2022 Q4 Form 20-F Financial Statement

#000095017023009098 Filed on March 22, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $6.201B $24.22B $5.484B
YoY Change 13.08% 20.38%
Cost Of Revenue $4.162B $16.74B $3.965B
YoY Change 4.97% 4.1%
Gross Profit $2.039B $7.486B $1.519B
YoY Change 34.24% 85.06%
Gross Profit Margin 32.88% 30.91% 27.7%
Selling, General & Admin $252.4M $1.129B $487.4M
YoY Change -48.22% -49.16%
% of Gross Profit 12.38% 15.08% 32.09%
Research & Development $259.0M $1.003B $284.7M
YoY Change -9.05% 11.84%
% of Gross Profit 12.7% 13.4% 18.75%
Depreciation & Amortization $29.61M $213.1M
YoY Change -86.11% 114.35%
% of Gross Profit 0.4% 14.03%
Operating Expenses $1.993B $8.201B $2.558B
YoY Change -22.1% -20.96%
Operating Profit $45.58M -$715.3M -$1.040B
YoY Change -104.38% -88.7%
Interest Expense -$2.429M -$40.68M -$13.81M
YoY Change -82.41% 2.14%
% of Operating Profit -5.33%
Other Income/Expense, Net $6.728M -$44.20M -$33.49M
YoY Change -120.09% -11.32%
Pretax Income $49.88M -$800.1M -$1.087B
YoY Change -104.59% -87.54%
Income Tax $0.00 $6.742M $9.373M
% Of Pretax Income 0.0%
Net Earnings $47.81M -$814.4M -$1.096B
YoY Change -104.36% -87.33%
Net Earnings / Revenue 0.77% -3.36% -19.99%
Basic Earnings Per Share
Diluted Earnings Per Share $0.15 -$2.81 -$3.096M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.493B $6.493B $5.231B
YoY Change 24.12% 24.12%
Cash & Equivalents $1.856B $1.856B $662.8M
Short-Term Investments $4.637B $4.637B $4.568B
Other Short-Term Assets $256.9M $256.9M $556.2M
YoY Change -53.81% 30.89%
Inventory $604.9M $604.9M $537.5M
Prepaid Expenses
Receivables $141.5M $141.5M $191.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.496B $7.496B $6.516B
YoY Change 15.04% 15.04%
LONG-TERM ASSETS
Property, Plant & Equipment $1.740B $1.740B $2.718B
YoY Change -35.98% -35.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $145.6M $145.6M $185.8M
YoY Change -21.65% -21.65%
Total Long-Term Assets $1.886B $1.886B $2.904B
YoY Change -35.06% -35.06%
TOTAL ASSETS
Total Short-Term Assets $7.496B $7.496B $6.516B
Total Long-Term Assets $1.886B $1.886B $2.904B
Total Assets $9.382B $9.382B $9.420B
YoY Change -0.4% -0.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.887B $1.887B $2.059B
YoY Change -8.35% -8.35%
Accrued Expenses $1.834B $1.834B $1.867B
YoY Change -1.82% 1.42%
Deferred Revenue $15.03M $96.79M
YoY Change -84.47%
Short-Term Debt $4.238B $4.238B $3.121B
YoY Change 35.79% 35.79%
Long-Term Debt Due $0.00 $0.00 $57.88M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $8.211B $8.211B $7.349B
YoY Change 11.74% 11.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $753.0M $753.0M $1.313B
YoY Change -42.67% -42.67%
Total Long-Term Liabilities $753.0M $753.0M $1.313B
YoY Change -42.67% -42.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.211B $8.211B $7.349B
Total Long-Term Liabilities $753.0M $753.0M $1.313B
Total Liabilities $8.964B $8.964B $8.662B
YoY Change 3.49% 3.49%
SHAREHOLDERS EQUITY
Retained Earnings -$1.969B -$12.77B
YoY Change -84.58%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.997M $7.042M
YoY Change -57.44%
Treasury Stock Shares
Shareholders Equity $417.7M $417.7M $758.1M
YoY Change
Total Liabilities & Shareholders Equity $9.382B $9.382B $9.420B
YoY Change -0.4% -0.4%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income $47.81M -$814.4M -$1.096B
YoY Change -104.36% -87.33%
Depreciation, Depletion And Amortization $29.61M $213.1M
YoY Change -86.11% 114.35%
Cash From Operating Activities $682.1M $107.1M -$1.762B
YoY Change -138.72% -101.89% -14.95%
INVESTING ACTIVITIES
Capital Expenditures $18.40M -$451.6M
YoY Change -104.07% 103.21%
Acquisitions
YoY Change
Other Investing Activities -$230.5M -$66.90M -$606.7M
YoY Change -62.01% -98.15% -40.0%
Cash From Investing Activities -$230.5M -$66.90M -$1.058B
YoY Change -78.22% -98.35% -14.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.676B
YoY Change 207.49%
Debt Paid & Issued, Net $8.391M
YoY Change -90.36%
Cash From Financing Activities -10.84M 1.112B 413.5M
YoY Change -102.62% -87.7% -87.35%
NET CHANGE
Cash From Operating Activities 682.1M 107.1M -1.762B
Cash From Investing Activities -230.5M -66.90M -1.058B
Cash From Financing Activities -10.84M 1.112B 413.5M
Net Change In Cash 440.8M 1.153B -2.406B
YoY Change -118.32% -267.23% 6462.91%
FREE CASH FLOW
Cash From Operating Activities $682.1M $107.1M -$1.762B
Capital Expenditures $18.40M -$451.6M
Free Cash Flow $88.74M -$1.310B
YoY Change -101.7% -29.15%

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CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
97204000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1450448000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
670432000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1858950000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
269523000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
13037000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
77100000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
133731000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
19389000
CY2020 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
29489000
CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
12341000
CY2022 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
9196000
CY2022 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
1333000
CY2020 ddl Issuance Of Series B Four One Redeemable Convertible Preferred Shares Upon Exercise Of Warrants Held By The Founder
IssuanceOfSeriesBFourOneRedeemableConvertiblePreferredSharesUponExerciseOfWarrantsHeldByTheFounder
203771000
CY2021 ddl Issuance Of Series B Four One Redeemable Convertible Preferred Shares Upon Exercise Of Warrants Held By The Founder
IssuanceOfSeriesBFourOneRedeemableConvertiblePreferredSharesUponExerciseOfWarrantsHeldByTheFounder
0
CY2022 ddl Issuance Of Series B Four One Redeemable Convertible Preferred Shares Upon Exercise Of Warrants Held By The Founder
IssuanceOfSeriesBFourOneRedeemableConvertiblePreferredSharesUponExerciseOfWarrantsHeldByTheFounder
0
CY2022 ddl Issuance Of Series B Four One Redeemable Convertible Preferred Shares Upon Exercise Of Warrants Held By The Founder
IssuanceOfSeriesBFourOneRedeemableConvertiblePreferredSharesUponExerciseOfWarrantsHeldByTheFounder
0
CY2020 ddl Issuance Of Series C One Redeemable Convertible Preferred Shares Upon Conversion Of Convertible Notes
IssuanceOfSeriesCOneRedeemableConvertiblePreferredSharesUponConversionOfConvertibleNotes
628709000
CY2021 ddl Issuance Of Series C One Redeemable Convertible Preferred Shares Upon Conversion Of Convertible Notes
IssuanceOfSeriesCOneRedeemableConvertiblePreferredSharesUponConversionOfConvertibleNotes
0
CY2022 ddl Issuance Of Series C One Redeemable Convertible Preferred Shares Upon Conversion Of Convertible Notes
IssuanceOfSeriesCOneRedeemableConvertiblePreferredSharesUponConversionOfConvertibleNotes
0
CY2022 ddl Issuance Of Series C One Redeemable Convertible Preferred Shares Upon Conversion Of Convertible Notes
IssuanceOfSeriesCOneRedeemableConvertiblePreferredSharesUponConversionOfConvertibleNotes
0
CY2020 ddl Issuance Of Series B4 Redeemable Convertible Preferred Shares Upon Exercise Of Warrants
IssuanceOfSeriesB4RedeemableConvertiblePreferredSharesUponExerciseOfWarrants
0
CY2021 ddl Issuance Of Series B4 Redeemable Convertible Preferred Shares Upon Exercise Of Warrants
IssuanceOfSeriesB4RedeemableConvertiblePreferredSharesUponExerciseOfWarrants
359832000
CY2022 ddl Issuance Of Series B4 Redeemable Convertible Preferred Shares Upon Exercise Of Warrants
IssuanceOfSeriesB4RedeemableConvertiblePreferredSharesUponExerciseOfWarrants
0
CY2022 ddl Issuance Of Series B4 Redeemable Convertible Preferred Shares Upon Exercise Of Warrants
IssuanceOfSeriesB4RedeemableConvertiblePreferredSharesUponExerciseOfWarrants
0
CY2020 ddl Issuance Of Series C1 Redeemable Convertible Preferred Shares Upon The Extinguishment Of Advance From Shareholders
IssuanceOfSeriesC1RedeemableConvertiblePreferredSharesUponTheExtinguishmentOfAdvanceFromShareholders
0
CY2021 ddl Issuance Of Series C1 Redeemable Convertible Preferred Shares Upon The Extinguishment Of Advance From Shareholders
IssuanceOfSeriesC1RedeemableConvertiblePreferredSharesUponTheExtinguishmentOfAdvanceFromShareholders
158506000
CY2022 ddl Issuance Of Series C1 Redeemable Convertible Preferred Shares Upon The Extinguishment Of Advance From Shareholders
IssuanceOfSeriesC1RedeemableConvertiblePreferredSharesUponTheExtinguishmentOfAdvanceFromShareholders
0
CY2022 ddl Issuance Of Series C1 Redeemable Convertible Preferred Shares Upon The Extinguishment Of Advance From Shareholders
IssuanceOfSeriesC1RedeemableConvertiblePreferredSharesUponTheExtinguishmentOfAdvanceFromShareholders
0
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1376153000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
662768000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1856187000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
269122000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
74295000
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
7664000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2763000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
401000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1450448000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
670432000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1858950000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
269523000
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
100000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
231300000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
238700000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
34600000
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Reclassification</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:7.933%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company reclassified certain prior period amounts from “Other (expenses)/income, net” to “Other operating income/(loss), net” to conform to current period presentation.</span></p>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:8.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenue and expenses during the reporting periods. Significant accounting estimates reflected in the Group’s consolidated financial statements include allowance for credit losses of accounts receivable and short-term investments, revenues expected to be generated from the Group’s usage of long-lived assets, estimated prices market participants would pay to sub-lease the Group’s operating lease right-of-use assets, cashflow projections used by the Company in its going concern assessment, incremental borrowing rates for operating lease liabilities, valuation allowance for deferred tax assets, determination of the stand-alone selling price (“SSP”) of performance obligations in revenue contracts, breakage estimates related to loyalty points, fair value of share-based payment awards and the fair values of financial instruments . Management bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Actual results could materially differ from those estimates.</span></p>
CY2022Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1
CY2022 ddl Restricted Cash Term Period
RestrictedCashTermPeriod
P12M
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
23300000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3400000
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022Q4 ddl Estimated Liabilities For Return Allowances
EstimatedLiabilitiesForReturnAllowances
0
CY2021Q4 ddl Estimated Liabilities For Return Allowances
EstimatedLiabilitiesForReturnAllowances
0
CY2021 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
2900000
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
700000
CY2020 ddl Outsourcing Expenses
OutsourcingExpenses
2515400000
CY2021 ddl Outsourcing Expenses
OutsourcingExpenses
4266000000.0
CY2022 ddl Outsourcing Expenses
OutsourcingExpenses
3382100000
CY2022 ddl Outsourcing Expenses
OutsourcingExpenses
490400000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
322400000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
1023600000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
306100000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
44400000
CY2020 us-gaap Marketing Expense
MarketingExpense
76100000
CY2021 us-gaap Marketing Expense
MarketingExpense
122300000
CY2022 us-gaap Marketing Expense
MarketingExpense
17600000
CY2022 us-gaap Marketing Expense
MarketingExpense
2500000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
66300000
CY2020 ddl Income From Government Subsidies
IncomeFromGovernmentSubsidies
23200000
CY2021 ddl Income From Government Subsidies
IncomeFromGovernmentSubsidies
16800000
CY2022 ddl Income From Government Subsidies
IncomeFromGovernmentSubsidies
15000000.0
CY2022 ddl Income From Government Subsidies
IncomeFromGovernmentSubsidies
2200000
CY2021Q4 ddl Government Subsidies
GovernmentSubsidies
60000000.0
CY2022Q4 ddl Government Subsidies
GovernmentSubsidies
60000000.0
CY2022Q4 ddl Government Subsidies
GovernmentSubsidies
8700000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
4636774000
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of credit risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:8.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially expose the Group to concentration of credit risk consist primarily of cash and cash equivalents, restricted cash, accounts receivable, short-term investments and other non-current assets. As of December 31, 2021 and 2022, the Group had RMB</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5,238.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and RMB</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">6,495.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million (US$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">941.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million) of cash, time deposits and wealth management products held by financial institutions in the PRC, respectively. Management believes that these financial institutions are of high credit quality and continually monitors the credit worthiness of these financial institutions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:8.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Group conducts credit evaluations on its customers and generally does not require collateral or other security from such customers. The Group periodically evaluates the creditworthiness of the existing customers in determining an allowance for credit losses primarily based upon the age of the receivables and factors surrounding the credit risk of specific customers.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2021Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
5238800000
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
6495700000
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
941800000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
170336000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
24696000
CY2020Q4 ddl Foreign Currency Exchange Rate Risk
ForeignCurrencyExchangeRateRisk
0.063
CY2021Q4 ddl Foreign Currency Exchange Rate Risk
ForeignCurrencyExchangeRateRisk
0.023
CY2022Q4 ddl Foreign Currency Exchange Rate Risk
ForeignCurrencyExchangeRateRisk
0.092
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
53400000
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
161300000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
172400000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
25000000.0
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
96785000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
103680000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
15032000
CY2021Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
243480000
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
253010000
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
36683000
CY2020 ddl Contract With Customers Liability Revenue Recognized
ContractWithCustomersLiabilityRevenueRecognized
57400000
CY2021 ddl Contract With Customers Liability Revenue Recognized
ContractWithCustomersLiabilityRevenueRecognized
117800000
CY2022 ddl Contract With Customers Liability Revenue Recognized
ContractWithCustomersLiabilityRevenueRecognized
148600000
CY2022 ddl Contract With Customers Liability Revenue Recognized
ContractWithCustomersLiabilityRevenueRecognized
21500000
CY2021Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
2900000
CY2022Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
700000
CY2022Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
100000
CY2021Q4 ddl Contract With Customers Liability
ContractWithCustomersLiability
96800000
CY2022Q4 ddl Contract With Customers Liability
ContractWithCustomersLiability
103700000
CY2022Q4 ddl Contract With Customers Liability
ContractWithCustomersLiability
15000000.0
CY2022 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
future periods upon the usage of the prepaid card balances to purchase the Group’s products.
CY2021Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
487066000
CY2022Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
554441000
CY2022Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
80386000
CY2021Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
50406000
CY2022Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
50443000
CY2022Q4 us-gaap Retail Related Inventory Packaging And Other Supplies
RetailRelatedInventoryPackagingAndOtherSupplies
7314000
CY2021Q4 us-gaap Inventory Net
InventoryNet
537472000
CY2022Q4 us-gaap Inventory Net
InventoryNet
604884000
CY2022Q4 us-gaap Inventory Net
InventoryNet
87700000
CY2021Q4 ddl Deductible Value Added Tax Current
DeductibleValueAddedTaxCurrent
359915000
CY2022Q4 ddl Deductible Value Added Tax Current
DeductibleValueAddedTaxCurrent
8635000
CY2022Q4 ddl Deductible Value Added Tax Current
DeductibleValueAddedTaxCurrent
1252000
CY2021Q4 ddl Rental Deposit
RentalDeposit
54824000
CY2022Q4 ddl Rental Deposit
RentalDeposit
68204000
CY2022Q4 ddl Rental Deposit
RentalDeposit
9889000
CY2021Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
15992000
CY2022Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
49491000
CY2022Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
7175000
CY2021Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
31112000
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
44006000
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
6380000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
461843000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
792025000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
733570000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
106358000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
328367000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
446678000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
64762000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
472371000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
314980000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
45668000
CY2020 us-gaap Depreciation
Depreciation
115400000
CY2021 us-gaap Depreciation
Depreciation
213100000
CY2022 us-gaap Depreciation
Depreciation
204200000
CY2022 us-gaap Depreciation
Depreciation
29600000
CY2020 us-gaap Depreciation
Depreciation
115354000
CY2021 us-gaap Depreciation
Depreciation
213082000
CY2022 us-gaap Depreciation
Depreciation
204207000
CY2022 us-gaap Depreciation
Depreciation
29607000
CY2021Q4 ddl Rental Deposits
RentalDeposits
167282000
CY2022Q4 ddl Rental Deposits
RentalDeposits
109272000
CY2022Q4 ddl Rental Deposits
RentalDeposits
15843000
CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
18511000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
36291000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
5262000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
185793000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
145563000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21105000
CY2021Q4 ddl Allowance For Credit Loss Other Current Assets
AllowanceForCreditLossOtherCurrentAssets
0
CY2022Q4 ddl Allowance For Credit Loss Other Current Assets
AllowanceForCreditLossOtherCurrentAssets
2900000
CY2022Q4 ddl Allowance For Credit Loss Other Current Assets
AllowanceForCreditLossOtherCurrentAssets
400000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
98301000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2213590000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1371496000
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
3121046000
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
4237978000
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
614449000
CY2022 us-gaap Short Term Debt Description
ShortTermDebtDescription
secured RMB denominated borrowings from financial institutions in the PRC that are repayable within one year.
CY2021Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0367
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0317
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
57875000
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
593000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
102468000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
14856000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
117468000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15000000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2175000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
117500000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15000000.0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2200000
CY2021Q4 ddl Unrecognized Tax Benefits On Net Basis Against The Deferred Tax Assets Related To Tax Loss Carry Forwards
UnrecognizedTaxBenefitsOnNetBasisAgainstTheDeferredTaxAssetsRelatedToTaxLossCarryForwards
108100000
CY2022Q4 ddl Unrecognized Tax Benefits On Net Basis Against The Deferred Tax Assets Related To Tax Loss Carry Forwards
UnrecognizedTaxBenefitsOnNetBasisAgainstTheDeferredTaxAssetsRelatedToTaxLossCarryForwards
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
tax years ended December 31, 2019 through period ended December 31, 2022 remain open to examination by the PRC tax authorities
CY2021Q2 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2021-04-15
CY2022 ddl Percentage Of Annual Compound Interest From The Actual Payment Date Of Original Issue Price Used To Determine The Redemption Price Of Preferred Share
PercentageOfAnnualCompoundInterestFromTheActualPaymentDateOfOriginalIssuePriceUsedToDetermineTheRedemptionPriceOfPreferredShare
0.08
CY2022 ddl Percentage Of Annual Simple Interest From The Actual Payment Date Of Original Issue Price Used To Determine The Redemption Price Of Preferred Share
PercentageOfAnnualSimpleInterestFromTheActualPaymentDateOfOriginalIssuePriceUsedToDetermineTheRedemptionPriceOfPreferredShare
0.08
CY2022 us-gaap Dividends Preferred Stock
DividendsPreferredStock
0
CY2021 us-gaap Dividends Preferred Stock
DividendsPreferredStock
0
CY2020 us-gaap Dividends Preferred Stock
DividendsPreferredStock
0
CY2020 ddl Increase To Net Loss Attributable To Ordinary Shareholders
IncreaseToNetLossAttributableToOrdinaryShareholders
320300000
CY2021 ddl Increase To Net Loss Attributable To Ordinary Shareholders
IncreaseToNetLossAttributableToOrdinaryShareholders
288400000
CY2022 ddl Increase To Net Loss Attributable To Ordinary Shareholders
IncreaseToNetLossAttributableToOrdinaryShareholders
0
CY2021Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
2727273
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
RedeemableNoncontrollingInterestEquityPreferredCarryingAmount
30000000.0
CY2022Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
6372636
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
RedeemableNoncontrollingInterestEquityPreferredCarryingAmount
70000000.0
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
RedeemableNoncontrollingInterestEquityPreferredCarryingAmount
10100000
CY2022 ddl Percentage Of Amount Equal To The Sum Of Its Original Issue Price On Each Preferred Shares
percentageOfAmountEqualToTheSumOfItsOriginalIssuePriceOnEachPreferredShares
1
CY2022 ddl Percentage Of Annual Compound Interest Calculated From The Actual Payment Date Of Its Purchase Price
PercentageOfAnnualCompoundInterestCalculatedFromTheActualPaymentDateOfItsPurchasePrice
0.08
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
0
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
30000000
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
4350000
CY2021 ddl Issuance Of Subsidiary Shares
IssuanceOfSubsidiaryShares
30000000
CY2022 ddl Issuance Of Subsidiary Shares
IssuanceOfSubsidiaryShares
70000000
CY2022 ddl Issuance Of Subsidiary Shares
IssuanceOfSubsidiaryShares
10149000
CY2021 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0
CY2022 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
7490000
CY2022 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
1086000
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
30000000
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
107490000
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
15585000
CY2021Q4 ddl Common Shares Held
CommonSharesHeld
29633200
CY2022Q4 ddl Common Shares Held
CommonSharesHeld
29701893
CY2022 ddl Statutory Accounting Practices Statutory Capital And Surplus Rate On After Tax Profits
StatutoryAccountingPracticesStatutoryCapitalAndSurplusRateOnAfterTaxProfits
0.10
CY2022 ddl Statutory Accounting Practices Statutory Capital And Surplus Rate On Registered Capital
StatutoryAccountingPracticesStatutoryCapitalAndSurplusRateOnRegisteredCapital
0.50
CY2022 ddl Statutory Accounting Practices Statutory Capital And Surplus Rate On After Tax Profits
StatutoryAccountingPracticesStatutoryCapitalAndSurplusRateOnAfterTaxProfits
0.10
CY2022 ddl Statutory Accounting Practices Statutory Capital And Surplus Rate On Registered Capital
StatutoryAccountingPracticesStatutoryCapitalAndSurplusRateOnRegisteredCapital
0.50
CY2022 ddl Statutory Accounting Practices Statutory Capital And Surplus Rate On After Tax Profits
StatutoryAccountingPracticesStatutoryCapitalAndSurplusRateOnAfterTaxProfits
0.10
CY2022Q4 us-gaap Assets Net
AssetsNet
797800000
CY2022Q4 us-gaap Assets Net
AssetsNet
115700000
CY2022Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
25341000
CY2022Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
3674000

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