Third Quarter Net Revenues were RMB1.89 Billion Exceeding the High End of the
Guidance
Net income attributable to Autohome Inc. increased 59.9%
Year-over-Year to RMB681.3
Million
BEIJING, Nov. 12, 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 third quarter ended September 30, 2018.
Third Quarter 2018
Financial Highlights[1]
- Net Revenues in the third quarter of 2018 were
RMB1,888.4 million ($275.0 million), exceeding the high end of the
Company's original guidance of RMB1,870.0
million ($272.3 million).
- Net Income attributable to Autohome Inc. in the third
quarter of 2018 was RMB681.3 million
($99.2 million), compared to
RMB426.1 million in the corresponding
period of 2017.
- Adjusted net income attributable to Autohome Inc.in the
third quarter of 2018 was RMB737.4
million ($107.4 million),
compared to RMB475.8 million in the
corresponding period of 2017.
[1] The
reporting currency of the Company is Renminbi ("RMB"). For the
convenience of readers, certain amounts
throughout the release are presented in US dollars ("$"). Unless
otherwise noted, all conversions from RMB to
US$ are translated at the noon buying rate of US$1.00 to RMB 6.8680
on September 28, 2018 in the City of New
York for cable transfers of RMB as certified for customs purposes
by the Federal Reserve Bank of New York. No
representation is made that the RMB amounts could have been, or
could be, converted into US$ at such rate.
|
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 of the presentation of value-added tax from 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 third 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.
|
|
For the three
months ended September 30, 2018
|
|
|
Under ASC
605
|
|
Adjustments
related to new
revenue guidance
|
|
Under ASC
606
|
Net
revenues
|
|
|
|
|
|
|
Media
services
|
|
955,379
|
|
(54,078)
|
|
901,301
|
Leads generation
services
|
|
842,889
|
|
(103,619)
|
|
739,270
|
Online marketplace
and others
|
|
266,434
|
|
(18,573)
|
|
247,861
|
Total net
revenues
|
|
2,064,702
|
|
(176,270)
|
|
1,888,432
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(317,890)
|
|
102,533
|
|
(215,357)
|
Gross
profit
|
|
1,746,812
|
|
(73,737)
|
|
1,673,075
|
|
|
|
|
|
|
|
Operating
profit
|
|
698,201
|
|
-
|
|
698,201
|
Net
income attributable to
Autohome Inc.
|
|
681,321
|
|
-
|
|
681,321
|
|
|
For the three
months ended September 30, 2017
|
|
|
Under ASC
605
|
|
Adjustments
related to new
revenue guidance
|
|
Under ASC
606
|
Net
revenues
|
|
|
|
|
|
|
Media
services
|
|
792,252
|
|
(41,998)
|
|
750,254
|
Leads generation
services
|
|
700,811
|
|
(86,941)
|
|
613,870
|
Online marketplace
and others
|
|
55,349
|
|
(4,810)
|
|
50,539
|
Total net
revenues
|
|
1,548,412
|
|
(133,749)
|
|
1,414,663
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(304,028)
|
|
81,682
|
|
(222,346)
|
Gross
profit
|
|
1,244,384
|
|
(52,067)
|
|
1,192,317
|
|
|
|
|
|
|
|
Operating
profit
|
|
530,012
|
|
-
|
|
530,012
|
Net
income attributable to
Autohome Inc.
|
|
426,080
|
|
-
|
|
426,080
|
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.
Third Quarter 2018 Operational Highlights
- Mobile Traffic Leadership Continues: In September 2018, the number of average daily
unique visitors who accessed the Company's mobile websites and
primary application combined reached 27.9 million, representing an
increase of 48% compared with September
2017, further solidifying the Company's dominant position in
the auto vertical sector in China.
- Data-driven Professionally Generated Content (PGC)
Aggregates Audience Focus: The Company's automobile content
platform continued to be the best-in-class with the number of
professional content contributors increasing 28% sequentially. In
addition, attributable to popular demand, Autohome has further
diversified its content production by expanding to 13 columns, now
including automobile culture, automobile-in-use, automobile
comparative evaluation, in addition to the original 9 columns
existing in the previous quarter of 2018.
- Augmented Reality Automobile Show in Chengdu Enhances O2O
Convergence: The Company again successfully implemented the use
of its Augmented Reality Automobile Show (the \"AR Auto Show"), for
the recent Chengdu 21st
International Automobile Exhibition during the period from
August 31, 2018 to September 9, 2018. The AR Auto Show attracted 26
branded automakers with over 130 automobile styles on display. This
resulted in close to 46 million unique visitors with approximately
90% originating from tier 2 and lower-tier cities. The AR Auto Show
generated further traffic of potential consumers with strong demand
in lower tier Chinese cities, by surpassing the limitations set by
traditional offline shows in terms of physical location and timing.
Leveraging this satisfactory experience, Autohome plans to further
expand the AR auto shows in other Chinese cities.
Mr. Min Lu, Chairman of the Board
of directors and Chief Executive Officer of Autohome, stated, "We
had another great quarter with revenue again exceeding our original
guidance. With the successful implementation of our "4+1" strategy
driving all of our business pillars, we have initiated strategic
upgrade in building next generation auto ecosystem with AI, big
data and cloud. We plan to continue to deepen our user engagement
across our media platform, offer innovative intelligent marketing
solutions driven by data technology, expand auto-financing options
and partnerships, and accelerate our transaction
platform. Given our consistent and repeated success in the
past, as well as our leading position in the automotive industry,
we remain committed to further strengthen our leadership, enrich
our ecosystem, advance our cutting-edge technology, and enhance our
competitiveness."
Mr. Jun Zou, Chief Financial
Officer, added, "We are pleased with our progress so far in 2018 as
we delivered resilient revenue growth and an even greater increase
in net profit despite the softening macro environment for
automobile sales in China. This
performance was primarily driven by our core business share gains,
continued focus on cost control, while ensuring the success of our
new initiatives. We look forward to the opportunities ahead for
Autohome as we further solidify our position as the automotive
industry's most trusted marketing and technology partner."
Overview of Key
Financial Results for Third Quarter 2018
|
Key Financial
Results
|
|
|
|
|
|
|
|
|
(In RMB Millions
except for per share
data)
|
3Q2017
|
3Q2018
|
%
Change
|
Net
Revenues
|
1,414.7
|
1,888.4
|
33.5%
|
Net Income
attributable to Autohome Inc.
|
426.1
|
681.3
|
59.9%
|
Adjusted Net Income
attributable to
Autohome Inc.[2]
|
475.8
|
737.4
|
55.0%
|
Diluted Earnings Per
Share[3]
|
3.59
|
5.71
|
59.1%
|
[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 Third Quarter 2018 Financial Results
Net Revenues
Net revenues in the third quarter of 2018 were RMB1,888.4 million ($275.0
million) compared to RMB1,414.7
million in the corresponding period of
2017.
- Media services revenues increased 20.1% to RMB901.3 million ($131.2
million) from RMB750.3 million
in the corresponding period of 2017. The increase was mainly
attributable to an increase in average revenue per automaker
advertiser as automakers continued allocating a greater portion of
their advertising budgets to Autohome, which provides an
increasingly diversified and optimized portfolio of products.
- Leads generation services revenues increased 20.4% to
RMB739.3 million ($107.6 million) from RMB613.9 million in the corresponding period of
2017. The increase was primarily attributable to a 15.9%
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 increased 390.4%
to RMB247.9 million ($36.1 million) from RMB50.5 million in the corresponding period of
2017. Excluding direct vehicle sales, it would have increased
620.5% compared to the corresponding period of 2017. This increase
was primarily attributable to the increased contribution from
auto-financing business and data products. Online marketplace and
others revenues in the third quarter of 2018 consisted of revenues
related to new car and used car marketplace, auto-financing
business, data products and others.
Cost of Revenues
Cost of revenues decreased by 3.1% to RMB215.4 million ($31.4
million) from RMB222.3 million in the corresponding period
of 2017. Excluding the cost of direct vehicle sales, cost of
revenues would have increased 4.1% compared to the corresponding
period of 2017. In addition, cost of revenues included share-based
compensation expenses of RMB4.3 million ($0.6 million) during the third quarter of
2018, compared to RMB3.9 million for
the corresponding period of 2017.
Operating Expenses
Operating expenses were RMB1, 074.0 million
($156.4 million) in the third quarter
of 2018, compared to RMB717.2 million
in the corresponding period of 2017. The 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 were RMB676.5 million ($98.5
million) in the third quarter of 2018, compared to
RMB422.3 million in the corresponding
period of 2017. The increase was primarily attributable to an
increase in offline execution and branding expenses. Sales and
marketing expenses for the third quarter of 2018 included
share-based compensation expenses of RMB18.0
million ($2.6 million),
compared to RMB11.6 million in the
corresponding period of 2017.
- General and administrative expenses were RMB100.3 million ($14.6
million) in the third quarter of 2018, compared to
RMB87.4 million in the corresponding
period of 2017. The increase was primarily attributable to an
increase in salaries and benefits. General and administrative
expenses for the third quarter of 2018 included share-based
compensation expenses of RMB12.8
million ($1.9 million),
compared to RMB25.1 million in the
corresponding period of 2017.
- Product development expenses were RMB297.3 million ($43.3
million) in the third quarter of 2018, compared to
RMB207.5 million in the corresponding
period of 2017. The increase was primarily attributable to an
increase in salaries and benefits and increased investment in
research and development activities. Product development expenses
for the third quarter of 2018 included share-based compensation
expenses of RMB19.9 million
($2.9 million), compared to
RMB8.0 million in the corresponding
period of 2017.
Operating Profit
Operating profit increased 31.7% to RMB698.2 million ($101.7
million) from RMB530.0 million
in the corresponding period of 2017.
Income tax expense
Income tax expense decreased 9.2% to RMB150.7 million ($21.9
million) in the third quarter of 2018, from RMB166.0 million in the corresponding period of
2017, primarily attributable to withholding tax liability
associated with special cash dividend in the corresponding period
of 2017, partially offset by an increase in taxable income.
Net Income attributable to Autohome Inc. and
EPS
Net income attributable to Autohome Inc. increased 59.9% to
RMB681.3 million ($99.2 million) from RMB426.1 million in the corresponding period
of 2017. Basic and diluted earnings per share/per ADS
("EPS") were RMB5.78
($0.84) and RMB5.71 ($0.83),
respectively, compared to basic and diluted EPS of RMB3.65 and RMB3.59, respectively, in the corresponding
period of 2017.
Adjusted Net Income attributable to Autohome Inc.
and Non-GAAP EPS
Adjusted net income attributable to Autohome Inc. (Non-GAAP),
defined as net income attributable to Autohome Inc. excluding
share-based compensation expenses and amortization expenses of
intangible assets related to acquisitions, increased 55.0% to
RMB737.4 million ($107.4 million) from RMB475.8 million in the corresponding period
of 2017. Non-GAAP basic and diluted EPS were RMB6.26 ($0.91) and
RMB6.18 ($0.90), respectively,
compared to non-GAAP basic and diluted EPS of RMB4.07 and RMB4.01, respectively, in the corresponding
period of 2017.
Balance Sheet and Cash Flow
As of September 30, 2018, the
Company had cash and cash equivalents and short-term investments of
RMB8,345.9 million ($1,215.2 million). Net cash provided by
operating activities in the third quarter of 2018 was RMB641.3 million ($93.4 million), compared to RMB548.3 million in the corresponding period of
2017.
Employees
The Company had 4,179 employees as of September 30, 2018.
Business Outlook
Autohome currently expects to generate net revenues in the range
of RMB2,110 million ($307.2 million) to RMB2,130 million ($310.1
million) in the fourth quarter of fiscal year 2018,
representing a 31.6% to 32.8% year-over-year increase. If excluding
direct vehicle sales, this represents a 32.0% to 33.3%
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 of presentation of value-added tax from 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 RMB2,310 million ($336.3
million) to RMB2,330 million
($339.3 million) in the fourth
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
Monday, November 12, 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:
|
18906071#
|
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 November 18,
2018:
United
States:
|
+1-646-982-0473
|
International:
|
+61-2-8325-2405
|
Passcode:
|
319303147#
|
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
Joyce Tang
Tel: +86-10-5985-7483
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.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: autohome@tpg-ir.com
AUTOHOME
INC.
|
CONSOLIDATED
STATEMENTS OF OPERATIONS[4]
|
(Amount in
thousands, except per share data)
|
|
|
|
For three months
ended September 30,
|
|
2017
|
|
2018
|
|
RMB
|
|
RMB
|
|
US$
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
Net
revenues:
|
|
|
|
|
|
Media
services
|
792,252
|
|
901,301
|
|
131,232
|
Leads generation
services
|
700,811
|
|
739,270
|
|
107,640
|
Online
marketplace
|
55,349
|
|
247,861
|
|
36,089
|
Total net
revenues
|
1,548,412
|
|
1,888,432
|
|
274,961
|
|
|
|
|
|
|
Cost of
revenues
|
(304,028)
|
|
(215,357)
|
|
(31,357)
|
Gross
profit
|
1,244,384
|
|
1,673,075
|
|
243,604
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Sales and marketing
expenses
|
(422,334)
|
|
(676,509)
|
|
(98,502)
|
General and
administrative expenses
|
(87,438)
|
|
(100,269)
|
|
(14,599)
|
Product development
expenses
|
(207,450)
|
|
(297,259)
|
|
(43,282)
|
Total operating
expenses
|
(717,222)
|
|
(1,074,037)
|
|
(156,383)
|
Other income,
net
|
2,850
|
|
99,163
|
|
14,438
|
Operating
profit
|
530,012
|
|
698,201
|
|
101,659
|
|
|
|
|
|
|
Interest
income
|
61,512
|
|
102,132
|
|
14,871
|
Income/(loss) from
equity method investments
|
(481)
|
|
30,419
|
|
4,429
|
Income before
income taxes
|
591,043
|
|
830,752
|
|
120,959
|
|
|
|
|
|
|
Income tax
expense
|
(165,974)
|
|
(150,702)
|
|
(21,943)
|
Net
income
|
425,069
|
|
680,050
|
|
99,016
|
Net loss attributable
to noncontrolling interests
|
1,011
|
|
1,271
|
|
185
|
Net income
attributable to Autohome Inc.
|
426,080
|
|
681,321
|
|
99,201
|
Earnings per share
for ordinary shares
|
|
|
|
|
|
Basic
|
3.65
|
|
5.78
|
|
0.84
|
Diluted
|
3.59
|
|
5.71
|
|
0.83
|
|
|
|
|
|
|
Weighted average
shares used to compute
earnings per share attributable to Class A
and Class B common stockholders:
|
|
|
|
|
|
|
|
|
|
|
Basic
|
116,784,140
|
|
117,835,866
|
|
117,835,866
|
Diluted
|
118,668,278
|
|
119,245,283
|
|
119,245,283
|
|
|
|
|
|
|
|
|
|
|
|
|
[4] The
operating results for the three months ended September 30, 2017
have 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 three months ended
September
30, 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 September 30,
|
|
|
2017
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
Net
income attributable to Autohome Inc.
|
426,080
|
|
681,321
|
|
99,201
|
|
Plus: income tax
expense
|
165,974
|
|
150,702
|
|
21,943
|
|
Plus: depreciation of
property and
equipment
|
20,707
|
|
22,538
|
|
3,282
|
|
Plus: amortization of
intangible assets
|
1,730
|
|
2,904
|
|
423
|
|
EBITDA
|
614,491
|
|
857,465
|
|
124,849
|
|
Plus: share-based
compensation
expenses
|
48,602
|
|
54,956
|
|
8,002
|
|
Adjusted
EBITDA
|
663,093
|
|
912,421
|
|
132,851
|
|
|
|
|
|
|
|
|
Net income
attributable to Autohome Inc.
|
426,080
|
|
681,321
|
|
99,201
|
|
Plus: amortization of
acquired intangible
assets of Cheerbright,
China Topside and Norstar
|
1,139
|
|
1,139
|
|
166
|
|
Plus: share-based
compensation
expenses
|
48,602
|
|
54,956
|
|
8,002
|
|
Adjusted Net
Income attributable to
Autohome Inc.
|
475,821
|
|
737,416
|
|
107,369
|
|
|
|
|
|
|
|
|
Non-GAAP Earnings
per share for
ordinary
shares
|
|
|
|
|
|
Basic
|
4.07
|
|
6.26
|
|
0.91
|
|
Diluted
|
4.01
|
|
6.18
|
|
0.90
|
|
|
|
|
|
|
|
|
Weighted average
shares used to
compute earnings per share
attributable to Class A and Class B
common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
116,784,140
|
|
117,835,866
|
|
117,835,866
|
|
Diluted
|
118,668,278
|
|
119,245,283
|
|
119,245,283
|
|
|
|
|
|
|
|
|
AUTOHOME
INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(Amount in thousands,
except as noted)
|
|
|
|
As of
December 31,
|
|
As of
September 30,
|
|
|
2017
|
|
2018
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
911,588
|
|
483,106
|
|
70,342
|
|
Short-term
investments
|
|
7,242,636
|
|
7,862,744
|
|
1,144,838
|
|
Accounts and notes
receivable, net
|
|
1,893,737
|
|
2,330,751
|
|
339,364
|
|
Amounts due from
related parties,
current
|
|
24,502
|
|
16,987
|
|
2,473
|
|
Prepaid expenses and
other current
assets
|
|
186,123
|
|
366,408
|
|
53,350
|
|
Total current
assets
|
|
10,258,586
|
|
11,059,996
|
|
1,610,367
|
|
Non-current
assets
|
|
|
|
|
|
|
|
Restricted cash,
non-current
|
|
-
|
|
5,000
|
|
728
|
|
Property and
equipment, net
|
|
130,322
|
|
156,024
|
|
22,718
|
|
Goodwill and
intangible assets, net
|
|
1,555,201
|
|
1,546,490
|
|
225,173
|
|
Long-term
investments
|
|
147,929
|
|
72,492
|
|
10,555
|
|
Deferred tax
assets
|
|
174,620
|
|
139,562
|
|
20,321
|
|
Other non-current
assets
|
|
28,317
|
|
736,213
|
|
107,193
|
|
Total non-current
assets
|
|
2,036,389
|
|
2,655,781
|
|
386,688
|
|
Total
assets
|
|
12,294,975
|
|
13,715,777
|
|
1,997,055
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
Accrued expenses and
other payables
|
1,658,934
|
|
2,061,263
|
|
300,126
|
|
Advance from
customers
|
|
70,454
|
|
65,146
|
|
9,485
|
|
Deferred
revenue
|
|
1,409,485
|
|
722,413
|
|
105,185
|
|
Income tax
payable
|
|
144,379
|
|
292,179
|
|
42,542
|
|
Amounts due to
related parties
|
|
10,285
|
|
66,073
|
|
9,620
|
|
Dividends
payable
|
|
595,779
|
|
-
|
|
-
|
|
Total current
liabilities
|
|
3,889,316
|
|
3,207,074
|
|
466,958
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
Other
liabilities
|
|
32,122
|
|
32,122
|
|
4,677
|
|
Deferred tax
liabilities
|
|
438,251
|
|
450,785
|
|
65,636
|
|
Total non-current
liabilities
|
|
470,373
|
|
482,907
|
|
70,313
|
|
Total
liabilities
|
|
4,359,689
|
|
3,689,981
|
|
537,271
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
Total Autohome
Inc. Shareholders' equity
|
|
7,951,637
|
|
10,047,023
|
|
1,462,875
|
|
Noncontrolling
interests
|
|
(16,351)
|
|
(21,227)
|
|
(3,091)
|
|
Total
equity
|
|
7,935,286
|
|
10,025,796
|
|
1,459,784
|
|
Total liabilities
and equity
|
12,294,975
|
|
13,715,777
|
|
1,997,055
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/autohome-inc-announces-unaudited-third-quarter-ended-september-30-2018-financial-results-300748146.html
SOURCE Autohome Inc.