v3.26.3
Concentrations of Credit Risk
 6 Months Ended
Jun. 30, 2026
Concentrations of Credit Risk [Abstract]  
Concentrations of Credit Risk

(20) Concentrations of Credit Risk

 

Concentration risks

 

Customers accounting for 10% or more of total net revenues excluding estimated renewal commissions are as follows:

 

    Six Months ended June 30,  
    2025     % of sales     2026     % of sales  
    RMB           RMB        
Sinatay Life Insurance Co., Ltd. (“Sinatay”)     64,873       15.4       30,702       10.5  
Fanhua RONS Insurance Sales & Service Co., Ltd.     *       *       32,086       11.0  
Aeon Life Insurance Co., Ltd. (“Aeon”).     43167       10.2       *       *  
Ruizhong Life Insurance Co., Ltd.     *       *       30,856       10.6  
Subtotal     108,040       25.6       93,644       32.1  

 

* represented less than 10% of total net revenues for the period.

 

 

Customers which accounted for 10% or more of gross accounts receivable excluding estimated renewal commissions are as follows:

 

    As of
December 31,
2025		     %     As of
June 30,
2026		     %  
Sinatay     14,136       20.9 %     *       * %
Fanhua RONS Insurance Sales & Service Co., Ltd.     12,247       18.1 %     12,240        16.6 %
AVIVA-COFCO Life Insurance Co., Ltd.     9,795       14.5 %     *       * %
Ruizhong Life Insurance Co., Ltd.     8,602       12.7 %     *       * %
Subtotal     44,780       66.2 %     12,240        16.6 %

 

* represented less than 10% of accounts receivable as of the period end.

 

The Group performs ongoing credit evaluations of its customers and generally does not require collateral on accounts receivable.

 

The Group places its cash and cash equivalents and short-term investments with financial institutions with low credit risk.