BEIJING, March 7, 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 fourth quarter and full year ended December 31, 2017.
Fourth Quarter 2017 Financial
Highlights[1]
- Net Revenues in the fourth quarter of 2017 were
RMB1,751.4 million ($269.2 million), exceeding the high end of the
Company's original guidance of RMB1,710.0
million ($262.8 million).
- Media services and leads generation services revenues
increased 30.9% year-over-year to RMB1,686.0
million ($259.1 million).
- Net Income attributable to Autohome Inc. increased 94.0%
year-over-year to RMB730.4 million
($112.3 million).
- Net Cash Provided by Operating Activities was
RMB1,322.3 million ($203.2 million), an increase of 67.0%
year-over-year.
Full Year 2017 Financial Highlights[1]
- Media services and leads generation services revenues
increased 33.7% year-over-year to RMB5,699.5
million ($876.0 million).
- Net Income attributable to Autohome Inc. increased 63.0%
year-over-year to RMB2,001.6 million
($307.6 million).
- Net Cash Provided by Operating Activities was
RMB2,473.0 million ($380.1 million), an increase of 52.1%
year-over-year.
Fourth Quarter 2017 Operational
Highlights
- Mobile Traffic Leadership Continues: During the fourth
quarter of 2017, the number of average daily unique visitors who
accessed the Company's primary "Autohome" application increased by
29% compared with the fourth quarter of 2016, further strengthening
the Company's dominant position among auto vertical applications in
China.
- Nationwide SaaS Platform Expansion on Track: The
Company's SaaS Platform for used car dealers has expanded to over
160 cities in China and now covers
over 34,000 dealers as of February
2018. This one-stop total solution for used car dealers
offers many innovative services, including reliable used car
sourcing, inventory management, customer relations management
("CRM"), online marketing and channel management, as well as a
wider array of financing options that enable used car dealers to
strengthen leads generation, increase sales and improve inventory
turnover.
[1] The
reporting currency of the Company is Renminbi ("RMB"). For the
convenience of the reader, certain amounts throughout the release
are presented in US dollars ("$"). Unless otherwise noted, all
conversions from RMB to US$ are translated at the noon buying rate
of US$1.00 to RMB6.5063 on December 29, 2017 in the City of New
York for cable transfers of RMB as certified for customs purposes
by the Federal Reserve Bank of New York. No representation is made
that the RMB amounts could have been, or could be, converted into
US$ at such rate.
|
Mr. Min Lu, Chairman of the Board
and Chief Executive Officer of Autohome, stated, "We made
significant progress in building out our technology and data-driven
automotive eco-platform over the past year, which is composed of
four core categories: auto-media, auto-ecommerce, auto-finance, and
auto-lifestyle. User engagement and loyalty continued to increase
as we diversify the customized content in each category and enhance
personalized recommendations. Newly deployed technology such as
Virtual/Augmented Reality is also enabling more interaction between
our users and automobile OEMs and dealers. In addition, our
business model was expanded to include auto-financing service, and
data product suites as part of our 2018 strategic expansion, which
is code-named 'four ways to eat one fish'. I am very excited about
the opportunities that will emerge in 2018 and am confident in our
ability to continue delivering a superior experience to our users,
collaborate with our automobile partners to further drive their
performance, and invest strategically in our ecosystem to continue
to be the forefront of innovation in the digital automotive
category."
Mr. Jun Zou, Chief Financial
Officer, added, "The successful execution of our '4+1' strategy
enabled us to finish the year on a strong footing and strengthened
our industry-leading position. Combined annual revenues from media
and leads generation services increased 33.7% in 2017 while net
income grew 63% when compared to last year. We implemented more
cost control measures during the quarter which resulted in a
further improvement in profitability. Going forward, we will
continue to focus on expanding the breadth and depth of the
services we have on offer and growing profitability through
increased operational efficiency in order to generate sustainable
long-term returns for our shareholders."
Overview of Key Financial Results for Fourth Quarter and Full
Year 2017
Key Financial Results
(In RMB Millions
except for per share data)
|
2016Q4
|
2017Q4
|
% Change
|
FY 2016
|
FY 2017
|
% Change
|
Net
Revenues
|
2,014.9
|
1,751.4
|
-13.1%
|
5,961.6
|
6,210.2
|
4.2%
|
Net Income
attributable to Autohome Inc.
|
376.5
|
730.4
|
94.0%
|
1,227.9
|
2,001.6
|
63.0%
|
Adjusted Net Income
attributable to Autohome Inc.[2]
|
445.7
|
775.7
|
74.1%
|
1,427.9
|
2,184.0
|
53.0%
|
Diluted Earnings Per
Share[3]
|
3.23
|
6.15
|
90.4%
|
10.58
|
16.95
|
60.2%
|
Net Cash Provided by
Operating Activities
|
791.9
|
1,322.3
|
67.0%
|
1,625.9
|
2,473.0
|
52.1%
|
[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 Fourth Quarter 2017 Financial
Results
Net Revenues
Net revenues in the fourth quarter of 2017 were RMB1,751.4 million ($269.2
million) compared to RMB2,014.9
million in the corresponding period of 2016.
- Media services revenues increased 32.3% to RMB968.5 million ($148.9
million) from RMB732.0 million
in the corresponding period of 2016. The increase was mainly due 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 29.0% to
RMB717.5 million ($110.3 million) from RMB556.4 million in the corresponding period of
2016. The increase was primarily attributable to a 12.0%
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 revenues were RMB65.4 million ($10.1
million) compared to RMB726.5
million in the corresponding period of 2016. Online
marketplace revenues during the fourth quarter of 2017 primarily
consisted of revenues from platform-based services offered on
Autohome Mall and the Company's auto-financing business. This was
the result of implementing the Company's strategy to de-emphasize
direct vehicle sales and focus on facilitating transactions.
Cost of Revenues
Cost of revenues decreased 66.4% to RMB322.7 million ($49.6
million) from RMB960.9 million
in the corresponding period of 2016, primarily due to a decrease in
cost of goods sold related to direct vehicle sales. In addition,
cost of revenues included share-based compensation expenses of
RMB3.8 million ($0.6 million) during the fourth quarter of 2017,
compared to RMB3.8 million for the
corresponding period of 2016.
Operating Expenses
Operating expenses increased 6.0% to RMB827.3 million ($127.1
million) from RMB780.3 million
in the corresponding period of 2016. This increase was mainly due
to increases in product development expenses as the Company
continues to reinvest in future growth opportunities.
- Sales and marketing expenses in the fourth quarter of
2017 were RMB506.6 million
($77.9 million) compared to
RMB517.6 million in the corresponding
period of 2016. Sales and marketing expenses for the fourth quarter
of 2017 included share-based compensation expenses of RMB17.0 million ($2.6
million), compared with RMB15.4
million in the corresponding period of 2016.
- General and administrative expenses decreased 42.7% to
RMB54.5 million ($8.4 million) from RMB95.0
million in the corresponding period of 2016. The decrease
was primarily attributable to a decrease in share-based
compensation expenses and professional service fee. General and
administrative expenses for the fourth quarter of 2017 included
share-based compensation expenses of RMB8.7
million ($1.3 million),
compared with RMB28.9 million in the
corresponding period of 2016.
- Product development expenses increased 58.7% to
RMB266.2 million ($40.9 million) from RMB167.7 million in the corresponding period of
2016. 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 fourth quarter of 2017
included share-based compensation expenses of RMB14.7 million ($2.3
million), compared with RMB20.0
million in the corresponding period of 2016.
Operating Profit
Operating profit increased 119.8% to RMB601.5 million ($92.5
million) from RMB273.6 million
in the corresponding period of 2016, primarily as a result of
improved operational efficiency and operating leverage.
Income tax benefit
There was an income tax benefit of RMB68.9 million ($10.6
million) in the fourth quarter of 2017, compared to income
tax benefit of RMB71.0 million in the
corresponding period of 2016. The income tax benefit was derived
from a change in the enacted tax rate of one of Autohome's
subsidiaries which resulted in tax benefit of RMB159.0 million ($24.4
million) being recorded in the fourth quarter of 2017.
Net Income attributable to Autohome Inc. and
EPS
Net income attributable to Autohome Inc. increased 94.0% to
RMB730.4 million ($112.3 million) from RMB376.5 million in the corresponding period of
2016. Basic and diluted earnings per share and per ADS
("EPS") were RMB6.24
($0.96) and RMB6.15 ($0.95),
respectively, compared with basic and diluted EPS in the
corresponding period of 2016 of RMB3.27 and RMB3.23, 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 74.1% to RMB775.7 million ($119.2
million) from RMB445.7 million
in the corresponding period of 2016. Non-GAAP basic and diluted EPS
were RMB6.62 ($1.02) and RMB6.53
($1.00), respectively, compared with
non-GAAP basic and diluted EPS in the corresponding period of 2016
of RMB3.87 and RMB3.82, respectively.
Unaudited Full Year 2017 Financial Results
Net Revenues
Net revenues increased 4.2% to RMB6,210.2
million ($954.5 million) from
RMB5,961.6 million in 2016. The
increase was mainly due to a 33.7% increase in combined revenues
from media and leads generation services, which was partially
offset by a decrease in revenues from direct vehicle sales as part
of the Company's implementation towards an asset-light
strategy.
- Media services revenues increased 31.3% to RMB3,083.5 million ($473.9
million) from RMB2,347.6
million in 2016. The increase was mainly due 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 36.5% to
RMB2,616.0 million ($402.1 million) from RMB1,916.4 million in 2016. The increase was
primarily attributable to a 21.1% 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 revenues were RMB510.7 million ($78.5
million) compared to RMB1,697.6
million in 2016. This was the result of implementing the
Company's strategy to de-emphasize direct vehicle sales and focus
on facilitating transactions.
Cost of Revenues
Cost of revenues decreased 43.2% to RMB1,358.7 million ($208.8
million) from RMB2,393.2
million in 2016, primarily due to a decrease in cost of
goods sold related to direct vehicle sales. Cost of revenues
included share-based compensation expenses of RMB15.2 million ($2.3
million) compared to RMB12.3
million for the corresponding period of 2016.
Operating Expenses
Operating expenses increased 16.3% to RMB2,808.2 million ($431.6
million) from RMB2,415.1
million in 2016. This increase was mainly due to increases
in product development expenses and sales and marketing expenses as
the Company continues to reinvest in future growth
opportunities.
- Sales and marketing expenses increased 7.2% to
RMB1,647.5 million ($253.2 million) from RMB1,536.9 million in 2016. This increase was
primarily due to (i) an increase in marketing expenses in
connection with the promotion of the Company's brand through mobile
platforms and offline execution and promotional expenses, and (ii)
an increase in salaries and benefits in line with the Company's
overall growth. Sales and marketing expenses for full year 2017
included share-based compensation expenses of RMB53.1 million ($8.2
million), compared with RMB50.8
million in 2016.
- General and administrative expenses in 2017 were
RMB282.0 million ($43.3 million) compared to RMB306.8 million in 2016. General and
administrative expenses of 2017 included share-based compensation
expenses of RMB60.0 million
($9.2 million), compared with
RMB78.0 million in 2016.
- Product development expenses increased 53.8% to
RMB878.8 million ($135.1 million) from RMB571.4 million in 2016. This increase was
primarily attributable to an increase in salaries and benefits as a
result of the 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 of
2017 included share-based compensation expenses of RMB49.6 million ($7.6
million), compared with RMB54.3
million in 2016.
Operating Profit
Operating profit increased 77.2% to RMB2,043.3 million ($314.0
million) from RMB1,153.4
million in 2016, primarily as a result of improved
operational efficiency and operating leverage.
Income tax expense
Income tax expense was RMB267.1
million ($41.1 million) in
2017, a significant increase from RMB32.6
million in 2016. The increase was primarily attributable to
an increase in taxable income and withholding tax liability
associated with special cash dividend.
Net Income attributable to Autohome Inc. and
EPS
Net income attributable to Autohome Inc. increased 63.0% to
RMB2,001.6 million ($307.6 million) from RMB1,227.9 million in 2016. Basic and diluted
earnings per share and per ADS ("EPS") were RMB17.20 ($2.64)
and RMB16.95 ($2.61), respectively, compared with basic and
diluted EPS in 2016 of RMB10.75 and
RMB10.58, 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 53.0% to RMB2,184.0 million ($335.7
million) from RMB1,427.9
million in 2016. Non-GAAP basic and diluted EPS were
RMB18.77 ($2.88) and RMB18.50 ($2.84),
respectively, compared with non-GAAP basic and diluted EPS in 2016
of RMB12.50 and RMB12.31, respectively.
Balance Sheet and Cash Flow
As of December 31, 2017, the
Company had cash and cash equivalents and short-term investments of
RMB8,154.2 million ($1,253.3 million). Net cash provided by operating
activities in the year of 2017 was RMB2,473.0 million ($380.1
million), compared with RMB1,625.9
million in the year of 2016.
Employees
The Company had 4,097 employees as of December 31, 2017.
Business Outlook
Autohome currently expects to generate net revenues in the range
of RMB1,220 million ($187.5 million) to RMB1,250 million ($192.1
million) in the first quarter of fiscal year 2018,
representing a 1.1% to 3.6% 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 tax on gross basis to net basis.
The above guidance reflects revenues net of 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 RMB1,345
million ($206.7 million) to
RMB1,375 million ($211.3 million) in the first quarter of fiscal
year 2018.
Conference Call Information
The Company will host an earnings conference call at
7:00 AM U.S. Eastern Time on
Wednesday, March 7, 2018
(8:00 PM Beijing Time on the same
day).
Dial-in details for the earnings conference call are as
follows:
United
States:
|
1855-824-5644
|
Hong
Kong:
|
3027-6500
|
China
Domestic:
|
8009-880-563
|
United
Kingdom:
|
0800-026-1542
|
International:
|
+1
646-722-4977
|
Passcode:
|
47716761#
|
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 March 13,
2018:
United
States:
|
+1-646-982-0473
|
International:
|
+61-2-8325-2405
|
Passcode:
|
319285596#
|
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,
depreciation expenses of property and equipment and amortization
expenses of intangible assets and interest expense, excluding
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:
Fang Liu
Investor Relations
Autohome Inc.
Tel: +86-10-5985-7482
Email: ir@autohome.com.cn
Christian Arnell
Christensen
Tel: +86-10-5900-1548
Email: carnell@christensenir.com
AUTOHOME
INC.
|
CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
|
(Amount in thousands,
except per share data)
|
|
|
For three months
ended December 31,
|
|
For year ended
December 31,
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net
revenues:
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
Media
services
|
731,996
|
|
968,540
|
|
148,862
|
|
2,347,626
|
|
3,083,496
|
|
473,925
|
Leads generation
services
|
556,392
|
|
717,510
|
|
110,279
|
|
1,916,445
|
|
2,616,009
|
|
402,073
|
Online
marketplace
|
726,477
|
|
65,391
|
|
10,050
|
|
1,697,550
|
|
510,676
|
|
78,489
|
Total net
revenues
|
2,014,865
|
|
1,751,441
|
|
269,191
|
|
5,961,621
|
|
6,210,181
|
|
954,487
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(960,933)
|
|
(322,675)
|
|
(49,594)
|
|
(2,393,165)
|
|
(1,358,685)
|
|
(208,826)
|
Gross
profit
|
1,053,932
|
|
1,428,766
|
|
219,597
|
|
3,568,456
|
|
4,851,496
|
|
745,661
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(517,581)
|
|
(506,572)
|
|
(77,859)
|
|
(1,536,939)
|
|
(1,647,519)
|
|
(253,219)
|
General and
administrative expenses
|
(95,021)
|
|
(54,456)
|
|
(8,370)
|
|
(306,794)
|
|
(281,951)
|
|
(43,335)
|
Product development
expenses
|
(167,701)
|
|
(266,223)
|
|
(40,918)
|
|
(571,354)
|
|
(878,773)
|
|
(135,065)
|
Operating
profit
|
273,629
|
|
601,515
|
|
92,450
|
|
1,153,369
|
|
2,043,253
|
|
314,042
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
26,246
|
|
67,356
|
|
10,352
|
|
88,168
|
|
220,282
|
|
33,857
|
Loss from equity
method investments
|
(1,898)
|
|
(4,654)
|
|
(715)
|
|
(6,638)
|
|
(10,571)
|
|
(1,625)
|
Other income,
net
|
6,558
|
|
(4,945)
|
|
(760)
|
|
13,953
|
|
8,577
|
|
1,318
|
Income before
income taxes
|
304,535
|
|
659,272
|
|
101,327
|
|
1,248,852
|
|
2,261,541
|
|
347,592
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
benefit/(expense)
|
71,035
|
|
68,904
|
|
10,590
|
|
(32,629)
|
|
(267,082)
|
|
(41,050)
|
Net
income
|
375,570
|
|
728,176
|
|
111,917
|
|
1,216,223
|
|
1,994,459
|
|
306,542
|
Net loss attributable
to noncontrolling interests
|
925
|
|
2,222
|
|
342
|
|
11,691
|
|
7,160
|
|
1,100
|
Net income
attributable to Autohome Inc.
|
376,495
|
|
730,398
|
|
112,259
|
|
1,227,914
|
|
2,001,619
|
|
307,642
|
Earnings per share
for ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
3.27
|
|
6.24
|
|
0.96
|
|
10.75
|
|
17.20
|
|
2.64
|
Diluted
|
3.23
|
|
6.15
|
|
0.95
|
|
10.58
|
|
16.95
|
|
2.61
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used to compute
earnings per share
attributable to Class A and
Class B common
stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
115,135,658
|
|
117,123,729
|
|
117,123,729
|
|
114,237,600
|
|
116,379,846
|
|
116,379,846
|
Diluted
|
116,546,201
|
|
118,724,735
|
|
118,724,735
|
|
116,036,327
|
|
118,058,856
|
|
118,058,856
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income/(loss) attributable to Autohome Inc., net of
tax of nil
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
35,850
|
|
(14,320)
|
|
(2,201)
|
|
62,256
|
|
(55,055)
|
|
(8,462)
|
Comprehensive
income attributable to Autohome Inc.
|
412,345
|
|
716,078
|
|
110,058
|
|
1,290,170
|
|
1,946,564
|
|
299,180
|
|
|
AUTOHOME
INC.
|
|
RECONCILIATION OF
NON-GAAP AND GAAP RESULTS
|
|
(Amount in thousands,
except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For three months
ended December 31,
|
|
For year ended
December 31,
|
|
|
2016
|
|
2017
|
|
2016
|
|
2017
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income attributable to Autohome Inc.
|
376,495
|
|
730,398
|
|
112,259
|
|
1,227,914
|
|
2,001,619
|
|
307,642
|
|
Plus: income tax
(benefit)/ expense
|
(71,035)
|
|
(68,904)
|
|
(10,590)
|
|
32,629
|
|
267,082
|
|
41,050
|
|
Plus: depreciation of
property and equipment
|
18,308
|
|
20,993
|
|
3,227
|
|
65,246
|
|
81,915
|
|
12,590
|
|
Plus: amortization of
intangible assets
|
1,142
|
|
2,903
|
|
446
|
|
4,558
|
|
6,923
|
|
1,064
|
|
EBITDA
|
324,910
|
|
685,390
|
|
105,342
|
|
1,330,347
|
|
2,357,539
|
|
362,346
|
|
Plus: share-based
compensation
expenses
|
68,046
|
|
44,209
|
|
6,795
|
|
195,393
|
|
177,786
|
|
27,325
|
|
Adjusted
EBITDA
|
392,956
|
|
729,599
|
|
112,137
|
|
1,525,740
|
|
2,535,325
|
|
389,671
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Autohome Inc.
|
376,495
|
|
730,398
|
|
112,259
|
|
1,227,914
|
|
2,001,619
|
|
307,642
|
|
Plus: amortization of
acquired intangible assets of Cheerbright, China Topside and
Norstar
|
1,139
|
|
1,139
|
|
175
|
|
4,555
|
|
4,556
|
|
700
|
|
Plus: share-based
compensation expenses
|
68,046
|
|
44,209
|
|
6,795
|
|
195,393
|
|
177,786
|
|
27,325
|
|
Adjusted Net
Income attributable to Autohome Inc.
|
445,680
|
|
775,746
|
|
119,229
|
|
1,427,862
|
|
2,183,961
|
|
335,667
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Earnings
per share for
ordinary
shares
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
3.87
|
|
6.62
|
|
1.02
|
|
12.50
|
|
18.77
|
|
2.88
|
|
Diluted
|
3.82
|
|
6.53
|
|
1.00
|
|
12.31
|
|
18.50
|
|
2.84
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used to compute
earnings per share
attributable to Class A and
Class B common
stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
115,135,658
|
|
117,123,729
|
|
117,123,729
|
|
114,237,600
|
|
116,379,846
|
|
116,379,846
|
|
Diluted
|
116,546,201
|
|
118,724,735
|
|
118,724,735
|
|
116,036,327
|
|
118,058,856
|
|
118,058,856
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTOHOME
INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(Amount in thousands,
except as noted)
|
|
|
As of
December 31,
|
|
As of
December 31,
|
|
|
2016
|
|
2017
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
3,293,911
|
|
911,588
|
|
140,109
|
Restricted
cash
|
|
9,319
|
|
-
|
|
-
|
Short-term
investments
|
|
2,430,091
|
|
7,242,636
|
|
1,113,173
|
Accounts receivable,
net
|
|
1,205,924
|
|
1,893,737
|
|
291,062
|
Inventories,
net
|
|
95,617
|
|
-
|
|
-
|
Amounts due from
related parties
|
|
20,451
|
|
24,502
|
|
3,766
|
Prepaid expenses and
other current assets
|
|
377,219
|
|
186,123
|
|
28,608
|
Total current
assets
|
|
7,432,532
|
|
10,258,586
|
|
1,576,718
|
Non-current
assets:
|
|
|
|
|
|
|
Property and
equipment, net
|
|
134,574
|
|
130,322
|
|
20,030
|
Goodwill and
intangible assets, net
|
|
1,533,945
|
|
1,555,201
|
|
239,030
|
Long-term
investments
|
|
134,466
|
|
147,929
|
|
22,736
|
Deferred tax
assets
|
|
121,663
|
|
174,620
|
|
26,839
|
Other non-current
assets
|
|
34,846
|
|
28,317
|
|
4,352
|
Total non-current
assets
|
|
1,959,494
|
|
2,036,389
|
|
312,987
|
Total
assets
|
|
9,392,026
|
|
12,294,975
|
|
1,889,705
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Accrued expenses and
other payables
|
1,151,547
|
|
1,658,934
|
|
254,973
|
Advance from
customers
|
|
75,882
|
|
70,454
|
|
10,829
|
Deferred
revenue
|
|
1,012,143
|
|
1,409,485
|
|
216,634
|
Notes
payable
|
|
31,063
|
|
-
|
|
-
|
Income tax
payable
|
|
256,775
|
|
144,379
|
|
22,191
|
Amounts due to
related parties
|
|
16,630
|
|
10,285
|
|
1,581
|
Dividends
payable
|
|
-
|
|
595,779
|
|
91,570
|
Total current
liabilities
|
|
2,544,040
|
|
3,889,316
|
|
597,778
|
Non-current
liabilities:
|
|
|
|
|
|
|
Other
liabilities
|
|
34,977
|
|
32,122
|
|
4,937
|
Deferred tax
liabilities
|
|
461,796
|
|
438,251
|
|
67,358
|
Total non-current
liabilities
|
|
496,773
|
|
470,373
|
|
72,295
|
Total
liabilities
|
|
3,040,813
|
|
4,359,689
|
|
670,073
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
|
Total Autohome
Inc. Shareholders' equity
|
|
6,360,404
|
|
7,951,637
|
|
1,222,145
|
Noncontrolling
interests
|
|
(9,191)
|
|
(16,351)
|
|
(2,513)
|
Total
equity
|
|
6,351,213
|
|
7,935,286
|
|
1,219,632
|
Total liabilities
and equity
|
9,392,026
|
|
12,294,975
|
|
1,889,705
|
|
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/autohome-inc-announces-unaudited-fourth-quarter-and-full-year-2017-financial-results-300609688.html
SOURCE Autohome Inc.