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Accounts receivable and contract assets | 12 Months Ended
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Dec. 31, 2019
Text Block [Abstract] |
Accounts receivable and contract assets | 8. Accounts receivable and contract assets The following table presents the accounts receivable as of December 31, 2018 and 2019:
|  | As of December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |
Accounts receivable (adjusted, Note 2(ah)) |  |  | 862,586 |  |  |  | 1,028,004 |
Allowance for doubtful accounts (adjusted, Note 2(ah)) |  |  | (50,544 | ) |  |  | (145,699 | )
Accounts receivable, net |  |  | 812,042 |  |  |  | 882,305 |
The following table presents the aging of past-due accounts receivable or more by type of fee as of December 31, 2018 and 2019:
|  | Current |  |  | 1-89 days past due |  |  | 90-119 days Past due |  |  | 120-149 days Past due |  |  | 150-179 days Past due |  |  | Total accounts receivable |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan facilitation |  |  | 765,354 |  |  |  | 38,768 |  |  |  | 8,193 |  |  |  | 8,086 |  |  |  | 7,720 |  |  |  | 828,121 |
Post facilitation |  |  | 10,310 |  |  |  | 4,197 |  |  |  | 1,689 |  |  |  | 1,877 |  |  |  | 1,926 |  |  |  | 19,999 |
Other |  |  | 14,466 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,466 |
Total |  |  | 790,130 |  |  |  | 42,965 |  |  |  | 9,882 |  |  |  | 9,963 |  |  |  | 9,646 |  |  |  | 862,586 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan facilitation |  |  | 793,608 |  |  |  | 78,878 |  |  |  | 22,058 |  |  |  | 20,440 |  |  |  | 18,920 |  |  |  | 933,904 |
Post facilitation |  |  | 38,710 |  |  |  | 11,487 |  |  |  | 4,956 |  |  |  | 5,238 |  |  |  | 5,346 |  |  |  | 65,737 |
Other |  |  | 28,363 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28,363 |
Total |  |  | 860,681 |  |  |  | 90,365 |  |  |  | 27,014 |  |  |  | 25,678 |  |  |  | 24,266 |  |  |  | 1,028,004 |
As disclosed in note 2(k), the Company writes-off the accounts receivable and the related allowance when the accounts receivables are delinquent for 180 days or more. The following table sets forth the movement of provision for accounts receivable as of December 31, 2018 and 2019, respectively:
|  | For the Years Ended December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |
Beginning balance |  |  | — |  |  |  | 50,544 |
Impact due to adoption of new revenue standard |  |  | 16,501 |  |  |  | — |
Current period accrual |  |  | 107,352 |  |  |  | 274,375 |
Current period reversal |  |  | (700 | ) |  |  | (12,493 | )
Current period write-off |  |  | (72,609 | ) |  |  | (166,727 | )
Ending balance |  |  | 50,544 |  |  |  | 145,699 |
The following table sets forth the contract assets as of December 31, 2018 and 2019:
|  | As of December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |
Investment management fee for investment programs |  |  | 110,321 |  |  |  | 20,555 |
Contract acquisition cost |  |  | 1,782 |  |  |  | — |
|  |  | 112,103 |  |  |  | 20,555 |
The following table sets forth the movement of contract assets for the years ended December 31, 2018 and 2019:
|  | For the Years Ended December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |
Beginning balance |  |  | — |  |  |  | 112,103 |
Impact due to adoption of new revenue standard |  |  | 53,084 |  |  |  | — |
Recognition of investment management fee |  |  | 208,471 |  |  |  | 109,423 |
Recognition of contract acquisition cost |  |  | 4,186 |  |  |  | — |
Settlement upon maturity of investment programs |  |  | (146,483 | ) |  |  | (199,189 | )
Settlement upon fulfilment of contract |  |  | (7,155 | ) |  |  | (1,782 | )
Ending balance |  |  | 112,103 |  |  |  | 20,555 |

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