v3.25.1
Share-based compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-based compensation  
Schedule of share-based compensation expenses
For the years ended December 31, 2022, 2023 and 2024, total share-based compensation expenses recognized were RMB7,548 million, RMB4,804 million and RMB2,999 million, respectively. The following table sets forth the allocation of share-based compensation expenses:
 
    
For the year ended December 31,
 
    
2022
    
2023
    
2024
 
    
(RMB in millions)
 
Cost of revenues
     143        133        80  
Fulfillment
     930        697        424  
Marketing
     631        426        273  
Research and development
     1,557        859        599  
General and administrative
     4,287        2,689        1,623  
  
 
 
    
 
 
    
 
 
 
Total
     7,548        4,804        2,999  
  
 
 
    
 
 
    
 
 
 
Employee and non-employee  
Share-based compensation  
Schedule of RSUs activity
A summary of activities of the service-based RSUs for the years ended December 31, 2022, 2023 and 2024 is presented as follows:
 
    
Number of
RSUs
    
Weighted-
Average
Grant-Date

Fair Value
 
           
US$
 
Unvested as of December 31, 2021
     95,108,866        25.89  
  
 
 
    
Granted
     13,951,100        29.81  
Vested
     (23,123,292      23.04  
Forfeited or cancelled
     (14,295,620      25.94  
  
 
 
    
Unvested as of December 31, 2022
     71,641,054        27.56  
  
 
 
    
Granted
     16,682,380        18.24  
Vested
     (19,416,652      24.83  
Forfeited or cancelled
     (14,918,722      28.48  
  
 
 
    
Unvested as of December 31, 2023
     53,988,060        25.40  
  
 
 
    
Granted
     43,677,248        15.33  
Vested
     (16,805,414      25.07  
Forfeited or cancelled
     (9,876,472      23.60  
  
 
 
    
Unvested as of December 31, 2024
     70,983,422        19.53  
  
 
 
    
Schedule of service-based share options activity
A summary of activities of the service-based share options for the years ended December 31, 2022, 2023 and 2024 is presented as follows:
 
    
Number of
Share
Options
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Remaining
Contractual
Term
    
Aggregate
Intrinsic
Value
 
           
US$
    
Year
    
US$
in millions
 
Outstanding as of December 31, 2021
     2,937,112        6.95        2.9        82  
  
 
 
          
Exercised
     (620,476      5.70        
Forfeited or cancelled
     (2,500      3.96        
  
 
 
          
Outstanding as of December 31, 2022
     2,314,136        7.29        2.2        48  
  
 
 
          
Exercised
     (1,485,726      4.44        
Forfeited or cancelled
     (24,590      11.65        
  
 
 
          
Outstanding as of December 31, 2023
     803,820        12.43        3.7        2  
  
 
 
          
Exercised
     (122,670      13.01        
Forfeited or cancelled
     (35,410      14.98        
  
 
 
          
Outstanding as of December 31, 2024
     645,740        12.18        3.3        3  
  
 
 
          
Vested and expected to vest as of December 31, 2024
     645,740        12.18        3.3        3  
Exercisable as of December 31, 2024
     645,740        12.18        3.3        3