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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Dec. 31, 2017
CNY (¥)
Cash flows from operating activities        
Net income $ 531,476 ¥ 3,700,029 ¥ 2,115,697 ¥ 2,508,391
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property and equipment 52,069 362,495 150,991 176,715
Amortization of acquired intangible assets and land use rights 103,099 717,753 69,095 62,419
Amortization of right-of-use assets 14,860 103,451    
Allowance for doubtful accounts 24,350 169,522 54,073 15,106
Loss (gain) on disposal of property and equipment, intangible assets and other long-term assets (66) (460) (799) 17,620
Impairment of investments 8,954 62,334 35,348 43,205
Impairment of property and equipment 768 5,347    
Impairment of intangible assets 440 3,061    
Impairment of goodwill 0 0 0 [1] 2,527 [1]
Share-based compensation 136,193 948,148 648,025 257,661
Share of income in equity method investments, net of income taxes (5,536) (38,540) (58,933) (33,024)
Gain on deemed disposal and disposal of investments 0 0 (16,178) (45,861)
Gain on disposal of subsidiaries and business (11,879) (82,699)   (37,989)
Deferred income taxes, net (24,136) (168,029) 49,646 3,919
Foreign currency exchange (gains) losses, net (1,407) (9,796) 514 2,176
Interest expenses 30,341 211,226    
Investment income (7,259) (50,535) (17,093)  
Gain on fair value changes of investments (384,859) (2,679,312) (1,689,404) 0
Fair value loss on derivative liabilities 2,300 16,011 2,285,223 0
Changes in operating assets and liabilities, net of business acquisition and disposal of subsidiaries        
Accounts receivable (22,600) (157,337) (45,682) 18,383
Interest receivables recorded in financing receivables (1,971) (13,720) (832)  
Prepayments and other assets (43,549) (303,167) (380,834) (48,277)
Amounts due from related parties (2,098) (14,608) 486 155
Inventory 0 0 315 1,434
Lease liabilities (14,547) (101,274)    
Amounts due to related parties 4,314 30,030 (1,896) (18,615)
Accounts payable (3,777) (26,298) 8,699 (39,060)
Deferred revenue 55,279 384,838 227,564 366,634
Advances from customers 6,952 48,401 21,284 24,254
Income taxes payable 13,680 95,235 62,520 5,544
Accrued liabilities and other current liabilities 196,727 1,369,585 946,985 435,135
Net cash provided by operating activities 658,118 4,581,691 4,464,814 3,718,452
Cash flows from investing activities        
Placements of short-term deposits (2,621,877) (18,252,986) (9,512,818) (9,667,447)
Maturities of short-term deposits 1,432,231 9,970,909 8,649,150 7,361,225
Placements of long-term deposits 0 0 (1,000,000)  
Placements of short-term investments (1,243,611) (8,657,771) (3,505,075) (189,550)
Maturities of short-term investments 583,925 4,065,170 2,667,665 65,000
Placement of derivative financial instruments (1,556) (10,832)    
Purchase of property and equipment (141,871) (987,678) (333,994) (397,327)
Purchase of intangible assets and land use right (15,059) (104,838) (58,838) (17,749)
Purchase of other non-current assets (18,961) (132,000)   (82,645)
Prepayments for investments (75) (525) (67,250)  
Cash paid for investments (92,171) (641,675) (2,335,537) (325,647)
Cash received from disposal of investments 23,489 163,526 718,476 86,714
Cash dividend received from an equity investee 0 0 6,125  
Acquisition of businesses, net of cash, cash equivalents and restricted cash acquired (237,979) (1,656,763)   (6,161)
Deconsolidation and disposal of subsidiaries, net of cash disposed 0 0   117,005
Payments on behalf of related parties, net of repayment 1,761 12,261 2,543 23,116
Loans to related parties (24,419) (170,000) (188,000) (24,962)
Repayments of loans from related parties 0 0 20,000 35,462
Loans to employees and third parties (9,049) (62,998) (282,031) (20,550)
Repayments of loans from employees and third parties 20,728 144,306 35,067 4,641
Payments to originate financing receivables (111,956) (779,414) (1,458,012)  
Principal collection from financing receivables 213,903 1,489,148 346,028  
Proceeds from disposal of property and equipment 325 2,260 1,115 1,359
Net cash used in investing activities (2,242,222) (15,609,900) (6,295,386) (3,037,516)
Cash flows from financing activities        
Proceeds from exercise of vested share options 3,295 22,936 7 20
Capital contributions from the non-controlling interests shareholders 0 0 658 64,875
Capital contributions from mezzanine equity holders 14,441 100,536 3,231,261 509,535
Proceeds from issuance of Huya's common shares upon its Initial Public Offering 0 0 1,207,749 0
Proceeds from issuance of Huya's common shares upon its Follow-on Public Offering 303,185 2,110,715 0 0
Acquisition of a subsidiary's shares from mezzanine equity holders 0 0 (30,000) 0
Partial disposal of Huya's interests to non-controlling interest shareholders 107,444 748,005 378,548 0
Purchase of capped call option in relation to repurchase of common shares (11,926) (83,027) 0 0
Proceeds from bank borrowings 222,709 1,550,453 691,612 621,118
Repayment of bank borrowings (145,723) (1,014,496) (1,308,092) 0
Proceeds from issuance of common shares, net of issuance cost 0 0 (4,473) 2,950,607
Repurchase of common shares (24,142) (168,072) 0 0
Proceeds from issuance of convertible bonds, net of issuance costs 891,952 6,209,590 0 0
Repayment of convertible bonds (967) (6,734) 0 (2,753,630)
Net cash provided by financing activities 1,360,268 9,469,906 4,167,270 1,392,525
Net increase/(decrease) in cash, cash equivalents, restricted cash and restricted short-term deposits (223,836) (1,558,303) 2,336,698 2,073,461
Cash, cash equivalents, restricted cash and restricted short-term deposits at the beginning of the year 862,454 6,004,231 3,617,432 1,579,743
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted short-term deposits 15,159 105,536 50,101 (35,772)
Cash, cash equivalents and restricted cash at the end of the year 653,777 4,551,464 6,004,231 3,617,432
Supplemental disclosure of cash flows information:        
-Cash paid for interest, net of amounts capitalized (7,682) (53,479) (9,354) (41,729)
-Income taxes paid (85,132) (592,673) (365,541) (406,348)
Supplemental disclosures of non-cash investing and financing activities:        
-Acquisition of property and equipment 17,151 119,400 64,041 16,865
-Disposal of investments and business 52,699 366,882 77,423 7,986
-Common shares issued for the acquisition of Bigo $ 1,106,671 ¥ 7,704,420 0 0
-Conversion of Huya's preferred shares to ordinary shares     6,290,417 0
-Amounts receivable from issuance of a subsidiary's preferred shares     ¥ 102,951 ¥ 0
[1] Share-based compensation was allocated in cost of revenues and operating expenses as follows