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v3.25.1

Property, equipment and software, net | 12 Months Ended
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Dec. 31, 2024
Property, equipment and software, net |
Property, equipment and software, net |
9. | Property, equipment and software, net
Property, equipment and software, net consist of the following:
|  | As of December 31, |
|  | 2023 |  |  | 2024 |
|  | (RMB in millions) |
Land, building and building improvement |  |  | 56,445 |  |  |  | 70,977 |
Logistics, warehouse and other heavy equipment |  |  | 16,653 |  |  |  | 18,061 |
Vehicles |  |  | 7,268 |  |  |  | 8,981 |
Leasehold improvement |  |  | 5,117 |  |  |  | 5,895 |
Electronic equipment |  |  | 2,644 |  |  |  | 2,947 |
Software |  |  | 1,049 |  |  |  | 1,072 |
Office equipment |  |  | 696 |  |  |  | 757 |
Total |  |  | 89,872 |  |  |  | 108,690 |
Less: accumulated depreciation and impairment |  |  | (19,837 | ) |  |  | (25,953 | )
Net carrying amount |  |  | 70,035 |  |  |  | 82,737 |
Depreciation expenses were RMB5,295 million, RMB6,088 million and RMB6,958 million for the years ended December 31, 2022, 2023 and 2024, respectively. No material impairment loss was recorded for the year ended December 31, 2022. For the year s ended December 31, 2023 and 2024, the Group recorded impairment loss es of RMB819 million and RMB716 million , respectively .

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