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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2018
Taxation |
Schedule of components of income/(loss) before tax |
|  | For the year ended December 31,
|  | 2016 |  | 2017 |  | 2018
|  | RMB |  | RMB |  | RMB
Income/(loss) before tax |  |  |  |  |  |
Income/(loss) from China operations |  | 1,730,549 |  | 3,681,735 |  | (578,300)
Loss from non-China operations |  | (3,612,450) |  | (3,560,775) |  | (1,795,378)
Total income/(loss) before tax |  | (1,881,901) |  | 120,960 |  | (2,373,678)
Income tax benefits/(expenses) applicable to China operations |  |  |  |  |  |
Current income tax expenses |  | (201,173) |  | (360,603) |  | (437,326)
Deferred tax benefits |  | 34,782 |  | 221,010 |  | 10,454
Subtotal income tax expenses applicable to China operations |  | (166,391) |  | (139,593) |  | (426,872)
Total income tax expenses |  | (166,391) |  | (139,593) |  | (426,872)
Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate | :
|  | For the year ended December 31, |
|  | 2016 |  | 2017 |  | 2018 |
Statutory income tax rate |  | 25.0 | % | 25.0 | % | 25.0 | %
Tax effect of preferential tax treatments |  | 45.3 | % | (942.7) | % | 8.3 | %
Tax effect of tax-exempt entities |  | (36.1) | % | 588.6 | % | (1.9) | %
Effect on tax rates in different tax jurisdiction |  | (3.6) | % | 30.5 | % | 2.2 | %
Tax effect of non-deductible expenses |  | (28.1) | % | 536.0 | % | (42.4) | %
Tax effect of non-taxable income |  | 0.1 | % | (14.0) | % | 3.8 | %
Tax effect of Super Deduction and others |  | — |  | — |  | 53.9 | %
Changes in valuation allowance |  | (11.4) | % | (120.8) | % | (66.7) | %
Expiration of loss carry forwards |  | 0.0 | % | 12.8 | % | (0.2) | %
Effective tax rates |  | (8.8) | % | 115.4 | % | (18.0) | %
Summary of income tax holiday |
|  | For the year ended December 31,
|  | 2016 |  | 2017 |  | 2018
|  | RMB |  | RMB |  | RMB
Tax holiday effect |  | 852,776 |  | 1,140,251 |  | 198,118
Effect of tax holiday on basic net loss per share |  | 0.30 |  | 0.40 |  | 0.07
Effect of tax holiday on diluted net loss per share |  | 0.30 |  | 0.39 |  | 0.07
Schedule of deferred tax assets and deferred tax liabilities |
|  | As of December 31,
|  | 2017 |  | 2018
|  | RMB |  | RMB
Deferred tax assets |  |  |  |
- Net operating loss carry forwards |  | 1,162,287 |  | 2,028,350
- Deferred revenues |  | 299,723 |  | 283,824
- Inventory valuation allowance |  | 124,693 |  | 217,215
- Allowance for doubtful accounts |  | 52,117 |  | 88,036
- Unrealized fair value loss for certain investments |  | — |  | 482,027
Less: valuation allowance |  | (1,480,570) |  | (2,996,294)
Net deferred tax assets |  | 158,250 |  | 103,158
Deferred tax liabilities |  |  |  |
- Intangible assets arisen from business combination |  | 882,248 |  | 819,032
- Others |  | — |  | 9,441
Total deferred tax liabilities |  | 882,248 |  | 828,473
Schedule of movement of valuation allowance |
|  | As of December 31,
|  | 2016 |  | 2017 |  | 2018
|  | RMB |  | RMB |  | RMB
Balance at beginning of the period |  | 1,299,200 |  | 1,626,680 |  | 1,480,570
Additions |  | 1,324,793 |  | 807,558 |  | 2,755,222
Reversals |  | (997,313) |  | (953,668) |  | (1,239,498)
Balance at end of the period |  | 1,626,680 |  | 1,480,570 |  | 2,996,294

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