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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2019
Taxation |
Schedule of components of income/(loss) before tax |
|  | For the year ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Income/(loss) before tax |  |  |  |  |  |  |  |  |  |  |  |
Income/(loss) from China operations |  |  | 3,681,735 |  |  |  | (578,300 | ) |  |  | 14,177,105 |
Loss from non-China operations |  |  | (3,560,775 | ) |  |  | (1,795,378 | ) |  |  | (484,573 | )
Total income/(loss) before tax |  |  | 120,960 |  |  |  | (2,373,678 | ) |  |  | 13,692,532 |
Income tax benefits/(expenses) applicable to China operations |  |  |  |  |  |  |  |  |  |  |  |
Current income tax expenses |  |  | (360,603 | ) |  |  | (437,326 | ) |  |  | (1,269,323 | )
Deferred tax benefits /(expen ses) |  |  | 221,010 |  |  |  | 10,454 |  |  |  | (533,117 | )
Subtotal income tax expenses applicable to China operations |  |  | (139,593 | ) |  |  | (426,872 | ) |  |  | (1,802,440 | )
Total income tax expenses |  |  | (139,593 | ) |  |  | (426,872 | ) |  |  | (1,802,440 | )
Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate |
|  | For the year ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
Statutory income tax rate |  |  | 25.0 | % |  |  | 25.0 | % |  |  | 25.0 | %
Tax effect of preferential tax rates and tax holiday |  |  | (942.7 | )% |  |  | 8.3 | % |  |  | (8.1 | )%
Tax effect of tax-exempt entities |  |  | 588.6 | % |  |  | (1.9 | )% |  |  | 3.7 | %
Effect on tax rates in different tax jurisdiction |  |  | 30.5 | % |  |  | 2.2 | % |  |  | (3.9 | )%
Tax effect of non-deductible expenses |  |  | 536.0 | % |  |  | (42.4 | )% |  |  | 5.7 | %
Tax effect of non-taxable income |  |  | (14.0 | )% |  |  | 3.8 | % |  |  | (1.0 | )%
Tax effect of Super Deduction and others |  |  | — |  |  |  | 53.9 | % |  |  | (13.2 | )%
Changes in valuation allowance |  |  | (120.8 | )% |  |  | (66.7 | )% |  |  | 5.0 | %
Expiration of loss carry forwards |  |  | 12.8 | % |  |  | (0.2 | )% |  |  | — |
Effective tax rates |  |  | 115.4 | % |  |  | (18.0 | )% |  |  | 13.2 | %
Summary of income tax holiday |
|  | For the year ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Tax holiday effect |  |  | 1,140,251 |  |  |  | 198,118 |  |  |  | 1,115,598 |
Effect of tax holiday on basic net income/( loss ) per share |  |  | 0.40 |  |  |  | 0.07 |  |  |  | 0.38 |
Effect of tax holiday on diluted net income/( loss ) per share |  |  | 0.39 |  |  |  | 0.07 |  |  |  | 0.38 |
Schedule of deferred tax assets and deferred tax liabilities |
|  | As of December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |
- Net operating loss carry forwards |  |  | 1,162,287 |  |  |  | 2,028,350 |  |  |  | 2,775,074 |
- Deferred revenues |  |  | 299,723 |  |  |  | 283,824 |  |  |  | 137,128 |
- Inventory valuation allowance |  |  | 124,693 |  |  |  | 217,215 |  |  |  | 271,605 |
- Allowance for doubtful accounts |  |  | 52,117 |  |  |  | 88,036 |  |  |  | 214,932 |
- Unrealized fair value losses for certain investments |  |  | — |  |  |  | 482,027 |  |  |  | 356,259 |
Less: valuation allowance |  |  | (1,480,570 | ) |  |  | (2,996,294 | ) |  |  | (3,674,442 | )
Net deferred tax assets |  |  | 158,250 |  |  |  | 103,158 |  |  |  | 80,556 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |
- Intangible assets arisen from business combination |  |  | 882,248 |  |  |  | 819,032 |  |  |  | 748,691 |
- Accelerated tax depreciation and others |  |  | — |  |  |  | 9,441 |  |  |  | 590,297 |
Total deferred tax liabilities |  |  | 882,248 |  |  |  | 828,473 |  |  |  | 1,338,988 |
Schedule of movement of valuation allowance |
|  | For the year ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Balance at beginning of the year |  |  | 1,626,680 |  |  |  | 1,480,570 |  |  |  | 2,996,294 |
Additions |  |  | 807,558 |  |  |  | 2,755,222 |  |  |  | 7,635,196 |
Reversals |  |  | (953,668 | ) |  |  | (1,239,498 | ) |  |  | (6,957,048 | )
Balance at end of the year |  |  | 1,480,570 |  |  |  | 2,996,294 |  |  |  | 3,674,442 |

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