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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
CNY (¥)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
CNY (¥)
Dec. 31, 2021
CNY (¥)
Cash flows from operating activities:        
Net income ¥ 29,357,223 $ 4,134,878 ¥ 19,843,290 ¥ 16,976,190
Net income from discontinued operations     (624,864)  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 3,055,260 430,324 2,858,209 3,275,727
Fair value change of equity security investments (535,316) (75,398) 3,104,336 (471,880)
Impairment losses on investments and other long-term assets 469,159 66,080 300,249 100,424
Share-based compensation cost 3,242,810 456,740 3,174,160 3,041,492
Allowance for expected credit losses 61,146 8,612 61,393 265,930
Losses on disposal of property, equipment and software 5,676 799 3,620 54,052
Unrealized exchange losses/ (gains) 119,935 16,893 (1,604,260) 488,604
Gains on disposal of long-term investments, business and subsidiaries (63,784) (8,984) (1,791,355) (186,920)
Deferred income taxes 131,437 18,513 489,670 407,948
Share of results on equity method investees and revaluation results from previously held equity interest (473,947) (66,754) (1,259,941) (1,573,068)
Fair value changes of short-term investments (414,207) (58,340) (342,642) (639,757)
Changes in operating assets and liabilities:        
Accounts receivable (1,470,374) (207,098) 554,340 (1,186,586)
Inventories 296,764 41,798 (27,613) (343,587)
Prepayments and other assets 87,556 12,332 731,100 640,349
Accounts payable (559,419) (78,792) 447,666 (155,262)
Salary and welfare payables (62,917) (8,862) 424,513 505,334
Taxes payable (244,261) (34,403) (917,614) 255,060
Contract liabilities 1,161,861 163,645 385,396 1,351,261
Accrued liabilities and other payables 1,166,673 164,323 1,899,580 2,121,416
Net cash provided by operating activities 35,331,275 4,976,306 27,709,233 24,926,727
Cash flows from investing activities:        
Purchase of property, equipment and software (2,301,554) (324,167) (2,100,264) (1,601,830)
Proceeds from sale of property, equipment and software 10,302 1,451 41,467 71,524
Purchase of intangible assets, content and licensed copyrights (1,974,323) (278,078) (543,220) (1,508,179)
Net change of short-term investments with terms of three months or less (1,777,687) (250,382) 776,357 3,694,890
Purchase of short-term investments with terms over three months     (5,950,000) (15,285,000)
Proceeds from maturities of short-term investments with terms over three months 5,378,510 757,547 10,175,160 13,235,845
Investment in equity method investees (444,557) (62,615) (705,907) (1,124,429)
Investment in other equity investments and acquisition of subsidiaries (2,387,129) (336,219) (4,423,773) (5,417,138)
Proceeds from disposal of long-term investments, businesses and subsidiaries 152,564 21,488 2,411,070 1,115,457
Placement/rollover of matured time deposits (124,693,598) (17,562,726) (98,973,884) (81,298,080)
Proceeds from maturities of time deposits 111,417,969 15,692,893 92,247,046 81,307,297
Change in other long-term assets (423,928) (59,709) (323,779) (268,651)
Net cash used in investing activities (17,043,431) (2,400,517) (7,369,727) (7,078,294)
Cash flows from financing activities:        
Net changes from short-term loans with terms of three months or less (13,654,704) (1,923,225) (1,274,043) (442,207)
Proceed of loans with terms over three months 13,569,160 1,911,176 6,392,695 4,447,586
Payment of loans with terms over three months (8,219,472) (1,157,688) (273,639) (2,297,135)
Dividends paid to shareholders (8,013,903) (1,128,735) (6,723,667) (3,508,377)
Net amounts paid for NetEase's issuance of shares in Hong Kong       (13,800)
Net amounts received/ (paid) related to capital contribution from or repurchase of noncontrolling interests and redeemable noncontrolling interests shareholders 86,159 12,136 (30,921) 2,870,147
Dividends paid to noncontrolling interest shareholders       (731,250)
Cash paid for repurchase of NetEase's ADSs/purchase of subsidiaries' ADSs and shares (5,234,294) (737,235) (8,328,124) (12,910,533)
Net cash used in financing activities (21,467,054) (3,023,571) (10,237,699) (12,585,569)
Effect of exchange rate changes on cash, cash equivalents and restricted cash held in foreign currencies (202,457) (28,516) 110,403 (55,354)
Net increase/ (decrease) in cash, cash equivalents and restricted cash (3,381,667) (476,298) 10,212,210 5,207,510
Cash, cash equivalents and restricted cash, at the beginning of the year 27,588,325 3,885,734 17,376,115 12,168,605
Cash, cash equivalents and restricted cash, at end of the year 24,206,658 3,409,436 27,588,325 17,376,115
Supplemental disclosures of cash flow information:        
Cash paid for income taxes, net 4,895,752 689,552 5,092,391 3,547,299
Cash paid for interest expenses 779,872 109,843 588,381 187,628
Supplemental schedule of non-cash investing and financing activities:        
Fixed asset purchases financed by accounts payable and accrued liabilities ¥ 1,026,852 $ 144,629 ¥ 689,093 ¥ 698,192