|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31,
|
|
|
|
2016
|
|
2017
|
|
2018
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
(Note 2(a))
|
|
|
|
(in millions)
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
71,289
|
|
|
41,226
|
|
|
61,412
|
|
|
9,791
|
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revaluation of previously held equity interest
|
|
|
(18,603
|
)
|
|
(770
|
)
|
|
(24,436
|
)
|
|
(3,896
|
)
|
|
Gain on disposals of equity investees
|
|
|
(3,089
|
)
|
|
(536
|
)
|
|
(2,971
|
)
|
|
(474
|
)
|
|
Realized and unrealized gain related to investment securities
|
|
|
(906
|
)
|
|
(5,488
|
)
|
|
(70
|
)
|
|
(11
|
)
|
|
Change in fair value of other assets and liabilities
|
|
|
84
|
|
|
(759
|
)
|
|
1,415
|
|
|
225
|
|
|
(Gain) Loss on disposals of subsidiaries
|
|
|
(26,913
|
)
|
|
35
|
|
|
(14
|
)
|
|
(2
|
)
|
|
Depreciation and amortization of property and equipment and land use rights
|
|
|
3,770
|
|
|
5,284
|
|
|
8,789
|
|
|
1,401
|
|
|
Amortization of intangible assets and licensed copyrights
|
|
|
3,278
|
|
|
9,008
|
|
|
13,231
|
|
|
2,109
|
|
|
Tax benefits from share-based awards
|
|
|
(1,120
|
)
|
|
(1,369
|
)
|
|
—
|
|
|
—
|
|
|
Share-based compensation expense
|
|
|
16,082
|
|
|
15,995
|
|
|
20,075
|
|
|
3,201
|
|
|
Impairment of cost method investees and investment securities
|
|
|
1,864
|
|
|
2,298
|
|
|
1,816
|
|
|
290
|
|
|
Impairment of goodwill and licensed copyrights
|
|
|
455
|
|
|
857
|
|
|
1,295
|
|
|
207
|
|
|
(Gain) Loss on disposals of property and equipment
|
|
|
(11
|
)
|
|
34
|
|
|
(95
|
)
|
|
(15
|
)
|
|
Amortization of restructuring reserve
|
|
|
264
|
|
|
264
|
|
|
264
|
|
|
42
|
|
|
Share of results of equity investees
|
|
|
1,730
|
|
|
5,027
|
|
|
20,792
|
|
|
3,315
|
|
|
Deferred income taxes
|
|
|
1,226
|
|
|
281
|
|
|
976
|
|
|
156
|
|
|
Allowance for doubtful accounts
|
|
|
483
|
|
|
1,680
|
|
|
610
|
|
|
97
|
|
|
Changes in assets and liabilities, net of effects of acquisitions and disposals:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Escrow receivables
|
|
|
—
|
|
|
(2,528
|
)
|
|
(643
|
)
|
|
(103
|
)
|
|
Prepayments, receivables and other assets
|
|
|
(4,504
|
)
|
|
(8,237
|
)
|
|
(14,765
|
)
|
|
(2,355
|
)
|
|
Income tax payable
|
|
|
1,237
|
|
|
4,698
|
|
|
6,610
|
|
|
1,054
|
|
|
Escrow money payable
|
|
|
—
|
|
|
2,528
|
|
|
643
|
|
|
103
|
|
|
Accrued expenses, accounts payable and other liabilities
|
|
|
7,757
|
|
|
5,312
|
|
|
23,158
|
|
|
3,692
|
|
|
Merchant deposits
|
|
|
113
|
|
|
875
|
|
|
1,389
|
|
|
221
|
|
|
Deferred revenue and customer advances
|
|
|
2,350
|
|
|
4,611
|
|
|
5,690
|
|
|
907
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
56,836
|
|
|
80,326
|
|
|
125,171
|
|
|
19,955
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (Increase) in short-term investments, net
|
|
|
4,619
|
|
|
5,761
|
|
|
(730
|
)
|
|
(117
|
)
|
|
Decrease (Increase) in restricted cash
|
|
|
746
|
|
|
452
|
|
|
(121
|
)
|
|
(19
|
)
|
|
Decrease in trading securities, net
|
|
|
9
|
|
|
1,229
|
|
|
—
|
|
|
—
|
|
|
Payments for settlement of forward exchange contracts
|
|
|
—
|
|
|
(256
|
)
|
|
(582
|
)
|
|
(94
|
)
|
|
Acquisitions of available-for-sale and other investment securities
|
|
|
(15,363
|
)
|
|
(4,669
|
)
|
|
(11,872
|
)
|
|
(1,892
|
)
|
|
Disposals of available-for-sale and other investment securities
|
|
|
2,177
|
|
|
4,354
|
|
|
7,223
|
|
|
1,152
|
|
|
Acquisitions of equity investees
|
|
|
(37,625
|
)
|
|
(39,429
|
)
|
|
(53,742
|
)
|
|
(8,568
|
)
|
|
Disposals of equity investees
|
|
|
10,021
|
|
|
4,941
|
|
|
6,185
|
|
|
986
|
|
|
Acquisitions of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land use rights and construction in progress
|
|
|
(5,407
|
)
|
|
(5,326
|
)
|
|
(4,027
|
)
|
|
(642
|
)
|
|
Other property and equipment, intangible assets and licensed copyrights
|
|
|
(5,438
|
)
|
|
(12,220
|
)
|
|
(25,809
|
)
|
|
(4,114
|
)
|
|
Cash paid for business combinations, net of cash acquired
|
|
|
(1,495
|
)
|
|
(33,454
|
)
|
|
(520
|
)
|
|
(83
|
)
|
|
Deconsolidation and disposal of subsidiaries, net of cash proceeds
|
|
|
4,890
|
|
|
250
|
|
|
(27
|
)
|
|
(4
|
)
|
|
Loans to employees, net of repayments
|
|
|
35
|
|
|
3
|
|
|
132
|
|
|
21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
(42,831
|
)
|
|
(78,364
|
)
|
|
(83,890
|
)
|
|
(13,374
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
