Redeemable Noncontrolling Interests

12 Months Ended

Dec. 31, 2024

Temporary Equity Disclosure [Abstract]

20.	REDEEMABLE NONCONTROLLING INTERESTS


	2022			2023		2024			2024
	RMB			RMB		RMB			US$
	(In millions)
Balance as of January 1		7,148			8,393		9,465			1,297
Issuance of subsidiaries’ shares		1,208			351		615			84
Accretion of redeemable noncontrolling interests		593			721		588			80
Disposal of subsidiaries’ shares		(556	)		—		—			—
Repurchase of redeemable noncontrolling interests		—			—		(798	)		(109	)

Balance as of December 31		8,393			9,465		9,870			1,352

In 2022, a subsidiary of the Group issued

5,639,407

preferred shares to a

non-controlling

shareholder, which could be redeemed by such shareholder upon the occurrence of certain events that are not solely within the control of the Group. Therefore, these preferred shares were accounted for as redeemable noncontrolling interests. In 2024,

16,848,082

preferred shares were repurchased by this subsidiary.

In 2022, 2023 and 2024, a subsidiary of the Group issued

1,068,363, 407,103 and 659,564

respectively, preferred shares to certain

non-controlling

shareholders, which could be redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of the Group. Therefore, these preferred shares were accounted for as redeemable noncontrolling interests.

The Company also have other subsidiaries or VIEs that have issued preferred shares which were accounted for as redeemable noncontrolling interests. As of December 31, 2024, those redeemable noncontrolling interests were insignificant.

The Company accounts for the changes in accretion to the

redemption

value in accordance with ASC Topic 480, Distinguishing Liabilities from Equity. The Company elects to use the effective interest method to account for the changes of redemption value over the period from the date of issuance to the earliest redemption date of the noncontrolling interest.