XML 78 R60.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Taxation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Taxation |
Schedule of components of income/(loss) before tax | The components of income/(loss) before tax are as follows:
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | (RMB in millions) |
Income/(loss) before tax |  |  |  |  |  |  |  |  |  |  |  |
Income from Chinese mainland operations |  |  | 14,518 |  |  |  | 16,800 |  |  |  | 33,130 |
Loss from non-Chinese mainland operations |  |  | (17,098 | ) |  |  | (2,933 | ) |  |  | (1,480 | )
Total income/(loss) before tax |  |  | (2,580 | ) |  |  | 13,867 |  |  |  | 31,650 |
Income tax benefits/(expenses) applicable to Chinese mainland operations |  |  |  |  |  |  |  |  |  |  |  |
Current income tax expenses |  |  | (2,538 | ) |  |  | (4,418 | ) |  |  | (6,265 | )
Deferred tax benefits |  |  | 651 |  |  |  | 732 |  |  |  | 410 |
Subtotal income tax expenses applicable to Chinese mainland operations |  |  | (1,887 | ) |  |  | (3,686 | ) |  |  | (5,855 | )
Income tax expenses applicable to non-Chinese mainland operations |  |  |  |  |  |  |  |  |  |  |  |
Current income tax expenses |  |  | — |  |  |  | (307 | ) |  |  | (1,259 | )
Deferred tax expenses |  |  | — |  |  |  | (183 | ) |  |  | (1,279 | )
Subtotal income tax expenses applicable to non-Chinese mainland operations |  |  | — |  |  |  | (490 | ) |  |  | (2,538 | )
Total income tax expenses |  |  | (1,887 | ) |  |  | (4,176 | ) |  |  | (8,393 | )
Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate | Reconciliation of difference between the PRC statutory income tax rate and the Group’s effective income tax rate for the years ended December 31, 2021, 2022 and 2023 is as follows:
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Statutory income tax rate |  |  | 25.0 % |  |  |  | 25.0 % |  |  |  | 25.0% |
Tax effect of preferential tax rates and tax holiday |  |  | 86.0 % |  |  |  | (19.3)% |  |  |  | (7.6)% |
Tax effect of tax-exempt entities |  |  | (143.7)% |  |  |  | 12.1 % |  |  |  | 3.3% |
Effect on tax rates in different tax jurisdiction |  |  | (2.3)% |  |  |  | (3.2)% |  |  |  | (0.9)% |
Tax effect of non-deductible expenses |  |  | (13.8)% |  |  |  | 4.0% |  |  |  | 0.1% |
Tax effect of non-taxable income |  |  | 1.4 % |  |  |  | (0.4)% |  |  |  | (0.5)% |
Tax effect of Super Deduction and others |  |  | 105.9 % |  |  |  | (19.0)% |  |  |  | (9.6)% |
Changes in valuation allowance |  |  | (131.6)% |  |  |  | 28.3% |  |  |  | 9.1% |
Effect on withholding income tax |  |  | 0.0 % |  |  |  | 2.6% |  |  |  | 7.6% |
Effective tax rates |  |  | (73.1)% |  |  |  | 30.1% |  |  |  | 26.5% |
Summary of income tax holiday | The following table sets forth the effect of tax holiday:
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Tax holiday effect (RMB in millions) |  |  | 2,219 |  |  |  | 2,677 |  |  |  | 2,397 |
Effect of tax holiday on basic net income per share (RMB) |  |  | 0.71 |  |  |  | 0.86 |  |  |  | 0.76 |
Effect of tax holiday on diluted net income per share (RMB) |  |  | 0.71 |  |  |  | 0.84 |  |  |  | 0.76 |
Schedule of deferred tax assets and deferred tax liabilities |
|  | As of December 31, |
|  | 2022 |  |  | 2023 |
|  | (RMB in millions) |
Deferred tax assets |  |  |  |  |  |  |  |
- Net operating loss carry forwards and others |  |  | 12,715 |  |  |  | 15,909 |
- Deferred revenues |  |  | 472 |  |  |  | 464 |
- Inventory valuation allowance |  |  | 1,029 |  |  |  | 1,092 |
- Allowance for doubtful accounts |  |  | 1,001 |  |  |  | 1,098 |
- Unrealized fair value losses for certain investments |  |  | 595 |  |  |  | 238 |
Less: valuation allowance |  |  | (14,276 | ) |  |  | (17,057 | )
Net deferred tax assets |  |  | 1,536 |  |  |  | 1,744 |
Deferred tax liabilities |  |  |  |  |  |  |  |
- Long-lived assets arisen from business combinations and asset acquisitions |  |  | 5,598 |  |  |  | 6,638 |
- Withholding tax on undistributed earnings |  |  | 183 |  |  |  | 1,779 |
- Accelerated tax depreciation and others |  |  | 730 |  |  |  | 850 |
Total deferred tax liabilities |  |  | 6,511 |  |  |  | 9,267 |
Schedule of movement of valuation allowance | The movements of valuation allowance of deferred tax assets are as follows:
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | (RMB in millions) |
Balance at beginning of the year |  |  | 4,289 |  |  |  | 7,670 |  |  |  | 14,276 |
Additions |  |  | 5,052 |  |  |  | 7,694 |  |  |  | 6,630 |
Reversals |  |  | (1,671 | ) |  |  | (1,088 | ) |  |  | (3,849 | )
Balance at end of the year |  |  | 7,670 |  |  |  | 14,276 |  |  |  | 17,057 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 + Details
Name: | us-gaap_SummaryOfIncomeTaxHolidayTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration