Condensed Financial Information of the Parent Company

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

29. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

Condensed Balance Sheets

	As of December 31,
	Note		2018			2019			2019
			RMB			RMB			US$
ASSETS
Current assets:
Cash and cash equivalents				2,071,921			2,774,681			398,558
Restricted cash				508,987			—			—
Short-term investments				2,524,609			1,237,730			177,789
Prepayments and other assets				8,791			16,849			2,420
Amounts due from entities within the Group				16,528,487			17,967,978			2,580,939
Total current assets				21,642,795			21,997,238			3,159,706
Non-current assets:
Long-term investments				137,564			—			—
Investment in subsidiaries, VIEs and VIEs’ subsidiaries				372,373			—			—
Amounts due from entities within the Group				695,906			—			—
Total non-current assets				1,205,843			—			—
Total assets				22,848,638			21,997,238			3,159,706
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accrued expenses and other liabilities				57,284			99,823			14,339
Non-current liabilities
Convertible senior notes		15		4,712,284			12,296,868			1,766,335
Other non-current liabilities				42,139			29,533			4,242
Total non-current liabilities				4,754,423			12,326,401			1,770,577
Total liabilities				4,811,707			12,426,224			1,784,916
Commitments and contingencies		18
Shareholders’ equity:
Class A ordinary shares (US$0.00001 par value;    94,000,000,000 shares authorized as of December 31, 2018    and 2019, respectively; 2,580,950,531 and 2,603,890,438 shares issued as of    December 31, 2018 and 2019, respectively; 2,199,425,905 and 2,259,125,125    shares outstanding as of December 31, 2018 and 2019, respectively)		20		138			142			20
Class B ordinary shares (US$0.00001 par value; 5,000,000,000 and 5,000,000,000    shares authorized as of December 31, 2018 and 2019, respectively;    2,876,391,396 and 2,876,391,396 shares issued and outstanding as of    December 31, 2018 and 2019, respectively)		20		183			183			26
Additional paid-in capital				39,666,150			41,298,328			5,932,134
Accumulated deficit		21		(23,509,486	)		(33,834,357	)		(4,860,001	)
Accumulated other comprehensive income		27		1,879,946			2,106,718			302,611
Total shareholders’ equity				18,036,931			9,571,014			1,374,790
Total liabilities and shareholders’ equity				22,848,638			21,997,238			3,159,706

Condensed Statements of Comprehensive Loss

	Year ended December 31,
		2017			2018			2019			2019
		RMB			RMB			RMB			US$
Operating costs and expenses:
Selling, general and administrative			(6,058	)		(48,253	)		(14,946	)		(2,147	)
Operating loss
Share of losses of subsidiaries, VIEs and VIEs’ subsidiaries			(3,963,264	)		(8,573,048	)		(9,593,221	)		(1,377,980	)
Interest income			101,851			260,360			133,930			19,238
Interest expenses			(116,989	)		(25,550	)		(603,449	)		(86,680	)
Foreign exchange gain/(loss), net			247,528			(694,907	)		(118,439	)		(17,013	)
Other expense, net			—			(28,378	)		(127,204	)		(18,272	)
Net loss			(3,736,932	)		(9,109,776	)		(10,323,329	)		(1,482,854	)
Accretion of redeemable convertible preferred shares			5,073,140			(298,990	)		—			—
Accretion of redeemable noncontrolling interests			—			—			(1,542	)		(222	)
Extinguishment and reissuance of Series B preferred shares			(363,279	)		—			—			—
Net income/(loss) attributable to ordinary shareholders			972,929			(9,408,766	)		(10,324,871	)		(1,483,076	)
Other comprehensive income
Foreign currency translation adjustments			(264,774	)		1,787,553			227,048			32,613
Unrealized losses on available-for-sale debt securities			(1,470	)		(733	)		(276	)		(40	)
Total other comprehensive (loss)/income, net of tax			(266,244	)		1,786,820			226,772			32,573
Comprehensive loss			(4,003,176	)		(7,322,956	)		(10,096,557	)		(1,450,281	)

Condensed Statements of Cash Flows

	Year ended December 31,
	2017			2018			2019			2019
	RMB			RMB			RMB			US$
Net cash provided by/(used for) operating activities		55,245			87,322			(122,370	)		(17,577	)
Net cash used for investing activities		(10,468,969	)		(17,575,740	)		(7,268,873	)		(1,044,108	)
Net cash provided by financing activities		10,528,236			19,703,701			7,489,321			1,075,774
Effect of exchange rate changes on cash, cash equivalents and   restricted cash		(217,839	)		269,735			95,695			13,746
Net (decrease)/increase in cash, cash equivalents and   restricted cash		(103,327	)		2,485,018			193,773			27,835
Cash, cash equivalents and restricted cash at the beginning of   the year		199,217			95,890			2,580,908			370,724
Cash, cash equivalents and restricted cash at the end of the year		95,890			2,580,908			2,774,681			398,559

Basis of presentation

For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323. The subsidiaries, VIEs and VIEs’ subsidiaries losses are reported as “Share of losses of subsidiaries, VIEs and VIEs’ subsidiaries” on the condensed statements of comprehensive loss. Under the equity method of accounting, the Company’s carrying amount of its investment in subsidiaries for its share of the subsidiaries, VIEs and VIEs’ subsidiaries cumulative losses was reduced to nil as of December 31, 2019 and the carrying amount of “Amounts due from entities within the Group” was further adjusted and the Company committed to provide financial support to its VIEs as disclosed in Note 1.

The subsidiaries did not pay any dividends to the Company for the periods presented.

The Company does not have significant commitments or long-term obligations as of the period end other than those presented.

The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.