Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2018

 

 

Commission File Number: 001-36222

 

 

Autohome Inc.

 

 

10th Floor Tower B, CEC Plaza

3 Dan Ling Street

Haidian District, Beijing 100080

The People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Autohome Inc.
By   :  

/s/ Min Lu

Name   :   Min Lu
Title   :   Chairman of the Board and Chief Executive Officer

Date: November 13, 2018

 

[Signature page to Form 6-K]


Exhibit Index

Exhibit 99.1 – Press Release

EX-99.1

Exhibit 99.1

 

LOGO

 

LOGO

Autohome Inc. Announces Unaudited Third Quarter Ended September 30, 2018 Financial Results

Third Quarter Net Revenues were RMB1.89 Billion Exceeding the High End of the Guidance

Net income attributable to Autohome Inc. increased 59.9% Year-over-Year to RMB681.3 Million

BEIJING, November 12, 2018 – Autohome Inc. (NYSE: ATHM) (“Autohome” or the “Company”), the leading online destination for automobile consumers in China, today announced its unaudited financial results for the third quarter ended September 30, 2018.

Third Quarter 2018 Financial Highlights1

 

   

Net Revenues in the third quarter of 2018 were RMB1,888.4 million ($275.0 million), exceeding the high end of the Company’s original guidance of RMB1,870.0 million ($272.3 million).

 

   

Net Income attributable to Autohome Inc. in the third quarter of 2018 was RMB681.3 million ($99.2 million), compared to RMB426.1 million in the corresponding period of 2017.

 

   

Adjusted net income attributable to Autohome Inc.in the third quarter of 2018 was RMB737.4 million ($107.4 million), compared to RMB475.8 million in the corresponding period of 2017.

Adoption of ASC 606, Revenue from Contracts with Customers

In May 2014, the FASB issued a new standard related to revenue recognition and further issued several amendments and updates to the new revenue guidance. The Company has finalized its analysis and the most significant impact is the change of the presentation of value-added tax from gross basis to net basis. The Company adopted this guidance effective January 1, 2018 using the modified retrospective method. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.

To provide investors with meaningful year-over-year comparison, the Company has provided a reconciliation table for the impact of adopting this new revenue guidance for the third quarter of 2018 and corresponding period in 2017, as adjusted, which was related to the change in presentation of value-added tax from gross basis to net basis.

 

 

1 

The reporting currency of the Company is Renminbi (“RMB”). For the convenience of readers, certain amounts throughout the release are presented in US dollars (“$”). Unless otherwise noted, all conversions from RMB to US$ are translated at the noon buying rate of US$1.00 to RMB 6.8680 on September 28, 2018 in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

 

1


     For the three months ended September 30, 2018  
     Under ASC
605
     Adjustments
related to new
revenue guidance
     Under ASC
606
 

Net revenues

        

Media services

     955,379        (54,078      901,301  

Leads generation services

     842,889        (103,619      739,270  

Online marketplace and others

     266,434        (18,573      247,861  
  

 

 

    

 

 

    

 

 

 

Total net revenues

     2,064,702        (176,270      1,888,432  
  

 

 

    

 

 

    

 

 

 

Cost of revenues

     (317,890      102,533        (215,357
  

 

 

    

 

 

    

 

 

 

Gross profit

     1,746,812        (73,737      1,673,075  
  

 

 

    

 

 

    

 

 

 

Operating profit

     698,201        —          698,201  

Net income attributable to Autohome Inc.

     681,321        —          681,321  
     For the three months ended September 30, 2017  
     Under ASC
605
     Adjustments
related to new
revenue guidance
     Under ASC
606
 

Net revenues

        

Media services

     792,252        (41,998      750,254  

Leads generation services

     700,811        (86,941      613,870  

Online marketplace and others

     55,349        (4,810      50,539  
  

 

 

    

 

 

    

 

 

 

Total net revenues

     1,548,412        (133,749      1,414,663  
  

 

 

    

 

 

    

 

 

 

Cost of revenues

     (304,028      81,682        (222,346
  

 

 

    

 

 

    

 

 

 

Gross profit

     1,244,384        (52,067      1,192,317  
  

 

 

    

 

 

    

 

 

 

Operating profit

     530,012        —          530,012  

Net income attributable to Autohome Inc.

     426,080        —          426,080  

For the ease of readers, the operational results are discussed and analyzed under the new revenue guidance, including those for the comparative period in 2017.

 

2


Third Quarter 2018 Operational Highlights

 

   

Mobile Traffic Leadership Continues: In September 2018, the number of average daily unique visitors who accessed the Company’s mobile websites and primary application combined reached 27.9 million, representing an increase of 48% compared with September 2017, further solidifying the Company’s dominant position in the auto vertical sector in China.

 

   

Data-driven Professionally Generated Content (PGC) Aggregates Audience Focus: The Company’s automobile content platform continued to be the best-in-class with the number of professional content contributors increasing 28% sequentially. In addition, attributable to popular demand, Autohome has further diversified its content production by expanding to 13 columns, now including automobile culture, automobile-in-use, automobile comparative evaluation, in addition to the original 9 columns existing in the previous quarter of 2018.

 

   

Augmented Reality Automobile Show in Chengdu Enhances O2O Convergence: The Company again successfully implemented the use of its Augmented Reality Automobile Show (the “AR Auto Show”), for the recent Chengdu 21st International Automobile Exhibition during the period from August 31, 2018 to September 9, 2018. The AR Auto Show attracted 26 branded automakers with over 130 automobile styles on display. This resulted in close to 46 million unique visitors with approximately 90% originating from tier 2 and lower-tier cities. The AR Auto Show generated further traffic of potential consumers with strong demand in lower tier Chinese cities, by surpassing the limitations set by traditional offline shows in terms of physical location and timing. Leveraging this satisfactory experience, Autohome plans to further expand the AR auto shows in other Chinese cities.

Mr. Min Lu, Chairman of the Board of directors and Chief Executive Officer of Autohome, stated, “We had another great quarter with revenue again exceeding our original guidance. With the successful implementation of our “4+1” strategy driving all of our business pillars, we have initiated strategic upgrade in building next generation auto ecosystem with AI, big data and cloud. We plan to continue to deepen our user engagement across our media platform, offer innovative intelligent marketing solutions driven by data technology, expand auto-financing options and partnerships, and accelerate our transaction platform. Given our consistent and repeated success in the past, as well as our leading position in the automotive industry, we remain committed to further strengthen our leadership, enrich our ecosystem, advance our cutting-edge technology, and enhance our competitiveness.”

Mr. Jun Zou, Chief Financial Officer, added, “We are pleased with our progress so far in 2018 as we delivered resilient revenue growth and an even greater increase in net profit despite the softening macro environment for automobile sales in China. This performance was primarily driven by our core business share gains, continued focus on cost control, while ensuring the success of our new initiatives. We look forward to the opportunities ahead for Autohome as we further solidify our position as the automotive industry’s most trusted marketing and technology partner.”

 

3


Overview of Key Financial Results for Third Quarter 2018

Key Financial Results

 

(In RMB Millions except for per share data)

   3Q2017      3Q2018      % Change  

Net Revenues

     1,414.7        1,888.4        33.5

Net Income attributable to Autohome Inc.

     426.1        681.3        59.9

Adjusted Net Income attributable to Autohome Inc.2

     475.8        737.4        55.0

Diluted Earnings Per Share3

     3.59        5.71        59.1

Unaudited Third Quarter 2018 Financial Results

Net Revenues

Net revenues in the third quarter of 2018 were RMB1,888.4 million ($275.0 million) compared to RMB1,414.7 million in the corresponding period of 2017.

 

   

Media services revenues increased 20.1% to RMB901.3 million ($131.2 million) from RMB750.3 million in the corresponding period of 2017. The increase was mainly attributable to an increase in average revenue per automaker advertiser as automakers continued allocating a greater portion of their advertising budgets to Autohome, which provides an increasingly diversified and optimized portfolio of products.

 

   

Leads generation services revenues increased 20.4% to RMB739.3 million ($107.6 million) from RMB613.9 million in the corresponding period of 2017. The increase was primarily attributable to a 15.9% year-over-year increase in average revenue per paying dealer as dealers continue to allocate a greater portion of their budgets to the Company’s services, as well as an expanded dealer client base.

 

   

Online marketplace and others revenues increased 390.4% to RMB247.9 million ($36.1 million) from RMB50.5 million in the corresponding period of 2017. Excluding direct vehicle sales, it would have increased 620.5% compared to the corresponding period of 2017. This increase was primarily attributable to the increased contribution from auto-financing business and data products. Online marketplace and others revenues in the third quarter of 2018 consisted of revenues related to new car and used car marketplace, auto-financing business, data products and others.

Cost of Revenues

Cost of revenues decreased by 3.1% to RMB215.4 million ($31.4 million) from RMB222.3 million in the corresponding period of 2017. Excluding the cost of direct vehicle sales, cost of revenues would have increased 4.1% compared to the corresponding period of 2017. In addition, cost of revenues included share-based compensation expenses of RMB4.3 million ($0.6 million) during the third quarter of 2018, compared to RMB3.9 million for the corresponding period of 2017.

 

 

2 

Adjusted net income attributable to Autohome Inc. is defined as net income attributable to Autohome Inc. excluding share-based compensation expenses and amortization expenses of intangible assets related to acquisitions. For more information on this and other non-GAAP financial measures, please see the section captioned “Use of Non-GAAP Financial Measures” and the tables captioned “Reconciliations of Non-GAAP and GAAP Results” set forth at the end of this release.

3 

Each ordinary share equals one ADS.

 

4


Operating Expenses

Operating expenses were RMB1, 074.0 million ($156.4 million) in the third quarter of 2018, compared to RMB717.2 million in the corresponding period of 2017. The increase was mainly due to increases in sales and marketing expenses and product development expenses as the Company continues to reinvest in future growth opportunities.

 

   

Sales and marketing expenses were RMB676.5 million ($98.5 million) in the third quarter of 2018, compared to RMB422.3 million in the corresponding period of 2017. The increase was primarily attributable to an increase in offline execution and branding expenses. Sales and marketing expenses for the third quarter of 2018 included share-based compensation expenses of RMB18.0 million ($2.6 million), compared to RMB11.6 million in the corresponding period of 2017.

 

   

General and administrative expenses were RMB100.3 million ($14.6 million) in the third quarter of 2018, compared to RMB87.4 million in the corresponding period of 2017. The increase was primarily attributable to an increase in salaries and benefits. General and administrative expenses for the third quarter of 2018 included share-based compensation expenses of RMB12.8 million ($1.9 million), compared to RMB25.1 million in the corresponding period of 2017.

 

   

Product development expenses were RMB297.3 million ($43.3 million) in the third quarter of 2018, compared to RMB207.5 million in the corresponding period of 2017. The increase was primarily attributable to an increase in salaries and benefits and increased investment in research and development activities. Product development expenses for the third quarter of 2018 included share-based compensation expenses of RMB19.9 million ($2.9 million), compared to RMB8.0 million in the corresponding period of 2017.

Operating Profit

Operating profit increased 31.7% to RMB698.2 million ($101.7 million) from RMB530.0 million in the corresponding period of 2017.

Income tax expense

Income tax expense decreased 9.2% to RMB150.7 million ($21.9 million) in the third quarter of 2018, from RMB166.0 million in the corresponding period of 2017, primarily attributable to withholding tax liability associated with special cash dividend in the corresponding period of 2017, partially offset by an increase in taxable income.

Net Income attributable to Autohome Inc. and EPS

Net income attributable to Autohome Inc. increased 59.9% to RMB681.3 million ($99.2 million) from RMB426.1 million in the corresponding period of 2017. Basic and diluted earnings per share/per ADS (“EPS”) were RMB5.78 ($0.84) and RMB5.71 ($0.83), respectively, compared to basic and diluted EPS of RMB3.65 and RMB3.59, respectively, in the corresponding period of 2017.

Adjusted Net Income attributable to Autohome Inc. and Non-GAAP EPS

Adjusted net income attributable to Autohome Inc. (Non-GAAP), defined as net income attributable to Autohome Inc. excluding share-based compensation expenses and amortization expenses of intangible assets related to acquisitions, increased 55.0% to RMB737.4 million ($107.4 million) from RMB475.8 million in the corresponding period of 2017. Non-GAAP basic and diluted EPS were RMB6.26 ($0.91) and RMB6.18 ($0.90), respectively, compared to non-GAAP basic and diluted EPS of RMB4.07 and RMB4.01, respectively, in the corresponding period of 2017.

 

5


Balance Sheet and Cash Flow

As of September 30, 2018, the Company had cash and cash equivalents and short-term investments of RMB8,345.9 million ($1,215.2 million). Net cash provided by operating activities in the third quarter of 2018 was RMB641.3 million ($93.4 million), compared to RMB548.3 million in the corresponding period of 2017.

Employees

The Company had 4,179 employees as of September 30, 2018.

Business Outlook

Autohome currently expects to generate net revenues in the range of RMB2,110 million ($307.2 million) to RMB2,130 million ($310.1 million) in the fourth quarter of fiscal year 2018, representing a 31.6% to 32.8% year-over-year increase. If excluding direct vehicle sales, this represents a 32.0% to 33.3% year-over-year increase. This forecast reflects the Company’s current and preliminary view on the market and its operating conditions, which are subject to change.

Starting on January 1, 2018, Autohome adopted a new revenue recognition accounting standard ASC 606. Under ASC 606, the most significant impact on Autohome will be the change of presentation of value-added tax from gross basis to net basis. The above guidance reflects revenues net of value-added tax under the new revenue recognition standard. If presented on gross basis including value-added tax, the same basis as that for the year 2017, net revenues are expected to be between RMB2,310 million ($336.3 million) to RMB2,330 million ($339.3 million) in the fourth quarter of fiscal year 2018.

Conference Call Information

The Company will host an earnings conference call at 7:00 AM U.S. Eastern Time on Monday, November 12, 2018 (8:00 PM Beijing Time on the same day).

Dial-in details for the earnings conference call are as follows:

 

United States:

Hong Kong:

China Domestic:

United Kingdom:

International:

Passcode:

 

+1-855-824-5644

+852-3027-6500

8009-880-563

0800-026-1542

+1 646-722-4977

18906071#

Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call.

A replay of the conference call may be accessed by phone at the following numbers until November 18, 2018:

 

United States:

International:

Passcode:

 

+1-646-982-0473

+61-2-8325-2405

319303147#

 

6


Additionally, a live and archived webcast of the conference call will be available at http://ir.autohome.com.cn.

About Autohome Inc.

Autohome Inc. (NYSE: ATHM) is the leading online destination for automobile consumers in China. Its mission is to enhance the car-buying and ownership experience for auto consumers in China. Autohome provides professionally produced and user-generated content, a comprehensive automobile library, and extensive automobile listing information to automobile consumers, covering the entire car purchase and ownership cycle. The ability to reach a large and engaged user base of automobile consumers has made Autohome a preferred platform for automakers and dealers to conduct their advertising campaigns. Further, the Company’s dealer subscription and advertising services allow dealers to market their inventory and services through Autohome’s platform, extending the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them. The Company offers sales leads, data analysis, and marketing services to assist automakers and dealers with improving their efficiency and facilitating transactions. As a transaction-centric company, Autohome operates its “Autohome Mall,” a full-service online transaction platform, to facilitate transactions for automakers and dealers. Further, through its websites and mobile applications, it also provides other value-added services, including auto financing, auto insurance, used car transactions, and aftermarket services. For further information, please visit www.autohome.com.cn.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Among other things, Autohome’s business outlook, Autohome’s strategic and operational plans and quotations from management in this announcement contain forward-looking statements. Autohome may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Autohome’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Autohome’s goals and strategies; Autohome’s future business development, results of operations and financial condition; the expected growth of the online automobile advertising market in China; Autohome’s ability to attract and retain users and advertisers and further enhance its brand recognition; Autohome’s expectations regarding demand for and market acceptance of its products and services; competition in the online automobile advertising industry; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Autohome’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Autohome does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

7


Use of Non-GAAP Financial Measures

To supplement net income presented in accordance with U.S. GAAP, we use Adjusted Net Income attributable to Autohome Inc., Non-GAAP basic and diluted EPS and Adjusted EBITDA as non-GAAP financial measures. We define Adjusted Net Income attributable to Autohome Inc. as net income attributable to Autohome Inc. excluding share-based compensation expenses and amortization expenses of intangible assets related to acquisitions. We define Non-GAAP basic and diluted EPS as Adjusted Net Income attributable to Autohome Inc. divided by the basic and diluted weighted average number of ordinary shares. We define Adjusted EBITDA as net income attributable to Autohome Inc. before income tax expense/(benefit), depreciation expenses of property and equipment and amortization expenses of intangible assets and share-based compensation expenses. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance, in addition to net income prepared in accordance with U.S. GAAP. We believe these non-GAAP financial measures are important to help investors understand our operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess our core operating results, as they exclude certain expenses that are not expected to result in cash payments. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of our results. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliation of non-GAAP and GAAP Results” set forth at the end of this press release.

For investor and media inquiries, please contact:

In China:

Autohome Inc.

Investor Relations

Joyce Tang

Tel: +86-10-5985-7483

Email: ir@autohome.com.cn

The Piacente Group, Inc.

Xi Zhang

Tel: +86-10-5730-6200

E-mail: autohome@tpg-ir.com

In the United States:

The Piacente Group, Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: autohome@tpg-ir.com

 

8


AUTOHOME INC.

CONSOLIDATED STATEMENTS OF OPERATIONS4

(Amount in thousands, except per share data)

 

     For three months ended September 30,  
     2017     2018  
     RMB     RMB     US$  
     (Unaudited)     (Unaudited)     (Unaudited)  

Net revenues:

      

Media services

     792,252       901,301       131,232  

Leads generation services

     700,811       739,270       107,640  

Online marketplace

     55,349       247,861       36,089  
  

 

 

   

 

 

   

 

 

 

Total net revenues

     1,548,412       1,888,432       274,961  
  

 

 

   

 

 

   

 

 

 

Cost of revenues

     (304,028     (215,357     (31,357
  

 

 

   

 

 

   

 

 

 

Gross profit

     1,244,384       1,673,075       243,604  
  

 

 

   

 

 

   

 

 

 

Operating expenses:

      

Sales and marketing expenses

     (422,334     (676,509     (98,502

General and administrative expenses

     (87,438     (100,269     (14,599

Product development expenses

     (207,450     (297,259     (43,282
  

 

 

   

 

 

   

 

 

 

Total operating expenses

     (717,222     (1,074,037     (156,383
  

 

 

   

 

 

   

 

 

 

Other income, net

     2,850       99,163       14,438  
  

 

 

   

 

 

   

 

 

 

Operating profit

     530,012       698,201       101,659  
  

 

 

   

 

 

   

 

 

 

Interest income

     61,512       102,132       14,871  

Income/(loss) from equity method investments

     (481     30,419       4,429  
  

 

 

   

 

 

   

 

 

 

Income before income taxes

     591,043       830,752       120,959  
  

 

 

   

 

 

   

 

 

 

Income tax expense

     (165,974     (150,702     (21,943
  

 

 

   

 

 

   

 

 

 

Net income

     425,069       680,050       99,016  
  

 

 

   

 

 

   

 

 

 

Net loss attributable to noncontrolling interests

     1,011       1,271       185  

Net income attributable to Autohome Inc.

     426,080       681,321       99,201  

Earnings per share for ordinary shares

      

Basic

     3.65       5.78       0.84  

Diluted

     3.59       5.71       0.83  

Weighted average shares used to compute earnings per share attributable to Class A and Class B common stockholders:

      

Basic

     116,784,140       117,835,866       117,835,866  

Diluted

     118,668,278       119,245,283       119,245,283  

 

4 

The operating results for the three months ended September 30, 2017 have not been restated and were presented on a gross basis with the net revenues and cost of revenues including value-added tax, while those for the three months ended September 30, 2018 were presented on net basis, with the net revenues and cost of revenues excluding value-added tax.

 

9


AUTOHOME INC.

RECONCILIATION OF NON-GAAP AND GAAP RESULTS

(Amount in thousands, except per share data)

 

     For three months ended September 30,  
     2017      2018  
     RMB      RMB      US$  
     (Unaudited)      (Unaudited)      (Unaudited)  

Net income attributable to Autohome Inc.

     426,080        681,321        99,201  

Plus: income tax expense

     165,974        150,702        21,943  

Plus: depreciation of property and equipment

     20,707        22,538        3,282  

Plus: amortization of intangible assets

     1,730        2,904        423  
  

 

 

    

 

 

    

 

 

 

EBITDA

     614,491        857,465        124,849  
  

 

 

    

 

 

    

 

 

 

Plus: share-based compensation expenses

     48,602        54,956        8,002  
  

 

 

    

 

 

    

 

 

 

Adjusted EBITDA

     663,093        912,421        132,851  
  

 

 

    

 

 

    

 

 

 

Net income attributable to Autohome Inc.

     426,080        681,321        99,201  

Plus: amortization of acquired intangible assets of Cheerbright, China Topside and Norstar

     1,139        1,139        166  

Plus: share-based compensation expenses

     48,602        54,956        8,002  
  

 

 

    

 

 

    

 

 

 

Adjusted Net Income attributable to Autohome Inc.

     475,821        737,416        107,369  
  

 

 

    

 

 

    

 

 

 

Non-GAAP Earnings per share for ordinary shares

        

Basic

     4.07        6.26        0.91  

Diluted

     4.01        6.18        0.90  

Weighted average shares used to compute earnings per share attributable to Class A and Class B common stockholders:

        

Basic

     116,784,140        117,835,866        117,835,866  

Diluted

     118,668,278        119,245,283        119,245,283  

 

10


AUTOHOME INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amount in thousands, except as noted)

 

     As of December 31,     As of September 30,  
     2017     2018  
     RMB     RMB     US$  
     (Audited)     (Unaudited)     (Unaudited)  

ASSETS

      

Current assets

      

Cash and cash equivalents

     911,588       483,106       70,342  

Short-term investments

     7,242,636       7,862,744       1,144,838  

Accounts and notes receivable, net

     1,893,737       2,330,751       339,364  

Amounts due from related parties, current

     24,502       16,987       2,473  

Prepaid expenses and other current assets

     186,123       366,408       53,350  
  

 

 

   

 

 

   

 

 

 

Total current assets

     10,258,586       11,059,996       1,610,367  
  

 

 

   

 

 

   

 

 

 

Non-current assets

      

Restricted cash, non-current

     —         5,000       728  

Property and equipment, net

     130,322       156,024       22,718  

Goodwill and intangible assets, net

     1,555,201       1,546,490       225,173  

Long-term investments

     147,929       72,492       10,555  

Deferred tax assets

     174,620       139,562       20,321  

Other non-current assets

     28,317       736,213       107,193  
  

 

 

   

 

 

   

 

 

 

Total non-current assets

     2,036,389       2,655,781       386,688  
  

 

 

   

 

 

   

 

 

 

Total assets

     12,294,975       13,715,777       1,997,055  
  

 

 

   

 

 

   

 

 

 

LIABILITIES AND EQUITY

      

Current liabilities

      

Accrued expenses and other payables

     1,658,934       2,061,263       300,126  

Advance from customers

     70,454       65,146       9,485  

Deferred revenue

     1,409,485       722,413       105,185  

Income tax payable

     144,379       292,179       42,542  

Amounts due to related parties

     10,285       66,073       9,620  

Dividends payable

     595,779       —         —    
  

 

 

   

 

 

   

 

 

 

Total current liabilities

     3,889,316       3,207,074       466,958  
  

 

 

   

 

 

   

 

 

 

Non-current liabilities

      

Other liabilities

     32,122       32,122       4,677  

Deferred tax liabilities

     438,251       450,785       65,636  
  

 

 

   

 

 

   

 

 

 

Total non-current liabilities

     470,373       482,907       70,313  
  

 

 

   

 

 

   

 

 

 

Total liabilities

     4,359,689       3,689,981       537,271  
  

 

 

   

 

 

   

 

 

 

Equity

      

Total Autohome Inc. Shareholders’ equity

     7,951,637       10,047,023       1,462,875  

Noncontrolling interests

     (16,351     (21,227     (3,091
  

 

 

   

 

 

   

 

 

 

Total equity

     7,935,286       10,025,796       1,459,784  
  

 

 

   

 

 

   

 

 

 

Total liabilities and equity

     12,294,975       13,715,777       1,997,055  
  

 

 

   

 

 

   

 

 

 

 

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