Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
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 | 505,183,788 |
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 |
Auditor Name | PricewaterhouseCoopers Zhong Tian LLP |
Auditor Firm ID | 1424 |
Auditor Location | Beijing, the People’s Republic of China |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Quan Long |
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] | |
Trading Symbol | 2518 |
Title of 12(b) Security | Ordinary shares, par value US$0.0025 per share |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Current assets: | ||||
Cash and cash equivalents | ¥ 4,236,501 | $ 664,799 | ¥ 1,751,222 | |
Restricted cash | 89,855 | 14,100 | ||
Short-term investments | 16,496,267 | 2,588,624 | 12,878,176 | |
Accounts receivable (net of allowance for doubtful accounts of RMB128,199 and RMB177,563 (US$27,863) as of December 31, 2020 and 2021, respectively) | 2,139,471 | 335,730 | 3,124,197 | |
Amounts due from related parties, current | 83,376 | 13,084 | 47,303 | |
Prepaid expenses and other current assets | 280,248 | 43,977 | 563,182 | |
Total current assets | 23,325,718 | 3,660,314 | 18,364,080 | |
Non-current assets: | ||||
Restricted cash, non-current | 5,200 | 816 | 17,926 | |
Property and equipment, net | 381,496 | 59,865 | 410,081 | |
Intangible assets, net | 357,431 | 56,089 | 440,421 | |
Goodwill | 4,071,391 | 638,890 | 4,071,391 | |
Long-term investments | 70,720 | 11,098 | 70,418 | |
Amounts due from related parties, non-current | 7,529 | 1,181 | 18,163 | |
Deferred tax assets | 176,138 | 27,640 | 79,661 | |
Other non-current assets | 133,383 | 20,931 | 258,704 | |
Total non-current assets | 5,203,288 | 816,510 | 5,366,765 | |
Total assets | 28,529,006 | 4,476,824 | 23,730,845 | |
Current liabilities: | ||||
Accrued expenses and other payables | 2,044,597 | 320,842 | 2,577,709 | |
Advance from customers | 123,370 | 19,359 | 127,235 | |
Deferred revenue | 1,553,013 | 243,702 | 1,315,667 | |
Income tax payable | 233,342 | 36,616 | 85,177 | |
Amounts due to related parties | 31,897 | 5,005 | 79,895 | |
Total current liabilities (including current liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB602,990 and RMB375,845 (US$58,978) as of December 31, 2020 and 2021, respectively) | 3,986,219 | 625,524 | 4,185,683 | |
Non-current liabilities | ||||
Other liabilities | 28,619 | 4,492 | 104,861 | |
Deferred tax liabilities | 576,798 | 90,512 | 631,509 | |
Total non-current liabilities (including non-current liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB75,301 and RMB60,664 (US$9,520) as of December 31, 2020 and 2021, respectively) | 605,417 | 95,004 | 736,370 | |
Total liabilities (including total liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB 678,291 and RMB436,509 (US$68,498) as of December 31, 2020 and 2021, respectively) | 4,591,636 | 720,528 | 4,922,053 | |
Commitments and contingencies | ||||
Mezzanine equity: | ||||
Convertible redeemable noncontrolling interests | 1,468,029 | 230,366 | 1,056,237 | |
Shareholders' equity: | ||||
Ordinary shares (par value of US$0.0025 per share; 400,000,000,000 ordinary shares authorized; 479,219,628 and 505,183,788 ordinary shares issued and outstanding, as of December 31, 2020 and 2021, respectively) | [1] | 8,523 | 1,337 | 8,089 |
Additional paid-in capital | 7,886,227 | 1,237,521 | 4,089,763 | |
Treasury Stock, Value | (31,204) | (4,897) | ||
Accumulated other comprehensive income | (49,905) | (7,830) | 62,295 | |
Retained earnings | 14,940,778 | 2,344,534 | 13,465,587 | |
Total Autohome Inc. shareholders' equity | 22,754,419 | 3,570,665 | 17,625,734 | |
Noncontrolling interests | (285,078) | (44,735) | 126,821 | |
Total equity | 22,469,341 | 3,525,930 | 17,752,555 | |
Total liabilities, mezzanine equity and equity | ¥ 28,529,006 | $ 4,476,824 | ¥ 23,730,845 | |
[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). |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥)shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020CNY (¥)shares | |||
Allowance for doubtful accounts | ¥ 177,563 | $ 27,863 | ¥ 128,199 | |||
Total current liabilities | 3,986,219 | 625,524 | 4,185,683 | |||
Total non-current liabilities | 605,417 | 95,004 | 736,370 | |||
Total liabilities | ¥ 4,591,636 | $ 720,528 | ¥ 4,922,053 | |||
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 | 505,183,788 | 505,183,788 | 479,219,628 | |||
Ordinary shares, shares outstanding | 505,183,788 | [1] | 505,183,788 | [1] | 479,219,628 | [1] |
Consolidated VIEs [Member] | ||||||
Total current liabilities | ¥ 375,845 | $ 58,978 | ¥ 602,990 | |||
Total non-current liabilities | 60,664 | 9,520 | 75,301 | |||
Total liabilities | ¥ 436,509 | $ 68,498 | ¥ 678,291 | |||
[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, 2021CNY (¥)¥ / sharesshares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | ||
Net revenues: | |||||
Total net revenues | ¥ 7,237,004 | $ 1,135,644 | ¥ 8,658,559 | ¥ 8,420,751 | |
Cost of revenues (including related party transactions of RMB41,591, RMB61,566 and RMB68,639 (US$10,771) for the years ended December 31, 2019, 2020 and 2021, respectively) | (1,047,892) | (164,437) | (961,170) | (960,292) | |
Gross profit | 6,189,112 | 971,207 | 7,697,389 | 7,460,459 | |
Operating expenses: | |||||
Sales and marketing expenses | (2,759,905) | (433,089) | (3,246,507) | (3,093,345) | |
General and administrative expenses (including provision for doubtful accounts of RMB36,676, RMB95,683 and RMB 53,294 (US$8,363) for the years ended December 31, 2019, 2020 and 2021, respectively) | (543,799) | (85,334) | (381,843) | (317,967) | |
Product development expenses | (1,398,037) | (219,383) | (1,364,227) | (1,291,054) | |
Total Operating expenses (including related party transactions of RMB67,810, RMB99,763 and RMB108,955 (US$17,097) for the years ended December 31, 2019, 2020 and 2021, respectively) | (4,701,741) | (737,806) | (4,992,577) | (4,702,366) | |
Other operating income, net | 294,241 | 46,173 | 443,215 | 477,699 | |
Operating profit | 1,781,612 | 279,574 | 3,148,027 | 3,235,792 | |
Interest and investment income, net (including related party transactions of RMB47,459, RMB63,558 and RMB136,613 (US$21,438) for the years ended December 31, 2019, 2020 and 2021, respectively) | 395,245 | 62,022 | 521,731 | 464,529 | |
Earnings/(loss) from equity method investments | 301 | 47 | (1,246) | 685 | |
Income before income taxes | 2,177,158 | 341,643 | 3,668,512 | 3,701,006 | |
Income tax expense | (34,006) | (5,336) | (260,945) | (500,361) | |
Net income | 2,143,152 | 336,307 | 3,407,567 | 3,200,645 | |
Net (income)/loss attributable to noncontrolling interests | 105,633 | 16,576 | (2,338) | (679) | |
Net income attributable to Autohome Inc. | ¥ 2,248,785 | $ 352,883 | ¥ 3,405,229 | ¥ 3,199,966 | |
Earnings per share for ordinary shares: | |||||
Basic | (per share) | [1] | ¥ 4.30 | $ 0.67 | ¥ 7.13 | ¥ 6.75 |
Diluted | (per share) | [1] | ¥ 4.29 | $ 0.67 | ¥ 7.10 | ¥ 6.69 |
Weighted average number of shares used to compute earnings per share attributable to common stockholders: | |||||
Basic | [1] | 499,861,764 | 499,861,764 | 477,467,268 | 474,328,384 |
Diluted | [1] | 500,481,540 | 500,481,540 | 479,686,380 | 478,060,988 |
Net income | ¥ 2,143,152 | $ 336,307 | ¥ 3,407,567 | ¥ 3,200,645 | |
Other comprehensive income/(loss) | |||||
Foreign currency translation adjustments | (106,893) | (16,774) | (86,120) | 20,040 | |
Comprehensive income | 2,036,259 | 319,533 | 3,321,447 | 3,220,685 | |
Comprehensive (income)/ loss attributable to noncontrolling interests | 100,326 | 15,743 | (2,338) | (679) | |
Comprehensive income attributable to Autohome Inc. | 2,136,585 | 335,276 | 3,319,109 | 3,220,006 | |
Accretion of mezzanine equity | (411,792) | (64,619) | |||
Accretion attributable to noncontrolling interests | 311,573 | 48,893 | |||
Net income attributable to ordinary shareholders | ¥ 2,148,566 | $ 337,157 | ¥ 3,405,229 | ¥ 3,199,966 | |
ADR [Member] | |||||
Earnings per share for ordinary shares: | |||||
Basic | (per share) | ¥ 17.19 | $ 2.70 | ¥ 28.53 | ¥ 26.99 | |
Diluted | (per share) | ¥ 17.17 | $ 2.69 | ¥ 28.40 | ¥ 26.77 | |
Media Services [Member] | |||||
Net revenues: | |||||
Total net revenues | ¥ 2,011,446 | $ 315,640 | ¥ 3,455,056 | ¥ 3,653,767 | |
Leads Generation Services [Member] | |||||
Net revenues: | |||||
Total net revenues | 2,988,075 | 468,894 | 3,198,832 | 3,275,544 | |
Online Marketplace And Other Service [Member] | |||||
Net revenues: | |||||
Total net revenues | ¥ 2,237,483 | $ 351,110 | ¥ 2,004,671 | ¥ 1,491,440 | |
[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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Income Statement [Abstract] | ||||
Revenue from Related Parties | ¥ 417,051 | $ 65,444 | ¥ 621,845 | ¥ 447,350 |
Related Parties Amount In Cost Of Revenue | 68,639 | 10,771 | 61,566 | 41,591 |
Provision for doubtful accounts | 53,294 | 8,363 | 95,683 | 36,676 |
Operating Expenses, Related Party Costs | 108,955 | 17,097 | 99,763 | 67,810 |
Interest Income, Related Party | ¥ 136,613 | $ 21,438 | ¥ 63,558 | ¥ 47,459 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net income | ¥ 2,143,152 | $ 336,307 | ¥ 3,407,567 | ¥ 3,200,645 |
Adjustments to reconcile net income to net cash from operating activities: | ||||
Depreciation of property and equipment | 225,310 | 35,356 | 158,229 | 106,941 |
Amortization of intangible assets | 83,710 | 13,136 | 12,045 | 11,662 |
Amortization of operating lease assets | 122,144 | 19,167 | 108,904 | 122,427 |
Loss/(gain) on disposal of property and equipment | (1,203) | (189) | (249) | 83 |
Provision for doubtful accounts | 53,294 | 8,363 | 95,683 | 36,676 |
(Earnings)/loss from equity method investments | (301) | (47) | 1,246 | (685) |
Fair value change of short-term investments | 107,526 | 16,873 | 9,042 | 20,662 |
Fair value change of other non-current assets | 15,658 | 5,442 | ||
Interest income of convertible bond | (77,720) | (70,889) | ||
Share-based compensation | 206,060 | 32,335 | 211,206 | 204,008 |
Deferred income taxes | (151,188) | (23,725) | (22,427) | 144,963 |
Changes in operating assets and liabilities: | ||||
Accounts receivable | 931,432 | 146,162 | (39,910) | (479,538) |
Amounts due from related parties, current | (36,073) | (5,661) | (17,802) | 4,546 |
Prepaid expenses and other current assets | 1,046 | 164 | (217,720) | (50,995) |
Amounts due from related parties, non-current | 10,634 | 1,669 | (13,654) | (2,468) |
Other non-current assets | 3,177 | 499 | (252,877) | (186,591) |
Accrued expenses and other payables | (432,192) | (67,820) | (158,270) | (22,630) |
Advance from customers | (3,865) | (607) | 31,599 | 20,619 |
Deferred revenue | 237,346 | 37,245 | (55,286) | (139,773) |
Income tax payable | 148,165 | 23,250 | 39,688 | (73,721) |
Amounts due to related parties | (47,998) | (7,532) | 43,508 | 16,519 |
Other liabilities | (76,242) | (11,964) | 47,171 | 21,466 |
Net cash generated from operating activities | 3,523,934 | 552,981 | 3,325,631 | 2,889,369 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchase of property and equipment | (218,798) | (34,334) | (263,892) | (204,113) |
Proceeds from disposal of property and equipment | 1,030 | 162 | 388 | 621 |
Purchase of intangible assets | (810) | (127) | (573) | |
Cash consideration paid for the TTP acquisition, net of cash acquired | (77,444) | (12,153) | (639,760) | |
Purchase of short-term investments | (27,082,428) | (4,249,824) | (40,050,012) | (42,660,267) |
Maturity of short-term investments | 23,565,437 | 3,697,931 | 37,968,391 | 41,695,492 |
Net cash used in investing activities | (3,813,013) | (598,345) | (2,985,458) | (1,168,267) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from exercise of share options | 37,032 | 5,811 | 104,154 | 68,676 |
Payment of dividends | (673,375) | (105,667) | (651,121) | |
Proceeds from issuance of ordinary shares | 3,565,843 | 559,559 | ||
Payments for repurchase of ordinary shares | (31,204) | (4,897) | ||
Net cash generated from/(used in) financing activities | 2,898,296 | 454,806 | (546,967) | 68,676 |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (46,809) | (7,345) | (17,556) | (13,250) |
Net increase/(decrease) in cash and cash equivalents and restricted cash | 2,562,408 | 402,097 | (224,350) | 1,776,528 |
Cash and cash equivalents and restricted cash at beginning of year | 1,769,148 | 277,618 | 1,993,498 | 216,970 |
Cash and cash equivalents and restricted cash at end of year | 4,331,556 | 679,715 | 1,769,148 | 1,993,498 |
Supplemental disclosures of cash flow information: | ||||
Income taxes paid | 340,215 | 53,387 | 563,415 | 430,308 |
Purchase of fixed assets included in accrued expenses and other payables | 18,624 | 2,923 | 34,061 | 20,382 |
Cash paid for operating lease cost | 137,693 | 21,607 | 135,773 | 132,096 |
Right-of-use assets acquired under operating leases | ¥ 38,023 | $ 5,967 | ¥ 217,668 | ¥ 54,315 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity ¥ in Thousands, $ in Thousands | CNY (¥)shares | USD ($)shares | Ordinary sharesCNY (¥)shares | Ordinary sharesUSD ($)shares | Additional paid-in capitalCNY (¥) | Additional paid-in capitalUSD ($) | Treasury stockCNY (¥) | Treasury stockUSD ($) | Accumulated other comprehensive incomeCNY (¥) | Accumulated other comprehensive incomeUSD ($) | Retained earningsCNY (¥) | Retained earningsUSD ($) | Noncontrolling interestsCNY (¥) | Noncontrolling interestsUSD ($) | |
Beginning balance, Amount at Dec. 31, 2018 | ¥ 11,111,443 | ¥ 7,969 | ¥ 3,500,620 | ¥ 128,375 | ¥ 7,498,314 | ¥ (23,835) | |||||||||
Beginning 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 (loss)/income: | 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 | 3,405,229 | 2,338 | ||||||||||||
Other comprehensive (loss)/income: | (86,120) | (86,120) | |||||||||||||
Acquisition of a subsidiary | 147,639 | 147,639 | |||||||||||||
Dividends declared | (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 | 8,089 | 4,089,763 | 62,295 | 13,465,587 | 126,821 | |||||||||
Ending balance, Shares at Dec. 31, 2020 | shares | [1] | 479,219,628 | 479,219,628 | ||||||||||||
Net income/(loss) | ¥ 2,143,152 | $ 336,307 | 2,248,785 | (105,633) | |||||||||||
Other comprehensive (loss)/income: | (106,893) | $ (16,774) | (112,200) | 5,307 | |||||||||||
Dividends declared | (673,375) | (673,375) | |||||||||||||
Exercise and vesting of share-based awards | ¥ 36,579 | ¥ 32 | 36,547 | ||||||||||||
Exercise and vesting of share-based awards, Shares | shares | [1] | 1,890,028 | 1,890,028 | ||||||||||||
Share-based compensation | ¥ 206,060 | 206,060 | |||||||||||||
Issuance of ordinary shares, net of issuance costs (Note 1), Shares | shares | [1] | 24,738,400 | 24,738,400 | ||||||||||||
Issuance of ordinary shares, net of issuance costs (Note 1) | 3,554,259 | ¥ 402 | 3,553,857 | ||||||||||||
Repurchase of ordinary shares, Shares | shares | [1] | 664,268 | 664,268 | ||||||||||||
Repurchase of ordinary shares | (31,204) | ¥ (31,204) | |||||||||||||
Accretion of redeemable noncontrolling interests | (411,792) | $ (64,619) | (100,219) | (311,573) | |||||||||||
Ending balance, Amount at Dec. 31, 2021 | ¥ 22,469,341 | $ 3,525,930 | ¥ 8,523 | $ 1,337 | ¥ 7,886,227 | $ 1,237,521 | ¥ (31,204) | $ (4,897) | ¥ (49,905) | $ (7,830) | ¥ 14,940,778 | $ 2,344,534 | ¥ (285,078) | $ (44,735) | |
Ending balance, Shares at Dec. 31, 2021 | shares | [1] | 505,183,788 | 505,183,788 | ||||||||||||
[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) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Common Stock Dividends, Declared | $ 0.87 | $ 0.77 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2021 | |
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 , 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$142,590 from the offering. Each ADS represents four ordinary shares (previously 1 ADS represents 1 ordinary share before the ADS Ratio Change as detailed in Note 2(a)). Upon the completion of IPO in December 2013, the Company’s dual-class ordinary share structure came into effect . follow-on follow-on On March 15, 2021, the Company successfully completed its global offering and the Company’s ordinary shares have been listed on the Hong Kong Stock Exchange. The Company issued 24,738,400 ordinary shares, including 4,544,000 ordinary shares under an over-allotment option. Net proceeds raised by the Company from the global offering after deducting underwriting discounts and commissions and other offering expenses amounted to Hong Kong Dollar (“HK$”) 4,294,850. As of December 31, 2021, the Company had 505,183,788 issued and outstanding ordinary shares after considering who held of the total equity interest and a significant percentage of the voting rights in the Company as of December 31, 2021, by which it has substantial influence in determining the outcome of any corporate transaction or other matter submitted to the shareholders for approval, including mergers, consolidations and the sale of all or substantially all of the Company’s assets, election of directors and other significant corporate actions. 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, 2021, 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 Link Inc. January 29, 2015 Cayman Islands 100% 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 Media”, formerly known as Prbrownies Marketing Limited) 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 Inc. (“TTP”) June 12, 2015 Cayman Islands 51% (Note) Auto Pai Ltd. September 25, 2020 British Virgin Islands 51% TTP Car (HK) Limited June 23, 2015 Hong Kong 51% 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% Beijing Chezhiying Technology Co., Ltd. (“Chezhiying WFOE”) May 26, 2015 PRC 100% Guangzhou Autohome Advertising Co., Ltd. November 25, 2013 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 Software 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 51% 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 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: Autohome Inc., its subsidiaries and VIEs are hereinafter collectively referred to as the “Company”. The Company 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 Company’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 subsidiaries and the 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 Autohome WFOE entered into a series of contractual agreements with Autohome Information and each of its individual nominee shareholders. The currently effective contractual agreements were entered into in February 2021 by and between Autohme WFOE, Autohome Information, Mr. Quan Long, the Company’s chairman of the Board of Directors and chief executive officer, and Ms. Haiyun Lei. Chezhiying WFOE also entered into a series of contractual agreements with Shengtuo Hongyuan and each of its individual nominee shareholders. The currently effective contractual agreements were entered into in February 2021 by and between Chezhiying WFOE, Shengtuo Hongyuan, Mr. Quan Long, the Company’s chairman of the Board of Directors and chief executive officer, and Ms. 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”) 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 Company 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 Company conducts its operations in China through Contractual Agreements entered into between the WFOEs and VIEs. In 2014, the Company 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 Company’s servers or blocking the Company’s websites and mobile applications, discontinuing or placing restrictions or onerous conditions on the Company’s operations, requiring the Company to undergo a costly and disruptive restructuring, restricting the Company’s rights to use the proceeds from the offering to finance the Company’s business and operations in China, or enforcement actions that could be harmful to the Company’s business. Any of these actions could cause significant disruption to the Company’s business operations and severely damage the Company’s reputation, which would in turn materially and adversely affect the Company’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 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 Company’s business operations are in compliance with existing PRC law and regulations in all material respects. The , 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 16 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, consolidat e As of December 31, 2020 2021 RMB RMB US$ Current assets 558,442 735,968 115,489 Non-current 2,077,768 1,922,848 301,737 Total assets 2,636,210 2,658,816 417,226 Accrued expenses and other payables 497,742 255,661 40,119 Advance from customers 87,604 88,699 13,919 Deferred revenue 17,644 31,485 4,941 Inter-company payables 103,393 524,983 82,381 Total current liabilities 706,383 900,828 141,360 Other liabilities 9,054 4,202 659 Deferred tax liabilities 66,247 56,462 8,860 Total non-current 75,301 60,664 9,519 Total liabilities 781,684 961,492 150,879 Net assets 1,854,526 1,697,324 266,347 Note: The non-current assets, total assets and net assets of VIEs and VIEs’ subsidiaries as of December 31, 2020 have been revised to increase the intangible assets by RMB 423,800 from amounts previously presented, to correct an immaterial disclosure error under which certain intangible assets were omitted from the presentation. Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Net revenues 702,040 700,608 948,520 148,844 Net (loss)/income (848 ) 23,342 (89,397 ) (14,028 ) Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Net cash (used in)/generated from operating activities (446,358 ) 23,147 411,966 64,646 Net cash generated /(used in) 478,513 193,190 (386,343 ) (60,626 ) Net cash generated from financing activities — — 163,424 25,645 The revenue-producing assets that are held by the VIEs comprise of customer relationship, trademarks, websites, domain names, operating license and servers. The current assets of the VIEs included amounts due from Group companies of RMB129,223 and RMB183,335 (US$28,769 ) as of December 31, 2020 and 2021, respectively, which were eliminated upon consolidation by the Company. The current liabilities of the VIEs included amounts due to Group companies of RMB103,393 and RMB524,983 (US$82,381), as of December 31, 2020 and 2021, respectively, which were eliminated upon consolidation by the Company. There was no pledge or collateralization of the VIEs’ assets that can only be used to settle obligations of the VIEs. Creditors of the VIEs have no recourse to the general credit of the WFOEs, which are the primary beneficiaries of the VIEs. The WFOEs did not provide or intend to provide financial or other supports not previously contractually required to the VIEs during the years presented. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
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 (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. (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: revenues (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 (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 operating 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 (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$1.00 to RMB6.3726 on December 3 0 (f) Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits, and time deposits placed with banks or other financial institutions which are unrestricted as to withdrawal and use and have original maturities of three months or less. (g) Short-term Investments Short-term investments represent bank deposits and adjustable-rate financial products with original maturities of less than 1 year that are measured at fair value. In accordance with ASC 825, Financial Instruments (h) Restricted Cash and Consolidated Statements of Cash Flows Restricted cash primarily represents cash deposits in a regulatory escrow account related to insurance brokerage services and application for the credit lines from bank. The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows: As of December 31, 2019 2020 2021 RMB RMB RMB US$ Amounts shown in Consolidated Balance Sheets: Cash and cash equivalents 1,988,298 1,751,222 4,236,501 664,799 Restricted cash 5,200 17,926 95,055 14,916 Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows 1,993,498 1,769,148 4,331,556 679,715 (i) Fair Value Measurements of Financial Instruments Financial instruments of the Company 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 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. (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 – 5 years Office equipment 3 – 5 years Motor vehicles 4 – 5 years Software 3 – 5 years 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 transaction costs. Intangible assets with finite useful lives are amortized using a straight-line method of amortization that reflects the estimated pattern in which the economic benefits of the intangible asset are to be consumed. The estimated useful life for the intangible assets is as follows: Category Estimated useful life Technologies 5 years Trademarks 3-15 years Customer relationship 5 years Websites 4 years Domain names 4 - 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 Company’s goodwill at December 31, 2020 and 2021 was 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 Company represents the lowest level within the entity at which goodwill is monitored for internal management purposes. Starting from January 1, 2020, the Company adopted ASU 2017-04, more-likely-than-not ) If the Company 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) Impairment of Long-Lived Assets and Intangibles The Company 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 Company of long-lived assets may not be recoverable. When these events occur, the Company 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 Company 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. (o) Revenue Recognition and Accounts Receivable The Company’s revenues are derived from media services, leads generation services and online marketplace and others. Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The recognition of revenue involves certain management judgments including identification of performance obligations, standalone selling price for each performance obligation, estimation of variable consideration represented by sales rebates, etc. The Company provides rebates to agency companies based on cumulative annual advertising and service volume, and timeliness of their payments, which are accounted for as variable consideration. The Company estimate its obligations under such agreements by applying the most likely amount method, based on an evaluation of the likelihood of the agency companies’ achievement of the advertising and service volume targets, and the timeliness of their payments, after taking into account the agency companies’ purchase trends and history. A refund liability (included in accrued expenses and other payables) is recognized for expected sales rebates payable to agency companies in relation to advertising services provided. The Company recognizes revenue for the amount of fees it receives from its clients, after deducting these sales rebates, and net of VAT collected from customers. The Company believes that there will not be significant changes to its estimates of variable consideration and updates the estimate at each reporting period as actual utilization becomes available. The Company 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 Company 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 Company 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 Company 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 Company’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 (i) data products, (ii) new and used vehicle transaction platform, and (iii) auto financing services and others. For the data products, the Company provides data-driven products and solutions for the automakers and dealers and data analysis reports and recognizes revenue over the service period of data-driven products and solutions by the automakers and dealers or at a point in time upon the delivery of reports. For the new and used vehicle transaction business, and auto-financing business, the Company 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 vehicle transaction, the Company 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 vehicle transaction, the Company 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 Company 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 Company 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 Company adopted Accounting Standards Update No. 2016-13, Practical Expedients and Exemptions The Company has elected to use the practical expedient to not disclose the remaining performance obligations for contracts that have durations of one year or less. Performance obligations to be recognized over a period in excess of one year are immaterial as of December 31, 2020 and 2021. The revenue standard requires the Company 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 Company has determined that sales commission for sales personnel meet the requirements of capitalization. However, the Company applies a practical expedient to expense these costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. (p) Cost of Revenues Cost of revenues primarily consist of (i) content-related costs, (ii) bandwidth and Internet Data Center (“IDC”) fees, (iii) tax surcharges, (iv) depreciation of the Company’s long-lived assets, (v) amortization of certain acquired intangible assets, and (vi) others. 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. (q) Advertising Expenditures Advertising expenditures which amounted to RMB , RMB and RMB (US $210,530 ) for the years ended December , , and , respectively, are expensed as incurred and are included in sales and marketing expenses. (r) Product Development Expenses Product development expenses consist primarily of employee costs related to personnel involved in the development and enhancement of the Company’s service offerings on its websites and mobile applications, and expenditure for research and development activities. The Company recognizes these costs as expenses when incurred, unless they qualify for capitalization as software development costs. Capitalized software development costs have not been material for the periods presented. (s) Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases 2016-02”). The Company has elected to utilize the package of practical expedients at the time of adoption, which allows the Company 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 Company did not recognize operating lease right-of-use The Company determines if an arrangement is a lease and determines the classification of the lease, as either operating or finance, at commencement. The Company has operating leases for office buildings and data centers and has no finance leases as of December 31, 2020 and 2021. 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 Company’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 Company 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 Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s lease agreements contain both lease and non-lease As of December 31, 2020 and 2021, the Company recognized the following items related to operating lease in its consolidated balance sheets. As of December 31, 2020 2021 RMB RMB US$ O perating lease RO 209,339 133,383 20,931 O p erating lease liabilities, current p 112,094 96,160 15,090 Operating lease liabilities, non-current 90,614 28,619 4,492 Lease cost recognized in the Company’s consolidated statements of comprehensive income is summarized as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Operating lease cost 128,507 117,479 131,529 20,640 Cost of other leases with terms less than one year 64,163 96,065 99,923 15,680 Maturities of operating lease liabilities as of December 31, 2021 are as follows: Amounts RMB US$ 2021 — — 2022 97,954 15,371 2023 26,846 4,213 2024 5,917 929 2025 491 77 Total lease payments 131,208 20,590 Less imputed interest (6,429 ) (1,008 ) Total 124,779 19,582 As of December 31, 2021, the Company As of December 31, 2020 and 2021, the Company does not have any significant operating or finance leases that have not yet commenced. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company leased office space and data centers from its related party, Ping An Company for a total amount of RMB72,185, RMB119,855 and RMB138,009 (US$21,657 ) (t) Income Taxes The Company Company more-likely-than-not The Company applies ASC 740, Accounting for Income Taxes The Company’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 Company’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 Company 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. (u) Earnings Per Share Earnings per share are calculated in accordance with ASC 260-10, 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. (v) 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 (w) 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 Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated statements of comprehensive income to distinguish the interests from that of the Company. (x) Segment Reporting In accordance with ASC 280-10, Segment Reporting: Overall Company’s Company Company Company Company’s (y) 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 RMB344,829, RMB241,951 and RMB418,517 (US$65,677 ) (z) 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 (aa) Other operating income, net Value Added Tax (“VAT”) refunds are presented as a component of other operating income, net. For Beijing Prbrownies Software Co., Ltd. (“Beijing Prbrownies”) and Tianjin Autohome Software Co., Ltd. (“Tianjin Autohome”, formerly known as Tianjin Autohome Data Information Technology Co., Ltd.)., they are subject to 13% VAT (or 16% VAT before April 1, 2019 ) ) ) operating Other operating ) op e (bb) Commitment and contingencies From time to time, the Company (cc) Business Combinations The Company 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 Company 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. (dd) Mezzanine Equity The Company’s acquired subsidiary had issued preferred shares to the Company and other shareholders (Note 20), which could be converted into ordinary shares or redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of the entity. Therefore, these preferred shares were accounted for as convertible redeemable noncontrolling interests in the consolidated balance sheets. The Company accounts for the changes in accretion to the redemption value in accordance with ASC Topic 480, Distinguishing Liabilities from Equity. For the determination of fair value, option pricing model was used. The major unobservable input used in the option pricing model included equity value of underlying business, which was determined by management using valuation techniques under the combination of income approach and market approach. The significant assumptions used in income approach included revenue growth rate and discount rate, and those used in market approach included revenue growth rate and selection of earning multiples. (ee) Recent Accounting Pronouncements In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements. (ff) Concentration of Risk Credit risk Financial instruments that potentially subject the Company 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, 2020, and 2021, cash and cash equivalents, restricted cash and short-term investments altogether amounting to RMB14,647,324 and RMB20,827,823 (US$3,268,339 ) Company’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 Company continues to monitor the financial strength of these financial institutions. Accounts receivable are typically unsecured and derived from revenue earned from customers, which are exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring process of outstanding balances. The Company maintains reserves for allowance of doubtful accounts and these allowances have generally been within expectations. There were no customer and one customer that individually represented greater than 10% of the total accounts receivable as of December 31, 2020 and 2021. Business, customer, political, social and economic risks The Company 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 Company’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 Company, 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 Company’s ability to attract and retain employees necessary to support its growth. There were no customer that individually represented greater than 10% of the total net revenues for the years ended December 31, 2019, 2020 and 2021, respectively. Currency convertibility risk The Company Most of the cash and cash equival |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2021 | |
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, RMB RMB RMB RMB US$ Cash equivalents Time deposits — 892,598 — 892,598 140,068 Short-term investments Term deposits — 10,484,066 — 10,484,066 1,645,179 Adjustable-rate financial products — 6,007,859 — 6,007,859 942,764 Equity investments with readily determinable fair value 4,342 — — 4,342 681 Restricted cash — 95,055 — 95,055 14,916 4,342 17,479,578 — 17,483,920 2,743,608 Fair Value Measurement at Quoted Prices Significant Other Unobservable Fair Value at December 31, RMB RMB RMB RMB Cash equivalents Time deposits — 268,634 — 268,634 Short-term investments Term deposits — 7,286,100 — 7,286,100 Adjustable-rate financial products — 5,592,076 — 5,592,076 Restricted cash — 17,926 — 17,926 — 13,164,736 — 13,164,736 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 liabilities measured at fair value on a non-recurring The Company non-recurring |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Accounts Receivable, Net | 4. ACCOUNTS RECEIVABLE, NET Accounts receivable and allowance for credit losses consist of the following: As of December 31, 2020 2021 RMB RMB US$ Accounts receivable 3,252,396 2,317,034 363,593 Allowance for credit losses (128,199 ) (177,563 ) (27,863 ) Total 3,124,197 2,139,471 335,730 The movements in the allowance for credit losses were as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Beginning balance 3,589 33,989 128,199 20,117 Additions charged to bad debt expense/current expected credit loss 37,141 104,434 53,294 8,363 Reversal (465 ) (8,751 ) — — Write off (6,276 ) (1,473 ) (3,930 ) (617 ) Ending balance 33,989 128,199 177,563 27,863 |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2021 | |
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, 2020 2021 RMB RMB US$ Prepayments 299,154 216,264 33,937 Rental and other deposits 10,867 20,371 3,197 Receivables from third-party payment platform 86,777 9,899 1,553 Interest receivable 114,726 1,495 235 Staff advances 2,070 1,395 219 Other receivables 49,588 30,824 4,836 563,182 280,248 43,977 Prepayments primarily include prepaid VAT and surcharges, prepaid promotional expenses and service fee. |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Taxation | 6. TAXATION Enterprise income tax Cayman Islands The Company and certain of 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 and Auto Pai Ltd. were 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, they are 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 Link Hong Kong Limited, and TTP Car (HK) Limited were incorporated in Hong Kong. Subsidiaries in Hong Kong are subject to a two-tiered are The PRC Autohome WFOE, Chezhiying WFOE, Beijing Autohome Technologies Co., Ltd.(“Beijing Autohome Technologies”), Beijing Prbrownies, Hainan Chezhiyitong Information Technology Co., Ltd. (“Hainan Chezhiyitong”) and Tianjin Autohome are recognized as “High-New preferential tax rate until 2021, 2023, 2023, 2023, 2022 and 2022, respectively, upon the completion of their filings with the relevant tax authorities. The qualification as an HNTE is subject to annual evaluation and a three-year review by the relevant authorities in China. Chezhiying WFOE, Hainan Chezhiyitong and Tianjin Autohome are recognized as software enterprise(“SE”) and 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. Beijing Prbrownies, further enjoys a more preferential enterprise tax rate of 10% for the tax years of 2019 and 2020 as it was accredited as key software enterprise (“KSE”) under the relevant PRC laws and regulations as well, which tax rate will continue to apply for so long as it maintains its key software enterprise status during each relevant tax year. Autohome WFOE and Beijing Autohome Technologies, further enjoy a more preferential enterprise tax rate of 10% as KSE for the tax years of 2019. Except for the above-mentioned entities, the Company’s remaining PRC subsidiaries and all the VIEs were subject to enterprise income tax at a rate of 25% for 2019, 2020 and 2021. The management subsequently assessed and concluded that uncertain preferential tax rates for certain subsidiaries were able to be realized in the year of 2021 and a reversal of RMB348,593 (US$54,702 ) ) ex pense ) The basic earnings per share effects related to the preferential tax rate were RMB0.68, RMB0.97 and RMB1.11 (US$0.17 ) The New EIT Law also provides that enterprises established under the laws of foreign countries or regions and whose “place of effective management” is located within the PRC are considered PRC tax resident enterprises and subject to PRC income tax at the rate of 25% on worldwide income. The definition of “place of effective management” refers to an establishment that exercises, in substance, overall management and control over the production and business, personnel, accounting, properties, and other aspects of an enterprise. If the Company is deemed as a PRC tax resident, it would be subject to PRC tax under the New EIT Law. The Company has analyzed the applicability of this law and believes that the chance of being recognized as a tax resident enterprise is remote for PRC tax purposes. The Company’s subsidiaries incorporated in other jurisdictions were subject to income tax charges calculated according to the tax laws enacted or substantially enacted in the countries where they operate and generate income. The Company Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ PRC 3,647,316 3,770,148 2,328,917 365,458 Non-PRC 53,690 (101,636 ) (151,759 ) (23,815 ) 3,701,006 3,668,512 2,177,158 341,643 The income tax expense is comprised of: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Current 355,398 283,372 185,194 29,061 Deferred 144,963 (22,427 ) (151,188 ) (23,725 ) 500,361 260,945 34,006 5,336 The reconciliation of income tax expense for the years ended December 31, 2019, 2020 and 2021 is as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Income before income tax expense 3,701,006 3,668,512 2,177,158 341,643 Income tax expense computed at PRC statutory tax rates (25%) 925,253 917,128 544,290 85,411 Non-deductible 27,333 22,063 28,725 4,508 Research and development expenses super-deduction (194,000 ) (225,715 ) (185,801 ) (29,156 ) Change in valuation allowances 16,420 (5,285 ) 50,473 7,920 Outside basis difference (7,727 ) 142 (1,111 ) (174 ) Effect of international tax rate difference (14,440 ) 8,682 37,940 5,954 Effect of preferential tax rate (323,534 ) (463,819 ) (552,567 ) (86,712 ) Effect of withholding tax on dividend 71,056 76,610 164,946 25,884 Other adjustments (Note) — (68,861 ) (52,889 ) (8,299 ) Income tax expense 500,361 260,945 34,006 5,336 Note: This amount mainly represents tax savings relating to share-based compensation exercised in 2019 and 2020, which can be recognized under US GAAP when realized at the time of filing of the Company’s tax returns, in 2020 and 2021, respectively. Deferred tax The significant components of deferred taxes are as follows: As of December 31, 2020 2021 RMB RMB US$ Deferred tax assets Allowance for doubtful accounts 22,343 35,359 5,549 Accrued staff cost and expenses 42,091 97,883 15,360 Deferred revenue 11,214 5,551 871 Tax losses 404,178 489,664 76,839 VAT refund 2,032 351 55 Less: Valuation allowances (402,197 ) (452,670 ) (71,034 ) Total deferred tax assets 79,661 176,138 27,640 Deferred tax liabilities Identifiable intangible assets arising from acquisition 63,570 52,460 8,232 Intangible assets and internally-developed software 39,306 32,540 5,106 Outside basis difference and others 452,023 437,963 68,726 Withholding income tax 76,610 53,835 8,448 Total deferred tax liabilities 631,509 576,798 90,512 In assessing the realizability of deferred tax assets, the Company has considered whether it is more-likely-than-not more-likely-than-not As of December 31, 2021, the Company had net operating losses of approximately RMB2,022,137 (US$317,317 ) 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, 2021, the Company and On November 4, 2019, the Company’s B D ) As of December 31, 2020 and 2021, the total amount of undistributed earnings from the Company’s PRC subsidiaries and VIEs that are considered to be permanently reinvested was RMB13,674,190 and RMB14,620,442 (US$2,294,266 ) Unrecognized tax benefits As of December 31, 2020 and 2021, the Company recorded an unrecognized tax benefit of RM B and nil, respectively. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | 7. PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following: As of December 31, 2020 2021 RMB RMB US$ At cost: Electronic equipment 647,271 651,779 102,278 Office equipment 5,841 2,290 359 Motor vehicles 7,071 7,264 1,140 Software 305,552 419,326 65,801 Leasehold improvements 96,211 87,718 13,766 1,061,946 1,168,377 183,344 Less: Accumulated depreciation (651,865 ) (786,881 ) (123,479 ) 410,081 381,496 59,865 Depreciation expense was RMB106,941, RMB158,229 and RMB225,310 (US$35,356) for the years ended December 31, 2019, 2020 and 2021, respectively. |
Intangible Assets, Net
Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net | 8. INTANGIBLE ASSETS, NET The following tables present the Company December 31, 2021 Gross Carrying Accumulated Net Carrying RMB RMB RMB US$ Technologies 202,100 (40,420 ) 161,680 25,371 Trademarks 175,309 (72,237 ) 103,072 16,174 Customer relationship 46,900 (13,860 ) 33,040 5,185 Websites 27,000 (27,000 ) — — Domain names 2,954 (2,277 ) 677 106 Database 73,500 (14,700 ) 58,800 9,228 Licensing agreements 2,798 (2,636 ) 162 25 Insurance brokerage license 28,133 (28,133 ) — — 558,694 (201,263 ) 357,431 56,089 December 31, 2020 Gross Carrying Accumulated Net Carrying RMB RMB RMB Technologies 202,100 — 202,100 Trademarks 175,309 (56,993 ) 118,316 Customer relationship 46,900 (5,600 ) 41,300 Websites 27,000 (27,000 ) — Domain names 2,237 (2,012 ) 225 Database 73,500 — 73,500 Licensing agreements 2,870 (2,579 ) 291 Insurance brokerage license 28,133 (23,444 ) 4,689 558,049 (117,628 ) 440,421 The Company 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 intangible assets are amortized using the straight-line method, which is the Company best estimate of how these assets will be economically consumed over their respective estimated useful lives ranging from approximately 1.75 to 15 years. Amortization expense was RMB11,662, RMB12,045 and RMB83,710 (US$13,136 ) The annual estimated amortization expenses for the acquired intangible assets for each of the next five years are as follows: 2022 2023 2024 2025 2026 RMB RMB RMB RMB RMB Amortization expenses 81,104 76,106 74,106 74,106 10,726 |
Long-Term Investments
Long-Term Investments | 12 Months Ended |
Dec. 31, 2021 | |
Schedule of Investments [Abstract] | |
Long-Term Investments | 9. LONG-TERM INVESTMENTS As of December 31, 2020 and 2021, 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 Company 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. Visionstar Information Technology (Shanghai) Co., Ltd. (“Shanghai Visionstar”) In July 2017, the Company 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 Company determined that it can exercise significant influence over Shanghai Visionstar. Other investments The Company also holds several other investments in equity investees. The carrying amount of all of the equity method investments was RMB70,418 and RMB70,720 (US$11,098 ) No impairment charges associated with the equity method investments were recognized during any of the years presented. |
Other Non-current Assets
Other Non-current Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text Block Abstract | |
Other Non-current Assets | 10. OTHER NON-CURRENT Other non-current As of December 31, 2020 2021 RMB RMB US$ Operating lease right-of-use 209,339 133,383 20,931 Others 49,365 — — 258,704 133,383 20,931 |
Accrued Expenses and Other Paya
Accrued Expenses and Other Payables | 12 Months Ended |
Dec. 31, 2021 | |
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, 2020 2021 RMB RMB US$ Accrued rebates 797,218 646,723 101,485 Accrued expenses 737,797 550,848 86,440 Payroll and welfare payable 552,985 526,080 82,553 Operating lease liabilities - current portion 112,094 96,160 15,090 VAT and surcharges payable 85,372 31,307 4,913 Professional service fees 7,074 22,885 3,591 Deposit from customers 22,387 21,058 3,304 Payable for purchase of fixed assets 39,852 21,045 3,302 Payable for exercise of share-based awards 38,217 2,566 403 Others 184,713 125,925 19,761 2,577,709 2,044,597 320,842 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 12. RELATED PARTY TRANSACTIONS 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, 2019, 2020 and 2021, related party transactions were as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Services provided to Ping An Group (a) 447,010 621,845 417,051 65,444 Services provided to other related parties 340 — — — Net revenues from related parties 447,350 621,845 417,051 65,444 Services provided by and assets purchased from Ping An Group (b) 107,706 156,420 176,880 27,756 Services provided by and assets purchased from other related parties 15,717 5,625 714 112 Services provided by related parties 123,423 162,045 177,594 27,868 Interest income from Ping An Group 47,459 63,558 136,613 21,438 As of December 31, 2020 and 20 2 As of December 31, 2020 2021 RMB RMB US$ Amounts due from related parties, current Ping An Group (c) 47,303 83,376 13,084 Amounts due from related parties, non-current Ping An Group (c) 18,163 7,529 1,181 Amounts included in “Cash and cash equivalents” (d) 557,117 780,875 122,536 Amounts included in “Short-term investments” (d) 2,892,057 3,358,937 527,091 Amounts included in “Restricted cash” (d) 17,726 5,000 785 Amounts due to related parties Ping An Group (e) 76,048 31,182 4,893 Other related parties 3,847 715 112 79,895 31,897 5,005 (a) The amount represents (i) the commission fee for transaction facilitation service on financial product including loan and insurance products, (ii) advertising services and (iii) 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. (d) The Company has cash or time deposits in commercial banks associated with Ping An Group and purchased certain short-term cash management products managed by Ping An Group as a part of the Company’s cash management plan. (e) 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, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 13. COMMITMENTS AND CONTINGENCIES Legal proceedings From time to time, the Company is subject |
Cost of Revenues
Cost of Revenues | 12 Months Ended |
Dec. 31, 2021 | |
Cost of Revenue [Abstract] | |
Cost of Revenues | 14. COST OF REVENUES Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Content-related costs 451,212 571,516 513,735 80,616 Bandwidth and IDC fees 106,146 113,858 105,343 16,531 Tax surcharges 189,935 96,958 39,240 6,158 Depreciation and amortization expenses 31,169 29,889 23,406 3,673 Others 181,830 148,949 366,168 57,459 960,292 961,170 1,047,892 164,437 |
Ordinary Shares
Ordinary Shares | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Ordinary Shares | 15. ORDINARY SHARES As of December 31, 2021, the Company had 505,183,788 issued and outstanding ordinary shares after considering the effects of the Share Subdivision as detailed in Note 2(a). On November 18, 2021, the company announced a share repurchase program under which the Company may repurchase up to US$200,000 of its A DSs The Company repurchased 166,067 ADSs (equal to ordinary shares) from the open market with an aggregate purchase price of RMB31,204 (US$4,897) during the year ended December 31, have not been cancelled by the end of 2021 and are reflected as treasury stock. |
Restricted Net Assets
Restricted Net Assets | 12 Months Ended |
Dec. 31, 2021 | |
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 Company As a result of these PRC laws and regulations subject to the limit discussed above that require annual appropriations of 10% of after-tax ) Furthermore, cash transfers from the Company’s PRC subsidiaries to their parent companies outside of China are subject to PRC government control of currency conversion. Shortages in availability of foreign currency may temporarily restrict the ability of the PRC subsidiaries and VIEs to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations. |
Earnings Per Share_ADS
Earnings Per Share/ADS | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share/ADS | 17. EARNINGS PER SHARE/ADS Basic and diluted earnings per share for each of the years presented are calculated as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Basic earnings per share: Numerator: Net income attributable to ordinary shareholders 3,199,966 3,405,229 2,148,566 337,157 Denominator: Weighted average ordinary shares outstanding 474,328,384 477,467,268 499,861,764 499,861,764 Basic earnings per share 6.75 7.13 4.30 0.67 Diluted earnings per share: Numerator: Net income attributable to ordinary shareholders 3,199,966 3,405,229 2,148,566 337,157 Denominator: Weighted average ordinary shares outstanding 474,328,384 477,467,268 499,861,764 499,861,764 Dilutive effect of share-based awards 3,732,604 2,219,112 619,776 619,776 Weighted average number of shares outstanding-diluted 478,060,988 479,686,380 500,481,540 500,481,540 Diluted earnings per share 6.69 7.10 4.29 0.67 Earnings per ADS Net income per ADS – basic (RMB) 26.99 28.53 17.19 2.70 Net income per ADS – diluted (RMB) 26.77 28.40 17.17 2.69 The effects of 389,440, 481,828 and 455,824 stock options were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive during the years ended December 31, 2019, 2020 and 2021, respectively. The effects of 714,700, 90,536 and 1,407,232 restricted shares were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive during the years ended December 31, 2019, 2020 and 2021, respectively. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
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 t ten years. 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, 2021 511,790 63.83 41.10 7.54 18,910 Granted 385,120 47.06 23.00 Exercised (123,811 ) 45.35 Forfeited (230,271 ) 79.60 Outstanding, December 31, 2021 542,828 51.33 25.80 8.88 206 Vested and expected to vest at December 31, 2021 517,519 49.68 25.98 8.87 206 Exercisable as of December 31, 2021 104,324 50.03 35.69 6.76 206 The aggregate intrinsic value in the table above is calculated as the difference between the exercise price of the underlying awards and US$29.48, the closing stock price of the Company’s ordinary shares on December 31, 2021. The weighted-average grant-date fair value of options granted during the years ended December 31, 2019, 2020 and 2021 was US$45.26, US$40.52 and US$23.00, respectively. The total grant date fair value of options vested during the years ended December 31, 2019, 2020 and 2021 was RMB79,197, RMB58,092 and RMB32,226 (US$5,057 ) ) The aggregate fair value of the outstanding options at the grant dates were determined to be ) ) , Restricted shares Restricted shares activity for the year ended December 31, 2021 was as follows: Number of Weighted Outstanding, January 1, 2021 853,331 79.88 Granted 1,028,741 50.79 Vested (348,696 ) 74.17 Forfeited (243,217 ) 79.67 Outstanding, December 31, 2021 1,290,159 55.34 Expected to vest, December 31, 2021 1,011,422 54.83 The weighted average grant-date fair value of restricted shares granted during the years ended December 31, 2019, 2020 and 2021 was US$85.30, US$85.44 and US$50.79, 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, 2019, 2020 and 2021 was RMB141,227, RMB144,757 and RMB165,675 (US$25,998 ) ) ) The binomial option pricing model was applied in determining the estimated fair value of the options granted to employees. The model requires the input of highly subjective assumptions including the estimated expected stock price volatility and the exercise multiple for which employees are likely to exercise share options. For expected volatilities, the Company has made reference to the historical price volatilities of ordinary shares of several comparable companies in the same industry as the Company. The exercise multiple is estimated as the ratio of fair value of underlying shares over the exercise price as at the time the option is exercised and is based on a consideration of research study regarding exercise pattern based on historical statistical data. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury Bills yield curve in effect at the time of grant. The Company’s management is ultimately responsible for the determination of the estimated fair value of its options. Subsequent to the IPO, fair value of the ordinary shares was the price of the Company’s publicly traded shares. The Company calculated the estimated fair value of the share-based awards on the respective grant dates using the binomial option pricing model with the following assumptions: 2019 2020 2021 Fair value of ordinary share US$ 87.39 US$ 77.32-US$94.46 US$ 31.06-US$119.82 Risk-free interest rates 1.96% 0.62%-1.92% 1.09%-1.62% Expected exercise multiple 2.2 2.2-2.8 2.2-2.8 Expected volatility 53% 52%-53% 51%-52% Expected dividend yield 0.00% 1.00% 1.00% Weighted average fair value per option US$ 45.26 US$ 30.00 - 44.69 US$ 10.51-US$60.83 Share-based compensation expenses relating to options and restricted shares granted to employees recognized for the years ended December 31, 2019, 2020 and 2021 is as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Cost of revenues 15,508 21,372 23,142 3,631 Sales and marketing expenses 46,081 40,103 46,823 7,348 General and administrative expenses 62,884 55,868 48,803 7,658 Product development expenses 79,535 93,863 87,292 13,698 204,008 211,206 206,060 32,335 |
Acquisition
Acquisition | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Acquisition | 19. ACQUISITION 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 of US$168,000, including (i) the first closing transaction of US$143,000 in exchange for 31.48 % preferre as-converted basis; and (ii) the second closing transaction of US$ 25,000 , in exchange for an additional % preferred shares of TTP. In addition, the Company also obtained the right to purchase up to US$ 200,000 in total principal amount of convertible bonds (“New Warrant”) to be issued by TTP upon the Company’s request. The first closing transaction was completed on December 31, 2020, which would give the Company 51% voting rights at the shareholders’ level and right to appoint majority members on TTP’s Board of Directors. 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 Company’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 Total Cash consideration 935,932 Less: consideration for New Warrant (74,383 ) Purchase consideration 861,549 The Company 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 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 liabilities (861,918 ) Deferred tax liabilities (63,570 ) Noncontrolling interests (147,639 ) Convertible redeemable noncontrolling interests (Note) (1,056,237 ) 861,549 Note: TTP had previously issued 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 is not solely within the control of TTP 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 Company’s current business. The goodwill is not expected to be deductible for tax purposes. Pro forma results of operations for the TTP acquisition has not been presented because it was not material to the consolidated financial statements. |
Mezzanine Equity
Mezzanine Equity | 12 Months Ended |
Dec. 31, 2021 | |
Temporary Equity [Line Items] | |
Mezzanine Equity | 20. MEZZANINE EQUITY As of December 31, 2020 2021 2021 RMB RMB US$ Balance as of January 1 — 1,056,237 165,747 Business combinations (Note 19) 1,056,237 — — Accretion of mezzanine equity — 411,792 64,619 Balance as of December 31 1,056,237 1,468,029 230,366 Pursuant to the agreement that was entered into between the Company and TTP (Note 19), after the second closing and conversion of CB, the Company held of TTP’s equity interest on as-converted basis. As of December 31, 2020 and 2021, TTP had issued and 142,196,089 preferred shares, respectively, to certain shareholders (including shares held by one subsidiary of the Company and eliminated in consolidated financial statements), which could be converted into ordinary shares or redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of TTP. Therefore, these preferred shares were accounted for as convertible redeemable noncontrolling interests. |
Covid -19
Covid -19 | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 22. SUBSEQUENT EVENTS Equity investment in Ping An Capital Co., Ltd. In January, 2022, the Company entered into a limited partner interest subscription agreement, a limited partnership agreement and certain other auxiliary documents with Ping An Capital Co., Ltd. (the “Fund Manager”), pursuant to which the Company agrees to subscribe for RMB 400,000 worth of limited partner interests in an equity investment fund managed by the Fund Manager. Dividends On February 24, 2022, the Board of Directors was as of . |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
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: revenues (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$”), whereas the Company’s subsidiaries and VIEs with operations in the PRC, Hong Kong, and other jurisdictions generally use their respective local currencies as their functional currencies as determined based on the criteria of ASC 830 , Foreign Currency Matters re-measured re-measured operating Assets and liabilities of the Company and Company’s subsidiaries, other than the subsidiaries with the functional currency of RMB, are translated into RMB at fiscal year-end |
Convenience Translation | (e) Convenience Translation Amounts in United States dollars (“US$”) are presented for the convenience of the reader and are translated at the noon buying rate of US$1.00 to RMB6.3726 on December 3 0 |
Cash and Cash Equivalents | (f) Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, demand deposits, and time deposits placed with banks or other financial institutions which are unrestricted as to withdrawal and use and have original maturities of three months or less. |
Short-term Investments | (g) Short-term Investments Short-term investments represent bank deposits and adjustable-rate financial products with original maturities of less than 1 year that are measured at fair value. In accordance with ASC 825, Financial Instruments |
Restricted Cash and Consolidated Statements of Cash Flows | (h) Restricted Cash and Consolidated Statements of Cash Flows Restricted cash primarily represents cash deposits in a regulatory escrow account related to insurance brokerage services and application for the credit lines from bank. The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows: As of December 31, 2019 2020 2021 RMB RMB RMB US$ Amounts shown in Consolidated Balance Sheets: Cash and cash equivalents 1,988,298 1,751,222 4,236,501 664,799 Restricted cash 5,200 17,926 95,055 14,916 Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows 1,993,498 1,769,148 4,331,556 679,715 |
Fair Value Measurements of Financial Instruments | (i) Fair Value Measurements of Financial Instruments Financial instruments of the Company 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 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. |
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 – 5 years Office equipment 3 – 5 years Motor vehicles 4 – 5 years Software 3 – 5 years 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 transaction costs. Intangible assets with finite useful lives are amortized using a straight-line method of amortization that reflects the estimated pattern in which the economic benefits of the intangible asset are to be consumed. The estimated useful life for the intangible assets is as follows: Category Estimated useful life Technologies 5 years Trademarks 3-15 years Customer relationship 5 years Websites 4 years Domain names 4 - 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 Company’s goodwill at December 31, 2020 and 2021 was 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 Company represents the lowest level within the entity at which goodwill is monitored for internal management purposes. Starting from January 1, 2020, the Company adopted ASU 2017-04, more-likely-than-not ) If the Company 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. |
Impairment of Long-Lived Assets and Intangibles | (n) Impairment of Long-Lived Assets and Intangibles The Company 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 Company of long-lived assets may not be recoverable. When these events occur, the Company 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 Company 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 | (o) Revenue Recognition and Accounts Receivable The Company’s revenues are derived from media services, leads generation services and online marketplace and others. Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The recognition of revenue involves certain management judgments including identification of performance obligations, standalone selling price for each performance obligation, estimation of variable consideration represented by sales rebates, etc. The Company provides rebates to agency companies based on cumulative annual advertising and service volume, and timeliness of their payments, which are accounted for as variable consideration. The Company estimate its obligations under such agreements by applying the most likely amount method, based on an evaluation of the likelihood of the agency companies’ achievement of the advertising and service volume targets, and the timeliness of their payments, after taking into account the agency companies’ purchase trends and history. A refund liability (included in accrued expenses and other payables) is recognized for expected sales rebates payable to agency companies in relation to advertising services provided. The Company recognizes revenue for the amount of fees it receives from its clients, after deducting these sales rebates, and net of VAT collected from customers. The Company believes that there will not be significant changes to its estimates of variable consideration and updates the estimate at each reporting period as actual utilization becomes available. The Company 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 Company 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 Company 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 Company 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 Company’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 (i) data products, (ii) new and used vehicle transaction platform, and (iii) auto financing services and others. For the data products, the Company provides data-driven products and solutions for the automakers and dealers and data analysis reports and recognizes revenue over the service period of data-driven products and solutions by the automakers and dealers or at a point in time upon the delivery of reports. For the new and used vehicle transaction business, and auto-financing business, the Company 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 vehicle transaction, the Company 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 vehicle transaction, the Company 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 Company 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 Company 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 Company adopted Accounting Standards Update No. 2016-13, Practical Expedients and Exemptions The Company has elected to use the practical expedient to not disclose the remaining performance obligations for contracts that have durations of one year or less. Performance obligations to be recognized over a period in excess of one year are immaterial as of December 31, 2020 and 2021. The revenue standard requires the Company 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 Company has determined that sales commission for sales personnel meet the requirements of capitalization. However, the Company applies a practical expedient to expense these costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. |
Cost of Revenues | (p) Cost of Revenues Cost of revenues primarily consist of (i) content-related costs, (ii) bandwidth and Internet Data Center (“IDC”) fees, (iii) tax surcharges, (iv) depreciation of the Company’s long-lived assets, (v) amortization of certain acquired intangible assets, and (vi) others. 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 | (q) Advertising Expenditures Advertising expenditures which amounted to RMB , RMB and RMB (US $210,530 ) for the years ended December , , and , respectively, are expensed as incurred and are included in sales and marketing expenses. |
Product Development Expenses | (r) Product Development Expenses Product development expenses consist primarily of employee costs related to personnel involved in the development and enhancement of the Company’s service offerings on its websites and mobile applications, and expenditure for research and development activities. The Company recognizes these costs as expenses when incurred, unless they qualify for capitalization as software development costs. Capitalized software development costs have not been material for the periods presented. |
Leases | (s) Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases 2016-02”). The Company has elected to utilize the package of practical expedients at the time of adoption, which allows the Company 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 Company did not recognize operating lease right-of-use The Company determines if an arrangement is a lease and determines the classification of the lease, as either operating or finance, at commencement. The Company has operating leases for office buildings and data centers and has no finance leases as of December 31, 2020 and 2021. 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 Company’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 Company 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 Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s lease agreements contain both lease and non-lease As of December 31, 2020 and 2021, the Company recognized the following items related to operating lease in its consolidated balance sheets. As of December 31, 2020 2021 RMB RMB US$ O perating lease RO 209,339 133,383 20,931 O p erating lease liabilities, current p 112,094 96,160 15,090 Operating lease liabilities, non-current 90,614 28,619 4,492 Lease cost recognized in the Company’s consolidated statements of comprehensive income is summarized as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Operating lease cost 128,507 117,479 131,529 20,640 Cost of other leases with terms less than one year 64,163 96,065 99,923 15,680 Maturities of operating lease liabilities as of December 31, 2021 are as follows: Amounts RMB US$ 2021 — — 2022 97,954 15,371 2023 26,846 4,213 2024 5,917 929 2025 491 77 Total lease payments 131,208 20,590 Less imputed interest (6,429 ) (1,008 ) Total 124,779 19,582 As of December 31, 2021, the Company As of December 31, 2020 and 2021, the Company does not have any significant operating or finance leases that have not yet commenced. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company leased office space and data centers from its related party, Ping An Company for a total amount of RMB72,185, RMB119,855 and RMB138,009 (US$21,657 ) |
Income Taxes | (t) Income Taxes The Company Company more-likely-than-not The Company applies ASC 740, Accounting for Income Taxes The Company’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 Company’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 Company 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 | (u) Earnings Per Share Earnings per share are calculated in accordance with ASC 260-10, 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 | (v) 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 |
Noncontrolling interests | (w) 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 Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated statements of comprehensive income to distinguish the interests from that of the Company. |
Segment Reporting | (x) Segment Reporting In accordance with ASC 280-10, Segment Reporting: Overall Company’s Company Company Company Company’s |
Employee Benefits | (y) 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 RMB344,829, RMB241,951 and RMB418,517 (US$65,677 ) |
Share-based Compensation | (z) 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 operating income, net | (aa) Other operating income, net Value Added Tax (“VAT”) refunds are presented as a component of other operating income, net. For Beijing Prbrownies Software Co., Ltd. (“Beijing Prbrownies”) and Tianjin Autohome Software Co., Ltd. (“Tianjin Autohome”, formerly known as Tianjin Autohome Data Information Technology Co., Ltd.)., they are subject to 13% VAT (or 16% VAT before April 1, 2019 ) ) ) operating Other operating ) op e |
Commitment and contingencies | (bb) Commitment and contingencies From time to time, the Company |
Business Combinations | (cc) Business Combinations The Company 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 Company 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. |
Mezzanine Equity | (dd) Mezzanine Equity The Company’s acquired subsidiary had issued preferred shares to the Company and other shareholders (Note 20), which could be converted into ordinary shares or redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of the entity. Therefore, these preferred shares were accounted for as convertible redeemable noncontrolling interests in the consolidated balance sheets. The Company accounts for the changes in accretion to the redemption value in accordance with ASC Topic 480, Distinguishing Liabilities from Equity. For the determination of fair value, option pricing model was used. The major unobservable input used in the option pricing model included equity value of underlying business, which was determined by management using valuation techniques under the combination of income approach and market approach. The significant assumptions used in income approach included revenue growth rate and discount rate, and those used in market approach included revenue growth rate and selection of earning multiples. |
Recent Accounting Pronouncements | (ee) Recent Accounting Pronouncements In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements. |
Concentration of Risk | (ff) Concentration of Risk Credit risk Financial instruments that potentially subject the Company 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, 2020, and 2021, cash and cash equivalents, restricted cash and short-term investments altogether amounting to RMB14,647,324 and RMB20,827,823 (US$3,268,339 ) Company’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 Company continues to monitor the financial strength of these financial institutions. Accounts receivable are typically unsecured and derived from revenue earned from customers, which are exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring process of outstanding balances. The Company maintains reserves for allowance of doubtful accounts and these allowances have generally been within expectations. There were no customer and one customer that individually represented greater than 10% of the total accounts receivable as of December 31, 2020 and 2021. Business, customer, political, social and economic risks The Company 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 Company’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 Company, 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 Company’s ability to attract and retain employees necessary to support its growth. There were no customer that individually represented greater than 10% of the total net revenues for the years ended December 31, 2019, 2020 and 2021, respectively. Currency convertibility risk The Company 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 1.2%, appreciation of 6.7%, and appreciation of 2.4% for the years ended December 31, 2019, 2020 and 2021, respectively. Any significant appreciation or depreciation of the RMB may materially and adversely affect the Company’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 Company Company’s earnings, which in turn could adversely affect the price of ADSs. |
Organization (Tables)
Organization (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Principal Subsidiaries of Company | As of December 31, 2021, 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 Link Inc. January 29, 2015 Cayman Islands 100% 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 Media”, formerly known as Prbrownies Marketing Limited) 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 Inc. (“TTP”) June 12, 2015 Cayman Islands 51% (Note) Auto Pai Ltd. September 25, 2020 British Virgin Islands 51% TTP Car (HK) Limited June 23, 2015 Hong Kong 51% 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% Beijing Chezhiying Technology Co., Ltd. (“Chezhiying WFOE”) May 26, 2015 PRC 100% Guangzhou Autohome Advertising Co., Ltd. November 25, 2013 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 Software 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 51% 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 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, consolidat e As of December 31, 2020 2021 RMB RMB US$ Current assets 558,442 735,968 115,489 Non-current 2,077,768 1,922,848 301,737 Total assets 2,636,210 2,658,816 417,226 Accrued expenses and other payables 497,742 255,661 40,119 Advance from customers 87,604 88,699 13,919 Deferred revenue 17,644 31,485 4,941 Inter-company payables 103,393 524,983 82,381 Total current liabilities 706,383 900,828 141,360 Other liabilities 9,054 4,202 659 Deferred tax liabilities 66,247 56,462 8,860 Total non-current 75,301 60,664 9,519 Total liabilities 781,684 961,492 150,879 Net assets 1,854,526 1,697,324 266,347 Note: The non-current assets, total assets and net assets of VIEs and VIEs’ subsidiaries as of December 31, 2020 have been revised to increase the intangible assets by RMB 423,800 from amounts previously presented, to correct an immaterial disclosure error under which certain intangible assets were omitted from the presentation. Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Net revenues 702,040 700,608 948,520 148,844 Net (loss)/income (848 ) 23,342 (89,397 ) (14,028 ) Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Net cash (used in)/generated from operating activities (446,358 ) 23,147 411,966 64,646 Net cash generated /(used in) 478,513 193,190 (386,343 ) (60,626 ) Net cash generated from financing activities — — 163,424 25,645 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2019 2020 2021 RMB RMB RMB US$ Amounts shown in Consolidated Balance Sheets: Cash and cash equivalents 1,988,298 1,751,222 4,236,501 664,799 Restricted cash 5,200 17,926 95,055 14,916 Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows 1,993,498 1,769,148 4,331,556 679,715 |
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 – 5 years Office equipment 3 – 5 years Motor vehicles 4 – 5 years Software 3 – 5 years Leasehold improvements Shorter of lease term or the estimated useful lives of the assets |
Schedule of Estimated Useful Life of Intangible Assets | The estimated useful life for the intangible assets is as follows: Category Estimated useful life Technologies 5 years Trademarks 3-15 years Customer relationship 5 years Websites 4 years Domain names 4 - Database 5 years Licensing agreements 1.75 years Insurance brokerage license 4 years |
Lease, Cost | Lease cost recognized in the Company’s consolidated statements of comprehensive income is summarized as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Operating lease cost 128,507 117,479 131,529 20,640 Cost of other leases with terms less than one year 64,163 96,065 99,923 15,680 |
Lessee, Operating Lease, Liability, Maturity | Maturities of operating lease liabilities as of December 31, 2021 are as follows: Amounts RMB US$ 2021 — — 2022 97,954 15,371 2023 26,846 4,213 2024 5,917 929 2025 491 77 Total lease payments 131,208 20,590 Less imputed interest (6,429 ) (1,008 ) Total 124,779 19,582 |
Schedule of Operating Lease in its Unaudited Consolidated Balance Sheet | As of December 31, 2020 and 2021, the Company recognized the following items related to operating lease in its consolidated balance sheets. As of December 31, 2020 2021 RMB RMB US$ O perating lease RO 209,339 133,383 20,931 O p erating lease liabilities, current p 112,094 96,160 15,090 Operating lease liabilities, non-current 90,614 28,619 4,492 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, RMB RMB RMB RMB US$ Cash equivalents Time deposits — 892,598 — 892,598 140,068 Short-term investments Term deposits — 10,484,066 — 10,484,066 1,645,179 Adjustable-rate financial products — 6,007,859 — 6,007,859 942,764 Equity investments with readily determinable fair value 4,342 — — 4,342 681 Restricted cash — 95,055 — 95,055 14,916 4,342 17,479,578 — 17,483,920 2,743,608 Fair Value Measurement at Quoted Prices Significant Other Unobservable Fair Value at December 31, RMB RMB RMB RMB Cash equivalents Time deposits — 268,634 — 268,634 Short-term investments Term deposits — 7,286,100 — 7,286,100 Adjustable-rate financial products — 5,592,076 — 5,592,076 Restricted cash — 17,926 — 17,926 — 13,164,736 — 13,164,736 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Accounts Receivable and Allowance for Doubtful Accounts | Accounts receivable and allowance for credit losses consist of the following: As of December 31, 2020 2021 RMB RMB US$ Accounts receivable 3,252,396 2,317,034 363,593 Allowance for credit losses (128,199 ) (177,563 ) (27,863 ) Total 3,124,197 2,139,471 335,730 |
Schedule of Analysis of Allowance for Doubtful Accounts | The movements in the allowance for credit losses were as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Beginning balance 3,589 33,989 128,199 20,117 Additions charged to bad debt expense/current expected credit loss 37,141 104,434 53,294 8,363 Reversal (465 ) (8,751 ) — — Write off (6,276 ) (1,473 ) (3,930 ) (617 ) Ending balance 33,989 128,199 177,563 27,863 |
Prepaid Expenses and Other Cu_2
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2020 2021 RMB RMB US$ Prepayments 299,154 216,264 33,937 Rental and other deposits 10,867 20,371 3,197 Receivables from third-party payment platform 86,777 9,899 1,553 Interest receivable 114,726 1,495 235 Staff advances 2,070 1,395 219 Other receivables 49,588 30,824 4,836 563,182 280,248 43,977 Prepayments primarily include prepaid VAT and surcharges, prepaid promotional expenses and service fee. |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income before Income/(Loss) Tax Expenses | The Company Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ PRC 3,647,316 3,770,148 2,328,917 365,458 Non-PRC 53,690 (101,636 ) (151,759 ) (23,815 ) 3,701,006 3,668,512 2,177,158 341,643 |
Income Tax Expense | The income tax expense is comprised of: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Current 355,398 283,372 185,194 29,061 Deferred 144,963 (22,427 ) (151,188 ) (23,725 ) 500,361 260,945 34,006 5,336 |
Reconciliation of Income Tax Expense | The reconciliation of income tax expense for the years ended December 31, 2019, 2020 and 2021 is as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Income before income tax expense 3,701,006 3,668,512 2,177,158 341,643 Income tax expense computed at PRC statutory tax rates (25%) 925,253 917,128 544,290 85,411 Non-deductible 27,333 22,063 28,725 4,508 Research and development expenses super-deduction (194,000 ) (225,715 ) (185,801 ) (29,156 ) Change in valuation allowances 16,420 (5,285 ) 50,473 7,920 Outside basis difference (7,727 ) 142 (1,111 ) (174 ) Effect of international tax rate difference (14,440 ) 8,682 37,940 5,954 Effect of preferential tax rate (323,534 ) (463,819 ) (552,567 ) (86,712 ) Effect of withholding tax on dividend 71,056 76,610 164,946 25,884 Other adjustments (Note) — (68,861 ) (52,889 ) (8,299 ) Income tax expense 500,361 260,945 34,006 5,336 Note: This amount mainly represents tax savings relating to share-based compensation exercised in 2019 and 2020, which can be recognized under US GAAP when realized at the time of filing of the Company’s tax returns, in 2020 and 2021, respectively. |
Components of Deferred Taxes | Deferred tax The significant components of deferred taxes are as follows: As of December 31, 2020 2021 RMB RMB US$ Deferred tax assets Allowance for doubtful accounts 22,343 35,359 5,549 Accrued staff cost and expenses 42,091 97,883 15,360 Deferred revenue 11,214 5,551 871 Tax losses 404,178 489,664 76,839 VAT refund 2,032 351 55 Less: Valuation allowances (402,197 ) (452,670 ) (71,034 ) Total deferred tax assets 79,661 176,138 27,640 Deferred tax liabilities Identifiable intangible assets arising from acquisition 63,570 52,460 8,232 Intangible assets and internally-developed software 39,306 32,540 5,106 Outside basis difference and others 452,023 437,963 68,726 Withholding income tax 76,610 53,835 8,448 Total deferred tax liabilities 631,509 576,798 90,512 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment consist of the following: As of December 31, 2020 2021 RMB RMB US$ At cost: Electronic equipment 647,271 651,779 102,278 Office equipment 5,841 2,290 359 Motor vehicles 7,071 7,264 1,140 Software 305,552 419,326 65,801 Leasehold improvements 96,211 87,718 13,766 1,061,946 1,168,377 183,344 Less: Accumulated depreciation (651,865 ) (786,881 ) (123,479 ) 410,081 381,496 59,865 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets with Definite Lives | The following tables present the Company December 31, 2021 Gross Carrying Accumulated Net Carrying RMB RMB RMB US$ Technologies 202,100 (40,420 ) 161,680 25,371 Trademarks 175,309 (72,237 ) 103,072 16,174 Customer relationship 46,900 (13,860 ) 33,040 5,185 Websites 27,000 (27,000 ) — — Domain names 2,954 (2,277 ) 677 106 Database 73,500 (14,700 ) 58,800 9,228 Licensing agreements 2,798 (2,636 ) 162 25 Insurance brokerage license 28,133 (28,133 ) — — 558,694 (201,263 ) 357,431 56,089 December 31, 2020 Gross Carrying Accumulated Net Carrying RMB RMB RMB Technologies 202,100 — 202,100 Trademarks 175,309 (56,993 ) 118,316 Customer relationship 46,900 (5,600 ) 41,300 Websites 27,000 (27,000 ) — Domain names 2,237 (2,012 ) 225 Database 73,500 — 73,500 Licensing agreements 2,870 (2,579 ) 291 Insurance brokerage license 28,133 (23,444 ) 4,689 558,049 (117,628 ) 440,421 |
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: 2022 2023 2024 2025 2026 RMB RMB RMB RMB RMB Amortization expenses 81,104 76,106 74,106 74,106 10,726 |
Other Non-current Assets (Table
Other Non-current Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block Abstract | |
Schedule of Other Non-Current Assets | Other non-current As of December 31, 2020 2021 RMB RMB US$ Operating lease right-of-use 209,339 133,383 20,931 Others 49,365 — — 258,704 133,383 20,931 |
Accrued Expenses and Other Pa_2
Accrued Expenses and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2020 2021 RMB RMB US$ Accrued rebates 797,218 646,723 101,485 Accrued expenses 737,797 550,848 86,440 Payroll and welfare payable 552,985 526,080 82,553 Operating lease liabilities - current portion 112,094 96,160 15,090 VAT and surcharges payable 85,372 31,307 4,913 Professional service fees 7,074 22,885 3,591 Deposit from customers 22,387 21,058 3,304 Payable for purchase of fixed assets 39,852 21,045 3,302 Payable for exercise of share-based awards 38,217 2,566 403 Others 184,713 125,925 19,761 2,577,709 2,044,597 320,842 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | During the years ended December 31, 2019, 2020 and 2021, related party transactions were as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Services provided to Ping An Group (a) 447,010 621,845 417,051 65,444 Services provided to other related parties 340 — — — Net revenues from related parties 447,350 621,845 417,051 65,444 Services provided by and assets purchased from Ping An Group (b) 107,706 156,420 176,880 27,756 Services provided by and assets purchased from other related parties 15,717 5,625 714 112 Services provided by related parties 123,423 162,045 177,594 27,868 Interest income from Ping An Group 47,459 63,558 136,613 21,438 |
Balances with Related Parties | As of December 31, 2020 and 20 2 As of December 31, 2020 2021 RMB RMB US$ Amounts due from related parties, current Ping An Group (c) 47,303 83,376 13,084 Amounts due from related parties, non-current Ping An Group (c) 18,163 7,529 1,181 Amounts included in “Cash and cash equivalents” (d) 557,117 780,875 122,536 Amounts included in “Short-term investments” (d) 2,892,057 3,358,937 527,091 Amounts included in “Restricted cash” (d) 17,726 5,000 785 Amounts due to related parties Ping An Group (e) 76,048 31,182 4,893 Other related parties 3,847 715 112 79,895 31,897 5,005 (a) The amount represents (i) the commission fee for transaction facilitation service on financial product including loan and insurance products, (ii) advertising services and (iii) 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. (d) The Company has cash or time deposits in commercial banks associated with Ping An Group and purchased certain short-term cash management products managed by Ping An Group as a part of the Company’s cash management plan. (e) 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, 2021 | |
Cost of Revenue [Abstract] | |
Schedule of Cost of Revenues | Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Content-related costs 451,212 571,516 513,735 80,616 Bandwidth and IDC fees 106,146 113,858 105,343 16,531 Tax surcharges 189,935 96,958 39,240 6,158 Depreciation and amortization expenses 31,169 29,889 23,406 3,673 Others 181,830 148,949 366,168 57,459 960,292 961,170 1,047,892 164,437 |
Earnings Per Share_ADS (Tables)
Earnings Per Share/ADS (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2019 2020 2021 RMB RMB RMB US$ Basic earnings per share: Numerator: Net income attributable to ordinary shareholders 3,199,966 3,405,229 2,148,566 337,157 Denominator: Weighted average ordinary shares outstanding 474,328,384 477,467,268 499,861,764 499,861,764 Basic earnings per share 6.75 7.13 4.30 0.67 Diluted earnings per share: Numerator: Net income attributable to ordinary shareholders 3,199,966 3,405,229 2,148,566 337,157 Denominator: Weighted average ordinary shares outstanding 474,328,384 477,467,268 499,861,764 499,861,764 Dilutive effect of share-based awards 3,732,604 2,219,112 619,776 619,776 Weighted average number of shares outstanding-diluted 478,060,988 479,686,380 500,481,540 500,481,540 Diluted earnings per share 6.69 7.10 4.29 0.67 Earnings per ADS Net income per ADS – basic (RMB) 26.99 28.53 17.19 2.70 Net income per ADS – diluted (RMB) 26.77 28.40 17.17 2.69 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 511,790 63.83 41.10 7.54 18,910 Granted 385,120 47.06 23.00 Exercised (123,811 ) 45.35 Forfeited (230,271 ) 79.60 Outstanding, December 31, 2021 542,828 51.33 25.80 8.88 206 Vested and expected to vest at December 31, 2021 517,519 49.68 25.98 8.87 206 Exercisable as of December 31, 2021 104,324 50.03 35.69 6.76 206 |
Schedule of Restricted Shares Activity | Restricted shares activity for the year ended December 31, 2021 was as follows: Number of Weighted Outstanding, January 1, 2021 853,331 79.88 Granted 1,028,741 50.79 Vested (348,696 ) 74.17 Forfeited (243,217 ) 79.67 Outstanding, December 31, 2021 1,290,159 55.34 Expected to vest, December 31, 2021 1,011,422 54.83 |
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: 2019 2020 2021 Fair value of ordinary share US$ 87.39 US$ 77.32-US$94.46 US$ 31.06-US$119.82 Risk-free interest rates 1.96% 0.62%-1.92% 1.09%-1.62% Expected exercise multiple 2.2 2.2-2.8 2.2-2.8 Expected volatility 53% 52%-53% 51%-52% Expected dividend yield 0.00% 1.00% 1.00% Weighted average fair value per option US$ 45.26 US$ 30.00 - 44.69 US$ 10.51-US$60.83 |
Schedule of Share-Based Compensation Expenses | Share-based compensation expenses relating to options and restricted shares granted to employees recognized for the years ended December 31, 2019, 2020 and 2021 is as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB US$ Cost of revenues 15,508 21,372 23,142 3,631 Sales and marketing expenses 46,081 40,103 46,823 7,348 General and administrative expenses 62,884 55,868 48,803 7,658 Product development expenses 79,535 93,863 87,292 13,698 204,008 211,206 206,060 32,335 |
Acquisition (Tables)
Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | Amount RMB Total Cash consideration 935,932 Less: consideration for New Warrant (74,383 ) Purchase consideration 861,549 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Amount Amortization RMB 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 liabilities (861,918 ) Deferred tax liabilities (63,570 ) Noncontrolling interests (147,639 ) Convertible redeemable noncontrolling interests (Note) (1,056,237 ) 861,549 |
Mezzanine Equity (Tables)
Mezzanine Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Temporary Equity [Line Items] | |
Summary of Mezzanine Equity | As of December 31, 2020 2021 2021 RMB RMB US$ Balance as of January 1 — 1,056,237 165,747 Business combinations (Note 19) 1,056,237 — — Accretion of mezzanine equity — 411,792 64,619 Balance as of December 31 1,056,237 1,468,029 230,366 |
Organization - Additional Infor
Organization - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Mar. 15, 2021CNY (¥)shares | Dec. 31, 2013USD ($)shares | Nov. 30, 2014USD ($)shares | Dec. 31, 2021CNY (¥)Customershares | Dec. 31, 2021USD ($)Customer | Dec. 31, 2020CNY (¥)Customershares | Dec. 31, 2019CNY (¥)shares | Dec. 31, 2017 | Dec. 31, 2014shares | Dec. 31, 2021USD ($)shares | Dec. 31, 2018shares | Feb. 22, 2017 | Jun. 30, 2016 | Jun. 27, 2008 | Jun. 23, 2008 | |
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Proceeds from issuance of shares | ¥ 3,565,843 | $ 559,559 | ||||||||||||||
Ordinary shares, shares issued | 505,183,788 | 479,219,628 | 505,183,788 | |||||||||||||
Ordinary shares outstanding | [1] | 505,183,788 | 479,219,628 | 475,706,748 | 505,183,788 | 472,225,380 | ||||||||||
No of ordinary shares per Ads after division | Customer | 4 | 4 | ||||||||||||||
No of ordinary shares per Ads before division | Customer | 1 | 1 | 1 | |||||||||||||
Global Offering Including Over Allotment Option [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Newly issued shares through offering | 24,738,400 | |||||||||||||||
Global Offering Over Allotment Option [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Newly issued shares through offering | 4,544,000 | |||||||||||||||
Global Offering [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Net proceeds from Global offering | ¥ | ¥ 4,294,850 | |||||||||||||||
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 | |||||||||||||||
VIE Structure Concentration Risk [Member] | Net Revenues [Member] | Customer [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Concentration percentage | 13.10% | 13.10% | 8.10% | 8.30% | ||||||||||||
VIE Structure Concentration Risk [Member] | Assets, Total [Member] | Customer [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Concentration percentage | 8.70% | 8.70% | 10.60% | |||||||||||||
VIE Structure Concentration Risk [Member] | Liabilities, Total [Member] | Customer [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Concentration percentage | 9.50% | 9.50% | 13.80% | |||||||||||||
Consolidated VIEs [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Amounts due from PRC subsidiaries | ¥ 183,335 | ¥ 129,223 | $ 28,769 | |||||||||||||
Inter-company balances between VIE and WFOE and Autohome HK | 524,983 | 103,393 | $ 82,381 | |||||||||||||
Error corrections and prior period adjustments | ¥ | 423,800 | |||||||||||||||
Consolidated VIEs [Member] | Inter Company Revenues [Member] | ||||||||||||||||
Summary of Investment Holdings [Line Items] | ||||||||||||||||
Service fee | ¥ 131,524 | $ 20,639 | ¥ 173,299 | ¥ 113,430 | ||||||||||||
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 | 44.50% | 44.50% | 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, 2021 | |
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 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 | 51.00% |
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 | 51.00% |
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% |
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 | Nov. 25, 2013 |
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 Software Co Ltd [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 | 51.00% |
Auto Pai Ltd [Member] | |
Organization [Line Items] | |
Date of incorporation or acquisition | Sep. 25, 2020 |
Place of incorporation | British Virgin Islands |
Percentage of direct ownership by the Company | 51.00% |
Organization - Schedule of VIEs
Organization - Schedule of VIEs (Detail) - Consolidated VIEs [Member] | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2021USD ($) | |
Variable Interest Entity [Line Items] | |||||
Current assets | ¥ 23,325,718 | ¥ 18,364,080 | $ 3,660,314 | ||
Non-current assets | 5,203,288 | 5,366,765 | 816,510 | ||
Total assets | 28,529,006 | 23,730,845 | 4,476,824 | ||
Accrued expenses and other payables | 2,044,597 | 2,577,709 | 320,842 | ||
Advance from customers | 123,370 | 127,235 | 19,359 | ||
Total current liabilities (including current liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB602,990 and RMB375,845 (US$58,978) as of December 31, 2020 and 2021, respectively) | 3,986,219 | 4,185,683 | 625,524 | ||
Other liabilities | 28,619 | 104,861 | 4,492 | ||
Deferred tax liabilities | 576,798 | 631,509 | 90,512 | ||
Total non-current liabilities | 605,417 | 736,370 | 95,004 | ||
Total liabilities | 4,591,636 | 4,922,053 | 720,528 | ||
Net revenues | 7,237,004 | $ 1,135,644 | 8,658,559 | ¥ 8,420,751 | |
Net income/(loss) | 2,248,785 | 352,883 | 3,405,229 | 3,199,966 | |
VIEs [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Current assets | 735,968 | 558,442 | 115,489 | ||
Non-current assets | 1,922,848 | 2,077,768 | 301,737 | ||
Total assets | 2,658,816 | 2,636,210 | 417,226 | ||
Accrued expenses and other payables | 255,661 | 497,742 | 40,119 | ||
Advance from customers | 88,699 | 87,604 | 13,919 | ||
Deferred revenue | 31,485 | 17,644 | 4,941 | ||
Inter-company payables | 524,983 | 103,393 | 82,381 | ||
Total current liabilities (including current liabilities of consolidated VIEs without recourse to Autohome WFOE, Chezhiying WFOE or TTP WFOE of RMB602,990 and RMB375,845 (US$58,978) as of December 31, 2020 and 2021, respectively) | 900,828 | 706,383 | 141,360 | ||
Other liabilities | 4,202 | 9,054 | 659 | ||
Deferred tax liabilities | 56,462 | 66,247 | 8,860 | ||
Total non-current liabilities | 60,664 | 75,301 | 9,519 | ||
Total liabilities | 961,492 | 781,684 | 150,879 | ||
Net assets | 1,697,324 | 1,854,526 | $ 266,347 | ||
Net revenues | 948,520 | 148,844 | 700,608 | 702,040 | |
Net income/(loss) | (89,397) | (14,028) | 23,342 | (848) | |
Net cash generated (used in)/ from operating activities | 411,966 | 64,646 | 23,147 | (446,358) | |
Net cash generated/(used in) from investing activities | (386,343) | (60,626) | 193,190 | 478,513 | |
Net cash generated from financing activities | ¥ 163,424 | $ 25,645 | ¥ 0 | ¥ 0 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, ¥ in Thousands | Feb. 05, 2021USD ($)$ / sharesshares | Apr. 01, 2019 | Mar. 30, 2019 | May 01, 2018 | Dec. 31, 2021CNY (¥)SegmentCustomershares | Dec. 31, 2021USD ($)SegmentCustomer | Dec. 31, 2020CNY (¥)Customershares | Dec. 31, 2019CNY (¥)Customer | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 30, 2021 | Dec. 31, 2020$ / shares | |
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | ||||||||||||
Exchange rate of one US$ to RMB | 6.3726 | |||||||||||
Goodwill | ¥ 4,071,391 | ¥ 4,071,391 | $ 638,890,000 | |||||||||
Goodwill, impairment loss | ¥ | 0 | 0 | ¥ 0 | |||||||||
Deferred revenue, revenue recognized | 1,315,667 | $ 206,457,000 | ||||||||||
Contract liability | ¥ | ¥ 0 | |||||||||||
Revenue, practical expedient, incremental cost of obtaining contract | true | true | ||||||||||
Advertising expenditures | ¥ 1,341,623 | $ 210,530,000 | 1,795,330 | 1,649,660 | ||||||||
Number of operating segment | Segment | 1 | 1 | ||||||||||
Total expenses for employee benefits | ¥ 418,517 | $ 65,677,000 | ¥ 241,951 | ¥ 344,829 | ||||||||
Foreign currency exchange rate appreciation (depreciation) | 2.40% | 2.40% | 6.70% | (1.20%) | ||||||||
Weighted Average Remaining Lease Term | 1 year 1 month 6 days | 1 year 1 month 6 days | ||||||||||
Weighted average discount rate | 6.69% | 6.69% | ||||||||||
Operating leases, rental expenses | ¥ 138,009 | $ 21,657,000 | ¥ 119,855 | ¥ 72,185 | ||||||||
Common stock shares value | [1] | ¥ 8,523 | ¥ 8,089 | $ 1,337,000 | ||||||||
Common stock shares authorised | shares | 400,000,000,000 | 400,000,000,000 | 400,000,000,000 | |||||||||
Common stock shares par value per share | $ / shares | $ 0.0025 | $ 0.0025 | ||||||||||
Gain loss on short term investment | ¥ 164,070 | 25,746,000 | ||||||||||
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 | |||||||||||
Other income, net | ||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | ||||||||||||
Government grants | 51,685 | 8,111,000 | ¥ 210,022 | 147,694 | ||||||||
Vat Refunds | 231,452 | $ 36,320,000 | 218,412 | ¥ 293,008 | ||||||||
Credit Concentration Risk [Member] | ||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | ||||||||||||
Cash and cash equivalents, restricted cash and term deposits | ¥ 20,827,823 | ¥ 14,647,324 | $ 3,268,339,000 | |||||||||
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 | ||||||||
Customer Concentration Risk [Member] | Net Revenues [Member] | Customer [Member] | ||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | ||||||||||||
Concentration risk percentage | 10.00% | 10.00% | 10.00% | 10.00% | ||||||||
Beijing Prbrownies Software Co., Ltd. | Other income, net | ||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | ||||||||||||
Value added tax refund rate | 13.00% | 10.00% | 10.00% | |||||||||
Tianjin Autohome Software Co., Ltd. [Member] | Other income, net | ||||||||||||
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 rate after refund | 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] | Tianjin Autohome Software Co., Ltd. [Member] | Other income, net | Maximum [Member] | ||||||||||||
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items] | ||||||||||||
Value added tax rate | 16.00% | 13.00% | 13.00% | |||||||||
Value added tax rate after refund | 3.00% | 3.00% | ||||||||||
[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). |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Accounting Policies [Abstract] | ||||||
Cash and cash equivalents | ¥ 4,236,501 | $ 664,799 | ¥ 1,751,222 | ¥ 1,988,298 | ||
Restricted cash | 95,055 | 14,916 | 17,926 | 5,200 | ||
Total cash, cash equivalents and restricted cash as shown in Consolidated Statements of Cash Flows | ¥ 4,331,556 | $ 679,715 | ¥ 1,769,148 | $ 277,618 | ¥ 1,993,498 | ¥ 216,970 |
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, 2021 | |
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, 2021 | Dec. 31, 2020 | |
Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated useful life | 1 year 9 months | 1 year 9 months |
Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated useful life | 15 years | 15 years |
Technologies [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, Estimated useful life | 5 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 | |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Operating lease ROU assets | ¥ 133,383 | $ 20,931 | ¥ 209,339 |
Operating lease liabilities, current portion | ¥ 96,160 | $ 15,090 | ¥ 112,094 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets, Noncurrent | Other Assets, Noncurrent | Other Assets, Noncurrent |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accounts Payable and Accrued Liabilities, Current | Accounts Payable and Accrued Liabilities, Current | Accounts Payable and Accrued Liabilities, Current |
Other liabilities [Member] | |||
Operating lease liabilities, non-current portion | ¥ 28,619 | $ 4,492 | ¥ 90,614 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Schedule of Lease Cost (Detail) - Cost of revenues and operating expenses [Member] ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Operating lease cost | ¥ 131,529 | $ 20,640 | ¥ 117,479 | ¥ 128,507 |
Cost of other leases with terms less than one year | ¥ 99,923 | $ 15,680 | ¥ 96,065 | ¥ 64,163 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Summary Of Maturities Of Lease Liabilities Under Operating Leases (Detail) - Dec. 31, 2021 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
2022 | ¥ 97,954 | $ 15,371 |
2023 | 26,846 | 4,213 |
2024 | 5,917 | 929 |
2025 | 491 | 77 |
Total lease payment | 131,208 | 20,590 |
Less imputed interest | (6,429) | (1,008) |
Total | ¥ 124,779 | $ 19,582 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 30, 2021CNY (¥) | Dec. 31, 2020CNY (¥) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted cash | ¥ 95,055 | $ 14,916 | ¥ 17,926 | |
Assets measured at fair value on recurring basis | 17,483,920 | 2,743,608 | 13,164,736 | |
Time Deposits [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash equivalents | 892,598 | 140,068 | 268,634 | |
Term Deposits [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | 10,484,066 | 1,645,179 | 7,286,100 | |
Adjustable-Rate Financial Products [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | 6,007,859 | 942,764 | 5,592,076 | |
Equity investments with readily determinable fair value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | 4,342 | $ 681 | ||
Fair Value Measurement Using Inputs Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets measured at fair value on recurring basis | ¥ 4,342 | |||
Fair Value Measurement Using Inputs Level 1 [Member] | Equity investments with readily determinable fair value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | ¥ 4,342 | |||
Fair Value Measurement Using Inputs Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted cash | 95,055 | 17,926 | ||
Assets measured at fair value on recurring basis | 17,479,578 | 13,164,736 | ||
Fair Value Measurement Using Inputs Level 2 [Member] | Time Deposits [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash equivalents | 892,598 | 268,634 | ||
Fair Value Measurement Using Inputs Level 2 [Member] | Term Deposits [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | 10,484,066 | 7,286,100 | ||
Fair Value Measurement Using Inputs Level 2 [Member] | Adjustable-Rate Financial Products [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | 6,007,859 | ¥ 5,592,076 | ||
Fair Value Measurement Using Inputs Level 2 [Member] | Equity investments with readily determinable fair value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Short-term investments | ¥ 0 |
Accounts Receivable, Net - Sche
Accounts Receivable, Net - Schedule of Accounts Receivable and Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Receivables [Abstract] | ||||||
Accounts receivable | ¥ 2,317,034 | $ 363,593 | ¥ 3,252,396 | |||
Allowance for credit losses | (177,563) | (27,863) | (128,199) | $ (20,117) | ¥ (33,989) | ¥ (3,589) |
Total | ¥ 2,139,471 | $ 335,730 | ¥ 3,124,197 |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Receivables [Abstract] | ||||
Beginning balance | ¥ 128,199 | $ 20,117 | ¥ 33,989 | ¥ 3,589 |
Additions charged to bad debt expense/current expected credit loss | 53,294 | 8,363 | 104,434 | 37,141 |
Reversal | (8,751) | (465) | ||
Write off | (3,930) | (617) | (1,473) | (6,276) |
Ending balance | ¥ 177,563 | $ 27,863 | ¥ 128,199 | ¥ 33,989 |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||||
Prepayments | [1] | ¥ 216,264 | $ 33,937 | ¥ 299,154 |
Rental and other deposits | 20,371 | 3,197 | 10,867 | |
Receivables from third-party payment platform | 9,899 | 1,553 | 86,777 | |
Interest receivable | 1,495 | 235 | 114,726 | |
Staff advances | 1,395 | 219 | 2,070 | |
Other receivables | 30,824 | 4,836 | 49,588 | |
Prepaid expenses and other current assets | ¥ 280,248 | $ 43,977 | ¥ 563,182 | |
[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 ($) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021CNY (¥)¥ / shares | Dec. 31, 2021USD ($)$ / shares | Dec. 31, 2020CNY (¥)¥ / shares | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥)¥ / shares | Dec. 31, 2019USD ($) | Dec. 31, 2021USD ($) |
Income Tax Contingency [Line Items] | |||||||||||
Income tax expense | ¥ 34,006 | $ 5,336 | ¥ 260,945 | ¥ 500,361 | |||||||
Current income tax expense | 185,194 | 29,061 | 283,372 | 355,398 | |||||||
Deferred income tax expense | ¥ (151,188) | $ (23,725) | ¥ (22,427) | ¥ 144,963 | |||||||
Effect of preferential tax rate, basic earning per ADS | (per share) | ¥ 1.11 | $ 0.17 | ¥ 0.97 | ¥ 0.68 | |||||||
Withholding tax on dividend payment | ¥ 164,946 | $ 25,884 | ¥ 76,610 | ¥ 71,056 | |||||||
Undistributed earnings from PRC Subsidiaries | 14,620,442 | 13,674,190 | $ 2,294,266 | ||||||||
Unrecognized tax benefits that would impact effective tax rate | ¥ | 0 | 14,247 | |||||||||
Dividend declared percent on net income | 20.00% | ||||||||||
Statutory Income Tax Rate, Amount | ¥ 544,290 | $ 85,411 | 917,128 | 925,253 | |||||||
Income tax dividend rate | 10.00% | 10.00% | |||||||||
Dividend Declared [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Withholding tax on dividend payment | ¥ 53,835 | $ 8,448 | ¥ 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% | |||||
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] | |||||||||||
Income tax expense | $ 0 | $ 0 | $ 0 | ||||||||
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 | ¥ 348,593 | $ 54,702 | ¥ 331,952 | ¥ 150,714 | |||||||
Current income tax expense | 317,944 | 49,892 | 371,826 | 151,645 | |||||||
Deferred income tax expense | 30,649 | $ 4,810 | ¥ 39,874 | ¥ 931 | |||||||
Net tax operating losses | ¥ 2,022,137 | $ 317,317 | |||||||||
Net tax operating losses expiration year | 2022 | 2022 | |||||||||
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% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | |||||||||
China [Member] | Chengdu Prbrownies Software Co., Ltd. [Member] | Forecast [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Statutory EIT rate | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | |||||||||
China [Member] | Chezhiying WFOE [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Statutory EIT rate | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | |||||||||
China [Member] | Chezhiying WFOE [Member] | Forecast [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Statutory EIT rate | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | |||||||||
China [Member] | Hainan Chezhiyitong Information Technology Co., Ltd. [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Statutory EIT rate | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 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% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | |||||||||
China [Member] | Tianjin Autohome Software Co., Ltd [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Statutory EIT rate | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 50.00% | 50.00% | |||||||||
China [Member] | Tianjin Autohome Software Co., Ltd [Member] | Forecast [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Statutory EIT rate | 25.00% | 25.00% | |||||||||
Reduction in statutory income tax rate | 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% | 10.00% | 10.00% | |||||||
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] | Beijing Prbrownies Software Co., Ltd. (formerly known as Beijing Autohome Software Co., Ltd.) [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Preferential statutory tax rate | 15.00% | 15.00% | 10.00% | 10.00% | 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% | 10.00% | 10.00% | |||||||
China [Member] | High-New Technology Enterprise [Member] | Chezhiying WFOE [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Preferential statutory tax rate | 15.00% | 15.00% | |||||||||
China [Member] | High-New Technology Enterprise [Member] | Hainan Chezhiyitong Information Technology Co., Ltd. [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Preferential statutory tax rate | 15.00% | 15.00% | |||||||||
China [Member] | High-New Technology Enterprise [Member] | Tianjin Autohome Software Co., Ltd [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Preferential statutory tax rate | 15.00% | 15.00% | |||||||||
China [Member] | Reduction in Taxes [Member] | |||||||||||
Income Tax Contingency [Line Items] | |||||||||||
Withholding income tax rate on dividends distributed by FIEs | 5.00% | 5.00% |
Taxation - Income before Income
Taxation - Income before Income/(Loss) Tax Expenses (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Income/(Loss) from Domestic and Foreign Components Before Income Tax Expenses [Abstract] | ||||
PRC | ¥ 2,328,917 | $ 365,458 | ¥ 3,770,148 | ¥ 3,647,316 |
Non PRC | (151,759) | (23,815) | (101,636) | 53,690 |
Income before income taxes | ¥ 2,177,158 | $ 341,643 | ¥ 3,668,512 | ¥ 3,701,006 |
Taxation - Income Tax Expense (
Taxation - Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
Current | ¥ 185,194 | $ 29,061 | ¥ 283,372 | ¥ 355,398 |
Deferred | (151,188) | (23,725) | (22,427) | 144,963 |
Income tax expense | ¥ 34,006 | $ 5,336 | ¥ 260,945 | ¥ 500,361 |
Taxation - Reconciliation of In
Taxation - Reconciliation of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | ||||
Income Tax Disclosure [Abstract] | |||||||
Income before income tax expense | ¥ 2,177,158 | $ 341,643 | ¥ 3,668,512 | ¥ 3,701,006 | |||
Income tax expense computed at PRC statutory tax rates (25%) | 544,290 | 85,411 | 917,128 | 925,253 | |||
Non-deductible expenses | 28,725 | 4,508 | 22,063 | 27,333 | |||
Research and development expenses super - deduction | (185,801) | (29,156) | (225,715) | (194,000) | |||
Change in valuation allowances | 50,473 | 7,920 | (5,285) | 16,420 | |||
Outside basis difference | (1,111) | (174) | 142 | (7,727) | |||
Effect of international tax rate difference | 37,940 | 5,954 | 8,682 | (14,440) | |||
Effect of preferential tax rate | (552,567) | (86,712) | (463,819) | (323,534) | |||
Effect of withholding tax on dividend | 164,946 | 25,884 | 76,610 | 71,056 | |||
Other adjustments | (52,889) | [1] | (8,299) | [1] | (68,861) | [1] | 0 |
Income tax expense | ¥ 34,006 | $ 5,336 | ¥ 260,945 | ¥ 500,361 | |||
[1] | This amount represents tax savings relating to share-based compensation exercised in 2019 and 2020, which can be deducted when the Company did tax filing in 2020 and 2021 according to income tax guidance adopted. |
Taxation - Reconciliation of _2
Taxation - Reconciliation of Income Tax Expense (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Deferred tax assets | ||||
Allowance for doubtful accounts | ¥ 35,359 | $ 5,549 | ¥ 22,343 | |
Accrued staff cost and expenses | 97,883 | 15,360 | 42,091 | |
Deferred revenue | 5,551 | 871 | 11,214 | |
Tax losses | [1] | 489,664 | 76,839 | 404,178 |
VAT refund | 351 | 55 | 2,032 | |
Less: Valuation allowances | (452,670) | (71,034) | (402,197) | |
Total deferred tax assets | 176,138 | 27,640 | 79,661 | |
Deferred tax liabilities | ||||
Identifiable intangible assets arising from acquisition | 52,460 | 8,232 | 63,570 | |
Intangible assets and internally-developed software | 32,540 | 5,106 | 39,306 | |
Outside basis difference and others | 437,963 | 68,726 | 452,023 | |
Withholding income tax | 53,835 | 8,448 | 76,610 | |
Total deferred tax liabilities | ¥ 576,798 | $ 90,512 | ¥ 631,509 | |
[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. |
Property and Equipment, Net - S
Property and Equipment, Net - Summary of Property and Equipment (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
At cost: | |||
Property and equipment, gross | ¥ 1,168,377 | $ 183,344 | ¥ 1,061,946 |
Less: Accumulated depreciation | (786,881) | (123,479) | (651,865) |
Property and equipment, net | 381,496 | 59,865 | 410,081 |
Electronic Equipment [Member] | |||
At cost: | |||
Property and equipment, gross | 651,779 | 102,278 | 647,271 |
Office Equipment [Member] | |||
At cost: | |||
Property and equipment, gross | 2,290 | 359 | 5,841 |
Motor Vehicles [Member] | |||
At cost: | |||
Property and equipment, gross | 7,264 | 1,140 | 7,071 |
Software [Member] | |||
At cost: | |||
Property and equipment, gross | 419,326 | 65,801 | 305,552 |
Leasehold Improvements [Member] | |||
At cost: | |||
Property and equipment, gross | ¥ 87,718 | $ 13,766 | ¥ 96,211 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation expense | ¥ 225,310 | $ 35,356 | ¥ 158,229 | ¥ 106,941 |
Intangible Assets, Net - Schedu
Intangible Assets, Net - Schedule of Intangible Assets with Definite Lives (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | ¥ 558,694 | ¥ 558,049 | |
Accumulated Amortization | (201,263) | (117,628) | |
Net Carrying Value | 357,431 | $ 56,089 | 440,421 |
Technologies [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 202,100 | 202,100 | |
Accumulated Amortization | (40,420) | 0 | |
Net Carrying Value | 161,680 | 25,371 | 202,100 |
Trademarks [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 175,309 | 175,309 | |
Accumulated Amortization | (72,237) | (56,993) | |
Net Carrying Value | 103,072 | 16,174 | 118,316 |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 46,900 | 46,900 | |
Accumulated Amortization | (13,860) | (5,600) | |
Net Carrying Value | 33,040 | 5,185 | 41,300 |
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 | 2,954 | 2,237 | |
Accumulated Amortization | (2,277) | (2,012) | |
Net Carrying Value | 677 | 106 | 225 |
Database [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 73,500 | 73,500 | |
Accumulated Amortization | (14,700) | 0 | |
Net Carrying Value | 58,800 | 9,228 | 73,500 |
Licensing Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 2,798 | 2,870 | |
Accumulated Amortization | (2,636) | (2,579) | |
Net Carrying Value | 162 | 25 | 291 |
Insurance Brokerage License [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Value | 28,133 | 28,133 | |
Accumulated Amortization | (28,133) | (23,444) | |
Net Carrying Value | ¥ 0 | $ 0 | ¥ 4,689 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | ¥ 83,710 | $ 13,136 | ¥ 12,045 | ¥ 11,662 |
Minimum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets, estimated useful lives | 1 year 9 months | 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 | 15 years | |
Continuing Operations [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangible assets | ¥ 83,710 | $ 13,136 | ¥ 12,045 | ¥ 11,662 |
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, 2021CNY (¥) |
Finite-Lived Intangible Assets [Line Items] | |
2022 | ¥ 81,104 |
2023 | 76,106 |
2024 | 74,106 |
2025 | 74,106 |
2026 | ¥ 10,726 |
Long-Term Investments - Additio
Long-Term Investments - Additional Information (Detail) ¥ in Thousands, $ in Thousands | May 31, 2015CNY (¥) | Jul. 31, 2017CNY (¥) | Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2021USD ($) |
Schedule of Equity Method Investments [Line Items] | |||||
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 | ||||
Other investments [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Carrying amount of equity method investments | ¥ 70,720 | ¥ 70,418 | $ 11,098 |
Schedule of Other Non-Current A
Schedule of Other Non-Current Assets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Other Assets, Noncurrent [Abstract] | |||
Operating lease right-of-use assets | ¥ 133,383 | $ 20,931 | ¥ 209,339 |
Others | 49,365 | ||
Other non-current assets | ¥ 133,383 | $ 20,931 | ¥ 258,704 |
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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) |
Payables and Accruals [Abstract] | |||
Accrued rebates | ¥ 646,723 | $ 101,485 | ¥ 797,218 |
Accrued expenses | 550,848 | 86,440 | 737,797 |
Payroll and welfare payable | 526,080 | 82,553 | 552,985 |
Operating lease liabilities - current portion | 96,160 | 15,090 | 112,094 |
VAT and surcharges payable | 31,307 | 4,913 | 85,372 |
Professional service fees | 22,885 | 3,591 | 7,074 |
Deposit from customers | 21,058 | 3,304 | 22,387 |
Payable for purchase of fixed assets | 21,045 | 3,302 | 39,852 |
Payable for exercise of share-based awards | 2,566 | 403 | 38,217 |
Others | 125,925 | 19,761 | 184,713 |
Accrued expenses and other payables | ¥ 2,044,597 | $ 320,842 | ¥ 2,577,709 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Transactions (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | ||
Related Party Transaction [Line Items] | |||||
Related party transactions, sales | ¥ 417,051 | $ 65,444 | ¥ 621,845 | ¥ 447,350 | |
Related party transactions, service provided | 177,594 | 27,868 | 162,045 | 123,423 | |
Related party transactions, interest income | 136,613 | 21,438 | 63,558 | 47,459 | |
Ping An Group [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, interest income | 136,613 | 21,438 | 63,558 | 47,459 | |
Ping An Group [Member] | Commission Fee And Advertising Service [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, sales | [1] | 417,051 | 65,444 | 621,845 | 447,010 |
Ping An Group [Member] | Rental Property Management And Other Miscellaneous Services [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, service provided | [2] | 176,880 | 27,756 | 156,420 | 107,706 |
Other Related Parties [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party transactions, sales | 340 | ||||
Related party transactions, service provided | ¥ 714 | $ 112 | ¥ 5,625 | ¥ 15,717 | |
[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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Related Party Transaction [Line Items] | ||||
Amounts due from related parties, current | ¥ 83,376 | $ 13,084 | ¥ 47,303 | |
Amounts due from related parties, non-current | 7,529 | 1,181 | 18,163 | |
Amounts included in "Cash and cash equivalents" | [1] | 780,875 | 122,536 | 557,117 |
Amounts included in "Short-term investments" | [1] | 3,358,937 | 527,091 | 2,892,057 |
Amounts included in "Restricted cash" | [1] | 5,000 | 785 | 17,726 |
Amounts due to related parties | 31,897 | 5,005 | 79,895 | |
Ping An Group [Member] | ||||
Related Party Transaction [Line Items] | ||||
Amounts due from related parties, current | [2] | 83,376 | 13,084 | 47,303 |
Amounts due from related parties, non-current | [2] | 7,529 | 1,181 | 18,163 |
Amounts due to related parties | [3] | 31,182 | 4,893 | 76,048 |
Other Related Parties [Member] | ||||
Related Party Transaction [Line Items] | ||||
Amounts due to related parties | ¥ 715 | $ 112 | ¥ 3,847 | |
[1] | The Company has cash or time deposits in commercial banks associated with Ping An Group and purchased certain short-term cash management products managed by Ping An Group as a part of the Company’s cash management plan. | |||
[2] | 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, 2020 and 2021, the Group had cash and cash equivalents and short-term investments and restricted cash of RMB3,466,900 and RMB0 (US$0) at Ping An Group, respectively. | |||
[3] | 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 - Schedule of
Cost of Revenues - Schedule of Cost of Revenues (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Cost of Revenue [Abstract] | ||||
Content-related costs | ¥ 513,735 | $ 80,616 | ¥ 571,516 | ¥ 451,212 |
Bandwidth and IDC fees | 105,343 | 16,531 | 113,858 | 106,146 |
Tax surcharges | 39,240 | 6,158 | 96,958 | 189,935 |
Depreciation and amortization expenses | 23,406 | 3,673 | 29,889 | 31,169 |
Others | 366,168 | 57,459 | 148,949 | 181,830 |
Cost of revenues | ¥ 1,047,892 | $ 164,437 | ¥ 961,170 | ¥ 960,292 |
Ordinary Shares - Additional In
Ordinary Shares - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021CNY (¥)shares | Dec. 31, 2021USD ($)shares | Nov. 18, 2021USD ($) | Dec. 31, 2020shares | Dec. 31, 2019shares | Dec. 31, 2018shares | ||
Class of Stock [Line Items] | |||||||
Number of ordinary shares outstanding | [1] | 505,183,788 | 505,183,788 | 479,219,628 | 475,706,748 | 472,225,380 | |
Ordinary shares, shares issued | 505,183,788 | 505,183,788 | 479,219,628 | ||||
Stock repurchased during period value | ¥ | ¥ 31,204 | ||||||
Class A Ordinary Shares [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock repurchased during period shares | 664,268 | 664,268 | |||||
Stock repurchased during period value | ¥ 31,204 | $ 4,897 | |||||
American Depositary Shares [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock repurchased during period shares | 166,067 | 166,067 | |||||
American Depositary Shares [Member] | Share Repurchase Program [Member] | |||||||
Class of Stock [Line Items] | |||||||
Amount of stock repurchase plan authorized | $ | $ 200,000 | ||||||
[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, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
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 | ¥ 91,339 | $ 14,333 | ¥ 87,759 | ¥ 84,537 |
Restricted net assets | ¥ 4,924,954 | $ 772,833 | ¥ 4,582,897 |
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, 2021CNY (¥)¥ / sharesshares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | ||
Numerator: | |||||
Net income attributable to ordinary shareholders | ¥ 2,148,566 | $ 337,157 | ¥ 3,405,229 | ¥ 3,199,966 | |
Denominator: | |||||
Weighted average ordinary shares outstanding | [1] | 499,861,764 | 499,861,764 | 477,467,268 | 474,328,384 |
Basic earnings per ADS | (per share) | [1] | ¥ 4.30 | $ 0.67 | ¥ 7.13 | ¥ 6.75 |
Numerator: | |||||
Net income attributable to ordinary shareholders | ¥ 2,148,566 | $ 337,157 | ¥ 3,405,229 | ¥ 3,199,966 | |
Denominator: | |||||
Weighted average ordinary shares outstanding | [1] | 499,861,764 | 499,861,764 | 477,467,268 | 474,328,384 |
Dilutive effect of share-based awards | 619,776 | 619,776 | 2,219,112 | 3,732,604 | |
Weighted average number of shares outstanding-diluted | [1] | 500,481,540 | 500,481,540 | 479,686,380 | 478,060,988 |
Diluted earnings per ADS | (per share) | [1] | ¥ 4.29 | $ 0.67 | ¥ 7.10 | ¥ 6.69 |
Earnings Per Share Attributable To Ordinary Shareholders [Abstract] | |||||
Net income per share – basic | (per share) | [1] | 4.30 | 0.67 | 7.13 | 6.75 |
Net income per share – diluted | (per share) | [1] | 4.29 | 0.67 | 7.10 | 6.69 |
ADR [Member] | |||||
Denominator: | |||||
Basic earnings per ADS | (per share) | 17.19 | 2.70 | 28.53 | 26.99 | |
Denominator: | |||||
Diluted earnings per ADS | (per share) | 17.17 | 2.69 | 28.40 | 26.77 | |
Earnings Per Share Attributable To Ordinary Shareholders [Abstract] | |||||
Net income per share – basic | (per share) | 17.19 | 2.70 | 28.53 | 26.99 | |
Net income per share – diluted | (per share) | ¥ 17.17 | $ 2.69 | ¥ 28.40 | ¥ 26.77 | |
[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) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 | 455,824 | 481,828 | 389,440 |
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 | 1,407,232 | 90,536 | 714,700 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2021CNY (¥)Customershares | Dec. 31, 2021USD ($)Customer$ / shares | Dec. 31, 2020$ / sharesshares | Dec. 31, 2020CNY (¥)Customershares | Dec. 31, 2019$ / shares | Dec. 31, 2019CNY (¥) | Dec. 31, 2021USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Closing stock price | $ / shares | $ 29.48 | ||||||
Aggregate intrinsic value of options exercised | ¥ 27,950 | $ 4,386 | ¥ 170,374 | ¥ 178,577 | |||
Weighted average fair value per option granted | $ / shares | $ 23 | $ 40.52 | $ 45.26 | ||||
The total grant date fair value of options vested | 32,226 | $ 5,057 | ¥ 58,092 | 79,197 | |||
Aggregate fair value of outstanding options at the grant date | ¥ 89,242 | $ 14,004 | |||||
No of ordinary shares per Ads before division | Customer | 1 | 1 | 1 | ||||
No of ordinary shares per Ads after division | Customer | 4 | 4 | |||||
Unrecognized share-based compensation expenses | ¥ 48,884 | $ 7,671 | |||||
Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted average fair value per option granted | $ / shares | $ 60.83 | $ 44.69 | |||||
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 | 3 years 3 months 3 days | 3 years 3 months 3 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 9 months 29 days | 2 years 9 months 29 days | |||||
Aggregate fair value of the outstanding restricted shares | ¥ 454,972 | $ 71,395 | |||||
Unrecognized compensation expense | 262,589 | $ 41,206 | |||||
Weighted average grant date fair value, Granted | $ / shares | $ 50.79 | $ 85.44 | $ 85.30 | ||||
Grant date fair value of restricted shares vested | ¥ 165,675 | $ 25,998 | ¥ 144,757 | ¥ 141,227 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2021 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Number of options, Outstanding, Beginning balance | 511,790 | |||
Number of options, Granted | 385,120 | |||
Number of options, Exercised | (123,811) | |||
Number of options, Forfeited | (230,271) | |||
Number of options, Outstanding, Ending balance | 542,828 | 511,790 | ||
Number of options, Vested and expected to vest, Ending balance | 517,519 | |||
Number of options, Exercisable, Ending balance | 104,324 | |||
Weighted average exercise price, Outstanding, Beginning balance | $ 63.83 | |||
Weighted average exercise price, Granted | 47.06 | |||
Weighted average exercise price, Exercised | 45.35 | |||
Weighted average exercise price, Forfeited | 79.60 | |||
Weighted average exercise price, Outstanding, Ending balance | 51.33 | $ 63.83 | ||
Weighted average exercise price, Vested and expected to vest | 49.68 | |||
Weighted average exercise price, Exercisable | 50.03 | |||
Weighted average grant date fair value, Outstanding, Beginning balance | 41.10 | |||
Weighted average grant date fair value, Outstanding, Granted | 23 | 40.52 | $ 45.26 | |
Weighted average grant date fair value, Outstanding, Ending balance | 25.80 | $ 41.10 | ||
Weighted average grant date fair value, Vested or expected to vest | 25.98 | |||
Weighted average grant date fair value, Exercisable | $ 35.69 | |||
Weighted average remaining contractual term | 8 years 10 months 17 days | 7 years 6 months 14 days | ||
Weighted average remaining contractual term, Vested and expected to vest | 8 years 10 months 13 days | |||
Weighted average remaining contractual term, Exercisable | 6 years 9 months 3 days | |||
Aggregate intrinsic value of share options, Outstanding | $ 206 | $ 18,910 | ||
Aggregate intrinsic value of share options, Exercisable | 206 | |||
Aggregate intrinsic value of share options, Vested and expected to vest | $ 206 |
Share-Based Compensation - Sche
Share-Based Compensation - Schedule of Restricted Shares Activity (Detail) - Restricted Shares [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares, Outstanding, Beginning balance | 853,331 | ||
Number of shares, Granted | 1,028,741 | ||
Number of shares, Vested | (348,696) | ||
Number of shares, Forfeited | (243,217) | ||
Number of shares, Outstanding, Ending balance | 1,290,159 | 853,331 | |
Number of shares, Expected to vest | 1,011,422 | ||
Weighted average grant date fair value, Outstanding, Beginning balance | $ 79.88 | ||
Weighted average grant date fair value, Granted | 50.79 | $ 85.44 | $ 85.30 |
Weighted average grant date fair value, Vested | 74.17 | ||
Weighted average grant date fair value, Forfeited | 79.67 | ||
Weighted average grant date fair value, Outstanding, Ending balance | 55.34 | $ 79.88 | |
Weighted average grant date fair value, Expected to vest | $ 54.83 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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% | 1.00% | 0.00% |
Weighted average fair value per option granted | $ 23 | $ 40.52 | $ 45.26 |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of ordinary share | $ 31.06 | $ 77.32 | |
Risk-free interest rates, Minimum | 1.09% | 0.62% | |
Expected exercise multiple | 2.2 | 2.2 | |
Expected volatility, Minimum | 51.00% | 52.00% | |
Weighted average fair value per option granted | $ 10.51 | $ 30 | |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of ordinary share | $ 119.82 | $ 94.46 | |
Risk-free interest rates, Maximum | 1.62% | 1.92% | |
Expected exercise multiple | 2.8 | 2.8 | |
Expected volatility, Maximum | 52.00% | 53.00% | |
Weighted average fair value per option granted | $ 60.83 | $ 44.69 |
Share-Based Compensation - Sc_3
Share-Based Compensation - Schedule of Share-Based Compensation Expenses (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | ¥ 206,060 | $ 32,335 | ¥ 211,206 | ¥ 204,008 |
Cost of Revenues [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 23,142 | 3,631 | 21,372 | 15,508 |
Sales and Marketing Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 46,823 | 7,348 | 40,103 | 46,081 |
General and Administrative Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | 48,803 | 7,658 | 55,868 | 62,884 |
Product Development Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Share-based compensation expense | ¥ 87,292 | $ 13,698 | ¥ 93,863 | ¥ 79,535 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Apr. 30, 2021USD ($) | Oct. 31, 2020USD ($) | Dec. 31, 2020CNY (¥) | Jun. 30, 2021 | Dec. 31, 2020USD ($) |
cash consideration | ¥ | ¥ 935,932 | ||||
TTP Member [Member] | |||||
Percentage of voting interests acquired | 51.00% | 51.00% | |||
Exclusive Technical Consulting And Service Agreements [Member] | |||||
Business acquisition, transaction costs | $ 168,000 | ||||
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 | $ 143,000 | ||||
Percentgae of exchange preferred shares | 31.48% | ||||
Second Closing Transaction [Member] | TTP Member [Member] | |||||
Percentage of equity interests on converted basis | 51.00% | ||||
cash consideration | $ 25,000 | ||||
Second Closing Transaction [Member] | Exclusive Technical Consulting And Service Agreements [Member] | |||||
Business acquisition, transaction costs | $ 25,000 | ||||
Percentgae of exchange preferred shares | 4.17% | ||||
Convertible Debt Securities [Member] | Exclusive Technical Consulting And Service Agreements [Member] | |||||
Business acquisition, right to purchase | $ 200,000 |
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, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2021USD ($) | |
Goodwill | ¥ 4,071,391 | ¥ 4,071,391 | $ 638,890 |
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 |
Mezzanine Equity - Additional I
Mezzanine Equity - Additional Information (Detail) - shares | Jun. 30, 2021 | Dec. 31, 2020 |
Noncontrolling Interest [Member] | Subsidiaries [Member] | ||
Temporary Equity [Line Items] | ||
Temporary equity shares issued | 142,196,089 | |
Noncontrolling Interest [Member] | Subsidiaries [Member] | Consolidation, Eliminations [Member] | ||
Temporary Equity [Line Items] | ||
Temporary equity shares issued | 80,340,268 | |
TTP Member [Member] | ||
Temporary Equity [Line Items] | ||
Percentage of voting interests acquired | 51.00% | 51.00% |
Mezzanine Equity - Summary of M
Mezzanine Equity - Summary of Mezzanine Equity (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021CNY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2020CNY (¥) | |
Temporary Equity [Line Items] | |||
Balance as of January 1 | ¥ 1,056,237 | $ 165,747 | ¥ 0 |
Business combinations | 0 | 1,056,237 | |
Accretion of mezzanine equity | 411,792 | 64,619 | |
Balance as of December 31 | ¥ 1,468,029 | $ 230,366 | ¥ 1,056,237 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] ¥ in Thousands | Feb. 24, 2022$ / shares | Jan. 31, 2022CNY (¥) |
Subsequent Event [Line Items] | ||
Dividend payable | $ 0.1325 | |
Dividend ,Payable date | Mar. 31, 2022 | |
Dividends Payable, Date Declared | Feb. 24, 2022 | |
Fund Manager [Member] | ||
Subsequent Event [Line Items] | ||
Subscription of limited partner interests | ¥ | ¥ 400,000 | |
ADR [Member] | ||
Subsequent Event [Line Items] | ||
Dividend payable | $ 0.53 |