Revenues |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Revenues |
Contract liabilities were mainly related to considerations received in advance for online platform services, for which control of the services occur at a later point in time. Balances of contract liabilities were RMB5,931,850 and RMB8,633,670 (US$1,182,808) as of December 31, 2023 and 2024, respectively, which were included in “Customer advances and deferred revenues” and “Payable to merchants” in the consolidated balance sheets. During the year ended December 31, 2024, revenues of RMB5,426,188 (US$743,385) were recognized from the carrying value of contract liabilities as of December 31, 2023. During the year ended December 31, 2023, revenues of RMB1,811,993 were recognized from the carrying value of contract liabilities as of December 31, 2022. |
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