Cross-Market Price Comparison
| Other Listed Market | To be extracted |
|---|---|
| Other Market Stock Code | To be extracted |
| H-Share Offer Price | HK$ 176.30 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Autohome-S |
|---|---|
| Stock Code | 02518 |
| Company Full Name | To be extracted |
| Industry | 汽車及出行 |
| Principal Activities | 中國領先的汽車消費者在線服務平台，透過autohome.com.cn和che168.com提供全面、獨立及交互式的內容和工具，並為汽車製造商和經銷商提供媒體服務、線索服務及在線營銷及其他服務。 |
| Listing Date | 2021-03-15 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | 19C第二上市 |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國北京海淀區丹棱街3號中國電子大廈B座18層 郵編100080 |
| Business Address (Hong Kong) | 香港銅鑼灣希慎道33號利園一期19樓1901室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | ir.autohome.com.cn |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | Yes (NYSE) |
Offering Information
| Offering Mechanism | Mechanism A |
|---|---|
| Offer Price | HK$ 176.30 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 17,630 |
| Par Value | To be extracted |
| Offer Period | 2021-03-04 to 2021-03-09 |
| Global Offering Shares | 30,291,200 shares |
| HK Public Offer Shares (Initial) | 3,029,200 shares (10.0%) |
| Public Offer Lots (Initial) | 30,292lots (Pool A15,146lots，Pool B15,146lots) |
| International Placing Shares (Initial) | 27,262,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 504,843,600 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 5,340,338,560 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 17,630 |
| 2 lots | 200 | HK$ 35,260 |
| 3 lots | 300 | HK$ 52,890 |
| 4 lots | 400 | HK$ 70,520 |
| 5 lots | 500 | HK$ 88,150 |
| 6 lots | 600 | HK$ 105,780 |
| 7 lots | 700 | HK$ 123,410 |
| 8 lots | 800 | HK$ 141,040 |
| 9 lots | 900 | HK$ 158,670 |
| 10 lots | 1,000 | HK$ 176,300 |
| 12 lots | 1,200 | HK$ 211,560 |
| 14 lots | 1,400 | HK$ 246,820 |
| 16 lots | 1,600 | HK$ 282,080 |
| 18 lots | 1,800 | HK$ 317,340 |
| 20 lots | 2,000 | HK$ 352,600 |
| 24 lots | 2,400 | HK$ 423,120 |
| 28 lots | 2,800 | HK$ 493,640 |
| 32 lots | 3,200 | HK$ 564,160 |
| 36 lots | 3,600 | HK$ 634,680 |
| 40 lots | 4,000 | HK$ 705,200 |
| 50 lots | 5,000 | HK$ 881,500 |
| 60 lots | 6,000 | HK$ 1,057,800 |
| 70 lots | 7,000 | HK$ 1,234,100 |
| 80 lots | 8,000 | HK$ 1,410,400 |
| 90 lots | 9,000 | HK$ 1,586,700 |
| 100 lots | 10,000 | HK$ 1,763,000 |
| 150 lots | 15,000 | HK$ 2,644,500 |
| 200 lots | 20,000 | HK$ 3,526,000 |
| 250 lots | 25,000 | HK$ 4,407,500 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 300 lots | 30,000 | HK$ 5,289,000 |
| 350 lots | 35,000 | HK$ 6,170,500 |
| 400 lots | 40,000 | HK$ 7,052,000 |
| 450 lots | 45,000 | HK$ 7,933,500 |
| 500 lots | 50,000 | HK$ 8,815,000 |
| 600 lots | 60,000 | HK$ 10,578,000 |
| 700 lots | 70,000 | HK$ 12,341,000 |
| 800 lots | 80,000 | HK$ 14,104,000 |
| 900 lots | 90,000 | HK$ 15,867,000 |
| 1,000 lots | 100,000 | HK$ 17,630,000 |
| 2,000 lots | 200,000 | HK$ 35,260,000 |
| 4,000 lots | 400,000 | HK$ 70,520,000 |
| 15,146 lots | 1,514,600 | HK$ 267,023,980 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 18.28B |
|---|---|
| Analysis Result | Excluded — Secondary listing (-S): permanently excluded, requires dual-primary conversion |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 89,003,926,680 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | 盈利約人民幣3,405.2百萬元 |
| Period-End Cash Balance | 人民幣14,629.4百萬元 |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
RMB
Income Statement
| Item | 2018 | 2019 | 2020 |
|---|---|---|---|
| Revenue | 7,233,151 | 8,420,751 | 8,658,559 |
| Cost of sales | -820,288 | -960,292 | -961,170 |
| Gross profit | 6,412,863 | 7,460,459 | 7,697,389 |
| Other income and gains, net | 341,391 | 477,699 | 443,215 |
| Selling and distribution expenses | -2,435,236 | -3,093,345 | -3,246,507 |
| Administrative expenses | -314,846 | -317,967 | -381,843 |
| Operating profit | 2,868,925 | 3,235,792 | 3,148,027 |
| Share of associates and JVs | 24,702 | 685 | -1,246 |
| Profit before tax | 3,241,421 | 3,701,006 | 3,668,512 |
| Income tax expense | -377,890 | -500,361 | -260,945 |
| Profit for the year | 2,863,531 | 3,200,645 | 3,407,567 |
| Profit attributable to owners | 2,871,015 | 3,199,966 | 3,405,229 |
Balance Sheet
| Item | 2018 | 2019 | 2020 |
|---|---|---|---|
| Cash and cash equivalents | 211,970 | 1,988,298 | 1,751,222 |
| Trade and bills receivables | 2,795,835 | 3,231,486 | 3,124,197 |
| Total current assets | 13,141,317 | 16,358,382 | 18,364,080 |
| Total assets | 15,756,201 | 19,155,865 | 23,730,845 |
| Total current liabilities | 4,164,769 | 3,965,903 | 4,185,683 |
| Total liabilities | 4,644,758 | 4,549,924 | 4,922,053 |
| Total equity | 11,111,443 | 14,605,941 | 17,752,555 |
| Equity attributable to owners | 11,135,278 | 14,629,097 | 17,625,734 |
Cash Flow Statement
| Item | 2018 | 2019 | 2020 |
|---|---|---|---|
| Net cash from operating activities | 3,111,438 | 2,889,369 | 3,325,631 |
| Net cash from investing activities | -3,301,239 | -1,168,267 | -2,985,458 |
| Net cash from financing activities | -543,968 | 68,676 | -546,967 |
| Net increase in cash | -694,618 | 1,776,528 | -224,350 |
| Depreciation of PP&E | 90,270 | 106,941 | 158,229 |
| Amortisation of intangible assets | 11,623 | 11,662 | 12,045 |
| Purchase of PP&E | -113,796 | -204,113 | -263,892 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | HK$ 180.0 |
|---|---|
| First Day Open | HK$ 181.0 |
| First Day Change | -80.49% |
| First Day Volume | 3664660.0 |
| First Day Turnover | 666848000.0 |
| Use of Proceeds | 1、約30%擬用于投資我們的技術及產品開發；
2、約30%擬用于孵化新業務；
3、約30%擬用于提高我們國內外的地位，發展定汽車生態系統；
4、約10%擬用于一般企業用途、營運資金、資本開支及其他一般及行政事宜。 |
Underwriting Syndicate
Joint Sponsors (3)
Overall Coordinators (4)
Joint Bookrunners (8)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
GOLDMAN SACHS (ASIA) L.L.C. CE ACC536
Credit Suisse (Hong Kong) Limited CE AAO017
香港上海汇丰银行有限公司 CE AAA523
Deutsche Bank AG, Hong Kong Branch CE AAK077
海通国际证券有限公司 CE AAF806
PING AN SECURITIES (HONG KONG) COMPANY LIMITED CE BMC491
ABCI Securities Company Limited CE ACX411
Joint Lead Managers (8)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
GOLDMAN SACHS (ASIA) L.L.C. CE ACC536
Credit Suisse (Hong Kong) Limited CE AAO017
香港上海汇丰银行有限公司 CE AAA523
Deutsche Bank AG, Hong Kong Branch CE AAK077
海通国际证券有限公司 CE AAF806
PING AN SECURITIES (HONG KONG) COMPANY LIMITED CE BMC491
ABCI Securities Company Limited CE ACX411
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 龍泉 | — |
| Company Secretary | 王杰斯 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 云晨資本（平安集團附屬公司）持股49.0%；Kayne Anderson聯屬實體持股10.0%；Comgest Global Investors S.A.S.聯屬實體持股5.1%。 |
|---|
