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v3.25.1

Taxation (Tables) | 12 Months Ended
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Dec. 31, 2024
Taxation |
Schedule of the combined effects of EIT exemptions and tax rate reductions | The following table presents the combined effects of EIT exemptions and tax rate reductions enjoyed by the Group for the years ended December 31, 2022, 2023 and 2024 (in thousands except per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
Aggregate amount of EIT exemptions and tax rate reductions |  | 2,631,764 |  | 3,228,359 |  | 3,654,069
Earnings per share effect, basic |  | 0.81 |  | 1.00 |  | 1.14
Earnings per share effect, diluted |  | 0.80 |  | 0.99 |  | 1.13
​
Schedule of component of income tax expenses | The following table sets forth the components of income tax expenses of the Group for the years ended December 31, 2022, 2023 and 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
Current tax expense |  | 4,542,168 |  | 4,568,267 |  | 5,140,682
Deferred tax expense |  | 489,670 |  | 131,437 |  | 320,726
Income tax expenses |  | 5,031,838 |  | 4,699,704 |  | 5,461,408
Schedule of reconciliation of the differences between the statutory income tax rate and the effective income tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | % | ​ | % | ​ | %
Statutory income tax rate |  | 25.0 |  | 25.0 |  | 25.0
Permanent differences |  | (5.0) |  | (7.1) |  | (6.3)
Effect due to different tax rates applicable to overseas entities |  | 0.2 |  | 0.2 |  | 1.0
Effect of lower tax rate applicable to HNTEs and EIT exemptions |  | (10.1) |  | (9.5) |  | (10.2)
Change in valuation allowance and others |  | 1.8 |  | 0.6 |  | 1.5
Effect of withholding income tax (d) |  | 8.8 |  | 4.6 |  | 4.3
Effective income tax rate |  | 20.7 |  | 13.8 |  | 15.3
​
Schedule of tax impact of significant temporary differences that give rise to the deferred tax assets and liabilities | The following table presents the tax impact of significant temporary differences that give rise to the deferred tax assets and liabilities as of December 31, 2023 and 2024 (in thousands): ​
​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2024
​ | ​ | RMB | ​ | RMB
Deferred tax assets: | ​ | ​ | ​ | ​
Contract liabilities, primarily for advanced payments from online games customers |  | 1,043,715 |  | 1,088,998
Accruals and others |  | 810,707 |  | 256,777
Net operating tax loss carry forward |  | 3,424,344 |  | 3,684,913
​ |  | 5,278,766 |  | 5,030,688
Less: valuation allowance |  | (3,718,678) |  | (3,917,253)
Total |  | 1,560,088 |  | 1,113,435
​
​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2024
​ | ​ | RMB | ​ | RMB
Deferred tax liabilities: | ​ | ​ | ​ | ​
Withholding income tax(d) |  | 2,165,573 |  | 2,053,668
Others |  | 133,730 |  | 119,449
Total |  | 2,299,303 |  | 2,173,117
Schedule of movement of the aggregate valuation allowances for deferred tax assets | The following table sets forth the movement of the aggregate valuation allowances for deferred tax assets for the periods presented (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Balance at |  | Net change |  | Balance at
​ | ​ | January 1 | ​ | for the year | ​ | December 31
​ | ​ | RMB | ​ | RMB | ​ | RMB
2022 |  | 3,648,870 | ​ | 322,646 | ​ | 3,971,516
2023 |  | 3,971,516 | ​ | (252,838) | ​ | 3,718,678
2024 |  | 3,718,678 | ​ | 198,575 | ​ | 3,917,253

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