v3.26.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
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, 
   2024   2025 
   RMB   RMB 
Accounts receivable   96,324    67,391 
Contract assets (See Note 2(q))   954,006    748,544 
Allowance for expected credit losses   (1,186)   (2,531)
Accounts receivable and contract assets, net   1,049,144    813,404 
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:

 

    For the years ended
December 31,		  
    2023     2024     2025  
    RMB     RMB     RMB  
Balance at the beginning of the year     328       1,965       1,186  
Current period provision for expected credit losses     1,674       1,392       1,345  
Write-offs     (37 )     (2,171 )    
—
  
Balance at the end of the year     1,965       1,186       2,531  
Schedule of Estimated Useful Lives, Taking into Account Residual Value Depreciation are calculated using the straight-line method over the following estimated useful lives, taking into account residual value:
   Estimated
useful lives
(Years)		  Estimated
residual
value
Building  20-36  0%
Office equipment, furniture and fixtures  3-5  0%-3%
Motor vehicles  4-10  0%-3%
Leasehold improvements  5  0%
Schedule of Depreciation Expense Recognized in the Consolidated Statements of Income and Comprehensive Income(Loss) The following table summarizes the depreciation expense recognized in the consolidated statements of income (loss) and comprehensive income(loss):
   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Selling expenses   2,647    190    54 
General and administrative expenses   10,114    10,256    5,272 
Depreciation expense   12,761    10,446    5,326 
Schedule of Estimated Useful Lives

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

 

   Estimated useful lives (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, 2024 and 2025, 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,
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   563,436    
—
    563,436    
—
 
Investments – equity security recorded within other current assets   13,755    13,755    
—
    
—
 
Contingent consideration   17,549    
—
    
—
    17,549 

 

       Fair Value Measurements
at Reporting Date Using		 
Description  As of
December 31,
2025		   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   2,450    
—
    2,450    
—
 
Investments – equity security recorded within other current assets and other non-current assets   239,565    2,746    
—
    236,819