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Intangible assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

7. Intangible assets

Intangible assets consist of the following:

		As of December 31,
		2018				2019
		RMB				RMB
Micro-Lending License			63,760				63,760
Financing guarantee License1			4,600				4,600
Factoring License1			265				265
Financial Leasing License1			255				255
Total			68,880				68,880
Less: Accumulated amortization and impairment			—				(4,600	)
Intangible assets			68,880				64,280

1 The Group acquired Shenzhen Rongze Commerecial Co., Ltd, Zhongyu Financial Leasing and Zhongyisheng Financial Guarantee Co., Ltd. in 2018. The acquisitions met the “single or similar asset threshold” and are not considered as business combination in accordance with ASC Topic 805. In 2019, the financial guarantee licenses related to Zhongyisheng Financial Guarantee Co., Ltd. was revoked and therefore full impairment was provided.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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