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Inventories, net
12 Months Ended
Dec. 31, 2019
Inventories, net  
Inventories, net
9. Inventories, net
Inventories, net consist of the following:
 
As of December 31,
 
 
2017
 
 
2018
 
 
2019
 
 
RMB
 
 
RMB
 
 
RMB
 
Products
 
 
41,840,945
 
 
 
44,678,983
 
 
 
58,795,341
 
Packing materials and others
 
 
358,207
 
 
 
219,961
 
 
 
223,234
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inventories
 
 
42,199,152
 
 
 
44,898,944
 
 
 
59,018,575
 
Inventory valuation allowance
 
 
(498,773
)
 
 
(868,860
)
 
 
(1,086,419
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Inventories, net
 
 
41,700,379
 
 
 
44,030,084
 
 
 
57,932,156