XML 69 R41.htm IDEA: XBRL DOCUMENT
v3.23.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Taxes |
Schedule of (loss) income before income taxes | (Loss) income before income taxes consists of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | (Amount in Thousands)
​ |  | 2020 |  | 2021 |  | 2022 |  | 2022
​ | ​ | RMB | ​ | RMB | ​ | RMB | ​ | US$
Mainland China |  | 846,584 |  | 686,188 |  | 588,048 |  | 85,259
Hong Kong |  | 345,758 |  | 584,236 |  | 389,517 |  | 56,475
Cayman Islands | ​ | (1,811,849) | ​ | (66,140) | ​ | 39,463 | ​ | 5,721
Others | ​ | 34,188 | ​ | 93,758 | ​ | 132,521 | ​ | 19,212
Total |  | (585,319) |  | 1,298,042 |  | 1,149,549 |  | 166,667
​
Schedule of tax expense | The tax expense comprises: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ | ​ | (Amount in Thousands)
​ |  | 2020 |  | 2021 |  | 2022 |  | 2022
​ | ​ | RMB | ​ | RMB | ​ | RMB | ​ | US$
Current Tax | ​ | 324,620 | ​ | 413,603 | ​ | 354,108 | ​ | 51,341
Deferred Tax | ​ | (66,160) | ​ | (119,663) | ​ | (87,000) | ​ | (12,614)
Total | ​ | 258,460 | ​ | 293,940 | ​ | 267,108 | ​ | 38,727
​
Schedule of reconciliation between the statutory tax rate to (loss) income before income taxes and the actual provision for income taxes | Reconciliation between the statutory tax rate to (loss) income before income taxes and the actual provision for income taxes is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Years Ended December 31, |
​ |  | 2020 |  | 2021 |  | 2022 |
PRC income tax rate | ​ | 25.00 | % | 25.00 | % | 25.00 | %
Expenses not deductible for tax purposes | ​ | (0.33) | % | 0.18 | % | (0.07) | %
Effect of non-deductible settlement expenses | ​ | (78.12) | % | 0.40 | % | — | ​
Effect of tax-free investment income | ​ | 1.47 | % | (0.57) | % | (0.72) | %
Effect of different tax rate of subsidiary in other jurisdiction | ​ | 6.44 | % | (4.85) | % | (6.61) | %
Effect of deferred tax asset allowance | ​ | (4.13) | % | 1.56 | % | 7.22 | %
Effect of tax holidays | ​ | 2.01 | % | (1.27) | % | (0.92) | %
Effect of income from equity in fund of fund | ​ | 0.16 | % | 2.91 | % | 1.21 | %
Effect of dividend withholding tax | ​ | — | ​ | — | ​ | 1.74 | %
Effect of true-ups | ​ | 3.28 | % | (0.82) | % | (3.36) | %
Effect of others | ​ | 0.06 | % | 0.10 | % | (0.25) | %
​ | ​ | (44.16) | % | 22.64 | % | 23.24 | %
​
Schedule of aggregate amount and per share effect of the tax holidays | The aggregate amount and per share effect of the tax holidays (including effect of timing difference reversed in the year with different rate) are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ | ​ | (Amount in Thousands Except Shares Data)
​ |  | 2020 |  | 2021 |  | 2022 |  | 2022
​ | ​ | RMB | ​ | RMB | ​ | RMB | ​ | US$
Aggregate | ​ | 11,753 | ​ | 16,422 | ​ | 10,594 | ​ | 1,536
Per share effect-basic | ​ | 0.38 | ​ | 0.49 | ​ | 0.31 | ​ | 0.04
Per share effect-diluted | ​ | 0.38 | ​ | 0.49 | ​ | 0.31 | ​ | 0.04
​
Schedule of principal components of the deferred income tax asset and liabilities | The principal components of the deferred income tax asset and liabilities are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31,
​ | ​ | (Amount in Thousands)
​ |  | 2021 |  | 2022 |  | 2022
​ | ​ | RMB | ​ | RMB | ​ | US$
Deferred tax assets: | ​ |  | ​ |  | ​ |
Accrued expenses and payroll | ​ | 26,271 | ​ | 159,817 | ​ | 23,171
Tax loss carry forward | ​ | 489,179 | ​ | 491,311 | ​ | 71,233
Unrealized other loss | ​ | 4,895 | ​ | 5,876 | ​ | 852
Provision for impairment of investments | ​ | 39,300 | ​ | 39,300 | ​ | 5,698
Provision for allowance of credit losses | ​ | 45,750 | ​ | 42,050 | ​ | 6,097
Provision for contingent liability | ​ | — | ​ | 24,750 | ​ | 3,588
Others | ​ | 2,323 | ​ | 6,804 | ​ | 986
Gross deferred tax assets | ​ | 607,718 | ​ | 769,908 | ​ | 111,625
Valuation allowance | ​ | (271,813) | ​ | (333,467) | ​ | (48,347)
Net deferred tax assets | ​ | 335,905 | ​ | 436,441 | ​ | 63,278
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Unrealized investment income | ​ | 42,276 | ​ | 44,414 | ​ | 6,439
Dividend withholding tax | ​ | — | ​ | 20,000 | ​ | 2,900
Acquired deferred tax liabilities (Note 7) | ​ | 191,858 | ​ | 185,354 | ​ | 26,874
Net deferred tax liabilities (after offsetting) | ​ | 234,134 | ​ | 249,768 | ​ | 36,213
​
Schedule of movements of valuation allowance of deferred tax assets | A valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. The movements of valuation allowance of deferred tax assets are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2022
​ |  | RMB |  | RMB |  | RMB
​ | ​ | (Amount in Thousands)
Balance at beginning of the year |  | 56,653 |  | 60,628 |  | 271,813
Provided |  | 24,196 |  | 20,275 |  | 94,856
Addition due to acquisition | ​ | — | ​ | 193,826 | ​ | —
Write off |  | (20,221) |  | (2,916) |  | (9,472)
Reverse | ​ | — | ​ | — | ​ | (23,730)
Balance at ending of the year |  | 60,628 |  | 271,813 |  | 333,467
​

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 + Details
Name: | us-gaap_SummaryOfIncomeTaxHolidayTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration