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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Summary of income (loss) before income taxes

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
PRC including Hong Kong and Taiwan		1,583		2,334		(392)
Germany		—		—		(1,606)
Other		(190)		231		(281)
Total		1,393		2,565		(2,279)

Schedule of tax expense (benefit)

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
Current Tax		660		678		338
Deferred Tax		(91)		(38)		(553)
Total		569		640		(215)

Schedule of a reconciliation between the effective income tax rate and PRC statutory income tax rate

​

​	​	​	​	​	​	​	​
​	​	Years Ended December 31,					​
​		2018		2019		2020	​
PRC statutory tax rate		25	%	25	%	25	%
Tax effect of non-deductible expenses and non-taxable income in determining taxable profit		15	%	(3)	%	(6)	%
Effect of different tax rate of group entities operating in other jurisdictions		4	%	1	%	(2)	%
Effect of change in valuation allowance		(1)	%	2	%	(10)	%
Effect of tax holiday		(3)	%	(2)	%	1	%
Effect of cash dividends		5	%	4	%	0	%
Effect of disposal of subsidiary		1	%	—	​	—	​
Effect of excess tax benefit of rewards		(5)	%	(2)	%	1	%
Effective tax rate		41	%	25	%	9	%

Schedule of the aggregate amount and per share effect of the tax holidays

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
Aggregate amount		31		45		31
Per share effect—basic		0.11		0.16		0.11
Per share effect—diluted		0.10		0.15		0.11

Schedule of the principal components of the Group's deferred income tax assets and liabilities

​

​	​	​	​	​
​	​	As of December 31,
​		2019	​	2020
Deferred tax assets:
Net loss carryforward		243		888
Deferred revenue		260		283
Long-term assets		125		388
Bad debt provision		7		18
Accrued payroll		23		69
Other accrued expenses		19		3
Share-based compensation		23		31
Others		0		12
Valuation allowance		(152)		(369)
Total deferred tax assets, net of valuation allowance		548		1,323
Deferred tax liabilities:				​
Fair value adjustment for Building, land use rights and identified intangible assets due to acquisition		449		1,782
Others		42		99
Total deferred tax liabilities	​	491		1,881
Net deferred tax assets (liabilities)	​	57	​	(558)
Analysis as:	​	​	​	​
Deferred tax assets	​	548	​	623
Deferred tax liabilities	​	491	​	1,181
Net deferred tax assets (liabilities)		57	​	(558)

Summary of movement of the valuation allowance

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​	​	2018	​	2019	​	2020
Balance at the beginning of the year		(123)		(107)		(152)
Provided		(36)		(79)		(249)
Reversed		43		24		32
Written off		9		10		—
Balance at the end of the year		(107)		(152)		(369)

Schedule of unrecognized tax benefits

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2018		2019		2020
Balance at January 1		26		14		18
Addition for tax positions		(12)		4		32
Balance at December 31		14		18		50

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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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.

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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.

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