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Land use rights, net

12 Months Ended

Dec. 31, 2019

11. Land use rights, net

Land use rights, net consist of the following:


	As of December 31,
	2017			2018			2019
	RMB			RMB			RMB
Land use rights		7,254,974			10,860,924			11,380,221
Less: accumulated amortization		(204,165	)		(385,266	)		(488,479	)

Net book value		7,050,809			10,475,658			10,891,742

Amortization expenses for land use rights were RMB84,405, RMB181,101 and RMB222,143 for the years ended December 31, 2017, 2018 and 2019, respectively.

As of December 31, 2019, amortization expenses related to the land use rights for future periods are estimated to be as follows:


	For the year ending December 31,
	2020		2021		2022		2023		2024		2025 and thereafter
	RMB		RMB		RMB		RMB		RMB		RMB
Amortization expenses		228,572		228,572		228,572		228,572		228,572		9,748,882