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Parent company only condensed financial information | 12 Months Ended
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Dec. 31, 2019
Parent company only condensed financial information |
Parent company only condensed financial information | 37. Parent company only condensed financial information The Company performed a test on the restricted net assets of the consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the parent company only. The subsidiaries did not pay any dividend to the Company for the periods presented. Certain information and footnote disclosures generally included in the financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. As of December 31, 2019, the Company did not have significant capital commitments and other significant commitments, or guarantees, except for those which have been separately disclosed in the consolidated financial statements. Condensed Balance Sheets
|  | As of December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
|  |  |  |  |  |  |  |  |  |  | Note 2(g) |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 8,964,809 |  |  |  | 2,196,796 |  |  |  | 6,575,639 |  |  |  | 944,531 |
Short term investments |  |  | — |  |  |  | 755 |  |  |  | 767 |  |  |  | 110 |
Prepayments and other current assets |  |  | 63,853 |  |  |  | 121,822 |  |  |  | 2,408 |  |  |  | 346 |
Amount due from related parties |  |  | 715,671 |  |  |  | 1,555,288 |  |  |  | 3,186,818 |  |  |  | 457,758 |
Total current assets |  |  | 9,744,333 |  |  |  | 3,874,661 |  |  |  | 9,765,632 |  |  |  | 1,402,745 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in equity investees |  |  | 7,514 |  |  |  | — |  |  |  | — |  |  |  | — |
Investments in subsidiaries and consolidated VIEs |  |  | 45,675,625 |  |  |  | 64,127,171 |  |  |  | 81,301,020 |  |  |  | 11,678,161 |
Investment securities |  |  | 35,893 |  |  |  | 12,978 |  |  |  | 13,192 |  |  |  | 1,895 |
Intangible assets, net |  |  | 3,092,549 |  |  |  | 1,569,483 |  |  |  | 965,165 |  |  |  | 138,637 |
Other non-current assets |  |  | — |  |  |  | 121,453 |  |  |  | 106,030 |  |  |  | 15,230 |
Total non-current assets |  |  | 48,811,581 |  |  |  | 65,831,085 |  |  |  | 82,385,407 |  |  |  | 11,833,923 |
Total assets |  |  | 58,555,914 |  |  |  | 69,705,746 |  |  |  | 92,151,039 |  |  |  | 13,236,668 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | — |  |  |  | — |  |  |  | 140 |  |  |  | 20 |
Taxes payable |  |  | — |  |  |  | — |  |  |  | 4,497 |  |  |  | 646 |
Accrued expenses and other liabilities |  |  | 67,743 |  |  |  | 60,190 |  |  |  | 238,650 |  |  |  | 34,279 |
Total current liabilities |  |  | 67,743 |  |  |  | 60,190 |  |  |  | 243,287 |  |  |  | 34,945 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term borrowings |  |  | — |  |  |  | 3,088,440 |  |  |  | 3,139,290 |  |  |  | 450,931 |
Unsecured senior notes |  |  | 6,447,357 |  |  |  | 6,786,143 |  |  |  | 6,912,492 |  |  |  | 992,917 |
Total non-current liabilities |  |  | 6,447,357 |  |  |  | 9,874,583 |  |  |  | 10,051,782 |  |  |  | 1,443,848 |
Total liabilities |  |  | 6,515,100 |  |  |  | 9,934,773 |  |  |  | 10,295,069 |  |  |  | 1,478,793 |
SHAREHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ordinary shares (US$0.00002 par value; 100,000,000,000 shares authorized; 2,477,346,590 Class A ordinary shares issued and 2,406,652,132 outstanding, 461,362,309 Class B ordinary shares issued and 446,011,297 outstanding as of December 31, 2017; 2,507,473,330 Class A ordinary shares issued and 2,447,926,638 outstanding, 458,342,517 Class B ordinary shares issued and 446,369,717 outstanding as of December 31, 2018; 2,520,271,138 Class A ordinary shares issued and 2,480,575,334 outstanding, 453,672,011 Class B ordinary shares issued and 443,739,929 outstanding as of December 31, 2019) |  |  | 377 |  |  |  | 380 |  |  |  | 381 |  |  |  | 55 |
Additional paid-in capital |  |  | 76,254,607 |  |  |  | 82,832,895 |  |  |  | 90,676,122 |  |  |  | 13,024,810 |
Statutory reserves |  |  | 635,966 |  |  |  | 1,400,412 |  |  |  | 1,459,165 |  |  |  | 209,596 |
Treasury stock |  |  | (4,457,608 | ) |  |  | (3,783,729 | ) |  |  | (2,530,166 | ) |  |  | (363,436 | )
Accumulated deficit |  |  | (22,234,609 | ) |  |  | (24,038,081 | ) |  |  | (11,912,679 | ) |  |  | (1,711,149 | )
Accumulated other comprehensive income |  |  | 1,842,081 |  |  |  | 3,359,096 |  |  |  | 4,163,147 |  |  |  | 597,999 |
Total shareholders’ equity |  |  | 52,040,814 |  |  |  | 59,770,973 |  |  |  | 81,855,970 |  |  |  | 11,757,875 |
Total liabilities and shareholders’ equity |  |  | 58,555,914 |  |  |  | 69,705,746 |  |  |  | 92,151,039 |  |  |  | 13,236,668 |
Condensed Statements of Operations and Comprehensive Income
|  | For the year ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ Note 2(g) |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketing |  |  | (1,215,222 | ) |  |  | (1,218,920 | ) |  |  | (301,495 | ) |  |  | (43,307 | )
General and administrative |  |  | (556,534 | ) |  |  | (495,835 | ) |  |  | (469,688 | ) |  |  | (67,466 | )
Loss from operations |  |  | (1,771,756 | ) |  |  | (1,714,755 | ) |  |  | (771,183 | ) |  |  | (110,773 | )
Share of income/(loss) of subsidiaries and consolidated VIEs |  |  | 1,717,151 |  |  |  | (653,408 | ) |  |  | 12,575,644 |  |  |  | 1,806,378 |
Interest income |  |  | 66,848 |  |  |  | 220,186 |  |  |  | 163,974 |  |  |  | 23,553 |
Interest expense |  |  | (260,756 | ) |  |  | (315,683 | ) |  |  | (376,152 | ) |  |  | (54,031 | )
Others, net |  |  | 96,256 |  |  |  | (27,973 | ) |  |  | 591,872 |  |  |  | 85,017 |
Net income/(loss) |  |  | (152,257 | ) |  |  | (2,491,633 | ) |  |  | 12,184,155 |  |  |  | 1,750,144 |
Net income/(loss) attributable to ordinary shareholders |  |  | (152,257 | ) |  |  | (2,491,633 | ) |  |  | 12,184,155 |  |  |  | 1,750,144 |
Net income/(loss) |  |  | (152,257 | ) |  |  | (2,491,633 | ) |  |  | 12,184,155 |  |  |  | 1,750,144 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments |  |  | (822,052 | ) |  |  | 2,696,784 |  |  |  | 749,865 |  |  |  | 107,711 |
Net change in unrealized gains/(losses) on available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gains, net of tax |  |  | 1,473,014 |  |  |  | 237,585 |  |  |  | 312,723 |  |  |  | 44,920 |
Reclassification adjustment for gains recorded in net income, net of tax |  |  | (352,274 | ) |  |  | (260,712 | ) |  |  | (258,537 | ) |  |  | (37,137 | )
Net unrealized gains/(losses) on available-for-sale securities |  |  | 1,120,740 |  |  |  | (23,127 | ) |  |  | 54,186 |  |  |  | 7,783 |
Total other comprehensive income |  |  | 298,688 |  |  |  | 2,673,657 |  |  |  | 804,051 |  |  |  | 115,494 |
Total comprehensive income |  |  | 146,431 |  |  |  | 182,024 |  |  |  | 12,988,206 |  |  |  | 1,865,638 |
Condensed Statements of Cash Flows
|  | For the year ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ Note 2(g) |
Net cash provided by/(used in) operating activities |  |  | (105,219 | ) |  |  | (233,195 | ) |  |  | 697,927 |  |  |  | 100,251 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of investment securities |  |  | — |  |  |  | (755 | ) |  |  | — |  |  |  | — |
Cash received from disposal of investment securities |  |  | — |  |  |  | 7,893 |  |  |  | — |  |  |  | — |
Cash received from/(prepayments and investments in) subsidiaries and consolidated VIEs |  |  | 2,359,092 |  |  |  | (12,425,233 | ) |  |  | 5,202,711 |  |  |  | 747,323 |
Prepayments and investments in equity investees |  |  | (7,646 | ) |  |  | — |  |  |  | — |  |  |  | — |
Loans provided to JD Digits |  |  | (31,161 | ) |  |  | (839,617 | ) |  |  | (1,631,530 | ) |  |  | (234,355 | )
Net cash provided by/(used in) investing activities |  |  | 2,320,285 |  |  |  | (13,257,712 | ) |  |  | 3,571,181 |  |  |  | 512,968 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of ordinary shares |  |  | — |  |  |  | 3,531,870 |  |  |  | — |  |  |  | — |
Repurchase of ordinary shares |  |  | — |  |  |  | (205,886 | ) |  |  | (131,010 | ) |  |  | (18,818 | )
Proceeds from long-term borrowings |  |  | — |  |  |  | 2,890,575 |  |  |  | — |  |  |  | — |
Proceeds from settlement of capped call options |  |  | 737,501 |  |  |  | — |  |  |  | — |  |  |  | — |
Proceeds from issuance of ordinary shares pursuant to share-based awards |  |  | 135,745 |  |  |  | 48,555 |  |  |  | 112,153 |  |  |  | 16,110 |
Upfront fee payment for long-term borrowings |  |  | — |  |  |  | (81,581 | ) |  |  | — |  |  |  | — |
Net cash provided by/(used in) financing activities |  |  | 873,246 |  |  |  | 6,183,533 |  |  |  | (18,857 | ) |  |  | (2,708 | )
Effect of exchange rate changes on cash, cash equivalents, and restricted cash |  |  | (240,077 | ) |  |  | 539,361 |  |  |  | 128,592 |  |  |  | 18,470 |
Net increase/(decrease) in cash, cash equivalents, and restricted cash |  |  | 2,848,235 |  |  |  | (6,768,013 | ) |  |  | 4,378,843 |  |  |  | 628,981 |
Cash, cash equivalents, and restricted cash at beginning of the year |  |  | 6,116,574 |  |  |  | 8,964,809 |  |  |  | 2,196,796 |  |  |  | 315,550 |
Cash, cash equivalents, and restricted cash at end of the year |  |  | 8,964,809 |  |  |  | 2,196,796 |  |  |  | 6,575,639 |  |  |  | 944,531 |
Basis of presentation The Company’s accounting policies are the same as the Group’s accounting policies with the exception of the accounting for the investments in subsidiaries and consolidated VIEs. For the Company only condensed financial information, the Company records its investments in subsidiaries and consolidated VIEs under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented in the condensed balance sheets as “Investments in subsidiaries and consolidated VIEs” and shares in the subsidiaries and consolidated VIEs’ financial results are presented as “Share of income/(loss) of subsidiaries and consolidated VIEs” in the condensed statements of operations and comprehensive income/(loss). The parent company only condensed financial information should be read in conjunction with the Group’ consolidated financial statements.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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