31 . Segment information Segment revenue and results In the prior years, the Group has identified two major business segments, Vip.com segment and internet finance. Due to operational changes, the Group has determined it has four operating segments in the current year. Vip.com and Shan Shan Outlets have been identified as reportable segments while internet finance and offline shop operating segments were aggregated as others. Given this change in the composition of the Groups reportable segments, prior year segment information was restated to reflect the current reporting structure for the segments. The table below provides a summary of the Groups operating segment results for the years ended December 31, 2017, 2018 and 2019: Year ended December 31, 2017 2018 2019 RMB RMB RMB Net revenues Vip.com 72,875,234 84,159,609 91,435,282 Shan Shan Outlets   245,817 Others 249,726 753,752 2,638,702 Inter-segment revenues (Note a) (212,647 ) (389,413 ) (1,325,383 ) Total net revenues 72,912,313 84,523,948 92,994,418 Income (loss) from operations Vip.com 4,063,238 3,353,658 5,267,814 Shan Shan Outlets   6,255 Others (366,025 ) (215,459 ) 227,719 Unallocated expenses (Note b) (1,006,767 ) (717,086 ) (728,414 ) Total income from operations 2,690,446 2,421,113 4,773,374 Total other (expenses) income (149,593 ) 325,962 169,431 Income before income taxes and share of loss of equity - method investees 2,540,853 2,747,075 4,942,805 Depreciation of property and equipment, net (included in the measurement of segment profit or loss): Year ended December 31, 2017 2018 2019 RMB RMB RMB Total depreciation of property and equipment, net Vip.com 714,656 715,087 771,049 Shan Shan Outlets   22,551 Others 6,184 55,203 36,768 720,840 770,290 830,368 Note: (a) Inter-segment revenues mainly consist of payment processing, financing services provided by the internet finance business to Vip.com, promotion services provided by Vip.com to internet finance business and internal procurement between offline shops and Vip.com. (b) Unallocated expenses include share-based compensation and amortization of intangible assets resulting from assets and business acquisitions, which are not allocated to segments. Interest income and expenses (included in the measurement of segment profit or loss): Year ended December 31, 2017 2018 2019 RMB RMB RMB Interest income Vip.com 192,052 232,494 167,550 Shan Shan Outlets   11,746 Others 4,252 36,946 54,765 Inter-segment interest income (95,179 ) (26,568 ) (17,034 ) 101,125 242,872 217,027 Interest expense Vip.com (55,821 ) (103,504 ) (42,424 ) Shan Shan Outlets   (8,989 ) Others (121,793 ) (82,808 ) (51,625 ) Inter-segment interest income 95,179 26,568 17,034 (82,435 ) (159,744 ) (86,004 ) Year ended December 31, 2017 2018 2019 RMB RMB RMB Net income of investments accounted under the equity method Vip.com (22,280 ) (46,999 ) (25,590 ) Shan Shan Outlets   52,772 (22,280 ) (46,999 ) 27,182 The following assets information is reviewed by the CODM: Year ended December 31, 2018 2019 RMB RMB Total assets Vip.com 34,867,619 37,727,525 Shan Shan Outlets  5,732,260 Others 8,695,044 5,122,893 43,562,663 48,582,678 Investments in equity - method investees Vip.com 667,427 737,806 Shan Shan Outlets  2,375,146 667,427 3,112,952 Total expenditure for additions of long-lived assets Vip.com 3,556,067 3,260,978 Shan Shan Outlets  641,722 Others 37,893 374,973 3,593,960 4,277,673 Other segment information Product revenues relate to sales of apparel, shoes and bags and other products. Other revenues relate to revenues from product promotion and online advertising, and commission fees charged to third-party merchants which the Group provides platform access for sales of their product, and revenues from logistic and warehouse services provided to vendors of the Group. Year ended December 31, 2017 2018 2019 RMB RMB RMB Product revenues Apparel 24,642,418 30,446,797 33,575,532 Shoes and bags 8,340,015 8,442,178 9,045,520 Cosmetics 10,607,267 11,700,310 14,645,878 Sportswear and sporting goods 4,747,077 5,699,740 7,333,523 Home goods and other lifestyle products 9,875,682 9,808,677 8,306,962 Toys, kids and baby 6,978,246 8,013,615 10,096,808 Other goods 5,980,948 7,398,958 5,717,088 71,171,653 81,510,275 88,721,311 Other revenues 1,740,660 3,013,673 4,273,107 Total net revenues 72,912,313 84,523,948 92,994,418 Geographic information Substantially all revenues and long-lived assets of Group are derived from and located in the PRC.