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1、1 Autohome Inc.Announces Unaudited Third Quarter 2024 Financial Results BEIJING,November 6,2024 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 three months ended Se

2、ptember 30,2024.Third Quarter 2024 Highlights1 Net revenues in the third quarter of 2024 were RMB1,774.5 million(US$252.9 million),compared to RMB1,906.0 million in the corresponding period of 2023.Net income attributable to Autohome in the third quarter of 2024 was RMB441.3 million(US$62.9 million)

3、,compared to RMB578.3 million in the corresponding period of 2023,while net income attributable to ordinary shareholders in the third quarter of 2024 was RMB425.7 million(US$60.7 million),compared to RMB564.0 million in the corresponding period of 2023.Adjusted net income attributable to Autohome(No

4、n-GAAP)2 in the third quarter of 2024 was RMB497.2 million(US$70.8 million),compared to RMB603.8 million in the corresponding period of 2023.Share repurchase:As of November 1,2024,the Company had repurchased 244,302 American depositary shares(“ADSs”)for a total cost of approximately US$6.7 million.C

5、ash dividend:The Companys board of directors has approved a cash dividend of US$1.15 per ADS(or US$0.2875 per ordinary share)payable in U.S.dollars(the“Dividend”)to holders of ADSs and ordinary shares of record as of the close of business on December 31,2024.The aggregate amount of the Dividend will

6、 be approximately RMB1 billion and is expected to be paid to holders of ordinary shares and ADSs of the Company on or around March 14,2025 and March 19,2025,respectively.Mr.Tao Wu,Chief Executive Officer of Autohome,stated,“In the third quarter,we made substantial progress in advancing our integrate

7、d online-to-offline ecosystem strategy,further optimizing our business structure.On the online front,we are leveraging our professional content and product matrix to strengthen our differentiated competitive advantages,leading to a continued growth in the scale of our user base.According to QuestMob

8、ile,our average mobile daily active users grew by 5.6%year-over-year to 72.87 million in September,highlighting our expanding influence within the automotive community.Looking at our offline offerings,our franchise stores-Autohome Space and satellite stores 1 The reporting currency of the Company is

9、 Renminbi(“RMB”).For readers convenience,certain amounts throughout the release are presented in US dollars(“US$”).Unless otherwise noted,all conversions from RMB to US$are translated at the noon buying rate of US$1.00 to RMB7.0176 on September 30,2024 in the City of New York for cable transfers of

10、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-GAA

11、P Financial Measures”and the tables captioned“Unaudited Reconciliations of Non-GAAP and GAAP Results”set forth at the end of this release.2 -are accelerating their penetration into lower-tier cities,creating a robust network that enhances our offline presence.Additionally,our collaboration with Ping

12、 An Group has reached new milestones with the launch of a series of new and innovative products and services across our traditional businesses,data products,used cars,and aftermarket business lines.This collaboration has further strengthened our unique offerings in these areas.”Mr.Craig Yan Zeng,Chi

13、ef Financial Officer of Autohome,added,“The innovative new businesses we have been deploying are beginning to yield results,driving growth in our online marketplace and others business lines this quarter.Notably,revenues from new energy vehicle brands have once again outpaced the sales growth of the

14、 broader industry.We remain committed to maximizing shareholder value through our ongoing dividend and share repurchase programs.Looking ahead,we will continue to expand our footprint across the automotive sector while further enhancing operational efficiency in each of our business lines to ensure

15、long-term sustainable value for our shareholders.”Unaudited Third Quarter 2024 Financial Results Net Revenues Net revenues were RMB1,774.5 million(US$252.9 million)in the third quarter of 2024,compared to RMB1,906.0 million in the corresponding period of 2023.Media services revenues were RMB326.0 mi

16、llion(US$46.5 million)in the third quarter of 2024,compared to RMB476.9 million in the corresponding period of 2023.Leads generation services revenues were RMB830.7 million(US$118.4 million)in the third quarter of 2024,compared to RMB830.1 million in the corresponding period of 2023.Online marketpla

17、ce and others revenues were RMB617.8 million(US$88.0 million)in the third quarter of 2024,compared to RMB599.1 million in the corresponding period of 2023.Cost of Revenues Cost of revenues was RMB407.7 million(US$58.1 million)in the third quarter of 2024,compared to RMB373.6 million in the correspon

18、ding period of 2023,primarily attributable to an increase in operational costs.Share-based compensation expenses included in cost of revenues in the third quarter of 2024 were RMB3.1 million(US$0.4 million),compared to RMB2.8 million in the corresponding period of 2023.Operating Expenses Operating e

19、xpenses were RMB1,352.2 million(US$192.7 million)in the third quarter of 2024,compared to RMB1,431.4 million in the corresponding period of 2023.Sales and marketing expenses were RMB876.5 million(US$124.9 million)in the third quarter of 2024,compared to RMB935.2 million in the corresponding period o

20、f 2023,primarily due to a decrease in marketing and promotional expenses.Share-based compensation expenses included in sales and marketing expenses in the third quarter of 2024 were RMB15.2 million(US$2.2 million),compared to RMB15.3 million in the corresponding period of 2023.General and administra

21、tive expenses were RMB136.5 million(US$19.5 million)in the third quarter of 2024,compared to RMB141.0 million in the corresponding period of 2023.Share-based 3 compensation expenses included in general and administrative expenses in the third quarter of 2024 were RMB15.2 million(US$2.2 million),comp

22、ared to RMB13.0 million in the corresponding period of 2023.Product development expenses were RMB339.2 million(US$48.3 million)in the third quarter of 2024,compared to RMB355.2 million in the corresponding period of 2023.Share-based compensation expenses included in product development expenses in t

23、he third quarter of 2024 were RMB27.3 million(US$3.9 million),compared to RMB26.8 million in the corresponding period of 2023.Operating Profit Operating profit was RMB82.6 million(US$11.8 million)in the third quarter of 2024,compared to RMB166.0 million in the corresponding period of 2023.Income Tax

24、 Benefit Income tax benefit was RMB139.0 million(US$19.8 million)in the third quarter of 2024,compared to RMB145.9 million in the corresponding period of 2023.The income tax benefit was primarily attributable to tax filing adjustments of the previous year,which was mainly benefit from the PRC prefer

25、ential income tax rate and tax holiday of certain subsidiaries.Net Income Attributable to Autohome Net income attributable to Autohome was RMB441.3 million(US$62.9 million)in the third quarter of 2024,compared to RMB578.3 million in the corresponding period of 2023.Net Income Attributable to Ordinar

26、y Shareholders and Earnings per Share/ADS Net income attributable to ordinary shareholders was RMB425.7 million(US$60.7 million)in the third quarter of 2024,compared to RMB564.0 million in the corresponding period of 2023.Basic and diluted earnings per share(“EPS”)were RMB0.88(US$0.13)and RMB0.87(US

27、$0.12),respectively,in the third quarter of 2024,compared to basic and diluted EPS of RMB1.15 and RMB1.15,respectively,in the corresponding period of 2023.Basic and diluted earnings per ADS were RMB3.50(US$0.50)and RMB3.49(US$0.50),respectively,in the third quarter of 2024,compared to basic and dilu

28、ted earnings per ADS of RMB4.61 and RMB4.59,respectively,in the corresponding period of 2023.Adjusted Net Income Attributable to Autohome(Non-GAAP)and Non-GAAP EPS/ADS Adjusted net income attributable to Autohome(Non-GAAP)was RMB497.2 million(US$70.8 million)in the third quarter of 2024,compared to

29、RMB603.8 million in the corresponding period of 2023.Non-GAAP basic and diluted EPS were RMB1.02(US$0.15)and RMB1.02(US$0.15),respectively,in the third quarter of 2024,compared to non-GAAP basic and diluted EPS of RMB1.23 and RMB1.23,respectively,in the corresponding period of 2023.Non-GAAP basic an

30、d diluted earnings per ADS were RMB4.09(US$0.58)and RMB4.08(US$0.58),respectively,in the third quarter of 2024,compared to non-GAAP basic and diluted earnings per ADS of RMB4.93 and RMB4.92,respectively,in the corresponding period of 2023.Balance Sheet and Cash Flow 4 As of September 30,2024,the Com

31、pany had cash and cash equivalents and short-term investments of RMB23.06 billion(US$3.29 billion).Net cash provided by operating activities in the third quarter of 2024 was RMB208.5 million(US$29.7 million).Cash Dividend The Companys board of directors has approved the Dividend of US$1.15 per ADS(o

32、r US$0.2875 per ordinary share)payable in U.S.dollars to holders of ADSs and ordinary shares of record as of the close of business on December 31,2024,New York Time and Beijing/Hong Kong Time,respectively.The aggregate amount of the Dividend will be approximately RMB1 billion.For holders of ordinary

33、 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 Companys Hong Kong branch share registrar,Computershare Hong Kong Investor Services Limited,at Shops 1712-1716,17th Floo

34、r,Hopewell Centre,183 Queens Road East,Wanchai,Hong Kong no later than 4:30 p.m.on December 31,2024(Beijing/Hong Kong Time).The Dividend is expected to be paid to holders of ordinary shares and ADSs of the Company(through the depositary bank and subject to the terms of the deposit agreement)on or ar

35、ound March 14,2025 and March 19,2025,respectively.Employees The Company had 4,710 employees as of September 30,2024,including 1,414 employees from TTP Car,Inc.Conference Call Information The Company will host an earnings conference call at 7:00 a.m.U.S.Eastern Time on Wednesday,November 6,2024(8:00

36、p.m.Beijing Time on the same day).Please register in advance of the conference call using the registration link provided below.Upon registering,each participant will receive a set of participant dial-in numbers and a personal PIN,which will be used to join the conference call.Registration Link:https

37、:/ Please use the conference access information to join the call 10 minutes before the call is scheduled to begin.Additionally,a live and archived webcast of the conference call will be available at https:/ and a replay of the webcast will be available following the session.About Autohome Autohome I

38、nc.(NYSE:ATHM;HKEX:2518)is the leading online destination for automobile consumers in China.Its mission is to relentlessly reduce auto industry decision-making and transaction costs driven by advanced technology.Autohome provides occupationally generated content,professionally generated content,user

39、-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 pref

40、erred platform for automakers and dealers to conduct their advertising campaigns.Further,the Companys dealer subscription and advertising services allow dealers to market their inventory and services through Autohomes platform,extending the reach of their physical showrooms to potentially millions o

41、f internet users in China and generating sales leads 5 for them.The Company offers sales leads,data analysis,and marketing services to assist automakers and dealers with improving their efficiency and facilitating transactions.Further,through its websites and mobile applications,it also provides oth

42、er value-added services,including auto financing,auto insurance,used car transactions,and aftermarket services.For further information,please visit https:/ Harbor Statement This press release contains statements that may constitute forward-looking statements pursuant to the safe harbor provisions of

43、 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,Autohomes business outlook,Autohomes strategic and operationa

44、l 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

45、 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 Autohomes beliefs an

46、d 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:Autohomes goals and s

47、trategies;Autohomes future business development,results of operations and financial condition;the expected growth of the online automobile advertising market in China;Autohomes ability to attract and retain users and advertisers and further enhance its brand recognition;Autohomes expectations regard

48、ing 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

49、of the foregoing.Further information regarding these and other risks is included in Autohomes 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 a

50、ny 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,Non-GAAP basic and diluted EPS and earnings per ADS,Adju

51、sted net margin and Adjusted EBITDA as non-GAAP financial measures.We define Adjusted Net Income attributable to Autohome as net income attributable to Autohome excluding share-based compensation expenses,amortization of intangible assets resulting from business acquisition,investment loss/(gain)rel

52、ating to non-operating impact of a write-down of the initial investment in a financial product,and loss/(gain)pickup of equity method investments,with all the reconciliation items adjusted for related income tax effects.We define non-GAAP basic and diluted EPS as Adjusted Net Income attributable to

53、Autohome divided by the basic and diluted weighted average number of ordinary shares.We define non-GAAP basic and diluted earnings per ADS as Adjusted Net Income attributable to Autohome divided by the basic and diluted weighted average number of ADSs.We define Adjusted net margin as Adjusted Net In

54、come attributable to Autohome divided by total net revenues.We define Adjusted EBITDA as net income attributable to Autohome before income tax expense,depreciation expenses of property and equipment,amortization expenses of intangible assets and share-based compensation expenses.We present these non

55、-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 6 and financial performance,comp

56、are business trends among different reporting periods on a consistent basis and assess our core operating results,as they exclude certain non-cash charges or items that are non-operating in nature.The use of the above non-GAAP financial measures has certain limitations as they excluded certain items

57、 that have been and will continue to be incurred in the future,but such items 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 substit

58、ute 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 Unaudited Reconciliation of non-GAAP and GAAP Results set forth at the end of this press release.For investor and media inquiries,please

59、 contact:Autohome Inc.Sterling Song Investor Relations Director Tel:+86-10-5985-7483 E-mail: Christensen China Limited Suri Cheng Tel:+86-185-0060-8364 E-mail: 7 AUTOHOME INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA (Amount in thousands,except per share/per ADS data)For three m

60、onths ended September 30,2023 2024 RMB RMB US$Net revenues:Media services 476,869 325,967 46,450 Leads generation services 830,050 830,748 118,381 Online marketplace and others 599,112 617,817 88,038 Total net revenues 1,906,031 1,774,532 252,869 Cost of revenues(373,552)(407,668)(58,092)Gross profi

61、t 1,532,479 1,366,864 194,777 Operating expenses:Sales and marketing expenses (935,188)(876,538)(124,906)General and 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,

62、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 42

63、8,202 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

64、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

65、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 8 AUTOHOME INC.UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS(Amount in thousands,except per share/per ADS data)For three months ende

66、d 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

67、: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

68、,662 Plus:investment loss/(gain)arising from one of financial products3 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 A

69、utohome 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)Ba

70、sic 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 3 It represented the loss of an investment with fair value below its initial investment,which was recogn

71、ized at“interest and investment income,net”.The impact was considered to be not directly related to the Companys operating activities.9 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 Cur

72、rent 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

73、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

74、,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 lia

75、bilities 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 liabilitie

76、s 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