| Leases |
(11) Leases
The Group’s lease for
office space include only fixed rental payments with no variable lease payment terms. As of December 31, 2023 and 2024, there were no
leases that have not yet commenced.
The following represents
the aggregate ROU assets and related lease liabilities as of December 31, 2023 and 2024:
| | |
As of December 31, | |
| | |
2023 | | |
2024 | |
| | |
RMB | | |
RMB | |
| Operating lease ROU assets | |
| 136,056 | | |
| 74,882 | |
| Current operating lease liabilities | |
| 57,164 | | |
| 36,038 | |
| Non-current operating lease liabilities | |
| 71,311 | | |
| 35,472 | |
| Total operating leased liabilities | |
| 128,475 | | |
| 71,510 | |
The weighted average lease
term and discount rate as of December 31, 2023 and 2024 were as follows:
| | | As of December 31, | | | | | 2023 | | | 2024 | | | Weighted average lease term: | | | | | | | | Operating leases | | | 2.83 years | | | | 2.60 years | | | Weighted average discount rate: | | | | | | | | | | Operating leases | | | 3.89 | % | | | 2.87 | % | The components of lease expenses
for the years ended December 31, 2023 and 2024 were as follows:
| | |
As of December 31, | |
| | |
2023 | | |
2024 | |
| | |
RMB | | |
RMB | |
| Operating lease expense | |
| 74,819 | | |
| 67,224 | |
| Short term lease expense | |
| 7,748 | | |
| 5,081 | |
| Total | |
| 82,567 | | |
| 72,305 | |
Supplemental cash flow information
related to leases for the years ended December 31, 2023 and 2024 were as follows:
| | |
As of December 31, | |
| | |
2023 | | |
2024 | |
| | |
RMB | | |
RMB | |
| Cash paid for amounts included in the measurement of lease liabilities: | |
| | |
| |
| Operating cash flows for operating leases | |
| 72,223 | | |
| 59,317 | |
| Supplemental noncash information: | |
| | | |
| | |
| Right-of-use assets obtained in exchange for lease obligations net of decrease in right-of-use assets for early determinations | |
| 57,233 | | |
| (1,872 | ) |
Maturities of lease liabilities
at December 31, 2024:
| | |
Minimum Lease
Payment | |
| | |
RMB | |
| Year ending December 31: | |
| |
| 2025 | |
| 37,665 | |
| 2026 | |
| 23,370 | |
| 2027 | |
| 8,300 | |
| 2028 | |
| 3,334 | |
| 2029 | |
| 1,390 | |
| Thereafter | |
| 932 | |
| Total remaining undiscounted lease payments | |
| 74,991 | |
| Less: Interest | |
| 3,481 | |
| Total present value of lease liabilities | |
| 71,510 | |
| Less: Current operating lease liabilities | |
| 36,038 | |
| Non-current operating lease liabilities | |
| 35,472 | |
|