XML 91 R56.htm IDEA: XBRL DOCUMENT v3.23.1

Taxation (Tables)

12 Months Ended

Dec. 31, 2022

Taxation

Schedule of maximum applicable income tax rates of other countries

​

​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,					​
​		2020		2021		2022
United States		29.84	%	29.84	%	29.84	%
United Kingdom		19.00	%	19.00	%	19.00	%
Germany		32.98	%	32.98	%	32.98	%
Norway	​	—	​	22.00	%	22.00	%
Netherlands	​	—	​	25.00	%	25.80	%

​

Schedule of composition of income tax expense

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​		2020		2021		2022
Current income tax expense	​	6,368	​	23,565	​	62,348
Deferred income tax expense	​	—	​	18,700	​	(7,245)
Total		6,368	​	42,265	​	55,103

​

Schedule of reconciliation of the income tax expense

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​		2020		2021		2022
Loss before income tax expense		(5,297,714)	​	(3,974,684)	​	(14,382,001)
Income tax benefit computed at PRC statutory income tax rate of 25%		(1,324,429)	​	(993,671)	​	(3,595,500)
Non-deductible expenses		47,151	​	29,325	​	23,484
Foreign tax rates differential		(81,668)	​	100,690	​	395,543
Additional 100%/75% tax deduction for qualified research and development expenses		(36,775)	​	(546,805)	​	(750,736)
FDII Deduction		—	​	—	​	(10,356)
Tax exempted interest income		—	​	(2,194)	​	(8,847)
Non-taxable offshore income		(523,276)	​	—	​	—
US tax credits	​	(21,633)	​	(30,273)	​	(45,446)
Prior year True-ups		—	​	286,693	​	110,581
Effect of tax rate change	​	—	​	—	​	490,855
Prior year adjustments	​	(4,324)	​	—	​	—
Others	​	1,241	​	(1,206)	​	(5,154)
Change in valuation allowance	​	1,950,081	​	1,199,706	​	3,450,679
Income tax expense		6,368	​	42,265	​	55,103

​

Schedule of deferred tax assets and liabilities

​

​	​	​	​	​	​	​
​	​	As of December 31,
​		2020		2021		2022
Deferred tax assets
Net operating loss carry-forwards		6,831,387	​	7,294,844	​	9,711,744
Accrued and prepaid expenses		534,693	​	1,136,278	​	1,666,519
Deferred revenue	​	251,778	​	559,815	​	940,633
Tax credit carry-forwards		233,326	​	243,198	​	301,437
Property, plant and equipment, net		64,191	​	—	​	—
Unrealized financing income		40,800	​	28,796	​	33,140
Intangible assets	​	36,702	​	85,439	​	89,328
Allowance against receivables	​	9,027	​	19,500	​	27,386
Deferred rent		9,791	​	—	​	29,731
Share-based compensation		6,857	​	10,695	​	6,951
Write-downs of inventory	​	1,162	​	713	​	452
Advertising expenses in excess of deduction limit		507	​	705	​	188
Equity securities with readily determinable fair value	​	—	​	—	​	150
Unrealized foreign exchange loss		(971)	​	—	​	1,704
Others	​	269	​	711	​	4,224
Less: Valuation allowance		(8,019,519)	​	(9,216,725)	​	(12,727,355)
Subtotal	​	—	​	163,969	​	86,232
​	​	​	​	​	​	​
Deferred tax liabilities	​	​	​	​	​	​
Equity securities without readily determinable fair value	​	—	​	(15,975)	​	(6,435)
Equity securities with readily determinable fair value	​	—	​	(2,725)	​	—
Equity method investments	​	—	​	—	​	(5,170)
Available for sale debt investment	​	—	​	(6,499)	​	(206,734)
Property, plant and equipment, net	​	—	​	(143,512)	​	(86,082)
Deferred rent	​	—	​	(18,752)	​	—
Unrealized foreign exchange loss	​	—	​	(1,705)	​	—
Subtotal	​	—	​	(189,168)	​	(304,421)
Total deferred tax liabilities, net		—	​	(25,199)	​	(218,189)

​

Schedule of valuation allowance

​

​	​	​	​	​	​	​
​	​	As of December 31,
​		2020		2021		2022
Valuation allowance
Balance at beginning of the year		6,879,030	​	8,019,519	​	9,216,725
Additions		1,140,489	​	1,199,706	​	3,510,630
Balance at end of the year		8,019,519	​	9,216,725	​	12,727,355

​

Schedule of tax losses expiration dates

​

​	​	​
Loss expiring in 2023		1,213,835
Loss expiring in 2024		2,356,711
Loss expiring in 2025		4,094,099
Loss expiring in 2026		7,191,472
Loss expiring in 2027		9,090,262
Loss expiring in 2028	​	1,606,792
Loss expiring in 2029	​	5,334,423
Loss expiring in 2030	​	—
Loss expiring in 2031	​	—
Loss expiring in 2032	​	7,091,436
Total		37,979,030

​

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 income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ 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 pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32559-109319

+ Details

Name:	us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration