Core Points - Autohome Inc. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC on April 25, 2024 [1] - The annual report includes audited consolidated financial statements and is accessible on the SEC's website and Autohome's investor relations website [1] - The same annual report has been published for Hong Kong purposes, in compliance with HKEX listing rules [2] Company Overview - Autohome Inc. is the leading online destination for automobile consumers in China, focusing on engaging, educating, and informing consumers about automotive topics [3] - The company provides 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 [3] - Autohome's platform is preferred by automakers and dealers for advertising campaigns, offering dealer subscription and advertising services to extend the reach of physical showrooms to millions of internet users in China [3] - The company also provides sales leads, data analysis, and marketing services to improve efficiency and facilitate transactions for automakers and dealers [3] - Additional value-added services offered include auto financing, auto insurance, used car transactions, and aftermarket services through its websites and mobile applications [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

BEIJING, April 24, 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 report its financial results for the first quarter ended March 31, 2024, before U.S. markets open on May 8, 2024. Autohome's management team will host an earnings conference call at 8:00 a.m. Eastern Time in the U.S. on Wednesday, May 8, 2024 (or 8:00 p.m. Beijing time on the same day). Please register in ...

Core Insights - The article discusses the performance and potential of large-cap value stocks, particularly focusing on dividend yields and analyst projections for future gains [5][6][10]. Group 1: Value Ranking and Strategy - The Value Score is a composite score that evaluates stocks based on their price relative to profits, cash flows, assets, and sales, helping investors identify undervalued stocks [2]. - The Ben Graham Formula strategy emphasizes ultra-stable stocks with a strong track record of earnings and dividends, selecting large companies with favorable financial ratios [3]. Group 2: Dividend Performance - As of April 18, 2024, dividends from $1,000 investments in 54 out of 65 identified stocks met or exceeded their share prices, indicating strong dividend performance [5][11]. - The average net gain from investing in the top ten All-Star-Value stocks is estimated at 37.36% based on dividends and price appreciation [6]. Group 3: Analyst Projections - Analysts project significant net gains for top All-Star-Value stocks, with estimates ranging from 29.10% to 57.54% by April 2025 [6]. - Specific stocks like Sociedad Quimica Y Minera De Chile SA (SQM) and Vale SA (VALE) are highlighted for their strong projected returns, with SQM expected to net $575.36 and VALE $523.24 [6]. Group 4: Market Sentiment and Stock Selection - The article categorizes stocks as "dogs" based on their reliable dividends and price declines, suggesting that these stocks may offer better value compared to peers [7]. - The top ten All-Star-Value stocks represent a diverse range of sectors, with significant upside potential based on analyst price targets [9][10].

Autohome Inc. (ATHM) closed the last trading session at $27.15, gaining 9.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $34.57 indicates a 27.3% upside potential.The mean estimate comprises seven short-term price targets with a standard deviation of $6.53. While the lowest estimate of $27 indicates a 0.6% decline from the current price level, the most optimistic analyst expect ...

Financial Data and Key Metrics Changes - Total net revenues for 2023 grew by 3.5% year-over-year to RMB7.18 billion [5][18] - Adjusted net income attributable to Autohome for the year was RMB2.16 billion with an adjusted net margin of 30.1% [6][18] - Net revenues for Q4 2023 were RMB1.91 billion, with a gross margin of 80.8% compared to 80.4% in Q4 2022 [17][18] - Adjusted net income for Q4 2023 was RMB503 million, down from RMB669 million in the corresponding period of 2022 [18] Business Line Data and Key Metrics Changes - Revenues from the online marketplace and others business increased by 14.6% year-over-year, accounting for 30.6% of total revenue [5][18] - NEV business revenues increased by over 80% year-over-year, accounting for nearly 18% of total revenue [6][12] - TTP delivered a year-over-year revenue growth of over 10% [15] Market Data and Key Metrics Changes - Mobile DAUs increased by 25.4% year-over-year to reach 68.19 million in December 2023 [10] - NEV penetration rate increased from 28% in 2022 to 35% in 2023, expected to reach 40% in 2024 [25] Company Strategy and Development Direction - The company aims to enhance collaboration with Ping An Group to create a closed-loop ecosystem for car owners [8][33] - Focus on improving content quality and reinforcing Autohome as the leading authority in the automotive space [8] - Plans to expand the Autohome Energy Space stores to around 50 cities by the end of 2024 [12][43] Management Comments on Operating Environment and Future Outlook - The auto market in China is expected to stabilize in 2024 with a projected growth of 3% [25] - The company acknowledges challenges such as price wars and squeezed margins in the industry [24] - Management remains optimistic about the NEV market and its growth potential [12][25] Other Important Information - The company completed a US$200 million share repurchase program and significantly increased the dividend payout to shareholders [6][19] - Cash, cash equivalents, and short-term investments stood at RMB23.55 billion as of December 31, 2023 [19] Q&A Session Summary Question: Industry outlook for 2023 and trends for 2024 - Management noted a historical high in auto sales volume in 2023, with a 5.3% increase in passenger car sales, primarily driven by NEV cars [23] - Challenges include competitive pricing and low margins, with 50.3% of dealers suffering losses in the first half of 2023 [24] Question: Expectations for margin trends in Q1 2024 and strategies for synergies with Ping An Group - Management acknowledged a slight decline in gross margin due to increased costs from diversified content and user experience enhancements [30] - The synergy between Autohome and Ping An Group is expected to enhance service quality and create a closed-loop ecosystem for car users [33] Question: Impact of declining scale of traditional OEMs on leads generation and future dividend plans - Management indicated that traditional combustion cars still dominate sales, but the shift towards NEVs is expected to continue [37] - The company plans to maintain a dividend payout of no less than RMB1 billion from 2024 to 2026, reflecting strong financial health [41] Question: Revenue contribution and costs associated with the expansion of Energy Space stores - Management plans to open 30 new Energy Space stores in 2024, with stable costs due to a franchising model [43] - Revenue from existing stores reached RMB16 million in Q4 2023, with expectations for growth as more stores mature [44]

Financial Performance - In Q4 2023, Autohome's total net revenue was RMB 1,911.4 million (USD 269.2 million), a slight increase from RMB 1,893.3 million in Q4 2022[10] - The net profit attributable to Autohome in Q4 2023 was RMB 446.7 million (USD 62.9 million), down from RMB 594.1 million in the same period last year[16] - For the full year 2023, total net revenue reached RMB 7,184.1 million (USD 1,011.9 million), compared to RMB 6,940.8 million in 2022, marking a year-on-year growth[9] - The adjusted net profit for 2023 was RMB 2,159.6 million (USD 304.2 million), slightly down from RMB 2,168.3 million in 2022[9] - The net profit attributable to Autohome in 2023 was RMB 1,935.3 million (USD 272.6 million), compared to RMB 1,855.2 million in 2022, reflecting an increase of approximately 4.3%[26] - The adjusted net profit for 2023 was RMB 2,159.6 million (USD 304.2 million), slightly down from RMB 2,168.3 million in 2022, indicating a decrease of about 0.4%[29] - The operating profit for 2023 was RMB 1,137.4 million (USD 160.2 million), down from RMB 1,247.5 million in 2022, representing a decrease of about 8.8%[24] - The adjusted EBITDA for Q4 2023 was RMB 671,527, down 15% from RMB 789,460 in Q4 2022[43] - The net profit margin for Q4 2023 was 23.4%, down from 31.4% in Q4 2022[43] - The company reported a decrease in operating profit for Q4 2023 to RMB 366,714, down 28.5% from RMB 513,289 in Q4 2022[41] User Engagement and Growth - Autohome's mobile daily active users reached 68.19 million in December 2023, a 25.4% increase year-on-year, indicating effective user growth strategies[9] - The company plans to continue exploring new growth avenues and enhancing its market position in collaboration with Ping An Group[9] - Autohome Inc. is focused on enhancing user retention and brand awareness in the competitive online automotive advertising market[36] - The company anticipates growth in the Chinese online automotive advertising market, which may impact future business development[36] - Autohome Inc. is committed to ongoing product and service demand assessment to align with market acceptance[36] Expenses and Costs - Operating costs for 2023 were RMB 1,411.9 million (USD 198.9 million), up from RMB 1,235.2 million in 2022, indicating a year-over-year increase of about 14.3%[21] - The total operating expenses in 2023 amounted to RMB 4,898.9 million (USD 690.0 million), slightly higher than RMB 4,785.6 million in 2022, showing an increase of approximately 2.4%[23] - Research and development expenses in Q4 2023 were RMB 355.9 million (USD 50.1 million), up from RMB 312.9 million in Q4 2022[17] - Research and development expenses for Q4 2023 were RMB 355,924, an increase of 13.7% from RMB 312,903 in Q4 2022[41] Shareholder Returns and Stock Performance - The company completed a USD 200 million stock repurchase program by the end of 2023, enhancing shareholder returns[9] - The diluted earnings per share for the full year 2023 was RMB 3.83, compared to RMB 3.62 in 2022, reflecting a growth of 5.8%[41] Cash Flow and Assets - As of December 31, 2023, the company had cash and cash equivalents totaling RMB 23.55 billion (USD 3.32 billion) and net cash flow from operating activities of RMB 2,451.4 million (USD 345.3 million)[30] - Total assets increased from RMB 29,715,819 in 2022 to RMB 30,835,731 in 2023, representing a growth of 3.8%[45] - Cash and cash equivalents rose significantly from RMB 2,801,299 in 2022 to RMB 4,996,353 in 2023, an increase of 78.5%[45] Liabilities and Equity - Total current liabilities increased from RMB 4,058,676 in 2022 to RMB 5,075,351 in 2023, reflecting a rise of 25.0%[45] - Total liabilities grew from RMB 4,627,193 in 2022 to RMB 5,662,493 in 2023, marking an increase of 22.4%[45] - Shareholders' equity remained relatively stable, with a slight decrease from RMB 23,482,987 in 2022 to RMB 23,414,305 in 2023, a decline of 0.3%[45] Risks and Strategic Initiatives - Autohome Inc. is subject to various risks, including economic fluctuations and regulatory changes in China, which could affect its future outlook[36] - The company plans to continue its strategic initiatives to improve operational performance and financial stability[36] - The management highlighted the significance of evaluating business trends consistently across reporting periods using adjusted financial metrics[38] Communication and Reporting - Autohome Inc. will provide updates on its performance and strategies through regular SEC filings and announcements on the Hong Kong Stock Exchange[36] - The company’s investor relations team is available for inquiries to provide further insights into its financial performance and strategies[39]

Financial Performance - In Q4 2023, Autohome's total net revenue was RMB 1,911.4 million (USD 269.2 million), a slight increase from RMB 1,893.3 million in Q4 2022[10]. - The net profit attributable to Autohome in Q4 2023 was RMB 446.7 million (USD 62.9 million), down from RMB 594.1 million in the same period last year[16]. - For the full year 2023, total net revenue reached RMB 7,184.1 million (USD 1,011.9 million), compared to RMB 6,940.8 million in 2022, marking a year-on-year growth[9]. - The adjusted net profit for 2023 was RMB 2,159.6 million (USD 304.2 million), slightly down from RMB 2,168.3 million in 2022[9]. - The company reported a Q4 operating profit of RMB 366.7 million (USD 51.7 million), down from RMB 513.3 million in the same quarter of the previous year[14]. - The net profit attributable to ordinary shareholders was RMB 432.1 million (USD 60.9 million), down from RMB 580.9 million in the same period of 2022, representing a decrease of approximately 25.6%[18]. - The adjusted net profit for Q4 2023 was RMB 502.8 million (USD 70.8 million), compared to RMB 668.5 million in Q4 2022, reflecting a decline of about 25%[19]. - For the full year 2023, total revenue reached RMB 7,184.1 million (USD 1,011.9 million), an increase from RMB 6,940.8 million in 2022, marking a growth of approximately 3.5%[20]. - The operating profit for 2023 was RMB 1,137.4 million (USD 160.2 million), down from RMB 1,247.5 million in 2022, which is a decrease of around 8.8%[24]. - The net profit attributable to Autohome in 2023 was RMB 1,935.3 million (USD 272.6 million), compared to RMB 1,855.2 million in 2022, reflecting a growth of about 4.3%[26]. User Engagement and Market Strategy - Autohome's mobile daily active users reached 68.19 million in December 2023, a 25.4% increase year-on-year, indicating effective user growth strategies[9]. - The company is focused on enhancing brand awareness and user retention in the competitive online automotive advertising market[36]. - Autohome's future business development and operational strategies are subject to various risks and uncertainties, including market competition and regulatory environment[36]. - The company plans to continue expanding its market presence and exploring new strategies for growth[36]. Expenses and Investments - R&D expenses in Q4 2023 were RMB 355.9 million (USD 50.1 million), up from RMB 312.9 million in Q4 2022, reflecting ongoing investment in new technologies[17]. - Operating costs for 2023 were RMB 1,411.9 million (USD 198.9 million), up from RMB 1,235.2 million in 2022, indicating a year-over-year increase of about 14.3%[21]. - The total operating expenses in 2023 amounted to RMB 4,898.9 million (USD 690.0 million), slightly higher than RMB 4,785.6 million in 2022, showing an increase of approximately 2.4%[23]. Cash Flow and Financial Position - As of December 31, 2023, the company had cash and cash equivalents totaling RMB 23.55 billion (USD 3.32 billion) and net cash flow from operating activities of RMB 2,451.4 million (USD 345.3 million)[30]. - Total assets increased from RMB 29,715,819 in 2022 to RMB 30,835,731 in 2023, representing a growth of 3.8%[45]. - Cash and cash equivalents rose significantly from RMB 2,801,299 in 2022 to RMB 4,996,353 in 2023, an increase of 78.5%[45]. - Total current liabilities increased from RMB 4,058,676 in 2022 to RMB 5,075,351 in 2023, reflecting a rise of 25.0%[45]. - Shareholders' equity remained relatively stable, with a slight decrease from RMB 23,482,987 in 2022 to RMB 23,414,305 in 2023, a decline of 0.3%[45]. Financial Reporting and Metrics - Autohome reported adjusted net profit, excluding non-cash expenses, to provide a clearer view of operational performance[38]. - The company emphasizes the importance of adjusted EBITDA as a key financial metric for assessing business trends[38]. - Autohome's management believes that non-GAAP financial indicators are crucial for investors to understand the company's core operating performance[38]. - The company aims to maintain transparency in its financial reporting by providing reconciliations between GAAP and non-GAAP measures[38]. - The company has a dedicated investor relations team to address inquiries and provide updates on financial performance[39]. - Autohome's financial disclosures include forward-looking statements that may differ from actual results due to inherent risks[36].

Core Insights - Autohome Inc. reported solid growth in total revenues and user traffic for the year 2023, with net revenues reaching RMB7.18 billion (US$1.01 billion), a year-over-year increase of 3.5% from RMB6.94 billion in 2022 [3][4] - The company experienced a decline in net income attributable to Autohome in Q4 2023, amounting to RMB446.7 million (US$62.9 million), down from RMB594.1 million in Q4 2022 [11][12] - Autohome's adjusted net income (Non-GAAP) for 2023 was RMB2.16 billion (US$304.2 million), slightly down from RMB2.17 billion in 2022 [21][28] Financial Performance Fourth Quarter 2023 Highlights - Net revenues were RMB1,911.4 million (US$269.2 million), a slight increase from RMB1,893.3 million in Q4 2022 [2][5] - Media services revenues decreased to RMB500.5 million (US$70.5 million) from RMB610.2 million in the same period last year [5] - Leads generation services revenues increased to RMB841.5 million (US$118.5 million) from RMB786.8 million [5] - Online marketplace and others revenues rose to RMB569.5 million (US$80.2 million) from RMB496.2 million [5] Full Year 2023 Highlights - Net income attributable to Autohome was RMB1,935.3 million (US$272.6 million), up from RMB1,855.2 million in 2022 [3][20] - Media services revenues for the year were RMB1,870.8 million (US$263.5 million), down from RMB1,963.3 million [14] - Leads generation services revenues increased to RMB3,111.8 million (US$438.3 million) from RMB3,056.9 million [14] - Online marketplace and others revenues grew significantly to RMB2,201.5 million (US$310.1 million) from RMB1,920.6 million [14] Cost and Expenses - Cost of revenues for Q4 2023 was RMB367.9 million (US$51.8 million), slightly down from RMB370.6 million in Q4 2022 [6] - Operating expenses increased to RMB1,242.8 million (US$175.0 million) from RMB1,088.3 million in the same quarter last year [7] - Sales and marketing expenses rose to RMB730.1 million (US$102.8 million) from RMB672.6 million [8] Profitability Metrics - Operating profit for Q4 2023 was RMB366.7 million (US$51.7 million), down from RMB513.3 million in Q4 2022 [9] - The company reported an income tax expense of RMB127.6 million (US$18.0 million) in Q4 2023, compared to RMB76.9 million in Q4 2022 [10] - Basic and diluted earnings per share (EPS) for Q4 2023 were RMB0.89 (US$0.13), down from RMB1.18 in Q4 2022 [12] User Engagement and Growth - Autohome's mobile daily active users grew by 25.4% year-over-year to 68.19 million in December 2023, reflecting the effectiveness of its content-focused user growth strategy [4] - The online marketplace and others business segment grew by 14.6% year-over-year, contributing significantly to total revenue [4] Shareholder Returns - The company completed a US$200 million share repurchase program by the end of 2023 [4] - Autohome significantly increased its dividend payout to shareholders, demonstrating a commitment to generating returns for investors [4]

BEIJING, Jan. 25, 2024 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome" or the "Company"), a leading online destination for automobile consumers in China, today announced that it will report its financial results for the fourth quarter and full year ended December 31, 2023, before U.S. markets open on February 6, 2024.Autohome's management team will host an earnings conference call at 7:00 AM U.S. Eastern Time on Tuesday, February 6, 2024 (8:00 PM Beijing Time on the same day).Please regis ...