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LEASES

6 Months Ended

Jun. 30, 2024

LEASES

LEASES

16.LEASES

The Group’s leases mainly related to building and the rights to use the land. The total expense related to short-term leases were insignificant for the six months ended June 30, 2023 and 2024, and sublease income of the Group which was recognized in revenues in the consolidated statements of comprehensive income were RMB65 and RMB80 for the six months ended June 30, 2023 and 2024, respectively. The Group recognizes a negative lease expense of RMB67 and RMB2 for the six months ended June 30, 2023 and 2024 under the relief of lease concession from COVID-19 as the Group elects using the variable lease expense approach.

A summary of supplemental information related to operating leases for the six months ended June 30, 2023 and 2024 is as follows:

​

​	​	​	​	​	​
​		Six Months Ended June 30,
​	​	2023		2024	​
Lease cost:		​	​		​
Operating fixed lease cost		2,110	​	2,085	​
Finance lease cost	​	​	​	​	​
— Amortization of ROU assets	​	41	​	41	​
— Interest on lease liabilities	​	52	​	63	​
Variable lease cost		65	​	134	​
Total lease cost		2,268	​	2,323	​
​	​	​	​	​	​
Other information:		​	​	​	​
Weighted average remaining lease term		​	​	​	​
Operating leases	​	13	years	13	years
Finance leases	​	28	years	27	years
Weighted average discount rate	​	​	​	​	​
Operating leases	​	6.20	%	6.14	%
Finance leases		4.03	%	4.32	%

​

As of June 30, 2024, the maturities of lease liabilities in accordance with ASC 842 in each of the next five years and thereafter are as follows:

​

​	​	​	​	​
​	​	Total Operating	​	Total Finance
​		Leases		Leases
Remainder of 2024	​	2,043	​	76
2025		4,014	​	155
2026		3,840	​	156
2027		3,704	​	160
2028		3,509	​	162
Thereafter		24,281	​	3,910
​	​	​	​	​
Total minimum lease payments	​	41,391	​	4,619
​	​	​	​	​
Less: amount representing interest	​	13,526	​	1,987
​	​	​	​	​
Present value of minimum lease payments		27,865	​	2,632

​

As of June 30, 2024, the Group has entered 16 lease contracts that the Group expects to account for as operating or finance leases, the future undiscounted lease payments for these non-cancellable lease contracts are RMB3,848, which is not reflected in the consolidated balance sheets.

Supplemental cash flow information related to leases for the six months ended June 30, 2023 and 2024 are as follows:

​

​	​	​	​	​
​	​	Six Months Ended June 30,
​		2023		2024
Cash paid for amounts included in the measurement of operating lease liabilities		2,094		2,255
Cash paid for amounts included in the measurement of finance lease liabilities		69		84
Non-cash right-of-use assets obtained in exchange for operating lease liabilities		554		1,566
Non-cash right-of-use assets obtained in exchange for finance lease liabilities, net of reassessment of finance lease payments		53		—

​

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- References

No definition available.

+ Details

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

+ Details

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