Related party transactions (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022:


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
Property Funds		Investees of the Group
ATRenew and its subsidiaries (“ATRenew Group”)		An investee of the Group

(*)

March 2022, Tencent completed a distribution of approximately

460

million Class A ordinary shares of the Company owned by Tencent to its shareholders. As of March 31, 2022, Tencent’s shareholding in the Company was approximately 2.3% and Tencent had no significant influence over the Company. As a result, Tencent Group was not considered

the Group’s related party since then.

(**)	Dada became the subsidiary of the Company since February 28, 2022 as disclosed in Note 7. As a result, Dada Group was not considered as the Group’s related party since then.

(***)

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,
	2020		2021		2022

	(RMB in millions)
Revenues:
Commission from cooperation on advertising business with Tencent Group(*)		355		248		44
Services provided and products sold to Tencent Group(*)		375		553		77
Services provided and products sold to Dada Group		179		523		135
Services provided and products sold to ATRenew Group		664		894		806
Services provided and products sold to JD Technology		598		882		1,044
Operating expenses:
Services received and purchases from Tencent Group(*)		3,226		5,010		1,314
Services received from Dada Group		2,200		1,087		212
Payment processing and other services received from JD Technology		6,945		8,762		11,494
Lease and property management services received from Property Funds		838		1,180		1,249
Services received from ATRenew Group		32		31		4
Other income:
Income from non-compete agreement with Dada Group		82		77		13
Interest income from loans provided to JD Technology		31		253		301
Interest income from loans provided to Property Funds		49		39		43

(*)	Please refer to Note 23 for more details of strategic cooperation with Tencent Group.

Schedule of the major related party balances

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


	As of December 31,
	2021			2022

	(RMB in millions)

Due from Tencent Group		1,956			—
Due from JD Technology
Loans provided to JD Technology (*)		2,876			3,378
Other payables to JD Technology		(416	)		(637	)
Due from Property Funds
Loans provided to Property Funds (*)		769			1,746
Other receivables from Property Funds		87			1,068
Due from ATRenew Group		—			22

Total		5,272			5,577

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

Total		(382	)		—

Deferred revenues in relation to traffic support, marketing and promotion services to be provided to Dada Group		(83	)		—
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to ATRenew Group		(1,038	)		(610	)

Total		(1,121	)		(610	)

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

Total		(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.