Cartech Holding's Strategic Stake in Autohome: Haier Intensifies Its Automotive Industry Chain Layout
Qingdao, China, February 20 – Haier Group’s subsidiary, Cartech Holding Company, reached an agreement with Yun Chen Capital Cayman, a subsidiary of Ping An, to acquire approximately 18 billion USD worth of common stock in Autohome (NYSE: ATHM; HKEX: 2518). Upon completion of the transaction, Cartech Holding will hold about 41.91% of Autohome's shares (based on shares issued and outstanding as of December 31, 2024), making it the controlling shareholder of Autohome. Ping An Property & Casualty Insurance Company will continue to be one of Autohome’s major shareholders, holding the remaining shares through Yun Chen Capital.
For 40 years, Haier has adhered to the principle of driving industrial innovation through technological advancement, focusing on the real economy. Haier has strategically developed ecosystems in smart home, big health, and digital economy industries. Within the digital economy track, Haier has established the automotive ecosystem brand, Cartech. Cartech accelerates the restructuring of the automotive service industry chain through its O2O (online-to-offline) car ecosystem model. It provides complete, end-to-end solutions for vehicle services, including personalized car customization, car trading, and smart electricity use, while continuously exploring the development of a connected home-car ecosystem. This transaction will accelerate Cartech’s creation of a new automotive industry ecosystem and further enhance Haier’s digital economy industrial layout.