10.  Lease

The Group’s leasing activities primarily consist of operating leases for offices. The Group adopted ASC 842 effective January 1, 2018. ASC 842 requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet. The Group has applied the available practical expedient to not recognize short-term leases with lease terms of one year or less on the consolidated balance sheets.

As of December 31, 2024 and 2025, the Group recorded right-of-use assets of approximately RMB7.2 million and RMB42.1 million and lease liabilities of approximately RMB19.1 million and RMB37.0 million, respectively, for operating leases as a leasee. Supplemental cash flow information related to operating leases was as follows (in thousands):

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10.  Lease (Continued)

Future lease payments under operating leases as of December 31, 2025 were as follows (in thousands):

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The weighted-average remaining lease term was 0.57 years and 1.99 years as of December 31, 2024 and 2025, respectively.

The weighted-average discount rate used to determine the operating lease liability as of December 31, 2024 and 2025 was 4.75% and 4.75%, respectively.

Operating lease expenses for the years ended December 31, 2023, 2024 and 2025 were RMB58.4million, RMB35.4 million and RMB27.2 million, respectively, which excluded expenses of short-term contracts. Short-term lease expenses for the years ended December 31, 2023, 2024 and 2025 were RMB5.8 million, RMB6.9 million and RMB2.7 million, respectively.

The right-of-use assets early terminated for the years ended December 31, 2023, 2024 and 2025 were RMB32.5 million, RMB2.3 million and RMB15.7 million, respectively. The lease liabilities early terminated for the years ended December 31, 2023, 2024 and 2025 were RMB32.4 million, RMB1.7 million and RMB15.6 million, respectively.