Autohome launches $400 million share repurchase program
Auto trading services provider Autohome Inc. (ATHM.US; 2518.HK) on Tuesday announced its board has authorized a new $400 million share repurchase program to support the company’s stock. The program took effect on July 28, and will run through the next 12 months.
The company pointed out it has been repurchasing its shares in the open market over the last few months. It said it will fund the latest plan through its existing cash balance, which totaled about 1.4 billion yuan ($207 million) at the end of March. The company also had 17 billion yuan in short-term investments at the end of March.
It announced the buyback as the company and others from China’s auto sector suffer through one of the industry’s worst downturns in years. Domestic car sales plunged 20.2% year-on-year in the first half of 2026 to 8.7 million units. As that happened, Autohome’s revenue fell 27.6% in the first quarter of this year to 1.05 billion yuan from 1.45 billion yuan a year earlier. Its profit for the period plunged 87% to 44.3 million yuan from 340.5 million yuan.
Autohome’s New York-listed shares rose 7.7% to close at $23.01 on Tuesday. But the stock is still down 18.1% over the last 52 weeks.
By Doug Young
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