| | |
As of March 31, | | |
As of December 31, | |
| | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| | |
| | |
| | |
| |
| | |
(in millions) | |
| Assets | |
| | |
| | |
| |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 145,487 | | |
| 128,174 | | |
| 18,329 | |
| Short-term investments | |
| 228,826 | | |
| 179,955 | | |
| 25,733 | |
| Restricted cash and escrow receivables | |
| 43,781 | | |
| 42,345 | | |
| 6,055 | |
| Equity securities and other investments | |
| 53,780 | | |
| 29,981 | | |
| 4,287 | |
| Prepayments, receivables and other assets | |
| 202,175 | | |
| 231,761 | | |
| 33,142 | |
| Total current assets | |
| 674,049 | | |
| 612,216 | | |
| 87,546 | |
| | |
| | | |
| | | |
| | |
| Equity securities and other investments | |
| 356,818 | | |
| 440,384 | | |
| 62,974 | |
| Prepayments, receivables and other assets | |
| 83,431 | | |
| 98,329 | | |
| 14,061 | |
| Investment in equity method investees | |
| 210,169 | | |
| 208,832 | | |
| 29,862 | |
| Property and equipment, net | |
| 203,348 | | |
| 254,478 | | |
| 36,390 | |
| Intangible assets, net | |
| 20,911 | | |
| 18,607 | | |
| 2,661 | |
| Goodwill | |
| 255,501 | | |
| 245,453 | | |
| 35,099 | |
| Total assets | |
| 1,804,227 | | |
| 1,878,299 | | |
| 268,593 | |
| | |
| | | |
| | | |
| | |
| Liabilities, Mezzanine Equity and Shareholders’ Equity | |
| | | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | | |
| | |
| Current bank borrowings | |
| 22,562 | | |
| 24,655 | | |
| 3,526 | |
| Income tax payable | |
| 11,638 | | |
| 11,235 | | |
| 1,607 | |
| Accrued expenses, accounts payable and other liabilities | |
| 332,537 | | |
| 351,293 | | |
| 50,234 | |
| Merchant deposits | |
| 274 | | |
| 246 | | |
| 35 | |
| Deferred revenue and customer advances | |
| 68,335 | | |
| 72,382 | | |
| 10,350 | |
| Total current liabilities | |
| 435,346 | | |
| 459,811 | | |
| 65,752 | |
