v3.26.3
Contract liabilities
 6 Months Ended
Jun. 30, 2026
Contract liabilities [Abstract]  
Contract liabilities

8. Contract liabilities

 

Amounts related to contract liabilities were as follows:

 

    December 31,
2025		     June 30,
2026		  
    RMB     RMB  
Deferred revenue     -       7,388  
Advance from customers     189       75  
Total     189       7,463  

 

Deferred revenue

 

The balance of RMB 7,388 as of June 30, 2026 represents amounts billed to customers in advance of performance for the automotive electronics resale business. Specifically, the Group has issued invoices to customers for products that had not yet been shipped as of the balance sheet date. Because the Group has an unconditional right to consideration, corresponding accounts receivable have been recognized; however, the related performance obligation has not been satisfied since control of the products has not transferred to customers. Accordingly, this amount is recorded as a contract liability and is presented separately from advance from customers, which represents cash received before performance.

 

Advance from customers

 

The balance of RMB 75 as of June 30, 2026 represents advances received from customers for the advertising business. The contract liability balance represents the transaction price allocated to the unsatisfied portion of the performance obligation. Revenue will be recognized over the service period as the performance obligations are satisfied.

 

A reconciliation of the movement in contract liabilities is as follows:

 

    December 31,
2025		     June 30,
2026		  
    RMB     RMB  
Beginning balance January 1     -       189  
Customer prepayment and billing in advance of performance     339       8,420  
Revenue recognized in the period that was included in the contract liability balance at the beginning of the period             (189 )
Revenue recognized in the period that was included in the contract liability balance during the period     (150 )     (957 )
Ending balance     189       7,463