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Consolidated Statements of Cash Flows - CNY (¥)
¥ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income/(loss) ¥ (273,066) ¥ 365,279 ¥ 724,002
Net (income)/loss from discontinued operations, net of income taxes   62,366 (54,242)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Share-based compensation 9,582 9,383 11,859
Provision for allowance for credit losses, including related party amounts of RMB(2,336), RMB3,344 and RMB1,000 for the years ended December 31, 2019, 2020 and 2021, respectively 186,520 75,840 39,952
Depreciation and amortization expense 28,503 38,930 49,556
Amortization of the right-of-use assets 37,549 39,981 33,809
Impairment of intangible assets 369 10,572
Loss/(income) from equity method investments, net of impairment (401) (5,598) 3,447
Fair value changes in investments, net (1,906)    
Impairment of available-for-sale debt investments   2,000  
Deferred tax benefit (5,322) (13,179) (1,269)
(Gain)/loss on disposal of property and equipment 1,107 (1,642) (216)
Gain on disposal of available-for-sale debt investments   (477,254) (1,001,181)
Impairment of goodwill 22,786
Changes in fair value of loan related to co-sale of Particle shares   24,535  
Changes in fair value of forward contract in relation to disposal of investments in Particle   (16,085) (4,441)
Foreign currency exchange gain (8,612) (5,494) (7,892)
Changes in operating assets and liabilities, net of effects of acquisition:      
Accounts receivable 33,161 (149,780) (73,932)
Prepayments and other current assets (8,285) 15,576 38,364
Amounts due from related parties (25,492) 20,721 36,911
Other non-current assets 6,535 10,106 (98)
Accounts payable (9,083) (27,719) (53,166)
Advances from customers (5,374) (7,337) (7,341)
Salary and welfare payable (36,787) (1,185) 15,691
Taxes payable 10,166 20,778 15,735
Amounts due to related parties 315 265 15,437
Accrued expenses and other current liabilities (45,834) (78,031) (123,338)
Long-term liabilities (36,467) (39,109) (29,032)
Net cash used in continuing operating activities (142,822) (103,295) (371,385)
Net cash provided by discontinued operating activities   186 41,080
Net cash used in operating activities (142,822) (103,109) (330,305)
Cash flows from investing activities:      
Purchase of property and equipment and intangible assets (16,833) (12,090) (57,885)
Placement of term deposits and short term investments (5,839,637) (6,456,943) (9,175,619)
Maturity of term deposits and short term investments 5,810,436 6,404,429 8,844,241
Payment for the equity investment (14,000) (82,000) (6,500)
Loans provided to a third party related to co-sale of Particle shares   (68,867)  
Net proceeds from disposal of available-for-sale debt investments   695,937 1,403,046
Deposits received from proposed buyers of investments in Particle     357,974
Cash acquired from acquisition of a subsidiary, net of cash acquired     175,489
Proceeds from disposal of property and equipment and intangible assets 17,381    
Net cash provided by/(used in) continuing investing activities (42,653) 480,466 1,540,746
Net cash (used in)/provided by discontinued investing activities   265,753 (80,352)
Net cash provided by/(used in) investing activities (42,653) 746,219 1,460,394
Cash flows from financing activities:      
Proceeds from exercise of stock options     511
Repayment of loan from a noncontrolling shareholder   (7,630)  
Repayment of short-term bank loans     (267,886)
Dividends paid to shareholders (3,540) (645,244) (703,145)
Cash received from discount of notes receivable   11,612  
Capital injection from noncontrolling shareholders   1,600  
Net cash used in continuing financing activities (3,540) (639,662) (970,520)
Net cash used in discontinued financing activities     (144,100)
Net cash used in financing activities (3,540) (639,662) (1,114,620)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,778 (38,563) (35,191)
Cash, cash equivalents and restricted cash of discontinued operations   46,840 (33,916)
Net decrease in cash, cash equivalents and restricted cash (184,237) (35,115) (19,722)
Cash, cash equivalents and restricted cash at the beginning of the year 388,835 377,110 430,748
Cash and cash equivalents at the beginning of the year 357,796 310,876 161,100
Restricted cash at the beginning of the year 31,039 66,234 269,648
Cash, cash equivalents and restricted cash at the end of the year 204,598 388,835 377,110
Cash and cash equivalents at the end of the year 188,980 357,796 310,876
Restricted cash at the end of the year 15,618 31,039 66,234
Supplemental disclosure of cash flow information:      
Cash paid during the period for income taxes ¥ 1,012 1,688 1,083
Cash paid during the period for interest expenses   1,112 ¥ 4,026
Supplemental disclosure of non-cash investing activities:      
Acquisition of available-for-sale debt investments from pledge of an interest-free loan   42,135  
Acquisition of available-for-sale debt investments from a series of debt restructuring transaction and share exchange transaction   ¥ 5,980