Financial Data and Key Metrics Changes - In Q2 2024, Autohome's total revenues grew by 2.2% year-over-year to RMB1.87 billion, with adjusted net income attributable to Autohome at RMB572 million, resulting in an adjusted net profit margin of 30.6% [7][21][22] - Media services revenues were RMB433 million, leads generation services revenues were RMB820 million, and online marketplace and others revenues were RMB619 million, with the latter up 14% year-over-year [21] - Gross margin in Q2 2024 was 81.5%, slightly down from 82% in the same period last year [22] Business Line Data and Key Metrics Changes - Revenues from data products increased by over 15% year-over-year, while revenues from NEV (New Energy Vehicle) nearly doubled compared to the same period last year [8][18] - The innovative business lines, including the new retail business and digitalization efforts, contributed to the overall revenue growth and user engagement [9][10] Market Data and Key Metrics Changes - The average mobile daily active users (DAUs) reached 67.91 million in June, an increase of 8.3% year-over-year, solidifying Autohome's leading position in the auto media vertical [14] - The used car market faced challenges, with a 1% year-over-year drop in used car sales in June, indicating pressure from new car pricing [37] Company Strategy and Development Direction - Autohome is focusing on a user-centric approach and innovation to drive development, exploring new models of online-to-offline integration [11] - The company is expanding its new retail business through a satellite plan, establishing a network of stores in low-tier cities to enhance market reach [9][16] - Collaboration with Ping An Group aims to leverage resources for greater synergies in the automotive ecosystem [10] Management Comments on Operating Environment and Future Outlook - Management noted that the ongoing price war in the automotive market has led to significant pressures on profitability and brand value for luxury brands, prompting some to withdraw from aggressive pricing strategies [26][30] - Recent government policies aimed at promoting automobile consumption are expected to positively impact the market, with anticipated increases in NEV sales [31][34] Other Important Information - Autohome's balance sheet remains strong, with cash, cash equivalents, and short-term investments totaling RMB23.47 billion as of June 30, 2024 [23] - The company plans to maintain a dividend payout of no less than RMB1.5 billion annually from 2024 to 2026, reflecting a commitment to returning value to shareholders [45] Q&A Session Summary Question: Reasons behind luxury car brands exiting the price war and impact of government policies - Management explained that the price war has lasted over 500 days, negatively affecting sales and brand image, leading luxury brands to withdraw from aggressive pricing [26][30] - Recent government policies are expected to drive around 2 million car sales this year, benefiting the NEV business [31][34] Question: Current situation of the used car market and dealer closures - The used car market is under pressure, with a 1% drop in sales year-over-year, and many potential sellers are hesitant due to price volatility [37] - Traditional ICE dealers are facing inevitable closures, with around 5,000 stores shut down in the first half of the year, reflecting industry restructuring [41] Question: Competition from internet platforms in lead generation and potential for dividends - Management acknowledged long-term competition in lead generation and emphasized content innovation and user experience enhancement as key strategies [43] - The company has a history of increasing dividend payouts and plans to maintain a significant payout ratio moving forward [45] Question: Expansion plans for the new retail model for NEVs - Autohome has established its Space stores in 28 cities and is testing the satellite store model in five cities, aiming to enhance coverage in low-tier markets [47]

Financial Performance - Net revenues for Q2 2024 were RMB1,872.6 million (US$257.7 million), a 2.2% increase from RMB1,833.0 million in Q2 2023[1] - Net income attributable to Autohome in Q2 2024 was RMB524.8 million (US$72.2 million), up from RMB504.7 million in Q2 2023, representing a 4.2% year-over-year growth[9] - Operating profit for Q2 2024 was RMB412.4 million (US$56.7 million), up from RMB341.5 million in Q2 2023, indicating a 20.8% increase[6] - Adjusted net income attributable to Autohome (Non-GAAP) was RMB572.4 million (US$78.8 million) in Q2 2024, slightly up from RMB569.5 million in Q2 2023[11] - Total net revenues for the three months ended June 2024 were RMB 1,872,554, a 2.2% increase from RMB 1,833,034 in the same period of 2023[22] - Net income attributable to Autohome for the three months ended June 2024 was RMB 524,761, compared to RMB 504,734 for the same period in 2023, reflecting a growth of 4.1%[24] - Adjusted EBITDA for the three months ended June 2024 was RMB 710,854, up from RMB 636,555 in the same period of 2023, representing an increase of 11.6%[24] - The net margin for the three months ended June 2024 improved to 28.0%, compared to 27.5% in the same period of 2023[24] - Basic earnings per share attributable to ordinary shareholders for the three months ended June 2024 was 1.05, an increase from 1.00 in the same period of 2023[22] - The company reported a gross profit of RMB 1,526,452 for the three months ended June 2024, compared to RMB 1,502,807 in the same period of 2023, indicating a growth of 1.6%[22] Revenue Breakdown - Media services revenues decreased to RMB432.9 million (US$59.6 million) in Q2 2024, down from RMB532.0 million in Q2 2023, a decline of 18.6%[3] - Leads generation services revenues increased to RMB820.3 million (US$112.9 million) in Q2 2024, compared to RMB759.6 million in Q2 2023, marking an 8.0% increase[3] Expenses and Liabilities - Total operating expenses for the three months ended June 2024 were RMB 1,185,337, a decrease of 3.5% from RMB 1,228,070 in the same period of 2023[22] - Income tax expense increased to RMB102.2 million (US$14.1 million) in Q2 2024, compared to RMB35.8 million in Q2 2023, primarily due to a withholding tax related to the declared cash dividend plan[8] - Total current liabilities rose to RMB 5,075,351 as of June 30, 2024, compared to RMB 4,350,777 as of December 31, 2023[26] - The company’s total liabilities increased to RMB 5,662,493 as of June 30, 2024, compared to RMB 4,881,880 as of December 31, 2023[26] Cash and Investments - Cash and cash equivalents and short-term investments totaled RMB23.47 billion (US$3.23 billion) as of June 30, 2024[12] - Cash and cash equivalents decreased to RMB 3,881,952 as of June 30, 2024, from RMB 4,996,353 as of December 31, 2023[26] - Interest and investment income for the three months ended June 2024 was RMB 189,053, down from RMB 202,813 in the same period of 2023, a decrease of 6.0%[22] Assets and Equity - As of June 30, 2024, total assets amounted to RMB 30,563,391, a slight decrease from RMB 30,835,731 as of December 31, 2023[26] - Total equity as reported under U.S. GAAP increased to RMB 23,838,220 as of June 30, 2024, compared to RMB 23,414,305 as of December 31, 2023[31] - The company reported a deferred revenue of RMB 1,156,160 as of June 30, 2024, an increase from RMB 801,581 as of December 31, 2023[26] - Goodwill and intangible assets, net, slightly decreased to RMB 4,106,799 as of June 30, 2024, from RMB 4,143,968 as of December 31, 2023[26] Strategic Initiatives - The company launched its Satellite Plan in May 2024 to establish satellite stores in lower-tier cities, aiming to enhance market penetration[2] - The company plans to continue focusing on market expansion and new product development to drive future growth[23] Shareholder Information - The weighted average shares used to compute diluted earnings per share for the three months ended June 2024 was 486,591,693, compared to 493,624,704 in the same period of 2023[24] - Share-based compensation expenses decreased to RMB 16,419 for the six months ended June 30, 2024, from RMB 36,304 for the same period in 2023[30]

Financial Performance - Autohome's Q2 2024 net revenue reached RMB 1,872.6 million (USD 257.7 million), compared to RMB 1,833.0 million in the same period last year[3] - Net profit attributable to Autohome in Q2 2024 was RMB 524.8 million (USD 72.2 million), up from RMB 504.7 million in Q2 2023[3] - Adjusted net profit (non-GAAP) for Q2 2024 was RMB 572.4 million (USD 78.8 million), slightly higher than RMB 569.5 million in Q2 2023[3] - Operating profit for Q2 2024 was RMB 412.4 million (USD 56.7 million), up from RMB 341.5 million in Q2 2023[8] - Net profit attributable to Autohome in Q2 2024 was RMB 524.8 million (USD 72.2 million), compared to RMB 504.7 million in the same period of 2023[9] - Net profit attributable to ordinary shareholders in Q2 2024 was RMB 509.7 million (USD 70.1 million), compared to RMB 491.2 million in Q2 2023[9] - Adjusted net profit (non-GAAP) attributable to Autohome in Q2 2024 was RMB 572.4 million (USD 78.8 million), compared to RMB 569.5 million in Q2 2023[9] - Net profit attributable to Autohome for Q2 2024 was RMB 524.76 million, a 4% increase from RMB 504.73 million in Q2 2023[20] - Adjusted EBITDA for Q2 2024 was RMB 710.85 million, up 11.7% from RMB 636.56 million in Q2 2023[20] - Adjusted net profit margin for Q2 2024 was 30.6%, compared to 31.1% in Q2 2023[20] - Revenue for the six months ended June 30, 2024, was RMB 882,440 thousand, a decrease from RMB 908,900 thousand in the same period in 2023[26] - Net profit under IFRS adjustments for the six months ended June 30, 2024, was RMB 126,264 thousand, compared to a loss of RMB 64,555 thousand in 2023[26] Revenue Breakdown - Media services revenue in Q2 2024 decreased to RMB 432.9 million (USD 59.6 million) from RMB 532.0 million in Q2 2023[5] - Leads generation services revenue grew to RMB 820.3 million (USD 112.9 million) in Q2 2024, up from RMB 759.6 million in Q2 2023[5] - Online marketing and other revenue increased to RMB 619.4 million (USD 85.2 million) in Q2 2024, compared to RMB 541.4 million in Q2 2023[5] - Net revenue for media services in Q2 2024 was RMB 432.858 million (USD 59.563 million), a decrease from RMB 532.005 million in Q2 2023[17] - Net revenue for lead generation services in Q2 2024 increased to RMB 820.271 million (USD 112.873 million) from RMB 759.635 million in Q2 2023[17] - Online marketing and other revenue in Q2 2024 rose to RMB 619.425 million (USD 85.236 million) from RMB 541.394 million in Q2 2023[17] - Total net revenue for Q2 2024 was RMB 1.872554 billion (USD 257.672 million), slightly up from RMB 1.833034 billion in Q2 2023[17] Earnings Per Share - Basic and diluted earnings per share in Q2 2024 were RMB 1.05 (USD 0.14), consistent with RMB 1.00 in Q2 2023[9] - Adjusted basic and diluted earnings per ADS in Q2 2024 were RMB 4.72 (USD 0.65) and RMB 4.71 (USD 0.65), respectively, compared to RMB 4.62 and RMB 4.61 in Q2 2023[9] - Basic earnings per share for Q2 2024 were RMB 1.05 (USD 0.14), compared to RMB 1.00 in Q2 2023[18] - Diluted earnings per ADS for Q2 2024 were RMB 4.19 (USD 0.58), up from RMB 3.98 in Q2 2023[18] - Basic adjusted earnings per ADS for Q2 2024 were RMB 4.72, up 2.2% from RMB 4.62 in Q2 2023[21] User Engagement and Business Expansion - Daily active users on Autohome's mobile platform reached 67.91 million in June 2024, representing an 8.3% year-over-year increase[4] - The company launched the "Satellite Plan" in May 2024, aiming to expand its business network in lower-tier cities through satellite stores[4] Expenses and Investments - R&D expenses in Q2 2024 were RMB 315.2 million (USD 43.4 million), slightly higher than RMB 313.0 million in Q2 2023[7] - Operating expenses for Q2 2024 decreased to RMB 1.185337 billion (USD 163.107 million) from RMB 1.228070 billion in Q2 2023[17] - Weighted average number of shares used in calculating basic EPS for Q2 2024 was 484,860,625, down from 492,534,428 in Q2 2023[19] - Lease expense adjustments under IFRS for the six months ended June 30, 2024, amounted to RMB 0.29 million, down from RMB 0.52 million in 2023[29] - Equity incentive expense adjustments under IFRS for the six months ended June 30, 2024, were RMB 16.42 million, a decrease from RMB 36.30 million in 2023[30] Cash Flow and Financial Position - Cash and cash equivalents, along with short-term investments, totaled RMB 23.47 billion (USD 3.23 billion) as of June 30, 2024[10] - Net cash flow from operating activities in Q2 2024 was RMB 452.0 million (USD 62.2 million)[10] - Total assets as of June 30, 2024 were RMB 30.56 billion, a slight decrease from RMB 30.84 billion at the end of 2023[23] - Cash and cash equivalents decreased to RMB 3.88 billion as of June 30, 2024 from RMB 4.99 billion at the end of 2023[23] - Total liabilities decreased to RMB 4.88 billion as of June 30, 2024 from RMB 5.66 billion at the end of 2023[23] - Equity attributable to Autohome shareholders increased to RMB 24.44 billion as of June 30, 2024 from RMB 23.93 billion at the end of 2023[23] - Short-term investments increased to RMB 19.59 billion as of June 30, 2024 from RMB 18.55 billion at the end of 2023[23] - Deferred revenue increased significantly to RMB 1.16 billion as of June 30, 2024 from RMB 801.58 million at the end of 2023[23] - Total equity under IFRS adjustments as of June 30, 2024, was RMB 25,237,684 thousand, up from RMB 24,586,787 thousand as of December 31, 2023[27] Company Mission and Strategy - The company’s mission is to reduce decision-making and transaction costs in the automotive industry through technology, offering services across the car purchase and usage lifecycle[13] Employee and Operational Data - Total number of employees as of June 30, 2024, was 5,078, including 1,755 employees from Tiantian Paiche[11] - Autohome will hold its earnings conference call on July 31, 2024, at 8:00 AM ET (8:00 PM Beijing Time)[11] IFRS Adjustments - The fair value adjustment for preferred shares under IFRS resulted in a profit of RMB 126.26 million for the six months ended June 30, 2024, compared to a loss of RMB 64.56 million in 2023[28]

Core Insights - Autohome Inc. reported solid financial results for Q2 2024, with net revenues of RMB1,872.6 million (US$257.7 million), reflecting a year-over-year increase of 2.2% from RMB1,833.0 million in Q2 2023 [2][4] - The company achieved a net income attributable to Autohome of RMB524.8 million (US$72.2 million), up from RMB504.7 million in the same period last year, indicating a growth of 4% [10][11] - Autohome's average mobile daily active users increased by 8.3% year-over-year, reaching 67.91 million in June 2024, highlighting its strong position in the automotive media sector [3] Financial Performance - Net revenues for Q2 2024 were RMB1,872.6 million (US$257.7 million), compared to RMB1,833.0 million in Q2 2023 [2][4] - Media services revenues decreased to RMB432.9 million (US$59.6 million) from RMB532.0 million in the previous year [4] - Leads generation services revenues increased to RMB820.3 million (US$112.9 million) from RMB759.6 million [4] - Online marketplace and other revenues rose to RMB619.4 million (US$85.2 million) from RMB541.4 million [4] Cost and Expenses - Cost of revenues for Q2 2024 was RMB346.1 million (US$47.6 million), up from RMB330.2 million in Q2 2023 [5] - Operating expenses decreased to RMB1,185.3 million (US$163.1 million) from RMB1,228.1 million in the same period last year [6] - Sales and marketing expenses were reduced to RMB752.5 million (US$103.6 million) from RMB824.1 million, primarily due to decreased marketing and promotional expenses [6] Profitability Metrics - Operating profit for Q2 2024 was RMB412.4 million (US$56.7 million), compared to RMB341.5 million in Q2 2023, reflecting a significant increase [8] - Adjusted net income attributable to Autohome (Non-GAAP) was RMB572.4 million (US$78.8 million), slightly up from RMB569.5 million in the previous year [12] - Basic and diluted earnings per share (EPS) were RMB1.05 (US$0.14) in Q2 2024, compared to RMB1.00 in Q2 2023 [11] Balance Sheet and Cash Flow - As of June 30, 2024, the company had cash and cash equivalents and short-term investments totaling RMB23.47 billion (US$3.23 billion) [13] - Net cash provided by operating activities in Q2 2024 was RMB452.0 million (US$62.2 million) [13] Strategic Initiatives - The company launched its Satellite Plan in May 2024, aimed at establishing satellite stores in lower-tier cities to enhance market penetration [3] - Autohome is focusing on innovative business areas, particularly in data products and new energy vehicles (NEV), which have shown double-digit year-over-year revenue growth [3]

Core Viewpoint - Autohome Inc. is set to report its financial results for Q2 and the first half of 2024 on July 31, 2024, before U.S. markets open, highlighting its ongoing commitment to transparency and investor engagement [1]. Group 1: Financial Reporting - The financial results will be announced before U.S. markets open on July 31, 2024 [1]. - An earnings conference call is scheduled for 8:00 AM U.S. Eastern Time on the same day, allowing stakeholders to engage directly with management [1]. Group 2: Company Overview - Autohome Inc. is recognized as the leading online platform for automobile consumers in China, focusing on reducing decision-making and transaction costs through advanced technology [3]. - The company offers a variety of content types, including occupationally generated, professionally generated, user-generated, and AI-generated content, along with a comprehensive automobile library [3]. - Autohome provides extensive services to automakers and dealers, including dealer subscription and advertising services, sales leads, data analysis, and marketing services, enhancing transaction efficiency [3]. - The company operates "Autohome Mall," a full-service online transaction platform, and offers additional value-added services such as auto financing, insurance, used car transactions, and aftermarket services [3].

Core Viewpoint - Autohome Inc. has successfully re-elected its board members during the 2023 annual general meeting, reinforcing its leadership in the online automobile market in China [1]. Group 1: Company Overview - Autohome Inc. is recognized as the leading online destination for automobile consumers in China, aiming to reduce decision-making and transaction costs in the auto industry through advanced technology [2]. - The company offers a variety of content types, including occupationally generated, professionally generated, user-generated, and AI-generated content, along with a comprehensive automobile library and extensive listing information [2]. - Autohome's platform serves as a preferred advertising venue for automakers and dealers, allowing them to market their inventory and services to millions of internet users in China [2]. Group 2: Services and Operations - The company provides sales leads, data analysis, and marketing services to enhance efficiency and facilitate transactions for automakers and dealers [2]. - Autohome operates "Autohome Mall," a full-service online transaction platform designed to facilitate transactions for automakers and dealers [2]. - Additional value-added services offered by Autohome include auto financing, auto insurance, used car transactions, and aftermarket services through its websites and mobile applications [2].

Core Viewpoint - Autohome Inc. has announced a cash dividend of US$0.5700 per ADS, reflecting strong cash flow and a solid balance sheet, with confidence in future growth prospects [1][3]. Dividend Announcement - The total amount of the dividend will be approximately RMB0.5 billion [2]. - Holders of ordinary shares must register their shares with the Hong Kong branch share registrar by 4:30 p.m. on July 10, 2024, to qualify for the dividend [2]. - The dividend is expected to be paid to ordinary shareholders around August 16, 2024, and to ADS holders around August 21, 2024 [2]. Company Overview - Autohome Inc. is the leading online platform for automobile consumers in China, aiming to reduce decision-making and transaction costs in the auto industry through advanced technology [4]. - The company provides a variety of content types, including user-generated and AI-generated content, and offers extensive automobile listing information [4]. - Autohome's services include dealer subscription and advertising, sales leads, data analysis, and a full-service online transaction platform called "Autohome Mall" [4].

Core Viewpoint - Autohome Inc. (NYSE:ATHM) is upgraded from a Hold to a Buy rating due to positive quarterly financial performance, favorable policy developments in China's automotive market, and a significant increase in dividend guidance for 2024 [2] Financial Performance - Autohome's revenue grew by +4.9% YoY from RMB1,533.6 million in Q1 2023 to RMB1,609.1 million in Q1 2024, exceeding consensus forecasts by +1.7% [3] - The new energy vehicle segment saw a substantial revenue increase of +49.6% YoY, contributing to the overall positive performance [4] - Normalized net profit attributable to shareholders rose by +2.2% YoY to RMB493.9 million, with a net margin of 30.7%, despite a slight decline of -0.8 percentage points YoY [4] Policy Developments - China is introducing a one-time subsidy of up to 10,000 yuan ($1,380) for consumers trading in old vehicles for new models, which is expected to boost new car sales [5] - Autohome is leveraging big data to identify potential customers and enhance automobile consumption, positioning itself favorably in light of the new subsidies [5] - Analysts project a +3.4% growth in revenue and +6.9% growth in operating income for Autohome in FY 2024, contrasting with declines in the previous year [5] Dividend Outlook - Autohome plans to distribute at least RMB1.5 billion in dividends annually from FY 2024 to FY 2026, translating to a forward dividend yield of 6% [6] - This marks a significant increase from previous dividend distributions of RMB1.0 billion in FY 2023 and RMB500 million in FY 2022, and a shift from annual to semi-annual payments [6] Valuation Perspective - Autohome is currently valued at 13.2 times the consensus next twelve months' normalized P/E, significantly lower than its historical 10-year mean P/E of 20.4 times [8] - The favorable policy environment and positive dividend outlook are expected to drive a re-rating of the stock towards its historical average P/E [8]

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 grew by 4.9% year-over-year to RMB1.61 billion, with adjusted net income attributable to Autohome increasing by 2.2% year-over-year to RMB494 million [5][15] - Adjusted net profit margin remained at a high level of 30.7% [5] - Gross margin improved to 81.3% from 77.8% in the same period last year [14] Business Line Data and Key Metrics Changes - Revenues from the online marketplace and others increased by 7% year-over-year, accounting for 34.5% of total revenues [5] - NEV business revenues surged by 49.6% year-over-year, significantly outpacing industry growth [10][14] - Revenue from dealer data products grew by 27% year-over-year, reflecting strong demand [11] Market Data and Key Metrics Changes - China's auto market retail sales increased by 13.1% year-on-year in Q1 2024, driven by price cuts and consumption promotion campaigns [20] - New energy vehicle (NEV) sales increased by 32% in early April, with penetration rates reaching 50.1% [24] Company Strategy and Development Direction - The company aims to leverage resources from Ping An Group to explore opportunities in automotive ecosystems and big data [6][7] - Autohome is focusing on integrating online and offline services, enhancing user experience through innovative tools and collaborations [6][10] - The company plans to continue refining its business framework to ensure sustainable development in both traditional and emerging sectors [6] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the positive impact of recent government policies on the auto market, which are expected to stimulate consumption [20][26] - The competitive landscape remains challenging, with ongoing price competition affecting profit margins [22] - Future growth in the used car market is anticipated due to supportive policies, despite current pressures from new car pricing [30] Other Important Information - Autohome's balance sheet remains strong with cash and short-term investments totaling RMB23.65 billion as of March 31, 2024 [16] - The company has committed to a dividend payout policy, distributing RMB1 billion in Q1 2024, with plans for continued dividends in the coming years [36][37] Q&A Session Summary Question: Impact of recent auto policy rollout on the market - Management highlighted that new policies are expected to promote auto trading and stimulate consumption, with specific subsidies for NEV and IPV clients [20][21] Question: Future growth potential for dealer data products - Management noted that the number of paid merchants for dealer data products has exceeded 20,000, indicating significant growth potential [27] Question: Strategy for the used car business amid new car price wars - Management discussed the slowdown in used car growth but expressed optimism due to supportive policies and improved trading mechanisms [30][31] Question: Outlook for the EV sector and recent Beijing Auto Show - Management reported strong interest in NEVs, with significant attendance at the Auto Show and a notable increase in NEV market penetration [35] Question: Use of cash and dividend policy - Management confirmed a commitment to shareholder returns through dividends, with plans for continued payouts in the coming years [36][37] Question: Outlook for media services business amid tight advertising budgets - Management acknowledged current pressures on advertising budgets but expects a return to normalcy as the market stabilizes [38]

Financial Performance - Net revenues for Q1 2024 were RMB1,609.1 million (US$222.9 million), a 4.9% increase from RMB1,533.6 million in Q1 2023[2] - Net income attributable to Autohome in Q1 2024 was RMB394.5 million (US$54.6 million), a decrease of 2.5% from RMB405.5 million in Q1 2023[9] - Operating profit for Q1 2024 was RMB276.1 million (US$38.2 million), up from RMB263.2 million in Q1 2023[7] - Adjusted net income attributable to Autohome (Non-GAAP) was RMB493.9 million (US$68.4 million), a 2.8% increase from RMB483.5 million in Q1 2023[11] - Gross profit for the same period was RMB 1,308,173, reflecting a gross margin of 81.3%[22] - The company reported a net margin of 24.5% for the three months ended March 2024, down from 26.4% in the same period last year[24] User Engagement - Average mobile daily active users grew by 8.1% year-over-year to 69.39 million in March 2024[3] Revenue Streams - Revenues from leads generation services increased by 6.7% to RMB726.4 million (US$100.6 million) in Q1 2024 compared to RMB680.6 million in Q1 2023[4] Earnings Per Share - Basic and diluted earnings per share (EPS) were RMB0.78 (US$0.11) in Q1 2024, down from RMB0.80 in Q1 2023[10] - Basic earnings per share for ordinary shares was RMB 0.80 for the three months ended March 2024, compared to RMB 0.78 in the same period last year[22] Operating Expenses - Operating expenses rose to RMB1,126.9 million (US$156.1 million) in Q1 2024, compared to RMB996.6 million in Q1 2023[6] Assets and Liabilities - Total current assets as of March 2024 were RMB 25,640,956, slightly up from RMB 25,524,988 as of December 31, 2023[26] - Total assets increased to RMB 30,856,381 as of March 2024, compared to RMB 30,835,731 as of December 31, 2023[26] - Total liabilities decreased to RMB 5,249,489 as of March 2024, down from RMB 5,662,493 as of December 31, 2023[26] Cash Position - Cash and cash equivalents and short-term investments totaled RMB23.65 billion (US$3.27 billion) as of March 31, 2024[12] - Cash and cash equivalents decreased to RMB 2,870,271 as of March 2024, compared to RMB 4,996,353 as of December 31, 2023[26] Strategic Initiatives - The company plans to expand its Autohome Space franchise stores geographically and has launched initiatives in response to the national "trade-in for new" policy[3]