2022-08-02 16:00Financial Performance - Net revenues for the second quarter of 2022 were RMB1,733.0 million (US$258.7 million), a decrease of 10.6% compared to RMB1,938.0 million in the same period of 2021[2] - Net income attributable to Autohome Inc. was RMB435.0 million (US$64.9 million), down 42.4% from RMB754.9 million in the corresponding period of 2021[11] - Adjusted net income (Non-GAAP) was RMB472.2 million (US$70.5 million), a decline of 40.6% compared to RMB795.4 million in the same period of 2021[13] - Total net revenues for the three months ended June 2022 were RMB 1,732,993, a decrease of 10.6% from RMB 1,938,043 in the same period of 2021[23] - Net income attributable to Autohome Inc. for the three months ended June 2022 was RMB 435,016, down 42.4% from RMB 754,940 in the same period of 2021[23] - Adjusted net income attributable to Autohome Inc. for Q2 2022 was RMB 472,223 thousand, down 40.6% from RMB 795,356 thousand in Q2 2021[24] - Basic earnings per share for the three months ended June 2022 were RMB 0.85, down from RMB 1.48 in the same period of 2021, representing a decline of 42.3%[23] - Non-GAAP diluted earnings per ADS for Q2 2022 was $0.94, compared to $1.57 in Q2 2021, a decrease of 40.1%[24] - Net margin for Q2 2022 was 25.1%, a decrease from 39.0% in Q2 2021[24] Revenue Breakdown - Revenues from leads generation services were RMB752.8 million (US$112.4 million), slightly up from RMB744.0 million in the corresponding period of 2021[5] - Media services revenues decreased to RMB530.6 million (US$79.2 million), down from RMB599.8 million in the same period of 2021[5] Operating Performance - Operating profit was RMB301.3 million (US$45.0 million), a significant decrease from RMB673.0 million in the corresponding period of 2021[9] - Operating profit for the three months ended June 2022 was RMB 301,251, a significant decrease of 55.3% from RMB 672,987 in the same period of 2021[23] - Total operating expenses for the three months ended June 2022 were RMB 1,227,539, an increase of 14.3% from RMB 1,073,806 in the same period of 2021[23] - Sales and marketing expenses increased to RMB 738,729 for the three months ended June 2022, up from RMB 562,362 in the same period of 2021, indicating a rise of 31.3%[23] User Metrics - Average daily users grew by 8.1% year-over-year to 47.63 million in June 2022, setting a new record high[3] - The number of dealer customers for data products increased by 14% year-over-year in the second quarter of 2022[4] - Average revenue per dealer store rose by 20% year-over-year in the first half of 2022[4] Cash and Assets - Cash and cash equivalents and short-term investments totaled RMB20.94 billion (US$3,125.8 million) as of June 30, 2022[15] - Total current assets decreased to RMB 22,866,627 thousand as of June 30, 2022, from RMB 23,325,718 thousand as of December 31, 2021, a decline of 2.0%[25] - Total assets decreased to RMB 28,353,783 thousand as of June 30, 2022, from RMB 28,529,006 thousand as of December 31, 2021, a decline of 0.6%[25] - Total liabilities decreased to RMB 4,095,892 thousand as of June 30, 2022, from RMB 4,591,636 thousand as of December 31, 2021, a decline of 10.8%[25] - Cash and cash equivalents decreased to RMB 3,851,719 thousand as of June 30, 2022, from RMB 4,236,501 thousand as of December 31, 2021, a decline of 9.1%[25] - Total Autohome Inc. shareholders' equity increased to RMB 23,085,878 thousand as of June 30, 2022, from RMB 22,754,419 thousand as of December 31, 2021, an increase of 1.5%[25] Future Outlook - The company plans to continue focusing on enhancing its media services and leads generation services to drive future growth[20]