Leases

12 Months Ended

Dec. 31, 2019

18. Leases

The company leases facilities under

non-cancellable

operating leases expiring on different dates. The terms of substantially all of these leases are four years or less. When determining the lease term, the Group includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. All of the Group’s leases qualify as operating leases. With the adoption of the new leasing standard, the Group has recorded a right-of-use asset and corresponding lease liability, by calculating the present value of future lease payments, discounted at additional borrowing rate.

(a) The following table sets forth the breakdown of leasing expenses:


	For the years ended December 31,
	2019
	RMB
Lease cost:
Amortization of right-of-use assets		44,190
Interest of lease liabilities		5,183
Expenses for short-term leases within 12 months		1,499

Total lease cost		50,872

(b) The following table sets forth the supplemental cash flow information related to leases:


	For the years ended December 31,
	2019
	RMB
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating lease payments		51,370


	As of December 31,
	2019
Weighted-average remaining lease term
Operating leases		2.46 years
Weighted-average discount rate
Operating leases		4.75	%

(d) The following table sets forth the maturities of lease liabilities:


	For the years ended December 31,
	2019
	RMB
2020		45,174
2021		40,688
2022		15,285
2023		640

Total undiscounted lease payments		101,787
Less: imputed interest		(16,644	)

Total lease liabilities		85,143

(e) The following table sets forth the non-cancellable future minimum lease payments for the Group’s operating leases

under the previous lease standard (“ASC Topic 840”) as of December 31, 2018:


	As of December 31,
	2018
	RMB
2019		58,406
2020		45,077
2021		40,221
2022		14,826
Thereafter		640

Total		159,170