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Parent company only condensed financial information (Tables)
 12 Months Ended
Dec. 31, 2022
Parent company only condensed financial information  
Condensed Balance Sheets
Condensed Balance Sheets
 
 
  
As of December 31,
 
 
  
2021
 
 
2022
 
 
  
RMB
 
 
RMB
 
 
US$
Note 2(g)
 
 
  
(in millions, except share and per share data)
 
ASSETS
  
 
 
Cash and cash equivalents
  
 
7,417
 
 
 
5,029
 
 
 
729
 
Short-term investments
 
 
1
 
 
 
—
 
 
 
—
 
Internal balance
  
 
65,120
 
 
 
63,708
 
 
 
9,237
 
Investments in subsidiaries and consolidated VIEs
  
 
148,607
 
 
 
162,015
 
 
 
23,491
 
Prepayments and other assets
  
 
419
 
 
 
308
 
 
 
44
 
  
 
 
 
 
 
 
 
 
 
 
 
Total assets
  
 
221,564
 
 
 
231,060
 
 
 
33,501
 
  
 
 
    
 
 
    
 
 
  
LIABILITIES
  
 
 
Short-term debts
  
 
2,869
 
 
 
—  
 
 
 
—  
 
Unsecured senior notes
  
 
9,461
 
 
 
10,347
 
 
 
1,499
 
Long-term borrowings
  
 
—  
 
 
 
6,965
 
 
 
1,010
 
Accrued expenses and other liabilities
  
 
323
 
 
 
382
 
 
 
56
 
  
 
 
 
 
 
 
 
 
 
 
 
Total liabilities
  
 
12,653
 
 
 
17,694
 
 
 
2,565
 
  
 
 
 
 
 
 
 
 
 
 
 
SHAREHOLDERS’ EQUITY:
  
 
 
Ordinary shares (US$0.00002 par value; 100,000,000,000 shares authorized; 2,731,123,330 Class A ordinary shares issued and 2,690,342,230 outstanding, 428,185,501 Class B ordinary shares issued and 420,449,419 outstanding as of December 31, 2021; 2,793,298,344 Class A ordinary shares issued and 2,756,458,772 outstanding, 386,374,723 Class B ordinary shares issued and 379,220,475 outstanding as of December 31, 2022.)
  
 
—  
* 
 
 
—  
* 
 
 
—  
* 
Additional
paid-in
capital
  
 
182,578
 
 
 
184,041
 
 
 
26,683
 
Statutory reserves
  
 
1,586
 
 
 
3,473
 
 
 
504
 
Treasury stock
  
 
(2,968
) 
 
 
(2,493
) 
 
 
(361
) 
Retained earnings
  
 
33,805
 
 
 
29,304
 
 
 
4,249
 
Accumulated other comprehensive loss
  
 
(6,090
) 
 
 
(959
) 
 
 
(139
) 
  
 
 
 
 
 
 
 
 
 
 
 
Total shareholders’ equity
  
 
208,911
 
 
 
213,366
 
 
 
30,936
 
  
 
 
 
 
 
 
 
 
 
 
 
Total liabilities and shareholders’ equity
  
 
221,564
 
 
 
231,060
 
 
 
33,501
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Absolute value is less than RMB1 million.
Condensed Statements of Operations and Comprehensive Income
Condensed Statements of Operations and Comprehensive Income/(Loss)
 
 
  
For the year ended December 31,
 
 
  
2020
 
 
2021
 
 
2022
 
 
  
RMB
 
 
RMB
 
 
RMB
 
 
US$
 
 
  
 
 
 
 
 
 
 
 
 
Note 2(g)
 
 
  
(in millions, except share and per share data)
 
Operating expenses
  
 
 
 
Marketing
  
 
(11
) 
 
 
(4
) 
 
 
(2
) 
 
 
—  
 
General and administrative
  
 
(453
) 
 
 
(465
) 
 
 
(331
) 
 
 
(48
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss from operations
  
 
(464
) 
 
 
(469
) 
 
 
(333
) 
 
 
(48
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income/(expense)
  
 
 
 
Income/(loss) from subsidiaries and consolidated VIEs
  
 
50,154
 
 
 
(2,708
) 
 
 
10,667
 
 
 
1,548
 
Other income/(expense), net
  
 
(266
) 
 
 
(376
) 
 
 
48
 
 
 
7
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income/(loss) before tax
  
 
49,424
 
 
 
(3,553
) 
 
 
10,382
 
 
 
1,507
 
Income tax expenses
  
 
(19
) 
 
 
(7
) 
 
 
(2
) 
 
 
—  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss)
  
 
49,405
 
 
 
(3,560
) 
 
 
10,380
 
 
 
1,507
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss) attributable to ordinary shareholders
  
 
49,405
 
 
 
(3,560
) 
 
 
10,380
 
 
 
1,507
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss)
  
 
 
 
Other comprehensive income/(loss):
  
 
 
 
Foreign currency translation adjustments
  
 
(7,656
) 
 
 
(2,542
) 
 
 
5,131
 
 
 
744
 
Net change in unrealized gains/(losses) on
available-for-sale
securities:
  
 
                    
 
Unrealized gains, net of tax
  
 
705
 
 
 
—  
 
 
 
—  
 
 
 
—  
 
Reclassification adjustment for gains recorded in net income, net of tax
  
 
(760
) 
 
 
—  
 
 
 
—  
 
 
 
—  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized losses on
available-for-sale
securities
  
 
(55
) 
 
 
—  
 
 
 
—  
 
 
 
—  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total other comprehensive income/(loss)
  
 
(7,711
) 
 
 
(2,542
) 
 
 
5,131
 
 
 
744
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total comprehensive income/(loss)
  
 
41,694
 
 
 
(6,102
) 
 
 
15,511
 
 
 
2,251
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
 
 
  
For the year ended December 31,
 
 
  
2020
 
 
2021
 
 
2022
 
 
  
RMB
 
 
RMB
 
 
RMB
 
 
US$
 
 
  
 
 
 
 
 
 
 
 
 
Note 2(g)
 
 
  
(in millions)
 
Net cash used in operating activities
  
 
(243
) 
 
 
(411
) 
 
 
(509
 )
 
 
 
(74
 )
 
Cash flows from investing activities:
  
 
 
 
Purchase of short-term investments
  
 
(3,421
) 
 
 
(3,189
) 
 
 
—  
 
 
 
—  
 
Maturity of short-term investments
  
 
—  
 
 
 
6,546
 
 
 
1
 
 
 
—  
 
Loans (provided to)/settled by internal companies
  
 
(13,421
) 
 
 
(20,900
) 
 
 
7,426
 
 
 
1,077
 
Other investing activities
  
 
40
 
 
 
3,147
 
 
 
—  
 
 
 
—  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by/(used in) investing activities
  
 
(16,802
) 
 
 
(14,396
) 
 
 
7,427
 
 
 
1,077
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
  
 
 
 
Proceeds from issuance of ordinary shares
  
 
31,342
 
 
 
—  
 
 
 
—  
 
 
 
—  
 
Repurchase of ordinary shares
  
 
—  
 
 
 
—  
 
 
 
(1,823
) 
 
 
(264
) 
Cash paid for dividends
  
 
—  
 
 
 
—  
 
 
 
(13,087
 )
 
 
 
(1,897
 )
 
Proceeds from short-term borrowings
  
 
—  
 
 
 
—  
 
 
 
3,945
 
 
 
572
 
Repayment of short-term borrowings
  
 
—  
 
 
 
—  
 
 
 
(7,005
) 
 
 
(1,016
) 
Proceeds from long-term borrowings
  
 
—  
 
 
 
—  
 
 
 
6,618
 
 
 
960
 
Proceeds from unsecured senior notes
  
 
6,804
 
 
 
—  
 
 
 
—  
 
 
 
—  
 
Repayment of unsecured senior notes
  
 
—  
 
 
 
(3,246
) 
 
 
—  
 
 
 
—  
 
Other financing activities
  
 
236
 
 
 
62
 
 
 
1,043
 
 
 
151
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by/(used in) financing activities
  
 
38,382
 
 
 
(3,184
) 
 
 
(10,309
 )
 
 
 
(1,494
 )
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
  
 
(2,369
) 
 
 
(136
) 
 
 
1,003
 
 
 
145
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase/(decrease) in cash, cash equivalents, and restricted cash
  
 
18,968
 
 
 
(18,127
) 
 
 
(2,388
) 
 
 
(346
) 
Cash, cash equivalents, and restricted cash at beginning of year
  
 
6,576
 
 
 
25,544
 
 
 
7,417
 
 
 
1,075
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash, cash equivalents, and restricted cash at end of year
  
 
25,544
 
 
 
7,417
 
 
 
5,029
 
 
 
729