Financial Performance - Net revenues for Q1 2023 were RMB1,533.6 million (US$223.3 million), a 4.2% increase from RMB1,471.3 million in Q1 2022[2] - Net income attributable to Autohome was RMB405.5 million (US$59.0 million), up 27.4% from RMB318.2 million in the same period last year[12] - Adjusted net income (Non-GAAP) was RMB483.5 million (US$70.4 million), compared to RMB437.5 million in Q1 2022, reflecting a growth of 10.5%[14] - Operating profit for Q1 2023 was RMB263.2 million (US$38.3 million), an increase from RMB241.2 million in Q1 2022[10] - Total net revenues for the three months ended March 2023 were RMB 1,533,629, representing a 4.2% increase from RMB 1,471,292 in the same period of 2022[26] - Adjusted net income attributable to Autohome for the three months ended March 2023 was RMB 483,511, up from RMB 437,533 in the same period of 2022, reflecting a growth of 10.5%[28] - The net margin for the three months ended March 2023 improved to 26.4%, compared to 21.6% in the same period of 2022[28] - Adjusted EBITDA for the three months ended March 2023 was RMB 566,486, an increase from RMB 436,555 in the same period of 2022, indicating a growth of 29.8%[28] - Basic earnings per share for ordinary shares increased to 0.80 for the three months ended March 2023, compared to 0.61 in the same period of 2022, representing a growth of 31.1%[26] - The company reported operating profit of RMB 263,165 for the three months ended March 2023, up from RMB 241,236 in the same period of 2022, reflecting an increase of 9.1%[26] - Interest and investment income for the three months ended March 2023 was RMB 225,015, significantly higher than RMB 90,768 in the same period of 2022, marking an increase of 147.5%[26] - Total operating expenses decreased to RMB 996,638 for the three months ended March 2023, down from RMB 1,084,063 in the same period of 2022, a reduction of 8.1%[26] User Engagement - Mobile daily active users reached 64.15 million in March 2023, representing a 41.9% year-over-year growth[3] - The number of dealer customers for data products grew by double-digits compared to the prior year period, indicating strong demand for these services[4] Cash and Investments - Cash and cash equivalents and short-term investments totaled RMB22.71 billion (US$3.31 billion) as of March 31, 2023[15] - The company repurchased 3,939,934 American depositary shares for approximately US$118.8 million as of May 5, 2023[2] Balance Sheet - Total assets increased from RMB 29,715,819 as of December 31, 2022, to RMB 30,324,054 as of March 31, 2023, representing a growth of 2.04%[30] - Total current assets rose from RMB 24,424,931 to RMB 25,005,022, an increase of 2.37%[30] - Total current liabilities increased from RMB 4,058,676 to RMB 4,770,435, reflecting a rise of 17.5%[30] - Deferred revenue surged from RMB 1,147,131 to RMB 2,085,066, marking an increase of 81.9%[30] - Total equity decreased from RMB 23,482,987 to RMB 23,298,076, a decline of 0.78%[30] - Cash and cash equivalents decreased from RMB 2,801,299 to RMB 1,877,864, a drop of 32.8%[30] - Short-term investments increased from RMB 19,279,592 to RMB 20,831,760, a growth of 8.06%[30] - Total non-current assets slightly increased from RMB 5,290,888 to RMB 5,319,032, a rise of 0.54%[30] - Accrued expenses and other payables decreased from RMB 2,537,281 to RMB 2,236,441, a reduction of 11.8%[30] - Total liabilities increased from RMB 4,627,193 to RMB 5,383,840, an increase of 16.3%[30] Future Outlook - The company plans to continue focusing on enhancing its media services and leads generation services to drive future revenue growth[25]

Share Capital and Structure - Autohome Inc. reported a total of 492,742,468 ordinary shares outstanding as of December 31, 2022[5]. - The company has a share capital of $0.0025 per ordinary share[5]. - Autohome Inc. is classified as a large accelerated filer under the Securities Exchange Act[6]. Financial Performance - The company reported a revenue of $1.2 billion for the last quarter, representing a year-over-year increase of 15%[12]. - User data showed an increase in active users to 25 million, up from 20 million in the previous quarter, marking a 25% growth[12]. - The company reported a net profit margin of 20%, consistent with the previous quarter[12]. - Net revenue for 2022 was RMB 6,940,828 thousand, a decrease of 9.1% compared to RMB 7,237,004 thousand in 2021[33]. - Gross profit for 2022 was RMB 5,705,655 thousand, reflecting a gross margin of approximately 82.2%[33]. - Operating profit for 2022 was RMB 1,247,522 thousand, down 30% from RMB 1,781,612 thousand in 2021[33]. - Net profit attributable to Autohome Inc. for 2022 was RMB 1,855,174 thousand, a decrease of 17.4% from RMB 2,248,785 thousand in 2021[33]. - Basic earnings per share for 2022 was RMB 3.62, compared to RMB 4.30 in 2021, representing a decline of 15.8%[33]. Future Guidance and Growth Initiatives - The company provided guidance for the next quarter, expecting revenue to be between $1.3 billion and $1.4 billion, indicating a potential growth of 8% to 17%[12]. - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[12]. - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[12]. - Market expansion plans include entering three new countries by the end of the year, targeting a 10% increase in market share[12]. - A new strategic partnership was announced, projected to generate an additional $100 million in revenue over the next two years[12]. Assets and Liabilities - Total assets increased to $5 billion, reflecting a 12% growth compared to the previous year[12]. - The total assets of Autohome Inc. reached RMB 29,715,819 thousand as of December 31, 2022, up from RMB 28,399,435 thousand in 2021[36]. - The company reported a total liability of RMB 4,627,193 thousand as of December 31, 2022, a slight increase from RMB 4,591,636 thousand in 2021[36]. - The company's cash and cash equivalents, including restricted cash, increased to RMB 22,090,066 thousand in 2022, compared to RMB 20,822,623 thousand in 2021[36]. Regulatory and Compliance Risks - The company operates through variable interest entities due to restrictions on foreign investment in internet content services in mainland China[18]. - The company faces significant risks and uncertainties related to its operations in mainland China, including complex and rapidly evolving laws and regulations[22]. - The company is subject to potential severe penalties if its contractual arrangements with variable interest entities are deemed non-compliant with Chinese regulations[21]. - The company must comply with the Cybersecurity Law of the People's Republic of China, which requires network operators to protect networks from unauthorized access and data breaches[72]. - The company is subject to significant regulatory uncertainty regarding compliance with the E-commerce Law, which mandates the protection of consumer data and prohibits misleading advertising practices[168]. Market and Competitive Landscape - The company acknowledges the competitive landscape in mainland China as a risk factor impacting its operations[15]. - The company faces intense competition in the automotive media and lead generation business from various Chinese automotive vertical websites and mobile applications, as well as large internet portals[60]. - The company faces risks related to reliance on the Chinese automotive industry, which is influenced by various uncertainties including government regulations and policies[51]. - The automotive industry in mainland China, which is critical for the company's revenue and future growth, has faced significant challenges, including a 28-year low in growth in July 2018 and a decline in new passenger car purchases in 2018, 2019, and 2020[58]. Dividends and Cash Flow - Autohome Inc. paid total cash dividends of USD 99.8 million, USD 105.7 million, and USD 61.1 million in fiscal years 2020, 2021, and 2022 respectively[29]. - The company has established a regular dividend policy, which is contingent on the financial performance of its subsidiaries[29]. - The company relies heavily on dividends from its domestic subsidiaries to meet cash and financing needs, which poses a risk if such payments are restricted[28]. Research and Development - Research and development expenses for 2022 totaled RMB 1,417,094 thousand, an increase of 1.4% from RMB 1,398,037 thousand in 2021[33]. - Autohome Inc. aims to enhance its technological capabilities and product offerings to drive future growth, with ongoing investments in research and development[38]. Risks Related to Shareholder Interests - The company faces significant risks related to the collection of accounts receivable from automotive manufacturers, particularly in a declining domestic automotive market, which could adversely affect business performance and financial condition[84]. - The company cannot guarantee that VIE shareholders will act in its best interests during conflicts of interest, which could impact financial benefits[144]. - The interests of individual shareholders in VIEs may conflict with the company's interests, potentially leading to adverse effects on business operations[143]. Economic and Political Factors - Economic uncertainties, including consumer confidence drops, could significantly impact the company's business and financial performance[107]. - International trade policies and escalating political tensions, particularly between the US and China, may negatively affect the company's business performance[200]. - The company is currently reducing its European business scale amid increasing trade and political tensions[200]. Cybersecurity and Data Protection - The company has implemented technical measures to ensure the security of personal data collected from users, but still faces inherent risks related to data protection and compliance with evolving regulations[70]. - The company faces significant risks related to data breaches and unauthorized access, which could lead to costly litigation and damage to its reputation[74]. - The evolving regulatory landscape in China may require the company to adjust its business practices to comply with new data protection laws and regulations[78]. Human Resources and Labor Costs - The average wage level of employees has increased in recent years, and labor costs are expected to continue rising[196]. - The company anticipates that labor costs, including wages and employee benefits, will continue to increase, potentially impacting profitability[197]. - Stricter regulations regarding employee benefits and labor contracts may adversely affect the company's operations and financial performance[198].

Financial Performance - Net revenues for 2022 were RMB 6,940,828, a decrease of 4.1% compared to RMB 7,237,004 in 2021[37]. - Gross profit for 2022 was RMB 5,705,655, down 7.8% from RMB 6,189,112 in 2021[37]. - Operating profit decreased to RMB 1,247,522 in 2022, a decline of 30% from RMB 1,781,612 in 2021[37]. - Net income attributable to Autohome Inc. for 2022 was RMB 1,855,174, a decrease of 17.5% from RMB 2,248,785 in 2021[37]. - Basic earnings per share for ordinary shares in 2022 was RMB 3.62, down from RMB 4.30 in 2021, representing a decline of 15.8%[37]. - Total operating expenses for 2022 were RMB 4,785,640, an increase of 1.8% from RMB 4,701,741 in 2021[37]. - Interest and investment income, net for 2022 increased to RMB 565,090, up 42.9% from RMB 395,245 in 2021[37]. - The share of income from subsidiaries for Autohome Inc. was RMB 1,854,834 in 2022, compared to RMB 2,326,018 in 2021, a decrease of 20.2%[45]. - Total cost and expenses for the year ended December 31, 2022, were RMB 6,020,813, compared to RMB 5,749,633 in 2021, an increase of 4.7%[44]. Dividends and Cash Flow - In the years ended December 31, 2020, 2021, and 2022, total dividends paid by mainland China subsidiaries to Autohome Inc. were RMB 649.6 million, RMB 681.4 million, and RMB 1,430.0 million (US$ 207.3 million), respectively[27]. - The company’s ability to pay dividends depends on retained earnings of its mainland China subsidiaries, which are subject to PRC regulations[27]. - The company declared a cash dividend of US$0.145 per share in February 2023, reflecting a continued commitment to returning value to shareholders[40]. - Cash and cash equivalents increased from RMB 20,822,623 in 2020 to RMB 22,090,066 in 2022, representing a growth of 6.1%[41]. - Net cash provided by operating activities for the year ended December 31, 2022, was RMB 2,565,075 thousand, compared to RMB 3,523,934 thousand in 2021[52][54]. Assets and Liabilities - Total current assets rose from RMB 23,325,718 in 2020 to RMB 24,424,931 in 2022, an increase of 4.7%[41]. - Total liabilities slightly increased from RMB 4,591,636 in 2020 to RMB 4,627,193 in 2022, reflecting a growth of 0.8%[41]. - Total assets for Autohome Inc. stood at RMB 29,715,819 thousand, showcasing a solid balance sheet[49]. - The total shareholders' equity for Autohome Inc. was RMB 23,482,987 thousand, indicating a strong equity position[49]. Market and Competition - The company is heavily reliant on mainland China's automotive industry for revenue, which is subject to uncertainties including government regulations[57]. - The company faces significant competition in the market, which could adversely affect its market share and operational results[57]. - The company faces significant competition from various automotive vertical websites, mobile applications, and online transaction platforms, which may affect user engagement and market share[72]. - The company has seen a revenue contribution of 26.4% from its top five automaker customers in 2022, indicating a significant reliance on a limited number of clients[109]. - The used automobile market in China is growing, but the company faces uncertainty in effectively monetizing user traffic and establishing a successful business model[114]. Regulatory and Compliance Risks - The PCAOB was unable to inspect or investigate registered public accounting firms in mainland China and Hong Kong, which could affect trading of shares under the HFCAA[21]. - Autohome Inc. may be required to obtain additional licenses or permits for its operations in mainland China, which could materially affect its business[24]. - The company is subject to potential sanctions if it fails to comply with cybersecurity and data privacy regulations in mainland China[24]. - The PRC Data Security Law and Cybersecurity Review Measures impose additional obligations that could affect the company's operations if deemed a "critical information infrastructure operator"[97][106]. - The company faces risks of penalties or loss of operational control if the PRC government deems the contractual arrangements non-compliant[187]. VIE Structure and Control - Revenues contributed by the VIEs accounted for 8.1%, 13.1%, and 12.7% of total net revenues for the fiscal years 2020, 2021, and 2022, respectively[17]. - The company relies on contractual arrangements with Variable Interest Entities (VIEs) in mainland China to conduct internet content services due to restrictions on foreign ownership[184]. - The corporate structure of the VIEs is compliant with existing PRC laws, but there are uncertainties regarding future regulatory interpretations[185]. - The individual shareholders of the VIEs may have interests that conflict with those of the company, potentially affecting control and economic benefits[200]. - The company does not hold equity interests in the VIEs but maintains substantial control through these contractual arrangements[185]. Strategic Initiatives and Future Outlook - The company is actively exploring new business initiatives related to new energy vehicles, including launching an offline experience store in Shanghai in September 2022[85]. - The company has expanded its business to the European market with subsidiaries in the UK and Germany, but these have not generated significant revenues and are scaling back operations[75]. - The company may need to increase research and development expenses to enhance technology capabilities, including artificial intelligence and big data technologies[81]. - The company’s historical growth rates may not be indicative of future performance, with potential slowdowns due to increased competition and changing market conditions[78]. Operational Challenges - The COVID-19 pandemic has negatively impacted the company's operations, with a decline in automobile production and purchases during peak restrictions[180]. - The company faces intense competition for skilled personnel in the automotive and internet advertising industries, which could hinder growth[164]. - Problems with network infrastructure or IT systems could impair the company's ability to provide services, affecting user experience[159]. - The company has experienced hacking attacks in the past, which have not materially affected operations, but future attacks could damage reputation and service usage[161].

Financial Data and Key Metrics Changes - In Q4 2022, Autohome's total revenues increased by 12% year-over-year, reaching RMB 1.89 billion [5][18] - Adjusted net income for Q4 2022 was RMB 669 million, a 42.6% increase from RMB 469 million in Q4 2021 [20] - The adjusted net margin for Q4 2022 was 35.3% [5] - For the full year 2022, total revenues were RMB 6.94 billion, with adjusted net income of RMB 2.17 billion [21] Business Line Data and Key Metrics Changes - Media services revenue surged by 64% year-over-year to RMB 610 million in Q4 2022 [5][18] - Leads generation services revenue increased by 1.1% year-over-year to RMB 787 million [18] - Revenue from online marketplaces and others was RMB 496 million [18] - Revenue from the New Energy Vehicle (NEV) business grew by 153% year-over-year [14] Market Data and Key Metrics Changes - Autohome's mobile daily active users (DAU) reached a record high of 54.39 million in December 2022, up 16.1% year-over-year [11] - The used car market is expected to grow by 8% in 2023, driven by new policies and market transformations [30] Company Strategy and Development Direction - Autohome aims to strengthen its content ecosystem and explore new initiatives, focusing on digital transformation and enhancing user engagement [6][7] - The company is committed to building a one-stop full-chain auto ecosystem platform to provide comprehensive services throughout the automobile ownership lifecycle [17] - Autohome plans to continue expanding its presence in the NEV market and enhance its used car business through strategic partnerships and innovative service offerings [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2023, citing government support for the auto industry and expected recovery in consumption [27][29] - The company anticipates a steady upward trend in the auto industry, supported by local government initiatives and the easing of COVID-19 restrictions [7][29] - Management highlighted the importance of adapting to market changes and leveraging digital capabilities to enhance operational efficiency [33] Other Important Information - Autohome's cash reserves and healthy cash flow position the company well for future investments and shareholder returns, including a fixed annual cash dividend of at least RMB 500 million from 2022 to 2026 [22][23] - The company has repurchased approximately 3.69 million ADS for a total cost of approximately $111 million as part of its share repurchase program [22] Q&A Session Summary Question: What is the outlook for the auto industry in 2023? - Management noted a significant drop in production and sales data in January due to the Spring Festival and fading subsidies but remains optimistic about the overall growth of around 40% for NEVs in the long run [26][29] Question: How is the company planning to allocate cash and manage capital? - Management emphasized the importance of shareholder interests, with plans to extend the share buyback initiative and increase the dividend payout ratio [32] Question: What are the KPIs for data products and the used car business in 2023? - Management indicated a focus on enhancing efficiency and lowering costs for clients in the data products segment, while the used car business aims to establish a comprehensive transaction platform [36][38]

Financial Performance - Net revenues for Q4 2022 were RMB1,893.3 million (US$274.5 million), an increase of 11.8% year-over-year from RMB1,693.6 million in Q4 2021[2] - Net income attributable to Autohome in Q4 2022 was RMB594.1 million (US$86.1 million), compared to RMB267.8 million in Q4 2021, representing a growth of 121.5%[13] - For the full year 2022, net revenues were RMB6,940.8 million (US$1,006.3 million), a decrease from RMB7,237.0 million in 2021[3] - Full-year net income attributable to Autohome was RMB1,855.2 million (US$269.0 million), down from RMB2,248.8 million in 2021, reflecting market challenges[22] - Adjusted net income attributable to Autohome (Non-GAAP) was RMB2,168.3 million (US$314.4 million) in 2022, a decrease of 16.0% from RMB2,582.2 million in 2021[24] - Non-GAAP basic and diluted EPS were RMB4.34 (US$0.63) in 2022, down from RMB5.17 and RMB5.16 in 2021, representing a decline of approximately 16.1%[24] Operational Efficiency - Adjusted net income for Q4 2022 was RMB668.5 million (US$96.9 million), up from RMB468.5 million in Q4 2021, marking a 42.7% increase[15] - Operating profit for Q4 2022 was RMB513.3 million (US$74.4 million), compared to RMB176.9 million in Q4 2021, showing strong operational efficiency[11] - Adjusted EBITDA for Q4 2022 was RMB 789,460, up 290.5% from RMB 271,480 in Q4 2021[41] - The net margin for Q4 2022 improved to 31.4%, compared to 15.8% in Q4 2021[41] - Basic earnings per share for Q4 2022 were RMB 1.18, an increase from RMB 0.51 in Q4 2021[39] User Engagement - Daily active users reached 54.39 million in December 2022, a 16.1% year-over-year increase, solidifying the company's leadership in the industry[4] - The number of dealer customers for data products increased by 26% year-over-year in Q4 2022, indicating strong demand for new business initiatives[5] Shareholder Returns - The company plans to pay a minimum of RMB500 million in cash dividends starting from 2022, enhancing shareholder returns[5] - A dividend of US$0.58 per ADS (or US$0.145 per ordinary share) for fiscal year 2022 was approved, payable to shareholders of record as of March 21, 2023[28] - The Board approved a fixed annual cash dividend of at least RMB500.0 million between 2022 and 2026, subject to adjustment based on financial performance[26] - The share repurchase program authorized up to US$200 million, with approximately US$111.3 million spent to repurchase 3,686,327 ADSs as of February 10, 2023[29] Financial Position - As of December 31, 2022, the company had cash and cash equivalents and short-term investments totaling RMB22.08 billion (US$3.20 billion)[25] - Net cash provided by operating activities in 2022 was RMB2,565.1 million (US$371.9 million)[25] - Total assets increased from RMB 28,399,435 in 2021 to RMB 29,715,819 in 2022, representing a growth of 4.6%[44] - Cash and cash equivalents decreased from RMB 4,236,501 in 2021 to RMB 2,801,299 in 2022, a decline of 33.9%[44] - Total current assets rose from RMB 23,325,718 in 2021 to RMB 24,424,931 in 2022, an increase of 4.7%[44] - Total liabilities increased slightly from RMB 4,591,636 in 2021 to RMB 4,627,193 in 2022, a growth of 0.8%[44] - Total equity grew from RMB 22,339,770 in 2021 to RMB 23,482,987 in 2022, reflecting an increase of 5.1%[44] Employee Information - The company had 5,355 employees as of December 31, 2022, including 2,128 from TTP Car, Inc.[30] Business Operations - Autohome operates a comprehensive online platform for automobile consumers, providing various services including auto financing and insurance[32] - The company emphasizes the importance of non-GAAP financial measures to evaluate operating performance, with Adjusted Net Income and Adjusted EBITDA being key metrics[34]

Financial Data and Key Metrics Changes - Total revenue for Q3 2022 was RMB 1.84 billion, up 4.5% year-over-year, with media service revenue increasing by 28% year-over-year [7][24] - Adjusted net income attributable to Autohome was RMB 590 million, reflecting a year-over-year increase of 1%, with an adjusted net margin of 32% [7][26] - Gross margin decreased to 82.1% from 84.1% in Q3 2021 [25] - Operating profit was RMB 192 million, down from RMB 365 million in the corresponding period of 2021 [26] Business Line Data and Key Metrics Changes - Media service revenue reached RMB 566 million, returning to positive year-over-year growth for the first time [10][24] - Revenue from generation services increased by 5.3% year-over-year to RMB 809 million, while online marketplace and others revenue was RMB 478 million [24] - NEV (New Energy Vehicle) revenue grew by 140.7% year-over-year, outperforming industry sales growth [19] Market Data and Key Metrics Changes - China passenger vehicle sales in Q3 2022 totaled 5.69 million units, representing a 23% year-over-year growth [8] - The NEV domestic retail penetration rate reached 31.8%, up from 21.1% year-over-year [36] - Autohome's platform accounted for around 21% of all used car transactions in China, with a 3 percentage point year-over-year growth [21] Company Strategy and Development Direction - Autohome is focusing on an ecosystem approach, consolidating resources with Ping An Group to build a one-stop platform for auto users [23] - The company is committed to leading industry-wide innovation and fostering digital transformation in the auto industry [23] - Autohome is expanding its NEV business and has unveiled its first offline store in Shanghai, with plans to increase presence in both top-tier and lower-tier cities [18] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the auto industry's recovery, citing improved sales and production in Q3 2022 [33] - The company anticipates a positive environment for development in Q4 2022, supported by government policies aimed at boosting auto consumption [34] - Management acknowledged challenges from the COVID-19 pandemic but noted that the auto market is stabilizing and showing signs of recovery [35] Other Important Information - Autohome's balance sheet remains strong with cash, cash equivalents, and short-term investments of RMB 2.34 billion as of September 30, 2022 [26] - The company has repurchased approximately 3.61 million ADS for a total cost of approximately US$106 million as part of its share repurchase program [26] Q&A Session Summary Question: What is the outlook for the auto industry in Q4 2022 and the used car market? - Management noted significant recovery in the auto industry with a 23.7% year-over-year growth in Q3, and expressed cautious optimism for Q4 [32][34] Question: How is the company addressing the used car market and its strategies for next year? - Management highlighted the establishment of a one-stop used car transaction platform and collaboration with various brands to enhance competitiveness [20][40] Question: Can management elaborate on collaborations with NetEase Music and Huawei? - Management explained that collaborations aim to enhance user experience and integrate content consumption with driving scenarios [45] Question: What are the plans for cost efficiency initiatives? - Management discussed internal and external measures to boost cost efficiency, including performance evaluations and technological enhancements in content generation [47] Question: How will the company utilize its cash reserves? - Management confirmed the continuation of the buyback plan and stable dividend payments, ensuring returns to shareholders [51]

Financial Performance - For Q3 2022, Autohome Inc. reported total net revenue of RMB 1,843.3 million (USD 259.1 million), a year-over-year increase of 4.5% from RMB 1,763.8 million[3]. - The net profit attributable to Autohome for Q3 2022 was RMB 507.8 million (USD 71.4 million), compared to RMB 521.7 million in the same period last year[3]. - Adjusted net profit for Q3 2022 was RMB 590.0 million (USD 82.9 million), slightly up from RMB 583.3 million year-over-year[3]. - The company's operating profit decreased to RMB 191,746 thousand in Q3 2022, down 47.5% from RMB 365,084 thousand in Q3 2021[18]. - Net profit attributable to Autohome was RMB 507,844 thousand in Q3 2022, a slight decrease of 2.5% compared to RMB 521,720 thousand in Q3 2021[18]. - Adjusted EBITDA for Q3 2022 was RMB 441,208 thousand, down 33.4% from RMB 661,998 thousand in Q3 2021[20]. - The net profit margin for Q3 2022 was 27.6%, compared to 29.6% in Q3 2021[20]. - Basic earnings per share for ordinary shares in Q3 2022 was RMB 0.99, a decrease from RMB 1.01 in Q3 2021[18]. Revenue Breakdown - Media services revenue for Q3 2022 reached RMB 555.7 million (USD 78.1 million), a significant increase of 28% compared to RMB 434.1 million in the previous year[5]. - Lead generation service revenue was RMB 809.1 million (USD 113.7 million), up from RMB 768.4 million year-over-year, driven by increased average revenue per dealer[5]. - Media services revenue in Q3 2022 was RMB 555.7 million (USD 78.1 million), up 28% year-on-year from RMB 434.1 million, driven by increased advertising spending from automakers[27]. - Lead generation service revenue for Q3 2022 was RMB 809.1 million (USD 113.7 million), a year-on-year increase from RMB 768.4 million, attributed to higher average revenue per dealer[27]. Operating Costs and Expenses - Operating costs for Q3 2022 were RMB 330.7 million (USD 46.5 million), an increase from RMB 281.2 million in the same quarter last year, primarily due to ongoing content investments[6]. - Total operating expenses for Q3 2022 amounted to RMB 1,385.8 million (USD 194.8 million), up from RMB 1,187.0 million year-over-year[7]. - Operating expenses increased to RMB 1,385,759 thousand in Q3 2022, up 16.7% from RMB 1,186,973 thousand in Q3 2021[18]. Cash Flow and Assets - As of September 30, 2022, the total cash and cash equivalents, along with short-term investments, amounted to RMB 21.34 billion (USD 2,999.4 million)[11]. - The net cash flow from operating activities in Q3 2022 was RMB 540.7 million (USD 76.0 million)[11]. - As of September 30, 2022, total assets amounted to RMB 28,775.9 million (USD 4,045.3 million), compared to RMB 28,529.0 million at the end of 2021[22]. - Total liabilities decreased to RMB 3,966.4 million (USD 557.6 million) as of September 30, 2022, from RMB 4,591.6 million at the end of 2021[22]. - The total equity attributable to Autohome shareholders increased to RMB 23,623.7 million (USD 3,320.9 million) as of September 30, 2022, from RMB 22,754.4 million at the end of 2021[22]. - Autohome's cash and cash equivalents stood at RMB 4,900.3 million (USD 688.9 million) as of September 30, 2022, compared to RMB 4,236.5 million at the end of 2021[21]. User Engagement - Daily active users in September 2022 grew by 13.4% year-over-year to 49.56 million, marking the fifth consecutive month of accelerated growth[4]. - The company plans to continue enhancing user experience through technological innovations and expanding its new retail offline experience stores[26]. Employee and Corporate Information - The total number of employees as of September 30, 2022, was 5,518, including 2,086 employees from Tian Tian Pai Che[12]. - Autohome Inc. is a leading online service platform for automotive consumers in China, providing a wide range of services including original content, data analysis, and marketing services[13]. - The company plans to hold an earnings conference call on November 3, 2022, at 8:00 AM ET[12]. Stock Repurchase Plan - The company has extended its stock repurchase plan for an additional 12 months, allowing for the repurchase of up to USD 200 million of American Depositary Shares[4]. - The company announced an extension of its stock repurchase plan for an additional 12 months until November 17, 2023[23]. Non-GAAP Financial Measures - The company highlighted the importance of non-GAAP financial measures for assessing operational performance, despite their limitations[18]. - Adjusted net profit and adjusted EBITDA are key non-GAAP financial indicators used by the management to evaluate the company's performance[38]. - Autohome Inc. believes that these non-GAAP financial metrics are crucial for helping investors understand the company's operational and financial performance[38].

Financial Performance - Net revenues for Q3 2022 were RMB1,843.3 million (US$259.1 million), a 4.5% increase from RMB1,763.8 million in Q3 2021[1] - Net income attributable to Autohome was RMB507.8 million (US$71.4 million) in Q3 2022, down from RMB521.7 million in Q3 2021[10] - Adjusted net income (Non-GAAP) was RMB590.0 million (US$82.9 million) in Q3 2022, compared to RMB583.3 million in Q3 2021[2] - Total net revenues for the three months ended September 2022 were RMB 1,843,287, representing a year-over-year increase of 4.5% from RMB 1,763,763 in the same period of 2021[22] - Adjusted net income attributable to Autohome for the three months ended September 2022 was RMB 589,979, compared to RMB 583,267 for the same period in 2021, reflecting a slight increase of 1.2%[23] - Net income attributable to Autohome for the three months ended September 2022 was RMB 507,844, compared to RMB 521,720 for the same period in 2021, a decrease of 2.2%[23] - Basic earnings per share for ordinary shares for the three months ended September 2022 were RMB 0.99, unchanged from the same period in 2021[22] - Adjusted net margin for the three months ended September 2022 was 32.0%, slightly down from 33.1% in the same period of 2021[23] User Engagement - Average daily active users grew by 13.4% year-over-year to 49.56 million in September 2022, marking five consecutive months of growth[5] - The number of dealer customers increased by 16% year-over-year in Q3 2022, contributing to the growth of data products[5] Revenue Streams - Media services revenues increased by 28% year-over-year to RMB555.7 million (US$78.1 million) in Q3 2022[6] - Revenues from NEV brands grew significantly, outperforming the overall NEV market growth rate[5] Operating Metrics - Operating profit decreased to RMB191.7 million (US$27.0 million) in Q3 2022 from RMB365.1 million in Q3 2021[8] - Adjusted EBITDA for the three months ended September 2022 was RMB 441,208, down from RMB 661,998 in the same period of 2021, indicating a decrease of 33.3%[23] Cash and Assets - Cash and cash equivalents and short-term investments totaled RMB21.34 billion (US$2,999.4 million) as of September 30, 2022[13] - Cash and cash equivalents as of September 30, 2022, were RMB 4,900,319, an increase from RMB 4,236,501 as of December 31, 2021[24] - Total assets as of September 30, 2022, were RMB 28,775,906, compared to RMB 28,529,006 as of December 31, 2021, reflecting a growth of 0.9%[24] - Total liabilities as of September 30, 2022, were RMB 3,966,413, a decrease from RMB 4,591,636 as of December 31, 2021, indicating a reduction of 13.6%[24] New Initiatives - Autohome launched a new retail model, Autohome Energy Space, with its first offline experience store in Shanghai[4] Investment Losses - The company reported a loss from equity method investments of RMB 15,739 for the three months ended September 2022, compared to a loss of RMB 102 in the same period of 2021[22]

Financial Data and Key Metrics Changes - Total revenues for Q2 2022 were RMB 1.73 billion, with adjusted net income attributable to Autohome at RMB 472 million and an adjusted net margin of 27.2% [8][37] - Gross margin in Q2 2022 was 83.9%, down from 86.5% in Q2 2021 [35] - Operating profit for Q2 2022 was RMB 301 million, compared to RMB 673 million in the same period of 2021 [37] - Non-GAAP diluted earnings per share were RMB 0.94, down from RMB 1.58 in Q2 2021 [38] Business Line Data and Key Metrics Changes - Media services revenue was RMB 531 million, while lead generation services revenue was RMB 753 million, and online marketplace and others revenue was RMB 450 million [34] - Revenue from dealer digital products surged over 40% year-over-year, with more than 18,000 clients [25] - Revenue generated from NEV brands significantly increased year-over-year, outperforming the market sales growth rate [28] Market Data and Key Metrics Changes - Passenger vehicle sales nationwide increased by 22% year-over-year in June, although overall sales volume fell by about 10% in Q2 2022 [9][32] - The used car market is expected to grow by 23% in the second half of the year, supported by new government policies [67] - The total car sales in China for 2022 are forecasted to reach 27 million units, a 3% increase from the previous year [48] Company Strategy and Development Direction - Autohome is focusing on enhancing its digital products and services, expanding its business model, and launching new offerings to meet customer demands [12][17] - The company is leveraging synergies with Ping An Group to improve service offerings and user experiences [18] - Autohome aims to attract younger and female users by signing Eileen Gu as a brand ambassador [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of the automotive market in the second half of 2022, driven by government stimulus policies [47][49] - The company anticipates that the easing of pandemic restrictions and the implementation of favorable policies will positively impact auto sales [32][33] - Management believes that the chip supply situation has improved, reducing concerns about production bottlenecks for OEMs [51][52] Other Important Information - Autohome's balance sheet remains strong, with cash, cash equivalents, and short-term investments totaling RMB 20.94 billion as of June 30, 2022 [39] - The company has repurchased approximately 1.88 million ADS for a total cost of approximately US$54.2 million as part of its share repurchase program [40] Q&A Session Summary Question: Auto market trend in the second half of the year - Management noted that the auto market is expected to recover strongly due to government stimulus policies and improved chip supply [47][49] Question: Data products growth momentum - Management indicated that data product revenue is expected to increase in the second half of the year as new car launches accelerate [56] Question: Competition from non-vertical platforms - Management acknowledged competition from platforms like Weibo and Bilibili but emphasized Autohome's diversified business model and strong position in the vertical auto media industry [60][62] Question: Used car transaction expectations - Management forecasted a 23% growth in the used car business for the second half of the year, supported by new government policies [67] Question: NEV revenue contribution - Management stated that Autohome is well-positioned in the NEV market and expects strong revenue growth from this segment [71]

Financial Performance - For Q2 2022, Autohome Inc. reported total net revenue of RMB 1,733.0 million (USD 258.7 million), a decrease from RMB 1,938.0 million in the same period last year, representing a decline of approximately 10.6%[3] - The net profit attributable to Autohome Inc. for Q2 2022 was RMB 435.0 million (USD 64.9 million), down from RMB 754.9 million year-over-year, indicating a decline of about 42.3%[3] - Adjusted net profit (non-GAAP) for Q2 2022 was RMB 472.2 million (USD 70.5 million), compared to RMB 795.4 million in the prior year, reflecting a decrease of approximately 40.7%[3] - In Q2 2022, the operating profit was RMB 301.3 million (USD 45.0 million), a decrease from RMB 673.0 million in the same period last year[8] - The net profit attributable to ordinary shareholders in Q2 2022 was RMB 423.4 million (USD 63.2 million), compared to RMB 746.7 million in the same quarter last year, with basic and diluted EPS at RMB 0.85 (USD 0.13) and RMB 0.84 (USD 0.13) respectively[10] - The adjusted net profit (non-GAAP) attributable to Autohome in Q2 2022 was RMB 472.2 million (USD 70.5 million), down from RMB 795.4 million year-over-year[10] - The diluted earnings per American Depositary Share (ADS) for 2022 was RMB 5.91, compared to RMB 11.15 in 2021, reflecting a decline of 47.0%[18] - The total revenue for 2022 was RMB 3,204,285 thousand, a decrease of 15.2% from RMB 3,779,624 thousand in 2021[20] - The basic earnings per share for 2022 was RMB 5.92, down from RMB 11.18 in 2021, indicating a decline of 47.0%[18] - The adjusted net profit attributable to Autohome was RMB 1,454,129 thousand for 2022, a decrease of 13.3% compared to RMB 1,676,456 thousand in 2021[20] - The net income for 2022 was RMB 720,158 thousand, compared to RMB 1,371,974 thousand in 2021, a decline of 47.5%[20] - The company reported a net loss of RMB 33,383 thousand in 2022, compared to a net income of RMB 20,984 thousand in 2021[20] User Engagement - Daily active users reached 47.63 million in June 2022, marking an 8.1% year-over-year increase, achieving a historical high[4] Revenue Breakdown - Revenue from media services in Q2 2022 was RMB 530.6 million (USD 79.2 million), down from RMB 599.8 million in the same period last year, a decline of about 11.5%[5] - Revenue from lead services increased to RMB 752.8 million (USD 112.4 million) in Q2 2022, compared to RMB 744.0 million in the previous year, showing a growth of approximately 1.2%[5] - The revenue from the automotive services segment for 2022 was RMB 752,813 thousand, an increase of 41.7% from RMB 530,561 thousand in 2021[20] - Autohome's revenue from online services was RMB 1,732,993 thousand in 2022, a decrease of 10.5% from RMB 1,938,043 thousand in 2021[42] Expenses and Costs - Total operating expenses for Q2 2022 were RMB 1,227.5 million (USD 183.3 million), up from RMB 1,073.8 million year-over-year, representing an increase of about 14.3%[7] - R&D expenses for Q2 2022 were RMB 362.2 million (USD 54.1 million), an increase from RMB 334.7 million in the same period last year, reflecting a growth of approximately 8.2%[7] - Operating costs for Q2 2022 were RMB 278.9 million (USD 41.6 million), an increase from RMB 261.6 million in the same period last year, representing a growth of about 6.5%[28] Cash Flow and Assets - As of June 30, 2022, the total cash and cash equivalents, along with short-term investments, amounted to RMB 20.94 billion (USD 3,125.8 million)[11] - The net cash flow from operating activities in Q2 2022 was RMB 488.3 million (USD 72.9 million)[11] - The total assets of Autohome Inc. as of June 30, 2022, were RMB 28,353,783 thousand, a slight decrease from RMB 28,529,006 thousand as of December 31, 2021[22] - Cash and cash equivalents as of June 30, 2022, totaled RMB 3,851,719 thousand, down from RMB 4,236,501 thousand at the end of 2021[22] - The total liabilities decreased to RMB 4,095,892 thousand as of June 30, 2022, from RMB 4,591,636 thousand at the end of 2021, reflecting a reduction of 10.8%[22] Strategic Plans - Autohome plans to strengthen platform construction and accelerate new business development in the second half of 2022, leveraging government consumption stimulus plans[4] - The company plans to continue focusing on enhancing user engagement and expanding its market presence through new product offerings and technological advancements[38] Shareholder Information - The company repurchased 1,883,906 ADS for approximately USD 54.2 million as of July 31, 2022[3] - The total equity attributable to Autohome shareholders increased from RMB 22,754,419 thousand in 2021 to RMB 23,085,878 thousand in 2022, an increase of 1.5%[44] - The weighted average number of diluted shares for 2022 was 505,183,728, compared to 501,112,704 in 2021, showing an increase of 0.4%[19] Non-GAAP Measures - The company emphasized the importance of non-GAAP financial measures to provide a clearer view of its operational performance, excluding non-cash expenses and non-operating gains and losses[16] - The adjusted net profit margin for 2022 was 27.2%, down from 41.0% in 2021, indicating a significant decline in profitability[21] - The adjusted EBITDA for 2022 was RMB 2,670,404 thousand, down from RMB 3,274,914 thousand in 2021, representing a decrease of 18.5%[20]