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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2021
Taxation |
Schedule of components of income/(loss) before tax |
|  | For the year ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
|  | (RMB in millions) |
Income/(loss) before tax |  |  |  |  |  |  |  |  |  |  |  |
Income from China operations |  |  | 14,177 |  |  |  | 15,803 |  |  |  | 14,518 |
Income/(loss) from non-China operations |  |  | (484 | ) |  |  | 35,016 |  |  |  | (17,098 | )
Total income/(loss) before tax |  |  | 13,693 |  |  |  | 50,819 |  |  |  | (2,580 | )
Income tax benefits/(expenses) applicable to China operations |  |  |  |  |  |  |  |  |  |  |  |
Current income tax expenses |  |  | (1,270 | ) |  |  | (2,201 | ) |  |  | (2,538 | )
Deferred tax benefits/(expenses) |  |  | (533 | ) |  |  | 719 |  |  |  | 651 |
Subtotal income tax expenses applicable to China operations |  |  | (1,803 | ) |  |  | (1,482 | ) |  |  | (1,887 | )
Total income tax expenses |  |  | (1,803 | ) |  |  | (1,482 | ) |  |  | (1,887 | )
Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate |
|  | For the year ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
Statutory income tax rate |  |  | 25.0% |  |  |  | 25.0% |  |  |  | 25.0% |
Tax effect of preferential tax rates and tax holiday |  |  | (8.1)% |  |  |  | (2.3)% |  |  |  | 86.0% |
Tax effect of tax-exempt entities |  |  | 3.7% |  |  |  | (16.8)% |  |  |  | (143.7)% |
Effect on tax rates in different tax jurisdiction |  |  | (3.9)% |  |  |  | (0.5)% |  |  |  | (2.3)% |
Tax effect of non-deductible expenses |  |  | 5.7% |  |  |  | 0.5% |  |  |  | (13.8)% |
Tax effect of non-taxable income |  |  | (1.0)% |  |  |  | 0.0% |  |  |  | 1.4% |
Tax effect of Super Deduction and others |  |  | (13.2)% |  |  |  | (4.2)% |  |  |  | 105.9% |
Changes in valuation allowance |  |  | 5.0% |  |  |  | 1.2% |  |  |  | (131.6)% |
Effective tax rates |  |  | 13.2% |  |  |  | 2.9% |  |  |  | (73.1)% |
Summary of income tax holiday |
|  | For the year ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
Tax holiday effect (RMB in millions) |  |  | 1,116 |  |  |  | 1,153 |  |  |  | 2,219 |
Effect of tax holiday on basic net income per share (RMB) |  |  | 0.38 |  |  |  | 0.38 |  |  |  | 0.71 |
Effect of tax holiday on diluted net income per share (RMB) |  |  | 0.38 |  |  |  | 0.37 |  |  |  | 0.71 |
Schedule of deferred tax assets and deferred tax liabilities |
|  | As of December 31, |
|  | 2020 |  |  | 2021 |
|  | (RMB in millions) |
Deferred tax assets |  |  |  |  |  |  |  |
- Net operating loss carry forwards and others |  |  | 3,145 |  |  |  | 6,303 |
- Deferred revenues |  |  | 208 |  |  |  | 553 |
- Inventory valuation allowance |  |  | 498 |  |  |  | 575 |
- Allowance for doubtful accounts |  |  | 382 |  |  |  | 603 |
- Unrealized fair value losses for certain investments |  |  | 589 |  |  |  | 747 |
Less: valuation allowance |  |  | (4,289 | ) |  |  | (7,670 | )
Net deferred tax assets |  |  | 533 |  |  |  | 1,111 |
Deferred tax liabilities |  |  |  |  |  |  |  |
- Intangible assets arisen from business combination |  |  | 1,560 |  |  |  | 1,454 |
- Accelerated tax depreciation and others |  |  | 362 |  |  |  | 443 |
Total deferred tax liabilities |  |  | 1,922 |  |  |  | 1,897 |
Schedule of movement of valuation allowance |
|  | For the year ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
|  | (RMB in millions) |
Balance at beginning of the year |  |  | 2,996 |  |  |  | 3,674 |  |  |  | 4,289 |
Additions |  |  | 7,635 |  |  |  | 4,393 |  |  |  | 5,052 |
Reversals |  |  | (6,957 | ) |  |  | (3,778 | ) |  |  | (1,671 | )
Balance at end of the year |  |  | 3,674 |  |  |  | 4,289 |  |  |  | 7,670 |

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