v3.25.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Summary of Significant Accounting Policies [Abstract]  
Schedule of Accounts Receivable and Contract Assets, Net

Accounts receivable and contract assets, net is analyzed as follows:

 

   As of December 31, 
   2023   2024 
   RMB   RMB 
Accounts receivable   295,562    183,155 
Contract assets (See Note 2(q))   1,071,064    954,006 
Allowance for expected credit losses   (15,784)   (12,254)
Accounts receivable and contract assets, net   1,350,842    1,124,907 
Schedule of Group’s Allowance for Expected Credit Losses of Accounts Receivables

The following table summarizes the movement of the Group’s allowance for expected credit losses of accounts receivable and contract assets:

 

   2022   2023   2024 
   RMB   RMB   RMB 
Balance at the beginning of the year   28,025    15,361    15,784 
Current period provision for (reversal of) expected credit losses   (1,378)   4,036    1,394 
Write-offs   (11,286)   (3,613)   (4,924)
Balance at the end of the year   15,361    15,784    12,254 
Schedule of Property Plant and Equipment Depreciation and Amortization are Calculated Using the Straight-line Method

Property, plant and equipment are stated at cost. Depreciation are calculated using the straight-line method over the following estimated useful lives, taking into account residual value:

 

   Estimated
useful life
(Years)		   Estimated
residual
value		 
Building  20-36   0% 
Office equipment, furniture and fixtures   3-5    0%-3% 
Motor vehicles   5-10    0%-3% 
Leasehold improvements   5    0%
Schedule of Depreciation Expense Recognized in the Consolidated Statements of Income and Comprehensive Income The following table summarizes the depreciation expense recognized in the consolidated statements of income and comprehensive income:
   2022   2023   2024 
   RMB   RMB   RMB 
Operating costs   822    576    35 
Selling expenses   5,106    4,368    1,782 
General and administrative expenses   13,545    11,248    11,527 
Depreciation expense   19,473    16,192    13,344 
Schedule of Intangible Assets Estimated Useful Lives

The estimated useful lives for the Group’s intangible assets are as follows:

 

   Estimated useful life (Years)
Software  3
Non-compete agreements  5.8 - 6
Agent resources  2.8 - 3
Brokerage license  20
Schedule of Fair Value Measurements of the Group’s Assets and Liabilities that are Measured at Fair Value on a Recurring Basis in Periods Subsequent to their Initial Recognition

As of December 31, 2023 and 2024, information about inputs into the fair value measurements of the Group’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows. 

 

  

       Fair Value Measurements
at Reporting Date Using		 
Description  As of
December 31,
2023		   Quoted
Prices
in Active
Markets for
Identical
Assets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
   RMB   RMB   RMB   RMB 
Short-term investments - debt security   925,678    
—
    925,678    
—
 
Investments – equity security recorded within other current assets   96,343    96,343    
—
    
—
 
Contingent consideration   13,461    
—
    
—
    13,461 

 

       Fair Value Measurements
at Reporting Date Using		 
Description  As of
December 31,
2024		   Quoted
Prices
in Active
Markets for
Identical
Assets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
   RMB   RMB   RMB   RMB 
Short-term investments - debt security   615,461    
—
    615,461    
—
 
Investments – equity security recorded within other current assets   13,755    13,755    
—
    
—
 
Contingent consideration   17,549    
—
    
—
    17,549