| Company Financial Statements |
29. Company Financial Statements (Parent Company Only) The Company performed a test on the restricted net assets of its consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the Company only (parent company only). The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general-purpose financial statements of the reporting entity and should be read in conjunction with notes to consolidated financial statements of the Company. As of December 31, 2024 and 2025, except for the investment commitment disclosed in Note 27(a), the Company did not have any significant capital and other commitments, or guarantees.
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ASSETS |
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Current assets |
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Cash and cash equivalents |
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1,651,285 |
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1,167,864 |
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Short-term deposits |
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11,938,371 |
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9,898,566 |
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Long-term deposits, current portion |
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— |
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574,758 |
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Prepayments and other current assets |
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15,502 |
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2,859 |
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Total current assets |
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13,605,158 |
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11,644,047 |
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Investments in subsidiaries and VIEs |
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17,114,366 |
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18,141,770 |
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Long-term investments |
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724,548 |
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864,857 |
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17,838,914 |
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19,006,627 |
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Total assets |
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31,444,072 |
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30,650,674 |
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Condensed Balance Sheets (continued) |
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LIABILITIES |
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Current liabilities |
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Accruals and other liabilities |
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1,344 |
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1,075 |
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Derivative liability |
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— |
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281,009 |
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Total current liabilities |
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1,344 |
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282,084 |
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Non-current liabilities |
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Derivative liability |
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167,940 |
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— |
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Total non-current liabilities |
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167,940 |
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— |
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Total liabilities |
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169,284 |
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282,084 |
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SHAREHOLDERS’ EQUITY |
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Class A Ordinary shares |
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104 |
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105 |
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Class B Ordinary shares |
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21 |
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21 |
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Additional paid-in capital |
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70,671,685 |
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71,236,011 |
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Statutory and other reserves |
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95,019 |
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137,720 |
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Accumulated deficit |
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(41,585,549 |
) |
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(42,767,710 |
) |
Accumulated other comprehensive income |
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2,093,508 |
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1,762,443 |
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Total shareholders’ equity |
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31,274,788 |
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30,368,590 |
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Total liabilities and shareholders’ equity |
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31,444,072 |
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30,650,674 |
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Condensed Statements of Comprehensive Loss |
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For the Year Ended December 31, |
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Operating expenses |
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Selling, general and administrative expenses |
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(28,511 |
) |
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(16,706 |
) |
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(15,401 |
) |
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Total operating expenses |
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(28,511 |
) |
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(16,706 |
) |
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(15,401 |
) |
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Fair value gain (loss) on derivative liability relating to the contingent consideration |
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29,339 |
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234,245 |
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(117,305 |
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Gain (Loss) from operations |
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828 |
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217,539 |
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(132,706 |
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Interest income |
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601,475 |
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783,148 |
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526,262 |
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Equity in loss of subsidiaries and VIEs |
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(10,165,831 |
) |
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(6,376,372 |
) |
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(2,479,729 |
) |
Other non-operating income, net |
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17,718 |
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88,592 |
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21,169 |
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Exchange (loss) gain from foreign currency transactions |
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(473,467 |
) |
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(455,608 |
) |
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849,932 |
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Investment (loss) gain on long-term investments |
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(821 |
) |
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(18,489 |
) |
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44,684 |
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Fair value loss on derivative assets or derivative liabilities |
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(410,417 |
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— |
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— |
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Loss before income tax expenses and share of results of equity method investees |
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(10,430,515 |
) |
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(5,761,190 |
) |
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(1,170,388 |
) |
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Income tax expenses |
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— |
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(5 |
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— |
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Share of results of equity method investees |
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54,740 |
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(29,069 |
) |
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30,928 |
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Net loss |
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(10,375,775 |
) |
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(5,790,264 |
) |
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(1,139,460 |
) |
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Net loss attributable to ordinary shareholders of XPeng Inc. |
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(10,375,775 |
) |
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(5,790,264 |
) |
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(1,139,460 |
) |
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Net loss |
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(10,375,775 |
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(5,790,264 |
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(1,139,460 |
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Other comprehensive income (loss) |
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Foreign currency translation adjustment, net of tax |
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286,614 |
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262,870 |
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(331,065 |
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Total comprehensive loss attributable to XPeng Inc. |
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(10,089,161 |
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(5,527,394 |
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(1,470,525 |
) |
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Comprehensive loss attributable to ordinary shareholders of XPeng Inc. |
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(10,089,161 |
) |
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(5,527,394 |
) |
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(1,470,525 |
) |
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Condensed Statements of Cash Flows |
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For the Year Ended December 31, |
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| Cash flows from operating activities |
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520,066 |
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683,003 |
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602,382 |
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| Cash flows from investing activities |
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| Maturity (placement) of term deposits |
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4,164,149 |
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(1,961,056 |
) |
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1,140,950 |
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| Investment in equity investees |
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(5,306,987 |
) |
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(2,257,875 |
) |
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(2,215,607 |
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| Cash paid for long-term investments |
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(188,681 |
) |
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(144,192 |
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(103,434 |
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| Disposal of long-term investments |
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— |
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— |
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28,571 |
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| Net cash used in investing activities |
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(1,331,519 |
) |
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(4,363,123 |
) |
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(1,149,520 |
) |
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| Cash flows from financing activities |
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| Proceeds from issuance of ordinary shares to Volkswagen |
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5,019,599 |
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— |
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— |
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| Net cash provided by financing activities |
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5,019,599 |
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— |
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— |
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| Effects of exchange rate changes on cash, cash equivalents and restricted cash |
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27,795 |
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143,808 |
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63,717 |
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| Net increase (decrease) in cash, cash equivalents and restricted cash |
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4,235,941 |
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(3,536,312 |
) |
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(483,421 |
) |
| Cash, cash equivalents and restricted cash at beginning of the year |
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951,656 |
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5,187,597 |
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1,651,285 |
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| Cash, cash equivalents and restricted cash at end of the year |
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5,187,597 |
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1,651,285 |
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1,167,864 |
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(i) |
Basis of presentation | The Company’s accounting policies are the same as the Group’s accounting policies with the exception of the accounting for the investments in subsidiaries and VIEs. For the Company only condensed financial information, the Company records its investments in subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the Condensed Balance Sheets as “Investments in subsidiaries and VIEs” and shares of the subsidiaries and VIEs’ loss are presented as “Equity in loss of subsidiaries and VIEs” on the Condensed Statements of Comprehensive Loss. The parent company only condensed financial information should be read in conjunction with the Group’s consolidated financial statements.
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