05-09-2018, 04:11 AM
Net cash used in operating activities from continuing operations was RMB3.8 billion during the quarter, largely due to an RMB5.3 billion decrease in advance from customers for their marketplace purchases and payable to merchants related to a complex settlement process change that the company has been conducting since the second half of last year to settle the marketplace transactions directly through third party payment companies, as required by the regulators. The operating cash flow was also impacted by the timing of supplier payments as accounts payable decreased as of March 31, 2018 from the prior year-end. Such timing difference may vary from time to time.