REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of Each Class |
Trading Symbol ( s ) |
Name of Each Exchange on Which Registered | ||
The Stock Exchange of Hong Kong Limited |
☒ |
Accelerated filer |
☐ | ||||
Non-accelerated filer |
☐ |
Emerging growth company |
† |
The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. |
|
International Financial Reporting Standards as issued by the International Accounting Standards Board ☐ |
Other ☐ |
• | “ADSs” are to our American depositary shares, each of which represents one Class A ordinary share, par value US$0.01 per share, before our variation of share capital in 2021, and four ordinary shares, par value US$0.0025 per share, after our variation of share capital in 2021; |
• | “CAGR” refers to compound annual growth rate; |
• | “CCASS” are to the Central Clearing and Settlement System established and operated by Hong Kong Securities Clearing Company Limited, a wholly-owned subsidiary of Hong Kong Exchange and Clearing Limited; |
• | “China” or the “PRC” are to the People’s Republic of China, excluding, for the purpose of this annual report only, Hong Kong, Macau and Taiwan; |
• | “CSRC” are to the China Securities Regulatory Commission; |
• | “HK$” or “Hong Kong dollars” or “HK dollars” are to Hong Kong dollars, the lawful currency of Hong Kong; |
• | “Hong Kong” or “HK” or “Hong Kong S.A.R.” are to the Hong Kong Special Administrative Region of the PRC; |
• | “Hong Kong Listing Rules” are to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, as amended or supplemented from time to time; |
• | “Hong Kong Share Registrar” are to Computershare Hong Kong Investor Services Limited; |
• | “Hong Kong Stock Exchange” are to The Stock Exchange of Hong Kong Limited; |
• | “Main Board” are to the stock market (excluding the option market) operated by the Hong Kong Stock Exchange which is independent from and operated in parallel with the Growth Enterprise Market of the Hong Kong Stock Exchange; |
• | “Ping An Group” refers to Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318; SHA: 601318), a company organized under the laws of the PRC whose H shares and A shares are listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, respectively; |
• | “RMB” and “Renminbi” are to the legal currency of China; |
• | “SFC” are to the Securities and Futures Commission of Hong Kong; |
• | “SFO” are to the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as amended or supplemented from time to time; |
• | “shares” or “ordinary shares” are our Class A ordinary shares, par value US$0.01 per share, before our variation of share capital in 2021, and ordinary shares, par value US$0.0025 per share, after our variation of share capital in 2021; |
• | “VIEs” and “VIE Entities” are the variable interest entities; |
• | “we,” “us,” “our,” “our company” or “the Company” are to Autohome Inc., its predecessors, subsidiaries and, in the context of describing our operations and consolidated financial information, the VIEs in China; |
• | “U.S. GAAP” refers to generally accepted accounting principles in the United States; and |
• | “$,” “dollars,” “US$” or “U.S. dollars” refers to the legal currency of the United States. |
• | our ability to attract and retain users and customers; |
• | our business strategies and initiatives as well as our new business plans; |
• | our future business development, financial condition and results of operations; |
• | our ability to further enhance our brand recognition; |
• | our ability to attract, retain and motivate key personnel; |
• | competition in our industry in China; and |
• | relevant government policies and regulations relating to our industry. |
ITEM 1 |
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS |
ITEM 2 |
OFFER STATISTICS AND EXPECTED TIMETABLE |
ITEM 3 |
KEY INFORMATION |
For the Year Ended December 31, |
||||||||||||||||
2019 |
2020 |
2021 |
||||||||||||||
RMB |
RMB |
RMB |
US$ |
|||||||||||||
(in thousands) |
||||||||||||||||
Intercompany due from/(to) amounts |
||||||||||||||||
Amounts from parent to offshore subsidiaries (1) |
55,208 | 101,785 | 3,523,478 | 552,911 | ||||||||||||
Capital contributions from offshore subsidiaries to onshore subsidiaries |
— | — | 163,755 | 25,697 | ||||||||||||
Amounts transferred among onshore subsidiaries (2) |
— | — | 1,060,098 | 166,352 | ||||||||||||
Amounts transferred among VIEs and onshore subsidiaries (3) |
— | — | 538,794 | 84,549 | ||||||||||||
Dividend (paid) by onshore subsidiaries to offshore subsidiaries/parent company |
||||||||||||||||
Dividend paid by onshore subsidiaries to offshore subsidiaries |
— | (649,551 | ) | (681,427 | ) | (106,931 | ) | |||||||||
Dividend paid by offshore subsidiaries to parent company |
— | (634,078 | ) | (682,188 | ) | (107,050 | ) | |||||||||
Amounts paid / (received) by subsidiaries to / (from) VIEs |
||||||||||||||||
Cash paid by onshore subsidiaries to the VIEs (4) |
245,693 | 121,156 | 251,369 | 39,445 | ||||||||||||
Cash paid by VIEs to onshore subsidiaries (5) |
601,458 | 231,420 | 587,771 | 92,234 |
(1) | It represented temporary operating cash support and the proceeds in connection with our Hong Kong Offering in March, 2021, which was transferred from parent company to offshore subsidiaries. |
(2) | It represented temporary operating cash support, which was transferred among onshore subsidiaries. |
(3) | It represented temporary operating cash support, which was transferred among VIEs and onshore subsidiaries. |
(4) | It mainly represented service fees paid by the WFOEs and other subsidiaries to the VIEs for information services. |
(5) | It mainly represented service fees paid by VIEs to the WFOEs and other subsidiaries for technological development and promotion service. |
A. |
Selected Financial Data |
For the Year Ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands, except for number of shares and per share data) |
||||||||||||||||||||||||
Selected Consolidated Statements of Operations Data: |
||||||||||||||||||||||||
Net revenues (1) |
6,210,181 |
7,233,151 |
8,420,751 |
8,658,559 |
7,237,004 |
1,135,644 |
||||||||||||||||||
Cost of revenues (2) |
(1,358,685 | ) | (820,288 | ) | (960,292 | ) | (961,170 | ) | (1,047,892 | ) | (164,437 | ) | ||||||||||||
Gross profit |
4,851,496 |
6,412,863 |
7,460,459 |
7,697,389 |
6,189,112 |
971,207 |
||||||||||||||||||
Operating expenses |
||||||||||||||||||||||||
Sales and marketing expenses (2) |
(1,647,519 | ) | (2,435,236 | ) | (3,093,345 | ) | (3,246,507 | ) | (2,759,905 | ) | (433,089 | ) | ||||||||||||
General and administrative expenses (2) |
(281,951 | ) | (314,846 | ) | (317,967 | ) | (381,843 | ) | (543,799 | ) | (85,334 | ) | ||||||||||||
Product development expenses (2) |
(878,773 | ) | (1,135,247 | ) | (1,291,054 | ) | (1,364,227 | ) | (1,398,037 | ) | (219,383 | ) | ||||||||||||
Total operating expenses |
(2,808,243 |
) |
(3,885,329 |
) |
(4,702,366 |
) |
(4,992,577 |
) |
(4,701,741 |
) |
(737,806 |
) | ||||||||||||
Other operating income, net |
8,577 | 341,391 | 477,699 | 443,215 | 294,241 | 46,173 | ||||||||||||||||||
Operating profit |
2,051,830 |
2,868,925 |
3,235,792 |
3,148,027 |
1,781,612 |
279,574 |
||||||||||||||||||
Interest and investment income, net |
220,282 | 347,794 | 464,529 | 521,731 | 395,245 | 62,022 | ||||||||||||||||||
Earnings/(loss) from equity method investments |
(10,571 | ) | 24,702 | 685 | (1,246 | ) | 301 | 47 | ||||||||||||||||
Income before income taxes |
2,261,541 |
3,241,421 |
3,701,006 |
3,668,512 |
2,177,158 |
341,643 |
||||||||||||||||||
Income tax expense |
(267,082 | ) | (377,890 | ) | (500,361 | ) | (260,945 | ) | (34,006 | ) | (5,336 | ) | ||||||||||||
Net income |
1,994,459 |
2,863,531 |
3,200,645 |
3,407,567 |
2,143,152 |
336,307 |
||||||||||||||||||
Net (income)/loss attributable to noncontrolling interests |
7,160 | 7,484 | (679 | ) | (2,338 | ) | 105,633 | 16,576 | ||||||||||||||||
Net income attributable to Autohome Inc. |
2,001,619 |
2,871,015 |
3,199,966 |
3,405,229 |
2,248,785 |
352,883 |
||||||||||||||||||
Accretion of mezzanine equity. |
— | — | — | — | (411,792 | ) | (64,619 | ) | ||||||||||||||||
Accretion attributable to noncontrolling interests. |
— | — | — | — | 311,573 | 48,893 | ||||||||||||||||||
Net income attributable to ordinary shareholders |
2,001,619 |
2,871,015 |
3,199,966 |
3,405,229 |
2,148,566 |
337,157 |
||||||||||||||||||
Earnings per share for ordinary shares (3) |
||||||||||||||||||||||||
Basic |
4.30 | 6.10 | 6.75 | 7.13 | 4.30 | 0.67 | ||||||||||||||||||
Diluted |
4.24 | 6.02 | 6.69 | 7.10 | 4.29 | 0.67 | ||||||||||||||||||
Earnings per ADS attributable to ordinary shareholders (one ADS equals four ordinary shares) |
||||||||||||||||||||||||
Basic |
17.20 | 24.40 | 26.99 | 28.53 | 17.19 | 2.70 | ||||||||||||||||||
Diluted |
16.95 | 24.08 | 26.77 | 28.40 | 17.17 | 2.69 | ||||||||||||||||||
Weighted average number of shares used to compute earnings per share (4) |
||||||||||||||||||||||||
Ordinary shares: |
||||||||||||||||||||||||
Basic |
465,519,384 | 470,687,884 | 474,328,384 | 477,467,268 | 499,861,764 | 499,861,764 | ||||||||||||||||||
Diluted |
472,235,424 | 476,941,516 | 478,060,988 | 479,686,380 | 500,481,540 | 500,481,540 | ||||||||||||||||||
Dividend per share (5) |
— | — | — | — | — | — |
(1) | In May 2014, the Financial Accounting Standards Board issued ASC 606, Revenue from Contracts with Customers, a new standard related to revenue recognition. The most significant impact on our company is the change of the presentation of value-added tax from gross basis to net basis. We adopted this guidance effective from 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 the relevant periods. As a result, the operating results for the years ended December 31, 2017 have not been restated and are presented on a gross basis with value-added tax being included in the net revenues and cost of revenues in such years, while the operating results for the years ended December 31, 2018, 2019, 2020 and 2021 are presented on net basis, with the value-added tax being excluded from the net revenues and cost of revenues in such year, and value-added tax refunds being presented as a component of other operating income, net. |
(2) | Including share-based compensation expenses as follows: |
For the Year Ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands) |
||||||||||||||||||||||||
Allocation of share-based compensation expenses |
||||||||||||||||||||||||
Cost of revenues |
15,166 | 16,112 | 15,508 | 21,372 | 23,142 | 3,631 | ||||||||||||||||||
Sales and marketing expenses |
53,064 | 61,599 | 46,081 | 40,103 | 46,823 | 7,348 | ||||||||||||||||||
General and administrative expenses |
59,954 | 55,992 | 62,884 | 55,868 | 48,803 | 7,658 | ||||||||||||||||||
Product development expenses |
49,602 | 68,622 | 79,535 | 93,863 | 87,292 | 13,698 | ||||||||||||||||||
Total share-based compensation expenses |
177,786 |
202,325 |
204,008 |
211,206 |
206,060 |
32,335 |
(3) | Par value per share and the number of shares have been retrospectively adjusted for the share split and the ADS ratio change that were effective on February 5, 2021 as detailed in Note 2(a) of “Item 18. Financial Statements.” |
(4) | Earnings per share for ordinary shares (diluted) for each year from 2017 to 2021 were computed after taking into account the dilutive effect of the shares underlying our employees’ share-based awards. |
(5) | The special cash dividends declared in November 2017 to the holders of our ordinary shares of record as of the close of business on January 4, 2018 were paid in the amount of US$0.76 per share (inclusive of applicable fees payable to our depositary bank) on or about January 15, 2018. The cash dividends declared in February 2020 to the holders of our ordinary shares of record as of the close of business on April 15, 2020 were paid in the amount of US$0.77 per share (inclusive of applicable fees payable to our depositary bank) on or about April 22, 2020. The cash dividends declared in February 2021 to the holders of our ordinary shares of record as of the close of business on February 25, 2021 were paid in the amount of US$0.87 per ADS (inclusive of applicable fees payable to our depositary bank) on or about March 5, 2021. The cash dividends declared in February 2022 to holders of our ordinary shares of record as of the close of business on March 21, 2022 were paid in an amount of US$0.1325 per share (or US$0.53 per ADS) on March 31, 2022. See “Item 8. Financial Information—A. Consolidated Statements and Other Financial Information—Dividend Policy.” |
For the Year Ended December 31, |
||||||||||||||||||||||||
2017 |
2018 |
2019 |
2020 |
2021 |
||||||||||||||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
US$ |
|||||||||||||||||||
(in thousands) |
||||||||||||||||||||||||
Selected Consolidated Balance Sheet Data: |
||||||||||||||||||||||||
Cash and cash equivalents, restricted cash, current and short-term investments |
8,154,224 | 10,061,458 | 12,795,110 | 14,629,398 | 20,822,623 | 3,267,523 | ||||||||||||||||||
Accounts receivable, net |
1,893,737 | 2,795,835 | 3,231,486 | 3,124,197 | 2,139,471 | 335,730 | ||||||||||||||||||
Total current assets |
10,258,586 | 13,141,317 | 16,358,382 | 18,364,080 | 23,325,718 | 3,660,314 | ||||||||||||||||||
Total assets (1) |
12,294,975 |
15,756,201 |
19,155,865 |
23,730,845 |
28,529,006 |
4,476,824 |
||||||||||||||||||
Deferred revenue |
1,409,485 | 1,510,726 | 1,370,953 | 1,315,667 | 1,553,013 | 243,702 | ||||||||||||||||||
Total current liabilities |
3,889,316 | 4,164,769 | 3,965,903 | 4,185,683 | 3,986,219 | 625,524 | ||||||||||||||||||
Total non-current liabilities |
470,373 | 479,989 | 584,021 | 736,370 | 605,417 | 95,004 | ||||||||||||||||||
Total liabilities (1) |
4,359,689 |
4,644,758 |
4,549,924 |
4,922,053 |
4,591,636 |
720,528 |
||||||||||||||||||
Mezzanine equity |
— |
— |
— |
1,056,237 |
1,468,029 |
230,366 |
||||||||||||||||||
Total Autohome Inc. shareholders’ equity |
7,951,637 |
11,135,278 |
14,629,097 |
17,625,734 |
22,754,419 |
3,570,665 |
||||||||||||||||||
Total equity |
7,935,286 |
11,111,443 |
14,605,941 |
17,752,555 |
22,469,341 |
3,525,930 |
||||||||||||||||||
Total liabilities, mezzanine equity and equity |
12,294,975 |
15,756,201 |
19,155,865 |
23,730,845 |
28,529,006 |
4,476,824 |
(1) | In February 2016, the Financial Accounting Standards Board issued ASU No. 2016-02, Leases, or ASU 2016-02. Under the new provisions, all lessees will report a right-of-use right-of-use right-of-use non-current assets) of RMB133.4 million (US$20.9 million), operating lease liabilities, current (included in accrued expenses and other payables) of RMB96.2 million (US$15.1 million) and operating lease liabilities, non-current (included in other liabilities) of RMB28.6 million (US$4.5 million) were recognized on our consolidated balance sheet. |
For the Year Ended December 31, 2021 |
||||||||||||||||||||||||
Autohome Inc. |
Other Subsidiaries |
Primary Beneficiary of VIEs |
VIEs and VIEs’ subsidiaries |
Eliminations |
Consolidated Total |
|||||||||||||||||||
(RMB in thousands) |
||||||||||||||||||||||||
Net revenues: |
||||||||||||||||||||||||
-Third-party revenues |
— | 6,081,662 | 206,822 | 948,520 | — | 7,237,004 | ||||||||||||||||||
-Inter-company revenues (1) |
— | 18,446 | 1,085,139 | 131,524 | (1,235,109 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Revenue |
— | 6,100,108 |
1,291,961 |
1,080,044 |
(1,235,109 |
) |
7,237,004 |
|||||||||||||||||
Total Cost and expense |
(36,007 |
) |
(4,671,667 |
) |
(1,100,250 |
) |
(1,176,818 |
) |
1,235,109 |
(5,749,633 |
) | |||||||||||||
Share of income of subsidiaries and VIEs (2) : |
||||||||||||||||||||||||
-Share of income of subsidiaries |
2,326,018 | 130,868 | 26,825 | — | (2,483,711 | ) | — | |||||||||||||||||
-Share of income of VIEs |
— | — | (89,397 | ) | — | 89,397 | — | |||||||||||||||||
Others, Income/(loss) |
(41,226 | ) | 725,283 | 3,869 | 1,861 | — | 689,787 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income before income taxes |
2,248,785 |
2,284,592 |
133,008 |
(94,913 |
) |
(2,394,314 |
) |
2,177,158 |
||||||||||||||||
Income tax expense |
— | (64,207 | ) | 24,685 | 5,516 | — | (34,006 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net income/(loss) |
2,248,785 |
2,220,385 |
157,693 |
(89,397 |
) |
(2,394,314 |
) |
2,143,152 |
||||||||||||||||
Net loss/(income) attributable to noncontrolling interests |
— | 105,633 | — | — | — | 105,633 | ||||||||||||||||||
Net income attributable to Autohome Inc. |
2,248,785 |
2,326,018 |
157,693 |
(89,397 |
) |
(2,394,314 |
) |
2,248,785 |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | It represents the elimination of the intercompany service charge at the consolidation level. |
(2) | It represents the elimination of incurrence of losses by parent company and its subsidiaries for, or the receipt of economic benefits by parent company and its subsidiaries from, their respective subsidiaries and the VIEs. |
For the Year Ended December 31, 2020 |
||||||||||||||||||||||||
Autohome Inc. |
Other Subsidiaries |
Primary Beneficiary of VIEs |
VIEs and VIEs’ subsidiaries |
Eliminations |
Consolidated Total |
|||||||||||||||||||
(RMB in thousands) |
||||||||||||||||||||||||
Net revenues: |
||||||||||||||||||||||||
-Third-party revenues |
— | 7,642,110 | 315,841 | 700,608 | — | 8,658,559 | ||||||||||||||||||
-Inter-company revenues (1) |
— | 10,623 | 900,900 | 173,299 | (1,084,822 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Revenue |
— | 7,652,733 |
1,216,741 |
873,907 |
(1,084,822 |
) |
8,658,559 |
|||||||||||||||||
Total Cost and expense |
(21,109 |
) |
(5,252,144 |
) |
(887,750 |
) |
(877,566 |
) |
1,084,822 |
(5,953,747 |
) | |||||||||||||
Share of income of subsidiaries and VIEs (2) : |
||||||||||||||||||||||||
-Share of income of subsidiaries |
3,361,422 | 482,106 | 9,172 | — | (3,852,700 | ) | — | |||||||||||||||||
-Share of income of VIEs |
— | — | 23,342 | — | (23,342 | ) | — | |||||||||||||||||
Others, Income/(loss) |
64,916 | 752,063 | 131,438 | 15,283 | — | 963,700 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income before income taxes |
3,405,229 |
3,634,758 |
492,943 |
11,624 |
(3,876,042 |
) |
3,668,512 |
|||||||||||||||||
Income tax expense |
— | (270,998 | ) | (1,665 | ) | 11,718 | — | (260,945 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net income/(loss) |
3,405,229 |
3,363,760 |
491,278 |
23,342 |
(3,876,042 |
) |
3,407,567 |
|||||||||||||||||
Net loss/(income) attributable to noncontrolling interests |
— | (2,338 | ) | — | — | — | (2,338 | ) | ||||||||||||||||
Net income attributable to Autohome Inc. |
3,405,229 |
3,361,422 |
491,278 |
23,342 |
(3,876,042 |
) |
3,405,229 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | It represents the elimination of the intercompany service charge at the consolidation level. |
(2) | It represents the elimination of incurrence of losses by parent company and its subsidiaries for, or the receipt of economic benefits by parent company and its subsidiaries from, their respective subsidiaries and the VIEs. |
For the Year Ended December 31, 2019 |
||||||||||||||||||||||||
Autohome Inc. |
Other Subsidiaries |
Primary Beneficiary of VIEs |
VIEs and VIEs’ subsidiaries |
Eliminations |
Consolidated Total |
|||||||||||||||||||
(RMB in thousands) |
||||||||||||||||||||||||
Net revenues: |
||||||||||||||||||||||||
-Third-party revenues |
— | 7,385,579 | 333,132 | 702,040 | — | 8,420,751 | ||||||||||||||||||
-Inter-company revenues (1) |
— | 22,113 | 1,055,078 | 113,430 | (1,190,621 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Revenue |
— | 7,407,692 |
1,388,210 |
815,470 |
(1,190,621 |
) |
8,420,751 |
|||||||||||||||||
Total Cost and expense |
(14,757 |
) |
(4,996,916 |
) |
(1,016,710 |
) |
(824,896 |
) |
1,190,621 |
(5,662,658 |
) | |||||||||||||
Share of income of subsidiaries and VIEs (2) : |
||||||||||||||||||||||||
-Share of income of subsidiaries |
3,140,537 | 462,075 | 15,057 | — | (3,617,669 | ) | — | |||||||||||||||||
-Share of income of VIEs |
— | — | (848 | ) | — | 848 | — | |||||||||||||||||
Others, Income/(loss) |
74,186 | 752,344 | 102,141 | 14,242 | — | 942,913 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income before income taxes |
3,199,966 |
3,625,195 |
487,850 |
4,816 |
(3,616,821 |
) |
3,701,006 |
|||||||||||||||||
Income tax expense |
— | (483,979 | ) | (10,718 | ) | (5,664 | ) | — | (500,361 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net income/(loss) |
3,199,966 |
3,141,216 |
477,132 |
(848 |
) |
(3,616,821 |
) |
3,200,645 |
||||||||||||||||
Net loss/(income) attributable to noncontrolling interests |
— | (679 | ) | — | — | — | (679 | ) | ||||||||||||||||
Net income attributable to Autohome Inc. |
3,199,966 |
3,140,537 |
477,132 |
(848 |
) |
(3,616,821 |
) |
3,199,966 |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | It represents the elimination of the intercompany service charge at the consolidation level. |
(2) | It represents the elimination of incurrence of losses by parent company and its subsidiaries for, or the receipt of economic benefits by parent company and its subsidiaries from, their respective subsidiaries and the VIEs. |
As of December 31, 2021 |
||||||||||||||||||||||||
Autohome Inc. |
Other Subsidiaries |
Primary Beneficiary of VIEs |
VIEs and VIEs’ subsidiaries |
Eliminations |
Consolidated Total |
|||||||||||||||||||
(RMB in thousands) |
||||||||||||||||||||||||
Cash and cash equivalents, restricted cash and short-term investments |
320,639 | 16,968,899 | 3,074,976 | 458,109 | — | 20,822,623 | ||||||||||||||||||
Amounts due from Group companies |
3,862,063 | 2,295,176 | 1,156,827 | 183,335 | (7,497,401 | ) | — | |||||||||||||||||
Other current assets |
7,117 | 2,342,777 | 58,677 | 94,524 | — | 2,503,095 | ||||||||||||||||||
Total current assets |
4,189,819 |
21,606,852 |
4,290,480 |
735,968 |
(7,497,401 |
) |
23,325,718 |
|||||||||||||||||
Investment in subsidiaries and VIEs |
||||||||||||||||||||||||
-Investment in subsidiaries (1) |
18,606,902 | 3,009,373 | 395,800 | — | (22,012,075 | ) | — | |||||||||||||||||
-Investment in VIE (1) |
— | — | 1,697,324 | — | (1,687,324 | ) | — | |||||||||||||||||
|
|
|||||||||||||||||||||||
Other non-current assets |
— | 3,135,986 | 144,454 | 1,922,848 | — | 5,203,288 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total non-current assets |
18,606,902 |
6,145,359 |
2,237,578 |
1,922,848 |
(23,709,399 |
) |
5,203,288 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total assets |
22,796,721 |
27,752,211 |
6,528,058 |
2,658,816 |
(31,206,800 |
) |
28,529,006 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Amounts due to Group companies |
22,740 | 4,713,764 | 2,235,914 | 524,983 | (7,497,401 | ) | — | |||||||||||||||||
Accrued expenses and other payables |
19,562 | 1,529,808 | 271,463 | 255,661 | — | 2,076,494 | ||||||||||||||||||
Advance from customers |
— | 34,610 | 61 | 88,699 | — | 123,370 | ||||||||||||||||||
Deferred revenue |
— | 1,495,984 | 25,544 | 31,485 | — | 1,553,013 | ||||||||||||||||||
Income tax payable |
— | 115,154 | 118,188 | — | — | 233,342 | ||||||||||||||||||
Total current liabilities |
42,302 |
7,889,320 |
2,651,170 |
900,828 |
(7,497,401 |
) |
3,986,219 |
|||||||||||||||||
|
|
|||||||||||||||||||||||
Total non-current liabilities |
— | 73,038 |
471,715 |
60,664 |
— |
605,417 |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total liabilities |
42,302 |
7,962,358 |
3,122,885 |
961,492 |
(7,497,401 |
) |
4,591,636 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Mezzanine equity |
— | 1,468,029 | — | — | — | 1,468,029 | ||||||||||||||||||
|
|
|||||||||||||||||||||||
Total Autohome Inc. shareholders’ equity |
22,754,419 |
18,606,902 |
3,405,173 |
1,697,324 |
(23,709,399 |
) |
22,754,419 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Noncontrolling interests |
— | (285,078 | ) | — | — | — | (285,078 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total shareholders’ equity |
22,754,419 |
18,321,824 |
3,405,173 |
1,697,324 |
(23,709,399 |
) |
22,469,341 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total liabilities, mezzanine equity and equity |
22,796,721 |
27,752,211 |
6,528,058 |
2,658,816 |
(31,206,800 |
) |
28,529,006 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | It represents the elimination of the equity investment in subsidiaries and VIEs by parent company, other subsidiaries, and primary beneficiary of VIEs. |
As of December 31, 2020 |
||||||||||||||||||||||||
Autohome Inc. |
Other Subsidiaries |
Primary Beneficiary of VIEs |
VIEs and VIEs’ subsidiaries |
Eliminations |
Consolidated Total |
|||||||||||||||||||
(RMB in thousands) |
||||||||||||||||||||||||
Cash and cash equivalents, restricted cash and short-term investments |
281,379 | 10,313,540 | 3,776,289 | 258,190 | — | 14,629,398 | ||||||||||||||||||
Amounts due from Group companies |
— | 2,482,058 | 1,440,420 | 129,223 | (4,051,701 | ) | — | |||||||||||||||||
Other current assets |
815,934 | 3,316,548 | 228,311 | 171,028 | (797,139 | ) | 3,734,682 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total current assets |
1,097,313 |
16,112,146 |
5,445,020 |
558,441 |
(4,848,840 |
) |
18,364,080 |
|||||||||||||||||
Investment in subsidiaries and VIEs |
||||||||||||||||||||||||
-Investment in subsidiaries (1) |
16,540,687 | 4,097,465 | 368,975 | — | (21,007,127 | ) | — | |||||||||||||||||
-Investment in VIE (1) |
— | — | 1,854,526 | — | (1,854,526 | ) | — | |||||||||||||||||
Other non-current assets |
— | 3,153,357 | 135,639 | 2,077,769 | — | 5,366,765 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total non-current assets |
16,540,687 |
7,250,822 |
2,359,140 |
2,077,769 |
(22,861,653 |
) |
5,366,765 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total assets |
17,638,000 |
23,362,968 |
7,804,160 |
2,636,210 |
(27,710,493 |
) |
23,730,845 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Accrued expenses and other payables |
12,266 | 2,596,144 | 348,591 | 497,742 | (797,139 | ) | 2,657,604 | |||||||||||||||||
Advance from customers |
— | 39,464 | 167 | 87,604 | — | 127,235 | ||||||||||||||||||
Deferred revenue |
— | 1,287,351 | 10,672 | 17,644 | — | 1,315,667 | ||||||||||||||||||
Income tax payable |
— | 85,177 | — | — | — | 85,177 | ||||||||||||||||||
Amounts due to Group companies |
— | 1,464,087 | 2,484,221 | 103,393 | (4,051,701 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total current liabilities |
12,266 |
5,472,223 |
2,843,651 |
706,383 |
(4,848,840 |
) |
4,185,683 |
|||||||||||||||||
Total non-current liabilities |
— | 167,000 |
494,069 |
75,301 |
— | 736,370 |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total liabilities |
12,266 |
5,639,223 |
3,337,720 |
781,684 |
(4,848,840 |
) |
4,922,053 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Mezzanine equity: |
— | 1,056,237 | — | — | — | 1,056,237 | ||||||||||||||||||
Total Autohome Inc. shareholders’ equity |
17,625,734 |
16,540,687 |
4,466,440 |
1,854,526 |
(22,861,653 |
) |
17,625,734 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Noncontrolling interests |
— | 126,821 | — | — | — | 126,821 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total shareholders’ equity |
17,625,734 |
16,667,508 |
4,466,440 |
1,854,526 |
(22,861,653 |
) |
17,752,555 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total liabilities, mezzanine equity and equity |
17,638,000 |
23,362,968 |
7,804,160 |
2,636,210 |
(27,710,493 |
) |
23,730,845 |
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(1) | It represents the elimination of the equity investment in subsidiaries and VIEs by parent company, other subsidiaries, and primary beneficiary of VIEs. |
For the Year Ended December 31, 2021 |
||||||||||||||||||||||||
Parent Only |
Other Equity Subsidiaries |
Primary Beneficiary of VIEs |
VIEs and VIEs’ subsidiaries |
Eliminations |
Consolidated Total |
|||||||||||||||||||
(RMB in thousands) |
||||||||||||||||||||||||
Net cash (used in)/provided by operating activities |
(10,770 | ) | 2,852,900 | 269,838 | 411,966 | — | 3,523,934 | |||||||||||||||||
Net cash (used in)/provided by investing activities |
(2,841,291 | ) | (4,681,424 | ) | 173,535 | (386,343 | ) | 3,922,510 | (3,813,013 | ) | ||||||||||||||
Net cash (used in)/provided by financing activities |
2,898,296 | 3,886,326 | (127,240 | ) | 163,424 | (3,922,510 | ) | 2,898,296 |
For the Year Ended December 31, 2020 |
||||||||||||||||||||||||
Parent Only |
Other Equity Subsidiaries |
Primary Beneficiary of VIEs |