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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
CNY (¥)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
CNY (¥)
Dec. 31, 2014
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income ¥ 1,216,223 $ 175,173 ¥ 990,649 ¥ 748,680
Adjustments to reconcile net income to net cash from operating activities:        
Depreciation of property and equipment 65,246 9,397 51,337 35,084
Amortization of intangible assets 4,558 656 5,247 6,053
Loss on disposal of property and equipment 227 33 570 163
Provision for doubtful accounts 2,303 332 2,179 42
(Earnings)/loss from equity method investments 6,638 956 (102) 0
Fair value change of short-term investments (5,883) (847) 0 0
Write-down of inventories and prepayment for vehicle purchase cost 50,190 7,229 0 0
Share-based compensation 195,393 28,142 107,945 56,666
Deferred income taxes (103,800) (14,950) (6,475) 5,334
Changes in operating assets and liabilities:        
Accounts receivable (132,771) (19,123) (340,940) (271,025)
Amounts due from related parties, current (18,806) (2,709) (1,645) 0
Prepaid expenses and other current assets (77,587) (11,175) (264,391) (60,528)
Inventories 4,418 636 (111,667) 0
Restricted cash 51,772 7,457 (61,091) 0
Amounts due from related parties, non-current (809) (116) 0 0
Other non-current assets (12,090) (1,741) (1,965) (12,936)
Accrued expenses and other payables 308,861 44,484 316,714 201,421
Advance from customers 48,668 7,010 (15,316) 40,190
Notes payable (143,880) (20,723) 174,943 0
Deferred revenue 139,656 20,115 433,690 225,557
Income tax payable 31,802 4,580 150,210 54,559
Amounts due to related parties (6,814) (981) 23,411 (534)
Other liabilities 2,381 343 8,538 (4,983)
Net cash generated from operating activities 1,625,896 234,178 1,461,841 1,023,743
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchase of property and equipment (88,837) (12,796) (89,161) (42,718)
Proceeds from disposal of property and equipment 539 78 595 1,084
Acquisition of intangible assets 0 0 0 (108)
Purchase of long-term investments (17,000) (2,449) (124,000) 0
Purchase of short-term investments (4,212,594) (606,740) (3,715,074) (2,155,360)
Maturity of short-term investments 3,802,986 547,744 3,519,983 437,585
Net cash used in investing activities (514,906) (74,163) (407,657) (1,759,517)
CASH FLOWS FROM FINANCING ACTIVITIES        
Decrease in restricted cash 0 0 0 245,000
Repayment of short-term debt 0 0 0 (2,358)
Net proceeds from the initial public offering ("IPO") and follow-on offering of ADSs 0 0 0 603,980
Payments of offering cost for IPO 0 0 0 (11,998)
Payments for repurchase of common stock 0 0 0 (227,015)
Proceeds from exercise of share options 25,420 3,661 30,200 39,787
Capital injection from noncontrolling interests shareholder 2,500 360 0 0
Net cash generated from financing activities 27,920 4,021 30,200 647,396
Effect of exchange rate changes on cash and cash equivalents 2,354 340 13,847 4,181
Net (decrease)/increase in cash and cash equivalents 1,141,264 164,376 1,098,231 (84,197)
Cash and cash equivalents at beginning of year 2,152,647 310,046 1,054,416 1,138,613
Cash and cash equivalents at end of year 3,293,911 474,422 2,152,647 1,054,416
Supplemental disclosures of cash flow information:        
Income taxes paid 102,443 14,755 133,265 137,826
Purchase of fixed assets included in accrued expenses and other payables ¥ 12,200 $ 1,757 ¥ 2,612 ¥ 10,598