Concentrations of Credit Risk

12 Months Ended

Dec. 31, 2024

Concentrations of Credit Risk [Abstract]

Concentrations of Credit Risk

(22) Concentrations of Credit Risk

Concentration risks

Customers accounting for 10% or more of total net revenues excluding estimated renewal commissions are as follows:

		Year ended December 31,
		2022				% of sales				2023				% of sales				2024				% of sales
		RMB								RMB								RMB
Sinatay Life Insurance Co., Ltd. (“Sinatay”)			497,143				19.6	%			438,026				15.3	%			177,868				9.8
Aeon Life Insurance Co., Ltd. (“Aeon”).			*				*				295,217				10.3	%			*				*
Ping An Property & Casualty Insurance Company of China, Ltd. （“Ping An”)			*				*				*				*				175,205				9.7
Subtotal			497,143				19.6	%			733,243				25.6	%			353,073				19.5

*	represented less than 10% of total net revenues for the year.

Customers which accounted for 10% or more of gross accounts receivable excluding estimated renewal commissions are as follows:

		As of December 31,
		2023				%				2024				%
		RMB								RMB
Sinatay			57,119				14.7	%			29,567				13.5	%
Greatwall Life Insurance Co., Ltd			63,455				16.3	%			*				*
Fanhua RONS			*				*				29,063				13.3	%
Subtotal			120,574				31.0	%			58,630				26.8	%

*

represented less than 10% of accounts receivable as of the year end.

The Group performs ongoing credit evaluations of its customers and generally does not require collateral on accounts receivable.

The Group places its cash and cash equivalents and short-term investments with financial institutions with low credit risk.