Feb 20 (Reuters) - Hong Kong-listed Autohome ( ATHM )

said on Thursday the financial conglomerate Ping An Insurance

will cease to be its controlling shareholder after

agreeing to sell a 41.91% stake in the company for $1.8 billion.

Yun Chen Capital Cayman, a unit of Ping An, will sell 200.9

million shares of the auto services portal provider to a unit of

Haier Group Corp.

It also said company insider Song Yang has been appointed as

the new chief executive officer following the resignation of Tao

Wu.

Ping An was looking to offload its stake in Autohome ( ATHM ) and

held talks with several strategic and private equity investors,

Reuters reported in 2021, citing sources.

Founded in 2005, Autohome ( ATHM ) serves as an information portal

for automobile buyers and an online car-trading marketplace in

China.

The company's net income attributable to ordinary

shareholders declined over 13% for fiscal 2024.

China's Haier Group Corp owns home appliance maker Haier

Smart Home.