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INTANGIBLE ASSETS, NET | 6 Months Ended
--- | ---
Jun. 30, 2025
INTANGIBLE ASSETS, NET |
INTANGIBLE ASSETS, NET | 5.INTANGIBLE ASSETS, NET Intangible assets, net consist of the following: ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | December 31, | ​ | June 30,
​ |  | 2024 |  | 2025
Intangible assets with indefinite lives: | ​ |  | ​ |
Brand names |  | 5,235 |  | 5,678
Master brand agreement |  | 192 |  | 192
Intangible assets with finite lives: |  | ​ |  | ​
Franchise or manachise agreements |  | 248 |  | 264
Purchased software |  | 149 |  | 153
Other intangible assets |  | 74 |  | 84
Total |  | 5,898 |  | 6,371
Less: Accumulated amortization |  | 228 |  | 260
Less: Accumulated impairment loss | ​ | 894 | ​ | 998
Total |  | 4,776 |  | 5,113
​ Amortization expense of intangible assets for the six months ended June 30, 2024 and 2025 amounted to RMB20 and RMB21, respectively. No impairment was recorded for the six months ended June 2024 and 2025. ​ 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 2025 |  | 16
2026 |  | 28
2027 |  | 25
2028 |  | 21
2029 | ​ | 19
Thereafter |  | 117
Total |  | 226
​

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