Related party transactions (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of the major related parties and their relationships with the Group

The table below sets forth the major related parties and their relationships with the Group as of December 31, 2021:


Name of related parties		Relationship with the Group
Tencent and its subsidiaries (“Tencent Group”)		A shareholder of the Group
Dada and its subsidiaries (“Dada Group”)		An investee of the Group
JD Technology (*)		An investee of the Group, and controlled by the Founder
Core Fund, Core Fund II, Development Fund I and Acquisition Fund I (“Property Funds”)		Investees of the Group
ATRenew and its subsidiaries (“ATRenew Group”)		An investee of the Group

(*)	JD Technology became an investee of the Group since June 2020 (Note 6).

Schedule of the major related party transactions

(a) The Group entered into the following transactions with the major related parties:


Transactions	For the year ended December 31,
	2019		2020		2021

	(RMB in millions)
Revenues:
Commission from cooperation on advertising business with Tencent Group(**)		288		355		248
Services provided and products sold to Tencent Group(**)		399		375		553
Services provided and products sold to Dada Group		133		179		523
Services provided and products sold to ATRenew Group		349		664		894
Services provided and products sold to JD Technology		342		598		882
Operating expenses:
Services received and purchases from Tencent Group(**)		2,222		3,226		5,010
Services received from Dada Group		1,565		2,200		1,087
Payment processing and other services received from JD Technology		4,981		6,945		8,762
Lease and property management services received from Property Funds		476		838		1,180
Services received from ATRenew Group		10		32		31
Other income:
Income from non-compete agreement with Dada Group		82		82		77
Interest income from loans provided to JD Technology		41		31		253
Interest income from loans provided to Property Funds		75		49		39

(**)

In March 2014, the Group entered into a series of agreements with Tencent and its affiliates pursuant to which the Group acquired 100% interests in Tencent’s Paipai and QQ Wanggou online marketplace businesses, a 9.9% stake in Shanghai Icson E-Commerce Development Company Limited, logistics personnel and certain other assets. The Group also entered into a five-year strategic cooperation agreement and an eight-year

non-compete

agreement with Tencent. In April 2016, the Group acquired the remaining equity interest in Shanghai Icson E-Commerce Development Company Limited by exercising the rights previously granted to the Group in March 2014.

Schedule of the major related party balances

(b) The Group had the following balances with the major related parties:


	As of December 31,
	2020			2021
	(RMB in millions)
Due from Tencent Group		791			1,956
Due from JD Technology
Loans provided to JD Technology (***)		2,707			2,876
Other receivables from/(payables) to JD Technology		1,359			(416	)
Due from Property Funds
Loans provided to Property Funds (***)		1,045			769
Other receivables from Property Funds		615			87
Due from ATRenew Group		5			—

Total		6,522			5,272

Due to Dada Group		(498	)		(337	)
Due to ATRenew Group		—			(45	)

Total		(498	)		(382	)

Deferred revenues in relation to traffic support, marketing and promotion services to be provided to Dada Group		(145	)		(83	)
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to ATRenew Group		(1,468	)		(1,038	)

Total		(1,613	)		(1,121	)

Other liabilities in relation to non-compete obligation to Dada Group		(181	)		(101	)

Total		(181	)		(101	)

(***)

In relation to the loans provided to JD Technology and Property Funds, the Group charged JD Technology and Property Funds based on fair market interest rate, and cash flows resulted from the loans were presented within investing activities in the consolidated statements of cash flows.