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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:        
Net income (loss) ¥ (1,397,284) $ (202,586) ¥ (524,766) ¥ 2,778,323
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation of property, plant and equipment 918,261 133,135 879,729 552,798
Amortization of intangible assets 584,460 84,739 491,032 621,174
Net impairment losses (reversal) on financial assets (21,059) (3,053) 1,326,698 781,656
Impairment of goodwill, intangible assets and other long-lived assets 148,057 21,466 746,705 236,050
Equity method investment impairment 0   2,914 26,650
Provision (reversal) of credit losses for financing receivables 18,658 2,705 124,335 (26,650)
Deferred tax benefits 301,788 43,755 (170,065) (359,429)
Share of results of equity investees (44,588) (6,465) (39,520) 10,924
Dividends received from long-term investments 55,812 8,092 76,619 38,616
Fair value changes in investments 512,225 74,266 (564,804) (369,124)
Impairment loss for equity investments accounted for using measurement alternative 591,876 85,814 183,789 9,000
Gain on short-term investments (795,804) (115,381) (487,724) (174,839)
Foreign currency exchange loss (gain) 127,362 18,466 (20,988) (3,506)
Loss (gain) on disposal of property, plant and equipment and intangible assets (653) (95) 467 (3,548)
Share-based compensation expenses 2,425,249 351,628 1,538,287 2,252,589
Changes in assets and liabilities:        
Accounts receivable 5,160,705 748,232 2,646,058 (5,835,383)
Amounts due from and prepayments to related parties 185,386 26,878 (106,993) 442,957
Prepayments, receivables and other assets (382,652) (55,479) 1,450,492 559,094
Right-of-use assets (3,509,206) (508,787) (418,389) (1,196,085)
Other non-current assets (54,005) (7,830) (11,331) 108,724
Accounts payable (866,389) (125,615) (566,709) 2,302,917
Amounts due to related parties (158,393) (22,965) 329,823 (9,404)
Employee compensation and welfare payable (957,551) (138,832) (1,399,663) 2,118,789
Customer deposits payable 13,491 1,956 (2,561,919) 2,360,453
Contract liabilities 921,104 133,548 367,772 140,784
Lease liabilities 4,073,669 590,626 588,714 1,322,908
Accrued expenses and other current liabilities 652,832 94,652 80,442 767,172
Income taxes payable (41,688) (6,044) (418,876) (8,350)
Other liabilities (909) (131) 52,993 (83,311)
Net cash provided by operating activities 8,460,754 1,226,695 3,595,122 9,361,949
Cash flows from investing activities:        
Purchases of short-term investments (46,917,596) (6,802,412) (47,854,690) (52,966,073)
Maturities of short-term investments 52,337,167 7,588,176 37,978,991 39,767,644
Cash paid for business combinations, net of cash acquired (3,147,760) (456,382) (21,842) (10,800)
Proceeds from disposal of a subsidiary, property, plant and equipment and long-lived assets 19,126 2,773 18,521 24,667
Purchases of property, plant and equipment and intangible assets (793,032) (114,979) (1,429,977) (887,002)
Financing receivables originated (11,529,591) (1,671,634) (32,966,185) (37,176,862)
Collections of financing receivables principal 11,556,201 1,675,492 36,279,018 35,384,443
Purchases of long-term held-to-maturity debt investments     (136,322)  
Purchases of available-for-sale debt investments (1,242,573) (180,156) (8,544,633)  
Purchases of long-term other investments (12,161,577) (1,763,263) (9,458,545) (996,123)
Sales and maturities of available-for-sale debt investments 2,928,668 424,617 715,957  
Proceeds from disposal of other long-term investments 509,221 73,830 542,043 790
Loans to related parties (50,124) (7,267) (28,100) (29,953)
Repayments of loans from related parties 19,515 2,829 21,690 1,911,651
Net cash used in investing activities (8,472,355) (1,228,376) (24,884,074) (14,977,618)
Cash flows from financing activities:        
Ordinary shares issuance upon IPO, net of issuance costs       16,345,822
Ordinary shares issuance upon follow-on public offering, net of issuance costs       15,284,283
Cash paid for noncontrolling interests in subsidiaries     (870) (51,474)
Cash paid for mandatorily redeemable non-controlling interests       (193,983)
Repurchase of ordinary shares (1,319,796) (191,352)    
Proceeds from issuance of ordinary shares upon exercise of share option 3   7  
Proceeds from short-term borrowings 759,000 110,045 260,000 250,000
Repayments of short-term borrowings (400,000) (57,995)   (970,000)
Proceeds from long-term borrowings       42,040
Repayments of long-term borrowings       (4,528,725)
Proceeds from funding debts 133,400 19,341 507,543 3,260,988
Repayments of funding debts (327,600) (47,498) (1,840,853) (4,032,701)
Net cash provided by (used in) financing activities (1,154,993) (167,459) (1,074,173) 25,406,250
Effect of exchange rate change on cash, cash equivalents and restricted cash 28,644 4,153 (442,141) (2,183,682)
Net increase (decrease) in cash and cash equivalents and restricted cash (1,137,950) (164,987) (22,805,266) 17,606,899
Cash and cash equivalents at the beginning of the year 20,446,104 2,964,406 40,969,979 24,319,332
Restricted cash at the beginning of the year 6,286,105 911,400 8,567,496 7,380,341
Non-current restricted cash at the beginning of the year       230,903
Total 26,732,209 3,875,806 49,537,475 31,930,576
Cash and cash equivalents at the end of the year 19,413,202 2,814,650 20,446,104 40,969,979
Restricted cash at the end of the year 6,181,057 896,169 6,286,105 8,567,496
Total 25,594,259 3,710,819 26,732,209 49,537,475
Supplemental disclosures:        
Cash paid for income taxes (1,446,640) (209,743) (2,295,576) (2,076,115)
Cash paid for interest (13,625) (1,975) (4,671) (194,752)
Non-cash investing and financing activities        
Accretion of convertible redeemable preferred shares to redemption value       1,755,228
Changes in accounts payable related to property, plant and equipment addition ¥ 93,726 $ 13,589 ¥ 20,142 (139,100)
Issuance of ordinary shares for purchase of non-controlling interests       ¥ 605,395