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JD Finance reorganization (Tables)
 12 Months Ended
Dec. 31, 2017
JD Finance reorganization  
Schedule of assets, liabilities, redeemable non-controlling interests, results of operations and Cash flows of discontinued operations

 

 

As of December 31, 2016

 

 

 

RMB

 

ASSETS

 

 

 

Current assets

 

 

 

Cash and cash equivalents

 
4,204,659

 

Restricted cash

 
2,098,315

 

Accounts receivable, net

 
1,323,401

 

Advance to suppliers

 
1,166,619

 

Loan receivables, net

 
8,681,592

 

Other investments (*)

 
10,766,920

 

Other current assets

 
1,577,213

 

Elimination adjustments (**)

 
(7,664,225

)

 

 

 

 

Total current assets held for sale

 
22,154,494

 

Non-current assets

 

 

 

Other investments (*)

 
6,997,425

 

Other non-current assets

 
2,231,186

 

Elimination adjustments (**)

 
(1,896,200

)

 

 

 

 

Total non-current assets held for sale

 
7,332,411

 

 

 

 

 

Total assets held for sale

 
29,486,905

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

Short-term borrowings

 
6,455,031

 

Nonrecourse securitization debt

 
158,112

 

Other current liabilities

 
17,144,259

 

 

 

 

 

Total current liabilities held for sale

 
23,757,402

 

Non-current liabilities

 

 

 

Nonrecourse securitization debt

 
1,759,238

 

Other non-current liabilities

 
52,374

 

 

 

 

 

Total non-current liabilities held for sale

 
1,811,612

 

 

 

 

 

Total liabilities held for sale

 
25,569,014

 

 

 

 

 

 

 

 

 

Redeemable non-controlling interests held for sale

 
7,056,921

 

 

(*) Other investments represent various financial products with variable interest rates or principal non-guaranteed purchased by JD Finance from financial institutions, which are referred to as the issuers, such as commercial banks, insurance companies and trust companies. The underlying assets of the financial products mainly include debt securities, equity securities and loan receivables, and the interest generated from the financial products depends on the performance of the underlying assets. The issuers of these products generally attempt to maintain a relatively fixed “expected” interest rate throughout the terms of such structured products. The financial products are used by JD Finance as underlying assets in designing new financial products that it will in turn offer to third-party investors. These redesigned financial products to be resold to third-party investors have relatively lower yield rates such that JD Finance will earn yield differentials.

(**) The intra-group transactions should be eliminated in full as normal. As the Group will continue provide the financial support to JD Finance, therefore, the elimination entries were recorded in discontinued operations/held for sales assets/liabilities.

 

 

 

For the year ended December 31,

 

 

 

2015

 

2016

 

2017(***)

 

 

 

RMB

 

RMB

 

RMB

 

Net revenues

 
233,125

 
1,831,698

 
2,392,903

 

Operating expenses

 
(1,346,212

)
(2,724,942

)
(2,067,622

)

 

 

 

 

 

 

 

 

Income/(Loss) from operations of discontinued operations

 
(1,113,087

)
(893,244

)
325,281

 

Other expenses

 
(262,709

)
(459,079

)
(316,245

)

 

 

 

 

 

 

 

 

Income/(Loss) from discontinued operations before tax

 
(1,375,796

)
(1,352,323

)
9,036

 

Income tax expenses

 
(384

)
(13,109

)
(2,121

)

 

 

 

 

 

 

 

 

Net income/(loss) from discontinued operations, net of tax

 
(1,376,180

)
(1,365,432

)
6,915

 

 

 

 

 

 

 

 

 

Net loss from discontinued operations attributable to non-controlling interests shareholders

 

—

 
(3,743

)
(5,030

)

Net income from discontinued operations attributable to mezzanine classified non-controlling interests shareholders

 

—

 
444,657

 
281,021

 

 

 

 

 

 

 

 

 

Net loss from discontinued operations attributable to ordinary shareholders

 
(1,376,180

)
(1,806,346

)
(269,076

)

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31,

 

 

 

2015

 

2016

 

2017(***)

 

 

 

RMB

 

RMB

 

RMB

 

Net cash used in discontinued operating activities

 
(1,341,346

)
(1,226,526

)
(2,485,741

)

Net cash provided by/(used in) discontinued investing activities

 
2,018,461

 
(30,510,335

)
(15,772,856

)

Net cash provided by discontinued financing activities

 
865,542

 
32,050,146

 
14,054,620

 

 

(***) Included financial results of discontinued operations from January 1, 2017 to June 30, 2017.