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Organization (Tables) | 12 Months Ended
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Dec. 31, 2019
Organization |
Schedule of company's major subsidiaries, consolidated VIE and the subsidiary of the VIE | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Percentage of |  | ​
​ | ​ | Date of | ​ | Place of | ​ | ownership by the | ​ | Principal
Entity | ​ | incorporation | ​ | incorporation | ​ | Company | ​ | activities
​ | ​ | ​ | ​ | ​ | ​ | Direct |  | Indirect | ​ | ​
Subsidiaries: |  |  |  |  |  |  |  |  |  |
HongKong Walnut Street Limited ("Walnut HK") | ​ | April 28, 2015 |  | Hong Kong |  | 100 | % | — |  | Holding company
Hangzhou Weimi Network Technology Co., Ltd. ("Hangzhou Weimi" or the "WFOE") | ​ | May 28, 2015 |  | PRC |  | 100 | % | — |  | Technology research and development
Walnut Street (Shanghai) Information Technology Co., Ltd. | ​ | January 25,2018 |  | PRC |  | 100 | % | ​ |  | Technology research and development
Shenzhen Qianhai Xinzhijiang Information Technology Co., Ltd. (“Xinzhijiang”) | ​ | April 25, 2018 | ​ | PRC | ​ | 100 | % | — | ​ | E-commerce platform
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
VIE: | ​ |  |  |  |  |  |  |  |  |
Hangzhou Aimi Network Technology Co., Ltd. ("Hangzhou Aimi" or the "VIE") | ​ | April 14, 2015 |  | PRC |  | — |  | 100 | % | E-commerce platform
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
VIE’s subsidiary: | ​ |  |  |  |  |  |  |  |  |
Shanghai Xunmeng Information Technology Co., Ltd. ("Shanghai Xunmeng") | ​ | January 9, 2014 |  | PRC |  | — |  | 100 | % | E-commerce platform
​
Schedule of financial information for the VIE before eliminating the inter-company balances and transactions between the VIE, the subsidiaries of the VIE and other entities within the Group | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2018 | ​ | 2019
​ |  | RMB |  | RMB |  | US$
ASSETS |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets |  |  |  |  |  |
Cash and cash equivalents |  | 3,529,316 |  | 2,816,894 |  | 404,622
Restricted cash |  | 16,379,364 |  | 27,528,793 |  | 3,954,264
Receivables from online payment platforms |  | 247,586 |  | 1,050,974 |  | 150,963
Short-term investments |  | 1,300,000 |  | 6,560,665 |  | 942,381
Amounts due from related parties (i) |  | 1,018,963 |  | 2,360,267 |  | 339,031
Amounts due from Group companies | ​ | 565,101 | ​ | 3,337,273 | ​ | 479,369
Prepayments and other current assets |  | 441,590 |  | 295,377 |  | 42,428
Total current assets |  | 23,481,920 |  | 43,950,243 |  | 6,313,058
​ |  |  |  |  |  |
Non-current assets |  | ​ | ​ | ​ | ​ | ​
Property, equipment and software, net |  | 16,578 |  | 27,719 |  | 3,982
Right-of-use assets |  | — |  | 452,883 |  | 65,053
Other non-current assets |  | — |  | 60,306 |  | 8,662
Total non-current assets |  | 16,578 |  | 540,908 |  | 77,697
Total assets | ​ | 23,498,498 |  | 44,491,151 |  | 6,390,755
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2018 | ​ | 2019
​ |  | RMB |  | RMB |  | US$
LIABILITIES |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Amounts due to related parties (i) |  | 458,147 |  | 1,502,892 |  | 215,877
Amounts due to Group companies |  | 1,575,534 |  | 5,393,858 |  | 774,779
Customer advances and deferred revenues |  | 190,382 |  | 605,969 |  | 87,042
Payable to merchants |  | 17,275,934 |  | 29,657,227 |  | 4,259,994
Accrued expenses and other liabilities |  | 1,500,951 |  | 3,420,728 |  | 491,358
Merchant deposits |  | 4,188,273 |  | 7,840,912 |  | 1,126,277
Short-term borrowings | ​ | — | ​ | 898,748 | ​ | 129,097
Lease liabilities | ​ | — | ​ | 90,523 | ​ | 13,003
Total current liabilities | ​ | 25,189,221 | ​ | 49,410,857 | ​ | 7,097,427
Lease liabilities | ​ | — | ​ | 382,673 | ​ | 54,968
Total non-current liabilities |  | — |  | 382,673 |  | 54,968
Total liabilities |  | 25,189,221 |  | 49,793,530 |  | 7,152,395
i) Information with respect to related parties is discussed in Note 19. 1. Organization (Continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ | ​ | 2017 | ​ | 2018 | ​ | 2019
​ |  | RMB |  | RMB |  | RMB |  | US$
Net revenues from | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Group companies |  | 207,570 | ​ | 298,415 |  | 2,244,429 |  | 322,392
External |  | 1,744,076 | ​ | 10,136,874 |  | 17,630,903 |  | 2,532,521
Net revenues |  | 1,951,646 | ​ | 10,435,289 |  | 19,875,332 |  | 2,854,913
Net loss |  | (8,924) | ​ | (1,552,789) |  | (3,611,656) |  | (518,782)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ | ​ | 2017 | ​ | 2018 | ​ | 2019
​ |  | RMB |  | RMB |  | RMB |  | US$
Net cash generated from operating activities |  | 10,391,383 | ​ | 8,984,498 |  | 11,139,572 |  | 1,600,099
Net cash generated from /(used in) investing activities |  | 88,404 | ​ | (1,147,101) |  | (5,249,046) |  | (753,978)
Net cash provided by financing activities |  | 200,000 | ​ | 507,767 |  | 4,546,481 |  | 653,061
Net increase in cash, cash equivalents and restricted cash |  | 10,679,787 | ​ | 8,345,164 |  | 10,437,007 |  | 1,499,182
​

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=118582676&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=118582676&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=118582676&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118582676&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118582676&loc=d3e5728-111685 + Details
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