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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Effective Tax Rate and Statutory Income Tax Rate Applicable to PRC Operations

China - continued

The reconciliation of the effective tax rate and the statutory income tax rate applicable to PRC operations is as follows:

 

 

 

For the years ended December 31,

 

 

 

2016

 

 

2017

 

 

2018

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Loss before income tax expenses

 

 

(253,567

)

 

 

(913,824

)

 

 

(928,660

)

Income tax expenses computed at

   applicable tax rates of 25%

 

 

(63,392

)

 

 

(228,456

)

 

 

(232,165

)

Non-deductible and super deduction expenses

 

 

2,477

 

 

 

(3,490

)

 

 

(8,013

)

Effect of tax holidays and preferential tax rates

 

 

24,808

 

 

 

130,296

 

 

 

64,029

 

Change in valuation allowance

 

 

36,107

 

 

 

101,650

 

 

 

176,149

 

Income tax expenses

 

 

 

 

 

 

 

 

 

Schedule of Components of Deferred Income Tax The components of deferred taxes are as follows

 

 

 

As of December 31,

 

 

 

2017

 

 

2018

 

 

 

RMB

 

 

RMB

 

Non-current deferred tax assets

 

 

 

 

 

 

 

 

Accrued expenses

 

 

5,108

 

 

 

13,270

 

Advertising expenses carry-forwards

 

 

87,600

 

 

 

87,600

 

Net operating loss carry-forwards

 

 

117,031

 

 

 

285,018

 

Total non-current deferred tax assets

 

 

209,739

 

 

 

385,888

 

Less: valuation allowance

 

 

(209,739

)

 

 

(385,888

)

Non-current deferred tax assets, net

 

 

 

 

 

 

Total non-current deferred tax liabilities