Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Autohome Inc. |
Entity Central Index Key | 0001527636 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 479,219,628 |
Entity Voluntary Filers | No |
Document Annual Report | true |
Document Transition Report | false |
Entity Interactive Data Current | Yes |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | U.S. GAAP |
Document Shell Company Report | false |
Entity File Number | 001-36222 |
Entity Incorporation, State or Country Code | E9 |
Document Registration Statement | false |
Entity Address, Address Line One | 18th Floor Tower B, CEC Plaza |
Entity Address, Address Line Two | 3 Dan Ling Street |
Entity Address, City or Town | Haidian District |
Entity Address, Postal Zip Code | 100080 |
Entity Address, Country | CN |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Jun Zou |
Entity Address, Address Line One | 18th Floor Tower B, CEC Plaza |
Entity Address, Address Line Two | 3 Dan Ling Street |
Entity Address, City or Town | Haidian District |
Entity Address, Postal Zip Code | 100080 |
Entity Address, Country | CN |
City Area Code | 86 (10) |
Local Phone Number | 5985-7001 |
ADS [Member] | |
Document Information [Line Items] | |
Trading Symbol | ATHM |
Security Exchange Name | NYSE |
Title of 12(b) Security | American depositary shares, each representing four ordinary shares |
Ordinary Shares [Member] | |
Document Information [Line Items] | |
Security Exchange Name | NYSE |
Title of 12(b) Security | Ordinary shares, par value US$0.0025 per share |
No Trading Symbol Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Current assets: | ||||
Cash and cash equivalents | ¥ 1,751,222 | $ 268,387 | ¥ 1,988,298 | |
Short-term investments | 12,878,176 | 1,973,667 | 10,806,812 | |
Accounts receivable (net of allowance for doubtful accounts of RMB33,989 and RMB128,199 (US$19,647) as of December 31, 2019 and 2020, respectively) | 3,124,197 | 478,804 | 3,231,486 | |
Amounts due from related parties, current | 47,303 | 7,250 | 29,501 | |
Prepaid expenses and other current assets | 563,182 | 86,311 | 302,285 | |
Total current assets | 18,364,080 | 2,814,419 | 16,358,382 | |
Non-current assets: | ||||
Restricted cash | 17,926 | 2,747 | 5,200 | |
Property and equipment, net | 410,081 | 62,848 | 281,773 | |
Intangible assets, net | 440,421 | 67,497 | 27,746 | |
Goodwill | 4,071,391 | 623,968 | 1,504,278 | |
Long-term investments | 70,418 | 10,792 | 71,664 | |
Amounts due from related parties, non-current | 18,163 | 2,784 | 4,509 | |
Deferred tax assets | 79,661 | 12,209 | 27,782 | |
Other non-current assets | 258,704 | 39,647 | 874,531 | |
Total non-current assets | 5,366,765 | 822,492 | 2,797,483 | |
Total assets | 23,730,845 | 3,636,911 | 19,155,865 | |
Current liabilities: | ||||
Accrued expenses and other payables | 2,577,709 | 395,051 | 2,417,438 | |
Advance from customers | 127,235 | 19,500 | 95,636 | |
Deferred revenue | 1,315,667 | 201,635 | 1,370,953 | |
Income tax payable | 85,177 | 13,054 | 45,489 | |
Amounts due to related parties | 79,895 | 12,244 | 36,387 | |
Total current liabilities | 4,185,683 | 641,484 | 3,965,903 | |
Non-current liabilities | ||||
Other liabilities | 104,861 | 16,071 | 45,534 | |
Deferred tax liabilities | 631,509 | 96,783 | 538,487 | |
Total non-current liabilities (including non-current liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB19,504 and RMB11,731 (US$1,797) as of December 31, 2019 and 2020, respectively) | 736,370 | 112,854 | 584,021 | |
Total liabilities (including total liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB212,807 and RMB614,721 (US$94,209) as of December 31, 2019 and 2020, respectively) | 4,922,053 | 754,338 | 4,549,924 | |
Commitments and contingencies | ||||
Mezzanine equity: | ||||
Convertible redeemable noncontrolling interests | 1,056,237 | 161,875 | ||
Shareholders' equity: | ||||
Ordinary shares (par value of US$0.0025 per share; 400,000,000,000 ordinary shares authorized; 475,706,748 and 479,219,628 ordinary shares issued and outstanding, as of December 31, 2019 and 2020, respectively) | [1] | 8,089 | 1,240 | 8,029 |
Additional paid-in capital | 4,089,763 | 626,784 | 3,774,373 | |
Accumulated other comprehensive income | 62,295 | 9,547 | 148,415 | |
Retained earnings | 13,465,587 | 2,063,691 | 10,698,280 | |
Total Autohome Inc. shareholders' equity | 17,625,734 | 2,701,262 | 14,629,097 | |
Noncontrolling interests | 126,821 | 19,436 | (23,156) | |
Total equity | 17,752,555 | 2,720,698 | 14,605,941 | |
Total liabilities, mezzanine equity and equity | ¥ 23,730,845 | $ 3,636,911 | ¥ 19,155,865 | |
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥)shares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019CNY (¥)shares | |||
Allowance for doubtful accounts | ¥ 128,199 | $ 19,647 | ¥ 33,989 | |||
Total current liabilities | 4,185,683 | 641,484 | 3,965,903 | |||
Total non-current liabilities | 736,370 | 112,854 | 584,021 | |||
Total liabilities | ¥ 4,922,053 | $ 754,338 | ¥ 4,549,924 | |||
Ordinary shares, par value | $ / shares | $ 0.0025 | |||||
Ordinary shares, shares authorized | 400,000,000,000 | 400,000,000,000 | 400,000,000,000 | |||
Ordinary shares, shares issued | 479,219,628 | 479,219,628 | 475,706,748 | |||
Ordinary shares, shares outstanding | 479,219,628 | [1] | 479,219,628 | [1] | 475,706,748 | [1] |
Consolidated VIEs [Member] | ||||||
Total current liabilities | ¥ 602,990 | $ 92,412 | ¥ 193,303 | |||
Total non-current liabilities | 11,731 | 1,797 | 19,504 | |||
Total liabilities | ¥ 614,721 | $ 94,209 | ¥ 212,807 | |||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | ||||
Net revenues: | |||||||
Total net revenues | ¥ 8,658,559 | $ 1,326,981 | ¥ 8,420,751 | ¥ 7,233,151 | |||
Cost of revenues (including related party transactions of RMB24,771, RMB41,591 and RMB61,566 (US$9,435) for the years ended December 31, 2018, 2019 and 2020, respectively) | (961,170) | (147,306) | (960,292) | (820,288) | |||
Gross profit | 7,697,389 | 1,179,675 | 7,460,459 | 6,412,863 | |||
Operating expenses: | |||||||
Sales and marketing expenses | (3,246,507) | (497,549) | (3,093,345) | (2,435,236) | |||
General and administrative expenses (including provision for doubtful accounts of RMB2,215, RMB36,676 and RMB95,683 (US$14,664) for the years ended December 31, 2018, 2019 and 2020, respectively) | (381,843) | (58,520) | (317,967) | (314,846) | |||
Product development expenses | (1,364,227) | (209,077) | (1,291,054) | (1,135,247) | |||
Total Operating expenses (including related party transactions of RMB74,302, RMB67,810 and RMB99,763 (US$15,289) for the years ended December 31, 2018, 2019 and 2020, respectively) | (4,992,577) | (765,146) | (4,702,366) | (3,885,329) | |||
Other income, net | 443,215 | 67,926 | 477,699 | 341,391 | |||
Operating profit | 3,148,027 | 482,455 | 3,235,792 | 2,868,925 | |||
Interest income (including related party transactions of RMB50,968, RMB47,459 and RMB63,558 (US$9,741) for the years ended December 31, 2018, 2019 and 2020, respectively) | 537,389 | 82,358 | 469,971 | 358,811 | |||
Earnings/(loss) from equity method investments | (1,246) | (191) | 685 | 24,702 | |||
Fair value change of other current and non-current assets | (15,658) | (2,400) | (5,442) | (11,017) | |||
Income before income taxes | 3,668,512 | 562,222 | 3,701,006 | 3,241,421 | |||
Income tax expense | (260,945) | (39,992) | (500,361) | (377,890) | |||
Net income | 3,407,567 | 522,230 | 3,200,645 | 2,863,531 | |||
Net loss/(income) attributable to noncontrolling interests | (2,338) | (358) | (679) | 7,484 | |||
Net income attributable to Autohome Inc. | ¥ 3,405,229 | $ 521,872 | ¥ 3,199,966 | ¥ 2,871,015 | |||
Earnings per share for ordinary shares: | |||||||
Basic | (per share) | ¥ 7.13 | $ 1.09 | ¥ 6.75 | [1] | ¥ 6.10 | [1] | |
Diluted | (per share) | ¥ 7.10 | $ 1.09 | ¥ 6.69 | [1] | ¥ 6.02 | [1] | |
Weighted average number of shares used to compute earnings per share attributable to common stockholders: | |||||||
Basic | [1] | 477,467,268 | 477,467,268 | 474,328,384 | 470,687,884 | ||
Diluted | [1] | 479,686,380 | 479,686,380 | 478,060,988 | 476,941,516 | ||
Net income | ¥ 3,407,567 | $ 522,230 | ¥ 3,200,645 | ¥ 2,863,531 | |||
Other comprehensive income/(loss), net of tax of nil | |||||||
Foreign currency translation adjustments | (86,120) | (13,198) | 20,040 | 58,421 | |||
Comprehensive income | 3,321,447 | 509,032 | 3,220,685 | 2,921,952 | |||
Comprehensive loss/(income) attributable to noncontrolling interests | (2,338) | (358) | (679) | 7,484 | |||
Comprehensive income attributable to Autohome Inc. | ¥ 3,319,109 | $ 508,674 | ¥ 3,220,006 | ¥ 2,929,436 | |||
ADR [Member] | |||||||
Earnings per share for ordinary shares: | |||||||
Basic | (per share) | ¥ 28.53 | $ 4.37 | ¥ 26.99 | ¥ 24.40 | |||
Diluted | (per share) | ¥ 28.40 | $ 4.35 | ¥ 26.77 | ¥ 24.08 | |||
Media Services [Member] | |||||||
Net revenues: | |||||||
Total net revenues | ¥ 3,455,056 | $ 529,510 | ¥ 3,653,767 | ¥ 3,508,254 | |||
Leads Generation Services [Member] | |||||||
Net revenues: | |||||||
Total net revenues | 3,198,832 | 490,242 | 3,275,544 | 2,870,996 | |||
Online Marketplace And Other Service [Member] | |||||||
Net revenues: | |||||||
Total net revenues | ¥ 2,004,671 | $ 307,229 | ¥ 1,491,440 | ¥ 853,901 | |||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥)Customer | Dec. 31, 2020USD ($)Customer | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Income Statement [Abstract] | ||||
Revenue from Related Parties | ¥ 621,845 | $ 95,302 | ¥ 447,350 | ¥ 473,590 |
Related Parties Amount In Cost Of Revenue | 61,566 | 9,435 | 41,591 | 24,771 |
Provision for doubtful accounts | 95,683 | 14,664 | 36,676 | 2,215 |
Operating Expenses, Related Party Costs | 99,763 | 15,289 | 67,810 | 74,302 |
Interest Income, Related Party | ¥ 63,558 | $ 9,741 | ¥ 47,459 | ¥ 50,968 |
No of ordinary shares per Ads after division | 4 | 4 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net income | ¥ 3,407,567 | $ 522,230 | ¥ 3,200,645 | ¥ 2,863,531 |
Adjustments to reconcile net income to net cash from operating activities: | ||||
Depreciation of property and equipment | 158,229 | 24,250 | 106,941 | 90,270 |
Amortization of intangible assets | 12,045 | 1,846 | 11,662 | 11,623 |
Non-cash lease expense | 108,904 | 16,690 | 122,427 | |
Loss/(gain) on disposal of property and equipment | (249) | (38) | 83 | 789 |
Provision for doubtful accounts | 95,683 | 14,664 | 36,676 | 2,215 |
(Earnings)/loss from equity method investments | 1,246 | 191 | (685) | (24,702) |
Fair value change of short-term investments | 9,042 | 1,386 | 20,662 | (29,730) |
Fair value change of other current and non-current assets | 15,658 | 2,400 | 5,442 | 11,017 |
Interest income of convertible bond | (77,720) | (11,911) | (70,889) | (36,172) |
Share-based compensation | 211,206 | 32,369 | 204,008 | 202,325 |
Deferred income taxes | (22,427) | (3,437) | 144,963 | 102,111 |
Changes in operating assets and liabilities: | ||||
Accounts receivable | (39,910) | (6,116) | (479,538) | (904,313) |
Amounts due from related parties, current | (17,802) | (2,728) | 4,546 | (9,545) |
Prepaid expenses and other current assets | (217,720) | (33,367) | (50,995) | (62,813) |
Amounts due from related parties, non-current | (13,654) | (2,093) | (2,468) | 8,915 |
Other non-current assets | (252,877) | (38,755) | (186,591) | (3,580) |
Accrued expenses and other payables | (158,270) | (24,257) | (22,630) | 807,333 |
Advance from customers | 31,599 | 4,843 | 20,619 | 4,563 |
Deferred revenue | (55,286) | (8,473) | (139,773) | 101,241 |
Income tax payable | 39,688 | 6,083 | (73,721) | (25,169) |
Amounts due to related parties | 43,508 | 6,668 | 16,519 | 9,583 |
Other liabilities | 47,171 | 7,230 | 21,466 | (8,054) |
Net cash generated from operating activities | 3,325,631 | 509,675 | 2,889,369 | 3,111,438 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchase of property and equipment | (263,892) | (40,443) | (204,113) | (113,796) |
Proceeds from disposal of property and equipment | 388 | 59 | 621 | 665 |
Purchase of intangible assets | (573) | (88) | (104) | |
Cash consideration paid for the acquisition, net of cash acquired | (639,760) | (98,048) | ||
Purchase of convertible bond | (643,496) | |||
Proceeds from disposal of long-term investments | 51,500 | |||
Purchase of short-term investments | (40,050,012) | (6,137,933) | (42,660,267) | (54,532,940) |
Maturity of short-term investments | 37,968,391 | 5,818,911 | 41,695,492 | 51,936,932 |
Net cash used in investing activities | (2,985,458) | (457,542) | (1,168,267) | (3,301,239) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from exercise of share options | 104,154 | 15,963 | 68,676 | 51,811 |
Payment of dividends | (651,121) | (99,788) | (595,779) | |
Net cash (used in)/generated from financing activities | (546,967) | (83,825) | 68,676 | (543,968) |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (17,556) | (2,690) | (13,250) | 39,151 |
Net (decrease)/increase in cash and cash equivalents and restricted cash | (224,350) | (34,382) | 1,776,528 | (694,618) |
Cash and cash equivalents and restricted cash at beginning of year | 1,993,498 | 305,516 | 216,970 | 911,588 |
Cash and cash equivalents and restricted cash at end of year | 1,769,148 | 271,134 | 1,993,498 | 216,970 |
Supplemental disclosures of cash flow information: | ||||
Income taxes paid | 563,415 | 86,347 | 430,308 | 362,835 |
Purchase of fixed assets included in accrued expenses and other payables | 34,061 | 5,220 | 20,382 | ¥ 27,132 |
Cash paid for amounts included in the measurement of operating lease liabilities | 135,773 | 20,808 | 132,096 | |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ¥ 217,668 | $ 33,359 | ¥ 54,315 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity ¥ in Thousands, $ in Thousands | CNY (¥)shares | USD ($)shares | Ordinary sharesCNY (¥) | Ordinary sharesUSD ($) | Additional paid-in capitalCNY (¥) | Additional paid-in capitalUSD ($) | Accumulated other comprehensive incomeCNY (¥) | Accumulated other comprehensive incomeUSD ($) | Retained earningsCNY (¥) | Retained earningsUSD ($) | Noncontrolling interestsCNY (¥) | Noncontrolling interestsUSD ($) | |
Beginning balance, Amount at Dec. 31, 2017 | ¥ 7,935,286 | ¥ 7,909 | ¥ 3,246,475 | ¥ 69,954 | ¥ 4,627,299 | ¥ (16,351) | |||||||
Beginning balance, Shares at Dec. 31, 2017 | shares | [1] | 468,563,424 | 468,563,424 | ||||||||||
Net income/(loss) | ¥ 2,863,531 | 2,871,015 | (7,484) | ||||||||||
Other comprehensive income: | |||||||||||||
Foreign currency translation adjustments | 58,421 | 58,421 | |||||||||||
Exercise and vesting of share-based awards | ¥ 51,880 | 60 | 51,820 | ||||||||||
Exercise and vesting of share-based awards, Shares | shares | [1] | 3,661,956 | 3,661,956 | ||||||||||
Share-based compensation | ¥ 202,325 | 202,325 | |||||||||||
Ending balance, Amount at Dec. 31, 2018 | ¥ 11,111,443 | 7,969 | 3,500,620 | 128,375 | 7,498,314 | (23,835) | |||||||
Ending balance, Shares at Dec. 31, 2018 | shares | [1] | 472,225,380 | 472,225,380 | ||||||||||
Net income/(loss) | ¥ 3,200,645 | 3,199,966 | 679 | ||||||||||
Other comprehensive income: | |||||||||||||
Foreign currency translation adjustments | 20,040 | 20,040 | |||||||||||
Exercise and vesting of share-based awards | ¥ 69,805 | 60 | 69,745 | ||||||||||
Exercise and vesting of share-based awards, Shares | shares | [1] | 3,481,368 | 3,481,368 | ||||||||||
Share-based compensation | ¥ 204,008 | 204,008 | |||||||||||
Ending balance, Amount at Dec. 31, 2019 | ¥ 14,605,941 | 8,029 | 3,774,373 | 148,415 | 10,698,280 | (23,156) | |||||||
Ending balance, Shares at Dec. 31, 2019 | shares | [1] | 475,706,748 | 475,706,748 | ||||||||||
Net income/(loss) | ¥ 3,407,567 | $ 522,230 | 3,405,229 | 2,338 | |||||||||
Other comprehensive income: | |||||||||||||
Foreign currency translation adjustments | (86,120) | $ (13,198) | (86,120) | ||||||||||
Acquisition of a subsidiary | 147,639 | 147,639 | |||||||||||
Dividends declared (US$0.77 per ordinary share before the Share Subdivision; RMB637,922 to ordinary shareholders) | [1] | (637,922) | (637,922) | ||||||||||
Exercise and vesting of share-based awards | ¥ 104,244 | 60 | 104,184 | ||||||||||
Exercise and vesting of share-based awards, Shares | shares | [1] | 3,512,880 | 3,512,880 | ||||||||||
Share-based compensation | ¥ 211,206 | 211,206 | |||||||||||
Ending balance, Amount at Dec. 31, 2020 | ¥ 17,752,555 | $ 2,720,698 | ¥ 8,089 | $ 1,240 | ¥ 4,089,763 | $ 626,784 | ¥ 62,295 | $ 9,547 | ¥ 13,465,587 | $ 2,063,691 | ¥ 126,821 | $ 19,436 | |
Ending balance, Shares at Dec. 31, 2020 | shares | [1] | 479,219,628 | 479,219,628 | ||||||||||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) ¥ in Thousands | 12 Months Ended |
Dec. 31, 2020$ / shares | |
Ordinary shares | |
Common Stock Dividends, Declared | $ 0.77 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | 1. ORGANIZATION Autohome Inc., formerly known as Sequel Limited (the “Company”), was incorporated under the laws of the Cayman Islands on June 23, 2008. Upon incorporation, the Company was 100% owned by Telstra Holdings Pty Ltd. (“Telstra”). On June 27, 2008 (the “Acquisition date”), the Company acquired Cheerbright International Holdings Limited (“Cheerbright”), China Topside Co., Ltd. (“China Topside”), and Norstar Advertising Media Holdings Co., Ltd. (“Norstar”), and their respective wholly foreign-owned enterprises and variable interest entities (“VIEs”). Subsequent to the acquisition, the Company was owned 55% by Telstra, and 45% by the selling shareholders of Cheerbright, China Topside and Norstar. In May 2012, Telstra acquired additional ordinary shares of the Company from other shareholders. In June 2016, Telstra completed the sale of approximately 47.4% of the then total issued shares in the Company to Yun Chen Capital Cayman (“Yun Chen”), a subsidiary of Ping An Insurance (Group) Company of China Ltd. (“Ping An”) and on February 22, 2017, Yun Chen further acquired from Telstra approximately of the then total issued shares in the Company. After the consummation of the sale, Yun Chen has become the Company’s controlling shareholder since June 2016. The Company successfully completed its IPO and listing of 8,993,000 American Depositary Shares (“ADSs”) on the New York Stock Exchange in December, 2013, and raised net proceeds of US$142,590 from the offering. Each ADS represents four ordinary shares (previously 1 ADS represents 1 before the ADS Ratio Change as detailed in Note 2(a)). Upon the completion of IPO in December 2013, the Company’s dual-class ordinary share structure came into effect (Note 15). Upon the completion of follow-on offering in November 2014, ADSs were issued by the Company and Class B ordinary shares before the Share Subdivision as detailed in Note 2(a) were converted into Class A ordinary shares. The net proceeds from the follow-on offering amounted to US$ net of issuance cost. Upon the transfer of % share ownership by Telstra to Yun Chen in June 2016, all the Class B ordinary shares were converted into Class A ordinary shares. As of December 31, 2020, the Company had 479,219,628 issued and outstanding ordinary shares after taking into account the effects of the Share Subdivision as detailed in Note 2(a). Yun Chen was the Company’s controlling shareholder holding % of the total equity interest in the Company as of December 31, 2020. The Company, through its subsidiaries and VIEs (as disclosed in the table below), is engaged in the provision of media services, leads generation services and online marketplace and others. As of December 31, 2020, the Company’s principal subsidiaries and VIEs where Autohome WFOE, Chezhiying WFOE and TTP WFOE are the primary beneficiaries include the following entities: Entity Date of Place of incorporation Percentage of Principal Subsidiaries Cheerbright International Holdings, Limited (“Cheerbright”) June 13, 2006 British Virgin Islands 100 % Autohome E-commerce February 6, 2015 Cayman Islands 100 % Autohome Link Inc. January 29, 2015 Cayman Islands 100 % TTP Car Inc. (“TTP”) June 12, 2015 Cayman Islands 49 % (Note) Autohome (Hong Kong) Limited (“Autohome HK”) March 16, 2012 Hong Kong 100 % Autohome Link Hong Kong Limited February 16, 2015 Hong Kong 100 % Autohome Media Limited (“Autohome October 18, 2013 Hong Kong 100 % Fetchauto Limited (UK) October 8, 2019 United Kingdom 100 % Fetchauto Limited (Ireland) October 18, 2019 Ireland 100 % FetchAuto GmbH December 23, 2019 Germany 100 % TTP CAR (HK) Limited June 23, 2015 Hong Kong 49 % Beijing Cheerbright Technologies Co., Ltd. (“Autohome WFOE”) September 1, 2006 PRC 100 % Autohome Shanghai Advertising Co., Ltd. (“Shanghai Advertising”) September 29, 2013 PRC 100 % Beijing Prbrownies Software Co., Ltd. (formerly known as “Beijing Autohome Software Co., Ltd.”) November 12, 2013 PRC 100 % Beijing Autohome Technologies Co., Ltd. November 12, 2013 PRC 100 % Beijing Autohome Advertising Co., Ltd. November 13, 2013 PRC 100 % Guangzhou Autohome Advertising Co., Ltd. November 25, 2013 PRC 100 % Beijing Chezhiying Technology Co., Ltd. May 26, 2015 PRC 100 % Beijing Kemoshijie Technology Co., Ltd. September 11, 2015 PRC 75 % Chengdu Prbrownies Software Co., Lt d September 30, 2016 PRC 100 % Guangzhou Chezhihuitong Advertising Co., Ltd. August 20, 2018 PRC 100 % Hainan Chezhiyitong Information Technology Co., Ltd. August 20, 2018 PRC 100 % Tianjin Autohome Data Information Technology Co., Ltd. October 15, 2018 PRC 100 % Autohome Zhejiang Advertising Co., Ltd. December 19, 2018 PRC 100 % Shanghai Jinpai E-commerce . July 31, 2015 PRC 49 % Principal VIEs and VIEs’ subsidiaries Beijing Autohome Information Technology Co., Ltd. (“Autohome Information”) August 28, 2006 PRC — Beijing Shengtuo Hongyuan Information Technology Co., Ltd. (“Shengtuo Hongyuan”) November 8, 2010 PRC — Shanghai Tianhe Insurance Brokerage Co., Ltd. September 21, 2017 PRC — Shanghai Jinwu Auto Technology Consultant Co., Ltd. (“Shanghai Jinwu”) September 20, 2007 PRC — Note: The Company, its subsidiaries and VIEs are hereinafter collectively referred to as the “Group”. The Group provides media services, leads generation services and online marketplace and others through its websites and mobile applications. These services are primarily offered to automakers and dealers, and advertising agencies that represent automakers and dealers in the automobile industry, and financial institutions. The Group’s principal geographic market is in the PRC. The Company does not conduct any substantive operations of its own but conducts its primary business operations through its wholly-owned subsidiaries and VIEs. PRC laws and regulations prohibit or restrict foreign ownership of internet content businesses. To comply with these foreign ownership restrictions, the Company and its subsidiaries operate websites and mobile applications and conduct its business related to internet content services through VIEs. The paid-in , WFOE and TTP WFOE , through loans extended to the VIEs’ shareholders (“Nominee Shareholders”). The effective control of the VIEs is held by WFOEs, through a series of contractual agreements (the “Contractual Agreements”). As a result of the Contractual Agreements, the WFOEs maintain the ability to control the VIEs, are entitled to substantially all of the economic benefits from the VIEs and are obligated to absorb all of the VIE’s expected losses. In September 2016 and March 2017, the then individual nominee shareholders of Shengtuo Hongyuan, Autohome Information and Shanghai Advertising (the Company’s previous VIE that is already dissolved and registered in July 2020), entered into Equity Interest Purchase Agreements and Debt Transfer and Offset Agreements with Min Lu and Haiyun Lei, pursuant to which the then individual nominee shareholders transferred all of their equity interest in each of the entities to Min Lu and Haiyun Lei. In September 2016 and in March 2017, each of Autohome WFOE and Chezhiying WFOE, and each of Shengtuo Hongyuan and its two subsidiaries, Autohome Information and its two subsidiaries and Shanghai Advertising, and each of Min Lu and Haiyun Lei, as the individual nominee shareholder of VIEs, entered into contractual agreements. In February 2021, Min Lu, in connection with his resignation and as the then individual nominee shareholder of Autohome Information and Shengtuo Hongyuan, enterd into equity interest transfer agreements and debt transfer and offset agreements with Quan Long and other related parties, pursuant to which Min Lu transferred all his equity interests in each Autohome Information and Shengtuo Hongyuan to Quan Long. In February 2021, Autohome WFOE entered into a termination agreement with Autohome Information and its then individual nominee shareholders, namely, Min Lu and Haiyun Lei, to terminate the contractual agreements in connection with Autohome Information made in March 2017, and Chezhiying WFOF entered into a termination agreement with Shengtuo Hongyuan and its then individual nominee shareholders, namely, Min Lu and Haiyun Lei, to terminate the contractual agreements in connection with Shengtuo Hongyuan mad in September 2016. Upon the execution of the above agreements, all contractual arrangements made by and among Min Lu, Haiyun Lei, Autohome Information, Shengtuo Hongyuan and the Company’s wholly-owned subsidiaries have been terminated. In February 2021, Autohome WFOF entered into a series of contractual agreements with Autohome Information and each of its individual nominee shareholders, namely, Quan Long and Haiyun Lei, and Chezhiying WFOE entered into a series of contractual agreements with Shengtuo Hongyuan and each of its individual nominee shareholders, namely, Quan Long and Haiyun Lei. In the end of December 2020, the Company acquired TTP, its subsidiaries and VIEs, which also conduct its business related to internet content services through VIEs. In August 2015, the then individual nominee shareholder of Shanghai Jinwu, entered into Equity Interest Purchase Agreements and Debt Transfer and Offset Agreements with Weiwei Wang, pursuant to which the then individual nominee shareholder transferred all of its equity interest of Shanghai Jinwu to Weiwei Wang. In August 2015, TTP WFOE, and Shanghai Jinwu and Weiwei Wang, as the individual nominee shareholder of VIE, entered into contractual agreements. Despite the lack of technical majority ownership, there exists a parent-subsidiary relationship between the Company and the VIEs through the irrevocable power of attorney agreement, whereby the Nominee Shareholders effectively assigned all of their voting rights underlying their equity interest in the VIEs to the WFOEs. In addition, through the Contractual Agreements the Company demonstrates its ability and intention to continue to exercise the ability to absorb substantially all of the expected losses and majority of the profits of the VIEs through the WFOEs. Thus, the Company is also considered the primary beneficiary of the VIEs through the WFOEs. As a result of the above, the Company consolidates the VIEs in accordance with SEC Regulation SX-3A-02 810-10 810-10”) The following is a summary of the Contractual Agreements: Exclusive technical consulting and service agreements Pursuant to the exclusive technical consulting and service agreements that have been entered into by the WFOEs and the VIEs, the VIEs have engaged the WFOEs as their exclusive provider of technical support and management consulting services. In addition, the WFOEs shall provide the necessary financial support to the VIEs whether or not the VIEs incur any losses, and not request for repayment if the VIEs are unable to do so. The VIEs shall pay to the WFOEs service fees calculated based on such VIE’s revenues reduced by its value-added taxes and surcharges, operating expenses and an appropriate amount of retained profit that is determined pursuant to the Group’s tax planning strategies and relevant tax laws. The service fees can be adjusted by the WFOEs unilaterally. The WFOEs shall exclusively own any intellectual property arising from the performance of these agreements. This agreement has 30-year Loan agreement Pursuant to the loan agreements between the Nominee Shareholders of the VIEs and the WFOEs, the WFOEs granted interest-free loans for the Nominee Shareholders’ contributions to the VIEs. The term of the loan is indefinite until the WFOEs requests repayment. The manner and timing of the repayment shall be at the sole discretion of the WFOEs and at the WFOEs’ option may be in the form of transferring the VIEs’ equity interest to the WFOEs or their designated persons. Exclusive equity option agreements Pursuant to the exclusive equity option agreements entered into among the Nominee Shareholders of the VIEs, VIEs and the WFOEs, the Nominee Shareholders jointly and severally granted to the WFOEs an option to purchase their equity interests in the VIEs. The purchase price will be offset against the loan repayments under the loan agreements. If the transfer price of the equity interest is greater than the loan amount, the Nominee Shareholders are required to immediately return the received transfer price in excess of the loan amount to the WFOEs or any person designated by the WFOEs. The WFOEs may exercise such option at any time until it has acquired all equity interests of the VIEs or freely transfer the option to any third party and such third party may assume the right and obligations of the option agreement. In addition, dividends and distributions are not permitted without the prior consent of the WFOEs, to the extent there is a dividend or distribution, the Nominee Shareholders will remit the amounts in full to the WFOEs immediately. In the event of liquidation or dissolution of the VIEs, all assets shall be sold to the WFOEs at the lowest selling price permitted by applicable PRC law, and any proceeds from the transfer and any residual interests in the VIEs shall be remitted to the WFOEs immediately. The exclusive equity option agreements have an indefinite term and will terminate at the earlier of i) the date on which all of the equity interests have been transferred to the WFOEs or any person designated by the WFOEs; or ii) the unilateral termination by the WFOEs. Equity interest pledge agreements Pursuant to the equity interest pledge agreements entered into between the Nominee Shareholders of the VIEs and the WFOEs, the Nominee Shareholders pledged all of their equity interests in the VIEs to the WFOEs as collateral for all of their payments due to the WFOEs and to secure their obligations under the above agreements. The Nominee Shareholders may not transfer or assign the shares, the rights and obligations in the share pledge agreement or create or permit to create any pledges which may have an adverse effect on the rights or benefits of the VIEs without the WFOE’s preapproval. The WFOE is entitled to transfer or assign in full or in part the shares pledged. In the event of default, the WFOE as the pledgee will be entitled to request immediate repayment of the loan or to dispose of the pledged equity interests through transfer or assignment. There have been no dividends or distributions from inception to date. The equity interest pledge agreements have an indefinite term and will terminate after all the obligations under these agreements have been satisfied in full or the pledged equity interests have been transferred to the WFOEs or their designees. Power of attorney agreements Pursuant to the power of attorney agreements, shareholders of the VIEs have given the WFOEs an irrevocable proxy to act on their behalf on all matters pertaining to the VIEs and to exercise all of their rights as shareholders of the VIEs, including the right to attend shareholders’ meetings, to exercise voting rights and to transfer all or a part of his equity interests in the VIEs. Risk in relation to the VIE Structure Internet content related businesses are subject to significant restrictions under current PRC laws and regulations. Specifically, foreign investors are not allowed to own more than 50% equity interest in any Internet Content Provider (“ICP”) business. The Group conducts its operations in China through Contractual Agreements entered into between the WFOEs and VIEs. In 2014, the Group began gradually migrating the advertising service business from the VIEs to the subsidiaries of Autohome Media, a transition that was completed to a substantial extent. If the Company or any of its current or future VIEs or subsidiaries are found in violation of any existing or future laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities would have broad discretion in dealing with such violations, including levying fines, confiscating the income of Autohome WFOE, Chezhiying WFOE, TTP WFOE and VIEs, revoking their business licenses or operating licenses, shutting down the Group’s servers or blocking the Group’s websites and mobile applications, discontinuing or placing restrictions or onerous conditions on the Group’s operations, requiring the Group to undergo a costly and disruptive restructuring, restricting the Group’s rights to use the proceeds from the offering to finance the Group’s business and operations in China, or enforcement actions that could be harmful to the Group’s business. Any of these actions could cause significant disruption to the Group’s business operations and severely damage the Group’s reputation, which would in turn materially and adversely affect the Group’s business and results of operations. In addition, if the imposition of any of these penalties causes the Company to lose the rights to direct the activities of VIEs or the Company’s right to receive their economic benefits, the Company would no longer be able to consolidate the VIEs. In addition, if Autohome Information and its subsidiaries, Shengtuo Hongyuan and its subsidiaries, Shanghai Jinwu and its subsidiaries or their shareholders fail to perform their obligations under the Contractual Agreements, the Company may have to incur substantial costs and expend resources to enforce the Company’s rights under the contracts. The Company may have to rely on legal remedies under PRC law, including seeking specific performance or injunctive relief and claiming damages, which may not be effective. All of these Contractual Agreements are governed by PRC law and provide for the resolution of disputes through arbitration in the PRC. Accordingly, these contracts would be interpreted in accordance with PRC law and any disputes would be resolved in accordance with PRC legal procedures. The legal system in PRC is not as developed as in other jurisdictions, such as United States. As a result, uncertainties in the PRC legal system could limit the Company’s ability to enforce these Contractual Agreements. Under PRC law, rulings by arbitrators are final, parties cannot appeal the arbitration results in courts, and prevailing parties may only enforce the arbitration awards in PRC courts through arbitration award recognition proceedings, which would incur additional expenses and delay. In the event the Company is unable to enforce these Contractual Agreements, the Company may not be able to exert effective control over its VIEs, and the Company’s ability to conduct its business may be negatively affected. Based on the advice of the Company’s PRC legal counsel, the corporate structure and Contractual Agreements of the Company’s VIEs and WFOEs in China are in compliance with all existing PRC laws and regulations. Therefore, in the opinion of management, (i) the ownership structure of the Company and the VIEs are in compliance with existing PRC laws and regulations; (ii) the Contractual Agreements with VIEs and their nominee shareholders are valid and binding, and will not result in any violation of PRC laws or regulations currently in effect; and (iii) the Group’s business operations are in compliance with existing PRC law and regulations in all material respects. VIEs contributed an aggregate of 9.3%, 8.3% and 8.1% of the consolidated net revenues for the years ended December 31, 2018, 2019 and 2020, respectively, after elimination of inter-company transactions. As of December 31, 2019 and 2020, the VIEs accounted for an aggregate of 9.6% and 8.8%, respectively, of the consolidated total assets, and 4.7% and 12.5%, respectively, of the consolidated total liabilities after elimination of inter-company balances. Relevant PRC laws and regulations restrict the VIEs from transferring a portion of its net assets to the Company in the form of loans and advances or cash dividends. Please refer to Note for disclosure of restricted net assets. The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs included in the Company’s consolidated balance sheets, consolidated statements of comprehensive income and consolidated statements of cash flows. As of December 31, 2019 2020 RMB RMB US$ Current assets 375,908 558,442 85,585 Non-current 1,607,933 1,653,968 253,482 Total assets 1,983,841 2,212,410 339,067 Accrued expenses and other payables 109,934 497,742 76,282 Advance from customers 63,969 87,604 13,426 Deferred revenue 18,947 17,644 2,704 Amounts due to related parties 453 — — Inter-company payables 86,275 103,393 15,846 Total current liabilities 279,578 706,383 108,258 Other liabilities 12,383 9,054 1,387 Deferred tax liabilities 7,121 2,677 410 Total non-current 19,504 11,731 1,797 Total liabilities 299,082 718,114 110,055 Net assets 1,684,759 1,494,296 229,012 Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Net revenues 673,188 702,040 700,608 107,373 Net income/(loss) 29,099 (848 ) 23,342 3,577 Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Net cash (used in)/generated from operating activities (224,531 ) (446,358 ) 23,147 3,547 Net cash generated from investing activities 131,087 478,513 193,190 29,608 Net cash generated from financing activities — — — — The revenue-producing assets that are held by the VIEs comprise of customer relationship The current assets of the VIEs included amounts due from PRC subsidiaries of RMB149,925 and RMB129,223 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of accounting The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). On February 2, 2021, the Company announced that the following proposed resolution submitted for shareholder approval has been adopted and approved as a special resolution at the Company’s extraordinary general meeting of shareholders: All authorized Class A ordinary shares and Class B ordinary shares are re-designated per-ADS ASC 820 expectations (j) Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated useful life Electronic equipment 3 – Office equipment 3 Motor vehicles 4 – Software 3 Leasehold improvements Shorter of lease term or the estimated useful lives of the assets Repair and maintenance costs are charged to expense as incurred, whereas the costs of betterments that extend the useful life of property and equipment are capitalized as additions to the related assets. Retirements, sale and disposals of assets are recorded by removing the cost and accumulated depreciation with any resulting gain or loss reflected in the consolidated statements of comprehensive income. (k) Intangible Assets Intangible assets are carried at cost less accumulated amortization and any recorded impairment. Intangible assets acquired in a business combination were recognized initially at fair value at the date of acquisition. Intangible assets acquired in asset acquisitions are measured based on the cost to the acquiring entity, which generally includes economic the are estimated Category Estimated useful life Trademarks 3-15 years Technologies 5 years Customer relationship 5 years Websites 4 years Domain names 4-10 years Database 5 years Licensing agreements 1.75 years Insurance brokerage license 4 years (l) Long-term Investments The Company’s long-term investments consist of equity method investments. Investments in entities in which the Company can exercise significant influence and holds an investment in voting common stock or in-substance Investments-Equity Method and Joint Ventures (m) Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business. The Group’s goodwill at December 31, 2019 and 2020 were related to its acquisition of Cheerbright, China Topside and Norstar in June 2008, and its acquisition of TTP in December 2020. In accordance with ASC 350, Goodwill and Other Intangible Assets Goodwill is tested for impairment at the reporting unit level on an annual basis (December 31 for the Company) and between annual tests if an event occurs or circumstances change that would more-likely-than-not Management has determined that the Group represents the lowest level within the entity at which goodwill is monitored for internal management purposes. Starting from January 1, 2020, the Group adopted ASU 2017-04, two-step more-likely-than-not 2018, If the Group reorganizes its reporting structure in a manner that changes the composition of one or more of its reporting units, goodwill is reassigned based on the relative fair value of each of the affected reporting units. (n) Other non-current Other non-current is A convertible bond that is not within the scope of ASC 320 “ Investments—debt and equity securities Receivables Derivatives and Hedging According to ASC 310-10-35, No. 2016-13, credit ratings of similar debt instruments, As of December 31, 2020, the Company has completed the acquisition of TTP, and Convertible Bond and Warrant have been eliminated in the consolidated financial statements. (o) Impairment of Long-Lived Assets and Intangibles The Group evaluates its long-lived assets or asset group, including intangible assets with finite lives, for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset or a group of long-lived assets may not be recoverable. When these events occur, the Group evaluates impairment by comparing the carrying amount of the assets to future undiscounted net cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the excess of the carrying amount of the asset group over its fair value. No impairment charge was recorded for any of the years presented. (p) Revenue Recognition and Accounts Receivable The Group accounts for revenue in accordance with the ASU No. 2014-09, “Revenue The Group determines revenue recognition through the following steps • identification of the contract, or contracts, with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Group satisfies a performance obligation Media services Media services revenues mainly include revenues from automaker advertising services and regional marketing campaigns conducted by certain automobile brands’ regional offices. The majority of online advertising service contracts involve multiple deliverables or performance obligations presented on PC and mobile platforms and under different formats such as banner advertisements, links and logos, other media insertions and promotional activities that are delivered over different periods of time. Revenue is allocated among these different deliverables based on their relative standalone selling prices. The Group generally determines the standalone selling price as the observable price of a product or service charged to customers when sold on a standalone basis. Advertising services are primarily delivered based on cost per day (“CPD”) pricing model. For CPD advertising arrangements, revenue is recognized when the corresponding advertisements are published over the stated display period. For cost per thousand impressions (“CPM”) model, revenue is recognized when the advertisements are displayed and based on the number of times that the advertisement has been displayed. For cost-per-click Leads generation services Leads generation services primarily include revenues from (i) dealer subscription services, (ii) advertising services sold to individual dealer advertisers, and (iii) used car listing services. Under the dealer subscription services, the Group makes available throughout the subscription period a webpage linked to its websites and mobile applications where the dealers can publish information such as the pricing of their products, locations and addresses and other related information. Usually, advanced payment is made for the dealer subscription services and revenue is recognized over time on a straight line basis as services are constantly provided over the subscription period. For the advertising services sold to individual dealers, revenue is recognized when the advertising is published over the stated display period. The used car listing services primarily include listing and display of used vehicles, generation of sales leads, etc, through the Group’s platform. The used car platform acts as a user interface that allows potential used car buyers to identify listings that meet their specific requirements and contact the seller. The service fee is charged per the number of displayed days, or quantity of sales leads delivered. Revenue is recognized respectively at a point in time upon the display of vehicles or the delivery of sales leads. Online marketplace and others Online marketplace and others revenue primarily consist of revenues related to data products, new car and used car marketplace, auto-financing business, and others. For the data products, the Group provides data analysis reports and data-driven products and solutions for the automakers and dealers and recognizes revenue at a point in time upon the delivery of reports or over the period of the consumption or utilization of data-driven products and solutions by the automakers and dealers. For the new car and used car marketplace, and auto-financing business, the Group provides platform-based services including facilitation of transactions, transaction-oriented marketing solutions, generation of sales leads and facilitation of transactions as an insurance brokerage service provider. For the new car marketplace, the Group also acts as the platform for users to review automotive-related information, purchase coupons offered by automakers for discounts and make purchases to complete the transaction. For the used car platform, the Group acts as a used car consumer-to-business-to-consumer, Contract Balances and Accounts Receivable Payment terms and conditions vary by contract and service types. However, generally speaking, excluding dealer subscription and used car listing, the rest of service contracts usually require payment within several months of service delivery. The term between billings and when payment is due is not significant and the Group generally does not provide significant financing terms. Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenue recognized prior to invoicing, when the Group has satisfied its performance obligations and has the unconditional right to payment. Non-refundable Accounts receivable are carried at net realizable value. Prior to the adoption of ASC 326, an allowance for doubtful accounts is recorded in the period when a loss is probable based on an assessment of specific evidence indicating troubled collection, historical experience, accounts aging and other factors. On January 1, 2020, the Group adopted Accounting Standards Update No. 2016-13, Practical Expedients and Exemptions The Group Group remaining performance obligations The revenue standard requires the Group to recognize an asset for the incremental costs of obtaining a contract with a customer if the benefit of those costs is expected to be longer than one year. The Group has determined that sales commission for sales personnel meet the requirements of capitalization. However, the Group applies a practical expedient to expense these costs as incurred for costs to obtain a contract (q) Cost of Revenues Cost of revenues primarily consist of bandwidth and internet data center fees, depreciation of the Group’s long-lived assets, amortization of acquired intangible assets, tax surcharges, content-related costs and cost of sales. Content-related costs primarily comprise of salaries and benefits for employees directly involved in revenue generation activities, cost related to content generation and acquisition and execution cost and other overhead expenses directly attributable to the provision of the media services, leads generation services and online marketplace and others. (r) Advertising Expenditures Advertising expenditures which amounted to RMB1,047,160, RMB1,649,660 and RMB1,795,330 (US$275,146) for the years ended December 31, 2018, 2019 and 2020, respectively, are expensed as incurred and are included in sales and marketing expenses. (s) Product Development Expenses Product development expenses consist primarily of employee costs related to personnel involved in the development and enhancement of the Group’s service offerings on its websites and mobile applications, and expenditure for research and development activities. The Group recognizes these costs as expenses when incurred, unless they qualify for capitalization as software development costs. (t) Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases 2016-02”). The Group has elected to utilize the package of practical expedients at the time of adoption, which allows the Group to (1) not reassess whether any expired or existing contracts are or contain leases, (2) not reassess the lease classification of any expired or existing leases, and (3) not reassess initial direct costs for any existing leases. The Company also has elected to utilize the short-term lease recognition exemption and, for those leases that qualified, the Group did not recognize operating lease right-of-use Upon the adoption of the new guidance on January 1, 2019, the Group recognized operating lease ROU assets of RMB184,849 and operating lease liabilities of RMB176,376 (including current portion of RMB121,780 and non-current The amount of the operating lease right-of-use assets of RMB184,849 over the operating lease liabilities of RMB176,376 recognized on January 1, 2019 was credited to prepaid expenses and other current assets on the consolidated balance sheet as of January 1, 2019. The Group determines if an arrangement is a lease and determines the classification of the lease, as either operating or finance, at commencement. The Group has operating leases for office buildings and data centers and has no finance leases as of December 31, 2019 and 2020. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the lease payments over the lease term at commencement date. As the Group’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the information available at commencement date, to determine the present value of lease payments. The incremental borrowing rates approximate the rate the Group would pay to borrow in the currency of the lease payments for the weighted-average life of the lease. The operating lease ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives and initial direct costs incurred if any. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Group’s lease agreements contain both lease and non-lease As of December 31, 2019 and 2020, the Group recognized the following items related to operating lease in its consolidated balance sheets. As of December 31, 2019 2020 RMB RMB US$ Classification in Consolidated Balance Sheets Operating lease ROU assets Other non-current 81,055 209,339 32,083 Operating lease liabilities, current portion Accrued expenses and other payables 52,781 112,094 17,178 Operating lease liabilities, non-current Other liabilities 23,067 90,614 13,887 Lease cost recognized in the Group’s consolidated statements of comprehensive income is summarized Year ended December 31, 2019 2020 RMB RMB US$ Classification in Consolidated Statements of Comprehensive Income Operating lease cost Cost of revenues and operating expenses 128,507 117,479 18,004 Cost of other leases with terms less than one year Cost of revenues and operating expenses 38,229 66,253 10,154 Maturities of operating lease liabilities as of December 31, 2019 and 2020 are as follows As of December 31, 2019 2020 RMB RMB US$ 2020 54,091 — — 2021 19,963 120,527 18,472 2022 4,719 87,260 13,373 2023 — 17,596 2,697 2024 — 1,005 154 2025 — 200 31 Total lease payments 78,773 226,588 34,727 Less imputed interest (2,925 ) (23,880 ) (3,662 ) Total 75,848 202,708 31,065 As of December 31, 2020, the Gr o As of December 31, 2020, the Group does not have any significant operating or finance leases that have not yet commenced. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Group leased office space and data centers from its related party, Ping An Group for a total amount of RMB72,185 and RMB119,855 (US$18,369) for the year s , respectively. (u) Income Taxes The Group accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Group records a valuation allowance against deferred tax assets if, based on the weight of available evidence, it is more-likely-than-not The Group applies ASC 740, Accounting for Income Taxes The Group’s estimated liability for unrecognized tax benefits and the related interest and penalties are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The actual benefits ultimately realized may differ from the Group’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Company’s consolidated financial statements. Additionally, in future periods, changes in facts and circumstances, and new information may require the Group to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which they occur. (v) Earnings Per Share Earnings per share are calculated in accordance with ASC 260-10, two-class Diluted earnings per ordinary share reflects the potential dilution that could occur if securities to issue ordinary shares were exercised. The dilutive effect of outstanding share-based awards is reflected in the diluted earnings per share by application of the treasury stock method. (w) Comprehensive Income Comprehensive income is defined to include all changes in shareholders’ equity except those resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220-10, Comprehensive Income: Overall statements (x) Noncontrolling interests Noncontrolling interests are recognized to reflect the portion of the equity of majority-owned subsidiary which is not attributable, directly or indirectly, to the controlling shareholder. Noncontrolling interests are classified as a separate line item in the equity section of the Group’s consolidated balance sheets and have been separately disclosed in the Group’s consolidated statements of comprehensive income to distinguish the interests from that of the Company. (y) Segment Reporting In accordance with ASC 280-10, Segment Reporting substantially (z) Employee Benefits The full-time employees of the Company’s PRC subsidiaries and VIEs are entitled to staff welfare benefits including medical care, housing fund, pension benefits and unemployment insurance, which are governmental mandated defined contribution plans. These entities are required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. The total expenses for the employee benefits plans were RMB319,491, RMB344,829 and RMB241,951 (US$37,081) for the years ended December 31, 2018, 2019 and 2020, respectively. (aa) Share-based Compensation Share-based awards granted to employees are accounted for under ASC 718, Compensation—Stock Compensation Under ASC 718, an entity can make an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company has elected to estimate the forfeiture rate at the time of grant and revise, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. The Company recognizes compensation cost for awards with performance conditions if and when the Company concludes that it is probable that the performance condition will be achieved. The Company reassesses the probability of vesting at each reporting period for awards with performance conditions and adjusts compensation cost based on its probability assessment. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates and are adjusted to reflect future changes in circumstances and facts, if any. Share-based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share-based awards that are expected to vest. To the extent the Company revises these estimates in the future, the share-based payments could be materially impacted in the period of revision, as well as in following periods. The Company, with the assistance of an independent third-party valuation firm, determined the fair value of the stock options granted to employees. The binomial option pricing model was applied in determining the estimated fair value of the options granted to employees. Subsequent to the IPO, fair value of the ordinary shares is the price of the Company’s publicly traded shares. The Company accounts for a change in any of the terms or conditions of share-based awards as a modification in accordance with ASC subtopic 718-20, Compensation-Stock Compensation: Awards Classified as Equity (bb) Other income, net Commencing in 2018 with the adoption of the new revenue accounting standard, VAT refunds are presented as a component of other income, net. For Beijing Prbrownies Software Co., Ltd., Chengdu Prbrownies Software Co., Ltd. and Tianjin Autohome Data Information Technology Co., Ltd., they are subject to 13% VAT (or 16% VAT before April 1, 2019 and 17% before May 1, 2018) for the dealer subscription services and other services, which were sold in the form of software products. Since November 2014, December 2016 and January 2020, respectively, Beijing Prbrownies Software Co., Ltd., Chengdu Prbrownies Software Co., Ltd. and Tianjin Autohome Data Information Technology Co., Ltd. are entitled to an immediate 10% VAT (or 13% before April 1, 2019 and 14% before May 1, 2018) refund, which is a refund in excess of 3% VAT on the total VAT payable, after their registration of software products with relevant authorities and obtaining a refund approval from the local tax bureau. For the years ended December 31, 2018, 2019 and 2020, RMB289,326, RMB293,008 and RMB218,412 (US$33,473) of VAT refunds were recorded as other income, net. Other income, net also includes government grants, which primarily represent subsidies and tax refunds for operating a business in certain jurisdictions and fulfilment of specified tax payment obligations. These grants are not subject to any specific requirements and are recorded when received. For the years ended December 31, 2018, 2019 and 2020, RMB45,190, RMB147,694 and RMB210,022 (US$32,187) of government grants were recorded as other income, net. (cc) Commitment and contingencies From time to time, the Group is subject to legal proceedings and claims in the ordinary course of business. Liabilities for such contingencies are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. (dd) Business Combinations The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805, Business Combinations In a business combination achieved in stages, the Group re-measures re-measurement For the Company’s majority-owned subsidiaries and consolidated VIEs, a noncontrolling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Company. When the noncontrolling interest is contingently redeemable upon the occurrence of a conditional event, which is not solely within the control of the Company, the noncontrolling interests are classified as mezzanine equity. Consolidated net income on the consolidated statements of comprehensive income includes the net income/loss attributable to noncontrolling interests and mezzanine equity holders when applicable. (ee) Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (ff) Concentration of Risk Credit risk Financial instruments that potentially subject the Group to significant concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments and accounts receivable. As of December 31, 2019 and 2020, cash and cash equivalents, restricted cash and short-term investments altogether amounting to RMB12,800,310 and RMB14,647,324 (US$2,244,801), respectively, were deposited with various major reputable financial institutions located in the PRC and international financial institutions outside of the PRC. Management believes that these financial institutions are of high credit quality and continually monitors the creditworthiness of these financial institutions. Historically, deposits in Chinese banks are secure due to the state policy on protecting depositors’ interests. However, China promulgated a new Bankruptcy Law in August 2006 that came into effect on June 1, 2007, which contains a separate article expressly stating that the State Council may promulgate implementation measures for the bankruptcy of Chinese banks based on the Bankruptcy Law. Under the new Bankruptcy Law, a Chinese bank may go into bankruptcy. In the event of bankruptcy of one of the banks which holds the Group’s deposits, it is unlikely to claim its deposits back in full since it is unlikely to be classified as a secured creditor based on PRC laws. The Group continues to monitor the financial strength of these financial institutions. Accounts receivable are typically unsecured and derived Business, customer, political, social and economic risks The Group participates in a dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Group’s future financial position, results of operations or cash flows; changes in the overall demand for services and products; changes in business offerings; epidemic outbreak that may cause disruption to business operation of the Group, its customers and suppliers; competitive pressures due to new entrants; acceptance of the Internet as an effective marketing platform by China’s automotive industry; changes in certain strategic relationships or customer relationships; growth in China’s automotive industry, regulatory considerations; and risks associated with the Group’s ability to attract and retain employees necessary to support its growth. There were no customer, customer and no customer that individually represented greater than % of the total net revenues for the years ended December , , and , respectively. Currency convertibility risk The Group transacts majority of its business in RMB, which is not freely convertible into foreign currencies. According to the relevant regulations in the PRC, all foreign exchange transactions are required to take place either through the People’s Bank of China (“PBOC”) or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. Most of the cash and cash equivalents and short-term investments held by PRC subsidiaries and the VIEs are denominated in RMB, while a portion of cash and cash equivalents and short-term investments held by PRC subsidiaries and the VIEs are denominated in US$. Cash distributed outside of the PRC by PRC subsidiaries and the VIEs are subject to PRC dividend withholding tax. Foreign Currency exchange rate risk Since July 21, 2005, the RMB was permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. There was depreciation of 5.4%, depreciation of 1.2%, and appreciation of 6.7% for the years ended December 31, 2018, 2019 and 2020, respectively. Any significant appreciation or depreciation of the RMB may materially and adversely affect the Group’s earnings and financial position, and the value of, and any dividends payable on, the Company’s ADSs in U.S. dollars. For example, to the extent that the Group need to convert U.S. dollars it received from its initial public offering into RMB to pay its operating expenses, appreciation of the RMB against the U.S. dollar would have an adverse effect on the RMB amount it would receive from the conversion. Conversely, a significant depreciation of the RMB against the U.S. dollar may significantly reduce the U.S. dollar equivalent of the Group’s earnings, which in turn could adversely affect the price of ADSs. |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 3. FAIR VALUE MEASUREMENT Assets measured at fair value on a recurring basis Fair Value Measurement at Quoted Prices Significant Other Unobservable Fair Value at December 31, 2020 RMB RMB RMB RMB US$ Cash equivalents Time deposits — 268,634 — 268,634 41,170 Short-term investments Term deposits — 7,286,100 — 7,286,100 1,116,644 Adjustable-rate financial products — 5,592,076 — 5,592,076 857,023 Restricted cash — 17,926 — 17,926 2,747 — 13,164,736 — 13,164,736 2,017,584 Fair Value Measurement at Quoted Prices Significant Other Unobservable Fair Value at December RMB RMB RMB RMB Cash equivalents Time deposits — 738,112 — 738,112 Short-term investments Term deposits — 2,577,905 — 2,577,905 Adjustable-rate financial products — 8,228,907 — 8,228,907 Restricted cash — 5,200 — 5,200 Other non-current Warrant — — 31,393 31,393 — 11,550,124 31,393 11,581,517 Other financial instruments The followings are other financial instruments not measured at fair value in the consolidated balance sheets, but for which the fair value is estimated for disclosure purposes. Financial assets including accounts receivable, amounts due from related parties , prepaid expenses and other current assets excluding prepayments and staff advances, and other non-current right-of-use assets and warrant are not measured at fair value in the consolidated balance sheets, and the carrying values approximated fair value due to their short-term maturity. Financial liabilities including accrued expense and other payables, and amounts due to related parties are also not measured at fair value in the consolidated balance sheets, and the carrying values approximated fair value due to their short-term maturity. Assets and liabilities measured at fair value on a non-recurring The Group measures certain assets, including long-term investments, goodwill and intangible assets, at fair value on a non-recurring |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Accounts Receivable, Net | 4. ACCOUNTS RECEIVABLE, NET Accounts receivable and allowance for doubtful accounts consist of the following: As of December 31, 2019 2020 RMB RMB US$ Accounts receivable 3,265,475 3,252,396 498,451 Allowance for doubtful accounts (33,989 ) (128,199 ) (19,647 ) Total 3,231,486 3,124,197 478,804 As of December 31, 2019 and 2020, all accounts receivable were due from third party customers. An analysis of the allowance for doubtful accounts is as follows: Year ended December 31, 2019 2020 RMB RMB US$ Beginning balance 3,589 33,989 5,209 Additions charged to bad debt expense 37,141 104,434 16,005 Reversal (465 ) (8,751 ) (1,341 ) Write off (6,276 ) (1,473 ) (226 ) Ending balance 33,989 128,199 19,647 The Group recognized additions to allowance for doubtful accounts amounting to RMB2,215, RMB36,676 and RMB95,683 (US$14,664) within general and administrative expenses, for the years ended December 31, 2018, 2019 and 2020, respectively , part of the additions to allowance for doubtful accounts for the year ended December 31, 2020 are in response to the deteriorating financial position of certain |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses and Other Current Assets | 5. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: As of December 31, 2019 2020 RMB RMB US$ Prepayments (a) 216,809 299,154 45,847 Rental and other deposits 19,329 10,867 1,665 Interest receivable 18,269 114,726 17,583 Staff advances 4,040 2,070 317 Receivables from third-party payment platform 10,348 86,777 13,299 Other receivables 33,490 49,588 7,600 302,285 563,182 86,311 (a) Prepayments primarily include prepaid VAT and surcharges, prepaid promotional expenses and service fee. |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Taxation | 6. TAXATION Enterprise income tax Cayman Islands The Company and its subsidiaries are incorporated in the Cayman Islands and conduct substantially all of its business through its PRC subsidiaries and VIEs. Under the current laws of the Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. In addition, upon payments of dividends by these entities to their shareholders, no Cayman Islands withholding tax will be imposed. British Virgin Islands Cheerbright is incorporated in the British Virgin Islands and conducts substantially all of its businesses through its PRC subsidiary and VIEs. Under the current laws of the British Virgin Islands, Cheerbright is not subject to tax on income or capital gains. In addition, upon payments of dividends by these entities to their shareholders, no British Virgin Islands withholding tax will be imposed. Hong Kong Autohome (Hong Kong) Limited, Autohome Media, Autohome E-commerce two-tiered the C the Company’s subsidiaries in Hong Kong are exempted from income tax on their foreign-derived income and there are withholding taxes in Hong Kong on remittance of dividends. The PRC Autohome WFOE, Chezhiying WFOE, Beijing Autohome Technologies Co., Ltd., or Beijing Autohome Technologies, Beijing Prbrownies Software Co., Ltd. “High-New Chengdu Prbrownies Software Co., Ltd., or Chengdu Prbrownies, is recognized as a software enterprise (“SE”) and could be exempt from income tax for the tax year of 2017 and 2018, followed by a 50% reduction in the statutory income tax rate of 25% for the years of 2019, 2020 and 2021 provided that it maintains its status as a SE during each relevant tax year. In the meanwhile, Chengdu Prbrownies further enjoy a more preferential enterprise tax rate of 10% as it is accredited as KSE for the year of 2020. Chezhiying WFOE, Hainan Chezhiyitong Information Technology Co., Ltd. and Tianjin Autohome Data Information Technology Co., Ltd. are recognized as SE and could be exempt from income tax for the tax year of 2019 and 2020, followed by a 50% reduction in the statutory income tax rate of 25% for the years of 2021, 2022 and 2023 provided that it maintains its status as a SE during each relevant tax year. Pursuant to the Circular on Income Tax Policies for Further Encouraging the Development of Software Industry and Integrated Circuit Industry jointly issued by the State Administration of Taxation and the MOF on April 20, 2012, and the Circular on Issues concerning Preferential Enterprise Income Tax Policies for Software and Integrated Circuit Industries jointly issued by the Ministry Of Finance, the State Administration of Taxation, the National Development and Reform Commission and the Ministry of Industry and Information Technology on May 4, 2016, eligible software enterprises which pass annual review and filing by the relevant tax authorities can enjoy exemption of enterprise income tax for the first and second year as calculated from the profit making year or no later than December 31, 2017 if no profit is made prior to that date, and thereafter enjoy half of the statutory rate of 25% for the third through fifth year thereafter until the expiration of the preferential period. As each of Beijing Prbrownies Software Co., Ltd. , Autohome WFOE and Beijing Autohome Technologies, has further registered as a key software enterprise in 2018 and 2019, it enjoyed a reduced enterprise income tax of 10% for tax year of 2017 and 2018. Going forward, if any of Autohome WFOE, Beijing Autohome Technologies and Beijing Prbrownies Software Co., Ltd fails to complete the filing and registration with the relevant tax authorities, it will longer enjoy the preferential tax rate, and the applicable enterprise income tax rate may increase to up to % as an HNTE if it still maintains the HNTE qualification, or up to % if it loses the HNTE qualification. If Chengdu Prbrownies fails to maintain its software enterprise qualification, it will automatically forfeit the respective preferential tax treatment described above. Except for the above-mentioned entities, the Company’s remaining PRC The management subsequently assessed and concluded that uncertain preferential tax rates for certain subsidiaries were able to be realized in the fourth quarter of 2020 and a reversal of RMB (US$ was recorded in the fourth quarter of 2020 (US$ and deferred income tax benefit of RMB (US$ . A reversal of RMB and RMB was also recorded in the fourth quarter of 2018 and 2019, each composed of current income tax expense of RMB and deferred income tax benefit of RMB , current income tax expense of RMB and deferred income tax benefit of RMB . The basic earnings per share effects related to the preferential tax rate were RMB0.80, RMB0.68 and RMB0.97 (US$0.15) after taking into account the effects of the Share Subdivision as detailed in Note 2(a) for the years ended December 31, 2018, 2019 and 2020, respectively. The New EIT Law also provides that enterprises established under the laws of foreign countries or regions and whose “place of effective management” is located within the PRC are considered PRC tax resident enterprises and subject to PRC income tax at the rate of 25% on worldwide income. The definition of “place of effective management” refers to an establishment that exercises, in substance, overall management and control over the production and business, personnel, accounting, properties, and other aspects of an enterprise. If the Company is deemed as a PRC tax resident, it would be subject to PRC tax under the New EIT Law. The Company has analyzed the applicability of this law and believes that the chance of being recognized as a tax resident enterprise is remote for PRC tax purposes. The Company’s subsidiaries incorporated in other jurisdictions were subject to income tax charges calculated according to the tax laws enacted or substantially enacted in the countries where they operate and generate income. The Group had minimal operations in jurisdictions other than the PRC. Income/(loss) before income tax expense consists of: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ PRC 3,197,471 3,647,316 3,770,148 577,800 Non - 43,950 53,690 (101,636 ) (15,578 ) 3,241,421 3,701,006 3,668,512 562,222 The income tax expense is comprised of: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Current 275,779 355,398 283,372 43,429 Deferred 102,111 144,963 (22,427 ) (3,437 ) 377,890 500,361 260,945 39,992 The reconciliation of income tax expense for the years ended December 31, 2018, 2019 and 2020 is as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Income before income tax expense 3,241,421 3,701,006 3,668,512 562,222 Income tax expense computed at PRC statutory tax rates (25%) 810,355 925,253 917,128 140,556 Non-deductible 49,117 27,333 22,063 3,381 Research and development expenses super-deduction (89,796 ) (194,000 ) (225,715 ) (34,592 ) Change in valuation allowances (15,285 ) 16,420 (5,285 ) (810 ) Outside basis difference 8,481 (7,727 ) 142 22 Effect of international tax rate difference (10,988 ) (14,440 ) 8,682 1,331 Effect of preferential tax rate (373,994 ) (323,534 ) (463,819 ) (71,083 ) Effect of withholding tax on dividend — 71,056 76,610 11,741 Other adjustments (Note) — — (68,861 ) (10,554 ) Income tax expense 377,890 500,361 260,945 39,992 Note: This amount represents tax savings relating to share-based compensation exercised in 2019, which can be deducted when the Company did tax filing according to income tax guidance adopted in 2020. Deferred tax The significant components of deferred taxes are as follows: As of December 31, 2019 2020 RMB RMB US$ Deferred tax assets Allowance for doubtful accounts 7,592 22,343 3,424 Accrued staff cost and expenses 12,669 42,091 6,451 Deferred revenue 11,051 11,214 1,719 Tax losses (Note) 52,411 404,178 61,943 VAT refund 351 2,032 311 Less: Valuation allowances (56,292 ) (402,197 ) (61,639 ) Total deferred tax assets 27,782 79,661 12,209 Deferred tax liabilities Identifiable intangible assets arising from acquisition — 63,570 9,743 Intangible assets and internally-developed software 15,691 39,306 6,024 Outside basis difference and others 451,740 452,023 69,275 Withholding income tax 71,056 76,610 11,741 Total deferred tax liabilities 538,487 631,509 96,783 Note: Upon the acquisition of TTP on December 31, 2020, the Group recorded deferred tax assets due to tax losses and related valuation allowance by approximately RMB 355,730 54,518 355,730 54,518 In assessing the realizability of deferred tax assets, the Group has considered whether it is more-likely-than-not more-likely-than-not As of December 31, 2020, the Group had net operating losses of approximately RMB1,618,888 (US$248,105), which can be carried forward to offset taxable income. The net operating loss will start to expire in 2021 if not utilized. Deferred tax liabilities arising from undistributed earnings The Enterprise Income Tax Law also imposes a withholding income tax of 10% on dividends distributed by a Foreign Invested Enterprises (“FIEs”) to its immediate holding company outside of China. A lower withholding income tax rate of 5% is applied if the FIE’s immediate holding company is registered in Hong Kong or other jurisdictions that have a tax treaty arrangement with China. As of December 31, 2020, the Group has no such qualified subsidiary, dividends are subject to a withholding tax rate of 10%. On November 4, 2019, the Company’s board of directors approved an annual cash dividend policy. Under the policy, starting from 2020, the Company will declare and distribute a recurring cash dividend at an amount equivalent to approximately % of the Company’s net income in the previous fiscal year. In 2019 and 2020, the Company accrued RMB and RMB of deferred income tax expenses associated with the expected cash dividend payment, respectively. As of December 31, 2019 and 2020, the total amount of undistributed earnings from the Company’s PRC subsidiaries and VIEs that are considered to be permanently reinvested was RMB11,061,788 and RMB13,674,190 (US$1,964,174), respectively. As of December 31, 2019 and 2020, determination of the amount of unrecognized deferred tax liability related to the earnings that are indefinitely reinvested is not practical. Unrecognized tax benefits As of December 31, 2019 and 2020, the Company recorded an unrecognized tax benefit of RMB22,467 and RMB17,805 (US$2,729), respectively, of which nil and nil, respectively, are presented on a net basis against the deferred tax assets related to tax loss carry forwards on the consolidated balance sheets. This represents the difference between the amount of benefit recognized in the statement of financial position and the amount taken or expected to be taken in a tax return. It is possible that the amount of uncertain tax position will change in the next twelve months, however, an estimate of the range of the possible outcomes cannot be made at this time. As of December 31, 2019 and 2020, unrecognized tax benefits of RMB8,436 and RMB3,198 (US$490), respectively, if ultimately recognized, will impact the effective tax rate. A roll-forward of unrecognized tax benefits is as follows: Year ended December 31, 2019 2020 RMB RMB US$ Beginning balance 11,659 8,436 1,293 Additions based on tax positions related to current year — — — Decreases based on tax positions related to prior years (3,223 ) (5,238 ) (803 ) Ending balance 8,436 3,198 490 During the years ended December 31, 2018, 2019 and 2020, the Company recorded late payment interest expense of The tax years ended December 31, 2016 through 2020 for the Company’s PRC subsidiaries and VIEs remain subject to examination by the PRC tax authorities. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | 7. PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following: As of December 31, 2019 2020 RMB RMB US$ At cost: Electronic equipment 525,545 647,271 99,199 Office equipment 2,057 5,841 895 Motor vehicles 4,583 7,071 1,084 Software 134,393 305,552 46,828 Leasehold improvements 46,053 96,211 14,745 712,631 1,061,946 162,751 Less: Accumulated depreciation (430,858 ) (651,865 ) (99,903 ) 281,773 410,081 62,848 Depreciation expense was RMB90,270, RMB106,941 and RMB158,229 (US$24,250) for the years ended December 31, 2018, 2019 and 2020, respectively. |
Intangible Assets, Net
Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net | 8. INTANGIBLE ASSETS, NET The following tables present the Group’s intangible assets with definite lives as of the respective balance sheet dates: December 31, 2020 Gross Carrying Accumulated Net Carrying RMB RMB RMB US$ Technologies 202,100 — 202,100 30,973 Trademarks 175,309 (56,993 ) 118,316 18,133 Customer relationship 46,900 (5,600 ) 41,300 6,330 Websites 27,000 (27,000 ) — — Domain names 2,237 (2,012 ) 225 34 Database 73,500 — 73,500 11,264 Licensing agreements 2,870 (2,579 ) 291 44 Insurance brokerage license 28,133 (23,444 ) 4,689 719 558,049 (117,628 ) 440,421 67,497 December 31, 2019 Gross Carrying Accumulated Net RMB RMB RMB Trademarks 68,380 (52,439 ) 15,941 Customer relationship 9,050 (9,050 ) — Websites 27,000 (27,000 ) — Domain names 2,023 (1,940 ) 83 Licensing agreements 2,670 (2,670 ) — Insurance brokerage license 28,133 (16,411 ) 11,722 137,256 (109,510 ) 27,746 The Group obtained insurance brokerage license in 2017 through acquisition of Shanghai Tianhe Insurance Brokerage Co., Ltd., which was accounted for as asset acquisition. The Company acquired TTP on December 31, 2020 and identified the intangible assets of technologies, trademarks, customer relationship and database (Note 19). The annual estimated amortization expenses for the acquired intangible assets for each of the next five years are as follows 2021 2022 2023 2024 2025 RMB RMB RMB RMB RMB Amortization expenses 83,475 78,779 76,404 74,095 74,095 |
Long-Term Investments
Long-Term Investments | 12 Months Ended |
Dec. 31, 2020 | |
Schedule of Investments [Abstract] | |
Long-Term Investments | 9. LONG-TERM INVESTMENTS As of December 31, 2019 and 2020, the Company holds several equity investments through its subsidiaries or VIEs, all of which were accounted for under the equity method since the Company can exercise significant influence but does not own a majority equity interest in or control them. Hunan Mango Autohome Automobile Sales Co., Ltd. (“Mango JV”) In May 2015, the Group entered into a shareholder agreement with HappiGo Home Shopping Co. (“HappiGo”) to establish a strategic joint venture, Mango JV, with total capital contribution of RMB100,000, of which the Company subscribed for RMB49,000 or 49% of the ordinary shares. Shanghai Youcheyoujia Financing Co., Ltd. (“Financing JV”) In September 2015, the Group signed a memorandum of understanding to establish a joint venture with three parties. In 2015, the Group made a full payment of RMB75,000, for a 25% equity interest of the Financing JV. In September 2017, the Group entered into a definitive agreement to transfer all its equity interests in Financing JV to an unaffiliated party. As of December 31, 2018, the equity transfer was completed. The difference between the selling price and carrying amount upon the completion of sales was recognized as disposal gain and recorded under “earnings from equity method investments”. Visionstar Information Technology (Shanghai) Co., Ltd. (“Shanghai Visionstar”) In July 2017, the Group acquired a 10% interest in Shanghai Visionstar, which primarily engages in augmented reality technology and related operations in the PRC, with a total cash consideration of RMB30,000. The investment was accounted for using equity method as the Group determined that it can exercise significant influence over Shanghai Visionstar. Other investments The Company The carrying amount of all of the equity method investments was RMB71,664 and RMB70,418 (US$10,792) as of December 31, 2019 and 2020, respectively. The Company excluded the summarized information for these equity method investees as they were insignificant either individually or on an aggregated basis for all the years presented. No impairment charges associated with the equity method investments were recognized during any of the years presented. |
Other Non-current Assets
Other Non-current Assets | 12 Months Ended |
Dec. 31, 2020 | |
Text Block Abstract | |
Other Non-current Assets | 10. OTHER NON-CURRENT Other non-current As of December 31, 2019 2020 RMB RMB US$ Convertible bond (a) 757,864 — — Warrant (a) 31,393 — — Operating lease right-of-use 81,055 209,339 32,083 Others 4,219 49,365 7,564 874,531 258,704 39,647 (a) In June 2018, the Company entered into a definitive agreement with TTP, pursuant to which the Company made an investment in TTP in the form of convertible bond, with an annual 8% compound interest rate, in an aggregate principal amount of US$100,000 in cash. The transaction was successfully consummated in June 2018. The Company was granted warrant, not the obligation to purchase an additional 8.0% convertible bond in an aggregate principal amount of US$65 million to be issued by TTP upon the Company’s request from time to time within three years after the consummation of transaction in June 2018. The conversion feature does not meet the definition of derivative and the put option (redemption right) was considered as embedded derivatives that does not meet the criteria to be bifurcated and accounted for together with the convertible bond itself. The warrant for the subscription of additional convertible bond was considered as a freestanding financial instrument and was accounted for at fair value with the change in fair value recognized in earnings. As of December 31, 2020, the convertible bond and warrant, are reclassified as prepaid expenses and other current assets in the Company’s condensed balance sheets as the convertible bond and warrant are due on June 10, 2021. The convertible bond and warrant are eliminated in the consolidated financial statements due to the acquisition of TTP by the Company. Fair value change of the warrant was RMB11,017, RMB5,442 and RMB15,658 (US$2,400) for the years ended December 31, 2018, 2019 and 2020, respectively . To estimate the fair value of the warrant, Black-Scholes Option Pricing Model was used in the valuation, with the following assumptions: As of December 31, 2019 2020 Risk-free interest rate 1.6% 0.14% Exercise price US$65,000 US$65,000 Dividend yield 0.00% 0.00% Expected time to exercise (years) 1.4 0.44 Asset volatility 28.0% 32.0% |
Accrued Expenses and Other Paya
Accrued Expenses and Other Payables | 12 Months Ended |
Dec. 31, 2020 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Payables | 11. ACCRUED EXPENSES AND OTHER PAYABLES The components of accrued expenses and other payables are as follows: As of December 31, 2019 2020 RMB RMB US$ VAT and surcharges payable 107,770 85,372 13,084 Payroll and welfare payable 495,711 552,985 84,749 Accrued rebates 683,915 797,218 122,179 Deposit from customers 43,283 22,387 3,431 Accrued expenses 915,978 737,797 113,072 Payable for purchase of fixed assets 23,847 39,852 6,108 Professional service fees 1,969 7,074 1,084 Payable for exercise of share-based awards 15,977 38,217 5,857 Operating lease liabilities - current portion 52,781 112,094 17,178 Others 76,207 184,713 28,309 2,417,438 2,577,709 395,051 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 12. RELATED PARTY TRANSACTIONS Name of related parties Relationship with the Group Ping An and its subsidiaries (“Ping An Group”) The Company’s controlling shareholder and its subsidiaries Mango JV An equity-method investee of the Company’s subsidiary Shanghai Visionstar An equity-method investee of the Company’s subsidiary Yun Chen became the Company’s controlling shareholder in June 2016 and Yun Chen is a subsidiary of Ping An. Therefore Ping An Group became the Company’s related party since then. During the years ended December 31, 2018, 2019 and 2020, related party transactions were as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Services provided to Ping An Group (a) 473,466 447,010 621,845 95,302 Services provided to other related parties 124 340 — — Net revenues from related parties 473,590 447,350 621,845 95,302 Services provided by and assets purchased from Ping An Group (b) 88,658 107,706 156,420 23,972 Services provided by and assets purchased from other related parties 10,415 15,717 5,625 862 Services provided by related parties 99,073 123,423 162,045 24,834 Interest income from Ping An Group 50,968 47,459 63,558 9,741 As of December 31, 2019 and December 31, 2020, balances with related parties were as follows: As of December 31, 2019 2020 RMB RMB US$ Amounts due from related parties, current Ping An Group (c) 29,489 47,303 7,250 Mango JV 12 — — 29,501 47,303 7,250 Amounts due from related parties, non-current Ping An Group (c) 4,509 18,163 2,784 Amounts due to related parties Ping An Group (d) 26,155 76,048 11,655 Mango JV 507 14 2 Shanghai Visionstar 9,725 3,833 587 36,387 79,895 12,244 (a) The amount represents the commission fee for transaction facilitation service on financial product including loan and insurance products, advertising services and technical services provided to Ping An Group. (b) The amount represents rental and property management services, technical services, other miscellaneous services and assets provided by Ping An Group. (c) Receivable from Ping An Group primarily consists of deposit in relation to the operating lease and other agreements, service fee receivable, and interest receivable from cash and cash equivalents and short-term investments held at Ping An Group. As of December 31, and restricted cash (d) The outstanding payable to Ping An Group primarily consists of payable for provision of services related to business operation, IDC service fee and other miscellaneous services. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 13. COMMITMENTS AND CONTINGENCIES Legal proceedings From time to time, the Group is subject to legal proceedings and claims in the ordinary course of business. The Group does not believe that any currently pending legal proceeding to which the Group is a party will have a material effect on its business, balance sheets, or results of operations or cash flows. |
Cost of Revenues
Cost of Revenues | 12 Months Ended |
Dec. 31, 2020 | |
Cost of Revenue [Abstract] | |
Cost of Revenues | 14. COST OF REVENUES Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Content-related costs 441,459 633,042 720,465 110,416 Depreciation and amortization 41,600 31,169 29,889 4,581 Bandwidth and internet data center 105,313 106,146 113,858 17,450 Tax surcharges 231,916 189,935 96,958 14,859 820,288 960,292 961,170 147,306 |
Ordinary Shares
Ordinary Shares | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Ordinary Shares | 15. ORDINARY SHARES Holders of Class A ordinary shares and Class B ordinary shares have the same rights except for conversion and voting rights. Each Class B ordinary share is convertible into one Class A ordinary share at any time, while Class A ordinary shares cannot be converted into Class B ordinary shares under any circumstances. Each Class A ordinary share is entitled to one vote. As of December 31, 2020, the Company had 479,219,628 issued and outstanding ordinary shares after taking into account the effects of the Share Subdivision as detailed in Note 2(a). |
Restricted Net Assets
Restricted Net Assets | 12 Months Ended |
Dec. 31, 2020 | |
Other Restricted Assets [Abstract] | |
Restricted Net Assets | 16. RESTRICTED NET ASSETS The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Company’s PRC subsidiaries only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the consolidated financial statements prepared in accordance with U.S.GAAP differ from those reflected in the statutory financial statements of the Company’s PRC subsidiaries. Under PRC law, the Company’s PRC subsidiaries are required to provide for certain statutory reserves, namely a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. The subsidiary is required to allocate at least 10% of their after tax profits on an individual company basis as determined under PRC accounting standards to the general reserve and has the right to discontinue allocations to the general reserve if such reserve has reached 50% of registered capital on an individual company basis. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the Board of Directors of the subsidiary. The Company’s VIEs in the PRC are also subject to similar statutory reserve requirements. These reserves can only be used for specific purposes and are not transferable to the Group in the form of loans, advances or cash dividends. As of December 31, 2018, 2019 and 2020, the Company’s PRC subsidiaries and VIEs had appropriated RMB75,929, RMB84,537 and RMB87,759 (US$13,450), respectively, of retained earnings for its statutory reserves. As a result of these PRC laws and regulations subject to the limit discussed above that require annual appropriations of 10% of after-tax The Company performed a test on the restricted net assets of its consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X 4-08 20 |
Earnings Per Share_ADS
Earnings Per Share/ADS | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share/ADS | 17. EARNINGS PER SHARE/ADS Following the Share Subdivision and the ADS Ratio Change as detailed in Note 2(a), each ordinary share was subdivided into four Basic and diluted earnings per share for each of the years presented are calculated as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Basic earnings per share: Numerator: Net income attributable to Autohome Inc. 2,871,015 3,199,966 3,405,229 521,872 Denominator: Weighted average ordinary shares outstanding 470,687,884 474,328,384 477,467,268 477,467,268 Basic earnings per share (Note) 6.10 6.75 7.13 1.09 Diluted earnings per share: Numerator: Net income attributable to Autohome Inc. 2,871,015 3,199,966 3,405,229 521,872 Denominator: Weighted average ordinary shares outstanding 470,687,884 474,328,384 477,467,268 477,467,268 Dilutive effect of share-based awards 6,253,632 3,732,604 2,219,112 2,219,112 Weighted average number of shares outstanding-diluted 476,941,516 478,060,988 479,686,380 479,686,380 Diluted earnings per share (Note) 6.02 6.69 7.10 1.09 Earnings per ADS Net income per ADS – basic (RMB ) 24.40 26.99 28.53 4.37 Net income per ADS – diluted (RMB ) 24.08 26.77 28.40 4.35 Note: Basic and diluted net income per ordinary share, weighted average number of ordinary shares and the adjustments for dilutive effect of share-based awards have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a). The effects of 636,132, 389,440 and 481,828 stock options (previously 159,033, 97,360 and 120,457 stock options, respectively before the Share Subdivision as detailed in Note 2(a)) were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive during the years ended December 31, 2018, 2019 and 2020, respectively. The effects of restricted shares (previously 254,829, 178,675 and 22,634 restricted shares, respectively before the Share Subdivision as detailed in Note 2(a)) were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive during the years ended December 31, 2018, 2019 and 2020, respectively. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | 18. SHARE BASED COMPENSATION In order to provide additional incentives to employees and to promote the success of the Company’s business, the Company adopted a share incentive plan in 2011 (the “2011 Plan”), a share incentive plan in 2013 (the “2013 Plan”), Amended and Restated 2016 Share Incentive Plan (the “2016 Plan”) and 2016 Share Incentive Plan II (the “2016 Plan II”) in 2016, collectively “the Plans”. The Company may grant share-based awards to its employees, directors and consultants to purchase an aggregate of no more than 31,372,400, 13,400,000, 19,560,000 and 12,000,000 ordinary shares (previously ordinary shares, respectively before the Share Subdivision as detailed in Note 2(a)) of the Company under the 2011 Plan, 2013 Plan Following the Share Subdivision and the ADS Ratio Change that became effective on February 5, 2021 as detailed in Note 2(a), each ordinary share was subdivided into four ordinary shares and each ADS represents four ordinary shares. Pro-rata Share options The following table summarizes the Company’s employee share option activity under the share option plans: Number of Weighted Weighted Weighted Aggregate Outstanding, January 1, 2020 877,393 45.30 34.14 7.61 30,729 Granted 130,548 84.59 40.52 Exercised (460,222 ) 33.15 Forfeite d (35,929 ) 51.56 Outstanding, December 31, 2020 511,790 63.83 41.10 7.54 18,910 Vested and expected to vest at December 31, 2020 489,476 62.24 41.00 7.40 18,296 Exercisable as of December 31, 2020 201,517 47.43 35.87 6.36 10,518 The aggregate intrinsic value in the table above is calculated as the difference between the exercise price of the underlying awards and US$99.62, the closing stock price of the Company’s ordinary shares on December 31, 2020. The weighted-average grant-date fair value of options granted during the years ended December 31, 2018, 2019 and 2020 was US$52.60, US$45.26 and US$40.52, respectively. The total grant date fair value of options vested during the years ended December 31, 2018, 2019 and 2020 was RMB63,708, RMB79,197 and RMB58,092 (US$8,903), respectively. Total intrinsic value of options exercised during the years ended December 31, 2018, 2019 and 2020 was RMB189,564, RMB178,577 and RMB170,374 (US$26,111), respectively. The aggregate fair value of the outstanding options at the grant dates were determined to be RMB137,253 (US$21,035) and such amount shall be recognized as compensation expenses using the straight-line method for all employee share options granted with graded vesting. As of December 31, 2020, there was RMB62,483 (US$9,576) of total unrecognized share-based compensation expenses, net of estimated forfeitures, related to unvested share-based awards which are expected to be recognized over a weighted-average period of 2.16 years. Total unrecognized compensation expenses may be adjusted for future changes in estimated forfeitures. Restricted shares Restricted shares activity for the year ended December 31, 2020 was as follows: Number Weighted Outstanding, January 1, 2020 1,005,290 65.73 Granted 467,115 85.44 Vested (417,998 ) 53.07 Forfeited (201,076 ) 61.48 Outstanding, December 31, 2020 853,331 79.88 Expected to vest, December 31, 2020 655,199 79.47 The weighted average grant-date fair value of restricted shares granted during the years ended December 31, 2018, 2019 and 2020 was US$91.00, US$85.30 and US$85.44, respectively, which was derived from the fair value of the underlying ordinary shares. The total grant date fair value of restricted shares vested during the years ended December 31, 2018, 2019 and 2020 was RMB106,563, RMB141,227 and RMB144,757 (US$22,185). The aggregate fair value of the outstanding restricted shares at the grant dates were determined to be RMB444,796 (US$68,168) and such amount shall be recognized as compensation expense using the straight-line method for all restricted shares granted with graded vesting. As of December 31, 2020, there was RMB257,855 The binomial option pricing model was applied in determining the estimated fair value of the options granted to employees. The model requires the input of highly subjective assumptions including the estimated expected stock price volatility and the exercise multiple for which employees are likely to exercise share options. For expected volatilities, the Company has made reference to the historical price volatilities of ordinary shares of several comparable companies in the same industry as the Company. The exercise multiple is estimated as the ratio of fair value of underlying shares over the exercise price as at the time the option is exercised and is based on a consideration of research study regarding exercise pattern based on historical statistical data. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury Bills yield curve in effect at the time of grant. The Company’s management is ultimately responsible for the determination of the estimated fair value of its ordinary shares. Subsequent to the IPO, fair value of the ordinary shares was the price of the Company’s publicly traded shares. The Company calculated the estimated fair value of the share-based awards on the respective grant dates using the binomial option pricing model with the following assumptions: 2018 2019 2020 Fair value of ordinary share US$63.91-US$98.31 US$87.39 US$77.32-US$94.46 Risk-free interest rates 2.42%-3.09% 1.96% 0.62%-1.92% Expected exercise multiple 2.2-2.8 2.2 2.2-2.8 Expected volatility 52%-60% 53% 52%-53% Expected dividend yield 0.00% 0.00% 1.00% Weighted average fair value per option granted US$40.71-US$78.09 US$45.26 US$30.00-US$44.69 Share-based compensation expenses relating to options and restricted shares granted to employees recognized for the years ended December 31, 2018, 2019 and 2020 is as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Cost of revenues 16,112 15,508 21,372 3,276 Sales and marketing expenses 61,599 46,081 40,103 6,146 General and administrative expenses 55,992 62,884 55,868 8,562 Product development expenses 68,622 79,535 93,863 14,385 202,325 204,008 211,206 32,369 |
Acquisition
Acquisition | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Acquisition | 19. ACQUISITIO N In October 2020, the Company entered into a definitive agreement with TTP, an auction platform for used cars in China. Pursuant to the agreement, the Company committed to make an investment in TTP through subscription of preferred shares of TTP for an aggregate purchase price preferred shares of TTP on an as-converted basis; and (ii) the second closing transaction million, in exchange for an additional 4.17% preferred shares of TTP. In addition, the Company also obtained the right to purchase up The first closing transaction was completed on December 31, 2020, which would give the Company voting rights at the shareholders’ level and right to appoint majority members on TTP’s board of directors. Therefore, the Company has obtained control over TTP. After the first closing, the Company holds investments in TTP both in forms of convertible bonds and preferred shares, representing in aggregate of TTP’s equity interest on as-converted basis. The second closing transaction is subject to certain closing conditions and is expected to be completed in 2021. After the second closing, the Company will hold as-converted The acquisition was accounted for as a business combination. The financial position and results of operation of TTP and its subsidiaries have been included in the Group’s consolidated financial statements on December 31, 2020. Since the acquisition was effective on the last day of the fiscal year, the impact was immaterial to the results of operations for the year ended December 31, 2020. Total purchase price for the acquisition comprised of: Amount RMB’000 Total Cash consideration 935,932 Less: consideration for New Warrant (74,383 ) Purchase consideration 861,549 The Group made estimates and judgments in determining the fair value of the assets acquired and liabilities assumed with the assistance from an independent valuation firm. The purchase price allocation as the date of the acquisition is as follows: Amount Amortization RMB’000 Intangible assets - Technologies 202,100 5 years - Trademarks 106,900 10 years - Customer relationship 41,300 5 years - Database 73,500 5 years Goodwill 2,567,113 Net liabilities acquired, excluding intangible assets and the related deferred tax liabilitie s (861,918 ) Deferred tax liabilities (63,570 ) Noncontrolling interests (147,639 ) Convertible redeemable (1,056,237 ) 861,549 (a) TTP had issued previously preferred shares in several series to certain shareholders, which could be redeemed by such shareholders upon the occurrence of certain events. The outcome of these events are not solely within the control of the Company and, therefore, these preferred shares have been accounted for as convertible redeemable noncontrolling interests. The excess of purchase price over net tangible assets and identifiable intangible assets acquired was recorded as goodwill. Goodwill primarily represents the expected synergies from combining the TTP’s resources and experiences in the used car auction industry with the Group’s current business. The goodwill is not expected to be deductible for tax purposes. Pro forma results of operations for TTP acquisition has not been presented because it was not material to the consolidated financial statements. |
Condensed Financial Information
Condensed Financial Information of the Parent Company | 12 Months Ended |
Dec. 31, 2020 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Financial Information of the Parent Company | 20. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY CONDENSED BALANCE SHEETS As of December 31, 2019 2020 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 308,354 281,379 43,123 Prepaid expenses and other current assets 33,723 815,934 125,048 Total current assets 342,077 1,097,313 168,171 Non-current Other non-current 789,542 — — Investment in subsidiaries and VIEs 13,522,962 16,540,687 2,534,971 Total non-current 14,312,504 16,540,687 2,534,971 Total assets 14,654,581 17,638,000 2,703,142 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities : Accrued expenses and other payables 25,484 12,266 1,880 Total current liabilities 25,484 12,266 1,880 Total liabilities 25,484 12,266 1,880 Commitments and Contingencies Shareholders’ equity: Ordinary shares (par value of US$0.0025 per share; ordinary shares authorized; 475,706,748 and 479,219,628 ordinary s outstanding, as of December 31, 2019 and 2020, respectively) (Note) 8,029 8,089 1,240 Additional paid-in 3,774,373 4,089,763 626,784 Accumulated other comprehensive income 148,415 62,295 9,547 Retained earnings 10,698,280 13,465,587 2,063,691 Total shareholders’ equity 14,629,097 17,625,734 2,701,262 Total liabilities and shareholders’ equity 14,654,581 17,638,000 2,703,142 Note: Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Operating expenses: General and administrative expenses (14,797 ) (14,757 ) (21,109 ) (3,235 ) Operating losses (14,797 ) (14,757 ) (21,109 ) (3,235 ) Interest income 45,023 79,628 80,574 12,349 Fair value change of other current and non-current (11,017 ) (5,442 ) (15,658 ) (2,400 ) Share of income of subsidiaries and VIEs 2,851,806 3,140,537 3,361,422 515,158 Income before income taxes 2,871,015 3,199,966 3,405,229 521,872 Income tax expense — — — — Net income 2,871,015 3,199,966 3,405,229 521,872 Other comprehensive (loss)/income, net of tax of nil Foreign currency translation adjustments 58,421 20,040 (86,120 ) (13,198 ) Comprehensive income 2,929,436 3,220,006 3,319,109 508,674 CONDENSED STATEMENTS OF CASH FLOWS Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Net cash generated from/(used in) operating activities 14,214 (498 ) (1,188 ) (182 ) Net cash generated from investing activities 515,101 218,406 532,293 81,577 Net cash (used in)/generated from financing activities (543,968 ) 68,676 (546,967 ) (83,826 ) Effect of exchange rate changes on cash and cash equivalents and restricted cash 1,040 3,602 (11,113 ) (1,703 ) Net (decrease)/increase in cash and cash equivalents and restricted cash (13,613 ) 290,186 (26,975 ) (4,134 ) Cash and cash equivalents and restricted cash at beginning of year 31,781 18,168 308,354 47,257 Cash and cash equivalents and restricted cash at end of year 18,168 308,354 281,379 43,123 (a) Basis of accounting For the Company only condensed financial information, the Company records its investment in its subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323-10 , Investments-Equity Method and Joint Ventures: Overall. (b) Commitments Except for those disclosures in somewhere else in the consolidated financial statements, t |
Covid -19
Covid -19 | 12 Months Ended |
Dec. 31, 2020 | |
Unexpected Events [Abstract] | |
Covid -19 | 21. COVID-19 The automotive industry in China was negatively impacted by the COVID-19 COVID-19 re-imposition COVID-19 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 22. SUBSEQUENT EVENTS Share Subdivision and the ADS Ratio Change As detailed in Note 2(a), the Share Subdivision and the ADS Ratio Change were effective on February 5, 2021. The number of issued and unissued ordinary shares as disclosed in these consolidated financial statements are prepared on a basis after taking into account the effects of the Share Subdivision and the ADS Ratio Change and have been retrospectively adjusted accordingly. Dividends On February 2, 2021 4-for-1 Share March 5, 2021 February 25, 2021 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of accounting | (a) Basis of accounting The accompanying consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). On February 2, 2021, the Company announced that the following proposed resolution submitted for shareholder approval has been adopted and approved as a special resolution at the Company’s extraordinary general meeting of shareholders: All authorized Class A ordinary shares and Class B ordinary shares are re-designated per-ADS |
Principles of Consolidation | (b) Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, and the VIEs for which the Company or subsidiaries of the Company are the primary beneficiaries. All significant inter-company transactions and balances between the Company, its subsidiaries, and the VIEs are eliminated upon consolidation. Results of acquired subsidiaries and VIEs are consolidated from the date on which control is transferred to the Company. |
Use of Estimates | (c) Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the year. Areas where management uses subjective judgment include, but are not limited to identification of performance obligations, standalone selling price for each performance obligation and estimation of variable consideration represented by sales rebates related to revenue transactions, initial valuation of the assets acquired and liabilities assumed in a business combination, fair value measurement of short-term investments, depreciation or amortization of long-lived assets and intangible assets, subsequent impairment assessment of long-lived assets, intangible assets, goodwill, other non-current |
Foreign Currency | (d) Foreign Currency The functional currency of the Company, its Cayman subsidiaries and Cheerbright, is the United States dollar (“US$”), whereas the Company’s subsidiaries and VIEs with operations in the PRC, Hong Kong, and other jurisdictions generally use their respective local currencies as their functional currencies as determined based on the criteria of ASC 830 , Foreign Currency Matters re-measured re-measured Assets and liabilities of the Company and Company’s subsidiaries, other than the subsidiaries with the functional currency of RMB, are translated into RMB at fiscal year-end are |
Convenience Translation | (e) Convenience Translation Amounts in United States dollars (“US$”) are presented for the convenience of the reader and are translated at the noon buying rate of US$1.00 to RMB6.5250 on December 31, 2020 in the City of New |
Cash and Cash Equivalents | (f) Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits, time deposits and money market funds placed with banks or other financial institutions which are unrestricted as to withdrawal and use and have original maturities of three months or less. |
Short-term Investments | (g) Short-term Investments Short-term investments represent bank deposits, adjustable-rate financial products with original maturities of greater than 3 months but less than 1 year and money market funds that are measured at fair value. In accordance with ASC 825 , Financial Instruments |
Restricted Cash and Consolidated Statement of Cash Flows | (h) Restricted Cash and Consolidated Statement of Cash Flows Restricted cash primarily represents cash deposits in a regulatory escrow account related to insurance brokerage services and application for the credit lines from bank. The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows: As of December 31, 2018 2019 2020 RMB RMB RMB US$ Amounts shown in Consolidated Balance Sheets: Cash and cash equivalents 211,970 1,988,298 1,751,222 268,387 Restricted cash 5,000 5,200 17,926 2,747 Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows 216,970 1,993,498 1,769,148 271,134 |
Fair Value Measurements of Financial Instruments | (i) Fair Value Measurements of Financial Instruments Financial instruments of the Group primarily comprise of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, amounts due from related parties, prepaid expenses and other current assets excluding prepayments and staff advances, other non-current right-of-use , non-current ASC topic 820 (“ASC 820”), Fair Value Measurements and Disclosures Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets Level 2 – Include other inputs that are directly or indirectly observable in the marketplace Level 3 – Unobservable inputs which are supported by little or no market activity ASC 820 expectations |
Property and Equipment | (j) Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated useful life Electronic equipment 3 – Office equipment 3 Motor vehicles 4 – Software 3 Leasehold improvements Shorter of lease term or the estimated useful lives of the assets Repair and maintenance costs are charged to expense as incurred, whereas the costs of betterments that extend the useful life of property and equipment are capitalized as additions to the related assets. Retirements, sale and disposals of assets are recorded by removing the cost and accumulated depreciation with any resulting gain or loss reflected in the consolidated statements of comprehensive income. |
Intangible Assets | (k) Intangible Assets Intangible assets are carried at cost less accumulated amortization and any recorded impairment. Intangible assets acquired in a business combination were recognized initially at fair value at the date of acquisition. Intangible assets acquired in asset acquisitions are measured based on the cost to the acquiring entity, which generally includes economic the are estimated Category Estimated useful life Trademarks 3-15 years Technologies 5 years Customer relationship 5 years Websites 4 years Domain names 4-10 years Database 5 years Licensing agreements 1.75 years Insurance brokerage license 4 years |
Long-term Investments | (l) Long-term Investments The Company’s long-term investments consist of equity method investments. Investments in entities in which the Company can exercise significant influence and holds an investment in voting common stock or in-substance Investments-Equity Method and Joint Ventures |
Goodwill | (m) Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business. The Group’s goodwill at December 31, 2019 and 2020 were related to its acquisition of Cheerbright, China Topside and Norstar in June 2008, and its acquisition of TTP in December 2020. In accordance with ASC 350, Goodwill and Other Intangible Assets Goodwill is tested for impairment at the reporting unit level on an annual basis (December 31 for the Company) and between annual tests if an event occurs or circumstances change that would more-likely-than-not Management has determined that the Group represents the lowest level within the entity at which goodwill is monitored for internal management purposes. Starting from January 1, 2020, the Group adopted ASU 2017-04, two-step more-likely-than-not 2018, If the Group reorganizes its reporting structure in a manner that changes the composition of one or more of its reporting units, goodwill is reassigned based on the relative fair value of each of the affected reporting units. |
Other non-current assets | (n) Other non-current Other non-current is A convertible bond that is not within the scope of ASC 320 “ Investments—debt and equity securities Receivables Derivatives and Hedging According to ASC 310-10-35, No. 2016-13, credit ratings of similar debt instruments, As of December 31, 2020, the Company has completed the acquisition of TTP, and Convertible Bond and Warrant have been eliminated in the consolidated financial statements. |
Impairment of Long-Lived Assets and Intangibles | (o) Impairment of Long-Lived Assets and Intangibles The Group evaluates its long-lived assets or asset group, including intangible assets with finite lives, for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset or a group of long-lived assets may not be recoverable. When these events occur, the Group evaluates impairment by comparing the carrying amount of the assets to future undiscounted net cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the excess of the carrying amount of the asset group over its fair value. No impairment charge was recorded for any of the years presented. |
Revenue Recognition and Accounts Receivable | (p) Revenue Recognition and Accounts Receivable The Group accounts for revenue in accordance with the ASU No. 2014-09, “Revenue The Group determines revenue recognition through the following steps • identification of the contract, or contracts, with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Group satisfies a performance obligation Media services Media services revenues mainly include revenues from automaker advertising services and regional marketing campaigns conducted by certain automobile brands’ regional offices. The majority of online advertising service contracts involve multiple deliverables or performance obligations presented on PC and mobile platforms and under different formats such as banner advertisements, links and logos, other media insertions and promotional activities that are delivered over different periods of time. Revenue is allocated among these different deliverables based on their relative standalone selling prices. The Group generally determines the standalone selling price as the observable price of a product or service charged to customers when sold on a standalone basis. Advertising services are primarily delivered based on cost per day (“CPD”) pricing model. For CPD advertising arrangements, revenue is recognized when the corresponding advertisements are published over the stated display period. For cost per thousand impressions (“CPM”) model, revenue is recognized when the advertisements are displayed and based on the number of times that the advertisement has been displayed. For cost-per-click Leads generation services Leads generation services primarily include revenues from (i) dealer subscription services, (ii) advertising services sold to individual dealer advertisers, and (iii) used car listing services. Under the dealer subscription services, the Group makes available throughout the subscription period a webpage linked to its websites and mobile applications where the dealers can publish information such as the pricing of their products, locations and addresses and other related information. Usually, advanced payment is made for the dealer subscription services and revenue is recognized over time on a straight line basis as services are constantly provided over the subscription period. For the advertising services sold to individual dealers, revenue is recognized when the advertising is published over the stated display period. The used car listing services primarily include listing and display of used vehicles, generation of sales leads, etc, through the Group’s platform. The used car platform acts as a user interface that allows potential used car buyers to identify listings that meet their specific requirements and contact the seller. The service fee is charged per the number of displayed days, or quantity of sales leads delivered. Revenue is recognized respectively at a point in time upon the display of vehicles or the delivery of sales leads. Online marketplace and others Online marketplace and others revenue primarily consist of revenues related to data products, new car and used car marketplace, auto-financing business, and others. For the data products, the Group provides data analysis reports and data-driven products and solutions for the automakers and dealers and recognizes revenue at a point in time upon the delivery of reports or over the period of the consumption or utilization of data-driven products and solutions by the automakers and dealers. For the new car and used car marketplace, and auto-financing business, the Group provides platform-based services including facilitation of transactions, transaction-oriented marketing solutions, generation of sales leads and facilitation of transactions as an insurance brokerage service provider. For the new car marketplace, the Group also acts as the platform for users to review automotive-related information, purchase coupons offered by automakers for discounts and make purchases to complete the transaction. For the used car platform, the Group acts as a used car consumer-to-business-to-consumer, Contract Balances and Accounts Receivable Payment terms and conditions vary by contract and service types. However, generally speaking, excluding dealer subscription and used car listing, the rest of service contracts usually require payment within several months of service delivery. The term between billings and when payment is due is not significant and the Group generally does not provide significant financing terms. Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenue recognized prior to invoicing, when the Group has satisfied its performance obligations and has the unconditional right to payment. Non-refundable Accounts receivable are carried at net realizable value. Prior to the adoption of ASC 326, an allowance for doubtful accounts is recorded in the period when a loss is probable based on an assessment of specific evidence indicating troubled collection, historical experience, accounts aging and other factors. On January 1, 2020, the Group adopted Accounting Standards Update No. 2016-13, Practical Expedients and Exemptions The Group Group remaining performance obligations The revenue standard requires the Group to recognize an asset for the incremental costs of obtaining a contract with a customer if the benefit of those costs is expected to be longer than one year. The Group has determined that sales commission for sales personnel meet the requirements of capitalization. However, the Group applies a practical expedient to expense these costs as incurred for costs to obtain a contract |
Cost of Revenues | (q) Cost of Revenues Cost of revenues primarily consist of bandwidth and internet data center fees, depreciation of the Group’s long-lived assets, amortization of acquired intangible assets, tax surcharges, content-related costs and cost of sales. Content-related costs primarily comprise of salaries and benefits for employees directly involved in revenue generation activities, cost related to content generation and acquisition and execution cost and other overhead expenses directly attributable to the provision of the media services, leads generation services and online marketplace and others. |
Advertising Expenditures | (r) Advertising Expenditures Advertising expenditures which amounted to RMB1,047,160, RMB1,649,660 and RMB1,795,330 (US$275,146) for the years ended December 31, 2018, 2019 and 2020, respectively, are expensed as incurred and are included in sales and marketing expenses. |
Product Development Expenses | (s) Product Development Expenses Product development expenses consist primarily of employee costs related to personnel involved in the development and enhancement of the Group’s service offerings on its websites and mobile applications, and expenditure for research and development activities. The Group recognizes these costs as expenses when incurred, unless they qualify for capitalization as software development costs. |
Leases | (t) Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases 2016-02”). The Group has elected to utilize the package of practical expedients at the time of adoption, which allows the Group to (1) not reassess whether any expired or existing contracts are or contain leases, (2) not reassess the lease classification of any expired or existing leases, and (3) not reassess initial direct costs for any existing leases. The Company also has elected to utilize the short-term lease recognition exemption and, for those leases that qualified, the Group did not recognize operating lease right-of-use Upon the adoption of the new guidance on January 1, 2019, the Group recognized operating lease ROU assets of RMB184,849 and operating lease liabilities of RMB176,376 (including current portion of RMB121,780 and non-current The amount of the operating lease right-of-use assets of RMB184,849 over the operating lease liabilities of RMB176,376 recognized on January 1, 2019 was credited to prepaid expenses and other current assets on the consolidated balance sheet as of January 1, 2019. The Group determines if an arrangement is a lease and determines the classification of the lease, as either operating or finance, at commencement. The Group has operating leases for office buildings and data centers and has no finance leases as of December 31, 2019 and 2020. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the lease payments over the lease term at commencement date. As the Group’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the information available at commencement date, to determine the present value of lease payments. The incremental borrowing rates approximate the rate the Group would pay to borrow in the currency of the lease payments for the weighted-average life of the lease. The operating lease ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives and initial direct costs incurred if any. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Group’s lease agreements contain both lease and non-lease As of December 31, 2019 and 2020, the Group recognized the following items related to operating lease in its consolidated balance sheets. As of December 31, 2019 2020 RMB RMB US$ Classification in Consolidated Balance Sheets Operating lease ROU assets Other non-current 81,055 209,339 32,083 Operating lease liabilities, current portion Accrued expenses and other payables 52,781 112,094 17,178 Operating lease liabilities, non-current Other liabilities 23,067 90,614 13,887 Lease cost recognized in the Group’s consolidated statements of comprehensive income is summarized Year ended December 31, 2019 2020 RMB RMB US$ Classification in Consolidated Statements of Comprehensive Income Operating lease cost Cost of revenues and operating expenses 128,507 117,479 18,004 Cost of other leases with terms less than one year Cost of revenues and operating expenses 38,229 66,253 10,154 Maturities of operating lease liabilities as of December 31, 2019 and 2020 are as follows As of December 31, 2019 2020 RMB RMB US$ 2020 54,091 — — 2021 19,963 120,527 18,472 2022 4,719 87,260 13,373 2023 — 17,596 2,697 2024 — 1,005 154 2025 — 200 31 Total lease payments 78,773 226,588 34,727 Less imputed interest (2,925 ) (23,880 ) (3,662 ) Total 75,848 202,708 31,065 As of December 31, 2020, the Gr o As of December 31, 2020, the Group does not have any significant operating or finance leases that have not yet commenced. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Group leased office space and data centers from its related party, Ping An Group for a total amount of RMB72,185 and RMB119,855 (US$18,369) for the year s , respectively. |
Income Taxes | (u) Income Taxes The Group accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Group records a valuation allowance against deferred tax assets if, based on the weight of available evidence, it is more-likely-than-not The Group applies ASC 740, Accounting for Income Taxes The Group’s estimated liability for unrecognized tax benefits and the related interest and penalties are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The actual benefits ultimately realized may differ from the Group’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Company’s consolidated financial statements. Additionally, in future periods, changes in facts and circumstances, and new information may require the Group to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which they occur. |
Earnings Per Share | (v) Earnings Per Share Earnings per share are calculated in accordance with ASC 260-10, two-class Diluted earnings per ordinary share reflects the potential dilution that could occur if securities to issue ordinary shares were exercised. The dilutive effect of outstanding share-based awards is reflected in the diluted earnings per share by application of the treasury stock method. |
Comprehensive Income | (w) Comprehensive Income Comprehensive income is defined to include all changes in shareholders’ equity except those resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220-10, Comprehensive Income: Overall statements |
Noncontrolling interests | (x) Noncontrolling interests Noncontrolling interests are recognized to reflect the portion of the equity of majority-owned subsidiary which is not attributable, directly or indirectly, to the controlling shareholder. Noncontrolling interests are classified as a separate line item in the equity section of the Group’s consolidated balance sheets and have been separately disclosed in the Group’s consolidated statements of comprehensive income to distinguish the interests from that of the Company. |
Segment Reporting | (y) Segment Reporting In accordance with ASC 280-10, Segment Reporting substantially |
Employee Benefits | (z) Employee Benefits The full-time employees of the Company’s PRC subsidiaries and VIEs are entitled to staff welfare benefits including medical care, housing fund, pension benefits and unemployment insurance, which are governmental mandated defined contribution plans. These entities are required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. The total expenses for the employee benefits plans were RMB319,491, RMB344,829 and RMB241,951 (US$37,081) for the years ended December 31, 2018, 2019 and 2020, respectively. |
Share-based Compensation | (aa) Share-based Compensation Share-based awards granted to employees are accounted for under ASC 718, Compensation—Stock Compensation Under ASC 718, an entity can make an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company has elected to estimate the forfeiture rate at the time of grant and revise, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. The Company recognizes compensation cost for awards with performance conditions if and when the Company concludes that it is probable that the performance condition will be achieved. The Company reassesses the probability of vesting at each reporting period for awards with performance conditions and adjusts compensation cost based on its probability assessment. Forfeiture rates are estimated based on historical and future expectations of employee turnover rates and are adjusted to reflect future changes in circumstances and facts, if any. Share-based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share-based awards that are expected to vest. To the extent the Company revises these estimates in the future, the share-based payments could be materially impacted in the period of revision, as well as in following periods. The Company, with the assistance of an independent third-party valuation firm, determined the fair value of the stock options granted to employees. The binomial option pricing model was applied in determining the estimated fair value of the options granted to employees. Subsequent to the IPO, fair value of the ordinary shares is the price of the Company’s publicly traded shares. The Company accounts for a change in any of the terms or conditions of share-based awards as a modification in accordance with ASC subtopic 718-20, Compensation-Stock Compensation: Awards Classified as Equity |
Other income, net | (bb) Other income, net Commencing in 2018 with the adoption of the new revenue accounting standard, VAT refunds are presented as a component of other income, net. For Beijing Prbrownies Software Co., Ltd., Chengdu Prbrownies Software Co., Ltd. and Tianjin Autohome Data Information Technology Co., Ltd., they are subject to 13% VAT (or 16% VAT before April 1, 2019 and 17% before May 1, 2018) for the dealer subscription services and other services, which were sold in the form of software products. Since November 2014, December 2016 and January 2020, respectively, Beijing Prbrownies Software Co., Ltd., Chengdu Prbrownies Software Co., Ltd. and Tianjin Autohome Data Information Technology Co., Ltd. are entitled to an immediate 10% VAT (or 13% before April 1, 2019 and 14% before May 1, 2018) refund, which is a refund in excess of 3% VAT on the total VAT payable, after their registration of software products with relevant authorities and obtaining a refund approval from the local tax bureau. For the years ended December 31, 2018, 2019 and 2020, RMB289,326, RMB293,008 and RMB218,412 (US$33,473) of VAT refunds were recorded as other income, net. Other income, net also includes government grants, which primarily represent subsidies and tax refunds for operating a business in certain jurisdictions and fulfilment of specified tax payment obligations. These grants are not subject to any specific requirements and are recorded when received. For the years ended December 31, 2018, 2019 and 2020, RMB45,190, RMB147,694 and RMB210,022 (US$32,187) of government grants were recorded as other income, net. |
Commitment and contingencies | (cc) Commitment and contingencies From time to time, the Group is subject to legal proceedings and claims in the ordinary course of business. Liabilities for such contingencies are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. |
Business Combinations | (dd) Business Combinations The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805, Business Combinations In a business combination achieved in stages, the Group re-measures re-measurement For the Company’s majority-owned subsidiaries and consolidated VIEs, a noncontrolling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Company. When the noncontrolling interest is contingently redeemable upon the occurrence of a conditional event, which is not solely within the control of the Company, the noncontrolling interests are classified as mezzanine equity. Consolidated net income on the consolidated statements of comprehensive income includes the net income/loss attributable to noncontrolling interests and mezzanine equity holders when applicable. |
Recent Accounting Pronouncements | (ee) Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 |
Concentration of Risk | (ff) Concentration of Risk Credit risk Financial instruments that potentially subject the Group to significant concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments and accounts receivable. As of December 31, 2019 and 2020, cash and cash equivalents, restricted cash and short-term investments altogether amounting to RMB12,800,310 and RMB14,647,324 (US$2,244,801), respectively, were deposited with various major reputable financial institutions located in the PRC and international financial institutions outside of the PRC. Management believes that these financial institutions are of high credit quality and continually monitors the creditworthiness of these financial institutions. Historically, deposits in Chinese banks are secure due to the state policy on protecting depositors’ interests. However, China promulgated a new Bankruptcy Law in August 2006 that came into effect on June 1, 2007, which contains a separate article expressly stating that the State Council may promulgate implementation measures for the bankruptcy of Chinese banks based on the Bankruptcy Law. Under the new Bankruptcy Law, a Chinese bank may go into bankruptcy. In the event of bankruptcy of one of the banks which holds the Group’s deposits, it is unlikely to claim its deposits back in full since it is unlikely to be classified as a secured creditor based on PRC laws. The Group continues to monitor the financial strength of these financial institutions. Accounts receivable are typically unsecured and derived Business, customer, political, social and economic risks The Group participates in a dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Group’s future financial position, results of operations or cash flows; changes in the overall demand for services and products; changes in business offerings; epidemic outbreak that may cause disruption to business operation of the Group, its customers and suppliers; competitive pressures due to new entrants; acceptance of the Internet as an effective marketing platform by China’s automotive industry; changes in certain strategic relationships or customer relationships; growth in China’s automotive industry, regulatory considerations; and risks associated with the Group’s ability to attract and retain employees necessary to support its growth. There were no customer, customer and no customer that individually represented greater than % of the total net revenues for the years ended December , , and , respectively. Currency convertibility risk The Group transacts majority of its business in RMB, which is not freely convertible into foreign currencies. According to the relevant regulations in the PRC, all foreign exchange transactions are required to take place either through the People’s Bank of China (“PBOC”) or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. Most of the cash and cash equivalents and short-term investments held by PRC subsidiaries and the VIEs are denominated in RMB, while a portion of cash and cash equivalents and short-term investments held by PRC subsidiaries and the VIEs are denominated in US$. Cash distributed outside of the PRC by PRC subsidiaries and the VIEs are subject to PRC dividend withholding tax. Foreign Currency exchange rate risk Since July 21, 2005, the RMB was permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. There was depreciation of 5.4%, depreciation of 1.2%, and appreciation of 6.7% for the years ended December 31, 2018, 2019 and 2020, respectively. Any significant appreciation or depreciation of the RMB may materially and adversely affect the Group’s earnings and financial position, and the value of, and any dividends payable on, the Company’s ADSs in U.S. dollars. For example, to the extent that the Group need to convert U.S. dollars it received from its initial public offering into RMB to pay its operating expenses, appreciation of the RMB against the U.S. dollar would have an adverse effect on the RMB amount it would receive from the conversion. Conversely, a significant depreciation of the RMB against the U.S. dollar may significantly reduce the U.S. dollar equivalent of the Group’s earnings, which in turn could adversely affect the price of ADSs. |
Organization (Tables)
Organization (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Principal Subsidiaries of Company | As of December 31, 2020, the Company’s principal subsidiaries and VIEs where Autohome WFOE, Chezhiying WFOE and TTP WFOE are the primary beneficiaries include the following entities: Entity Date of Place of incorporation Percentage of Principal Subsidiaries Cheerbright International Holdings, Limited (“Cheerbright”) June 13, 2006 British Virgin Islands 100 % Autohome E-commerce February 6, 2015 Cayman Islands 100 % Autohome Link Inc. January 29, 2015 Cayman Islands 100 % TTP Car Inc. (“TTP”) June 12, 2015 Cayman Islands 49 % (Note) Autohome (Hong Kong) Limited (“Autohome HK”) March 16, 2012 Hong Kong 100 % Autohome Link Hong Kong Limited February 16, 2015 Hong Kong 100 % Autohome Media Limited (“Autohome October 18, 2013 Hong Kong 100 % Fetchauto Limited (UK) October 8, 2019 United Kingdom 100 % Fetchauto Limited (Ireland) October 18, 2019 Ireland 100 % FetchAuto GmbH December 23, 2019 Germany 100 % TTP CAR (HK) Limited June 23, 2015 Hong Kong 49 % Beijing Cheerbright Technologies Co., Ltd. (“Autohome WFOE”) September 1, 2006 PRC 100 % Autohome Shanghai Advertising Co., Ltd. (“Shanghai Advertising”) September 29, 2013 PRC 100 % Beijing Prbrownies Software Co., Ltd. (formerly known as “Beijing Autohome Software Co., Ltd.”) November 12, 2013 PRC 100 % Beijing Autohome Technologies Co., Ltd. November 12, 2013 PRC 100 % Beijing Autohome Advertising Co., Ltd. November 13, 2013 PRC 100 % Guangzhou Autohome Advertising Co., Ltd. November 25, 2013 PRC 100 % Beijing Chezhiying Technology Co., Ltd. May 26, 2015 PRC 100 % Beijing Kemoshijie Technology Co., Ltd. September 11, 2015 PRC 75 % Chengdu Prbrownies Software Co., Lt d September 30, 2016 PRC 100 % Guangzhou Chezhihuitong Advertising Co., Ltd. August 20, 2018 PRC 100 % Hainan Chezhiyitong Information Technology Co., Ltd. August 20, 2018 PRC 100 % Tianjin Autohome Data Information Technology Co., Ltd. October 15, 2018 PRC 100 % Autohome Zhejiang Advertising Co., Ltd. December 19, 2018 PRC 100 % Shanghai Jinpai E-commerce . July 31, 2015 PRC 49 % Principal VIEs and VIEs’ subsidiaries Beijing Autohome Information Technology Co., Ltd. (“Autohome Information”) August 28, 2006 PRC — Beijing Shengtuo Hongyuan Information Technology Co., Ltd. (“Shengtuo Hongyuan”) November 8, 2010 PRC — Shanghai Tianhe Insurance Brokerage Co., Ltd. September 21, 2017 PRC — Shanghai Jinwu Auto Technology Consultant Co., Ltd. (“Shanghai Jinwu”) September 20, 2007 PRC — |
Schedule of Assets, Liabilities, and Cash Flows of VIEs | The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs included in the Company’s consolidated balance sheets, consolidated statements of comprehensive income and consolidated statements of cash flows. As of December 31, 2019 2020 RMB RMB US$ Current assets 375,908 558,442 85,585 Non-current 1,607,933 1,653,968 253,482 Total assets 1,983,841 2,212,410 339,067 Accrued expenses and other payables 109,934 497,742 76,282 Advance from customers 63,969 87,604 13,426 Deferred revenue 18,947 17,644 2,704 Amounts due to related parties 453 — — Inter-company payables 86,275 103,393 15,846 Total current liabilities 279,578 706,383 108,258 Other liabilities 12,383 9,054 1,387 Deferred tax liabilities 7,121 2,677 410 Total non-current 19,504 11,731 1,797 Total liabilities 299,082 718,114 110,055 Net assets 1,684,759 1,494,296 229,012 Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Net revenues 673,188 702,040 700,608 107,373 Net income/(loss) 29,099 (848 ) 23,342 3,577 Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Net cash (used in)/generated from operating activities (224,531 ) (446,358 ) 23,147 3,547 Net cash generated from investing activities 131,087 478,513 193,190 29,608 Net cash generated from financing activities — — — — |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Reconciliation of Cash, Cash Equivalents and Restricted Cash | The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows: As of December 31, 2018 2019 2020 RMB RMB RMB US$ Amounts shown in Consolidated Balance Sheets: Cash and cash equivalents 211,970 1,988,298 1,751,222 268,387 Restricted cash 5,000 5,200 17,926 2,747 Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows 216,970 1,993,498 1,769,148 271,134 |
Schedule of Estimated Useful Life of Property and Equipment | Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated useful life Electronic equipment 3 – Office equipment 3 Motor vehicles 4 – Software 3 Leasehold improvements Shorter of lease term or the estimated useful lives of the assets |
Schedule of Estimated Useful Life of Intangible Assets | The estimated Category Estimated useful life Trademarks 3-15 years Technologies 5 years Customer relationship 5 years Websites 4 years Domain names 4-10 years Database 5 years Licensing agreements 1.75 years Insurance brokerage license 4 years |
Lease, Cost | Lease cost recognized in the Group’s consolidated statements of comprehensive income is summarized Year ended December 31, 2019 2020 RMB RMB US$ Classification in Consolidated Statements of Comprehensive Income Operating lease cost Cost of revenues and operating expenses 128,507 117,479 18,004 Cost of other leases with terms less than one year Cost of revenues and operating expenses 38,229 66,253 10,154 |
Lessee, Operating Lease, Liability, Maturity | Maturities of operating lease liabilities as of December 31, 2019 and 2020 are as follows As of December 31, 2019 2020 RMB RMB US$ 2020 54,091 — — 2021 19,963 120,527 18,472 2022 4,719 87,260 13,373 2023 — 17,596 2,697 2024 — 1,005 154 2025 — 200 31 Total lease payments 78,773 226,588 34,727 Less imputed interest (2,925 ) (23,880 ) (3,662 ) Total 75,848 202,708 31,065 |
Schedule of Operating Lease in its Unaudited Consolidated Balance Sheet | As of December 31, 2019 and 2020, the Group recognized the following items related to operating lease in its consolidated balance sheets. As of December 31, 2019 2020 RMB RMB US$ Classification in Consolidated Balance Sheets Operating lease ROU assets Other non-current 81,055 209,339 32,083 Operating lease liabilities, current portion Accrued expenses and other payables 52,781 112,094 17,178 Operating lease liabilities, non-current Other liabilities 23,067 90,614 13,887 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis Fair Value Measurement at Quoted Prices Significant Other Unobservable Fair Value at December 31, 2020 RMB RMB RMB RMB US$ Cash equivalents Time deposits — 268,634 — 268,634 41,170 Short-term investments Term deposits — 7,286,100 — 7,286,100 1,116,644 Adjustable-rate financial products — 5,592,076 — 5,592,076 857,023 Restricted cash — 17,926 — 17,926 2,747 — 13,164,736 — 13,164,736 2,017,584 Fair Value Measurement at Quoted Prices Significant Other Unobservable Fair Value at December RMB RMB RMB RMB Cash equivalents Time deposits — 738,112 — 738,112 Short-term investments Term deposits — 2,577,905 — 2,577,905 Adjustable-rate financial products — 8,228,907 — 8,228,907 Restricted cash — 5,200 — 5,200 Other non-current Warrant — — 31,393 31,393 — 11,550,124 31,393 11,581,517 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Schedule of Analysis of Allowance for Doubtful Accounts | An analysis of the allowance for doubtful accounts is as follows: Year ended December 31, 2019 2020 RMB RMB US$ Beginning balance 3,589 33,989 5,209 Additions charged to bad debt expense 37,141 104,434 16,005 Reversal (465 ) (8,751 ) (1,341 ) Write off (6,276 ) (1,473 ) (226 ) Ending balance 33,989 128,199 19,647 |
Schedule of Accounts Receivable and Allowance for Doubtful Accounts | Accounts receivable and allowance for doubtful accounts consist of the following: As of December 31, 2019 2020 RMB RMB US$ Accounts receivable 3,265,475 3,252,396 498,451 Allowance for doubtful accounts (33,989 ) (128,199 ) (19,647 ) Total 3,231,486 3,124,197 478,804 |
Prepaid Expenses and Other Cu_2
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following: As of December 31, 2019 2020 RMB RMB US$ Prepayments (a) 216,809 299,154 45,847 Rental and other deposits 19,329 10,867 1,665 Interest receivable 18,269 114,726 17,583 Staff advances 4,040 2,070 317 Receivables from third-party payment platform 10,348 86,777 13,299 Other receivables 33,490 49,588 7,600 302,285 563,182 86,311 (a) Prepayments primarily include prepaid VAT and surcharges, prepaid promotional expenses and service fee. |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income before Income/(Loss) Tax Expenses | The Group had minimal operations in jurisdictions other than the PRC. Income/(loss) before income tax expense consists of: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ PRC 3,197,471 3,647,316 3,770,148 577,800 Non - 43,950 53,690 (101,636 ) (15,578 ) 3,241,421 3,701,006 3,668,512 562,222 |
Income Tax Expense | The income tax expense is comprised of: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Current 275,779 355,398 283,372 43,429 Deferred 102,111 144,963 (22,427 ) (3,437 ) 377,890 500,361 260,945 39,992 |
Reconciliation of Income Tax Expense | The reconciliation of income tax expense for the years ended December 31, 2018, 2019 and 2020 is as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Income before income tax expense 3,241,421 3,701,006 3,668,512 562,222 Income tax expense computed at PRC statutory tax rates (25%) 810,355 925,253 917,128 140,556 Non-deductible 49,117 27,333 22,063 3,381 Research and development expenses super-deduction (89,796 ) (194,000 ) (225,715 ) (34,592 ) Change in valuation allowances (15,285 ) 16,420 (5,285 ) (810 ) Outside basis difference 8,481 (7,727 ) 142 22 Effect of international tax rate difference (10,988 ) (14,440 ) 8,682 1,331 Effect of preferential tax rate (373,994 ) (323,534 ) (463,819 ) (71,083 ) Effect of withholding tax on dividend — 71,056 76,610 11,741 Other adjustments (Note) — — (68,861 ) (10,554 ) Income tax expense 377,890 500,361 260,945 39,992 Note: This amount represents tax savings relating to share-based compensation exercised in 2019, which can be deducted when the Company did tax filing according to income tax guidance adopted in 2020. |
Components of Deferred Taxes | The significant components of deferred taxes are as follows: As of December 31, 2019 2020 RMB RMB US$ Deferred tax assets Allowance for doubtful accounts 7,592 22,343 3,424 Accrued staff cost and expenses 12,669 42,091 6,451 Deferred revenue 11,051 11,214 1,719 Tax losses (Note) 52,411 404,178 61,943 VAT refund 351 2,032 311 Less: Valuation allowances (56,292 ) (402,197 ) (61,639 ) Total deferred tax assets 27,782 79,661 12,209 Deferred tax liabilities Identifiable intangible assets arising from acquisition — 63,570 9,743 Intangible assets and internally-developed software 15,691 39,306 6,024 Outside basis difference and others 451,740 452,023 69,275 Withholding income tax 71,056 76,610 11,741 Total deferred tax liabilities 538,487 631,509 96,783 Note: Upon the acquisition of TTP on December 31, 2020, the Group recorded deferred tax assets due to tax losses and related valuation allowance by approximately RMB 355,730 54,518 355,730 54,518 |
Schedule of Unrecognized Tax Benefits | A roll-forward of unrecognized tax benefits is as follows: Year ended December 31, 2019 2020 RMB RMB US$ Beginning balance 11,659 8,436 1,293 Additions based on tax positions related to current year — — — Decreases based on tax positions related to prior years (3,223 ) (5,238 ) (803 ) Ending balance 8,436 3,198 490 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment consist of the following: As of December 31, 2019 2020 RMB RMB US$ At cost: Electronic equipment 525,545 647,271 99,199 Office equipment 2,057 5,841 895 Motor vehicles 4,583 7,071 1,084 Software 134,393 305,552 46,828 Leasehold improvements 46,053 96,211 14,745 712,631 1,061,946 162,751 Less: Accumulated depreciation (430,858 ) (651,865 ) (99,903 ) 281,773 410,081 62,848 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets with Definite Lives | The following tables present the Group’s intangible assets with definite lives as of the respective balance sheet dates: December 31, 2020 Gross Carrying Accumulated Net Carrying RMB RMB RMB US$ Technologies 202,100 — 202,100 30,973 Trademarks 175,309 (56,993 ) 118,316 18,133 Customer relationship 46,900 (5,600 ) 41,300 6,330 Websites 27,000 (27,000 ) — — Domain names 2,237 (2,012 ) 225 34 Database 73,500 — 73,500 11,264 Licensing agreements 2,870 (2,579 ) 291 44 Insurance brokerage license 28,133 (23,444 ) 4,689 719 558,049 (117,628 ) 440,421 67,497 December 31, 2019 Gross Carrying Accumulated Net RMB RMB RMB Trademarks 68,380 (52,439 ) 15,941 Customer relationship 9,050 (9,050 ) — Websites 27,000 (27,000 ) — Domain names 2,023 (1,940 ) 83 Licensing agreements 2,670 (2,670 ) — Insurance brokerage license 28,133 (16,411 ) 11,722 137,256 (109,510 ) 27,746 |
Schedule of Annual Estimated Amortization Expenses for Acquired Intangible Assets | The annual estimated amortization expenses for the acquired intangible assets for each of the next five years are as follows 2021 2022 2023 2024 2025 RMB RMB RMB RMB RMB Amortization expenses 83,475 78,779 76,404 74,095 74,095 |
Other Non-current Assets (Table
Other Non-current Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block Abstract | |
Schedule of Other Non-Current Assets | Other non-current As of December 31, 2019 2020 RMB RMB US$ Convertible bond (a) 757,864 — — Warrant (a) 31,393 — — Operating lease right-of-use 81,055 209,339 32,083 Others 4,219 49,365 7,564 874,531 258,704 39,647 |
Estimated Fair Value of Call Option | To estimate the fair value of the warrant, Black-Scholes Option Pricing Model was used in the valuation, with the following assumptions: As of December 31, 2019 2020 Risk-free interest rate 1.6% 0.14% Exercise price US$65,000 US$65,000 Dividend yield 0.00% 0.00% Expected time to exercise (years) 1.4 0.44 Asset volatility 28.0% 32.0% |
Accrued Expenses and Other Pa_2
Accrued Expenses and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Payables and Accruals [Abstract] | |
Components of Accrued Expenses and Other Payables | The components of accrued expenses and other payables are as follows: As of December 31, 2019 2020 RMB RMB US$ VAT and surcharges payable 107,770 85,372 13,084 Payroll and welfare payable 495,711 552,985 84,749 Accrued rebates 683,915 797,218 122,179 Deposit from customers 43,283 22,387 3,431 Accrued expenses 915,978 737,797 113,072 Payable for purchase of fixed assets 23,847 39,852 6,108 Professional service fees 1,969 7,074 1,084 Payable for exercise of share-based awards 15,977 38,217 5,857 Operating lease liabilities - current portion 52,781 112,094 17,178 Others 76,207 184,713 28,309 2,417,438 2,577,709 395,051 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Summary of Related Parties Relationship with Group | Name of related parties Relationship with the Group Ping An and its subsidiaries (“Ping An Group”) The Company’s controlling shareholder and its subsidiaries Mango JV An equity-method investee of the Company’s subsidiary Shanghai Visionstar An equity-method investee of the Company’s subsidiary |
Schedule of Related Party Transactions | During the years ended December 31, 2018, 2019 and 2020, related party transactions were as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Services provided to Ping An Group (a) 473,466 447,010 621,845 95,302 Services provided to other related parties 124 340 — — Net revenues from related parties 473,590 447,350 621,845 95,302 Services provided by and assets purchased from Ping An Group (b) 88,658 107,706 156,420 23,972 Services provided by and assets purchased from other related parties 10,415 15,717 5,625 862 Services provided by related parties 99,073 123,423 162,045 24,834 Interest income from Ping An Group 50,968 47,459 63,558 9,741 |
Balances with Related Parties | As of December 31, 2019 and December 31, 2020, balances with related parties were as follows: As of December 31, 2019 2020 RMB RMB US$ Amounts due from related parties, current Ping An Group (c) 29,489 47,303 7,250 Mango JV 12 — — 29,501 47,303 7,250 Amounts due from related parties, non-current Ping An Group (c) 4,509 18,163 2,784 Amounts due to related parties Ping An Group (d) 26,155 76,048 11,655 Mango JV 507 14 2 Shanghai Visionstar 9,725 3,833 587 36,387 79,895 12,244 (a) The amount represents the commission fee for transaction facilitation service on financial product including loan and insurance products, advertising services and technical services provided to Ping An Group. (b) The amount represents rental and property management services, technical services, other miscellaneous services and assets provided by Ping An Group. (c) Receivable from Ping An Group primarily consists of deposit in relation to the operating lease and other agreements, service fee receivable, and interest receivable from cash and cash equivalents and short-term investments held at Ping An Group. As of December 31, and restricted cash (d) The outstanding payable to Ping An Group primarily consists of payable for provision of services related to business operation, IDC service fee and other miscellaneous services. |
Cost of Revenues (Tables)
Cost of Revenues (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Cost of Revenue [Abstract] | |
Schedule of Cost of Revenues | Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Content-related costs 441,459 633,042 720,465 110,416 Depreciation and amortization 41,600 31,169 29,889 4,581 Bandwidth and internet data center 105,313 106,146 113,858 17,450 Tax surcharges 231,916 189,935 96,958 14,859 820,288 960,292 961,170 147,306 |
Earnings Per Share_ADS (Tables)
Earnings Per Share/ADS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Earnings Per Share | Basic and diluted earnings per share for each of the years presented are calculated as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Basic earnings per share: Numerator: Net income attributable to Autohome Inc. 2,871,015 3,199,966 3,405,229 521,872 Denominator: Weighted average ordinary shares outstanding 470,687,884 474,328,384 477,467,268 477,467,268 Basic earnings per share (Note) 6.10 6.75 7.13 1.09 Diluted earnings per share: Numerator: Net income attributable to Autohome Inc. 2,871,015 3,199,966 3,405,229 521,872 Denominator: Weighted average ordinary shares outstanding 470,687,884 474,328,384 477,467,268 477,467,268 Dilutive effect of share-based awards 6,253,632 3,732,604 2,219,112 2,219,112 Weighted average number of shares outstanding-diluted 476,941,516 478,060,988 479,686,380 479,686,380 Diluted earnings per share (Note) 6.02 6.69 7.10 1.09 Earnings per ADS Net income per ADS – basic (RMB ) 24.40 26.99 28.53 4.37 Net income per ADS – diluted (RMB ) 24.08 26.77 28.40 4.35 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Company's Employee Share Option Activity | The following table summarizes the Company’s employee share option activity under the share option plans: Number of Weighted Weighted Weighted Aggregate Outstanding, January 1, 2020 877,393 45.30 34.14 7.61 30,729 Granted 130,548 84.59 40.52 Exercised (460,222 ) 33.15 Forfeite d (35,929 ) 51.56 Outstanding, December 31, 2020 511,790 63.83 41.10 7.54 18,910 Vested and expected to vest at December 31, 2020 489,476 62.24 41.00 7.40 18,296 Exercisable as of December 31, 2020 201,517 47.43 35.87 6.36 10,518 |
Schedule of Restricted Shares Activity | Restricted shares activity for the year ended December 31, 2020 was as follows: Number Weighted Outstanding, January 1, 2020 1,005,290 65.73 Granted 467,115 85.44 Vested (417,998 ) 53.07 Forfeited (201,076 ) 61.48 Outstanding, December 31, 2020 853,331 79.88 Expected to vest, December 31, 2020 655,199 79.47 |
Schedule of Estimated Fair Value of Share-Based Awards on Respective Grant Dates using Binomial Option Pricing Model | The Company calculated the estimated fair value of the share-based awards on the respective grant dates using the binomial option pricing model with the following assumptions: 2018 2019 2020 Fair value of ordinary share US$63.91-US$98.31 US$87.39 US$77.32-US$94.46 Risk-free interest rates 2.42%-3.09% 1.96% 0.62%-1.92% Expected exercise multiple 2.2-2.8 2.2 2.2-2.8 Expected volatility 52%-60% 53% 52%-53% Expected dividend yield 0.00% 0.00% 1.00% Weighted average fair value per option granted US$40.71-US$78.09 US$45.26 US$30.00-US$44.69 |
Schedule of Share-Based Compensation Expenses | Share-based compensation expenses relating to options and restricted shares granted to employees recognized for the years ended December 31, 2018, 2019 and 2020 is as follows: Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Cost of revenues 16,112 15,508 21,372 3,276 Sales and marketing expenses 61,599 46,081 40,103 6,146 General and administrative expenses 55,992 62,884 55,868 8,562 Product development expenses 68,622 79,535 93,863 14,385 202,325 204,008 211,206 32,369 |
Acquisition (Tables)
Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The purchase price allocation as the date of the acquisition is as follows: Amount Amortization RMB’000 Intangible assets - Technologies 202,100 5 years - Trademarks 106,900 10 years - Customer relationship 41,300 5 years - Database 73,500 5 years Goodwill 2,567,113 Net liabilities acquired, excluding intangible assets and the related deferred tax liabilitie s (861,918 ) Deferred tax liabilities (63,570 ) Noncontrolling interests (147,639 ) Convertible redeemable (1,056,237 ) 861,549 |
Schedule of Business Acquisitions, by Acquisition | Total purchase price for the acquisition comprised of: Amount RMB’000 Total Cash consideration 935,932 Less: consideration for New Warrant (74,383 ) Purchase consideration 861,549 |
Condensed Financial Informati_2
Condensed Financial Information of the Parent Company (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheets | CONDENSED BALANCE SHEETS As of December 31, 2019 2020 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 308,354 281,379 43,123 Prepaid expenses and other current assets 33,723 815,934 125,048 Total current assets 342,077 1,097,313 168,171 Non-current Other non-current 789,542 — — Investment in subsidiaries and VIEs 13,522,962 16,540,687 2,534,971 Total non-current 14,312,504 16,540,687 2,534,971 Total assets 14,654,581 17,638,000 2,703,142 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities : Accrued expenses and other payables 25,484 12,266 1,880 Total current liabilities 25,484 12,266 1,880 Total liabilities 25,484 12,266 1,880 Commitments and Contingencies Shareholders’ equity: Ordinary shares (par value of US$0.0025 per share; ordinary shares authorized; 475,706,748 and 479,219,628 ordinary s outstanding, as of December 31, 2019 and 2020, respectively) (Note) 8,029 8,089 1,240 Additional paid-in 3,774,373 4,089,763 626,784 Accumulated other comprehensive income 148,415 62,295 9,547 Retained earnings 10,698,280 13,465,587 2,063,691 Total shareholders’ equity 14,629,097 17,625,734 2,701,262 Total liabilities and shareholders’ equity 14,654,581 17,638,000 2,703,142 |
Condensed Statements of Comprehensive Income | CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Operating expenses: General and administrative expenses (14,797 ) (14,757 ) (21,109 ) (3,235 ) Operating losses (14,797 ) (14,757 ) (21,109 ) (3,235 ) Interest income 45,023 79,628 80,574 12,349 Fair value change of other current and non-current (11,017 ) (5,442 ) (15,658 ) (2,400 ) Share of income of subsidiaries and VIEs 2,851,806 3,140,537 3,361,422 515,158 Income before income taxes 2,871,015 3,199,966 3,405,229 521,872 Income tax expense — — — — Net income 2,871,015 3,199,966 3,405,229 521,872 Other comprehensive (loss)/income, net of tax of nil Foreign currency translation adjustments 58,421 20,040 (86,120 ) (13,198 ) Comprehensive income 2,929,436 3,220,006 3,319,109 508,674 |
Condensed Statements of Cash Flows | CONDENSED STATEMENTS OF CASH FLOWS Year ended December 31, 2018 2019 2020 RMB RMB RMB US$ Net cash generated from/(used in) operating activities 14,214 (498 ) (1,188 ) (182 ) Net cash generated from investing activities 515,101 218,406 532,293 81,577 Net cash (used in)/generated from financing activities (543,968 ) 68,676 (546,967 ) (83,826 ) Effect of exchange rate changes on cash and cash equivalents and restricted cash 1,040 3,602 (11,113 ) (1,703 ) Net (decrease)/increase in cash and cash equivalents and restricted cash (13,613 ) 290,186 (26,975 ) (4,134 ) Cash and cash equivalents and restricted cash at beginning of year 31,781 18,168 308,354 47,257 Cash and cash equivalents and restricted cash at end of year 18,168 308,354 281,379 43,123 |
Organization - Additional Infor
Organization - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2013USD ($)shares | Nov. 30, 2014USD ($)shares | Dec. 31, 2020USD ($)Customershares | Dec. 31, 2019CNY (¥)shares | Dec. 31, 2018shares | Dec. 31, 2017shares | Dec. 31, 2014shares | Dec. 31, 2020CNY (¥)shares | Feb. 22, 2017 | Jun. 30, 2016 | Jun. 27, 2008 | Jun. 23, 2008 | |
Summary of Investment Holdings [Line Items] | |||||||||||||
Ordinary shares, shares issued | 479,219,628 | 475,706,748 | 479,219,628 | ||||||||||
Ordinary shares outstanding | [1] | 479,219,628 | 475,706,748 | 472,225,380 | 468,563,424 | 479,219,628 | |||||||
No of ordinary shares per Ads after division | Customer | 4 | ||||||||||||
No of ordinary shares per Ads before division | Customer | 1 | ||||||||||||
American Depositary Shares [Member] | IPO [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Newly issued shares through offering | 8,993,000 | ||||||||||||
Proceeds from issuance of shares | $ | $ 142,590 | ||||||||||||
American Depositary Shares [Member] | Follow-on offering [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Newly issued shares through offering | 2,424,801 | ||||||||||||
Proceeds from issuance of shares | $ | $ 97,344 | ||||||||||||
Class A Ordinary Shares [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Shares converted into Class A ordinary shares from Class B ordinary shares during the period | 6,964,612 | ||||||||||||
Net Revenues [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Concentration percentage | 10.00% | 10.00% | 10.00% | ||||||||||
VIE Structure Concentration Risk [Member] | Net Revenues [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Concentration percentage | 8.10% | 8.30% | 9.30% | ||||||||||
VIE Structure Concentration Risk [Member] | Assets, Total [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Concentration percentage | 8.80% | 9.60% | |||||||||||
VIE Structure Concentration Risk [Member] | Liabilities, Total [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Concentration percentage | 12.50% | 4.70% | |||||||||||
Consolidated VIEs [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Amounts due from PRC subsidiaries | $ 19,804 | ¥ 149,925 | ¥ 129,223 | ||||||||||
Inter-company balances between VIE and WFOE and Autohome HK | $ 15,846 | ¥ 86,275 | ¥ 103,393 | ||||||||||
Exclusive technical consulting and service agreements [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Extension option in agreement term | 10 years | ||||||||||||
Exclusive technical consulting and service agreements [Member] | Maximum [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Term of agreement | 30 years | ||||||||||||
Telstra Holdings Pty Ltd. [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Percentage of the company owned by parent | 55.00% | 100.00% | |||||||||||
Selling Shareholders of Cheerbright, China Topside and Norstar [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Percentage of the Company owned by selling shareholders | 45.00% | ||||||||||||
Ping An Insurance (Group) Company of China Ltd. [Member] | |||||||||||||
Summary of Investment Holdings [Line Items] | |||||||||||||
Percentage of the company owned by parent | 49.00% | 49.00% | 6.50% | 47.40% | |||||||||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Organization - Schedule of Prin
Organization - Schedule of Principal Subsidiaries of Company (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Cheerbright International Holdings, Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Jun. 13, 2006 |
Place of incorporation | British Virgin Islands |
Percentage of direct ownership by the Company | 100.00% |
Autohome E-commerce Inc. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Feb. 6, 2015 |
Place of incorporation | Cayman Islands |
Percentage of direct ownership by the Company | 100.00% |
Autohome Link Inc. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Jan. 29, 2015 |
Place of incorporation | Cayman Islands |
Percentage of direct ownership by the Company | 100.00% |
TTP Car Inc. ("TTP") [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Jun. 12, 2015 |
Place of incorporation | Cayman Islands |
Percentage of direct ownership by the Company | 49.00% |
Autohome (Hong Kong) Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Mar. 16, 2012 |
Place of incorporation | Hong Kong |
Percentage of direct ownership by the Company | 100.00% |
Autohome Link Hong Kong Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Feb. 16, 2015 |
Place of incorporation | Hong Kong |
Percentage of direct ownership by the Company | 100.00% |
Autohome Media Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Oct. 18, 2013 |
Place of incorporation | Hong Kong |
Percentage of direct ownership by the Company | 100.00% |
TTP CAR (HK) Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Jun. 23, 2015 |
Place of incorporation | Hong Kong |
Percentage of direct ownership by the Company | 49.00% |
Fetchauto Limited UK [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Oct. 8, 2019 |
Place of incorporation | United Kingdom |
Percentage of direct ownership by the Company | 100.00% |
Fetchauto Limited Ireland [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Oct. 18, 2019 |
Place of incorporation | Ireland |
Percentage of direct ownership by the Company | 100.00% |
FetchAuto GmbH [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Dec. 23, 2019 |
Place of incorporation | Germany |
Percentage of direct ownership by the Company | 100.00% |
Beijing Cheerbright Technologies Co., Ltd. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Sep. 1, 2006 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Autohome Shanghai Advertising Co., Ltd. ("Shanghai Advertising") [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Sep. 29, 2013 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Beijing Prbrownies Software Co., Ltd. (formerly known as Beijing Autohome Software Co., Ltd.) [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Nov. 12, 2013 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Beijing Autohome Technologies Co., Ltd. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Nov. 12, 2013 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Beijing Autohome Advertising Co., Ltd. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Nov. 13, 2013 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Guangzhou Autohome Advertising Co., Ltd. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Nov. 25, 2013 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Beijing Chezhiying Technology Co., Ltd. ("Chezhiying WFOE") [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | May 26, 2015 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Beijing Kemoshijie Technology Co., Ltd. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Sep. 11, 2015 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 75.00% |
Chengdu Prbrownies Software Co., Ltd. [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Sep. 30, 2016 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Guangzhou Chezhihuitong Advertising Co Ltd [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Aug. 20, 2018 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Hainan Chezhi Yitong Information Technology Company Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Aug. 20, 2018 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Tianjin Autohome Data Information Technology Company Limited [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Oct. 15, 2018 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Autohome Zhejiang Advertising Co Ltd [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Dec. 19, 2018 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 100.00% |
Shanghai Jinpai Ecommerce Co Ltd [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Jul. 31, 2015 |
Place of incorporation | PRC |
Percentage of direct ownership by the Company | 49.00% |
Organization - Schedule of VIEs
Organization - Schedule of VIEs (Detail) - Consolidated VIEs [Member] | 12 Months Ended |
Dec. 31, 2020 | |
Beijing Autohome Information Technology Co., Ltd. [Member] | |
Variable Interest Entity [Line Items] | |
Date of incorporation or acquisition | Aug. 28, 2006 |
Place of incorporation | PRC |
Beijing Shengtuo Hongyuan Information Technology Co., Ltd. [Member] | |
Variable Interest Entity [Line Items] | |
Date of incorporation or acquisition | Nov. 8, 2010 |
Place of incorporation | PRC |
Shanghai Tianhe Insurance Brokerage Co., Ltd. [Member] | |
Variable Interest Entity [Line Items] | |
Date of incorporation or acquisition | Sep. 21, 2017 |
Place of incorporation | PRC |
Shanghai Jinwu Auto Technology Consultant Co Ltd [Member] | |
Variable Interest Entity [Line Items] | |
Date of incorporation or acquisition | Sep. 20, 2007 |
Place of incorporation | PRC |
Organization - Schedule of Asse
Organization - Schedule of Assets, Liabilities, and Cash Flows of VIEs (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2020USD ($) | |
Variable Interest Entity [Line Items] | |||||
Current assets | ¥ 18,364,080 | ¥ 16,358,382 | $ 2,814,419 | ||
Non-current assets | 5,366,765 | 2,797,483 | 822,492 | ||
Total assets | 23,730,845 | 19,155,865 | 3,636,911 | ||
Accrued expenses and other payables | 2,577,709 | 2,417,438 | 395,051 | ||
Advance from customers | 127,235 | 95,636 | 19,500 | ||
Amounts due to related parties | 79,895 | 36,387 | 12,244 | ||
Total current liabilities | 4,185,683 | 3,965,903 | 641,484 | ||
Other liabilities | 104,861 | 45,534 | 16,071 | ||
Deferred tax liabilities | 631,509 | 538,487 | 96,783 | ||
Total non-current liabilities | 736,370 | 584,021 | 112,854 | ||
Total liabilities | 4,922,053 | 4,549,924 | 754,338 | ||
Net revenues | 8,658,559 | $ 1,326,981 | 8,420,751 | ¥ 7,233,151 | |
Net income/(loss) | 3,405,229 | 521,872 | 3,199,966 | 2,871,015 | |
VIEs [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Current assets | 558,442 | 375,908 | 85,585 | ||
Non-current assets | 1,653,968 | 1,607,933 | 253,482 | ||
Total assets | 2,212,410 | 1,983,841 | 339,067 | ||
Accrued expenses and other payables | 497,742 | 109,934 | 76,282 | ||
Advance from customers | 87,604 | 63,969 | 13,426 | ||
Deferred revenue | 17,644 | 18,947 | 2,704 | ||
Amounts due to related parties | 453 | ||||
Inter-company payables | 103,393 | 86,275 | 15,846 | ||
Total current liabilities | 706,383 | 279,578 | 108,258 | ||
Other liabilities | 9,054 | 12,383 | 1,387 | ||
Deferred tax liabilities | 2,677 | 7,121 | 410 | ||
Total non-current liabilities | 11,731 | 19,504 | 1,797 | ||
Total liabilities | 718,114 | 299,082 | 110,055 | ||
Net assets | 1,494,296 | 1,684,759 | $ 229,012 | ||
Net revenues | 700,608 | 107,373 | 702,040 | 673,188 | |
Net income/(loss) | 23,342 | 3,577 | (848) | 29,099 | |
Net cash generated from/(used in) operating activities | 23,147 | 3,547 | (446,358) | (224,531) | |
Net cash (used in)/generated from investing activities | 193,190 | 29,608 | 478,513 | 131,087 | |
Net cash generated from financing activities | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands | Feb. 05, 2021USD ($)$ / sharesshares | Apr. 01, 2019 | Mar. 30, 2019 | May 01, 2018 | Dec. 31, 2020CNY (¥)CustomerSegmentshares | Dec. 31, 2020USD ($)CustomerSegment | Dec. 31, 2019CNY (¥)Customershares | Dec. 31, 2019USD ($)Customer | Dec. 31, 2018CNY (¥)Customer | Dec. 31, 2018USD ($)Customer | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Jan. 01, 2019CNY (¥) | Jan. 01, 2019USD ($) | |||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Exchange rate of one US$ to RMB | 6.5250 | 6.5250 | |||||||||||||||
Goodwill | ¥ 4,071,391 | ¥ 1,504,278 | $ 623,968 | ||||||||||||||
Goodwill, impairment loss | $ 0 | $ 0 | $ 0 | ||||||||||||||
Allocated initial investment amount at fair value | ¥ | 74,383 | ||||||||||||||||
Deferred revenue, revenue recognized | ¥ 1,370,953 | 210,108 | |||||||||||||||
Contract liability | $ 0 | ||||||||||||||||
Revenue, practical expedient, remaining performance obligation | true | true | |||||||||||||||
Revenue, practical expedient, incremental cost of obtaining contract | true | true | |||||||||||||||
Advertising expenditures | ¥ 1,795,330 | $ 275,146 | 1,649,660 | ¥ 1,047,160 | |||||||||||||
Number of operating segment | Segment | 1 | 1 | |||||||||||||||
Total expenses for employee benefits | ¥ 241,951 | $ 37,081 | ¥ 344,829 | ¥ 319,491 | |||||||||||||
Foreign currency exchange rate appreciation (depreciation) | 6.70% | 6.70% | 1.20% | 1.20% | 5.40% | 5.40% | |||||||||||
Operating lease right of use asset | ¥ 209,339 | ¥ 81,055 | 32,083 | ¥ 184,849 | |||||||||||||
Operating Lease Liability | 202,708 | 75,848 | 31,065 | 176,376 | |||||||||||||
Operating lease liability current | ¥ 112,094 | 52,781 | $ 17,178 | ||||||||||||||
Weighted Average Remaining Lease Term | 1 year 9 months 3 days | 1 year 9 months 3 days | |||||||||||||||
Weighted average discount rate | 7.28% | 7.28% | |||||||||||||||
Operating leases, rental expenses | ¥ 119,855 | $ 18,369 | 72,185 | ||||||||||||||
Common stock shares value | ¥ 8,089 | [1] | ¥ 8,029 | [1] | $ 1,240 | [1] | |||||||||||
Common stock shares authorised | shares | 400,000,000,000 | 400,000,000,000 | 400,000,000,000 | 400,000,000,000 | |||||||||||||
Common stock shares par value per share | $ / shares | $ 0.0025 | $ 0.0025 | |||||||||||||||
Stock holders equity note stock split | 4-for-1 Share | 4-for-1 Share | |||||||||||||||
ADR [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Common stock shares value | $ 1,000,000,000 | ||||||||||||||||
Common stock shares authorised | shares | 400,000,000,000 | ||||||||||||||||
Common stock shares par value per share | $ / shares | $ 0.0025 | ||||||||||||||||
Stock holders equity note stock split | one ADS representing four ordinary shares | ||||||||||||||||
Accounting Standards Update 2016-02 [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Operating lease right of use asset | ¥ | 184,849 | ||||||||||||||||
Operating Lease Liability | ¥ | ¥ 176,376 | ||||||||||||||||
Operating lease liability current | $ 121,780 | ||||||||||||||||
Operating lease liability noncurrent | $ 54,596 | ||||||||||||||||
T- T- P- Car Inc [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Consideration of Investment as convertible bond | $ 100,000 | ||||||||||||||||
Additional principal amount which the group have the right to purchase | $ 65,000 | $ 65,000 | |||||||||||||||
Convertible bond, interest rate | 8.00% | 8.00% | |||||||||||||||
Investments as convertible bond, closing term | 3 years | 3 years | |||||||||||||||
Allocated initial investment amount at fair value | $ 100,000 | ||||||||||||||||
Net Revenues [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Concentration risk percentage | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |||||||||||
Other income, net | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Government grants | ¥ 210,022 | $ 32,187 | ¥ 147,694 | ¥ 45,190 | |||||||||||||
Vat Refunds | 218,412 | $ 33,473 | 293,008 | ¥ 289,326 | |||||||||||||
Credit Concentration Risk [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Cash and cash equivalents, restricted cash and term deposits | ¥ 14,647,324 | ¥ 12,800,310 | $ 2,244,801 | ||||||||||||||
Customer Concentration Risk [Member] | Net Revenues [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Number of customers represented greater than 10% | Customer | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Beijing Prbrownies Software Co., Ltd. | Other income, net | Maximum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax refund rate | 14.00% | 10.00% | 10.00% | ||||||||||||||
Beijing Prbrownies Software Co., Ltd. | Other income, net | Minimum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax refund rate | 13.00% | ||||||||||||||||
Chengdu Prbrownies Software Co., Ltd. [Member] | Other income, net | Maximum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax refund rate | 14.00% | 10.00% | 10.00% | ||||||||||||||
Chengdu Prbrownies Software Co., Ltd. [Member] | Other income, net | Minimum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax refund rate | 13.00% | ||||||||||||||||
Tianjin Autohome Data Information Technology Company Limited [Member] | Other income, net | Maximum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax refund rate | 10.00% | 10.00% | |||||||||||||||
Leads Generation Services [Member] | Beijing Prbrownies Software Co., Ltd. | Other income, net | Maximum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax rate | 13.00% | ||||||||||||||||
Value added tax refund rate | 3.00% | 3.00% | |||||||||||||||
Leads Generation Services [Member] | Beijing Prbrownies Software Co., Ltd. | Other income, net | Minimum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax rate | 16.00% | ||||||||||||||||
Leads Generation Services [Member] | Chengdu Prbrownies Software Co., Ltd. [Member] | Other income, net | Maximum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax rate | 17.00% | 13.00% | 13.00% | ||||||||||||||
Value added tax refund rate | 3.00% | 3.00% | |||||||||||||||
Leads Generation Services [Member] | Chengdu Prbrownies Software Co., Ltd. [Member] | Other income, net | Minimum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax rate | 16.00% | ||||||||||||||||
Leads Generation Services [Member] | Tianjin Autohome Data Information Technology Company Limited [Member] | Other income, net | Maximum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax rate | 13.00% | 13.00% | |||||||||||||||
Value added tax refund rate | 3.00% | 3.00% | |||||||||||||||
Leads Generation Services [Member] | Tianjin Autohome Data Information Technology Company Limited [Member] | Other income, net | Minimum [Member] | |||||||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | |||||||||||||||||
Value added tax rate | 16.00% | ||||||||||||||||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Accounting Policies [Abstract] | ||||||
Cash and cash equivalents | ¥ 1,751,222 | $ 268,387 | ¥ 1,988,298 | ¥ 211,970 | ||
Restricted cash | 17,926 | 2,747 | 5,200 | 5,000 | ||
Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows | ¥ 1,769,148 | $ 271,134 | ¥ 1,993,498 | $ 305,516 | ¥ 216,970 | ¥ 911,588 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | Shorter of lease term or the estimated useful lives of the assets |
Minimum [Member] | Electric Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 3 years |
Minimum [Member] | Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 3 years |
Minimum [Member] | Motor Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 4 years |
Minimum [Member] | Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 3 years |
Maximum [Member] | Electric Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 5 years |
Maximum [Member] | Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 5 years |
Maximum [Member] | Motor Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 5 years |
Maximum [Member] | Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated useful life | 5 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Intangible Assets (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 1 year 9 months |
Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 15 years |
Trademarks [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 3 years |
Trademarks [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 15 years |
Technologies [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 5 years |
Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 5 years |
Websites [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 4 years |
Domain Names [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 4 years |
Domain Names [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 10 years |
Licensing Agreements [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 1 year 9 months |
Insurance Brokerage License [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 4 years |
Database [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible assets, Estimated useful life | 5 years |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Schedule Of Operating Lease In Its Unaudited Consolidated Balance Sheet (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Jan. 01, 2019CNY (¥) |
Operating lease ROU assets | ¥ 209,339 | $ 32,083 | ¥ 81,055 | ¥ 184,849 |
Operating lease liabilities, current portion | 112,094 | 17,178 | 52,781 | |
Other non-current assets [Member] | ||||
Operating lease ROU assets | 209,339 | 32,083 | 81,055 | |
Accrued expenses and other payables [Member] | ||||
Operating lease liabilities, current portion | 112,094 | 17,178 | 52,781 | |
Other liabilities [Member] | ||||
Operating lease liabilities, non-current portion | ¥ 90,614 | $ 13,887 | ¥ 23,067 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Schedule of Lease Cost (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Operating lease cost | ¥ 108,904 | $ 16,690 | ¥ 122,427 |
Cost of revenues and operating expenses [Member] | |||
Operating lease cost | 117,479 | 18,004 | 128,507 |
Cost of other leases with terms less than one year | ¥ 66,253 | $ 10,154 | ¥ 38,229 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Summary Of Maturities Of Lease Liabilities Under Operating Leases (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Jan. 01, 2019CNY (¥) |
2020 | ¥ 54,091 | |||
2021 | ¥ 120,527 | $ 18,472 | 19,963 | |
2022 | 87,260 | 13,373 | 4,719 | |
2023 | 17,596 | 2,697 | 0 | |
2024 | 1,005 | 154 | ||
2025 | 200 | 31 | ||
Total lease payment | 226,588 | 34,727 | 78,773 | |
Less imputed interest | (23,880) | (3,662) | (2,925) | |
Total | ¥ 202,708 | $ 31,065 | ¥ 75,848 | ¥ 176,376 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets Measured at Fair Value on Recurring Basis (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other non-current assets | ¥ 258,704 | $ 39,647 | ¥ 874,531 |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Restricted cash | 17,926 | 2,747 | 5,200 |
Assets measured at fair value on recurring basis | 13,164,736 | 2,017,584 | 11,581,517 |
Fair Value, Measurements, Recurring [Member] | Time Deposits [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash equivalents | 268,634 | 41,170 | 738,112 |
Fair Value, Measurements, Recurring [Member] | Term Deposits [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Short-term investments | 7,286,100 | 1,116,644 | 2,577,905 |
Fair Value, Measurements, Recurring [Member] | Adjustable-Rate Financial Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Short-term investments | 5,592,076 | $ 857,023 | 8,228,907 |
Fair Value, Measurements, Recurring [Member] | Warrant [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other non-current assets | 31,393 | ||
Fair Value Measurement Using Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Restricted cash | 17,926 | 5,200 | |
Assets measured at fair value on recurring basis | 13,164,736 | 11,550,124 | |
Fair Value Measurement Using Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Time Deposits [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash equivalents | 268,634 | 738,112 | |
Fair Value Measurement Using Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Term Deposits [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Short-term investments | 7,286,100 | 2,577,905 | |
Fair Value Measurement Using Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Adjustable-Rate Financial Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Short-term investments | ¥ 5,592,076 | 8,228,907 | |
Fair Value Measurement Using Inputs Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value on recurring basis | 31,393 | ||
Fair Value Measurement Using Inputs Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Warrant [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other non-current assets | ¥ 31,393 |
Accounts Receivable, Net - Sche
Accounts Receivable, Net - Schedule of Accounts Receivable and Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) |
Receivables [Abstract] | |||||
Accounts receivable | ¥ 3,252,396 | $ 498,451 | ¥ 3,265,475 | ||
Allowance for doubtful accounts | (128,199) | (19,647) | (33,989) | $ (5,209) | ¥ (3,589) |
Total | ¥ 3,124,197 | $ 478,804 | ¥ 3,231,486 |
Accounts Receivable, Net - Sc_2
Accounts Receivable, Net - Schedule of Analysis of Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Receivables [Abstract] | |||
Beginning balance | ¥ 33,989 | $ 5,209 | ¥ 3,589 |
Additions charged to bad debt expense | 104,434 | 16,005 | 37,141 |
Reversal | (8,751) | (1,341) | (465) |
Write off | (1,473) | (226) | (6,276) |
Ending balance | ¥ 128,199 | $ 19,647 | ¥ 33,989 |
Accounts Receivable, Net - Addi
Accounts Receivable, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Additions to allowance for doubtful accounts | ¥ 95,683 | $ 14,664 | ¥ 36,676 | ¥ 2,215 |
General and Administrative Expenses [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Additions to allowance for doubtful accounts | ¥ 95,683 | $ 14,664 | ¥ 36,676 | ¥ 2,215 |
Prepaid Expenses and Other Cu_3
Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||||
Prepayments | [1] | ¥ 299,154 | $ 45,847 | ¥ 216,809 |
Rental and other deposits | 10,867 | 1,665 | 19,329 | |
Interest receivable | 114,726 | 17,583 | 18,269 | |
Staff advances | 2,070 | 317 | 4,040 | |
Receivables from third-party payment platform | 86,777 | 13,299 | 10,348 | |
Other receivables | 49,588 | 7,600 | 33,490 | |
Prepaid expenses and other current assets | ¥ 563,182 | $ 86,311 | ¥ 302,285 | |
[1] | Prepayments primarily include prepaid VAT and surcharges, prepaid promotional expenses and service fee. |
Taxation - Additional Informati
Taxation - Additional Information (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands, $ in Millions | Nov. 04, 2019 | Apr. 01, 2018HKD ($) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020CNY (¥)¥ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019CNY (¥)¥ / shares | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥)¥ / shares | Dec. 31, 2018USD ($) | Dec. 31, 2017 | Dec. 31, 2020USD ($) |
Income Tax Contingency [Line Items] | |||||||||||||
Income tax expense | ¥ 260,945 | $ 39,992 | ¥ 500,361 | ¥ 377,890 | |||||||||
Current income tax expense | 283,372 | 43,429 | 355,398 | 275,779 | |||||||||
Deferred income tax expense | ¥ (22,427) | $ (3,437) | ¥ 144,963 | ¥ 102,111 | |||||||||
Effect of preferential tax rate, basic earning per ADS | (per share) | ¥ 0.97 | $ 0.15 | ¥ 0.68 | ¥ 0.80 | |||||||||
Withholding tax on dividend payment | ¥ 76,610 | $ 11,741 | ¥ 71,056 | ¥ 0 | |||||||||
Undistributed earnings from PRC Subsidiaries | 13,674,190 | 11,061,788 | $ 1,964,174 | ||||||||||
Liability for uncertainty in income taxes, Noncurrent | 17,805 | 22,467 | 2,729 | ||||||||||
Unrecognized tax benefits net basis against the deferred tax assets related to tax loss carryforwards | ¥ | 0 | 0 | |||||||||||
Unrecognized tax benefits that would impact effective tax rate | 3,198 | 8,436 | 490 | ||||||||||
Interest expense relating to unrecognized tax benefits | 0 | $ 0 | $ 0 | ||||||||||
Penalties related to unrecognized tax benefits | $ 0 | $ 0 | $ 0 | ||||||||||
Interest expense relating to tax expense | ¥ 11,049 | 14,031 | $ 1,693 | ||||||||||
Dividend declared percent on net income | 20.00% | ||||||||||||
Estimated preferential tax rate with HNTE qualification | 15.00% | 15.00% | |||||||||||
Estimated tax rate without HNTE qualification | 25.00% | 25.00% | |||||||||||
Statutory Income Tax Rate, Amount | ¥ 917,128 | $ 140,556 | 925,253 | ¥ 810,355 | |||||||||
Income tax dividend rate | 10.00% | 10.00% | |||||||||||
Dividend Declared [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Withholding tax on dividend payment | ¥ | ¥ 76,610 | ¥ 71,056 | |||||||||||
VIEs [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Enterprise income tax rate | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |||||||
Earliest Tax Year [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Tax year that remains open to examination under enacted tax laws | 2016 | 2016 | |||||||||||
Latest Tax Year [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Tax year that remains open to examination under enacted tax laws | 2020 | 2020 | |||||||||||
Hong Kong [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 16.50% | 16.50% | |||||||||||
Hong Kong [Member] | Maximum [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 16.50% | ||||||||||||
Hong Kong [Member] | Minimum [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 8.25% | ||||||||||||
Hong Kong [Member] | Subsidiaries [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 16.50% | 16.50% | |||||||||||
Income tax expense | $ 0 | $ 0 | $ 0 | ||||||||||
Hong Kong [Member] | Shanghai You Che You Jia Financing Co., Ltd | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Percentage of disposal of shareholder | 25.00% | 25.00% | |||||||||||
Hong Kong [Member] | Two Tired Profits Tax Regime [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory Income Tax Rate, Amount | $ 2 | ||||||||||||
China [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |||||||
Effect of change in enacted tax rate | ¥ 331,952 | $ 50,874 | ¥ 150,714 | ¥ 117,470 | |||||||||
Current income tax expense | 371,826 | 56,985 | 151,645 | 118,996 | |||||||||
Deferred income tax expense | 39,874 | $ 6,111 | ¥ 931 | ¥ 1,526 | |||||||||
Net tax operating losses | ¥ 1,618,888 | $ 248,105 | |||||||||||
Net tax operating losses expiration year | 2021 | 2021 | |||||||||||
Withholding income tax rate on dividends distributed by FIEs | 10.00% | 10.00% | |||||||||||
China [Member] | Chengdu Prbrownies Software Co., Ltd. [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | 25.00% | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | 50.00% | 50.00% | |||||||||
China [Member] | Chengdu Prbrownies Software Co., Ltd. [Member] | Forecast [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | ||||||||||||
Reduction in statutory income tax rate | 50.00% | ||||||||||||
China [Member] | Chezhiying WFOE [Member] | Forecast [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | 25.00% | 25.00% | ||||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | 50.00% | ||||||||||
China [Member] | Hainan Chezhiyitong Information Technology Co., Ltd. [Member] | Forecast [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | 25.00% | 25.00% | ||||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | 50.00% | ||||||||||
China [Member] | Tianjin Autohome Data Information Technology Co., Ltd. [Member] | Forecast [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | 25.00% | 25.00% | ||||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | 50.00% | ||||||||||
China [Member] | High-New Technology Enterprise [Member] | Beijing Autohome Technologies Co., Ltd. [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Preferential statutory tax rate | 15.00% | 15.00% | |||||||||||
China [Member] | High-New Technology Enterprise [Member] | Chengdu Prbrownies Software Co., Ltd. [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Preferential statutory tax rate | 10.00% | 10.00% | |||||||||||
China [Member] | High-New Technology Enterprise [Member] | Autohome WFOE [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Preferential statutory tax rate | 15.00% | 15.00% | |||||||||||
China [Member] | High-New Technology Enterprise [Member] | Chezhiying WFOE [Member] | Forecast [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Preferential statutory tax rate | 15.00% | ||||||||||||
China [Member] | Eligible key software enterprises [Member] | Beijing Autohome Technologies Co., Ltd. [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Enterprise income tax rate | 10.00% | 10.00% | 10.00% | ||||||||||
Preferential Enterprise Income Tax Rate | 10.00% | 10.00% | |||||||||||
China [Member] | Eligible key software enterprises [Member] | Beijing Prbrownies Software Co., Ltd. (formerly known as Beijing Autohome Software Co., Ltd.) [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Enterprise income tax rate | 10.00% | 10.00% | 10.00% | ||||||||||
Preferential Enterprise Income Tax Rate | 10.00% | 10.00% | |||||||||||
China [Member] | Eligible key software enterprises [Member] | Autohome WFOE [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Enterprise income tax rate | 10.00% | 10.00% | 10.00% | ||||||||||
Preferential Enterprise Income Tax Rate | 10.00% | 10.00% | |||||||||||
China [Member] | Reduction in Taxes [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Withholding income tax rate on dividends distributed by FIEs | 5.00% | 5.00% | |||||||||||
China [Member] | VIEs [Member] | |||||||||||||
Income Tax Contingency [Line Items] | |||||||||||||
Statutory EIT rate | 25.00% | 25.00% |
Taxation - Income before Income
Taxation - Income before Income/(Loss) Tax Expenses (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Income/(Loss) from Domestic and Foreign Components Before Income Tax Expenses [Abstract] | ||||
PRC | ¥ 3,770,148 | $ 577,800 | ¥ 3,647,316 | ¥ 3,197,471 |
Non PRC | (101,636) | (15,578) | 53,690 | 43,950 |
Income before income taxes | ¥ 3,668,512 | $ 562,222 | ¥ 3,701,006 | ¥ 3,241,421 |
Taxation - Income Tax Expense (
Taxation - Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
Current | ¥ 283,372 | $ 43,429 | ¥ 355,398 | ¥ 275,779 |
Deferred | (22,427) | (3,437) | 144,963 | 102,111 |
Income tax expense | ¥ 260,945 | $ 39,992 | ¥ 500,361 | ¥ 377,890 |
Taxation - Reconciliation of In
Taxation - Reconciliation of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | ||
Income Tax Disclosure [Abstract] | |||||
Income before income tax expense | ¥ 3,668,512 | $ 562,222 | ¥ 3,701,006 | ¥ 3,241,421 | |
Income tax expense computed at PRC statutory tax rates (25%) | 917,128 | 140,556 | 925,253 | 810,355 | |
Non-deductible expenses | 22,063 | 3,381 | 27,333 | 49,117 | |
Research and development expenses super - deduction | (225,715) | (34,592) | (194,000) | (89,796) | |
Change in valuation allowances | (5,285) | (810) | 16,420 | (15,285) | |
Outside basis difference | 142 | 22 | (7,727) | 8,481 | |
Effect of international tax rate difference | 8,682 | 1,331 | (14,440) | (10,988) | |
Effect of preferential tax rate | (463,819) | (71,083) | (323,534) | (373,994) | |
Effect of withholding tax on dividend | 76,610 | 11,741 | 71,056 | 0 | |
Other adjustments | [1] | (68,861) | (10,554) | ||
Income tax expense | ¥ 260,945 | $ 39,992 | ¥ 500,361 | ¥ 377,890 | |
[1] | This amount represents tax savings relating to share-based compensation exercised in 2019, which can be deducted when the Company did tax filing according to income tax guidance adopted in 2020. |
Taxation - Reconciliation of _2
Taxation - Reconciliation of Income Tax Expense (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
China [Member] | |||
Income Tax Contingency [Line Items] | |||
Percentage of PRC income tax | 25.00% | 25.00% | 25.00% |
Taxation - Components of Deferr
Taxation - Components of Deferred Taxes (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Deferred tax assets | ||||
Allowance for doubtful accounts | ¥ 22,343 | $ 3,424 | ¥ 7,592 | |
Accrued staff cost and expenses | 42,091 | 6,451 | 12,669 | |
Deferred revenue | 11,214 | 1,719 | 11,051 | |
Tax losses | [1] | 404,178 | 61,943 | 52,411 |
VAT refund | 2,032 | 311 | 351 | |
Less: Valuation allowances | (402,197) | (61,639) | (56,292) | |
Total deferred tax assets | 79,661 | 12,209 | 27,782 | |
Deferred tax liabilities | ||||
Identifiable intangible assets arising from acquisition | 63,570 | 9,743 | ||
Intangible assets and internally-developed software | 39,306 | 6,024 | 15,691 | |
Outside basis difference and others | 452,023 | 69,275 | 451,740 | |
Withholding income tax | 76,610 | 11,741 | 71,056 | |
Total deferred tax liabilities | ¥ 631,509 | $ 96,783 | ¥ 538,487 | |
[1] | Upon the acquisition of TTP on December 31, 2020, the Group recorded deferred tax assets due to tax losses and related valuation allowance by approximately RMB355,730 (US$54,518) and RMB355,730 (US$54,518), respectively. |
Taxation - Components of Defe_2
Taxation - Components of Deferred Taxes (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Business Acquisition [Line Items] | ||||
Tax losses | [1] | ¥ 404,178 | $ 61,943 | ¥ 52,411 |
Valuation allowances | 402,197 | 61,639 | ¥ 56,292 | |
TTP Car Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Tax losses | 355,730 | 54,518 | ||
Valuation allowances | ¥ 355,730 | $ 54,518 | ||
[1] | Upon the acquisition of TTP on December 31, 2020, the Group recorded deferred tax assets due to tax losses and related valuation allowance by approximately RMB355,730 (US$54,518) and RMB355,730 (US$54,518), respectively. |
Taxation - Schedule of Unrecogn
Taxation - Schedule of Unrecognized Tax Benefits (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Income Tax Disclosure [Abstract] | |||
Beginning balance | ¥ 8,436 | $ 1,293 | ¥ 11,659 |
Additions based on tax positions related to current year | |||
Decreases based on tax positions related to prior years | (5,238) | (803) | (3,223) |
Ending balance | ¥ 3,198 | $ 490 | ¥ 8,436 |
Property and Equipment, Net - S
Property and Equipment, Net - Summary of Property and Equipment (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
At cost: | |||
Property and equipment, gross | ¥ 1,061,946 | $ 162,751 | ¥ 712,631 |
Less: Accumulated depreciation | (651,865) | (99,903) | (430,858) |
Property and equipment, net | 410,081 | 62,848 | 281,773 |
Electronic Equipment [Member] | |||
At cost: | |||
Property and equipment, gross | 647,271 | 99,199 | 525,545 |
Office Equipment [Member] | |||
At cost: | |||
Property and equipment, gross | 5,841 | 895 | 2,057 |
Motor Vehicles [Member] | |||
At cost: | |||
Property and equipment, gross | 7,071 | 1,084 | 4,583 |
Software [Member] | |||
At cost: | |||
Property and equipment, gross | 305,552 | 46,828 | 134,393 |
Leasehold Improvements [Member] | |||
At cost: | |||
Property and equipment, gross | ¥ 96,211 | $ 14,745 | ¥ 46,053 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation expense | ¥ 158,229 | $ 24,250 | ¥ 106,941 | ¥ 90,270 |
Intangible Assets, Net - Schedu
Intangible Assets, Net - Schedule of Intangible Assets with Definite Lives (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | ¥ 558,049 | ¥ 137,256 | |
Accumulated Amortization | (117,628) | (109,510) | |
Net Carrying Value | 440,421 | $ 67,497 | 27,746 |
Technologies [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 202,100 | ||
Accumulated Amortization | 0 | ||
Net Carrying Value | 202,100 | 30,973 | |
Trademarks [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 175,309 | 68,380 | |
Accumulated Amortization | (56,993) | (52,439) | |
Net Carrying Value | 118,316 | 18,133 | 15,941 |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 46,900 | 9,050 | |
Accumulated Amortization | (5,600) | (9,050) | |
Net Carrying Value | 41,300 | 6,330 | 0 |
Websites [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 27,000 | 27,000 | |
Accumulated Amortization | (27,000) | (27,000) | |
Net Carrying Value | 0 | 0 | 0 |
Domain Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 2,237 | 2,023 | |
Accumulated Amortization | (2,012) | (1,940) | |
Net Carrying Value | 225 | 34 | 83 |
Database [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 73,500 | ||
Accumulated Amortization | 0 | ||
Net Carrying Value | 73,500 | 11,264 | |
Licensing Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 2,870 | 2,670 | |
Accumulated Amortization | (2,579) | (2,670) | |
Net Carrying Value | 291 | 44 | 0 |
Insurance Brokerage License [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 28,133 | 28,133 | |
Accumulated Amortization | (23,444) | (16,411) | |
Net Carrying Value | ¥ 4,689 | $ 719 | ¥ 11,722 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | ¥ 12,045 | $ 1,846 | ¥ 11,662 | ¥ 11,623 |
Minimum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful lives | 1 year 9 months | 1 year 9 months | ||
Maximum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful lives | 15 years | 15 years | ||
Continuing Operations [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | ¥ 12,045 | $ 1,846 | ¥ 11,662 | ¥ 11,623 |
Intangible Assets, Net - Sche_2
Intangible Assets, Net - Schedule of Annual Estimated Amortization Expenses for Acquired Intangible Assets (Detail) - Finite Lived Intangible Assets Future Amortization Expense [Member] ¥ in Thousands | Dec. 31, 2020CNY (¥) |
Finite-Lived Intangible Assets [Line Items] | |
2021 | ¥ 83,475 |
2022 | 78,779 |
2023 | 76,404 |
2024 | 74,095 |
2025 | ¥ 74,095 |
Long-Term Investments - Additio
Long-Term Investments - Additional Information (Detail) ¥ in Thousands, $ in Thousands | May 31, 2015CNY (¥) | Jul. 31, 2017CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2015 | Sep. 30, 2015CNY (¥) |
Schedule of Equity Method Investments [Line Items] | |||||||
Business acquisition percentage of interests acquired | 51.00% | 51.00% | |||||
Business acquisition cash consideration | ¥ 935,932 | ||||||
Visionstar Information Technology (Shanghai) Co., Ltd. [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Business acquisition percentage of interests acquired | 10.00% | ||||||
Business acquisition cash consideration | ¥ 30,000 | ||||||
Hunan Mango Autohome Automobile Sales Co Ltd [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Total capital contribution | ¥ 100,000 | ||||||
Cash consideration paid to joint venture | ¥ 49,000 | ||||||
Ownership percentage | 49.00% | ||||||
Impairment charges | 0 | ||||||
Shanghai You Che You Jia Financing Co., Ltd | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Cash consideration paid to joint venture | ¥ 75,000 | ||||||
Ownership percentage | 25.00% | ||||||
Impairment charges | 0 | ||||||
Other investments [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Carrying amount of equity method investments | ¥ 70,418 | $ 10,792 | ¥ 71,664 |
Schedule of Other Non-Current A
Schedule of Other Non-Current Assets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Jan. 01, 2019CNY (¥) |
Other Assets, Noncurrent [Abstract] | ||||
Convertible bond | ¥ 757,864 | |||
Warrant | 31,393 | |||
Operating lease right-of-use assets | 209,339 | 32,083 | 81,055 | ¥ 184,849 |
Others | 49,365 | 7,564 | 4,219 | |
Other non-current assets | ¥ 258,704 | $ 39,647 | ¥ 874,531 |
Other Non-current Assets - Addi
Other Non-current Assets - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jun. 30, 2018USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Other Noncurrent Assets [Line Items] | |||||
Fair value change on the warrant | $ 2,400 | ¥ 15,658 | ¥ 5,442 | ¥ 11,017 | |
TTP Car Inc [Member] | |||||
Other Noncurrent Assets [Line Items] | |||||
Convertible bonds, nominal interest rate | 8.00% | ||||
Consideration for convertible bond | $ 100,000 | ||||
Additional principal amount which the group have the right to purchase | $ 65,000 | ||||
Investments as convertible bond, closing term | 3 years | ||||
Convertible bond, interest rate | 8.00% |
Estimated Fair Value of Call Op
Estimated Fair Value of Call Option (Detail) | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Alternative investment, measurement input | 0.0014 | 0.016 |
Measurement Input, Exercise Price [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of call option | $ 65,000 | $ 65,000 |
Measurement Input, Expected Dividend Yield [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Alternative investment, measurement input | 0 | 0 |
Measurement Input, Expected Time to Exercise (Years) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Alternative investment, expected term | 0.44 | 1.4 |
Measurement Input, Asset Volatility [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Alternative investment, measurement input | 0.320 | 0.280 |
Accrued Expenses and Other Pa_3
Accrued Expenses and Other Payables - Components of Accrued Expenses and Other Payables (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Payables and Accruals [Abstract] | |||
VAT and surcharges payable | ¥ 85,372 | $ 13,084 | ¥ 107,770 |
Payroll and welfare payable | 552,985 | 84,749 | 495,711 |
Accrued rebates | 797,218 | 122,179 | 683,915 |
Deposit from customers | 22,387 | 3,431 | 43,283 |
Accrued expenses | 737,797 | 113,072 | 915,978 |
Payable for purchase of fixed assets | 39,852 | 6,108 | 23,847 |
Professional service fees | 7,074 | 1,084 | 1,969 |
Payable for exercise of share-based awards | 38,217 | 5,857 | 15,977 |
Operating lease liabilities - current portion | 112,094 | 17,178 | 52,781 |
Others | 184,713 | 28,309 | 76,207 |
Accrued expenses and other payables | ¥ 2,577,709 | $ 395,051 | ¥ 2,417,438 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | us-gaap:OperatingLeaseLiabilityCurrent | us-gaap:OperatingLeaseLiabilityCurrent |
Related Party Transactions - Su
Related Party Transactions - Summary of Related Parties Relationship with Group (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Ping An Group [Member] | |
Related Party Transaction [Line Items] | |
Related parties relationship with the group | The Company’s controlling shareholder and its subsidiaries |
Hunan Mango Autohome Automobile Sales Co Ltd [Member] | |
Related Party Transaction [Line Items] | |
Related parties relationship with the group | An equity-method investee of the Company’s subsidiary |
Shanghai Visionstar [Member] | |
Related Party Transaction [Line Items] | |
Related parties relationship with the group | An equity-method investee of the Company’s subsidiary |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Transactions (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | ||
Related Party Transaction [Line Items] | |||||
Related party transactions, sales | ¥ 621,845 | $ 95,302 | ¥ 447,350 | ¥ 473,590 | |
Related party transactions, service provided | 162,045 | 24,834 | 123,423 | 99,073 | |
Related party transactions, interest income | 63,558 | 9,741 | 47,459 | 50,968 | |
Ping An Group [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, interest income | 63,558 | 9,741 | 47,459 | 50,968 | |
Ping An Group [Member] | Commission Fee And Advertising Service [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, sales | [1] | 621,845 | 95,302 | 447,010 | 473,466 |
Ping An Group [Member] | Rental Property Management And Other Miscellaneous Services [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, service provided | [2] | 156,420 | 23,972 | 107,706 | 88,658 |
Other Related Parties [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, sales | 0 | 0 | 340 | 124 | |
Related party transactions, service provided | ¥ 5,625 | $ 862 | ¥ 15,717 | ¥ 10,415 | |
[1] | The amount represents the commission fee for transaction facilitation service on financial product including loan and insurance products, advertising services and technical services provided to Ping An Group. | ||||
[2] | The amount represents rental and property management services, technical services, other miscellaneous services and assets provided by Ping An Group. |
Related Party Transactions - Ba
Related Party Transactions - Balances with Related Parties (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Related Party Transaction [Line Items] | ||||
Amounts due from related parties, current | ¥ 47,303 | $ 7,250 | ¥ 29,501 | |
Amounts due from related parties, non-current | 18,163 | 2,784 | 4,509 | |
Amounts due to related parties | 79,895 | 12,244 | 36,387 | |
Ping An Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Amounts due from related parties, current | 47,303 | 7,250 | 29,489 | |
Amounts due from related parties, non-current | [1] | 18,163 | 2,784 | 4,509 |
Amounts due to related parties | [2] | 76,048 | 11,655 | 26,155 |
Hunan Mango Autohome Automobile Sales Co Ltd [Member] | ||||
Related Party Transaction [Line Items] | ||||
Amounts due from related parties, current | [1] | 0 | 0 | 12 |
Amounts due to related parties | 14 | 2 | 507 | |
Shanghai Visionstar [Member] | ||||
Related Party Transaction [Line Items] | ||||
Amounts due to related parties | ¥ 3,833 | $ 587 | ¥ 9,725 | |
[1] | Receivable from Ping An Group primarily consists of deposit in relation to the operating lease and other agreements, service fee receivable, and interest receivable from cash and cash equivalents and short-term investments held at Ping An Group. As of December 31, 2019 and 2020, the Group had cash and cash equivalents and short-term investments and restricted cash of RMB1,907,217 and RMB3,466,900 (US$ 531,326) at Ping An Group, respectively. | |||
[2] | The outstanding payable to Ping An Group primarily consists of payable for provision of services related to business operation, IDC service fee and other miscellaneous services. |
Related Party Transactions - _2
Related Party Transactions - Balances with Related Parties (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Ping An Group [Member] | |||
Related Party Transaction [Line Items] | |||
Cash and cash equivalents and short term investments | ¥ 3,466,900 | $ 531,326 | ¥ 1,907,217 |
Cost of Revenues - Schedule of
Cost of Revenues - Schedule of Cost of Revenues (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Cost of Revenue [Abstract] | ||||
Content-related costs | ¥ 720,465 | $ 110,416 | ¥ 633,042 | ¥ 441,459 |
Depreciation and amortization | 29,889 | 4,581 | 31,169 | 41,600 |
Bandwidth and internet data center | 113,858 | 17,450 | 106,146 | 105,313 |
Tax surcharges | 96,958 | 14,859 | 189,935 | 231,916 |
Cost of revenues | ¥ 961,170 | $ 147,306 | ¥ 960,292 | ¥ 820,288 |
Ordinary Shares - Additional In
Ordinary Shares - Additional Information (Detail) - shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | |||||
Number of ordinary shares outstanding | [1] | 479,219,628 | 475,706,748 | 472,225,380 | 468,563,424 |
Ordinary shares, shares issued | 479,219,628 | 475,706,748 | |||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Restricted Net Assets - Additio
Restricted Net Assets - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Restricted Net Assets [Abstract] | ||||
Percentage of after tax profits allocated to general reserve | 10.00% | |||
Percentage of maximum limit of registered capital to discontinue general reserve | 50.00% | |||
Appropriated retained earnings | ¥ 87,759 | $ 13,450 | ¥ 84,537 | ¥ 75,929 |
Restricted net assets | ¥ 15,734,456 | $ 2,411,411 | ¥ 13,311,536 |
Earnings Per Share_ADS - Schedu
Earnings Per Share/ADS - Schedule of Basic and Diluted Earnings Per Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | ||||
Numerator: | |||||||
Net income attributable to Autohome Inc. | ¥ 3,405,229 | $ 521,872 | ¥ 3,199,966 | ¥ 2,871,015 | |||
Denominator: | |||||||
Weighted average ordinary shares outstanding | [1] | 477,467,268 | 477,467,268 | 474,328,384 | 470,687,884 | ||
Basic earnings per ADS | (per share) | ¥ 7.13 | $ 1.09 | ¥ 6.75 | [1] | ¥ 6.10 | [1] | |
Numerator: | |||||||
Net income attributable to Autohome Inc. | ¥ 3,405,229 | $ 521,872 | ¥ 3,199,966 | ¥ 2,871,015 | |||
Denominator: | |||||||
Weighted average ordinary shares outstanding | [1] | 477,467,268 | 477,467,268 | 474,328,384 | 470,687,884 | ||
Dilutive effect of share-based awards | 2,219,112 | 2,219,112 | 3,732,604 | 6,253,632 | |||
Weighted average number of shares outstanding-diluted | [1] | 479,686,380 | 479,686,380 | 478,060,988 | 476,941,516 | ||
Diluted earnings per ADS | (per share) | ¥ 7.10 | $ 1.09 | ¥ 6.69 | [1] | ¥ 6.02 | [1] | |
Earnings Per Ads Attributable To Ordinary Shareholders [Abstract] | |||||||
Net income per ADS – basic | (per share) | 7.13 | 1.09 | 6.75 | [1] | 6.10 | [1] | |
Net income per ADS – diluted | (per share) | 7.10 | 1.09 | 6.69 | [1] | 6.02 | [1] | |
ADR [Member] | |||||||
Denominator: | |||||||
Basic earnings per ADS | (per share) | 28.53 | 4.37 | 26.99 | 24.40 | |||
Denominator: | |||||||
Diluted earnings per ADS | (per share) | 28.40 | 4.35 | 26.77 | 24.08 | |||
Earnings Per Ads Attributable To Ordinary Shareholders [Abstract] | |||||||
Net income per ADS – basic | (per share) | 28.53 | 4.37 | 26.99 | 24.40 | |||
Net income per ADS – diluted | (per share) | ¥ 28.40 | $ 4.35 | ¥ 26.77 | ¥ 24.08 | |||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2020Customershares | Dec. 31, 2019shares | Dec. 31, 2018shares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
No of ordinary shares per Ads after division | Customer | 4 | ||
Stock Options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive shares excluded from calculation of diluted earnings per share | 481,828 | 389,440 | 636,132 |
Stock Options [Member] | Previously Reported [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive shares excluded from calculation of diluted earnings per share | 120,457 | 97,360 | 159,033 |
Restricted Shares [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive shares excluded from calculation of diluted earnings per share | 90,536 | 714,700 | 1,019,316 |
Restricted Shares [Member] | Previously Reported [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive shares excluded from calculation of diluted earnings per share | 22,634 | 178,675 | 254,829 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2020CNY (¥)Customershares | Dec. 31, 2020USD ($)Customer$ / shares | Dec. 31, 2019$ / sharesshares | Dec. 31, 2019CNY (¥)shares | Dec. 31, 2018$ / shares | Dec. 31, 2018CNY (¥) | Dec. 31, 2020USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Closing stock price | $ / shares | $ 99.62 | ||||||
Aggregate intrinsic value of options exercised | ¥ 170,374 | $ 26,111 | ¥ 178,577 | ¥ 189,564 | |||
Weighted average fair value per option granted | $ / shares | $ 40.52 | $ 45.26 | $ 52.60 | ||||
The total grant date fair value of options vested | 58,092 | $ 8,903 | ¥ 79,197 | 63,708 | |||
Aggregate fair value of outstanding options at the grant date | ¥ 137,253 | $ 21,035 | |||||
No of ordinary shares per Ads before division | Customer | 1 | 1 | |||||
No of ordinary shares per Ads after division | Customer | 4 | 4 | |||||
Unrecognized share-based compensation expenses | ¥ 62,483 | $ 9,576 | |||||
Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted average fair value per option granted | $ / shares | $ 44.69 | 78.09 | |||||
Stock Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unvested options/restricted shares expected to be recognized over a weighted-average period | 2 years 1 month 28 days | 2 years 1 month 28 days | |||||
Stock Options [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Award vesting period | For share options and restricted shares with service condition or performance condition granted under the Plans, majority are subject to vesting schedules of approximately four years with 25% of the awards vesting each year and have a contractual term of ten years. | For share options and restricted shares with service condition or performance condition granted under the Plans, majority are subject to vesting schedules of approximately four years with 25% of the awards vesting each year and have a contractual term of ten years. | |||||
Stock Options [Member] | 2011 Plan [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based awards grant to employees, directors and consultants to purchase aggregate ordinary shares | shares | 31,372,400 | 7,843,100 | 7,843,100 | 31,372,400 | |||
Stock Options [Member] | 2013 Plan [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based awards grant to employees, directors and consultants to purchase aggregate ordinary shares | shares | 13,400,000 | 3,350,000 | 3,350,000 | 13,400,000 | |||
Stock Options [Member] | 2016 Plan [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based awards grant to employees, directors and consultants to purchase aggregate ordinary shares | shares | 19,560,000 | 4,890,000 | 4,890,000 | 19,560,000 | |||
Stock Options [Member] | 2016 Plan II [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based awards grant to employees, directors and consultants to purchase aggregate ordinary shares | shares | 12,000,000 | 3,000,000 | 3,000,000 | 12,000,000 | |||
Options and Restricted Shares [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Vesting period | 4 years | 4 years | |||||
Original contractual term | 10 years | 10 years | |||||
Options and Restricted Shares [Member] | Maximum [Member] | Awards Vesting Percentage Each Year [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage of awards vesting | 25.00% | 25.00% | |||||
Restricted Shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unvested options/restricted shares expected to be recognized over a weighted-average period | 2 years 8 months 26 days | 2 years 8 months 26 days | |||||
Aggregate fair value of the outstanding restricted shares | ¥ 444,796 | $ 68,168 | |||||
Unrecognized compensation expense | 257,855 | $ 39,518 | |||||
Weighted average grant date fair value, Granted | $ / shares | $ 85.44 | $ 85.30 | $ 91 | ||||
Grant date fair value of restricted shares vested | ¥ 144,757 | $ 22,185 | ¥ 141,227 | ¥ 106,563 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Company's Employee Share Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Number of options, Outstanding, Beginning balance | 877,393 | ||
Number of options, Granted | 130,548 | ||
Number of options, Exercised | (460,222) | ||
Number of options, Forfeited | (35,929) | ||
Number of options, Outstanding, Ending balance | 511,790 | 877,393 | |
Number of options, Vested and expected to vest, Ending balance | 489,476 | ||
Number of options, Exercisable, Ending balance | 201,517 | ||
Weighted average exercise price, Outstanding, Beginning balance | $ 45.30 | ||
Weighted average exercise price, Granted | 84.59 | ||
Weighted average exercise price, Exercised | 33.15 | ||
Weighted average exercise price, Forfeited | 51.56 | ||
Weighted average exercise price, Outstanding, Ending balance | 63.83 | $ 45.30 | |
Weighted average exercise price, Vested and expected to vest | 62.24 | ||
Weighted average exercise price, Exercisable | 47.43 | ||
Weighted average grant date fair value, Outstanding, Beginning balance | 34.14 | ||
Weighted average grant date fair value, Outstanding, Granted | 40.52 | 45.26 | $ 52.60 |
Weighted average grant date fair value, Outstanding, Ending balance | 41.10 | $ 34.14 | |
Weighted average grant date fair value, Vested or expected to vest | 41 | ||
Weighted average grant date fair value, Exercisable | $ 35.87 | ||
Weighted average remaining contractual term | 7 years 6 months 14 days | 7 years 7 months 9 days | |
Weighted average remaining contractual term, Vested and expected to vest | 7 years 4 months 24 days | ||
Weighted average remaining contractual term, Exercisable | 6 years 4 months 9 days | ||
Aggregate intrinsic value of share options, Outstanding | $ 18,910 | $ 30,729 | |
Aggregate intrinsic value of share options, Vested and expected to vest | 18,296 | ||
Aggregate intrinsic value of share options, Exercisable | $ 10,518 |
Share-Based Compensation - Sche
Share-Based Compensation - Schedule of Restricted Shares Activity (Detail) - Restricted Shares [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares, Outstanding, Beginning balance | 1,005,290 | ||
Number of shares, Granted | 467,115 | ||
Number of shares, Vested | (417,998) | ||
Number of shares, Forfeited | (201,076) | ||
Number of shares, Outstanding, Ending balance | 853,331 | 1,005,290 | |
Number of shares, Expected to vest | 655,199 | ||
Weighted average grant date fair value, Outstanding, Beginning balance | $ 65.73 | ||
Weighted average grant date fair value, Granted | 85.44 | $ 85.30 | $ 91 |
Weighted average grant date fair value, Vested | 53.07 | ||
Weighted average grant date fair value, Forfeited | 61.48 | ||
Weighted average grant date fair value, Outstanding, Ending balance | 79.88 | $ 65.73 | |
Weighted average grant date fair value, Expected to vest | $ 79.47 |
Share-Based Compensation - Sc_2
Share-Based Compensation - Schedule of Estimated Fair Value of Share-Based Awards on Respective Grant Dates using Binomial Option Pricing Model (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of ordinary share | $ 87.39 | ||
Risk-free interest rates | 1.96% | ||
Expected exercise multiple | 2.2 | ||
Expected volatility | 53.00% | ||
Expected dividend yield | 1.00% | 0.00% | 0.00% |
Weighted average fair value per option granted | $ 40.52 | $ 45.26 | $ 52.60 |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of ordinary share | $ 77.32 | $ 63.91 | |
Risk-free interest rates, Minimum | 0.62% | 2.42% | |
Expected exercise multiple | 2.2 | 2.2 | |
Expected volatility, Minimum | 52.00% | 52.00% | |
Weighted average fair value per option granted | $ 30 | $ 40.71 | |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of ordinary share | $ 94.46 | $ 98.31 | |
Risk-free interest rates, Maximum | 1.92% | 3.09% | |
Expected exercise multiple | 2.8 | 2.8 | |
Expected volatility, Maximum | 53.00% | 60.00% | |
Weighted average fair value per option granted | $ 44.69 | $ 78.09 |
Share-Based Compensation - Sc_3
Share-Based Compensation - Schedule of Share-Based Compensation Expenses (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | ¥ 211,206 | $ 32,369 | ¥ 204,008 | ¥ 202,325 |
Cost of Revenues [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 21,372 | 3,276 | 15,508 | 16,112 |
Sales and Marketing Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 40,103 | 6,146 | 46,081 | 61,599 |
General and Administrative Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 55,868 | 8,562 | 62,884 | 55,992 |
Product Development Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | ¥ 93,863 | $ 14,385 | ¥ 79,535 | ¥ 68,622 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) - USD ($) $ in Millions | Oct. 31, 2020 | Dec. 31, 2020 |
Percentage of voting interests acquired | 51.00% | |
Exclusive Technical Consulting And Service Agreements [Member] | ||
Business acquisition, transaction costs | $ 168 | |
First Closing Transaction [Member] | ||
Percentage of equity interests on converted basis | 48.87% | |
First Closing Transaction [Member] | Exclusive Technical Consulting And Service Agreements [Member] | ||
Business acquisition, transaction costs | $ 143 | |
Percentgae of exchange preferred shares | 31.48% | |
Second Closing Transaction [Member] | ||
Percentage of equity interests on converted basis | 51.00% | |
Second Closing Transaction [Member] | Exclusive Technical Consulting And Service Agreements [Member] | ||
Business acquisition, transaction costs | $ 25 | |
Percentgae of exchange preferred shares | 4.17% | |
Convertible Debt Securities [Member] | Exclusive Technical Consulting And Service Agreements [Member] | ||
Business acquisition, right to purchase | $ 200 |
Acquisition - Schedule Of Busin
Acquisition - Schedule Of Business Acquisitions By Acquisition (Detail) ¥ in Thousands | 12 Months Ended |
Dec. 31, 2020CNY (¥) | |
Total Cash consideration | ¥ 935,932 |
Less: consideration for New Warrant | (74,383) |
Purchase consideration | ¥ 861,549 |
Acquisition - Schedule Of Recog
Acquisition - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Goodwill | ¥ 4,071,391 | $ 623,968 | ¥ 1,504,278 |
Customer relationship [Member] | |||
Intangible assets, Estimated useful life | 5 years | ||
TTP Car Inc. ("TTP") [Member] | |||
Goodwill | ¥ 2,567,113 | ||
Net liabilities acquired, excluding intangible assets and the related deferred tax liabilities | (861,918) | ||
Deferred tax liabilities | (63,570) | ||
Noncontrolling interests | (147,639) | ||
Convertible redeemable noncontrolling interests | (1,056,237) | ||
Recognized Identifiable Assets Acquired and Liabilities Assumed | 861,549 | ||
TTP Car Inc. ("TTP") [Member] | Technologies [Member] | |||
Intangible assets | ¥ 202,100 | ||
Intangible assets, Estimated useful life | 5 years | ||
TTP Car Inc. ("TTP") [Member] | Trademarks [Member] | |||
Intangible assets | ¥ 106,900 | ||
Intangible assets, Estimated useful life | 10 years | ||
TTP Car Inc. ("TTP") [Member] | Customer relationship [Member] | |||
Intangible assets | ¥ 41,300 | ||
Intangible assets, Estimated useful life | 5 years | ||
TTP Car Inc. ("TTP") [Member] | Database [Member] | |||
Intangible assets | ¥ 73,500 | ||
Intangible assets, Estimated useful life | 5 years |
Condensed Financial Informati_3
Condensed Financial Information of the Parent Company - Condensed Balance Sheets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Current assets: | |||||
Cash and cash equivalents | ¥ 1,751,222 | $ 268,387 | ¥ 1,988,298 | ¥ 211,970 | |
Prepaid expenses and other current assets | 563,182 | 86,311 | 302,285 | ||
Total current assets | 18,364,080 | 2,814,419 | 16,358,382 | ||
Non-current assets: | |||||
Other non-current assets | 258,704 | 39,647 | 874,531 | ||
Total non-current assets | 5,366,765 | 822,492 | 2,797,483 | ||
Total assets | 23,730,845 | 3,636,911 | 19,155,865 | ||
Current liabilities: | |||||
Accrued expenses and other payables | 2,577,709 | 395,051 | 2,417,438 | ||
Total current liabilities | 4,185,683 | 641,484 | 3,965,903 | ||
Total liabilities | 4,922,053 | 754,338 | 4,549,924 | ||
Commitments and Contingencies | |||||
Shareholders' equity: | |||||
Ordinary shares | [1] | 8,089 | 1,240 | 8,029 | |
Additional paid-in capital | 4,089,763 | 626,784 | 3,774,373 | ||
Accumulated other comprehensive income | 62,295 | 9,547 | 148,415 | ||
Retained earnings | 13,465,587 | 2,063,691 | 10,698,280 | ||
Total shareholders' equity | 17,625,734 | 2,701,262 | 14,629,097 | ||
Total liabilities, mezzanine equity and equity | 23,730,845 | 3,636,911 | 19,155,865 | ||
Parent Company [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | 281,379 | 43,123 | 308,354 | ||
Prepaid expenses and other current assets | 815,934 | 125,048 | 33,723 | ||
Total current assets | 1,097,313 | 168,171 | 342,077 | ||
Non-current assets: | |||||
Other non-current assets | 0 | 0 | 789,542 | ||
Investment in subsidiaries and VIEs | 16,540,687 | 2,534,971 | 13,522,962 | ||
Total non-current assets | 16,540,687 | 2,534,971 | 14,312,504 | ||
Total assets | 17,638,000 | 2,703,142 | 14,654,581 | ||
Current liabilities: | |||||
Accrued expenses and other payables | 12,266 | 1,880 | 25,484 | ||
Total current liabilities | 12,266 | 1,880 | 25,484 | ||
Total liabilities | 12,266 | 1,880 | 25,484 | ||
Commitments and Contingencies | |||||
Shareholders' equity: | |||||
Ordinary shares | 8,089 | 1,240 | 8,029 | ||
Additional paid-in capital | 4,089,763 | 626,784 | 3,774,373 | ||
Accumulated other comprehensive income | 62,295 | 9,547 | 148,415 | ||
Retained earnings | 13,465,587 | 2,063,691 | 10,698,280 | ||
Total shareholders' equity | 17,625,734 | 2,701,262 | 14,629,097 | ||
Total liabilities, mezzanine equity and equity | ¥ 17,638,000 | $ 2,703,142 | ¥ 14,654,581 | ||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Condensed Financial Informati_4
Condensed Financial Information of the Parent Company - Condensed Balance Sheets (Parenthetical) (Detail) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed Balance Sheet Statements, Captions [Line Items] | |||||
Ordinary shares, par value | $ 0.0025 | $ 0.0025 | |||
Ordinary shares, shares authorized | 400,000,000,000 | 400,000,000,000 | |||
Ordinary shares, shares issued | 479,219,628 | 475,706,748 | |||
Ordinary shares, shares outstanding | [1] | 479,219,628 | 475,706,748 | 472,225,380 | 468,563,424 |
Parent Company [Member] | |||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||
Ordinary shares, par value | $ 0.0025 | $ 0.0025 | |||
Ordinary shares, shares authorized | 400,000,000,000 | 400,000,000,000 | |||
Ordinary shares, shares issued | 479,219,628 | 475,706,748 | |||
Ordinary shares, shares outstanding | 479,219,628 | 475,706,748 | |||
[1] | Par value per share and the number of shares have been retrospectively adjusted for the Share Subdivision and the ADS Ratio Change that were effective on February 5, 2021 as detailed in Note 2(a) and Note 22. |
Condensed Financial Informati_5
Condensed Financial Information of the Parent Company - Condensed Statements of Comprehensive Income (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Operating expenses: | ||||
General and administrative expenses | ¥ (381,843) | $ (58,520) | ¥ (317,967) | ¥ (314,846) |
Operating income (losses) | 3,148,027 | 482,455 | 3,235,792 | 2,868,925 |
Fair value change of other current and non-current assets | (15,658) | (2,400) | (5,442) | (11,017) |
Income before income taxes | 3,668,512 | 562,222 | 3,701,006 | 3,241,421 |
Income tax expense | (260,945) | (39,992) | (500,361) | (377,890) |
Net income attributable to Autohome Inc. | 3,405,229 | 521,872 | 3,199,966 | 2,871,015 |
Other comprehensive (loss)/income, net of tax of nil | ||||
Foreign currency translation adjustments | (86,120) | (13,198) | 20,040 | 58,421 |
Comprehensive income attributable to Autohome Inc. | 3,319,109 | 508,674 | 3,220,006 | 2,929,436 |
Parent Company [Member] | ||||
Operating expenses: | ||||
General and administrative expenses | (21,109) | (3,235) | (14,757) | (14,797) |
Operating income (losses) | (21,109) | (3,235) | (14,757) | (14,797) |
Interest income | 80,574 | 12,349 | 79,628 | 45,023 |
Fair value change of other current and non-current assets | (15,658) | (2,400) | (5,442) | (11,017) |
Share of income of subsidiaries and VIEs | 3,361,422 | 515,158 | 3,140,537 | 2,851,806 |
Income before income taxes | 3,405,229 | 521,872 | 3,199,966 | 2,871,015 |
Income tax expense | 0 | 0 | 0 | 0 |
Net income attributable to Autohome Inc. | 3,405,229 | 521,872 | 3,199,966 | 2,871,015 |
Other comprehensive (loss)/income, net of tax of nil | ||||
Foreign currency translation adjustments | (86,120) | (13,198) | 20,040 | 58,421 |
Comprehensive income attributable to Autohome Inc. | ¥ 3,319,109 | $ 508,674 | ¥ 3,220,006 | ¥ 2,929,436 |
Condensed Financial Informati_6
Condensed Financial Information of the Parent Company - Condensed Statements of Cash Flows (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Net cash (used in)/generated from operating activities | ¥ 3,325,631 | $ 509,675 | ¥ 2,889,369 | ¥ 3,111,438 |
Net cash generated from investing activities | (2,985,458) | (457,542) | (1,168,267) | (3,301,239) |
Net cash (used in)/generated from financing activities | (546,967) | (83,825) | 68,676 | (543,968) |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (17,556) | (2,690) | (13,250) | 39,151 |
Net (decrease)/increase in cash and cash equivalents and restricted cash | (224,350) | (34,382) | 1,776,528 | (694,618) |
Cash and cash equivalents and restricted cash at beginning of year | 1,993,498 | 305,516 | 216,970 | 911,588 |
Cash and cash equivalents and restricted cash at end of year | 1,769,148 | 271,134 | 1,993,498 | 216,970 |
Parent Company [Member] | ||||
Net cash (used in)/generated from operating activities | (1,188) | (182) | (498) | 14,214 |
Net cash generated from investing activities | 532,293 | 81,577 | 218,406 | 515,101 |
Net cash (used in)/generated from financing activities | (546,967) | (83,826) | 68,676 | (543,968) |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (11,113) | (1,703) | 3,602 | 1,040 |
Net (decrease)/increase in cash and cash equivalents and restricted cash | (26,975) | (4,134) | 290,186 | (13,613) |
Cash and cash equivalents and restricted cash at beginning of year | 308,354 | 47,257 | 18,168 | 31,781 |
Cash and cash equivalents and restricted cash at end of year | ¥ 281,379 | $ 43,123 | ¥ 308,354 | ¥ 18,168 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - $ / shares | Feb. 05, 2021 | Feb. 02, 2021 | Dec. 31, 2020 |
Subsequent Event [Line Items] | |||
Stock holders equity note stock split | 4-for-1 Share | ||
ADR [Member] | |||
Subsequent Event [Line Items] | |||
Stock holders equity note stock split | one ADS representing four ordinary shares | ||
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Dividend payable | $ 0.2175 | ||
Dividend ,Payable date | Mar. 5, 2021 | ||
Dividend ,Record date | Feb. 25, 2021 | ||
Dividends Payable, Date Declared | Feb. 2, 2021 | ||
Subsequent Event [Member] | ADR [Member] | |||
Subsequent Event [Line Items] | |||
Dividend payable | $ 0.87 |