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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
CNY (¥)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
CNY (¥)
Dec. 31, 2021
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss ¥ (2,183,647) $ (307,559) ¥ (2,688,388) ¥ (1,591,756)
Adjustments to reconcile net loss to net cash (used in) generated from operating activities:        
Depreciation and amortization 940,482 132,464 1,157,424 855,604
Share-based compensation 181,645 25,584 359,835 434,350
Provision for credit losses 502,185 70,730 346,867 112,013
(Gain) loss from disposal of property and equipment 22,996 3,239 28,788 (5,814)
Changes in fair value of equity investments 10,780 1,518 354 (82,492)
Gain on disposal of equity investments (100) (14)   (10,363)
Impairment of equity investments 13,582 1,913 14,940  
Changes in fair value of purchase consideration of a business acquisition 14,433 2,033 28,516 9,249
Gain on disposal of a subsidiary (6,022) (848)    
Changes in fair value of purchase contingent consideration of a business acquisition       (7,034)
Impairment of contract costs     7,270  
Impairment of long-lived assets 653,670 92,067 0  
Issuance costs expensed for offerings     38,872  
Foreign exchange (gain) loss 57,211 8,058 334,629 (37,822)
Deferred income tax (24,487) (3,449) (35,195) (11,852)
Non-cash operating lease expense 42,617 6,002 72,244 52,648
Changes in operating assets and liabilities:        
Accounts receivable 375,242 52,852 827,589 (947,790)
Prepayments and other assets (216,303) (30,465) 132,639 30,883
Amounts due from related parties (13,007) (1,832) (39,581) (2,075)
Accounts payable (621,327) (87,512) (585,424) 593,410
Accrued expenses and other liabilities 183,381 25,829 251,751 (91,018)
Operating lease liabilities (37,401) (5,268) (43,701) (31,791)
Amounts due to related parties (73,522) (10,355) (15,192) 2,064
Income tax payable 8,522 1,200 (5,263) 20,717
Net cash (used in) generated from operating activities (169,070) (23,813) 188,974 (708,869)
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchases and prepayments of property and equipment (1,958,759) (275,886) (1,418,634) (723,285)
Disposal of property and equipment 12,310 1,734 34,635 8,319
Purchases of intangible assets (5,979) (842) (18,774) (12,106)
Purchases of short-term investments (550,151) (77,487) (2,549,508) (2,568,325)
Proceeds from maturities of short-term investments 1,830,492 257,819 4,043,262 2,720,186
Acquisition of equity investments (12,070) (1,700) (63,356) (52,493)
Disposal of equity investments 2,647 373   63,476
Acquisition of business, net of cash acquired     (157,484) 139,350
Asset-related government grants received 4,372 616 99,571 3,255
Disposal of a subsidiary 3,952 557 (2,577)  
Net cash used in investing activities (673,186) (94,816) (32,865) (421,623)
CASH FLOWS FROM FINANCING ACTIVITIES        
Repayments of long-term bank loan       (74,351)
Proceeds from Long-term bank loan 100,000 14,085    
Repayments of short-term bank loans (963,000) (135,636) (1,375,325) (496,707)
Proceeds from short-term bank loans 1,164,396 164,002 936,658 1,540,166
Settlement of share-based awards     (43,981)  
Acquisition of non-controlling interests (100,000) (14,085)    
Principal repayments of financing leases (13,308) (1,874)    
Payments of offering costs     (25,338)  
Settlements and modifications of financial liabilities arising from business combinations (577,809) (81,383)    
Capital contribution from non-controlling interests     2,143  
Proceeds from loans due to related parties 900,000 126,763 300,000 1,192,455
Repayments of loans due to related parties (741,978) (104,506) (755,719)  
Proceeds from exercise of options 3,847 542 17,801 50,924
Repurchases of ordinary shares     (208,385)  
Net cash generated from (used in) financing activities (227,852) (32,092) (1,152,146) 2,212,487
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 25,863 3,643 73,142 (50,048)
Net increase (decrease) in cash, cash equivalents, and restricted cash (1,044,245) (147,078) (996,037) 1,081,995
Cash, cash equivalents, and restricted cash at beginning of year 3,533,726 497,715 4,456,621 3,424,674
Cash, cash equivalents, and restricted cash at end of year 2,489,481 350,637 3,533,726 4,456,621
Supplemental disclosures of cash flow information:        
Restricted cash 234,194 32,986 114,560 239,093
Income taxes paid 33,923 4,778 64,932 6,874
Interest expense paid 96,730 13,624 130,322 45,844
Non-cash investing and financing activities:        
Purchases of property and equipment included in accrued expenses and other liabilities 458,978 64,646 120,530 759,391
Purchase consideration included in accrued expenses and other liabilities 678,732 95,597 1,208,985 1,328,508
Consideration for acquisition of non-controlling interests included in accrued expenses and other liabilities ¥ 352,483 $ 49,646    
Offering costs included in accrued expenses and other liabilities     ¥ 13,534  
Non-cash acquisition of business       ¥ 3,617,083