The

Pre-IPO

Series A, A+, B, C, C1/C2 and D1/D2 Preferred Shares are collectively referred to as the

“Pre-IPO

Preferred Shares”. The Group classified the

Pre-IPO

Preferred Shares as mezzanine equity on the consolidated balance sheets, as they were contingently redeemable at the options of the holders, and recorded accretion on the

Pre-IPO

Preferred Shares to the redemption value from the issuance dates to the earliest redemption dates. Upon the completion of the Company’s IPO, all of the issued and outstanding

Pre-IPO

Preferred Shares were redesignated into Class Y Ordinary Shares and Class Z Ordinary Shares, respectively. See Note 14 for additional information.

The Group’s

Pre-IPO

Preferred Shares activities for the year ended December 31, 2018 are summarized below:


	Pre-IPO Series A Preferred Shares						Pre-IPO Series A+ Preferred Shares						Pre-IPO Series B Preferred Shares						Pre-IPO Series C Preferred Shares						Pre-IPO Series C1 Preferred Shares						Pre-IPO Series C2 Preferred Shares						Pre-IPO Series D1 Preferred Shares						Pre-IPO Series D2 Preferred Shares						Total Mezzanine Equity
	Number of shares			Amount			Number of shares			Amount			Number of shares			Amount			Number of shares			Amount			Number of shares			Amount			Number of shares			Amount			Number of shares			Amount			Number of shares			Amount			Number of shares			Amount
	RMB in thousands, except for share data
Balance as of December 31, 2017		7,078,502			16,625			14,643,281			85,681			22,794,876			325,559			27,996,184			797,355			42,585,304			1,442,351			954,605			36,763			13,101,189			586,385			13,759,564			724,324			142,913,505			4,015,043
Accretion to Pre-IPO Preferred Shares redemption value		—			242			—			1,448			—			5,328			—			13,633			—			23,024			—			578			—			9,124			—			11,228			—			64,605
Redesignation of Pre-IPO Preferred Shares into Class Y Ordinary Shares		—			—			—			—			—			—			—			—			(1,104,535	)		(38,007	)		—			—			—			—			—			—			(1,104,535	)		(38,007	)
Redesignation of Pre-IPO Preferred Shares into Class Z Ordinary Shares		(7,078,502	)		(16,867	)		(14,643,281	)		(87,129	)		(22,794,876	)		(330,887	)		(27,996,184	)		(810,988	)		(41,480,769	)		(1,427,368	)		(954,605	)		(37,341	)		(13,101,189	)		(595,509	)		(13,759,564	)		(735,552	)		(141,808,970	)		(4,041,641	)

Balance as of December 31, 2018		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—