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Intangible Assets, Net
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

7.

INTANGIBLE ASSETS, NET

Intangible assets, as of December 31, 2022 and 2023 are as follows:

    

As of December 31, 

2022

2023

    

RMB

    

RMB

Software

 

30,095

 

38,143

Technology

 

8,390

 

65,235

Total cost

 

38,485

 

103,378

Less: Accumulated amortization

 

(17,885)

 

(24,648)

Intangible assets, net

 

20,600

 

78,730

Amortization expenses related to intangible assets were RMB6,326, RMB7,914 and RMB7,704 for the years ended December 31, 2021, 2022 and 2023, respectively.

On December 15, 2023, the Group acquired a Swiss company, which designed image sensors for spatial awareness for industrial and automotive applications. In connection with this acquisition, the Group acquired patent rights to certain technologies valued of RMB59,351 with an amortization period of 8 years.

7.INTANGIBLE ASSETS, NET (continued)

The estimated amortization expenses for each of the five succeeding fiscal years and thereafter are as follows:

    

Years ended

December 31,

RMB

2024

 

11,678

2025

 

10,416

2026

 

9,866

2027

9,866

2028 and years after

36,904

Total

 

78,730