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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of Fair Value Measurements of Assets and Liabilities are Measured at Fair Value on Recurring Basis | As of December 31, 2022 and 2023, information about inputs into the fair value measurements of the Group's assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:
As of December 31, |  | Description |  | Fair value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |
|  |  |  | RMB |  |  | RMB |  |  | RMB |
2022 |  | Short-term investments |  |  | 282,230 |  |  |  | — |  |  |  | 282,230 |
2022 |  | Long-term investments |  |  | 15,780 |  |  |  | — |  |  |  | 15,780 |
2023 |  | Short-term investments |  |  | 310,547 |  |  |  | 71,570 |  |  |  | 238,977 |
2023 |  | Long-term investments |  |  | 12,310 |  |  |  | — |  |  |  | 12,310 |
Schedule of Assets Measured at Fair Value on Non-recurring Basis | The following table presents the Group's assets measured at fair value on a non-recurring basis for the years ended December 31, 2021, and 2022:
Years ended December 31, |  | Description |  | Fair Value |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Loss for the Year |
|  |  |  | RMB |  |  | RMB |  |  |  |
2021 |  | Equity investments without readily determinable fair value |  |  | — |  |  |  | — |  |  |  | 16,500 |
2022 |  | Equity method investments |  |  | — |  |  |  | — |  |  |  | 12,186 |
2022 |  | Goodwill |  |  | — |  |  |  | — |  |  |  | 1,819,926 |
2022 |  | Intangible assets - Non-Compete Commitment |  |  | — |  |  |  | — |  |  |  | 14,733 |
2022 |  | Intangible assets - technology/platform |  |  | 2,000 |  |  |  | 2,000 |  |  |  | 6,217 |
2022 |  | Intangible assets - brand names |  |  | 20,000 |  |  |  | 20,000 |  |  |  | 185,975 |
2022 |  | Deferred cost |  |  | 16,659 |  |  |  | 16,659 |  |  |  | 70,406 |
Property and Equipment Estimated Useful Lives | Property and equipment are recorded at cost less accumulated depreciation and impairment. Depreciation is calculated on a straight-line basis over the following estimated useful lives:
Category |  | Estimated useful lives
Machinery |  | 3-15 years
Electronic equipment |  | 3 years
Leasehold improvement |  | Over the shorter of the lease term or expected useful lives
Furniture and office equipment |  | 3 years
Motor vehicle |  | 4 years
Software |  | 3-5 years
Schedule of Identifiable Intangible Assets | The identifiable intangible assets acquired are amortized on a straight-line basis over their respective useful lives as follows:
The identifiable intangible assets |  | Amortization Years
Brand names |  | 10 years
BCA |  | 1-6 years
Technology/platform |  | 5 years
NCC |  | 5 years
Schedule of Net Product and Service Revenues by Revenue Streams and Geographical Location | For the year ended December 31, 2021, 2022 and 2023, the disaggregated revenues by revenue streams were as follows:
|  | Years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |
Net online product revenues |  |  | 6,220,037 |  |  |  | 6,697,557 |  |  |  | 9,354,140 |
Net product revenues from offline channels |  |  | 434,856 |  |  |  | 1,979,115 |  |  |  | 2,304,158 |
Net product revenues |  |  | 6,654,893 |  |  |  | 8,676,672 |  |  |  | 11,658,298 |
Net service revenues for PJT marketplace |  |  | 516,155 |  |  |  | 638,334 |  |  |  | 707,000 |
Net service revenues for Paipai marketplace |  |  | 520,944 |  |  |  | 474,010 |  |  |  | 497,338 |
Net service revenues from other channels |  |  | 88,283 |  |  |  | 80,408 |  |  |  | 103,146 |
Net service revenues |  |  | 1,125,382 |  |  |  | 1,192,752 |  |  |  | 1,307,484 |
The following is the Group’s net product and service revenues by geographical location:
|  | Years ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |
Mainland China |  |  | 6,285,247 |  |  |  | 8,014,495 |  |  |  | 10,778,594 |
Hong Kong |  |  | 339,616 |  |  |  | 659,277 |  |  |  | 827,182 |
Others |  |  | 30,030 |  |  |  | 2,900 |  |  |  | 52,522 |
Net product revenues |  |  | 6,654,893 |  |  |  | 8,676,672 |  |  |  | 11,658,298 |
Mainland China |  |  | 1,123,351 |  |  |  | 1,191,924 |  |  |  | 1,305,727 |
Hong Kong |  |  | 2,031 |  |  |  | 826 |  |  |  | 1,749 |
Others |  |  | — |  |  |  | 2 |  |  |  | 8 |
Net service revenues |  |  | 1,125,382 |  |  |  | 1,192,752 |  |  |  | 1,307,484 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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