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Leases | 9 Months Ended
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Sep. 30, 2019
Leases |
Leases |
1 1 . | Leases
The Group has operating lease s for warehouses, stores, office space s , delivery centers and other corporate assets that the Group utilize s under lease arrangements. A summary of supplemental information related to operating leases as of September 30, 2019 is as follows :
|  | As of September 30, 2019 |
|  | RMB |
Operating lease ROU assets |  |  | 8,944,250 |
Operating lease liabilities-current |  |  | 3,392,274 |
Operating lease liabilities-non - current |  |  | 5,740,119 |
Total operating lease liabilities |  |  | 9,132,393 |
Weighted average remaining lease term |  |  | 4.5 years |
Weighted average discount rate |  |  | 4.7 | %
A summary of lease cost recognized in the G roup’s unaudited interim condensed consolidated financial statements of operations and comprehensive income and supplemental cash flow information related to operating leases i s as follows :
|  | For the nine months ended September 30, 2019 |
|  | RMB |
Operating lease cost |  |  | 2,488,840 |
Short-term lease cost |  |  | 860,237 |
Total(*) |  |  | 3,349,077 |
Operating cash flows from operating leases |  |  | 2,323,248 |
(*) | The lease expense was RMB 2,783,933 for the nine months ended September 30, 2018.
A summary of maturity of operating lease liabilities under the Group’s non-cancelable operating leases as of September 30, 2019 i s as follows :
|  | As of September 30, 2019 |
|  | RMB |
Remainder of 2019 |  |  | 1,096,019 |
2020 |  |  | 2,984,093 |
2021 |  |  | 2,019,774 |
2022 |  |  | 1,438,755 |
2023 |  |  | 1,048,445 |
2024 and thereafter |  |  | 1,586,543 |
Total lease payments |  |  | 10,173,629 |
Less : interest |  |  | (1,041,236 | )
Present value of operating lease liabilities |  |  | 9,132,393 |
As of September 30, 2019, the Group has no significant lease contract that has been entered into but not yet commenced.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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