and provides one-stop services such as discount checks, test drives, transactions, valuation testing, and charging and maintenance. For merchants, the business covers nearly 400 cities, linking more than 30,000 4S stores, 100,000+ used car dealers, and more than 100,000 family car service providers to help dealers and aftercar service providers complete digital business transformation.
The B-side is centered on full-link multi-agent collaborative AI capabilities, penetrating the entire value chain of marketing customer acquisition, lead transformation, and operation management to promote the automotive industry to complete the transition from digital tools to AI-driven operation: stores build digital employees, promote AI from assistance to business implementation and undertake business goals; brand building expert intelligence to connect brands and stores to improve system operation; the industry explores cross-agent intelligent collaboration networks to form a collaborative human-robot industrial ecosystem. In terms of improving internal efficiency, it relies on integrated AI capabilities to achieve digital employees, AI separation, and business capacity orchestration to help merchants and internal operations improve efficiency in both directions.
Conclusions
In the third quarter, Auto Home continued to advance to a one-stop automotive ecosystem service platform. Judging from the progress of this quarter, the collaborative logic of various sectors is becoming more clear, and transaction services are ready to go in a closed loop — content and tools provide a foundation of traffic and trust for transactions and AI products, implementation scenarios and fulfillment networks for new retail and used car businesses, and AI products improve the matching efficiency and user experience of all aspects. At the same time, Auto Home announced a cash dividend plan with a total amount of about 1 billion yuan to effectively give back to its shareholders. Facing the future, Auto Home will continue to consolidate the foundation of the information platform, consolidate traffic and user mentality advantages, vigorously promote the implementation of trading business, and increase the innovative application of AI agents; at the same time, it will adhere to the strategic direction of strengthening long-term competitiveness, maintain a streamlined and efficient cost structure, and create long-term value for users, customers and shareholders with one-stop automotive ecosystem services.