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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Current and Deferred Portions of Income Tax Expenses | The current and deferred portions of income tax expenses included in the consolidated statements of comprehensive income (loss) during the years ended December 31, 2017, 2018 and 2019 are as follows:
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Current income tax expenses |  |  | 371,354 |  |  |  | 94,787 |  |  |  | 390,080 |
Deferred income tax expense (benefit) |  |  | (96,643 | ) |  |  | 56,419 |  |  |  | 91,882 |
Total |  |  | 274,711 |  |  |  | 151,206 |  |  |  | 481,962 |
Summary of Reconciliation Between the Computed Expected Tax Expenses (Benefit) Rate and the Effective Income Tax Rate | The following table sets forth reconciliation between the computed expected tax expenses (benefit) rate and the effective income tax rate:
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Statutory tax rate |  |  | 25 | % |  |  | 25 | % |  |  | 25 | %
Research and development tax credit |  |  | (2 | )% |  |  | (2 | )% |  |  | (3 | ) %
Effect of tax holiday* |  |  | (6 | )% |  |  | (19 | )% |  |  | (7 | ) %
Change in valuation allowance |  |  | — |  |  |  | — |  |  |  | 1 | %
Non-deductible expenses |  |  | 2 | % |  |  | 2 | % |  |  | 1 | %
Others |  |  | 1 | % |  |  | — |  |  |  | — |
Effective income tax rate |  |  | 20 | % |  |  | 6 | % |  |  | 17 | %
Summary of Aggregate Amount and Per Share Effect of Tax Holidays | The aggregate amount and per share effect of the tax holidays are as follows
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
Tax holiday effect |  |  | 153,908 |  |  |  | 460,333 |  |  |  | 202,923 |
Net income per share effect |  |  |  |  |  |  |  |  |  |  |  |
- Basic |  |  | 0.20 |  |  |  | 0.31 |  |  |  | 0.13 |
- Diluted |  |  | 0.20 |  |  |  | 0.29 |  |  |  | 0.13 |
Significant Components of Deferred Tax Assets | The following table sets forth the significant components of the deferred tax assets:
|  | As of December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |
Deferred tax assets: |  |  |  |  |  |  |  |
Timing difference in revenue recognition for transaction service fee |  |  | 63,733 |  |  |  | 62,718 |
Provision for accounts receivable and loans receivable |  |  | 52,207 |  |  |  | 49,827 |
Net accumulated losses-carry forward |  |  | 38,851 |  |  |  | 15,166 |
Payroll and welfare payable and other temporary difference |  |  | 8,115 |  |  |  | 8,274 |
Less: valuation allowance |  |  | (40,143 | ) |  |  | (6,245 | )
Total deferred tax assets |  |  | 122,763 |  |  |  | 129,740 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Quality assurance payable |  |  | (41,799 | ) |  |  | (34,367 | )
Intangible assets arisen from business combination |  |  | (15,940 | ) |  |  | (15,940 | )
Investor reserve funds |  |  | (23,287 | ) |  |  | (15,523 | )
Unrealized gain in consolidated trusts |  |  | — |  |  |  | (130,009 | )
Other taxable temporary difference |  |  | (19,038 | ) |  |  | (3,083 | )
Total deferred tax liabilitie s |  |  | (100,064 | ) |  |  | (198,922 | )
Net deferred tax assets (liabilities) |  |  | 22,699 |  |  |  | (69,182 | )
Movement of Valuation Allowances | Movement of valuation allowances
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |
At beginning of year |  |  | 2,906 |  |  |  | 21,538 |  |  |  | 40,143 |
Current year additions |  |  | 18,688 |  |  |  | 22,585 |  |  |  | 741 |
Current year reversals |  |  | (56 | ) |  |  | (3,980 | ) |  |  | (34,639 | )
At end of year |  |  | 21,538 |  |  |  | 40,143 |  |  |  | 6,245 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 25 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=117330534&loc=d3e28937-109314 + Details
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