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Business combination and disposal of subsidiaries and businesses (Tables)

12 Months Ended

Dec. 31, 2019

Business combination and disposal of subsidiaries and businesses

Summary of components of the purchase consideration transferred

​

​	​	​
​		As of acquisition date
​		RMB
​	​	​
Cash		2,300,196
Fair value of common shares issued		7,704,420
Fair value of previously held equity interest in Bigo		5,697,154
Elimination of preexisting amounts due from Bigo		323,002
Total consideration		16,024,772

Summary of fair value of the assets acquired and liabilities assumed allocated on the acquisition date

​

​	​	​	​	​
​		As of acquisition date		Amortization period
​		RMB	​	​
​	​	​	​	​
Net tangible assets acquired:	​	​	​	​
-Cash and cash equivalents, restricted cash and cash equivalents and restricted short-term deposits		643,433	​	​
-Accounts receivables		386,517
-Other current assets		52,432
-Property and equipment, net		294,030
-Other non-current assets		174,837
Identifiable intangible assets acquired:
-Trademark		2,400,354		10 years
-User Base		1,027,191		3 years
-Non-compete agreement		81,129		1 year
-Others		6,195
Accrued liabilities and other liabilities		(1,156,854)
Deferred tax liabilities		(316,859)
Goodwill		12,432,367
Total		16,024,772

Summary of pro forma information

​

​	​	​	​	​
​		For the year ended December 31,
​		2018		2019
​		RMB		RMB
​	​	​	​	​
Pro forma net revenues		18,786,008		26,237,534
Pro forma net (loss) income		(153,302)		805,905

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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