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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Dec. 31, 2017
CNY (¥)
CASH FLOW FROM OPERATING ACTIVITIES        
Net loss $ (1,000,834) ¥ (6,967,603) ¥ (10,217,125) ¥ (525,115)
Interest expense 20,951 145,858    
Provision for prepayments made on behalf of merchants 1,692 11,782 2,155  
Depreciation and amortization 91,619 637,831 497,003 2,265
Lease expense to reduce right-of-use assets 10,515 73,206    
Impairment of long-term investment   0 0 10,000
Interest and investment gain, net (30,104) (209,580) (78,267) (2,573)
Loss on disposal of property and equipment 25 175 13 64
Share-based compensation 367,392 2,557,706 6,841,573 13,380
Foreign exchange gain (773) (5,380)    
Share of results of equity investees (4,119) (28,676)    
Changes in operating assets and liabilities:        
Receivables from online payment platforms (115,399) (803,388) (159,413) (77,891)
Amounts due from related parties (127,390) (886,863) (576,121) (350,265)
Prepayments and other current assets 1,788 12,449 (790,732) (87,614)
Customer advances 59,537 414,488 135,029 54,299
Amounts due to related parties 147,200 1,024,779 402,056 51,081
Payable due to merchants 1,817,180 12,650,833 7,437,415 8,721,721
Accrued expenses and other liabilities 380,486 2,648,869 1,864,153 318,363
Merchant deposits 524,669 3,652,639 2,410,188 1,558,613
Right-of-use assets (84,805) (590,394)    
Lease liabilities 78,188 544,327    
Other non-current assets (9,979) (69,471)    
Other non-current liabilities 1,061 7,389    
Net cash provided by operating activities 2,128,900 14,820,976 7,767,927 9,686,328
CASH FLOW FROM INVESTING ACTIVITIES        
Purchase of short-term investments (7,534,202) (52,451,615) (7,516,370) (1,393,000)
Proceeds from sales of short-term investments 3,561,957 24,797,630 50,000 1,633,000
Purchase of long-term investments (30,754) (214,100) (184,637)  
Proceeds from disposal of a long-term investment     5,000  
Purchase of property, equipment and software (3,941) (27,436) (27,331) (8,921)
Proceeds from disposal of property and equipment 68 475 39 362
Loans to related parties (66,022) (459,632)   (159,790)
Repayments from related parties     159,790  
(Loans to)/Repayments from third parties 5,027 35,000 (35,000)  
Net cash provided by/(used in) investing activities (4,067,867) (28,319,678) (7,548,509) 71,651
CASH FLOW FROM FINANCING ACTIVITIES        
Proceeds from the initial public offering     11,879,944  
Costs incurred for the initial public offering     (356,313)  
Proceeds from follow-on offering 1,177,080 8,194,597    
Costs incurred for the follow-on offering (28,839) (200,769)    
Proceeds from issuance of convertible preferred shares     5,824,568 1,446,906
Costs incurred for the issuance of convertible preferred shares     (3,842) (15,369)
Repurchase of Class B ordinary shares       (32,677)
Proceeds from issuance of convertible bonds 1,015,987 7,073,101    
Costs incurred for the issuance of convertible bonds (15,688) (109,220)    
Proceeds from short-term borrowings 128,850 897,022    
Net cash provided by financing activities 2,277,390 15,854,731 17,344,357 1,398,860
Effect of exchange rate changes on cash, cash equivalents and restricted cash 64,659 450,142 546,910 (47,681)
Increase in cash, cash equivalents and restricted cash 403,082 2,806,171 18,110,685 11,109,158
Cash, cash equivalents and restricted cash at beginning of year 4,386,751 30,539,686 12,429,001 1,319,843
Cash, cash equivalents and restricted cash at end of year 4,789,833 33,345,857 30,539,686 12,429,001
Supplement disclosure of cash flow information:        
Interest income received 174,013 1,211,443 433,390 52,150
Supplement disclosure of non-cash operating activities :        
Recognition of right-of-use assets and lease liabilities 90,854 632,507    
Supplement disclosure of non-cash investing activities:        
Purchase of property, equipment and software included in accrued expenses and other liabilities $ 310 ¥ 2,160 1,319 ¥ 198
Acquisition of intangible asset     ¥ 2,852,370