| Schedule of VIEs and VIEs' Subsidiaries Included in Consolidated Balance Sheets and Statements of Comprehensive Loss |
The carrying amounts of the assets, liabilities and the results of operations of the VIEs and VIEs’ subsidiaries, after the elimination of intercompany balances and transactions among VIEs and VIEs’ subsidiaries within the Group, included in the Company’s consolidated balance sheets and statements of comprehensive income/(loss) are as follows:
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As of December 31, |
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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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803,720 |
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1,438,131 |
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205,650 |
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Short-term investments |
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738,561 |
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281,692 |
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40,281 |
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Accounts receivable, net |
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2,117,491 |
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2,406,133 |
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344,072 |
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Licensed copyrights, net |
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193,365 |
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270,434 |
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38,672 |
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Prepayments and other assets |
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2,138,706 |
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1,880,948 |
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268,972 |
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Total current assets |
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5,991,843 |
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6,277,338 |
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897,647 |
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Non-current assets: |
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Fixed assets, net |
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607,502 |
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562,349 |
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80,415 |
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Long-term investments |
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1,577,992 |
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1,394,923 |
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199,471 |
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Licensed copyrights, net |
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1,656,880 |
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1,407,960 |
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201,336 |
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Produced content, net |
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13,418,428 |
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13,942,621 |
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1,993,768 |
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Operating lease assets |
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486,719 |
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377,643 |
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54,002 |
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Goodwill |
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2,345,466 |
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2,345,466 |
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335,397 |
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Others |
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1,156,455 |
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1,975,616 |
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282,509 |
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Total non-current assets |
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21,249,442 |
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22,006,578 |
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3,146,898 |
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Total assets |
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27,241,285 |
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28,283,916 |
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4,044,545 |
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LIABILITIES |
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Third-party liabilities |
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Current liabilities: |
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Accounts and notes payable |
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3,422,348 |
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3,879,760 |
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554,798 |
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Customer advances and deferred revenue |
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4,212,168 |
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3,947,934 |
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564,547 |
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Short-term loans |
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1,433,031 |
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996,608 |
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142,513 |
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Long-term loans, current portion |
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63,997 |
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662,656 |
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94,759 |
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Operating lease liabilities, current portion |
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78,079 |
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66,347 |
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9,487 |
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Accrued expenses and other liabilities |
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3,226,119 |
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2,890,603 |
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413,351 |
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Total current liabilities |
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12,435,742 |
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12,443,908 |
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1,779,455 |
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Non-current liabilities: |
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Long-term loans |
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935,455 |
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3,070,772 |
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439,115 |
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Operating lease liabilities |
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433,549 |
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319,955 |
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45,753 |
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Other non-current liabilities |
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980,001 |
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865,836 |
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123,813 |
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Total non-current liabilities |
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2,349,005 |
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4,256,563 |
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608,681 |
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Amounts due to the Company and its subsidiaries |
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19,093,453 |
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19,244,158 |
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2,751,878 |
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Total liabilities |
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33,878,200 |
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35,944,629 |
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5,140,014 |
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For the 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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Total revenues |
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29,783,468 |
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27,576,488 |
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24,357,765 |
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3,483,114 |
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Third-party revenues |
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29,432,773 |
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27,218,410 |
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24,030,973 |
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3,436,383 |
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Inter-Group revenues |
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350,695 |
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358,078 |
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326,792 |
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46,731 |
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Cost of revenues |
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(24,439,915 |
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(22,834,288 |
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(21,045,944 |
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(3,009,530 |
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Third-party cost of revenues |
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(16,776,185 |
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(14,847,818 |
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(15,223,186 |
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(2,176,887 |
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Inter-Group cost of revenues |
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(7,663,730 |
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(7,986,470 |
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(5,822,758 |
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(832,643 |
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Net income/(loss) |
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824,015 |
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492,482 |
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(1,073,271 |
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(153,476 |
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Net cash provided by/(used for) operating activities |
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831,956 |
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(2,024,567 |
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(732,605 |
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(104,761 |
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Net cash provided by/(used for) investing activities |
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251,794 |
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(466,579 |
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292,859 |
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41,878 |
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Net cash provided by/(used for) financing activities |
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(141,212 |
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461,953 |
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1,091,160 |
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156,034 |
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