NetEase, Inc. (NTES) [Rocket]

In millions of CNY, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	20-F	20-F	20-F	20-F	20-F	20-F	20-F	20-F
Cash flows from operating activities:
Net income	16,976.2	12,330.2	21,431.1	6,477.4	10,849.1	11,792.9	6,836.9	4,795.7
Net income from discontinued operations			-7,962.5	2,138.7	834.5
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	3,275.7	3,457.8	2,613.8	2,060.1	791.8	327.5	182.5	174.5
Fair value change of equity security investments and other financial instruments	-471.9	-720.6	-751.7	248.2
Impairment losses on investments and other intangible assets	100.4	58.4	177.6
Share-based compensation cost	3,041.5	2,663.5	2,404.1	2,471.7	1,984.9	990.1	684.5	349.3
(Reversal of)/Allowance for doubtful accounts/expected credit losses	265.9	40.6	-28.6
Losses on disposal of property, equipment and software	54.1	6.5	5.1	-1.4	5.1	1.3	5.9	1.5
Unrealized exchange (gains)/losses	488.6	3,102.5	-10.0	32.0	440.5	-166.6	-116.8	18.8
Gains on disposal of long-term investments, business and subsidiaries	-186.9	-27.1	-98.5
Deferred income taxes	407.9	88.2	150.6	-70.6	-438.3	66.7	-147.3	-117.3
Share of results on equity method investees and revaluation results from previously held equity interest	-1,573.1	-302.6	-4.3
Fair value changes of short-term investments	-639.8	-580.7	-657.6	-463.5	-389.8	-304.6	-140.1
Changes in operating assets and liabilities:
Accounts receivable	-1,186.6	-530.4	-11.3	-612.7	596.1	-1,646.9	-1,744.1	-474.4
Inventories	-343.6	29.7	415.1	-81.4	-754.9	-760.4	-789.5	-8.2
Prepayments and other assets	640.3	-13.6	-1,488.6	-719.0	201.9	-1,064.0	-1,249.6	-284.2
Accounts payable	-155.3	-86.4	13.2	112.4	116.9	604.1	243.1	190.5
Salary and welfare payables	505.3	528.9	146.1	725.5	649.5	570.5	386.4	157.4
Taxes payable	255.1	1,126.6	-133.8	685.0	-170.1	986.4	401.9	259.8
Deferred revenue	1,351.3	2,342.9	883.7	1,757.9	-1,375.8	2,879.5
Accrued liabilities and other payables	2,121.4	1,373.6	-182.6	-196.1	1,401.2	1,071.2	746.8	310.5
Net cash provided by continuing operating activities	24,926.7	24,888.2	16,911.0	14,659.8	14,864.5

Net cash provided by discontinued operating activities			305.5	-1,244.0	-2,975.2
Net cash provided by operating activities	24,926.7	24,888.2	17,216.5	13,415.9	11,889.2	15,488.3	8,076.9

Cash flows from investing activities:
Purchase of property, equipment and software	-1,601.8	-1,055.6	-1,209.5	-2,169.4	-1,654.5	-1,135.5	-866.3	-537.4
Proceeds from sale of property, equipment and software	71.5	17.5	60.6	6.7	4.4	2.1	1.3	1.5
Purchase of intangible assets, content and licensed copyrights	-1,508.2	-2,234.9	-2,119.3	-1,741.2	-791.6	-4.4	-0.3	-14.0
Net change of short-term investments with terms of three months or less	3,694.9	-1,655.9	-1,023.2	-1,172.3	-895.3	-3,704.3	-231.3	247.4
Purchase of short-term investments	-15,285.0	-19,905.0	-22,370.0	-13,393.0	-12,491.0	-12,439.0	-5,687.0	-2,358.1
Proceeds from maturities of short-term investments	13,235.8	24,126.2	20,225.3	13,071.4	15,615.5	9,879.3	3,103.5	1,017.6
Investment in equity method investees	-1,124.4	-345.7	-450.7	-272.5	-235.8	-364.5
Investment in other equity investments and acquisition of subsidiaries	-5,417.1	-2,062.0	-1,111.5
Proceeds from disposal of investment in equity investees, businesses and subsidiaries	1,115.5	722.1	406.7		350.4	249.6
Placement/rollover of time deposits	-81,298.1	-91,518.8	-77,083.4	-41,553.4	-33,984.1	-20,367.4
Proceeds from maturity of time deposits	81,307.3	64,880.3	54,381.6	39,924.5	22,429.6	16,377.4	22,582.5	19,905.0
Change in other long-term assets	-268.7	-160.7	-42.3	-133.0	-100.6	-173.4
Amounts received from disposed businesses			9,031.1	-1,889.6	-3,296.4
Net cash used in continuing investing activities	-7,078.3	-29,192.4	-21,304.5	-14,999.7	-15,956.5

Net cash used in discontinued investing activities			-832.3	1,430.2	3,101.2
Net cash used in investing activities	-7,078.3	-29,192.4	-22,136.7	-13,569.5	-12,855.3	-11,861.4	-2,536.5

Cash flows from financing activities:
Net changes from short-term loan with terms of three months or less	-3,099.8	2,904.6	2,241.4	6,175.4	3,095.5	1,494.8
Proceeds of short-term and long-term loan	4,447.6	1,136.5	730.1
Repayment of short-term loan	-3,099.8	2,904.6	2,241.4	6,175.4	3,095.5	1,494.8
Dividends paid to shareholders	-3,508.4	-4,280.5	-8,840.6	-1,440.2	-3,257.6	-2,546.2	-1,468.0
Net amounts received from/(paid for) NetEase's issuance of shares in Hong Kong	-13.8	21,911.8
Repurchase of redeemable noncontrolling interests		-462.7		-780.0
Proceeds from issuance of redeemable noncontrolling interest shareholders, net of issuance cost			5,242.2	5,294.2	600.0
Capital injection from noncontrolling interest shareholders	2,870.1	194.3	1,698.8	15.5	311.5	0.0	15.0	0.1
Dividends paid to noncontrolling interest shareholders	-731.3
Cash refund received from/(paid for) repurchase of NetEase's ADSs/purchase of subsidiaries' ADSs and shares	-12,910.5	-11,491.0	10.6
Net cash provided by/(used in) financing activities	-12,585.6	9,913.1	1,082.5	1,587.4	-1,302.7	-2,250.5	-1,632.7
Effect of exchange rate changes on cash, cash equivalents and restricted cash held in foreign currencies	-55.4	161.9	29.1	81.5	-12.8
Net (decrease)/increase in cash, cash equivalents and restricted cash	5,207.5	5,770.7	-3,808.7	1,515.3	-2,281.5

Supplemental disclosures of cash flow information of continuing operation:
Cash paid for income taxes, net of tax refund	3,547.3	2,046.1	3,193.8	2,003.2	2,705.8	1,097.2	1,124.3	551.3
Cash paid for interest expenses	187.6	246.1	431.4	301.8	84.7	31.2
Supplemental schedule of non-cash investing and financing activities of continuing operation:
Fixed asset purchases financed by accounts payable and accrued liabilities	698.2	337.3	304.9	351.6	293.0	260.3	216.3	80.6