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Organization and Principal Activities (Tables)

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Schedule of Subsidiaries, VIEs and VIEs' Subsidiaries

As of December 31, 2019, details of the Company’s major subsidiaries, VIEs and VIEs’ subsidiaries are as follows:

Major subsidiaries

Momo Technology HK Company Limited (“Momo HK”)

Beijing Momo Information Technology Co., Ltd. (“Beijing Momo IT”)

Qool Media HongKong Limited (“QOOL HK”)

Tantan Limited (“Tantan”)

Tantan Hong Kong Limited (“Tantan HK”)

Tantan Technology (Beijing) Co., Ltd. (“Tantan Technology”)

QOOL Media Inc. (“QOOL Inc.”)

QOOL Media Technology (Tianjin) Co., Ltd. (“QOOL Media”)

Major VIEs

Beijing Momo Technology Co., Ltd. (“Beijing Momo”) *

QOOL Media (Tianjin) Co., Ltd. (“QOOL Tianjin”) *

Tantan Culture Development (Beijing) Co., Ltd. (“Tantan Culture”) *

Major VIEs’ subsidiaries

Chengdu Momo Technology Co., Ltd. (“Chengdu Momo”) *

Tianjin Heer Technology Co., Ltd. (“Tianjin Heer”) *

Loudi Momo Technology Co., Ltd. (“Loudi Momo”) *

Momo Pictures Co., Ltd. (“Momo Pictures”) *

*	These entities are controlled by the Company pursuant to the contractual arrangements disclosed below.

Schedule of Amounts and Balances of VIEs Included in Consolidated Financial Statements After Elimination of Intercompany Balances and Transactions

The following consolidated financial statements amounts and balances of the VIEs were included in the accompanying consolidated financial statements after the elimination of intercompany balances and transactions as of and for the years ended December 31:


	As of December 31,
	2018		2019
	RMB		RMB
Cash and cash equivalents		1,502,395		1,147,848
Short- t erm deposits		—		800,000
Accounts receivable, net of allowance for doubtful accounts of RMB nil and RMB12,209 as of December 31, 201 8 and 201 9 , respectively		719,606		259,250
Amount due from related parties		—		4,382
Prepaid expenses and other current assets		425,974		416,862

Total current assets		2,647,975		2,628,342

Right-of-use assets, net		—		39,693
Property and equipment, net		72,539		42,668
Intangible assets		42,821		37,089
Rental deposits		11,619		10,570
Long-term investments		447,465		495,905
Deferred tax assets		52,887		34,514
Other non-current assets		67,480		43,970
Goodwill		22,130		22,130

Total assets		3,364,916		3,354,881

Accounts payable		549,173		611,471
Deferred revenue		441,392		497,166
Accrued expenses and other current liabilities		304,363		244,759
Amounts due to related parties		43,213		29,554
Lease liabilities due within one year		—		6,830
Income tax payable		113,733		122,403

Total current liabilities		1,451,874		1,512,183

Deferred tax liabilities		10,705		9,272
Lease liabilities		—		17,466

Total liabilities		1,462,579		1,538,921


	For the years ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Net revenues		8,886,390			13,408,421			17,001,337
Net income		4,890,438			6,292,183			8,511,991
Net cash provided by operating activities		4,997,183			5,913,709			9,125,496
Net cash used in investing activities		(174,333	)		(151,546	)		(881,828	)
Net cash provided by financing activities		490			—			11,000

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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