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JD Digits reorganization (Tables)
 12 Months Ended
Dec. 31, 2018
JD Digits 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 Digits 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 Digits 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 Digits 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 Digits, therefore, the elimination entries were recorded in discontinued operations/held for sales assets/liabilities.

 

 

 

 

 

 

 

 

For the year ended December 31,

 

    

2016

    

2017 (***)

 

 

RMB

 

RMB

Net revenues

 

1,831,698

 

2,392,903

Operating expenses

 

(2,724,942)

 

(2,067,622)

Income/(Loss) from operations of discontinued operations

 

(893,244)

 

325,281

Other expenses

 

(459,079)

 

(316,245)

Income/(Loss) from discontinued operations before tax

 

(1,352,323)

 

9,036

Income tax expenses

 

(13,109)

 

(2,121)

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

 

(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

 

(1,806,346)

 

(269,076)

 

 

 

 

 

 

 

 

For the year ended December 31,

 

    

2016

    

2017 (***)

 

 

RMB

 

RMB

Net cash used in discontinued operating activities

 

(1,226,526)

 

(2,485,741)

Net cash used in discontinued investing activities

 

(28,412,020)

 

(17,871,171)

Net cash provided by discontinued financing activities

 

32,050,146

 

14,054,620

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