BEIJING, Nov. 2, 2023
/PRNewswire/ -- Autohome Inc. (NYSE: ATHM; HKEX: 2518) ("Autohome"
or the "Company"), the leading online destination for automobile
consumers in China, today
announced its unaudited financial results for the three months
ended September 30, 2023.
Third Quarter 2023
Highlights[1]
- Net revenues in the third quarter of 2023 were
RMB1,906.0 million (US$261.2 million), compared to RMB1,843.3 million in the corresponding period of
2022.
- Net income attributable to Autohome in the
third quarter of 2023 was RMB578.3 million (US$79.3 million), compared to RMB507.8 million in the corresponding
period of 2022, and net income attributable to ordinary
shareholders in the third quarter of 2023 was RMB564.0 million (US$77.3
million), compared to RMB495.4 million in the corresponding period
of 2022.
- Adjusted net income attributable to Autohome
(Non-GAAP)[2] in the
third quarter of 2023 was RMB603.8
million (US$82.8 million),
compared to RMB590.0 million in the
corresponding period of 2022.
- Share repurchase: As of October
27, 2023, the Company had repurchased
6,248,945 American depositary shares ("ADSs") for a total cost
of approximately US$187.1
million.
Mr. Quan Long, Chairman of the
Board of Directors and Chief Executive Officer of Autohome, stated,
"In the third quarter of 2023, online marketplace and others
business continued to drive overall growth as we further optimize
our revenue structure. This marks our fifth straight quarter of top
and bottom-line growth on a year-over-year basis while consistently
maintaining a high net profit margin. During the quarter, we
accelerated the build out of our content ecosystem, which combines
efficient tools, content, and services to create a virtuous cycle
that drives growth across the platform. According to QuestMobile,
mobile DAUs in September increased 39.3% year-over-year to 69.01
million, underscoring our ability to steady strengthen leadership
position in the automotive media vertical. In addition, we continue
to explore new ways to develop, integrate, and create synergies
between the diverse business models across our ecosystem. We also
upgraded the foundational infrastructure and capabilities of our
digital platform to enhance the value of our data products. Looking
ahead, we will capitalize on the significant opportunities that new
energy vehicles ("NEVs") and digitalization present, support our
partners in the transformation of their businesses, and broaden the
services we have on offer, to ultimately create a one-stop
full-chain ecosystem capable of driving the long-term sustainable
growth."
Mr. Craig Yan Zeng, Chief
Financial Officer of Autohome, added, "Net revenues for the third
quarter were RMB1.91 billion, with
revenues from online marketplace and others business in particular
growing at a rapid clip, increasing 25.2% year-over-year and
accounting for 31.4% of total revenue. Revenues from both data
products and NEV brands continued to maintain momentum with growth
rates in the double digit for both when compared to the same period
last year. Notably, we refined our new retail business model by
integrating our used car business into Autohome Energy Space
stores. In addition to providing a one-stop service for selecting
and purchasing NEVs from multiple brands, these stores now also
offer consumers the opportunity to trade in their cars and apply
the proceeds towards the purchase of a new one, taking advantage of
the vehicle disposal capacity of TTP Car Inc. Our new retail
business is developing rapidly, with 13 Autohome Energy Space
stores now under construction in different cities across
China. Looking ahead, we will
continue to advance our ecosystem approach by creating new business
model that connect online and offline channels to help
automakers transform and adapt to NEV trends. We are confident that
our diversified businesses will drive Autohome's growth to the next
level."
Unaudited Third Quarter 2023 Financial Results
Net Revenues
Net revenues in the third quarter of 2023 were RMB1,906.0 million (US$261.2 million), compared to RMB1,843.3 million in the corresponding period of
2022.
- Media services revenues were RMB476.9 million (US$65.4
million) in the third quarter of 2023, compared to
RMB555.7 million in the corresponding
period of 2022.
- Leads generation services revenues were RMB830.1 million (US$113.8
million) in the third quarter of 2023, compared to
RMB809.1 million in the corresponding
period of 2022.
- Online marketplace and others revenues were RMB599.1 million (US$82.1
million) in the third quarter of 2023, compared to
RMB478.5 million in the corresponding
period of 2022, due primarily to increasing revenue contribution
from data products.
Cost of Revenues
Cost of revenues was RMB373.6
million (US$51.2 million) in
the third quarter of 2023, compared to RMB330.7 million in the corresponding period of
2022. The increase was primarily attributable to a rise in content
and operational costs. Share-based compensation expense included in
cost of revenues in the third quarter of 2023 was RMB2.8 million (US$0.4
million), compared to RMB2.2
million in the corresponding period of 2022.
Operating Expenses
Operating expenses were RMB1,431.4
million (US$196.2 million) in
the third quarter of 2023, compared to RMB1,385.8 million in the corresponding period of
2022.
- Sales and marketing expenses were RMB935.2 million (US$128.2
million) in the third quarter of 2023, compared to
RMB862.6 million in the corresponding
period of 2022, due primarily to an increase in marketing and
promotional expenses. Share-based compensation expense
included in sales and marketing expenses in the
third quarter of 2023 was RMB15.3
million (US$2.1 million),
compared to RMB9.5 million in the
corresponding period of 2022.
- General and administrative expenses were RMB141.0 million (US$19.3
million) in the third quarter of 2023, compared to
RMB136.4 million in the corresponding
period of 2022. Share-based compensation expense included in
general and administrative expenses in the third quarter of 2023
was RMB13.0 million (US$1.8 million), compared to RMB10.9 million in the corresponding period of
2022.
- Product development expenses were RMB355.2 million (US$48.7 million) in the third quarter of
2023, compared to RMB386.8 million in
the corresponding period of 2022, due primarily to a decrease in
personnel-related expenses. Share-based compensation
expense included in product development expenses in
the third quarter of 2023 was RMB26.8
million (US$3.7 million),
compared to RMB23.9 million in the
corresponding period of 2022.
Operating Profit
Operating profit was RMB166.0
million (US$22.8 million) in
the third quarter of 2023, compared to RMB191.7 million in the corresponding period of
2022.
Income Tax Benefit
There was an income tax benefit of RMB145.9 million (US$20.0
million) in the third quarter of 2023, compared to an income
tax benefit of RMB180.8 million in
the corresponding period of 2022. The income tax benefit was
primarily attributable to adjustments made to tax filings of the
previous year, which was mainly benefit from the PRC preferential
income tax rate and tax holiday of certain subsidiaries.
Net Income Attributable to Autohome
Net income attributable to Autohome was RMB578.3 million (US$79.3
million) in the third quarter of 2023, compared to
RMB507.8 million in the corresponding
period of 2022.
Net Income Attributable to
Ordinary Shareholders and Earnings per
Share/ADS
Net income attributable to ordinary shareholders was
RMB564.0 million (US$77.3 million) in the third quarter of 2023,
compared to RMB495.4 million in the
corresponding period of 2022. Basic and diluted earnings per share
("EPS") were RMB1.15 (US$0.16) and RMB1.15 (US$0.16),
respectively, in the third quarter of 2023, compared to basic and
diluted EPS of RMB0.99 and
RMB0.99, respectively, in the
corresponding period of 2022. Basic and diluted earnings per ADS
were RMB4.61 (US$0.63) and RMB4.59 (US$0.63),
respectively, in the third quarter of 2023, compared to basic and
diluted earnings per ADS of RMB3.98
and RMB3.97, respectively, in the
corresponding period of 2022.
Adjusted Net Income Attributable to
Autohome (Non-GAAP) and Non-GAAP
EPS/ADS
Adjusted net income attributable to Autohome (Non-GAAP) was
RMB603.8 million (US$82.8 million) in the third quarter of 2023,
compared to RMB590.0 million in the
corresponding period of 2022. Non-GAAP basic and diluted EPS were
RMB1.23 (US$0.17) and RMB1.23 (US$0.17),
respectively, in the third quarter of 2023, compared to non-GAAP
basic and diluted EPS of RMB1.18 and
RMB1.18, respectively, in the
corresponding period of 2022. Non-GAAP basic and diluted earnings
per ADS were RMB4.93 (US$0.68) and RMB4.92 (US$0.67),
respectively, in the third quarter of 2023, compared to non-GAAP
basic and diluted earnings per ADS of RMB4.73 and RMB4.72, respectively, in the corresponding
period of 2022.
Balance Sheet and Cash Flow
As of September 30, 2023, the
Company had cash and cash equivalents and short-term investments of
RMB23.43 billion (US$3.21 billion). Net cash provided by operating
activities in the third quarter of 2023 was RMB425.0 million (US$58.3
million).
Employees
The Company had 5,600 employees as of September 30, 2023, including 2,226 employees
from TTP Car, Inc.
Conference Call Information
The Company will host an earnings conference call at
8:00 AM U.S. Eastern Time on
Thursday, November 2, 2023
(8:00 PM Beijing Time on the same
day).
Please register in advance of the conference call using the
registration link provided below. Upon registering, each
participant will receive a set of participant dial-in numbers and a
personal PIN, which will be used to join the conference call.
Registration Link:
https://register.vevent.com/register/BI79cf0237be9c4246a515f0ee19a0a904
Please use the conference access information to join the call
ten minutes before the call is scheduled to begin.
Additionally, a live and archived webcast of the conference call
will be available at https://ir.autohome.com.cn and a replay of the
webcast will be available following the session.
About Autohome
Autohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online
destination for automobile consumers in China. Its mission is to relentlessly reduce
auto industry decision-making and transaction costs driven by
advanced technology. Autohome provides occupationally generated
content, professionally generated content, user-generated content,
and AI-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. 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
https://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 announcements made on the website of The Stock Exchange of Hong
Kong Limited (the "Hong Kong Stock Exchange"), 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; relevant
government policies and regulatory environment of China; 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 and announcements on the website of
the Hong Kong Stock Exchange. 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.
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, Non-GAAP basic
and diluted EPS and earnings per ADS, Adjusted net margin
and Adjusted EBITDA as non-GAAP financial measures. We define
Adjusted Net Income attributable to Autohome as net income
attributable to Autohome excluding share-based compensation
expenses, amortization of intangible assets resulting from business
acquisition, investment loss/(gain) relating to non-operating
impact of a write-down of the initial investment in a financial
product, and loss/(gain) pickup of equity method investments, with
all the reconciliation items adjusted for related income tax
effects. We define non-GAAP basic and diluted EPS as Adjusted Net
Income attributable to Autohome divided by the basic and diluted
weighted average number of ordinary shares. We define non-GAAP
basic and diluted earnings per ADS as Adjusted Net Income
attributable to Autohome divided by the basic and diluted weighted
average number of ADSs. We define Adjusted net margin as Adjusted
Net Income attributable to Autohome divided by total net revenues.
We define Adjusted EBITDA as net income attributable to Autohome
before income tax expense, depreciation expenses of property and
equipment, 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 non-cash charges or
items that are non-operating in nature. The use of the above
non-GAAP financial measures has certain limitations as they
excluded certain items that have been and will continue to be
incurred in the future, but such items 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 "Unaudited
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
Sterling Song
Investor Relations Director
Tel: +86-10-5985-7483
E-mail: ir@autohome.com.cn
Christensen China Limited
Suri Cheng
Tel: +86-185-0060-8364
E-mail: suri.cheng@christensencomms.com
AUTOHOME
INC.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS DATA
|
(Amount in
thousands, except per share / per ADS data)
|
|
|
|
|
|
For three
months ended September 30,
|
|
2022
|
|
2023
|
|
RMB
|
|
RMB
|
|
US$
|
|
Net
revenues:
|
|
|
|
|
|
|
Media
services
|
555,745
|
|
476,869
|
|
65,360
|
|
Leads generation
services
|
809,076
|
|
830,050
|
|
113,768
|
|
Online marketplace and
others
|
478,466
|
|
599,112
|
|
82,115
|
|
Total net
revenues
|
1,843,287
|
|
1,906,031
|
|
261,243
|
|
Cost of
revenues
|
(330,661)
|
|
(373,552)
|
|
(51,200)
|
|
Gross
profit
|
1,512,626
|
|
1,532,479
|
|
210,043
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(862,622)
|
|
(935,188)
|
|
(128,178)
|
|
General and
administrative expenses
|
(136,387)
|
|
(141,047)
|
|
(19,332)
|
|
Product development
expenses
|
(386,750)
|
|
(355,172)
|
|
(48,680)
|
|
Total operating
expenses
|
(1,385,759)
|
|
(1,431,407)
|
|
(196,190)
|
|
Other operating income,
net
|
64,879
|
|
64,965
|
|
8,904
|
|
Operating
profit
|
191,746
|
|
166,037
|
|
22,757
|
|
Interest and investment
income, net
|
152,858
|
|
207,365
|
|
28,422
|
|
(Loss) / gain from
equity method investments
|
(15,739)
|
|
54,897
|
|
7,524
|
|
Income before income
taxes
|
328,865
|
|
428,299
|
|
58,703
|
|
Income tax
benefit
|
180,842
|
|
145,888
|
|
19,996
|
|
Net
income
|
509,707
|
|
574,187
|
|
78,699
|
|
Net (income)/loss
attributable to noncontrolling
interests
|
(1,863)
|
|
4,151
|
|
569
|
|
Net income
attributable to Autohome
|
507,844
|
|
578,338
|
|
79,268
|
|
Accretion of mezzanine
equity
|
(35,565)
|
|
(38,304)
|
|
(5,250)
|
|
Accretion attributable
to noncontrolling interests
|
23,157
|
|
23,974
|
|
3,286
|
|
Net income
attributable to ordinary
shareholders
|
495,436
|
|
564,008
|
|
77,304
|
|
|
|
|
|
|
|
|
Earnings per share
for ordinary shares
|
|
|
|
|
|
|
Basic
|
0.99
|
|
1.15
|
|
0.16
|
|
Diluted
|
0.99
|
|
1.15
|
|
0.16
|
|
Earnings per ADS
attributable to ordinary
shareholders (one ADS equals for four
ordinary shares)
|
|
|
|
|
|
|
Basic
|
3.98
|
|
4.61
|
|
0.63
|
|
Diluted
|
3.97
|
|
4.59
|
|
0.63
|
|
|
|
|
|
|
|
|
Weighted average
shares used to compute earnings
per share
attributable to ordinary shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
498,413,636
|
|
489,632,372
|
|
489,632,372
|
|
Diluted
|
499,473,616
|
|
490,986,544
|
|
490,986,544
|
|
|
|
|
|
|
|
|
|
|
|
AUTOHOME
INC.
|
UNAUDITED
RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS
|
(Amount in thousands,
except per share / per ADS data)
|
|
|
|
|
|
|
|
For three months
ended September 30,
|
|
2022
|
|
2023
|
|
RMB
|
|
RMB
|
|
US$
|
Net income
attributable to Autohome
|
507,844
|
|
578,338
|
|
79,268
|
Plus: income tax
expense/(benefit)
|
(179,501)
|
|
(144,548)
|
|
(19,812)
|
Plus: depreciation of
property and equipment
|
55,522
|
|
38,737
|
|
5,309
|
Plus: amortization of
intangible assets
|
10,845
|
|
9,657
|
|
1,324
|
EBITDA
|
394,710
|
|
482,184
|
|
66,089
|
Plus: share-based
compensation
expenses
|
46,498
|
|
57,934
|
|
7,941
|
Adjusted
EBITDA
|
441,208
|
|
540,118
|
|
74,030
|
|
|
|
|
|
|
Net income
attributable to Autohome
|
507,844
|
|
578,338
|
|
79,268
|
Plus: amortization of
intangible assets resulting
from business acquisition
|
10,722
|
|
9,583
|
|
1,313
|
Plus: share-based
compensation
expenses
|
46,498
|
|
57,934
|
|
7,941
|
Plus: investment loss
arising from one of financial
products[3]
|
14,823
|
|
8,719
|
|
1,195
|
Plus: loss/(gain) on
equity method investments,
net
|
15,739
|
|
(54,897)
|
|
(7,524)
|
Plus: tax effects of
the adjustments
|
(5,647)
|
|
4,108
|
|
563
|
Adjusted net income
attributable to
Autohome
|
589,979
|
|
603,785
|
|
82,756
|
|
|
|
|
|
|
Net income
attributable to Autohome
|
507,844
|
|
578,338
|
|
79,268
|
Net
margin
|
27.6 %
|
|
30.3 %
|
|
30.3 %
|
Adjusted net income
attributable to
Autohome
|
589,979
|
|
603,785
|
|
82,756
|
Adjusted net
margin
|
32.0 %
|
|
31.7 %
|
|
31.7 %
|
|
|
|
|
|
|
Non-GAAP earnings
per share
|
|
|
|
|
|
Basic
|
1.18
|
|
1.23
|
|
0.17
|
Diluted
|
1.18
|
|
1.23
|
|
0.17
|
Non-GAAP earnings
per ADS (one ADS
equals for four ordinary shares)
|
|
|
|
|
|
Basic
|
4.73
|
|
4.93
|
|
0.68
|
Diluted
|
4.72
|
|
4.92
|
|
0.67
|
|
|
|
|
|
|
Weighted average
shares used to compute
non-GAAP earnings
per share:
|
|
|
|
|
|
Basic
|
498,413,636
|
|
489,632,372
|
|
489,632,372
|
Diluted
|
499,473,616
|
|
490,986,544
|
|
490,986,544
|
|
|
|
|
|
|
AUTOHOME
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEET
|
(Amount in thousands,
except as noted)
|
|
As of
December
31,
|
|
As
of September 30,
|
|
2022
|
|
2023
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
2,801,299
|
|
1,801,253
|
|
246,882
|
Restricted
cash
|
9,175
|
|
1,604
|
|
220
|
Short-term
investments
|
19,279,592
|
|
21,627,386
|
|
2,964,280
|
Accounts receivable,
net
|
1,927,699
|
|
1,376,029
|
|
188,600
|
Amounts due from
related parties, current
|
49,644
|
|
45,725
|
|
6,267
|
Prepaid expenses and
other current assets
|
357,522
|
|
422,903
|
|
57,964
|
Total current
assets
|
24,424,931
|
|
25,274,900
|
|
3,464,213
|
Non-current
assets
|
|
|
|
|
|
Restricted cash,
non-current
|
5,000
|
|
5,000
|
|
685
|
Property and equipment,
net
|
255,298
|
|
195,517
|
|
26,798
|
Goodwill and intangible
assets, net
|
4,220,305
|
|
4,162,552
|
|
570,525
|
Long-term
investments
|
419,208
|
|
440,980
|
|
60,441
|
Deferred tax
assets
|
265,606
|
|
246,883
|
|
33,838
|
Amounts due from
related parties, non-current
|
9,419
|
|
17,797
|
|
2,439
|
Other non-current
assets
|
116,052
|
|
177,418
|
|
24,318
|
Total non-current
assets
|
5,290,888
|
|
5,246,147
|
|
719,044
|
Total
assets
|
29,715,819
|
|
30,521,047
|
|
4,183,257
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Accrued expenses and
other payables
|
2,537,281
|
|
2,656,363
|
|
364,085
|
Advance from
customers
|
96,047
|
|
103,511
|
|
14,187
|
Deferred
revenue
|
1,147,131
|
|
1,104,072
|
|
151,326
|
Income tax
payable
|
251,121
|
|
118,409
|
|
16,229
|
Amounts due to related
parties
|
27,096
|
|
20,880
|
|
2,862
|
Total current
liabilities
|
4,058,676
|
|
4,003,235
|
|
548,689
|
Non-current
liabilities
|
|
|
|
|
|
Other
liabilities
|
50,591
|
|
80,753
|
|
11,068
|
Deferred tax
liabilities
|
517,926
|
|
506,565
|
|
69,431
|
Total non-current
liabilities
|
568,517
|
|
587,318
|
|
80,499
|
Total
liabilities
|
4,627,193
|
|
4,590,553
|
|
629,188
|
|
|
|
|
|
|
MEZZANINE
EQUITY
|
|
|
|
|
|
Convertible redeemable
noncontrolling interests
|
1,605,639
|
|
1,719,128
|
|
235,626
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
Total Autohome
shareholders' equity
|
23,888,842
|
|
24,695,592
|
|
3,384,812
|
Noncontrolling
interests
|
(405,855)
|
|
(484,226)
|
|
(66,369)
|
Total
equity
|
23,482,987
|
|
24,211,366
|
|
3,318,443
|
Total liabilities,
mezzanine equity and equity
|
29,715,819
|
|
30,521,047
|
|
4,183,257
|
[1] The reporting
currency of the Company is Renminbi ("RMB"). For readers'
convenience, certain amounts throughout the release are presented
in US dollars ("US$"). Unless otherwise noted, all conversions from
RMB to US$ are translated at the noon buying rate of US$1.00 to
RMB7.2960 on September 29, 2023 in the City of New York for cable
transfers of RMB as certified for customs purposes by the Federal
Reserve Bank of New York. No representation is made that the RMB
amounts could have been, or could be, converted into US$ at such
rate.
|
[2] 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 "Unaudited Reconciliations of Non-GAAP and
GAAP Results" set forth at the end of this release.
|
[3] It represented
the loss of an investment with fair value below its initial
investment, which was recognized at "interest and investment
income, net". The impact was considered to be not directly related
to the Company's operating activities.
|
View original
content:https://www.prnewswire.com/news-releases/autohome-inc-announces-unaudited-2023-third-quarter-financial-results-301975401.html
SOURCE Autohome Inc.