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FAIR VALUE MEASUREMENT (Tables)
12 Months Ended
Dec. 31, 2019
FAIR VALUE MEASUREMENT  
Summary of assets that are measured at fair value on a recurring basis

As of December 31, 2019

    

Level 1

    

Level 2

    

Level 3

    

Total

 

RMB

 

RMB

 

RMB

 

RMB

Short-term investments in time deposits

 

7,095,686

 

 

 

7,095,686

Short-term investments in investment products

550,000

550,000

Listed equity securities

 

159,148

 

 

 

159,148

Available-for-sale debt securities

 

 

 

448,776

 

448,776

As of December 31, 2018

    

Level 1

    

Level 2

    

Level 3

    

Total

RMB

RMB

RMB

RMB

Short-term investments in time deposits

 

6,855,886

 

 

 

6,855,886

Short-term investments in investment products

10,000

10,000

Available-for-sale debt securities

448,776

448,776

Convertible senior notes

 

1,725,182

 

 

 

1,725,182

Summary of reconciliation of Level 1 fair value measurement of listed equity securities

    

RMB

Balance at December 31, 2018

 

Initial recognition

 

201,558

Unrealized loss

 

(42,410)

Balance at December 31, 2019

 

159,148

Summary of reconciliation of Level 3 fair value measurement of available-for-sale debt securities

    

RMB

Balance at December 31, 2016

165,217

Unrealized gain

147,602

Balance at December 31, 2017

312,819

Unrealized gain

155,387

Sale of debt securities

(19,430)

Balance at December 31, 2018

448,776

Balance at December 31, 2019

448,776