First Quarter Net Revenues were RMB1.3
Billion exceeding the high end of the guidance
Net
Income Attributable to Autohome Inc. Increased 47.5% Year-over-Year
to RMB482.8 Million
BEIJING, May 8, 2018 /PRNewswire/ -- Autohome Inc. (NYSE:
ATHM) ("Autohome" or the "Company"), the leading online destination
for automobile consumers in China,
today announced its unaudited financial results for the first
quarter ended March 31, 2018.
First Quarter 2018
Financial Highlights[1]
- Net Revenues in the first quarter of 2018 were
RMB1,288.1 million ($205.3 million), exceeding the high end of the
Company's original guidance of RMB1,250.0
million ($199.3 million).
- Net revenues excluding direct vehicle
sales achieved 32.6% year-over-year growth.
- Net Income attributable to Autohome Inc. increased 47.5%
year-over-year to RMB482.8 million
($77.0 million).
Adoption of ASC 606, Revenue from Contracts with
Customers
In May 2014, the FASB issued a new
standard related to revenue recognition and further issued several
amendments and updates to the new revenue guidance. The Company has
finalized its analysis and the most significant impact is the
change from the presentation of value-added tax on a gross basis to
net basis. The Company adopted this guidance effective January 1, 2018 using the modified retrospective
method. The comparative information has not been restated and
continues to be reported under the accounting standards in effect
for those periods.
To provide investors with meaningful year-over-year comparison,
the Company has provided a reconciliation table for the impact of
adopting this new revenue guidance for the first quarter of 2018
and corresponding period in 2017 as adjusted, which was related to
the change in presentation of value-added tax from gross basis to
net basis.
[1] The reporting
currency of the Company is Renminbi ("RMB"). For the convenience of
the reader, certain amounts throughout the release are presented in
US dollars ("$"). Unless otherwise noted, all conversions from RMB
to US$ are translated at the noon buying rate of US$1.00 to
RMB6.2726 on March 30, 2018 in the City of New York for cable
transfers of RMB as certified for customs purposes by the Federal
Reserve Bank of New York. No representation is made that the RMB
amounts could have been, or could be, converted into US$ at such
rate.
|
|
|
For the three
months ended March 31, 2018
|
|
|
Under ASC
605
|
|
Adjustments
related to new revenue guidance
|
|
Under ASC
606
|
Net
revenues
|
|
|
|
|
|
|
Media
services
|
|
619,199
|
|
(35,049)
|
|
584,150
|
Leads
generation services
|
|
703,218
|
|
(92,388)
|
|
610,830
|
Online
marketplace and others
|
|
101,459
|
|
(8,385)
|
|
93,074
|
Total net
revenues
|
|
1,423,876
|
|
(135,822)
|
|
1,288,054
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(214,169)
|
|
68,028
|
|
(146,141)
|
Gross
profit
|
|
1,209,707
|
|
(67,794)
|
|
1,141,913
|
|
|
|
|
|
|
|
Operating
profit
|
|
523,207
|
|
-
|
|
523,207
|
Net
income attributable to Autohome Inc.
|
|
482,783
|
|
-
|
|
482,783
|
|
|
For the three
months ended March 31, 2017
|
|
|
Under ASC
605
|
|
Adjustments
related to new revenue guidance
|
|
Under ASC
606
|
Net
revenues
|
|
|
|
|
|
|
Media
services
|
|
515,682
|
|
(30,048)
|
|
485,634
|
Leads
generation services
|
|
537,987
|
|
(70,416)
|
|
467,571
|
Online
marketplace and others
|
|
294,692
|
|
(41,117)
|
|
253,575
|
Total net
revenues
|
|
1,348,361
|
|
(141,581)
|
|
1,206,780
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(444,593)
|
|
95,778
|
|
(348,815)
|
Gross
profit
|
|
903,768
|
|
(45,803)
|
|
857,965
|
|
|
|
|
|
|
|
Operating
profit
|
|
357,449
|
|
-
|
|
357,449
|
Net
income attributable to Autohome Inc.
|
|
327,417
|
|
-
|
|
327,417
|
For the ease of readers, the operational results are discussed
and analyzed under the new revenue guidance, including those for
the comparative period in 2017.
First Quarter 2018 Operational Highlights
- Mobile Traffic Leadership Continues: According to Quest
Mobile, during the first quarter of 2018, the number of average
daily unique visitors who accessed the Company's primary "Autohome"
application reached 10.1 million, representing an increase of 34.5%
compared with the first quarter of 2017, further strengthening the
Company's dominant position among auto vertical applications in
China.
- Nationwide SaaS Platform Expansion on Track: The
Company's SaaS Platform for used car dealers now covers over 35,000
dealers as of March 2018. This one-stop total solution for
used car dealers offers many innovative services, including
reliable used car sourcing, inventory management, customer
relations management ("CRM"), online marketing and channel
management, as well as a
wider array of financing options that enable used car
dealers to strengthen leads generation, increase sales and improve
inventory turnover.
- Successful Augmented Reality Automobile Show: The
Company implemented the use of its Augmented Reality Automobile
Show (the "AR Auto Show"), for the recent Beijing International
Automobile Exhibition during April 25 to May
4, 2018, in order to enhance user engagement and
interaction. The AR Auto Show attracted 21 branded automakers with
over 100 automobile styles on display. This resulted in over 41
million unique visitors with approximately 80% originating from
tier 2 and below cities. In
addition, the cumulative page view of the AR Auto Show was over 200
million.
Mr. Min Lu, Chairman of the Board
and Chief Executive Officer of Autohome, stated, "During the first
quarter of 2018, we continued to experience strong growth in all
aspects of our businesses and exceeded our top line guidance. Our
solid operational and financial performance reflects the successful
execution of our key growth strategies, including stimulating
overall quality traffic, expanding consumer audiences of our
targeted groups such as the young generation, broadening and
customizing content, increasing user loyalty, advancing big data
technology, which all bode well to drive the growth of our core
media and lead generation businesses as well as our new initiatives
for auto-financing and data product suites. With a solid
start to the year, I am confident in our ability to continue
optimizing these four pillars of our business by leveraging
Autohome's preferred media channels, leading traffic generation,
enhanced user engagement, and precise transaction matching, to
further reinforce our strengths and competitive advantages as the
leading online destination for automobile consumers
in China."
Mr. Jun Zou, Chief Financial
Officer, added, "The increases in both net revenues and net income
for the first quarter of 2018 demonstrate our ability to drive
consistent revenue and profit growth by leveraging our solid
expansion plan for both core and new businesses, as well as
efficient cost control. Looking ahead to the remainder of the
year, we will continue to strengthen the foundation of our
business by focusing on planned strategic initiatives, prudent
investment and value creation to capture the large and growing
number of opportunities in the market."
Overview of Key Financial Results for First Quarter
2018
Key Financial Results
(In RMB Millions
except for per share data)
|
1Q2017
|
1Q2018
|
%
Change
|
Net
Revenues
|
1,206.8
|
1,288.1
|
6.7%
|
Net Income
attributable to Autohome Inc.
|
327.4
|
482.8
|
47.5%
|
Adjusted Net Income
attributable to Autohome Inc.[2]
|
367.2
|
520.0
|
41.6%
|
Diluted Earnings Per
Share[3]
|
2.80
|
4.05
|
44.6%
|
[2] Adjusted net
income attributable to Autohome Inc. is defined as net income
attributable to Autohome Inc. excluding share-based compensation
expenses and amortization expenses of intangible assets related to
acquisitions. For more information on this and other non-GAAP
financial measures, please see the section captioned "Use of
Non-GAAP Financial Measures" and the tables captioned
"Reconciliations of Non-GAAP and GAAP Results" set forth at the end
of this release.
|
[3] Each ordinary
share equals one ADS.
|
Unaudited First Quarter 2018 Financial Results
Net Revenues
Net revenues in the first quarter of 2018 were RMB1,288.1 million ($205.3
million) compared to RMB1,206.8
million in the corresponding period of 2017.
- Media services revenues increased 20.3% to RMB584.2 million ($93.1 million) from RMB485.6 million in the corresponding period
of 2017. The increase was mainly attributable to an increase in
average revenue per automaker advertiser as automakers continue to
allocate a greater portion of their advertising budgets to
Autohome, with increasingly diversified and optimized portfolio of
products being offered.
- Leads generation services revenues increased 30.6%
to RMB610.8 million
($97.4 million) from
RMB467.6 million in the corresponding
period of 2017. The increase was primarily attributable to a 17.6%
year-over-year increase in average revenue per paying dealer as
dealers continue to allocate a greater portion of their budgets to
the Company's services, as well as an expanded dealer client
base.
- Online marketplace and others revenues were RMB93.1 million ($14.8 million) compared to RMB253.6 million in the corresponding period
of 2017. This was a result of the Company's strategy to
de-emphasize direct vehicle sales and focus on facilitating
transactions. Online marketplace and others revenues in the first
quarter of 2018 consisted of revenues related to new car and used
car marketplace, auto-financing business, data products and others.
Excluding the revenues from direct vehicle sales, online
marketplace and others would have increased substantially to
RMB93.1 million ($14.8 million) from RMB18.5 million in the corresponding period of
2017.
Cost of Revenues
Cost of revenues decreased 58.1% to RMB146.1 million ($23.3
million) from RMB348.8 million in the corresponding period
of 2017, primarily due to a decrease in cost of goods sold related
to direct vehicle sales. Excluding the cost of direct vehicle
sales, cost of revenues would have increased 24.3% to RMB146.1 million ($23.3
million) from RMB117.6 million
in the corresponding period of 2017. In addition, cost of revenues
included share-based compensation expenses of RMB1.1 million ($0.2 million) during the first quarter of
2018, compared to RMB4.1 million for
the corresponding period of 2017.
Operating Expenses
Operating expenses increased 24.0% to RMB689.7 million ($110.0 million) from RMB556.4 million in the corresponding period of
2017. This increase was mainly due to increases in sales and
marketing expenses and product development expenses as the Company
continues to reinvest in future growth opportunities.
- Sales and marketing expenses increased 29.9% to
RMB398.0 million ($63.5 million) in the first quarter of 2018,
compared to RMB306.3 million in the
corresponding period of 2017. The increase was primarily
attributable to an increase in offline execution and branding
expenses as well as salaries and benefits. Sales and marketing
expenses for the first quarter of 2018 included share-based
compensation expenses of RMB11.5
million ($1.8 million),
compared with RMB10.7 million in the
corresponding period of 2017.
- General and administrative expenses increased 4.1% to
RMB62.9 million ($10.0 million) from RMB60.4 million in the corresponding period of
2017. The increase was primarily attributable to an increase in
share-based compensation expenses. General and administrative
expenses for the first quarter of 2018 included share-based
compensation expenses of RMB12.2
million ($1.9 million),
compared with RMB9.3 million in the
corresponding period of 2017.
- Product development expenses increased 20.6% to
RMB228.8 million ($36.5 million) from RMB189.7 million in the corresponding period of
2017. This increase was primarily attributable to an increase in
salaries and benefits associated with growth in product development
headcount, which is in line with the Company's strategy of
strengthening its technology and big data analysis capabilities.
Product development expenses for the first quarter of 2018 included
share-based compensation expenses of RMB11.3
million ($1.8 million),
compared with RMB14.5 million in the
corresponding period of 2017.
Operating Profit
Operating profit increased 46.4% to RMB523.2 million ($83.4 million) from RMB357.4 million in the corresponding period of
2017.
Income tax expense
Income tax expense increased 51.1% to RMB103.9 million ($16.6
million) in the first quarter of 2018, from RMB68.8 million in the corresponding period of
2017, primarily attributable to an increase in taxable income.
Net Income attributable to Autohome Inc. and
EPS
Net income attributable to Autohome Inc. increased 47.5% to
RMB482.8 million ($77.0 million) from RMB327.4 million in the corresponding period
of 2017. Basic and diluted earnings per share and per ADS
("EPS") were RMB4.11
($0.66) and RMB4.05 ($0.65),
respectively, compared with basic and diluted EPS in the
corresponding period of 2017 of RMB2.83 and RMB2.80, respectively.
Adjusted Net Income attributable to Autohome Inc.
and Non-GAAP EPS
Adjusted net income attributable to Autohome Inc., defined as
net income attributable to Autohome Inc. excluding share-based
compensation expenses and amortization expenses of intangible
assets related to acquisitions, increased 41.6% to RMB520.0 million ($82.9
million) from RMB367.2 million in the corresponding period
of 2017. Non-GAAP basic and diluted EPS were RMB4.43 ($0.71) and
RMB4.36 ($0.70), respectively,
compared with non-GAAP basic and diluted EPS in the corresponding
period of 2017 of RMB3.18 and
RMB3.13, respectively.
Balance Sheet and Cash Flow
As of March 31, 2018, the Company
had cash and cash equivalents and short-term investments of
RMB7,963.6 million ($1,269.6 million). Net cash provided by
operating activities in the first quarter of 2018 was RMB421.4 million ($67.2 million), compared with RMB485.9 million in the corresponding period of
2017.
Employees
The Company had 3,977 employees as of March 31, 2018.
Business Outlook
Autohome currently expects to generate net revenues in the range
of RMB1,780 million ($283.8 million) to RMB1,800 million ($287.0
million) in the second quarter of fiscal year 2018,
representing a 25.2% to 26.6% year-over-year increase. If excluding
direct vehicle sales, this represents a 29.6% to 31.1%
year-over-year increase. This forecast reflects the Company's
current and preliminary view on the market and its operating
conditions, which are subject to change.
Starting on January 1, 2018,
Autohome adopted a new revenue recognition accounting standard ASC
606. Under ASC 606, the most significant impact on Autohome will be
the change from presentation of value-added tax on gross basis to
net basis. The above guidance reflects revenues net of value-added
tax under the new revenue recognition standard. If presented on
gross basis including value-added tax, the same basis as that for
the year 2017, net revenues are expected to be between RMB1,950 million ($310.8
million) to RMB1,970 million
($314.1 million) in the second
quarter of fiscal year 2018.
Conference Call Information
The Company will host an earnings conference call at
8:00 AM U.S. Eastern Time on
Tuesday, May 8, 2018 (8:00 PM Beijing Time on the same day).
Dial-in details for the earnings conference call are as
follows:
United States: +1-855-824-5644
Hong Kong:
+852-3027-6500
China Domestic: 8009-880-563
United Kingdom: 0800-026-1542
International: +1
646-722-4977
Passcode:
84101341#
Please dial in ten minutes before the call is scheduled to begin
and provide the passcode to join the call.
A replay of the conference call may be accessed by phone at the
following numbers until May 14,
2018:
United States: +1-646-982-0473
International: +61-2-8325-2405
Passcode:
319289894#
Additionally, a live and archived webcast of the conference call
will be available at http://ir.autohome.com.cn.
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
websites 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. 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.
Use of Non-GAAP Financial Measures
To supplement net income presented in accordance with U.S. GAAP,
we use Adjusted Net Income attributable to Autohome Inc., Non-GAAP
basic and diluted EPS and Adjusted EBITDA as non-GAAP financial
measures. We define Adjusted Net Income attributable to Autohome
Inc. as net income attributable to Autohome Inc. excluding
share-based compensation expenses and amortization expenses of
intangible assets related to acquisitions. We define Non-GAAP basic
and diluted EPS as Adjusted Net Income attributable to Autohome
Inc. divided by the basic and diluted weighted average number of
ordinary shares. We define Adjusted EBITDA as net income
attributable to Autohome Inc. before income tax expense/(benefit),
depreciation expenses of property and equipment and amortization
expenses of intangible assets and share-based compensation
expenses. We present these non-GAAP financial measures because they
are used by our management to evaluate our operating performance,
in addition to net income prepared in accordance with U.S. GAAP. We
believe these non-GAAP financial measures are important to help
investors understand our operating and financial performance,
compare business trends among different reporting periods on a
consistent basis and assess our core operating results, as they
exclude certain expenses that are not expected to result in cash
payments. The use of the above non-GAAP financial measures has
certain limitations. Share-based compensation expenses have been
and will continue to be incurred in the future and are not
reflected in the presentation of the non-GAAP financial measures,
but should be considered in the overall evaluation of our results.
These non-GAAP financial measures should be considered in addition
to financial measures prepared in accordance with GAAP, but should
not be considered a substitute for, or superior to, financial
measures prepared in accordance with GAAP. For more information on
these non-GAAP financial measures, please see the table captioned
"Reconciliation of non-GAAP and GAAP Results" set forth at the end
of this press release.
For investor and media inquiries, please contact:
In China:
Autohome Inc.
Investor Relations
Fang Liu
Tel: +86-10-5985-7482
Email: ir@autohome.com.cn
The Piacente Group, Inc.
Xi Zhang
Tel: +86-10-5730-6200
E-mail: autohome@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: autohome@tpg-ir.com
AUTOHOME INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amount in thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
For three months
ended March 31[4],
|
|
2017
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
Net
revenues
|
|
|
|
|
|
|
Media
services
|
515,682
|
|
584,150
|
|
93,127
|
|
Leads
generation services
|
537,987
|
|
610,830
|
|
97,381
|
|
Online
marketplace and others
|
294,692
|
|
93,074
|
|
14,838
|
|
Total net
revenues
|
1,348,361
|
|
1,288,054
|
|
205,346
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(444,593)
|
|
(146,141)
|
|
(23,298)
|
|
Gross
profit
|
903,768
|
|
1,141,913
|
|
182,048
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
Sales and
marketing expenses
|
(306,328)
|
|
(398,032)
|
|
(63,456)
|
|
General and
administrative expenses
|
(60,381)
|
|
(62,880)
|
|
(10,025)
|
|
Product
development expenses
|
(189,726)
|
|
(228,790)
|
|
(36,475)
|
|
Total operating
expenses
|
(556,435)
|
|
(689,702)
|
|
(109,956)
|
|
Other income,
net
|
10,116
|
|
70,996
|
|
11,318
|
|
Operating
profit
|
357,449
|
|
523,207
|
|
83,410
|
|
|
|
|
|
|
|
|
Interest
income
|
38,890
|
|
64,042
|
|
10,210
|
|
Loss from
equity method investments
|
(2,619)
|
|
(1,890)
|
|
(301)
|
|
Income before
income taxes
|
393,720
|
|
585,359
|
|
93,319
|
|
|
|
|
|
|
|
|
Income tax
expense
|
(68,785)
|
|
(103,905)
|
|
(16,565)
|
|
Net
income
|
324,935
|
|
481,454
|
|
76,754
|
|
Net loss
attributable to noncontrolling interests
|
2,482
|
|
1,329
|
|
212
|
|
Net income
attributable to Autohome Inc.
|
327,417
|
|
482,783
|
|
76,966
|
|
Earnings per share
for ordinary shares
|
|
|
|
|
|
|
Basic
|
2.83
|
|
4.11
|
|
0.66
|
|
Diluted
|
2.80
|
|
4.05
|
|
0.65
|
|
|
|
|
|
|
|
|
Weighted average
shares used to compute earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
115,578,134
|
|
117,323,795
|
|
117,323,795
|
|
Diluted
|
117,132,322
|
|
119,164,166
|
|
119,164,166
|
|
|
|
|
|
|
|
|
Other
comprehensive income attributable to Autohome Inc., net of tax of
nil
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
(5,488)
|
|
(24,844)
|
|
(3,961)
|
|
Comprehensive
income attributable to Autohome Inc.
|
321,929
|
|
457,939
|
|
73,005
|
|
[4] The operating
results for the first quarter of 2017 has not been restated and
were presented on a gross basis with the net revenues and cost of
revenues including value-added tax, while those for the first
quarter of 2018 were presented on net basis, with the net revenues
and cost of revenues excluding value-added tax.
|
AUTOHOME INC.
RECONCILIATION OF NON-GAAP AND GAAP RESULTS
(Amount in thousands, except per share data)
|
|
For three months
ended March 31,
|
|
2017
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
Net
income attributable to Autohome Inc.
|
327,417
|
|
482,783
|
|
76,966
|
Plus: income tax
expense
|
68,785
|
|
103,905
|
|
16,565
|
Plus: depreciation of
property and equipment
|
19,616
|
|
21,263
|
|
3,390
|
Plus: amortization of
intangible assets
|
1,145
|
|
2,904
|
|
463
|
EBITDA
|
416,963
|
|
610,855
|
|
97,384
|
Plus: share-based
compensation
expenses
|
38,653
|
|
36,035
|
|
5,745
|
Adjusted
EBITDA
|
455,616
|
|
646,890
|
|
103,129
|
|
|
|
|
|
|
Net
income attributable to Autohome Inc.
|
327,417
|
|
482,783
|
|
76,966
|
Plus: amortization of
acquired intangible assets of Cheerbright,
China Topside and Norstar
|
1,138
|
|
1,138
|
|
181
|
Plus: share-based
compensation expenses
|
38,653
|
|
36,035
|
|
5,745
|
Adjusted Net
Income attributable to Autohome Inc.
|
367,208
|
|
519,956
|
|
82,892
|
|
|
|
|
|
|
Non-GAAP Earnings
per share for ordinary shares
|
|
|
|
|
|
Basic
|
3.18
|
|
4.43
|
|
0.71
|
Diluted
|
3.13
|
|
4.36
|
|
0.70
|
|
|
|
|
|
|
Weighted average
shares used to compute earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
115,578,134
|
|
117,323,795
|
|
117,323,795
|
Diluted
|
117,132,322
|
|
119,164,166
|
|
119,164,166
|
|
|
|
|
|
|
AUTOHOME
INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(Amount in
thousands, except as noted)
|
|
|
As of
December 31,
|
|
As of March
31,
|
|
|
2017
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
911,588
|
|
833,897
|
|
132,943
|
Short-term
investments
|
|
7,242,636
|
|
7,129,721
|
|
1,136,645
|
Accounts and notes
receivable, net
|
|
1,893,737
|
|
1,726,995
|
|
275,324
|
Amounts due from
related parties, current
|
|
24,502
|
|
45,956
|
|
7,326
|
Prepaid expenses and
other current assets
|
|
186,123
|
|
360,132
|
|
57,414
|
Total current
assets
|
|
10,258,586
|
|
10,096,701
|
|
1,609,652
|
Non-current
assets
|
|
|
|
|
|
|
Restricted cash,
non-current
|
|
-
|
|
5,000
|
|
797
|
Property and
equipment, net
|
|
130,322
|
|
115,088
|
|
18,348
|
Goodwill and
intangible assets, net
|
|
1,555,201
|
|
1,552,298
|
|
247,473
|
Long-term
investments
|
|
147,929
|
|
146,046
|
|
23,283
|
Deferred tax
assets
|
|
174,620
|
|
166,552
|
|
26,552
|
Other non-current
assets
|
|
28,317
|
|
25,531
|
|
4,070
|
Total non-current
assets
|
|
2,036,389
|
|
2,010,515
|
|
320,523
|
Total
assets
|
|
12,294,975
|
|
12,107,216
|
|
1,930,175
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accrued expenses and
other payables
|
1,658,934
|
|
1,527,341
|
|
243,494
|
Advance from
customers
|
|
70,454
|
|
59,895
|
|
9,549
|
Deferred
revenue
|
|
1,409,485
|
|
1,438,085
|
|
229,265
|
Income tax
payable
|
|
144,379
|
|
155,687
|
|
24,820
|
Amounts due to
related parties
|
|
10,285
|
|
10,400
|
|
1,658
|
Dividends
payable
|
|
595,779
|
|
-
|
|
-
|
Total current
liabilities
|
|
3,889,316
|
|
3,191,408
|
|
508,786
|
Non-current
liabilities
|
|
|
|
|
|
|
Other
liabilities
|
|
32,122
|
|
32,122
|
|
5,121
|
Deferred tax
liabilities
|
|
438,251
|
|
448,264
|
|
71,464
|
Total non-current
liabilities
|
|
470,373
|
|
480,386
|
|
76,585
|
Total
liabilities
|
|
4,359,689
|
|
3,671,794
|
|
585,371
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
Total Autohome
Inc. Shareholders' equity
|
|
7,951,637
|
|
8,453,102
|
|
1,347,623
|
Noncontrolling
interests
|
|
(16,351)
|
|
(17,680)
|
|
(2,819)
|
Total
equity
|
|
7,935,286
|
|
8,435,422
|
|
1,344,804
|
Total liabilities
and equity
|
12,294,975
|
|
12,107,216
|
|
1,930,175
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/autohome-inc-announces-unaudited-first-quarter-ended-march-31-2018-financial-results-300644361.html
SOURCE Autohome Inc.