Leases

12 Months Ended

Dec. 31, 2019

. 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