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INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2023

5.INTANGIBLE ASSETS, NET

Intangible assets, net consist of the following:


	As of
	December 31,	June 30,
	2022	2023
Intangible assets with indefinite lives:
Brand names	5,111	5,336
Master brand agreement	192	192
Intangible assets with finite lives:
Franchise or manachise agreements	368	380
Purchased software	128	134
Other intangible assets	77	80
Total	5,876	6,122
Less: Accumulated amortization	178	200
Less: Accumulated impairment loss	420	447
Total	5,278	5,475

Amortization expense of intangible assets for the six months ended June 30, 2022 and 2023 amounted to RMB24 and RMB23, respectively.

No impairment was recorded for the six months ended June 2022 and 2023.

The annual estimated amortization expense for the above intangible assets excluding brand names and master brand agreement for the following years is as follows:


		Amortization for
		Intangible Assets
Remainder of 2023		19
2024		33
2025		33
2026		31
2027		26
Thereafter		158
Total		300