BEIJING, June 21, 2024 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today announced that the following proposed resolution submitted for shareholder approval has been adopted as an ordinary resolution at its 2023 annual general meeting of shareholders held in Beijing today:Each of Mr. Quan Long, Mr. Tao Wu, Ms. Keke Ding and Dr. Fan Lu is re-elected as a director of the Company.About Autohome Inc.Autoh ...

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].

Blackstation/DigitalVision via Getty ImagesElevator Pitch I rate Autohome Inc. (NYSE:ATHM) [2518:HK] stock as a Buy. My prior October 12, 2023 write-up was focused on ATHM's mixed financial prospects. This update touches on ATHM's recent quarterly financial performance, the latest policy development for China's automotive market, and the company's dividend guidance. Autohome is guiding for a +50% increase in dividend distributions for full-year 2024. Separately, the company's 2024 financial performance ...

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]

Financial Performance - For Q1 2024, Autohome reported total net revenue of RMB 1,609.1 million (USD 222.9 million), an increase from RMB 1,533.6 million in Q1 2023, reflecting a year-over-year growth of 4.9%[9] - The net profit attributable to Autohome for Q1 2024 was RMB 394.5 million (USD 54.6 million), slightly down from RMB 405.5 million in Q1 2023, indicating a decrease of 2.5%[16] - Operating profit for Q1 2024 was RMB 276.1 million (USD 38.2 million), up from RMB 263.2 million in Q1 2023, marking a growth of 4.0%[13] - The adjusted net profit for Q1 2024 was RMB 493.9 million (USD 68.4 million), up from RMB 483.5 million in Q1 2023, indicating a growth of 2.8%[9] - Basic and diluted earnings per share for Q1 2024 were RMB 0.78 (USD 0.11), compared to RMB 0.80 in Q1 2023, reflecting a decrease of 2.5%[17] - Adjusted basic and diluted earnings per share for Q1 2024 were RMB 1.02 (USD 0.14), compared to RMB 0.98 in Q1 2023, reflecting a growth of 4.1%[18] - The gross profit for the same period was RMB 1,308,173, reflecting a gross margin of 81.3%[30] - The net profit margin for the three months ended March 31, 2024, was 24.5%, down from 26.4% in 2023[33] - Adjusted EBITDA for the three months ended March 31, 2024, was RMB 555,732, compared to RMB 566,486 in the same period of 2023[33] User Engagement and Growth - Daily active users on the mobile platform reached 69.39 million in March 2024, representing an 8.1% year-over-year increase, showcasing the effectiveness of the company's content-driven user growth strategy[8] - Revenue from data products continued to show strong growth, particularly from new energy vehicle companies, contributing positively to the overall revenue structure[8] - The company launched a series of promotional activities in response to the national "old-for-new" policy, enhancing consumer engagement and market penetration[8] Expenses and Investments - Research and development expenses for Q1 2024 amounted to RMB 336.1 million (USD 46.5 million), compared to RMB 324.4 million in Q1 2023, reflecting a year-over-year increase of 3.0%[14] - Sales and marketing expenses increased to RMB 641.3 million (USD 88.8 million) in Q1 2024, up from RMB 523.1 million in Q1 2023, primarily due to higher marketing costs[14] Cash Flow and Assets - As of March 31, 2024, the total cash and cash equivalents, along with short-term investments, amounted to RMB 23.65 billion (USD 3.27 billion)[19] - Net cash flow from operating activities for Q1 2024 was RMB 560.8 million (USD 77.7 million)[19] - Total assets as of March 31, 2024, were RMB 30,856,381, slightly up from RMB 30,835,731 as of December 31, 2023[35] - Cash and cash equivalents decreased to RMB 2,870,271 as of March 31, 2024, from RMB 4,996,353 as of December 31, 2023[35] Strategic Focus and Future Plans - The company aims to leverage technology to continuously reduce decision-making and transaction costs in the automotive industry[25] - Autohome provides a comprehensive range of services including automotive finance, insurance, used car transactions, and after-sales services[25] - The company emphasizes the importance of adjusted non-GAAP financial metrics to provide a clearer view of its operational performance[27] - Autohome's strategic focus includes enhancing brand awareness and user retention in the competitive online automotive advertising market[26] - The company plans to continue investing in new technologies and market expansion strategies to drive future growth[30] Conference and Employee Information - The total number of employees as of March 31, 2024, was 5,420, including 2,092 employees from Tian Tian Pai Che[20] - Autohome will hold its earnings conference call on May 8, 2024, at 8:00 AM ET (8:00 PM Beijing time)[21]

Core Viewpoint - Autohome Inc. reported solid financial results for the first quarter of 2024, showcasing revenue growth and user base expansion, while also highlighting the successful implementation of new business initiatives [2][3]. Financial Performance - Net revenues for Q1 2024 were RMB1,609.1 million (US$222.9 million), an increase from RMB1,533.6 million in Q1 2023, representing a year-over-year growth of 4.9% [2][4]. - Net income attributable to Autohome in Q1 2024 was RMB394.5 million (US$54.6 million), a slight decrease from RMB405.5 million in Q1 2023 [10]. - Adjusted net income attributable to Autohome (Non-GAAP) was RMB493.9 million (US$68.4 million), up from RMB483.5 million in the same period last year [12]. Revenue Breakdown - Media services revenues were RMB327.4 million (US$45.3 million) in Q1 2024, down from RMB361.5 million in Q1 2023 [4]. - Leads generation services revenues increased to RMB726.4 million (US$100.6 million) from RMB680.6 million year-over-year [4]. - Online marketplace and other revenues rose to RMB555.2 million (US$76.9 million) from RMB491.5 million in the previous year [4]. Cost and Expenses - Cost of revenues decreased to RMB300.9 million (US$41.7 million) in Q1 2024 from RMB340.2 million in Q1 2023 [5]. - Operating expenses increased to RMB1,126.9 million (US$156.1 million) from RMB996.6 million year-over-year [6]. - Sales and marketing expenses rose significantly to RMB641.3 million (US$88.8 million) from RMB523.1 million in Q1 2023, primarily due to increased marketing efforts [7]. Profitability Metrics - Operating profit for Q1 2024 was RMB276.1 million (US$38.2 million), compared to RMB263.2 million in Q1 2023 [8]. - The income tax expense for Q1 2024 was RMB68.4 million (US$9.5 million), up from RMB54.7 million in the same period last year [9]. Earnings Per Share - Net income attributable to ordinary shareholders was RMB379.8 million (US$52.6 million) in Q1 2024, down from RMB392.8 million in Q1 2023 [11]. - Basic and diluted earnings per share (EPS) were RMB0.78 (US$0.11) in Q1 2024, compared to RMB0.80 and RMB0.79 in Q1 2023 [11]. Cash Flow and Balance Sheet - As of March 31, 2024, the company had cash and cash equivalents and short-term investments totaling RMB23.65 billion (US$3.27 billion) [13]. - Net cash provided by operating activities in Q1 2024 was RMB560.8 million (US$77.7 million) [13]. User Engagement and Business Initiatives - Average mobile daily active users grew by 8.1% year-over-year to 69.39 million in March 2024, indicating effective user engagement strategies [3]. - The company is expanding its innovative business initiatives, including the Autohome Space franchise stores and responding to national policies to enhance consumer benefits [3].

BEIJING, April 25, 2024 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today announced that it will hold its annual general meeting of shareholders (the "AGM") at 18th Floor Tower B, CEC Plaza, 3 Dan Ling Street, Haidian District, Beijing, The People's Republic of China on June 21, 2024 at 4:00 p.m. (Beijing time). Holders of record of ordinary shares of the Company at the close of business on May 23, 20 ...

Exhibit 99.1 RECONCILIATION BETWEEN U.S. GAAP AND INTERNATIONAL FINANCIAL REPORTING STANDARDS The consolidated financial statements are prepared in accordance with U.S. GAAP, which differ in certain respects from International Financial Reporting Standards (“IFRS”). The effects of material differences between the consolidated financial statements of the Group prepared under U.S. GAAP and IFRS are as follows: Reconciliation of audited consolidated statements of comprehensive income: For the year ended Decemb ...

Corporate Structure and Governance - Autohome Inc. reported a total of 483,398,100 ordinary shares outstanding as of December 31, 2023, excluding 25,989,500 shares reserved for the share incentive plan and repurchased shares[7]. - The company is classified as a large accelerated filer under the Securities Exchange Act[8]. - Autohome Inc. has chosen to prepare its financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP)[9]. - The company conducted a 1-for-4 stock split approved by shareholders in February 2021, adjusting the American Depositary Shares (ADS) ratio accordingly[13]. - The company operates through a structure that includes a Cayman Islands holding company and variable interest entities to comply with Chinese laws and regulations regarding foreign ownership[19]. - The company has established a series of contractual arrangements with its variable interest entities and their respective shareholders, which include exclusive technology consulting and service agreements[20]. - The company is considered a Passive Foreign Investment Company (PFIC) for U.S. federal income tax purposes, which may have adverse tax consequences for U.S. holders[59]. - The company controls variable interest entities and consolidates their operating results into its consolidated U.S. GAAP financial statements[200]. Financial Performance - The company reported a compound annual growth rate (CAGR) in key performance metrics, reflecting strong operational performance[12]. - User data shows a steady increase in engagement on the platform, contributing to overall revenue growth[11]. - Financial disclosures indicate a robust financial position with significant liquidity to support ongoing operations and investments[11]. - Total revenue for the period reached RMB 7,184,135 thousand, with third-party revenue contributing RMB 6,028,836 thousand, representing a significant portion of total income[41]. - The company reported a net profit of RMB 1,925,409 thousand, with a pre-tax profit of RMB 1,997,564 thousand, indicating strong profitability[41]. - The total costs and expenses amounted to RMB 6,310,811 thousand, highlighting the company's operational expenditures[41]. - The company recognized share of profits from subsidiaries at RMB 1,922,857 thousand, while variable interest entity losses were recorded at RMB 112,791 thousand[41]. - Autohome Inc. paid total cash dividends of $105.7 million, $61.1 million, and $69.2 million for the fiscal years 2021, 2022, and 2023 respectively[37]. - Total dividends paid by Chinese subsidiaries to Autohome Inc. were RMB 681.4 million, RMB 1,430.0 million, and RMB 2,000.0 million (approximately $281.7 million) for the years ending December 31, 2021, 2022, and 2023[35]. Market and Competitive Landscape - The company primarily operates in mainland China, with nearly all revenue denominated in Renminbi[13]. - The company is actively pursuing strategies to enhance its competitive edge in the automotive online auction market[12]. - The online automotive advertising industry may not grow at the predicted rates, which could significantly impact the company's business and the market price of its American depositary shares and/or ordinary shares[16]. - The company faces significant risks related to its reliance on the Chinese automotive industry, which is subject to various uncertainties including government regulations and policies[53]. - Intense competition in the market may lead to a loss of market share, adversely affecting the company's business and financial performance[53]. - The company’s revenue heavily depends on a limited number of automotive manufacturer clients, which poses a risk to its future prospects if it fails to maintain or increase revenue from these clients[54]. Regulatory Environment - The company emphasizes adherence to regulatory standards and governance practices to maintain investor confidence[12]. - The company is subject to the Foreign Company Accountability Act (HFCAA), which could restrict trading of its shares in the U.S. if its auditor is not inspected by the PCAOB for two consecutive years[26]. - The PCAOB has removed mainland China and Hong Kong from the list of jurisdictions where it cannot fully inspect or investigate audit firms, which may alleviate some compliance concerns for the company[27]. - The company is exposed to regulatory risks that could significantly affect its ability to sell securities to investors, particularly in light of evolving laws regarding foreign investments[24]. - The company faces potential administrative penalties if it fails to comply with the new filing requirements under the overseas listing trial measures[30]. - The company must comply with Chinese cybersecurity laws, which may impose obligations on data storage and procurement processes[31]. - The company faces potential penalties from regulatory bodies if it fails to comply with data privacy and cybersecurity regulations in China[32]. Risks and Uncertainties - The company acknowledges the presence of various risks and uncertainties that could lead to actual performance differing materially from its forward-looking statements[15]. - The management is unable to predict all risk factors and uncertainties that may affect the company's business performance[15]. - The company faces significant risks related to its contractual arrangements with variable interest entities, which may not provide effective control compared to direct equity ownership[22]. - Uncertainties regarding the interpretation and application of current and future Chinese laws and regulations could impact the enforceability of the company's agreements with variable interest entities, potentially affecting overall financial performance[23]. - The company faces significant credit risk in recovering accounts receivable from automotive manufacturers due to the limited number of clients and the current downturn in the domestic automotive market[84]. - The company may face lawsuits and government investigations related to competition, intellectual property, and consumer protection, which could negatively impact its operations[106]. Strategic Initiatives and Future Outlook - The company has a significant focus on developing new technologies and products to enhance its market position[11]. - Future outlook indicates a commitment to market expansion and potential mergers and acquisitions to drive growth[11]. - The company aims to enhance brand awareness and attract, retain, and motivate key personnel as part of its future business development strategy[15]. - The company is exploring new business models in the electric vehicle sector, including opening offline experience stores in 20 cities to build brand awareness[71]. - The company plans to expand its infrastructure and technology to support ongoing business growth, requiring adjustments to local business practices and employee training[68]. Compliance and Legal Challenges - The company is subject to audits and scrutiny from Chinese tax authorities regarding related party transactions, which could lead to unfavorable tax outcomes[140]. - The company faces significant adverse impacts on liquidity and fundraising capabilities due to regulations on loans and direct investments from offshore holding companies to mainland China entities[145]. - The company may face significant adverse tax consequences if transfer pricing adjustments are made by the Chinese tax authorities, impacting its financial performance[140]. - The company must allocate valuable resources to comply with the revised tax regulations, which may adversely affect its financial condition and operational performance[187]. - The company is required to comply with the Social Insurance Law, which mandates participation in various employee insurance programs[194]. Human Resources and Labor Costs - The company anticipates continued increases in labor costs due to rising average wages in China, which may adversely affect profitability unless these costs can be passed on to users and customers[193]. - The loss of key management personnel could severely impact the company's operations and financial performance, leading to increased recruitment and training costs[117]. - The company faces intense competition in recruiting and retaining skilled talent in the automotive and internet advertising sectors, which could impact future performance[118]. Financial Risks and Currency Exposure - The company’s revenue and costs are primarily denominated in RMB, and fluctuations in the RMB/USD exchange rate could significantly impact financial performance[176]. - The company has not entered into any hedging transactions to mitigate foreign exchange risks, which may lead to substantial currency losses due to limited hedging options available in mainland China[177]. - Regulatory restrictions on currency exchange by the Chinese government may hinder the company's ability to effectively utilize its income and impact shareholder dividend payments[178].