Operator
Ladies and gentlemen, thank you for standing by for Otto Holmes' second quarter and interim 2026 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow management's prepare remarks. As a reminder, this conference call is being recorded. If you have any objections, please disconnect at this time. A live and archive webcast of today's call will be available on Autohome's IR website. It is now my pleasure to introduce your host, Sterling Song, Autohome's IR director. Mr. Song, please go ahead.
Thank you, operator. Hello, everyone, and welcome to Autohome's second quarter and interim 2026 earnings conference Earlier today, Autohome distributed its earnings release, which can be found on the company's our website at ir.autohome.com.cn. Joining me on today's call is our Chief Financial Officer, Ms. Kuid Yanzeng. Management will go through the prepared remarks first, which will be followed by a Q&A session where they will be available to answer all your questions. Before we begin, please note that today's discussion contains forward-looking statements made under the safe harbor provision of the U.S. Private Securities Education Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to defer materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in our public filing with the U.S. Securities and Exchange Commission and Hong Kong South Exchange, Autohome undertakes no obligation to update any forward-looking statements except as required under ethical law. Please also note that Autohome's earnings press list and today's conference call include discussions of certain unaudited non-GAAP financial measures. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures can be found in our earnings release. I will now turn the call over to Autohome CFO Ms. Craig Yen Zeng for opening remarks. Ms. Zeng, please go ahead.
Hello everyone, this is Craig Zeng, Chief Financial Officer of Autohome.
Thank you for joining our earnings conference call today. 第二季度,我们的创新业务持续推进落地,推动了汽车之家向一站式汽车生态服务平台的平稳升级 新零售业务领域在授权经销商模式启动试运营,并扩展到更多城市的基础上 我们推出了线下加盟连锁品牌加加好车,进一步拓展线下服务网络 此外,二手车的全球化交易布局也在稳步推进中
7月份,跨境出口服务平台完成了首单交易 为之家未来拓展服务能力积累了宝贵经验 In the second quarter, our innovative business continued to make steady progress driving auto-home upgrade towards a comprehensive automotive service ecosystem For our new retail business, with the authorized dealer model in pilot operations and expanding into more cities, we launched the offline franchise chain brand, Autohom Good Car, further expanding our offline service network. In addition, our global expansion into used car trading is advancing steadily. Our cross-border export platform completed its first transaction in July, providing valuable experience to further expand our service capabilities. We also made major strides in AI, particularly in cutting-edge AI agent technology. In early July, we unveiled our proprietary intelligent agent product, Chief Car Butler, and opened it for public data as the automotive industry's first standalone agent product. It represents not only a pioneering exploration of intelligent applications, but also key milestone in enriching our product portfolio and establishing a differentiated competitive edge for us.
Thank you very much. and our performance of 7000,000. We have set up the Mercedes-Benz channel. We have set up the Mercedes-Benz channel for 200 types of Mercedes-Benz. We have set up the Mercedes-Benz channel for the Mercedes-Benz channel.
Specifically, in the second quarter, we made solid progress across content offerings, productivity capabilities and traffic alliances. On content, in May, we launched our annual IP, China Intelligent Manufacturing Exploration Plan, jointly created with the News and Publicity Center of the Ministry of Industry and Information Technology. Six episodes will be released throughout the year, covering exciting technological trends including the low-attitude industry, intelligent cockpits, intelligent driving, and embodied AI. The premier episode focused on flying cars, combining immersive visits to the front lines of intelligent manufacturing with a fresh, innovative, user-oriented storytelling perspective to make cutting-edge technologies more relatable and engaging for younger users. This series also marks our first major content initiative following Autohome's brand refresh. After its launch, the program sparked lively discussion on social media, was covered by over 20 leading media outlets, and generated over 70 million views across various platforms. On the product side, we launched our intelligent driving channel, which systematically profiles the intelligent driving capabilities of nearly 200 mainstream models and provides easy comparisons to help users understand differences across models and choose cars efficiently. In addition, we continue to advance collaboration across our multi-platform, multi-scenario traffic ecosystem. A notable example was our partnership with Alipay in June, under which our mini program became the exclusive provider of comprehensive automotive services for Alipay's AutoLive channel, offering differentiated content to match the varied needs of first-time buyers, repeat buyers, and those upgrading their vehicles. According to Quest Mobile, in June, our daily active users steadily increased year-over-year, reaching 76.5 minutes.
70天累计成交突破1000台,受到了经销商和用户的良好反馈。 基于试点城市的经验,二季度,我们将该模式复制到苏州、济南和石家庄三城, 逐步扩大华北和华东的授权网络覆盖。 同时,针对低线城市,六月末,我们推出了线下加盟连锁品牌家家好车, 聚焦填补下沉市场的服务空白, 通过精准导流 输出标准化运营管理体系 及轻量化配套资源支持 帮助低线城市经销商门店 实现规模化成长 目前 家家好车门店 落地门店已超百家 未来我们将持续 以汽车之家APP 为线上货客的核心 联动线下家家好车 加盟门店和授权经销商 承接实车交付 以标准化服务
In the new energy vehicle sector, in late April, we launched a pilot online car purchase model in Shenzhen and Xi'an in partnership with authorized dealers. Under this model, local partners' dealerships posted competitive pricing on the mall, enabling consumers to select a vehicle and place a deposit online, and then complete the contract signing and take delivery offline. During this pilot period, over 400 dealers joined across these two cities, offering more than 1,000 models, and over 1,000 transactions were completed within 70 days, receiving positive feedback from both our dealer partners and the users. Based on the experience gained from the pilot cities in the second quarter, we replicated this model to three additional cities, Suzhou, Jinan, and Shijiazhuang, sadly broadening our network coverage in northern and eastern China. At the same time, to address the service gap in low-tier cities, we launched our offline franchise chain brand, Autohome Good Car, at the end of June, with a focus on the underserved low-tier cities. Through precise traffic redirection and standardized operating and management systems and streamlined resource support systems, we help dealerships in low-tier cities achieve scalable growth. At present, over 100 franchised stores started Autohome Good Car. Going forward, the Autohome app will remain the core of our online customer acquisition efforts, while offline, auto home goods car franchisees and authorized dealer stores will handle vehicle delivery.
Through standardized services, we aim to support users throughout the entire vehicle lifecycle, from vehicle discovery, selection, to purchase and ownership. 以至家在汽车领域积累的专业内容,产品数据库,达人生态以及线下服务网络等核心资产,知识车管家能够为用户提供车型多为对比,购车导购,用车养车等全品类服务,具备独特的差异化竞争优势。
In AI and the models, powered by Autohom's proprietary large language model, we launched Cheese Car Butler, our intelligent agent product. For the automotive vertical, the agent leverages our core assets accumulated in the automotive field, including our professional content, product database, MCN ecosystem, and offline service network to provide users with a broad range of services, including multi-dimensional vehicle comparisons, vehicle purchase guidance, and maintenance services, et cetera, establishing a unique differentiated competitive advantage. Currently, Chase Car Butler is available to users and has entered the feedback collection phase with the initial market response being positive. In the future, we will continue to enhance the underlying model capabilities, optimize the product's interactive experience and gradually integrate more offline service resources to steadily improve the product value and the service quality. are alsoCommonated- covert – second year, we have received an air-to-car
and an air-to-car are completed on the bus on the OTA Ừ 業務 線索 全球 州 國
In the used car business, we continue to develop both our core domestic and overseas platforms For our full-process used car sales service platform, we continue to improve service quality through greater standardization. Recently, we completed an upgrade and iteration of our vehicle inspection system, expanding the number of inspection items from 128 to 265, including 82 newly added assessments specifically designed for new energy vehicles. further improving the accuracy and reliability of our inspection reports. For our cross-border use card export service platform, we formally obtained the official export qualifications during the second quarter. We also established an online multilingual international website and an offline fulfillment network with business leads spanning over 100 countries. In early July, we successfully completed the first used car export order on our platform, making a breakthrough from zero to one for our business. In the next phase, we'll focus on three key areas, high-quality vehicle supplies upstream, expanding overseas customer acquisition downstream, and improving platform operational efficiency.
All of this supports our all-out effort to create a new one-stop channel for used car experts 综上所述 年初至今 我们在各业务领域的尝试都取得了阶段性进展 在扎实推动业务发展的同时 我们始终履行对股东回报的坚定承诺 今年三月启动2亿美元股票回购计划 我们在不到六个月的时间内提前完成 基于对公司长期价值的坚定信心,7月末我们再次宣布启动为期12个月的新一轮4亿美元回购计划,同时,今年上半年的5亿元人民币现金分红也于7月底顺利完成向股东的派发,展望未来,我们将持续深耕新业务布局,继续为用户与合作伙伴提供优质服务,为股东带来稳定可期的回报。
In summary, since the beginning of the year, we achieved meaningful progress across all businesses. While steadily developing our businesses, we've consistently delivered on our commitment to shareholder returns. The US$200 million stock buy-buy program announced in March 2026 was completed ahead of schedule in less than six months. In late July, we announced a new 12-month U.S. dollar $400 million repurchase plan, demonstrating our strong confidence in the company's long-term value. In addition, the RMB $500 million cash dividend for the first half of the year was distributed at the end of July. Looking ahead, we will continue to deepen our new business development, provide high-quality services to users and partners and deliver sustainable returns to our shareholders. With that, let me briefly walk you through the key financials for the second quarter of 2026. Please note that I will reference RMB only in my discussion today, unless otherwise state it. Net revenues for the second quarter were $1.2 billion. To break it down further, media services revenues were 280 million, least generation services revenues were 560 million, and online marketplace and others revenues were 357 million. With respect to cost, cost of revenues in the second quarter was $274 million compared with $503 million in the second quarter of 2025. Growth margin in the second quarter was 77.1% compared with 71.4% in the same period last year. 研发费用为2.23亿元, 上年同期为2.53亿元, 一般级管理费用为0.96亿元, 上年同期为1.33亿元. Turning to operating expenses, still the market expenses in the second quarter were 552 million, compared with 630 million in the second quarter of 2025. Product and development expenses were $223 million compared with $253 million in the second quarter of 2025.
General and administrative expenses were $96 million compared with $133 million in the same period last year. 总体来讲,汽车之家第二季度营业利润为1.3亿元,少年同期营业利润为2.97亿元,归属于汽车之家的经调整净利润为2.77亿元,少年同期为4.76亿元.
Overall, we recorded an operating profit of $130 million in the second quarter compared with $297 million in the same period of 2025. Adjusted net income attributable to auto home was $277 million in the second quarter compared with $476 million in the corresponding period last year. 第二季度,经调整基本和摊薄美股准利润分别为0.62元和0.61元,上年同期均为1.01元。第二季度,经调整基本和摊薄美股存托股准利润均为2.46元,上年同期分别为4.06元和4.04元。 Non-GAAP basic and diluted earnings per share in the second quarter were 0.62 and 0.61 respectively, compared with 1.01 for both in the corresponding period of 2025. Non-GAAP basic and diluted earnings per ADS in the second quarter were both 2.46 compared with 4.06 and 4.04 respectively in the corresponding period of 2025. 截止2026年6月30日,我们的资产负债表持续转线强劲。现金、现金等家务短期投资及其他长期投资合计为193.6亿元。 2026年第二季度,来自经营活动的现金流量净额为2.61亿元。 As of June 30, 2026, our balance sheet remained robust. Cash, cash equivalents, short-term investments, and other long-term investments totaled $19.36 billion. We generated net operating cash flow of $261 million in the second quarter of 2026. On March 5, 2026, our Board of Directors authorized a sharing purchase program under which we are permitted to purchase up to US$200 million of auto homes ADS over a period not to exceed 18 months. As of July 30, 2026, we have completed this share repurchase program ahead of schedule, with a total of approximately 10.63 million ADS repurchased. In addition, on July 28, 2026, our Board of Directors authorized a new share repurchase program under which we may repurchase up to US$400 million of auto homes ADS over the next 12 months. As of August 14, 2026, we had repurchased approximately 1.9 million ADS for a total cost of approximately US dollar 43.6 million. That concludes our financial summary. Now we are ready to open up the Q&A session.
Operator
Thank you. As a reminder, if you'd like to ask a question, you can press star 11 and wait for a name to be announced. Your first question comes from the line of Thomas John of Jefferies. Your line is now open.
Good evening. Thanks, management for taking my questions. I have two questions. The first one is about the auto industry, which is softer than market expectations. Can management comment about the second half industry outlook? And my second question is about the export of loose car business. Can management comment about our competitive edge and the latest business progress?
Thank you. I will answer your question. In the year, the whole car sales have continued to be increased. In the past seven months, the sales sales sales were over 20%. In the second year, the sales sales sales were over 22%. 即便是此前一直增长的这个新能源呢 销量也连续同比的下滑 二季度同比下滑了8% 燃油车呢更是下降了38% 同时呢 行业营迹的水平呢也是同步走低的 就是上半年汽车行业的这个利润额呢 同比下降了20% 利润率仅为3.8% 也是在历史的一个低位 Thank you for your question.
I will answer your question. You know, since the beginning of this year, the overall retail sales in the auto market has remained under pressure. In the first seven months, domestic retail sales of passenger vehicles declined by 20% year over year, while the domestic new vehicle sales fell by 22% year over year in Q2. Even the new energy vehicle, NEV, which had previously been the primary growth driver, it already see a sales decline of 8% in Q2 year-over-year for consecutive periods. And the traditional ICEs, that is internal combustion engine vehicles, performed even worse, the sales declining 38% year-over-year in Q2. At the same time, the auto industry profitability has been deteriorated. In the first half of the year, the profits for the auto manufacturing industry declined by 20% year-over-year, with the profit margin at just 3.8%, which is a historical low. The market expectations for the overall industry sales at the beginning of the year was optimistic, but now this expectation has been revised downward. The China Passenger Car Association CPCA now forecast that the full year for 2026 passenger vehicle retail sales will decline by 16% year over year. So it brings the overall total annual sales to fewer than 20 million units. So this means that the overall China auto market will continue to face quite a lot of pressure in the second half this year. And we expect the auto industry to be characterized by a combination of weak domestic demand, structural differentiation, and exports. From the industry level, we can see the new energy transition is accelerating, and auto export is becoming a new growth driver.
The new car is now in a garbage market, and the future of the market is also a major problem. The new car is still higher in the next month. During the 4th of the year, at the 7th of the year, it is up to 65% of the new car. It is still a full range of the new car. The new car was 74% of the new car.
So for the China auto market, now it has entered into an existing market stage, with the weak domestic demand becoming a major problem, major constraint on growth. And at the same time, you can see the penetration rate for NEV continues to pick up. So in April, the penetration rate is 60%. And now in July, it climbed further to a new high of 65%. So in contrast to the weak domestic demand, the auto export has maintained a strong growth momentum during the first seven months 2026 passenger vehicle exports increased by 74 percent year-over-year with nev accounting for more than half of the total export volumes and the with the weak domestic demand and strong overseas growth simultaneously you know auto exports have become a key engine for automakers to offset the weak domestic demand and drive profit growth.
From the market level, we can see there is an increasing structural differentiation, and consumers are increasingly in a mode they are in a mode of wait and see 细分市场的结构的风化也很明显 从价格段来看呢 车市呈现了两端分化的态势 5万元以下的入门代步车市场大幅收缩 上半年同比下滑了55% 另一方面呢 40万以上的高端性能源销量大涨46% 市场韧性增强 整体来看,燃油车和中低端新能源车的销量下滑,而中高端的新能源车型成为正向增长的一个气氛的一个赛道。
So, currently, the market is experiencing clear structural differentiation across segments. By price range, you can see the auto market is diverging at both ends. The entry-level market for vehicles priced below RMB, 50,000, has contracted sharply declining 55% year-over-year in the first half. On the other side, sales of high-end NEVs priced above RMB 400,000 surged 46%, demonstrating greater market resilience.
So overall, the sales of traditional ICE and low-end NEVs continue to decline, while the middle to high-end NEVs have emerged as a growth segment. 概括了起来,上面车是内冷外热,内需弱,新能源渗透率提升,出口成为拉动行业向上的一个主要增长 在国内汽车市场进入存量竞争的情况下,谁能抓住用户的生命周期的需求,提供贯穿全程的价值服务,谁就能在市场的变革中赢得未来发展的主动权 这也是我们未来会持续关注和探索的主要方面。
So, in summary, the auto market in the first half of this year can be characterized as cold, domestically, hot, overseas. Domestic demand weakened year over year, while NEV penetration continued to increase, and auto exports became the primary growth driver for the overall industry. As China's auto market enters an existing market competition stage, currently, you know, only those companies who can capture consumers' needs throughout their entire life cycle and provide value-added services across the entire customer journey will be best positioned for the future development in the transforming period and market. So this is also one of the key areas we will continue to focus on and explore going forward. The second question about the youth car export, you know, the youth car export market is sufficiently fragmented with a sufficiently large and diverse supply of used car vehicles. So this is favorable for us to build our long-term competitive advantage and sustainable barriers for entry. And if the market was more highly concentrated, it would be more difficult for platform companies. And for our advantages in this area, you know first is the brand strong brand from auto home you know we are the leading uh auto vertical media platform so we have a strong uh brand strong brand recognition and credibility and also you know we are newly listed uh this also uh help us uh in our branding our second is the stable uh supply a used car vehicle supply and a standardized system you know we have access as to a stable and compliant supply of used cars, supported by a standardized industry in vehicle inspection system, which can enable comprehensive assessments of the vehicle condition. So overseas buyers value accurate and complete and comprehensive vehicle inspection reports, as well as those maintenance and the inference claim records. So AutoHome can provide all of this. So this gives overseas buyers greater confidence in their purchase process. Third is the digital one-stop service. This is our advantage. We leverage our online digital tools to improve the operational efficiency, including the 24-7 customer support, those dynamic matching of the vehicle supply, and those multi-lingual website services, etc. So all these capabilities facilitate more effectively communication between buyers and sellers. For our business progress update on the YouthCar, you know, in the second quarter, we just mentioned we officially obtained the government's qualification for the YouthCar Expo, and we successfully completed the first used car export transaction on our platform so this represents an important zero to one breakthrough for this business segment and for the work ahead of us on the on one hand you know we'll expand our high quality uh used car vehicle sourcing on the other hand we'll focus on expanding our overseas customer base and also at the same time we'll continue to optimize our used car export service platform and improve the overall operation efficiency with the goal to build a one-stop new channel for the used car exports the next question please operator thank you the next question comes from the line of Zhang Xiaodan of CICC, please go ahead. so thanks management for taking my questions and first of all the company has recently taken
proactive steps on shareholder returns so how do you view the sustainability of the shareholder return program going forward and over the medium to the long term how will you balance the cash reserves as well as the shareholder returns. And secondly, regarding the new retail business, what is the company's current strategic positioning for this segment?
Thank you. The first question is, 芝加 has always very重视 the revenue return for the long-term revenue. To improve revenue return for the revenue and increase the revenue value, we have also built a long-term revenue
Thank you for your question. AutoHome has always placed a strong emphasis on the shareholder return and the long-term multi-value management. To further enhance our shareholder return mechanism and improve investment value, we have established a due track return framework, combining a regular cash dividend policy with share repurchases, making our shareholder return policy more transparent and predictable. For the share repurchase, as we just mentioned, the US dollar $400 million share by buy program, we completed a head of schedule at the end of July. And also, on July 28, the company announced a new US dollar 400 million share repurchase program. And as of last week, approximately 10% of this buyback program has been completed. So going forward in the future, we will continue to actively execute this buyback program in the open market in accordance with our established strategy. For the cash dividends, you know, in March, the company announced the RMB 500 million cash dividend for the first half of this year, and this was successfully distributed to all our shareholders by the end of July. And also this year, we'll continue to execute our commitment to pay at least RMB 1.5 billion in cash dividends for the full year. For our long-term capabilities, AutoHome has a healthy balance sheet, and we have ample cash reserves and stable business operations. So this gives us the capacity to deliver sustainable, stable, and long-term returns to all shareholders.
So in the future, we will continue to improve operation efficiency and strengthen our business, ensuring we can fulfill our commitment to all the shareholders. 交易平台,汽车之家的商城,线下呢,我们通过在线购车,加加好车呢,拓展这个线下服务的这个网络,承接线上用户需求,从线上到线下的场景中呢,我们用AI提供全流程负能,包括选车的这个交付,呃,购车的负能,这个叫AI询家,询家了,后面还会有用车上的一些规划。
For the new retail business, it is an important strategic initiative for Autohome as we build our transaction ecosystem and address gaps in our offline service capabilities. For online, we are leveraging the Autohome APP to build an automotive transaction service platform, Autohome More. For offline, you know, we leverage offline car purchase and the auto home good car to expand offline service network, connecting online demand with offline service fulfillment. So on the online to offline scenarios, we are leveraging our AI technologies to provide end-to-end support, you know, including the vehicle selection through our AI car selection assistance. and purchase support through AI price inquiry, et cetera. So going forward, we are planning to expand AI-eable services into the vehicle ownership stage.
This is mainly a high-end city. We have a 6-year-old car company in 6 months. We have a 100-year-old car company. We are mainly interested in the middle-of-the-art market. At the end, we want to create a user to see, buy, buy, and buy the whole-time value of the entire market.
In terms of our new retail business update and progress, you can see that the implementation has been moving at a relatively the rapid speed. For online car purchase, it began its pilot program in late April, and now it expanded to five cities, Xi'an, Shenzhen, Suzhou, Jinan, and Shijiazhuang, primarily targeting at high-tier cities. For auto home boot car, it opened up its franchise program in late June and has now more than 100 franchise stores with a primary focus on low-tier markets. So ultimately, our goal is to become a comprehensive automotive service ecosystem that delivers value throughout the entire auto lifecycle from car discovery to car selection to purchasing, owning, and eventually replacing. Thank you. Next question, operator.
Operator
Our next question comes from Richie Son of HSBC.
Please go ahead. 管理先生,晚上好。 感谢你们给我提问的机会。 想请教一下就是你们如何看 现在这个车是整个的恢复的时间点? 还有有什么特别的因素可以驱动这个恢复? 特别是下半年如何看媒体业务的增长的趋势 谢谢 Thank you management for taking my questions I want to ask management about how do you feel the recovery timing As well as the drivers behind the auto market And especially for the media services How would you feel the trend in the second half of this year Thank you 嗯 关于这个车市恢复的这个驱动因素啊 刚才我们也提到了说 国内车市呢 全年的销量已经下调了 这预计啊 预计是一个付的16 嗯 这个也是 按照这个预计呢 下半年表现就要好于上半年 呃 其实这个呢 在这种整体这个下降呢 可能还是和之前的这个 把这个销量这个需求预知的有一定的关系,但即使这样呢,在细分赛道也是有增长的机会的啊,比如这个更新啊,报废更新啊,消费升级啊,也有新的这个需求,刚才我们也提到,就40万元以上的这个高端性能源车的销量空币增长是46%的,在这样的一个市场中呢,是一个非常亮眼的表现,
Regarding the drivers for the auto industry recovery, we just mentioned the auto market sales for the whole year expected to decline about 16% year-over-year. This has been a downside. And however, you know, it doesn't mean there is not any growth opportunities in the market. For example, you know, the vehicles prepaid and replacement will still, you know, contribute more for more new vehicle purchasing demand. And we just mentioned that sales of the high-end NEVs priced over RMB 400,000. It increased 46% a year over year. So in our opinion, a sustainable stabilization and recovery of the auto market still depend on improvement in the broader micro-economic environment, and the strengthening of the consumer confidence. And exports, auto exports is another, you know, important growth opportunity. In the first half of this year, the passenger vehicle PV exports increased by more than 70% year-over-year, and the NEV exports surging 124%. And for NEVs, it accounted for over 50% of the total passenger vehicle exports. So it represents new opportunities in the auto market. 关于下半年的这个媒体业务呢,我们讲就是下半年因为有一个金酒银食嘛,而另一个很重要的因素就是新车的发布,我们预计呢,车室还是会有一定程度的修复。 Regarding the media business, in the second half of this year, as you know, there is always a saying that golden September and silver October, and besides, there will be a multiple of new car, you know, new vehicle and a new car launching in the market. So in our opinion, we believe the market will show kind of a recovery, a second half of this year. Operator, the next question, please.
Operator
For the next question, the next question comes from the line of Brian Gong of Citi. Please go ahead, your line is open. Thank you. I will translate myself. Thanks to management for taking my question. Given the pressure over auto dealers, how does management think about auto for our sales piece business? Thank you.
Uh, 嗯 我们看第二季度我们的线索就是业务的降幅和整个大市的降幅基本上是一致 那另一个原因另一个影响因素呢就是经销商的这个经营情况啊 我觉得看他们压力还是比较大 普遍都没有完成半年的销售目标 汽车流通协会的数据显示 今年上半年 77%的门店 半年销量的目标完成率 不到九成 经销商的 新车销售 还是一个 大量还存在亏损的状态 而且库存也是比较多的 所以我们觉得 下半年的 最新的预测 新车的销量
For the lease, you know, the lease generation, you know, performance is highly related with the overall sales volume in the market. You know, in Q2, you know, the market and the sales of the autos decreased. So that is the main reason for the lease generation segment. So on one hand, for dealer, you know, continue to face significant operating pressures in the market. So many of them fail to meet their sales target for the first half this year. And according to the statistics data from the China Automobile Dealer Association, CAPA, 77% of the dealerships achieved less than 90% of their first half-year sales target. And so many of them, you know, many of those dealers, they, they, they, you know, respond with more losses and with high volumes of inventory. So that's why we believe we, as we just mentioned, the sales volumes for the new cars still face pressure and decrease for second half of this year. 当然了在这种环境下也是有机会的像我们也是要通过我们自己的流量提升产品升级呢提升线索的这个数量和质量啊也继为今年的下半年也为明年的这个续签呢做好准备那我们可以举例比如说AI对吧我们通过AI技术呢赴能经销商的新媒体的直播运营帮助商家呢将们增效提升这个线索的转化能力啊制销店铺升级呢智能导览功能 In the user's video, the user's video, the user's video, and the user's video, and the user's video, and the user's video, and the user's video.
We also hope to help the customer and the customer in the market, help us to improve our customers' performance.
So we still see some opportunities in the market. You know, on one hand, you know, we are increasing our traffic and upgrading our products to improve the quality and the contingent quality of the lead and lay a solid foundation for the renewal of our dealership products. For example, the for the second half of this year and the next year as well. I give you some examples. For example, we take, we're using our AI technology. We use the AI live streaming, you know, we are leveraging the AI technology to empower dealers' new media live streaming operations. So we can help them to reduce costs and improve their efficiency, increase their operation efficiency, and help them to enhance their conversion capabilities. and also we you know we have smart smart stores so we can upgrade the intelligent guiding the tool function so when user browse a dealers online store AI generated voice commentary can match the content on the screen and it can be played automatically so it can help to create an immersive you know watch and a listen experience, helping to increase the number of users who will submit and leave their contact information. So, we expect through those products and service upgrades and technologies, we can build a solid foundation for the renewal of our products next year. Operator? No further questions at this time, I will turn the call back over to management for closing remarks. conference call and to sharing the latest update on the company's corporate strategy and the business development. Should you have any further questions or suggestions, please feel free to contact us at any time. Thank you, everyone. Goodbye. Thank you, operator.
Operator
That does conclude today's conference call. Thank you for your participation. You may now disconnect.
