Haier Group acquires controlling stake in Autohome

Haier Group's Kataichi Holdings announced the completion of its strategic investment in Autohome, acquiring approximately 43.0% of Yunchen Capital's shares for approximately US$1.8 billion, becoming the controlling shareholder. Ping An Insurance Group of China (Ping An) will retain approximately 5.1% of the shares and a board seat. This transaction marks a change in control of Autohome.