administrative expenses (141,047) (136,532) (19,456)
Product development
expenses (355,172) (339,159) (48,330)
------------- ------------ ------------
Total operating expenses (1,431,407) (1,352,229) (192,692)
------------- ------------ ------------
Other operating income,
net 64,965 67,981 9,687
Operating profit 166,037 82,616 11,772
------------- ------------ ------------
Interest and investment
income, net 207,365 193,816 27,619
Share of results of
equity method
investments 54,897 12,788 1,822
------------- ------------ ------------
Income before income
taxes 428,299 289,220 41,213
Income tax benefit 145,888 138,982 19,805
------------- ------------ ------------
Net income 574,187 428,202 61,018
Net loss attributable to
noncontrolling
interests 4,151 13,138 1,872
------------- ------------ ------------
Net income attributable
to Autohome 578,338 441,340 62,890
Accretion of mezzanine
equity (38,304) (44,232) (6,303)
Accretion attributable to
noncontrolling
interests 23,974 28,593 4,074
------------- ------------ ------------
Net income attributable
to ordinary
shareholders 564,008 425,701 60,661
============= ============ ============
Earnings per share
attributable to ordinary
shareholders
Basic 1.15 0.88 0.13
Diluted 1.15 0.87 0.12
Earnings per ADS
attributable to ordinary
shareholders (one ADS
equals for four ordinary
shares)
Basic 4.61 3.50 0.50
Diluted 4.59 3.49 0.50
Weighted average shares used to compute
earnings per share attributable to
ordinary shareholders:
Basic 489,632,372 486,207,510 486,207,510
Diluted 490,986,544 487,409,002 487,409,002
AUTOHOME INC.
UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS
(Amount in thousands, except per share / per ADS data)
For three months ended September 30,
----------------------------------------
2023 2024
------------ --------------------------
RMB RMB US$
Net income attributable to
Autohome 578,338 441,340 62,890
Plus: income tax benefit (144,548) (137,642) (19,614)
Plus: depreciation of
property and equipment 38,737 28,527 4,065
Plus: amortization of
intangible assets 9,657 9,650 1,375
------------ ------------ ------------
EBITDA 482,184 341,875 48,716
------------ ------------ ------------
Plus: share-based
compensation expenses 57,934 60,786 8,662
------------ ------------ ------------
Adjusted EBITDA 540,118 402,661 57,378
------------ ------------ ------------
Net income attributable to
Autohome 578,338 441,340 62,890
Plus: amortization of
intangible assets
resulting from business
acquisition 9,583 9,583 1,366
Plus: share-based
compensation expenses 57,934 60,786 8,662
Plus: investment
loss/(gain) arising from
one of financial
products([3]) 8,719 (2,286) (326)
Plus: gain on equity method
investments, net (54,897) (12,788) (1,822)
Plus: tax effects of the
adjustments 4,108 527 75
------------ ------------ ------------
Adjusted net income
attributable to Autohome 603,785 497,162 70,845
------------ ------------ ------------
Net income attributable to
Autohome 578,338 441,340 62,890
Net margin 30.3 % 24.9 % 24.9 %
Adjusted net income
attributable to Autohome 603,785 497,162 70,845
Adjusted net margin 31.7 % 28.0 % 28.0 %
Non-GAAP earnings per share
Basic 1.23 1.02 0.15
Diluted 1.23 1.02 0.15
Non-GAAP earnings per ADS
(one ADS equals for four
ordinary shares)
Basic 4.93 4.09 0.58
Diluted 4.92 4.08 0.58
Weighted average shares
used to compute non-GAAP
earnings per share:
Basic 489,632,372 486,207,510 486,207,510
Diluted 490,986,544 487,409,002 487,409,002
AUTOHOME INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
(Amount in thousands, except as noted)
As of
December 31, As of September 30,
------------- ---------------------
2023 2024
------------- ---------------------
RMB RMB US$
ASSETS
Current assets
Cash and cash equivalents 4,996,353 2,529,304 360,423
Restricted cash 126,794 102,629 14,625
Short-term investments 18,552,354 20,531,286 2,925,685
Accounts receivable, net 1,472,489 1,224,993 174,560
Amounts due from related parties,
current 16,439 43,653 6,221
Prepaid expenses and other current
assets 360,559 379,246 54,042
------------- ----------
Total current assets 25,524,988 24,811,111 3,535,556
------------- ---------- ---------
Non-current assets
Restricted cash, non-current 5,000 5,000 712
Property and equipment, net 200,860 187,878 26,772
Goodwill and intangible assets, net 4,143,968 4,088,213 582,566
Long-term investments 448,341 416,636 59,370
Deferred tax assets 295,598 275,261 39,224
Amounts due from related parties,
non-current 16,048 11,899 1,696
Other non-current assets 200,928 125,893 17,940
------------- ----------
Total non-current assets 5,310,743 5,110,780 728,280
------------- ---------- ---------
Total assets 30,835,731 29,921,891 4,263,836
============= ========== =========
LIABILITIES AND EQUITY
Current liabilities
Accrued expenses and other payables 2,932,227 2,562,739 365,187
Advance from customers 105,379 96,492 13,750
Deferred revenue 801,581 619,883 88,333
Income tax payable 227,260 68,066 9,699
Amounts due to related parties 24,572 31,845 4,538
Dividends payable 984,332 - -
Total current liabilities 5,075,351 3,379,025 481,507
------------- ---------- ---------
Non-current liabilities
Other liabilities 89,187 39,394 5,614
Deferred tax liabilities 497,955 468,472 66,757
------------- ----------
Total non-current liabilities 587,142 507,866 72,371
------------- ---------- ---------
Total liabilities 5,662,493 3,886,891 553,878
------------- ---------- ---------
MEZZANINE EQUITY
Convertible redeemable
noncontrolling interests 1,758,933 1,887,523 268,970
------------- ---------- ---------
EQUITY
Total Autohome shareholders' equity 23,928,187 24,794,511 3,533,190
Noncontrolling interests (513,882) (647,034) (92,202)
------------- ---------- ---------
Total equity 23,414,305 24,147,477 3,440,988
------------- ---------- ---------
Total liabilities, mezzanine equity
and equity 30,835,731 29,921,891 4,263,836
============= ========== =========
(MORE TO FOLLOW) Dow Jones Newswires
November 06, 2024 04:30 ET (09:30 GMT)
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