Related Party Transactions (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Related Party Transactions [Abstract] |
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| Schedule of Principal Related Parties |
The following table sets forth the principal
related parties of the Group and their respective relationships with the Group as of December 31, 2023 and December 31, 2024:
Names of related parties
(in English) | | Relationship with the Company | | | | | Xiamen Yinshan Longchang Investment Partnership
(Limited Partnership) | | Shareholder of the Company | | Cheng’s Investment Group Co., LTD. (Hainan) | | Shareholder of the Company | | Tianjiu Shared Intelligent Enterprise Service | | Shareholder of the Company | | Zhang Andong | | BoD Chairman and General Manager of Lianzhang Menhu | Xiamen Yiju Tianxia Investment Partnership
(Limited Partnership) | | Shareholder of the Company | | Xiamen Qiushi Intelligent Network Equipment Co., LTD | | 80% owned by Zhang Andong | | Fujian Qiushi Intelligent Co., LTD | | Share key management team | | Xiamen Qiushi Intelligent Network Technology Co., LTD | | Share key management team | | Zhang Hongwei | | Brother in law of Zhang Andong. | | Xiamen Rongguang Information Technology Co., Ltd. | | 95% owned by Zhang Hongwei | | Fujian Henduoka Network Technology Co., Ltd. | | 95% owned by Xiamen Rongguang Information Technology Co., Ltd. | | Xiamen Xueyoubang Network Technology Co. | | 5% hold by Zhang Hongwei | | Xiamen Qiushi intelligence software co., LTD | | 80% owned by Zhang Andong | Xiamen Dongling Weiye investment partnership
(limited partnership) | | Shareholder of the Company | | Xiamen Zhanghui investment co., LTD | | Shareholder of Lianzhang New Community Construction and Development (Jiangsu) Co. | | Zhang Runzhe | | Chief Executive Officer of LZ Technology | | Bengbu Yigong Digital Technology Co., Ltd. | | Shareholder of the Company |
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| Schedule of Collections from Related Parties |
The Group entered into the following
transactions with related parties: The following table sets forth the major related parties and the Group’s transactions with
them for the years ended December 31, 2022, 2023, and 2024:
| | |
For the year ended December 31 | |
| Related Party | |
2022 (RMB) | | |
2023 (RMB) | | |
2024 (RMB) | |
| Xiamen Qiushi Intelligent Network Technology Co., Ltd. | |
| 20,647 | | |
| 83 | | |
| 231 | |
| Fujian Qiushi Intelligent Co., Ltd. | |
| – | | |
| 80,160 | | |
| 30,005 | |
| Xiamen Qiushi Intelligent Network Equipment Co., Ltd. | |
| 215 | | |
| – | | |
| – | |
| Xiamen Yingshan Longchang Investment Partnership (L.P.) | |
| 3,980 | | |
| 3 | | |
| – | |
| Xiamen Xueyoubang Network Technology Co., Ltd. | |
| – | | |
| – | | |
| 7,520 | |
| Liu Jun | |
| 324 | | |
| – | | |
| – | |
| Cheng’s Investment Group Co., Ltd. (Hainan) | |
| – | | |
| 5,800 | | |
| 5,000 | |
| Bengbu Yigong Digital Technology Co., Ltd. | |
| - | | |
| - | | |
| 1,453 | |
| Fujian Henduoka Network Technology Co., Ltd. | |
| 660 | | |
| 5,468 | | |
| – | |
| Total | |
| 25,826 | | |
| 91,514 | | |
| 44,209 | |
Loans from Related Parties
| | |
For the year ended December 31 | |
| Related Party | |
2022 (RMB) | | |
2023 (RMB) | | |
2024 (RMB) | |
| Fujian Qiushi Intelligent Co., Ltd. | |
| 8,229 | | |
| 8,480 | | |
| – | |
| Xiamen Qiushi Intelligent Network Technology Co., Ltd. | |
| 5,682 | | |
| 1,450 | | |
| – | |
| Xiamen Qiushi Intelligent Network Equipment Co., Ltd. | |
| 4,937 | | |
| 61 | | |
| 25 | |
| Xiamen Dongling Weiye Investment Partnership (L.P.) | |
| – | | |
| 8,400 | | |
| – | |
| Xiamen Xueyoubang Network Technology Co., Ltd. | |
| – | | |
| 4,000 | | |
| | |
| Zhang Andong | |
| – | | |
| – | | |
| 64 | |
| Xiamen Qiushi Intelligent Software Co., Ltd. | |
| – | | |
| 500 | | |
| – | |
| Liu Jun | |
| 26 | | |
| – | | |
| – | |
| Total | |
| 18,874 | | |
| 22,891 | | |
| 89 | |
Repayment of Loans to Related Parties
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| | |
| | |
| | |
| |
| Fujian Qiushi Intelligent Co., Ltd. | |
| 31,858 | | |
| 8,480 | | |
| – | |
| Xiamen Qiushi Intelligent Network Technology Co., Ltd. | |
| 7,140 | | |
| 1,620 | | |
| 1,975 | |
| Xiamen Qiushi Intelligent Network Equipment Co., Ltd. | |
| 5,676 | | |
| – | | |
| 33 | |
| Xiamen Qiushi Intelligent Software Co., Ltd. | |
| – | | |
| 500 | | |
| – | |
| Xiamen Dongling Weiye Investment Partnership (L.P.) | |
| – | | |
| 8,400 | | |
| – | |
| Xiamen Xueyoubang Network Technology Co., Ltd. | |
| – | | |
| 4,000 | | |
| – | |
| Xiamen Yingshan Longchang Investment Partnership (L.P.) | |
| 4,900 | | |
| – | | |
| – | |
| Liu Jun | |
| 1,217 | | |
| 27 | | |
| – | |
| Total | |
| 50,791 | | |
| 23,027 | | |
| 2,008 | |
Loans to Related Parties
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Qiushi Intelligent Network Technology Co., Ltd. | |
| 483 | | |
| 314 | | |
| 2,777 | |
| Fujian Qiushi Intelligent Co., Ltd. | |
| – | | |
| 95,305 | | |
| 30,613 | |
| Xiamen Xueyoubang Network Technology Co., Ltd. | |
| – | | |
| 6,240 | | |
| 6,718 | |
| Chengshi Investment Group Co., Ltd. (Hainan) | |
| – | | |
| 10,800 | | |
| – | |
| Bengbu Yigong Digital Technology Co., Ltd. | |
| – | | |
| – | | |
| 2,024 | |
| Xiamen Yingshan Longchang Investment Partnership (L.P.) | |
| 3,983 | | |
| – | | |
| – | |
| Liu Jun | |
| 403 | | |
| – | | |
| – | |
| Fujian Henduoka Network Technology Co., Ltd. | |
| 821 | | |
| 3,870 | | |
| – | |
| Total | |
| 5,690 | | |
| 116,529 | | |
| 42,132 | |
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| Schedule of Amounts Due to Related Parties |
Equipment Purchases
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Fujian Qiushi Intelligent Co., Ltd. | |
| 894 | | |
| – | | |
| – | |
| Xiamen Qiushi Intelligent Network Technology Co., Ltd. | |
| 120 | | |
| 3,049 | | |
| 374 | |
| Total | |
| 1,014 | | |
| 3,049 | | |
| 374 | |
Subcontracting Costs
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Xueyoubang Network Technology Co., Ltd. | |
| 43,240 | | |
| 28,200 | | |
| – | |
Service Fees Paid to Related Parties
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Tianjiu Shared Intelligent Enterprise Services Co., Ltd. | |
| 70 | | |
| – | | |
| – | |
| Fujian Henduoka Network Technology Co., Ltd. | |
| – | | |
| 256 | | |
| 32 | |
| Bengbu Yigong Digital Technology Co., Ltd. | |
| – | | |
| – | | |
| 926 | |
| Total | |
| 70 | | |
| 256 | | |
| 958 | |
Rental, Utilities and Cleaning Fees
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Qiushi Intelligent Network Equipment Co., Ltd. | |
| 523 | | |
| 743 | | |
| 825 | |
Transfer of Long-term Investments
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Yingshan Longchang Investment Partnership (L.P.) | |
| 1,726 | | |
| – | | |
| – | |
Share Transfer
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Rongguang Information Technology Co., Ltd. | |
| 150 | | |
| – | | |
| – | |
| Zhang Hongwei | |
| 8 | | |
| – | | |
| – | |
| Total | |
| 158 | | |
| – | | |
| – | |
Disposal gain
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Income from disposal of Fujian Henduoka Network Technology Co., Ltd. | |
| 4,318 | | |
| – | | |
| – | |
Payment on Behalf for Equity Transfer
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Zhanghui investment co., LTD | |
| - | | |
| – | | |
| (4,588 | ) |
Payment on Behalf for Equity Transfer
| Related Party | |
2022 | | |
2023 | | |
2024 | |
| Xiamen Zhanghui investment co., LTD | |
| - | | |
| – | | |
| 12,865 | |
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| Schedule of Amounts Due to Related Parties |
Payables to Related Parties (Net)
| | | | | As of December 31, | | | Related Party | | Nature of Transaction | | 2023
(RMB) | | | 2024
(RMB) | | | Xiamen Qiushi Intelligent Network Technology Co., Ltd. | | Purchase of goods and services | | | (741 | ) | | | (1,089 | ) | | Xiamen Xueyoubang Network Technology Co., Ltd. | | Purchase of goods and services | | | – | | | | – | | | Total Net Payables | | | | | (741 | ) | | | (1,089 | ) |
Amounts Due from Related Parties
| | | | | As of December 31, | | | Related Party | | Nature of Transaction | | 2023
(RMB) | | | 2024
(RMB) | | | Xiamen Qiushi Intelligent Network Equipment Co., Ltd. | | Purchase of goods and services | | | 231 | | | | 129 | | | Xiamen Xueyoubang Network Technology Co., Ltd. | | Loans to related party | | | 6,240 | | | | 5,438 | | | Xiamen Qiushi Intelligent Network Technology Co., Ltd. | | Loans to related party | | | 231 | | | | 2,777 | | | Fujian Qiushi Intelligent Co., Ltd. | | Loans to related party | | | 15,145 | | | | 15,753 | | | Fujian Henduoka Network Technology Co., Ltd. | | Loans to related party | | | 1,194 | | | | 1,194 | | | Fujian Henduoka Network Technology Co., Ltd. | | Fee collection on behalf of the Company | | | – | | | | 505 | | | Chengshi Investment Group Co., Ltd. (Hainan) | | Loans to related party | | | 5,000 | | | | – | | | Xiamen Zhanghui investment co., LTD | | Share Transfer | | | – | | | | 3,152 | | | Bengbu Yigong Digital Technology Co., Ltd. | | Service and commodity purchase from related parties | | | – | | | | 445 | | | Bengbu Yigong Digital Technology Co., Ltd. | | Loan to related parties | | | – | | | | 571 | | | Total Due from Related Parties | | | | | 28,041 | | | | 29,964 | | Due to related parties consisted of the following
for the periods indicated:
| | | | | As of December 31, | | | Related Party | | Nature of Transaction | | 2023
(RMB) | | | 2024
(RMB) | | | Tianjiu Shared Intelligent Enterprise Service | | Service and commodity purchase from related parties | | | (48 | ) | | | (48 | ) | | Xiamen Qiushi Intelligent Network Technology Co., LTD | | Loan from related parties | | | (1,975 | ) | | | – | | | Xiamen Qiushi Intelligent Network Equipment Co., LTD | | Loan from related parties | | | (93 | ) | | | (85 | ) | | Fujian Qiushi Intelligent Technology Co., Ltd. | | Expenses paid on behalf of the Company | | | – | | | | (1 | ) | | Zhang Andong | | Expenses paid on behalf of the Company | | | (448 | ) | | | – | | | Zhang Andong | | Loan from related parties | | | – | | | | (64 | ) | | Fujian Henduoka Network Technology Co., Ltd. | | Service and commodity purchase from related parties | | | – | | | | (32 | ) | | Xiamen Zhanghui investment co., LTD | | Share Transfer | | | (8,277 | ) | | | – | | | Total Net | | | | | (10,841 | ) | | | (230 | ) |
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