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Leases | 12 Months Ended
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Dec. 31, 2019
Leases |
Leases | 1 8 . Leases The Group has operating leases for warehouses, stores, office spaces, delivery centers and other corporate assets that the Group utilizes under lease arrangements. A summary of supplemental information related to operating leases as of December 31, 2019 is as follows:
|  | As of December 31, 2019 |
|  | RMB |
Operating lease ROU assets |  |  | 8,643,597 |
Operating lease liabilities-current |  |  | 3,193,480 |
Operating lease liabilities-non-current |  |  | 5,523,164 |
Total operating lease liabilities |  |  | 8,716,644 |
Weighted average remaining lease term |  |  | 4.4 years |
Weighted average discount rate |  |  | 4.7 | %
A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income /(loss) and supplemental cash flow information related to operating leases is as follows:
|  | For the year ended December 31, 2019 |
|  | RMB |
Operating lease cost |  |  | 3,377,389 |
Short-term lease cost |  |  | 1,212,899 |
Total (*) |  |  | 4,590,288 |
Cash paid for operating leases |  |  | 3,460,898 |
(*) | The lease expenses based on ASC 840 were RMB 3,086,709 and RMB 4,571,036 for the years ended December 31, 2017 and 2018, respectively.
A summary of maturity of operating lease liabilities under the Group’s non-cancelable operating leases as of December 31, 2019 is as follows:
|  | As of December 31, 2019 |
|  | RMB |
2020 |  |  | 3,267,527 |
2021 |  |  | 2,187,920 |
2022 |  |  | 1,549,062 |
2023 |  |  | 1,085,230 |
2024 |  |  | 664,785 |
2025 and thereafter |  |  | 926,265 |
Total lease payments |  |  | 9,680,789 |
Less: interest |  |  | (964,145 | )
Present value of operating lease liabilities |  |  | 8,716,644 |
As of December 31, 2019, the Group has no significant lease contract that has been entered into but not yet commenced. As of December 31, 2018, the future minimum lease payments under the Group’s non-cancelable operating lease agreements based on ASC 840 are as follows:
|  | As of December 31, 2018 |
|  | RMB |
2019 |  |  | 3,596,926 |
2020 |  |  | 2,553,344 |
2021 |  |  | 1,452,812 |
2022 |  |  | 907,116 |
2023 |  |  | 459,342 |
2024 and Thereafter |  |  | 1,044,818 |
|  |  | 10,014,358 |

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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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