| CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY |
25.CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY Condensed Balance Sheets
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As of December 31, |
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Note |
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2024 |
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2025 |
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2025 |
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RMB |
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RMB |
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US$ |
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(In thousands) |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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887,386 |
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1,615,986 |
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231,083 |
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Prepayments and other assets |
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2,543 |
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19,043 |
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2,723 |
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Amounts due from entities within the Group |
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21,082,425 |
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19,898,404 |
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2,845,435 |
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Total current assets |
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21,972,354 |
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21,533,433 |
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3,079,241 |
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Total non-current assets |
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— |
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— |
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— |
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Total assets |
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21,972,354 |
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21,533,433 |
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3,079,241 |
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
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Current liabilities |
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Convertible senior notes |
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14 |
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242,460 |
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1,459,151 |
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208,656 |
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Accrued expenses and other liabilities |
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13,898 |
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45,808 |
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6,550 |
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Total current liabilities |
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256,358 |
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1,504,959 |
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215,206 |
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Non-current liabilities |
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Convertible senior notes |
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14 |
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8,350,570 |
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6,711,948 |
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959,796 |
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Total non-current liabilities |
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8,350,570 |
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6,711,948 |
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959,796 |
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Total liabilities |
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8,606,928 |
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8,216,907 |
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1,175,002 |
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Commitments and contingencies |
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17 |
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Shareholders’ equity: |
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Class A ordinary shares (US$0.00001 par value;
94,000,000,000 shares authorized as of December 31,
2024 and 2025, respectively; 3,854,584,680 and
3,855,283,602 shares issued as of December 31,
2024 and 2025, respectively; 3,698,793,887 and
3,713,284,286 shares outstanding as of December 31,
2024 and 2025, respectively) |
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18 |
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238 |
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239 |
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34 |
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Class B ordinary shares (US$0.00001 par value;
5,000,000,000 shares authorized as of December 31,
2024 and 2025; 3,041,097,278 shares issued and
outstanding as of December 31, 2024 and 2025) |
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18 |
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193 |
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193 |
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28 |
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Additional paid-in capital |
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55,623,841 |
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56,026,232 |
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8,011,645 |
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Accumulated deficit |
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19 |
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(43,809,369 |
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(44,015,680 |
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(6,294,158 |
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Accumulated other comprehensive income |
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24 |
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1,550,523 |
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1,305,542 |
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186,690 |
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Total shareholders’ equity |
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13,365,426 |
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13,316,526 |
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1,904,239 |
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Total liabilities and shareholders’ equity |
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21,972,354 |
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21,533,433 |
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3,079,241 |
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Condensed Statements of Comprehensive Income/(Loss)
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Year ended December 31, |
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2023 |
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2024 |
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2025 |
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2025 |
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RMB |
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RMB |
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RMB |
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US$ |
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(In thousands) |
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Operating costs and expenses: |
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Selling, general and administrative |
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(11,397 |
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(13,814 |
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(14,893 |
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(2,130 |
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Operating loss |
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Share of income/(losses) of subsidiaries, VIEs and VIEs’ subsidiaries |
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2,975,000 |
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1,844,679 |
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(751,561 |
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(107,472 |
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Interest income |
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115,209 |
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59,742 |
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41,912 |
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5,993 |
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Interest expenses |
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(726,487 |
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(672,647 |
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(334,890 |
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(47,889 |
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Foreign exchange gain/(loss), net |
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(665,335 |
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(640,334 |
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707,365 |
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101,152 |
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Others, net |
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238,479 |
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186,433 |
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145,756 |
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20,844 |
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Net income/(loss) |
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1,925,469 |
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764,059 |
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(206,311 |
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(29,502 |
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Net income/(loss) attributable to ordinary shareholders |
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1,925,469 |
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764,059 |
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(206,311 |
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(29,502 |
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Other comprehensive loss: |
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Foreign currency translation adjustments |
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(164,040 |
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(134,533 |
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(95,805 |
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(13,700 |
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Unrealized losses on available-for-sale
debt securities |
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(11,367 |
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(2,991 |
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(149,176 |
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(21,332 |
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Total other comprehensive loss, net of tax |
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(175,407 |
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(137,524 |
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(244,981 |
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(35,032 |
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Comprehensive income/(loss) |
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1,750,062 |
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626,535 |
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(451,292 |
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(64,534 |
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Condensed Statements of Cash Flows
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Year ended December 31, |
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2023 |
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2024 |
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2025 |
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2025 |
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RMB |
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RMB |
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RMB |
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US$ |
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(In thousands) |
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Net cash used for operating activities |
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(370,682 |
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(35,985 |
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(69,191 |
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(9,894 |
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Net cash provided by investing activities |
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238,001 |
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3,384,507 |
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1,185,440 |
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169,516 |
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Net cash used for financing activities |
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(3,859,442 |
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(2,873,166 |
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(338,134 |
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(48,353 |
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Effect of exchange rate changes on cash and cash equivalents |
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58,157 |
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11,028 |
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(49,515 |
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(7,081 |
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Net increase/(decrease) in cash and cash equivalents |
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(3,933,966 |
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486,384 |
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728,600 |
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104,188 |
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Cash and cash equivalents at the beginning of the year |
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4,334,968 |
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401,002 |
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887,386 |
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126,895 |
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Cash and cash equivalents at the end of the year |
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401,002 |
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887,386 |
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1,615,986 |
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231,083 |
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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 income or losses are reported as “Share of income/(losses) of subsidiaries, VIEs and VIEs’ subsidiaries” on the condensed statements of comprehensive income/(loss). Under the equity method of accounting, the Company’s carrying amount of its investment in subsidiaries, VIEs and VIEs’ subsidiaries was reduced to nil as of December 31, 2024 and 2025, and the carrying amount of “Amounts due from entities within the Group” was further adjusted as the Company committed to provide financial support to its VIEs as disclosed in Note 1. 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. |