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Condensed Financial Information of the Company | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information of the Company |
Condensed Financial Information of the Company | 25. Condensed Financial Information of the Company The following is the condensed financial information of the Company on a parent company only basis. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2018 | ​ | 2019
​ |  | RMB |  | RMB |  | US$
ASSETS | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | 5,541,746 |  | 661,714 |  | 95,049
Short-term investments | ​ | 6,260,689 | ​ | 6,157,221 | ​ | 884,429
Prepayments and other current assets | ​ | 18,789 |  | 17,906 |  | 2,572
Total current assets | ​ | 11,821,224 |  | 6,836,841 |  | 982,050
Non-current assets | ​ | ​ | ​ | ​ | ​ | ​
Intangible asset | ​ | 2,579,338 | ​ | 1,994,292 | ​ | 286,462
Investments in subsidiaries, the VIE and subsidiaries of the VIE | ​ | 4,440,777 |  | 21,053,370 |  | 3,024,127
Total non-current assets | ​ | 7,020,115 |  | 23,047,662 |  | 3,310,589
Total assets | ​ | 18,841,339 |  | 29,884,503 |  | 4,292,639
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND SHAREHOLDERS' EQUITY | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ |  |  |  |  | ​
Accrued expenses and other liabilities | ​ | 18,745 |  | 23,566 |  | 3,385
Total current liabilities | ​ | 18,745 |  | 23,566 |  | 3,385
​ | ​ | ​ | ​ | ​ | ​ | ​
Convertible bonds | ​ | — |  | 5,206,682 |  | 747,893
Other non-current liabilities | ​ | — |  | 7,389 |  | 1,061
Total non-current liabilities | ​ | — |  | 5,214,071 |  | 748,954
Total liabilities | ​ | 18,745 |  | 5,237,637 |  | 752,339
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Shareholders’ equity |  |  |  |  |  |
Class A ordinary shares (US$0.000005 par value; 77,300,000,000 shares authorized, 2,381,240,988 issued and outstanding as of December 31, 2018;77,300,000,000 shares authorized, 2,575,580,988 issued and outstanding as of December 31, 2019) |  | 78 |  | 84 |  | 12
Class B ordinary shares (US$0.000005 par value; 2,200,000,000 authorized, 2,074,447,700 issued and outstanding as of December 31, 2018 and 2019) |  | 64 |  | 64 |  | 9
Additional paid-in capital |  | 29,114,527 |  | 41,493,949 |  | 5,960,233
Accumulated other comprehensive income |  | 1,035,783 |  | 1,448,230 |  | 208,025
Accumulated deficits |  | (11,327,858) |  | (18,295,461) |  | (2,627,979)
Total shareholders' equity |  | 18,822,594 |  | 24,646,866 |  | 3,540,300
Total liabilities and shareholders’ equity |  | 18,841,339 |  | 29,884,503 |  | 4,292,639
​ ​ 25. Condensed Financial Information of the Company (Continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ |  | 2017 | ​ | 2018 | ​ | 2019
​ |  | RMB | ​ | RMB |  | RMB |  | US$
Costs of revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Costs of online marketplace services | ​ | — | ​ | (491,069) | ​ | (619,733) | ​ | (89,019)
Total costs of revenues | ​ | — | ​ | (491,069) | ​ | (619,733) | ​ | (89,019)
Sales and marketing expenses | ​ | — | ​ | (4,106) | ​ | (47,746) | ​ | (6,858)
General and administrative expenses |  | (165) | ​ | (4,101) |  | (3,245) |  | (466)
Total operating expenses |  | (165) | ​ | (8,207) |  | (50,991) |  | (7,324)
Operating loss |  | (165) | ​ | (499,276) |  | (670,724) |  | (96,343)
Interest income |  | 8,264 | ​ | 207,597 |  | 318,166 |  | 45,702
Interest expense | ​ | — | ​ | — | ​ | (144,132) | ​ | (20,703)
Foreign exchange gain |  | — | ​ | 113 |  | — |  | —
Other loss |  | — | ​ | — |  | (31) |  | (4)
Share of losses from subsidiaries, the VIE and subsidiaries of the VIE |  | (533,214) | ​ | (9,925,559) |  | (6,470,882) |  | (929,484)
Loss before income tax |  | (525,115) | ​ | (10,217,125) |  | (6,967,603) |  | (1,000,832)
Income tax expenses | ​ | — | ​ | — | ​ | — | ​ | —
Net loss |  | (525,115) | ​ | (10,217,125) |  | (6,967,603) |  | (1,000,832)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income, net of tax of nil |  |  | ​ |  |  |  |  |
Foreign currency translation difference, net of tax of nil |  | (47,681) | ​ | 1,058,884 |  | 412,447 |  | 59,244
Comprehensive loss |  | (572,796) | ​ | (9,158,241) |  | (6,555,156) |  | (941,588)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ | ​ | 2017 | ​ | 2018 | ​ | 2019
​ |  | RMB | ​ | RMB |  | RMB |  | US$
Net cash generated from operating activities | ​ | 2,753 | ​ | 110,724 |  | 259,409 |  | 37,262
Cash flows from investing activities: | ​ | ​ | ​ |  |  |  |  |
Proceeds from sales of short-term investments | ​ | — | ​ | — | ​ | 6,049,590 |  | 868,969
Cash given to purchase of short-term investments | ​ | — | ​ | (6,146,370) | ​ | (5,998,024) | ​ | (861,562)
Cash given to subsidiaries, the VIE and subsidiaries of the VIE | ​ | (1,058,908) | ​ | (6,749,831) | ​ | (20,293,132) |  | (2,914,926)
Net cash used in investing activities | ​ | (1,058,908) | ​ | (12,896,201) | ​ | (20,241,566) |  | (2,907,519)
Cash flows from financing activities: | ​ | ​ | ​ | ​ |  | ​ |  | ​
Proceeds from initial public offering | ​ | — | ​ | 11,879,944 |  | — |  | —
Costs incurred for the initial public offering costs | ​ | — | ​ | (356,313) | ​ | — | ​ | —
Proceeds from follow-on offering | ​ | — | ​ | — |  | 8,194,597 |  | 1,177,080
Costs incurred for the issuance costs of follow-on offering | ​ | — | ​ | — | ​ | (200,769) | ​ | (28,839)
Proceeds from issuance of convertible bonds | ​ | — | ​ | — |  | 7,073,101 |  | 1,015,987
Costs incurred for the issuance of convertible bonds | ​ | — | ​ | — | ​ | (106,344) | ​ | (15,275)
Proceeds from issuance of convertible preferred shares | ​ | 1,446,906 | ​ | 5,824,568 | ​ | — | ​ | —
Costs incurred for the issuance at convertible preferred shares | ​ | (15,369) | ​ | (3,842) | ​ | — | ​ | —
Repurchase of Class B Ordinary Shares | ​ | (32,677) | ​ | — |  | — |  | —
Net cash generated from financing activities | ​ | 1,398,860 | ​ | 17,344,357 |  | 14,960,585 |  | 2,148,953
Exchange rate effect on cash, cash equivalents and restricted cash | ​ | (47,820) | ​ | 319,221 |  | 141,540 |  | 20,331
Net increase/(decrease) in cash, cash equivalents and restricted cash | ​ | 294,885 | ​ | 4,878,101 |  | (4,880,032) |  | (700,973)
Cash, cash equivalents and restricted cash at beginning of year | ​ | 368,760 | ​ | 663,645 |  | 5,541,746 |  | 796,022
Cash, cash equivalents and restricted cash at end of year | ​ | 663,645 | ​ | 5,541,746 |  | 661,714 |  | 95,049
​ 25. Condensed Financial Information of the Company (Continued) Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries, the VIE and subsidiaries of the VIE. The parent company records its investment in its subsidiaries, the VIE and its subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as ''Investments in subsidiaries, the VIE and a subsidiaries of the VIE'' or ''Loss in excess of investments in subsidiaries, the VIE and subsidiaries of the VIE'' and their respective loss as ''Share of loss in subsidiaries, the VIE and a subsidiaries of the VIE'' on the condensed statements of comprehensive loss. Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in subsidiaries, the VIE and subsidiaries of the VIE is reduced to zero unless the parent company has guaranteed obligations of the subsidiaries, the VIE and subsidiaries of the VIE or is otherwise committed to provide further financial support. If the subsidiaries, the VIE subsidiaries of the VIE subsequently reports net income, the parent company shall resume applying the equity method only after its share of that net income equals the share of net loss not recognized during the period the equity method was suspended. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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