AUTOHOME(ATHM) - 2024 Q4 - Annual Report

Net Income Comparison - Net income reported under U.S. GAAP for 2023 was RMB 1,925,409 thousand, while under IFRS it was RMB 1,841,311 thousand, showing a difference of RMB 84,098 thousand[1] - For 2024, net income under U.S. GAAP decreased to RMB 1,623,349 thousand, while IFRS reported an increase to RMB 1,909,576 thousand, reflecting a difference of RMB 286,227 thousand[1] Total Equity Comparison - Total equity as reported under U.S. GAAP for 2023 was RMB 23,414,305 thousand, while under IFRS it was RMB 24,586,787 thousand, indicating a difference of RMB 1,172,482 thousand[2] - In 2024, total equity under U.S. GAAP decreased to RMB 23,269,121 thousand, while IFRS reported an increase to RMB 24,954,170 thousand, resulting in a difference of RMB 1,685,049 thousand[2] Adjustments and Differences - Preferred shares adjustments under IFRS showed a fair value profit change of RMB 17.00 million (negative) for 2023 and RMB 301.70 million for 2024[6] - Lease adjustments resulted in an expense difference of RMB 1.57 million (negative) for 2023 and RMB 1.52 million for 2024[8] - Share-based compensation expense differences were RMB 65.52 million (negative) for 2023 and RMB 16.99 million (negative) for 2024 under IFRS[10] - The total equity difference due to lease adjustments was RMB 9.54 million (negative) for 2023 and RMB 8.02 million (negative) for 2024[8] Accounting Treatment Differences - The reconciliation reflects a significant shift in accounting treatment for preferred shares, impacting both net income and total equity under IFRS compared to U.S. GAAP[5] - The adjustments highlight the differences in accounting policies between U.S. GAAP and IFRS, particularly in the treatment of financial liabilities and equity instruments[3]