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Income taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income taxes

Schedule of income (loss) by tax jurisdictions

		Year ended December 31,
		2016		2017		2018
		RMB		RMB		RMB
Income from China operations		3,241,171		3,320,283		3,770,270
Loss from non-China operations		(575,087)		(779,430)		(1,023,195)
Total income before tax and share of loss of equity method investees		2,666,084		2,540,853		2,747,075
		Year ended December 31,
		2016		2017		2018
		RMB		RMB		RMB
Income tax expenses applicable to China and Hong Kong operations
Current tax (Note)		689,473		780,013		682,309
Deferred tax		(87,645)		(153,873)		(115,705)
Total tax expenses		601,828		626,140		566,604

Note:

All current tax was related to income tax in PRC and Hong Kong.

Schedule of reconciliation of the income tax expense to income before income tax expense and share of loss of affiliates

		Year ended December 31,
		2016		2017		2018
		RMB		RMB		RMB
Income before income tax expense and share of loss of equity method investees		2,666,084		2,540,853		2,747,075
Computed income tax expense at PRC EIT tax rate		666,521		635,213		686,769
Effect of non-deductible expenses, including:
—Share-based compensation expenses		118,913		166,774		167,803
—Other non-deductible expenses		6,408		67,911		65,497
Effect of different tax rates of subsidiaries operating in other jurisdiction		1,693		8,634		10,454
Effect of tax holidays on concessionary rates granted to PRC subsidiaries		(280,523)		(329,048)		(397,437)
Effect of non-taxable income		(17,419)		(30,075)		(58,053)
Change in valuation allowance		105,387		106,731		91,571
Others		848		—		—
Income tax expenses		601,828		626,140		566,604

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

		Year ended December 31,
		2016		2017		2018
		RMB		RMB		RMB
The aggregate effect		280,523		329,048		397,437
Per share effect:
Class A and Class B ordinary share:
—basic		2.42		2.80		3.00
—diluted		2.23		2.62		2.84

Schedule of the principal components of deferred tax assets

		As of  December 31,
		2017		2018
		RMB		RMB
Deferred tax assets:
Net operating loss carry forwards		287,104		356,293
Allowance for doubtful debts		41,937		44,621
Allowance for other investments		13,980		13,980
Inventory write-down		52,885		126,755
Payroll payable and other accruals		14,963		14,750
Deferred income		131,261		178,910
Others		4,043		6,093
Less: valuation allowance		(261,061)		(352,632)
Total deferred tax assets-non current		285,112		388,770
Deferred tax liability :
Intangible assets		17,007		4,960
Total deferred tax liability-non-current		17,007		4,960

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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.

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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.

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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 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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