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Taxation (Tables)
12 Months Ended
Dec. 31, 2022
Taxation Abstract  
Schedule of income tax provision
   For the years ended December 31, 
   2020   2021   2022 
   RMB   RMB   RMB   US$ 
Current income tax expenses   2,637,319    839,107    2,465,462    353,999 
Deferred income tax (benefits)/expenses   (1,002,390)   864,072    116,755    16,764 
Total income tax expenses   1,634,929    1,703,179    2,582,217    370,763 

 

Schedule of income / (loss) before provision for income taxes
  

For the years ended December 31,

 
   2020   2021   2022 
   RMB   RMB   RMB   US$ 
Income / (loss) before provision for income taxes is attributable to the following geographic locations:                
PRC   4,728,447    12,016,517    8,630,868    1,239,248 
Foreign   (46,390)   (89,670)   (4,670,754)   (670,642)
Total Income before Income Taxes   4,682,057    11,926,847    3,960,114    568,606 

 

Schedule of reconciliation between the provision for income taxes
   For the years ended December 31, 
   2020    2021      2022   
             
PRC statutory income tax rate   25.0%   25.0%   25.0%
Impact of different tax rates in other jurisdictions   0.0%   0.0%   22.3%
Effect of preferential tax rate   (2.3)%   (6.4)%   53.3%
Non-deductible (Non-taxable) items   1.5%   0.9%   0.9%
Effect of additional R&D deduction   0.0%   0.0%   (9.0)%
Tax effect on deferred offering costs   0.0%   (1.9)%   (32.3)%
Change in valuation allowance   10.7%   (3.3)%   5.0%
Effective tax rate   34.9%   14.3%   65.2%

 

Schedule of deferred tax assets and deferred tax liability
   As of 
  

December 31,

2021

  

December 31,

2022

 
   RMB   RMB   US$ 
Deferred tax assets:            
Net operating loss carried forward   1,724,529    1,750,257    251,308 
Bad debt provision   39,337    96,568    13,866 
Less: Valuation allowance   (1,625,548)   (1,825,262)   (262,078)
Deferred tax assets, net of valuation allowance   138,318    21,563    3,096 

 

Schedule of net operating loss carry forward
For the fiscal years ended December 31,  Amounts 
2023   1,624,913 
2024   2,206,569 
2025   3,216,362 
2026   395,107 
2027   12,468,752 
    19,911,703 

 

Schedule of taxes payable
   As of 
  

December 31,

2021

  

December 31,

2022

 
   RMB   RMB   US$ 
Income tax payable   1,820,229    1,768,285    253,896 
VAT and other taxes payable   525,685    362,148    51,998 
Total taxes payable   2,345,914    2,130,433    305,894