| FAIR VALUE MEASUREMENT |
14. FAIR VALUE MEASUREMENT
The following tables present the fair value hierarchy
for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2022, 2023 and 2024 respectively:
SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
| RMB | |
Level
1 | | |
Level
2 | | |
Level
3 | | |
Total
Fair Value | |
| | |
December 31, 2022 | | |
| |
| RMB | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total Fair Value | |
| Assets | |
| | | |
| | | |
| | | |
| | |
| Short-term investments | |
| - | | |
| - | | |
| 412,031 | | |
| 412,031 | |
| RMB | |
Level
1 | | |
Level
2 | | |
Level
3 | | |
Total
Fair Value | |
| | |
December 31, 2023 | | |
| |
| RMB | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total Fair Value | |
| Assets | |
| | | |
| | | |
| | | |
| | |
| Short-term investments | |
| - | | |
| - | | |
| 422,559 | | |
| 422,559 | |
| RMB | |
Level
1 | | |
Level
2 | | |
Level
3 | | |
Total
Fair Value | |
| | |
December 31, 2024 | | |
| |
| RMB | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total Fair Value | |
| Assets | |
| | | |
| | | |
| | | |
| | |
| Short-term investments | |
| - | | |
| - | | |
| 291,280 | | |
| 291,280 | |
The table below reflects the reconciliation from the
opening balances to the closing balances for recurring fair value measurements of the fair value hierarchy for the years ended December
31, 2022, 2023 and 2024:
SCHEDULE
OF RECONCILIATION FOR RECURRING FAIR VALUE MEASUREMENTS OF FAIR VALUE
| |
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2022 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
Gain or Losses |
|
|
|
|
| RMB |
|
January 1, 2022 |
|
|
Purchase/
Issue |
|
|
Sell / Exercise |
|
|
Included
in earnings |
|
|
Included in
other
comprehensive
loss |
|
|
Foreign
currency
translation
adjustment included in
other
comprehensive
loss |
|
|
December 31, 2022 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short term investments |
|
|
127,514 |
|
|
|
357,142 |
|
|
|
70,306 |
|
|
|
- |
|
|
|
- |
|
|
|
(2,320 |
) |
|
|
412,031 |
|
| |
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2023 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
Gain or Losses |
|
|
|
|
| RMB |
|
January 1, 2023 |
|
|
Purchase/
Issue |
|
|
Sell / Exercise |
|
|
Included
in earnings |
|
|
Included in
other
comprehensive
loss |
|
|
Foreign
currency
translation
adjustment included in
other
comprehensive
loss |
|
|
December 31, 2023 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short term investments |
|
|
412,031 |
|
|
|
28,187 |
|
|
|
24,663 |
|
|
|
563 |
|
|
|
- |
|
|
|
6,441 |
|
|
|
422,559 |
|
| |
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2024 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
Gain or Losses |
|
|
|
|
| RMB |
|
January 1, 2024 |
|
|
Purchase/
Issue |
|
|
Sell / Exercise |
|
|
Included
in earnings |
|
|
Included in
other
comprehensive
loss |
|
|
Foreign
currency
translation
adjustment included in
other
comprehensive
loss |
|
|
December 31, 2024 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short term investments |
|
|
422,559 |
|
|
|
222,036 |
|
|
|
357,825 |
|
|
|
11,859 |
|
|
|
- |
|
|
|
(7,349) |
|
|
|
291,280 |
|
|