| Intangible assets, net |
| | | | | | | As of December 31, | | | 2024 | | 2025 | | | RMB | | RMB | Gross carrying amount | | | | | Agency contract rights (1) | | 142,720,126 | | 142,720,126 | Licensed copyrights of content | | 66,981,132 | | 66,981,132 | Software | | 23,854,614 | | 26,176,248 | License for Online Transmission of Audio/Video Programs | | 7,988,748 | | 7,988,748 | Others | | 6,058,116 | | 6,046,614 | Total of gross carrying amount | | 247,602,736 | | 249,912,868 | Less: accumulated amortization | | | | | Agency contract rights | | (58,698,113) | | (71,339,623) | Licensed copyrights of content | | (40,566,038) | | (53,773,585) | Software | | (20,720,014) | | (24,082,162) | Others | | (5,022,234) | | (5,458,348) | Total of accumulated amortization | | (125,006,399) | | (154,653,718) | Less: impairment loss (2) | | (61,679,245) | | (61,679,245) | Intangible assets, net | | 60,917,092 | | 33,579,905 |
| (1) | The agency contract rights represent prepayment of cooperation costs to top streamers which includes amount of RMB54,716,981 acquired during the year ended December 31, 2024 with weighted average amortization period of 2.4 years. None was acquired in the year ended December 31, 2025. |
| (2) | In view of fiercer market competition and expected decline in revenue related to certain streamers, the management of the Company considered there was impairment indicator in respect of certain agency contract rights during 2024. Accordingly, the management of the Company performed impairment assessment of certain agency contract rights and consequently determined an impairment loss of RMB61,679,245 based on discounted cashflow. |
Amortization expenses were RMB90,827,064, RMB56,322,409 and RMB29,650,099 for the years ended December 31, 2023, 2024 and 2025 respectively. The Group expects to record amortization expenses in the future 5 years and thereafter as below: | | | | | Future | | | amortization | | | expenses | | | RMB | 2026 | | 22,179,319 | 2027 | | 3,069,506 | 2028 | | 223,526 | 2029 | | 29,446 | 2030 and thereafter | | 89,360 | Total | | 25,591,157 |
The weighted average amortization periods of intangible assets as of December 31, 2024 and 2025 are as below: | | | | | | | As of December 31, | | | 2024 | | 2025 | Agency contract rights | | 3.2 years | | 3.2 years | Software | | 4.0 years | | 3.7 years | Others | | 3.2 years | | 4.9 years |
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