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RELATED PARTY TRANSACTIONS AND BALANCES
 6 Months Ended
Jun. 30, 2024
RELATED PARTY TRANSACTIONS AND BALANCES  
RELATED PARTY TRANSACTIONS AND BALANCES

18.RELATED PARTY TRANSACTIONS AND BALANCES

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities.

The following entities are considered to be related parties to the Group. The related parties mainly act as service providers and service recipients to the Group. The Group is not obligated to provide any type of financial support to these related parties.

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Related Party

    

Nature of the Party

    

Relationship with the Group

Trip.com Group Limited (“Trip.com”)

 

Online travel services provider

 

Mr. Qi Ji is a director;
Shareholder of the Group

Sheen Star Group Limited (“Sheen Star”)

 

Investment holding company

 

Equity method investee of the Group, controlled by Mr. Qi Ji

China Cjia Group Limited (“Cjia Group”)

 

Apartment Management Group

 

Equity method investee of the Group

Shanghai Zhuchuang Enterprise Management Co., Ltd. (“Zhuchuang”)

 

Staged office space company

 

Equity method investee of the Group

Shanghai Lianquan Hotel Management Co., Ltd. (“Lianquan”)

 

Hotel management company

 

Equity method investee of the Group

Huamai (Guangzhou) Hotel Management Co., Ltd. (“Huamai”)

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Hotel management company

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Equity method investee of the Group

AZURE Hospitality Fund I Limited Partnership (“Azure”)

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Fund

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Equity method investee of the Group

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(a) Related party balances

Amounts due from related parties consist of the following:

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As of

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December 31,

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June 30, 

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2023

    

2024

Trip.com

 

174

 

213

Lianquan

 

45

 

44

Huamai

 

22

 

19

Zhuchuang

 

14

 

14

Cjia Group

 

9

 

10

Others

 

34

 

41

Allowance for expected credit losses

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(63)

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(62)

Total

 

235

 

279

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Amounts due to related parties consist of the following:
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As of

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December 31,

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June 30, 

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2023

    

2024

Trip.com

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48

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86

Cjia Group

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16

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13

Others

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13

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20

Total

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77

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119

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(b) Related party transactions

During the six months ended June 30, 2023 and June 30, 2024, significant related party transactions were as follows:

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Six Months Ended June 30, 

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2023

    

2024

Commission expenses to Trip.com

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102

 

150

Lease expenses to Trip.com

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9

 

10

Lease expenses to Cjia Group

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17

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18

Goods sold and service provided to Cjia Group

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4

 

11

Service fee from Trip.com

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9

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68

Service fee from Sheen Star

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3

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Service fee from Azure

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7

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11

Sublease income from Lianquan

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4

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6

Sublease income from Cjia Group

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2

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3

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