XML 39 R33.htm IDEA: XBRL DOCUMENT v3.20.1

Condensed Financial Information of the Company

12 Months Ended

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.

X

- References

No definition available.

+ Details

Name:	srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix:	srt_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration