BEIJING, Feb. 24, 2022 /PRNewswire/ -- Autohome Inc.
(NYSE: ATHM; HKEX: 2518) ("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, 2021.
Fourth
Quarter 2021 Highlights[1]
- Net Revenues in the fourth quarter of 2021 were
RMB1,693.6 million ($265.8 million), compared to RMB2,483.1 million in the corresponding period of
2020.
- Net Income attributable to Autohome Inc. in the fourth
quarter of 2021 was RMB267.8 million
($42.0 million), compared to
RMB1,146.9 million in the
corresponding period of 2020 and net income attributable to
Ordinary Shareholders in the fourth quarter of 2021 was
RMB257.0 million ($40.3 million), compared to RMB1,146.9 million in the corresponding period of
2020.
- Adjusted Net Income attributable to Autohome Inc.
(Non-GAAP)[2] in the fourth quarter of 2021
was RMB469.6 million ($73.7 million), compared to RMB1,192.0 million in the corresponding period of
2020.
Full Year
2021 Highlights[1]
- Net Revenues in 2021 were RMB7,237.0 million ($1,135.6 million), compared to RMB8,658.6 million in 2020. Online Marketplace
and Others Revenues in 2021 were RMB2,237.5 million ($351.1
million), contributing 30.9% of the total revenues, compared
to 23.2% in 2020.
- Net Income attributable to Autohome Inc. in 2021 was
RMB2,248.8 million ($352.9 million), compared to RMB3,405.2 million in 2020 and net income
attributable to Ordinary Shareholders in 2021 was RMB2,148.6 million ($337.2
million), compared to RMB3,405.2
million in 2020.
- Adjusted Net Income attributable to Autohome Inc.
(Non-GAAP)[2] in 2021 was RMB2,582.4 million ($405.2
million), compared to RMB3,621.0
million in 2020.
- Share Repurchase: As of February 22,
2022, the Company has repurchased 432,653 American depositary shares ("ADSs")
for a total cost of approximately US$12.7 million.
- Annual Dividend: The Company's Board of Directors
("Board") has approved a dividend of US$0.53 per ADS (or US$0.1325 per ordinary share) for fiscal year
2021, which is expected to be paid to shareholders of record as of
the close of business on March 21,
2022. The payment is expected to be issued on March 31, 2022 for holders of ordinary shares and
on or around April 5, 2022 for
holders of ADSs.
[1] The
reporting currency of the Company is Renminbi ("RMB"). For the
convenience of readers, certain amounts throughout the release are
presented in US dollars ("$"). Unless otherwise noted, all
conversions from RMB to US$ are translated at the noon buying rate
of US$1.00 to RMB6.3726 on December 30, 2021 in the City of New
York for cable transfers of RMB as certified for customs purposes
by the Federal Reserve Bank of New York. No representation is made
that the RMB amounts could have been, or could be, converted into
US$ at such rate.
[2] 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.
|
Mr. Quan Long, Chairman of the
Board and Chief Executive Officer of Autohome, stated, "We ended
2021 on a solid note with total revenues for the full year coming
in at RMB7.24 billion, despite the
challenging macro environment. During the past year, we
successfully maintained our industry leadership position in our
traditional businesses. We also achieved steady progress in new
business areas. In addition, our diverse and high-quality content
continued to drive the expansion of our user base and better user
engagement. According to QuestMobile, in December 2021, our mobile daily active users
reached a record high with an 11.4% year-over-year increase,
further cementing our leadership position in the
industry. Furthermore, revenues from new energy vehicle
("NEV") brands for 2021 more than doubled year-over-year as we
continue to engage with NEV automakers. We're also delighted to see
higher adoption of our data products by dealer-customers in 2021,
as we continue to enhance our data products with additional
innovative premium features."
Mr. Long added, "On top of these accomplishments, we
successfully listed on the Hong Kong Stock Exchange and implemented
our strategy upgrade in 2021, both marking historic milestones for
the Company. We also launched a share repurchase program while
maintaining our annual dividend policy, which evidence confidence
in our corporate strategy and long-term prospect. Stepping into
2022, we will continue to bring best-in-class products and services
to our users and customers and invest strategically in new
territories to enable our sustainable growth and long-term value
creation."
Unaudited Fourth Quarter 2021 Financial
Results
Net Revenues
Net revenues in the fourth quarter of 2021 were
RMB1,693.6 million ($265.8 million), compared to RMB2,483.1 million in the corresponding period of
2020.
- Media services revenues were RMB372.7 million ($58.5
million), compared to RMB1,029.3
million in the corresponding period of 2020. The decline was
primarily due to the decrease in average revenue per automaker
advertiser.
- Leads generation services revenues were RMB778.1 million ($122.1
million), compared to RMB846.9
million in the corresponding period of 2020. The decline was
primarily due to the decrease in dealers' marketing spending.
- Online marketplace and others revenues were RMB542.8 million($85.2
million), compared to RMB606.9
million in the corresponding period of 2020. The decline was
primarily due to the revenue decrease from data products.
Cost of Revenues
Cost of revenues remained relatively stable at RMB262.0 million ($41.1 million) and RMB268.0 million in the fourth quarter of
2021 and 2020, respectively. In addition, share-based compensation
expense included in cost of revenues was RMB4.8 million ($0.8 million) in the fourth quarter of
2021, compared to RMB4.6 million in
the corresponding period of 2020.
Operating Expenses
Operating expenses were RMB1,325.2 million ($207.9 million) in the fourth quarter of
2021, compared to RMB1,338.0 million in the corresponding
period of 2020.
- Sales and marketing expenses were RMB802.7 million ($126.0
million) in the fourth quarter of 2021, compared to
RMB870.5 million in the corresponding
period of 2020, primarily due to the decrease in promotional
spending and continuous budget control. Share-based compensation
expense included in sales and marketing expenses in the fourth
quarter of 2021 was RMB10.2 million
($1.6 million), compared to
RMB8.6 million in the corresponding
period of 2020.
- General and administrative expenses were RMB127.6 million ($20.0
million) in the fourth quarter of 2021, compared to
RMB70.6 million in the corresponding
period of 2020. The increase was primarily due to the consolidation
of TTP Car, Inc ("TTP"). Share-based compensation expense included
in general and administrative expenses in the fourth quarter of
2021 was RMB21.4 million
($3.4 million), compared to
RMB10.3 million in the corresponding
period of 2020.
- Product development expenses were RMB394.8 million ($62.0
million) in the fourth quarter of 2021, compared to
RMB396.9 million in the corresponding
period of 2020. Share-based compensation expense included in
product development expenses in the fourth quarter of 2021 was
RMB16.6 million ($2.6 million), compared to RMB20.5 million in the corresponding period of
2020.
Operating Profit
Operating profit was RMB176.9 million ($27.8 million) in the fourth quarter of
2021, compared to RMB947.2 million in
the corresponding period of 2020.
Income Tax Benefit
There was an income tax benefit of RMB119.4 million ($18.7
million) in the fourth quarter of 2021, compared to
RMB70.9 million in the corresponding
period of 2020.
Net Income attributable to Autohome
Inc.
Net income attributable to Autohome Inc. was RMB267.8 million ($42.0
million) in the fourth quarter of 2021, compared with
RMB1,146.9 million in the
corresponding period of 2020.
Net Income attributable to Ordinary
Shareholders and Earnings per Share/ADS
Net income attributable to ordinary shareholders was
RMB257.0 million ($40.3 million) in the fourth quarter of 2021,
compared to RMB1,146.9 million in the
corresponding period of 2020. Basic and diluted earnings per share
("EPS") were RMB0.51
($0.08) and RMB0.51 ($0.08),
respectively, in the fourth quarter of 2021 as compared to basic
and diluted EPS of RMB2.39 and
RMB2.38, respectively, in the
corresponding period of 2020. Basic and diluted earnings per ADS
were RMB2.03 ($0.32) and RMB2.03
($0.32), respectively, in the fourth
quarter of 2021 as compared to basic and diluted earnings per ADS
of RMB9.58 and RMB9.53, respectively, in the corresponding
period of 2020.
Adjusted Net Income attributable to Autohome
Inc. (Non-GAAP) and Non-GAAP Earnings per
Share/ADS
Adjusted net income attributable to Autohome Inc. (Non-GAAP)
was RMB469.6 million ($73.7
million) in the fourth quarter of 2021, compared to
RMB1,192.0 million in the
corresponding period of 2020. Non-GAAP basic and diluted EPS
were RMB0.93 ($0.15) and RMB0.93
($0.15), respectively, in the fourth
quarter of 2021 as compared to non-GAAP basic and diluted EPS of
RMB2.49 and RMB2.48, respectively, in the corresponding
period of 2020. Non-GAAP basic and diluted earnings per
ADS were RMB3.71 ($0.58) and RMB3.71
($0.58), respectively, in the
fourth quarter of 2021 as compared to non-GAAP basic and
diluted earnings per ADS of RMB9.95 and RMB9.91, respectively, in the corresponding
period of 2020.
Unaudited Full Year 2021 Financial Results
Net Revenues
Net revenues in 2021 were RMB7,237.0 million ($1,135.6 million), compared to RMB8,658.6 million in 2020.
- Media services revenues were RMB2,011.4 million ($315.6
million), compared to RMB3,455.1
million in 2020. The decline was primarily due to the
decrease in average revenue per automaker advertiser, who adjusted
their advertising budgets due to the ongoing global chip shortage
and the elevated price of raw materials.
- Leads generation services revenues were RMB2,988.1 million ($468.9
million), compared to RMB3,198.8
million in 2020. The decline was primarily due to the
decrease in dealers' marketing spending.
- Online marketplace and others revenues increased by
11.6% year-over-year to RMB2,237.5
million ($351.1 million) from
RMB2,004.7 million in 2020. The
increase was primarily due to the consolidation of TTP.
Cost of Revenues
Cost of revenues was RMB1,047.9 million ($164.4 million) in 2021, compared to
RMB961.2 million in
2020. The increase was primarily attributable
to the consolidation of TTP. In addition, share-based
compensation expense included in cost of revenues was
RMB23.1 million ($3.6 million) in 2021, compared to
RMB21.4 million in 2020.
Operating Expenses
Operating expenses were RMB4,701.7 million ($737.8 million) in 2021, compared
to RMB4,992.6 million in 2020.
- Sales and marketing expenses were RMB2,759.9 million ($433.1
million) in 2021, compared to RMB3,246.5 million in 2020, primarily due to the
decrease in promotional spending and continuous budget control.
Share-based compensation expense included in sales and marketing
expenses in 2021 was RMB46.8 million
($7.3 million), compared to
RMB40.1 million in 2020.
- General and administrative expenses were RMB543.8 million ($85.3
million) in 2021, compared to RMB381.8 million in 2020. The increase was
primarily due to the consolidation of TTP. Share-based compensation
expense included in general and administrative expenses in 2021 was
RMB48.8 million ($7.7 million), compared to RMB55.9 million in 2020.
- Product development expenses were RMB1,398.0 million ($219.4
million) in 2021, compared to RMB1,364.2 million in 2020. The increase was
primarily due to the consolidation of TTP. Share-based compensation
expense included in product development expenses in 2021 was
RMB87.3 million ($13.7 million), compared to RMB93.9 million in 2020.
Operating Profit
Operating profit was RMB1,781.6 million ($279.6 million) in 2021, compared to RMB3,148.0 million in 2020.
Income Tax Expense
There was an income tax expense of RMB34.0 million ($5.3
million) in 2021, compared to RMB260.9 million in 2020. The decrease was
primarily due to lower taxable income.
Net Income attributable to Autohome
Inc.
Net income attributable to Autohome Inc. was RMB2,248.8 million ($352.9
million) in 2021, compared to RMB3,405.2 million in 2020.
Net Income attributable to Ordinary
Shareholders and Earnings per Share/ADS
Net income attributable to ordinary shareholders was
RMB2,148.6 million ($337.2 million) in 2021, compared to RMB3,405.2 million in 2020. Basic and diluted EPS
were RMB4.30 ($0.67) and RMB4.29
($0.67), respectively, in 2021 as
compared to basic and diluted EPS of RMB7.13 and RMB7.10, respectively, in 2020. Basic and diluted
earnings per ADS were RMB17.19
($2.70) and RMB17.17 ($2.69),
respectively, in 2021 as compared to basic and diluted earnings per
ADS of RMB28.53 and RMB28.40, respectively, in 2020.
Adjusted Net Income attributable to Autohome
Inc. (Non-GAAP) and Non-GAAP Earnings per
Share/ADS
Adjusted net income attributable to Autohome Inc. (Non-GAAP)
was RMB2,582.4 million ($405.2
million) in 2021, compared to RMB3,621.0 million in 2020. Non-GAAP
basic and diluted EPS were RMB5.17
($0.81) and RMB5.16 ($0.81),
respectively, in 2021 as compared to non-GAAP basic and diluted EPS
of RMB7.58 and RMB7.55, respectively, in 2020. Non-GAAP basic
and diluted earnings per ADS were RMB20.66 ($3.24)
and RMB20.64 ($3.24), respectively, in 2021 as compared to
non-GAAP basic and diluted earnings per ADS of RMB30.33 and RMB30.19, respectively, in 2020.
Balance Sheet and Cash Flow
As of December 31, 2021, the
Company had cash and cash equivalents and short-term investments of
RMB20.73 billion ($3.25 billion). Net cash provided by operating
activities in the year of 2021 was RMB3,523.9 million ($553.0
million).
Share Repurchase
On November 18, 2021, the Company
announced that its Board had authorized a share repurchase program
under which the Company may repurchase up to US$200 million of its ADSs for a period not to
exceed 12 months thereafter. As of February 22,
2022, the Company had repurchased 432,653 ADSs for a total cost of
approximately US$12.7 million.
Annual Dividend
The Board has approved a dividend of US$0.53 per ADS (or US$0.1325 per ordinary share) for fiscal year
2021, which is expected to be paid to shareholders of record as of
the close of business on March 21,
2022, Beijing/ Hong Kong
Time and New York Time, respectively, payable in U.S. dollars. For
holders of ordinary shares, in order to qualify for the dividend,
all valid documents for the transfer of shares accompanied by the
relevant share certificates must be lodged for registration with
the Company's Hong Kong branch
share registrar, Computershare Hong Kong Investor Services Limited,
at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road
East, Wanchai, Hong Kong no later
than 4:30 p.m. on March 21, 2022 (Beijing/ Hong Kong Time). The payment is
expected to be issued on March 31,
2022 for holders of ordinary shares and on or around
April 5, 2022 for holders of
ADSs.
Under the Company's annual dividend policy approved on
November 4, 2019, the annual dividend
has been set at an amount equivalent to approximately 20% of the
Company's net income in the previous fiscal year. The determination
to make future dividend distributions, and the exact amount of such
distributions in any particular year, will be based upon the
Company's operations and earnings, cash flow, financial condition
and other relevant factors, and subject to adjustment and
determination by the Board.
Employees
The Company had 5,793 employees as of December 31, 2021, including 2,147 employees from
TTP.
Conference Call Information
The Company will host an earnings conference call at
7:00 AM U.S. Eastern Time on
Thursday, February 24, 2022
(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,
China:
|
+852-3027-6500
|
Mainland,
China:
|
8009-880-563/
400-821-0637
|
United
Kingdom:
|
0800-026-1542
|
International:
|
+1-646-722-4977
|
Passcode:
|
58541071#
|
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 3,
2022:
United
States:
|
+1-646-982-0473
|
International:
|
+61-2-8325-2405
|
Passcode:
|
520000424#
|
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; HKEX: 2518) is the leading online
destination for automobile consumers in China. Its mission is to engage, educate and
inform consumers about everything auto. Autohome provides original
generated content, professionally generated content, user-generated
content, and AI-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. 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 announcements made on the website of The Stock Exchange of Hong
Kong Limited (the "Hong Kong Stock Exchange"), 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; relevant
government policies and regulatory environment of China; 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 and announcements on the website of
the Hong Kong Stock Exchange. 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 earnings per ADS, Adjusted net margin 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,
amortization of intangible assets resulting from business
acquisition, certain noncontrolling interests adjustments for TTP
(for the first time starting in the first quarter of 2021 included
interest income related to convertible bond investment to TTP,
which is eliminated in consolidation), and investment loss relating
to non-operating impact of a write-down of the initial investment
in a financial product, adjusted for related income tax effects. 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 net
margin as Adjusted Net Income attributable to Autohome Inc. divided
by total net revenues. We define Adjusted EBITDA as net income
attributable to Autohome Inc. before income tax expense,
depreciation expenses of property and equipment, 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 non-cash charges or non-operating items in nature.
The use of the above non-GAAP financial measures has certain
limitations, as the excluded certain items that 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
Tel: +86-10-5985-7483
E-mail: ir@autohome.com.cn
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
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.
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS DATA
|
(Amount in
thousands, except per share / per ADS data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For three
months ended December 31,
|
|
For
year ended December 31,
|
|
2020
|
|
2021
|
|
|
|
2020
|
|
2021
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Media
services
|
1,029,307
|
|
372,708
|
|
58,486
|
|
3,455,056
|
|
2,011,446
|
|
315,640
|
Leads generation
services
|
846,883
|
|
778,076
|
|
122,097
|
|
3,198,832
|
|
2,988,075
|
|
468,894
|
Online marketplace
and others
|
606,904
|
|
542,833
|
|
85,182
|
|
2,004,671
|
|
2,237,483
|
|
351,110
|
Total net
revenues
|
2,483,094
|
|
1,693,617
|
|
265,765
|
|
8,658,559
|
|
7,237,004
|
|
1,135,644
|
Cost of
revenues
|
(268,006)
|
|
(261,970)
|
|
(41,109)
|
|
(961,170)
|
|
(1,047,892)
|
|
(164,437)
|
Gross
profit
|
2,215,088
|
|
1,431,647
|
|
224,656
|
|
7,697,389
|
|
6,189,112
|
|
971,207
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(870,523)
|
|
(802,714)
|
|
(125,963)
|
|
(3,246,507)
|
|
(2,759,905)
|
|
(433,089)
|
General and
administrative
expenses
|
(70,577)
|
|
(127,644)
|
|
(20,030)
|
|
(381,843)
|
|
(543,799)
|
|
(85,334)
|
Product development
expenses
|
(396,894)
|
|
(394,795)
|
|
(61,952)
|
|
(1,364,227)
|
|
(1,398,037)
|
|
(219,383)
|
Total operating
expenses
|
(1,337,994)
|
|
(1,325,153)
|
|
(207,945)
|
|
(4,992,577)
|
|
(4,701,741)
|
|
(737,806)
|
Other operating
income, net
|
70,081
|
|
70,413
|
|
11,049
|
|
443,215
|
|
294,241
|
|
46,173
|
Operating
profit
|
947,175
|
|
176,907
|
|
27,760
|
|
3,148,027
|
|
1,781,612
|
|
279,574
|
Interest and investment
income/
(loss), net
|
129,496
|
|
(25,624)
|
|
(4,021)
|
|
521,731
|
|
395,245
|
|
62,022
|
Earnings/(loss) from
equity
method investments
|
849
|
|
1,363
|
|
214
|
|
(1,246)
|
|
301
|
|
47
|
Income before
income taxes
|
1,077,520
|
|
152,646
|
|
23,953
|
|
3,668,512
|
|
2,177,158
|
|
341,643
|
Income tax
(expense)/benefit
|
70,883
|
|
119,447
|
|
18,744
|
|
(260,945)
|
|
(34,006)
|
|
(5,336)
|
Net
income
|
1,148,403
|
|
272,093
|
|
42,697
|
|
3,407,567
|
|
2,143,152
|
|
336,307
|
Net (income)/ loss
attributable to
noncontrolling interests
|
(1,501)
|
|
(4,257)
|
|
(668)
|
|
(2,338)
|
|
105,633
|
|
16,576
|
Net income
attributable to
Autohome Inc.
|
1,146,902
|
|
267,836
|
|
42,029
|
|
3,405,229
|
|
2,248,785
|
|
352,883
|
Accretion of
mezzanine equity
|
-
|
|
(31,056)
|
|
(4,873)
|
|
-
|
|
(411,792)
|
|
(64,619)
|
Accretion
attributable to
noncontrolling interests
|
-
|
|
20,243
|
|
3,177
|
|
-
|
|
311,573
|
|
48,893
|
Net income
attributable to
ordinary shareholders
|
1,146,902
|
|
257,023
|
|
40,333
|
|
3,405,229
|
|
2,148,566
|
|
337,157
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share
for
ordinary shares
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2.39
|
|
0.51
|
|
0.08
|
|
7.13
|
|
4.30
|
|
0.67
|
Diluted
|
2.38
|
|
0.51
|
|
0.08
|
|
7.10
|
|
4.29
|
|
0.67
|
Earnings per ADS
attributable
to ordinary shareholders (one
ADS equals for four ordinary
shares)
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
9.58
|
|
2.03
|
|
0.32
|
|
28.53
|
|
17.19
|
|
2.70
|
Diluted
|
9.53
|
|
2.03
|
|
0.32
|
|
28.40
|
|
17.17
|
|
2.69
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used to compute
earnings per share attributable to ordinary
shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
479,092,204
|
|
505,721,464
|
|
505,721,464
|
|
477,467,268
|
|
499,861,764
|
|
499,861,764
|
Diluted
|
481,306,332
|
|
505,974,276
|
|
505,974,276
|
|
479,686,380
|
|
500,481,540
|
|
500,481,540
|
AUTOHOME
INC.
|
RECONCILIATIONS OF
NON-GAAP AND GAAP RESULTS
|
(Amount in thousands,
except per share / per ADS data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For three months
ended December 31,
|
|
For year ended
December 31,
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
Net income
attributable to
Autohome Inc.
|
1,146,902
|
|
267,836
|
|
42,029
|
|
3,405,229
|
|
2,248,785
|
|
352,883
|
Plus: income tax
expense/(benefit)
|
(70,883)
|
|
(118,107)
|
|
(18,534)
|
|
260,945
|
|
39,038
|
|
6,126
|
Plus: depreciation of
property and
equipment
|
45,171
|
|
57,941
|
|
9,092
|
|
158,229
|
|
219,001
|
|
34,366
|
Plus: amortization of
intangible assets
|
2,943
|
|
10,833
|
|
1,700
|
|
12,045
|
|
31,647
|
|
4,966
|
EBITDA
|
1,124,133
|
|
218,503
|
|
34,287
|
|
3,836,448
|
|
2,538,471
|
|
398,341
|
Plus: share-based
compensation
expenses
|
43,986
|
|
52,977
|
|
8,313
|
|
211,206
|
|
206,056
|
|
32,335
|
Adjusted
EBITDA
|
1,168,119
|
|
271,480
|
|
42,600
|
|
4,047,654
|
|
2,744,527
|
|
430,676
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Autohome
Inc.
|
1,146,902
|
|
267,836
|
|
42,029
|
|
3,405,229
|
|
2,248,785
|
|
352,883
|
Plus: amortization of
intangible assets
resulting from business acquisition
|
1,139
|
|
10,722
|
|
1,683
|
|
4,556
|
|
26,564
|
|
4,168
|
Plus: share-based
compensation
expenses
|
43,986
|
|
52,977
|
|
8,313
|
|
211,206
|
|
206,056
|
|
32,335
|
Plus: certain
noncontrolling interests
adjustments for TTP
|
-
|
|
-
|
|
-
|
|
-
|
|
(35,196)
|
|
(5,523)
|
Plus: investment loss
arising from one of
financial products [1]
|
-
|
|
164,070
|
|
25,746
|
|
-
|
|
164,070
|
|
25,746
|
Plus: tax effects of
the reconciliations
|
-
|
|
(26,048)
|
|
(4,087)
|
|
-
|
|
(27,912)
|
|
(4,380)
|
Adjusted net
income attributable to
Autohome Inc.
|
1,192,027
|
|
469,557
|
|
73,684
|
|
3,620,991
|
|
2,582,367
|
|
405,229
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Autohome
Inc.
|
1,146,902
|
|
267,836
|
|
42,029
|
|
3,405,229
|
|
2,248,785
|
|
352,883
|
Net
margin
|
46.2%
|
|
15.8%
|
|
15.8%
|
|
39.3%
|
|
31.1%
|
|
31.1%
|
Adjusted net
income attributable to
Autohome Inc.
|
1,192,027
|
|
469,557
|
|
73,684
|
|
3,620,991
|
|
2,582,367
|
|
405,229
|
Adjusted net
margin
|
48.0%
|
|
27.7%
|
|
27.7%
|
|
41.8%
|
|
35.7%
|
|
35.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings
per share
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2.49
|
|
0.93
|
|
0.15
|
|
7.58
|
|
5.17
|
|
0.81
|
Diluted
|
2.48
|
|
0.93
|
|
0.15
|
|
7.55
|
|
5.16
|
|
0.81
|
Non-GAAP earnings
per ADS (one
ADS equals for four ordinary shares)
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
9.95
|
|
3.71
|
|
0.58
|
|
30.33
|
|
20.66
|
|
3.24
|
Diluted
|
9.91
|
|
3.71
|
|
0.58
|
|
30.19
|
|
20.64
|
|
3.24
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used to
compute non-GAAP earnings per
share:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
479,092,204
|
|
505,721,464
|
|
505,721,464
|
|
477,467,268
|
|
499,861,764
|
|
499,861,764
|
Diluted
|
481,306,332
|
|
505,974,276
|
|
505,974,276
|
|
479,686,380
|
|
500,481,540
|
|
500,481,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[1] It
represented the loss of an overdue financial product with fair
value below its initial investment as of December 31, 2021,
which
was recognized at "interest and investment income/(loss), net". The
impact was considered to be not directly related to the
Company's
operating activities.
|
AUTOHOME
INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEET
|
(Amount in thousands,
except as noted)
|
|
|
|
|
|
|
|
As of December
31,
|
|
As of December
31,
|
|
2020
|
|
2021
|
|
RMB
|
|
RMB
|
|
US$
|
|
(Audited)
|
|
(Unaudited)
|
|
(Unaudited)
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
1,751,222
|
|
4,236,501
|
|
664,799
|
Restricted
Cash
|
-
|
|
89,855
|
|
14,100
|
Short-term
investments
|
12,878,176
|
|
16,496,267
|
|
2,588,624
|
Accounts receivable,
net
|
3,124,197
|
|
2,139,471
|
|
335,730
|
Amounts due from
related parties, current
|
47,303
|
|
83,376
|
|
13,084
|
Prepaid expenses and
other current assets
|
563,182
|
|
280,248
|
|
43,977
|
Total current
assets
|
18,364,080
|
|
23,325,718
|
|
3,660,314
|
Non-current
assets
|
|
|
|
|
|
Restricted cash,
non-current
|
17,926
|
|
5,200
|
|
816
|
Property and
equipment, net
|
410,081
|
|
381,496
|
|
59,865
|
Goodwill and
intangible assets, net
|
4,511,812
|
|
4,428,822
|
|
694,979
|
Long-term
investments
|
70,418
|
|
70,720
|
|
11,098
|
Deferred tax
assets
|
79,661
|
|
176,138
|
|
27,640
|
Amounts due from related
parties, non-current
|
18,163
|
|
7,529
|
|
1,181
|
Other non-current
assets
|
258,704
|
|
133,383
|
|
20,931
|
Total non-current
assets
|
5,366,765
|
|
5,203,288
|
|
816,510
|
Total
assets
|
23,730,845
|
|
28,529,006
|
|
4,476,824
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Accrued expenses and
other payables
|
2,577,709
|
|
2,044,597
|
|
320,842
|
Advance from
customers
|
127,235
|
|
123,370
|
|
19,359
|
Deferred
revenue
|
1,315,667
|
|
1,553,013
|
|
243,702
|
Income tax
payable
|
85,177
|
|
233,342
|
|
36,616
|
Amounts due to
related parties
|
79,895
|
|
31,897
|
|
5,005
|
Total current
liabilities
|
4,185,683
|
|
3,986,219
|
|
625,524
|
Non-current
liabilities
|
|
|
|
|
|
Other
liabilities
|
104,861
|
|
28,619
|
|
4,492
|
Deferred tax
liabilities
|
631,509
|
|
576,798
|
|
90,512
|
Total non-current
liabilities
|
736,370
|
|
605,417
|
|
95,004
|
Total
liabilities
|
4,922,053
|
|
4,591,636
|
|
720,528
|
|
|
|
|
|
|
MEZZANINE
EQUITY
|
|
|
|
|
|
Convertible
redeemable noncontrolling interests
|
1,056,237
|
|
1,468,029
|
|
230,366
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
Total Autohome
Inc. shareholders' equity
|
17,625,734
|
|
22,754,419
|
|
3,570,665
|
Noncontrolling
interests
|
126,821
|
|
(285,078)
|
|
(44,735)
|
Total
equity
|
17,752,555
|
|
22,469,341
|
|
3,525,930
|
Total liabilities,
mezzanine equity and equity
|
23,730,845
|
|
28,529,006
|
|
4,476,824
|
View original
content:https://www.prnewswire.com/news-releases/autohome-inc-announces-unaudited-fourth-quarter-and-full-year-2021-financial-results-301489403.html
SOURCE Autohome Inc.