AUTOHOME(ATHM) - 2024 Q1 - Quarterly Report

Financial Performance - Net revenues for Q1 2024 were RMB1,609.1 million (US$222.9 million), a 4.9$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]