Investment in equity investees (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of condensed financial information of the Company's equity investments

	For the year ended December 31,
	2015		2016
	RMB		RMB
Operating data:
Revenue	9,937,684		37,129,877
Gross profit	2,935,620		4,829,800
Loss from operations	(1,592,094	)	(3,138,278	)
Net loss	(1,572,381	)	(3,376,144	)
Net loss attributable to shareholder	(1,597,903	)	(3,736,188	)

	As of December 31,
	2015		2016
	RMB		RMB
Balance sheet data:
Current assets	13,606,870		47,159,053
Non-current assets	6,838,075		26,252,671
Current liabilities	6,518,096		27,108,229
Non-current liabilities	146,008		4,559,231
Redeemable stock	—		4,795,473
Non-controlling interests	1,714,021		4,072,998

Yonghui Group

Schedule of excess of carrying value of investment proportionate share of investees' net tangible and intangible assets

	As of August 11, 2016		As of December 31, 2016
	RMB		RMB

Carrying value of investment in Yonghui	4,234,929		4,234,845
Proportionate share of Yonghui’s net tangible and intangible assets	1,869,905		1,877,196

Excess of carrying value of the investment over proportionate share of Yonghui’s net tangible and intangible assets	2,365,024		2,357,649


The excess of carrying value has been primarily assigned to:
Goodwill	1,270,190		1,270,190
Amortizable intangible assets (*)	1,459,779		1,449,946
Deferred tax liabilities	(364,945	)	(362,487	)

	2,365,024		2,357,649


Cumulative losses in equity interest in Yonghui	—		(84	)

(*) Weighted average life of the intangible assets not included in Yonghui’s consolidated financial statements was 18 years.

Bitauto Group

Schedule of excess of carrying value of investment proportionate share of investees' net tangible and intangible assets

	As of February 16, 2015		As of December 31, 2015		As of December 31, 2016
	RMB		RMB		RMB

Carrying value of investment in Bitauto (*)	5,496,188		2,881,194		2,386,118
Proportionate share of Bitauto’s net tangible and intangible assets	2,119,109		2,141,053		2,492,056

Excess of carrying value of the investment over proportionate share of Bitauto’s net tangible and intangible assets	3,377,079		740,141		(105,938	)


The excess of carrying value has been primarily assigned to:
Goodwill (*)	2,846,260		260,619		—
Amortizable intangible assets (**)	707,758		639,362		(105,938	)
Deferred tax liabilities	(176,939	)	(159,840	)	—

	3,377,079		740,141		(105,938	)


Cumulative losses in equity interest in Bitauto	—		(2,614,994	)	(3,439,045	)

(*) In the fourth quarter of 2015 and 2016, the Group conducted an impairment assessment on its investment in Bitauto considering the duration and severity of the decline of Bitauto’s stock price after the investment, as well as the financial condition, operating performance and the prospects of Bitauto, and concluded the decline in fair value of the investment was other-than-temporary. Accordingly, the Group recorded a charge of RMB2,585,641 and RMB672,886 to write down the carrying value of its investment in Bitauto to the fair value, based on quoted closing price of Bitauto’s stock as of December 31, 2015 and 2016, respectively.

(**) Weighted average life of the intangible assets not included in Bitauto’s consolidated financial statements was 5 years.

Dada Group

Schedule of excess of carrying value of investment proportionate share of investees' net tangible and intangible assets

	As of		As of
	April 26, 2016		December 31, 2016
	RMB		RMB

Carrying value of investment in Dada’s ordinary shares	2,164,050		1,443,239
Proportionate share of Dada’s net tangible assets, liabilities and intangible assets	424,140		(290,365	)

Excess of carrying value of the investment over proportionate share of Dada’s net tangible and intangible assets	1,739,910		1,733,604


The excess of carrying value has been primarily assigned to:
Goodwill	1,605,891		1,605,891
Amortizable intangible assets (*)	178,692		170,284
Deferred tax liabilities	(44,673	)	(42,571	)

	1,739,910		1,733,604


Cumulative losses in equity interest in Dada	—		(720,811	)

(*) Weighted average life of the intangible assets not included in Dada’s consolidated financial statements was 9 years.

Schedule of the estimated fair value of the assets/investments received

		As of
		April 26, 2016
		RMB

Assets/investments received by the Group
Dada’s ordinary shares		2,164,050
Dada’s preferred shares		1,298,700
Warrant to purchase Dada’s preferred shares		45,450

		3,508,200

Tuniu Group

Schedule of excess of carrying value of investment proportionate share of investees' net tangible and intangible assets

	As of		As of		As of
	May 22, 2015		December 31, 2015		December 31, 2016
	RMB		RMB		RMB

Carrying value of investment in Tuniu (*)	2,494,145		2,343,301		1,198,405
Proportionate share of Tuniu’s net tangible and intangible assets	1,014,296		878,668		1,006,763

Excess of carrying value of the investment over proportionate share of Tuniu’s net tangible and intangible assets	1,479,849		1,464,633		191,642


The excess of carrying value has been primarily assigned to:
Goodwill (*)	1,212,149		1,212,149		23,899
Amortizable intangible assets (**)	356,933		336,645		223,657
Deferred tax liabilities	(89,233	)	(84,161	)	(55,914	)

	1,479,849		1,464,633		191,642


Cumulative gains/(losses) in equity interest in Tuniu	—		(150,844	)	(1,295,740)

(*) In the second quarter of 2016, the Group conducted an impairment assessment on its investment in Tuniu considering the duration and severity of the decline of Tuniu’s stock price after the investment, and concluded the decline in fair value of the investment was other-than-temporary. Accordingly, the Group recorded a charge of RMB721,501 to write down the carrying value of its investment in Tuniu to its then fair value of RMB1,454,578, based on the quoted closing price of Tuniu as of June 30, 2016.

(**) Weighted average life of the intangible assets not included in Tuniu’s financial statements was 8 years.