The performance trend of the car home is largely related to the trend of the auto market.
It was learned that the Auto House released the unaudited financial report for the third quarter of FY 2019 as of September 30. According to the financial report, Q3’s total revenue was 2.17 billion yuan, a year-on-year increase of 14.9%, and net profit was 640 million yuan, down 5.5% year-on-year and 19.7% quarter-on-quarter.
From the specific income breakdown, the income of the car home in the third quarter is still 192 million yuan. Due to the continuous increase in the sales cost of the dealers, the car home’s sales revenue for the quarter is 8.28 billion yuan; online market and other business revenue increased by 68.2% year-on-year to 417 million. However, compared with the previous quarter’s data, the income of these three businesses has a certain degree of decline compared to the second quarter.
The performance trend of the car home is largely related to the trend of the auto market.
In the second quarter, although the auto market consumption index continued to be low, Car home business is still strong. However, entered the third quarter, despite the gold and nine silver ten effect blessing, the car market sales recovery is not obvious, in order to maintain the scale of selling cars, car companies to reduce profit margins, the pressure is also very large. Earlier, according to the Securities Times reporter, 20 listed companies were listed. Among them, 13 companies’ net profit in the first three quarters showed a year-on-year decline, and there were 7 listed companies with net profit losses in the first three quarters.
Affected by this, the car home also experienced a large expansion in marketing expenses this quarter, up 32.8% year-on-year to 1.426 billion yuan, the car home said in the financial report, mainly because the company continues to invest in the future Growth opportunities and increased product development costs.
This quarter, the car home has increased the number of online products, previously providing car manufacturers with 818 global auto show activities to help car companies to enhance the market awareness of new car models. The car home said in the financial report, By the end of September, eight car manufacturers have signed the new service.
On the user side, the car home financial report shows that as of the third quarter, the average daily active users of the main applications and small programs of the car home reached 38.8 million, an increase of 38%.
The Chairman and CEO of the Board, Lu Min, said in the financial report: “We have seen strong demand from our customers for our new data products, which proves our leading position in this field. In addition, we are cautious. The overseas business expansion is on the right track. The car home will continue to improve and diversify its products to seize opportunities for future growth.”