RELATED PARTY TRANSACTIONS AND BALANCES |
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| RELATED PARTY TRANSACTIONS AND BALANCES | 17.RELATED PARTY TRANSACTIONS AND BALANCES Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. The following entities are considered to be related parties to the Group. The related parties mainly act as service providers and service recipients to the Group.
(a) Related party balances Amounts due from related parties consist of the following:
Amounts due to related parties consist of the following:
(b) Related party transactions During the six months ended June 30, 2025 and June 30, 2026, significant related party transactions were as follows:
In 2026, a subsidiary of Azure Capital, acting as the originator (the “Originator”), initiated the public offering of a real estate investment trust (the “REIT”). The Group, together with another equity shareholder of Azure Capital, undertook that if it is substantiated that the Originator or Azure Capital has committed any material violation of laws or regulations in the documents and materials submitted in connection with the REIT issuance application, including concealing material facts or fabricating materially false information, the Group and that equity shareholder shall require the Originator or Azure Capital to repurchase, at its own expense, all units of the REIT or the equity interests in the underlying real estate projects. If the Originator or Azure Capital is unable to fully perform the repurchase undertaking due to insufficient financial resources, the Group and that equity shareholder shall provide funding support to enable it to fulfill the repurchase undertaking. By the end of August 2026, the REIT’s offering remained ongoing, with a total offering size of approximately RMB1,239. |
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