2023-05-11 10:06Financial 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]