BEIJING, May 11, 2016 (GLOBE NEWSWIRE) -- Autohome Inc. (NYSE:ATHM) (“Autohome” or the “Company”), the leading
online destination for automobile consumers in China, today announced that the special committee (the “Special Committee”) of the
Company’s board of directors (the “Board”) has appointed Akin Gump Strauss Hauer & Feld as its legal counsel. As previously
announced, the Company’s Board formed the Special Committee to consider, review and evaluate a previously announced non-binding
“going-private” proposal that the Board received on April 16, 2016 from a consortium comprised of Mr. James Zhi Qin, a director and
the chief executive officer of the Company, Boyu Capital Advisory Co. Ltd, Hillhouse TBC Holdings L.P. and Sequoia China Investment
Management LLP (the “Proposal”). In addition, the Company has retained Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal
counsel in connection with the potential "going-private" transaction contemplated by the Proposal.
The Special Committee is considering the Proposal. The Company cautions its shareholders and others considering trading in its
securities that neither the Board nor the Special Committee has made any decision with respect to the Company’s response to the
Proposal. The Special Committee has not set a definitive timetable for the completion of its evaluation of the Proposal or any
other alternative and does not currently intend to announce developments unless and until an agreement has been reached. There can
be no assurance that any definitive offer will be made, that any agreement will be executed, or that the Proposal or any other
transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to
the Proposal or any other transaction, except as required under applicable law.
About Autohome Inc.
Autohome Inc. (NYSE:ATHM) is the leading online destination for automobile consumers in China. Its mission is to enhance the
car-buying and ownership experience for auto consumers in China. Autohome provides professionally produced and user-generated
content, a comprehensive automobile library, and extensive automobile listing information to automobile consumers, covering the
entire car purchase and ownership cycle. The ability to reach a large and engaged user base of automobile consumers has made
Autohome a preferred platform for automakers and dealers to conduct their advertising campaigns. Further, the Company’s dealer
subscription and advertising services allow dealers to market their inventory and services through Autohome’s platform, extending
the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them. The
Company offers sales leads, data analysis, and marketing services to assist automakers and dealers with improving their efficiency
and facilitating transactions. As a transaction-centric company, Autohome operates its “Autohome Mall”, a full-service online
transaction platform, to facilitate transactions for automakers and dealers. Further, through its website and mobile applications,
it also provides other value-added services, including auto financing, auto insurance, used car transactions, and aftermarket
services. For further information, please visit www.autohome.com.cn.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking statements” pursuant to the “safe harbor” provisions
of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology
such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Among other
things, Autohome’s business outlook, Autohome’s strategic and operational plans and quotations from management in this announcement
contain forward-looking statements. Autohome may also make written or oral forward-looking statements in its periodic reports to
the Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that
are not historical facts, including statements about Autohome’s beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties and changes in circumstances that are difficult to predict.
Autohome cautions you therefore against relying on any of these forward-looking statements. A number of factors could cause actual
results to differ materially from those contained in any forward-looking statement, including but not limited to the following:
Autohome’s goals and strategies; Autohome’s future business development, results of operations and financial condition; the
expected growth of the online automobile advertising market in China; Autohome’s ability to attract and retain users and
advertisers and further enhance its brand recognition; Autohome’s expectations regarding demand for and market acceptance of its
products and services; competition in the online automobile advertising industry; fluctuations in general economic and business
conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other
risks is included in Autohome’s filings with the SEC. All information provided in this press release is as of the date of this
press release, and Autohome does not undertake any obligation to update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact: Vivian Xu Investor Relations Autohome Inc. Tel: +86-10-5985-7017 Email: ir@autohome.com.cn Christian Arnell Christensen Tel: +86-10-5900-1548 Email: carnell@christensenir.com
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