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Prepayments and Other Receivables, Net (Tables) | 12 Months Ended
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Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract] |
Schedule of Prepayments and Other Receivables, Net | Prepayments and other receivables, net consist of the following:
|  | As of December 31, |
|  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |
Deposits |  |  | 35,797 |  |  |  | 41,493 |
Customer deposits (1) |  |  | 73,861 |  |  |  | 83,467 |
Account receivables |  |  | 150,621 |  |  |  | 56,813 |
Advance to suppliers (2) |  |  | 73,475 |  |  |  | 82,710 |
VAT recoverables |  |  | 99,547 |  |  |  | 125,663 |
Loan to business partners (3) |  |  | 9,000 |  |  |  | 122,531 |
Cash advanced to staff |  |  | 39,130 |  |  |  | 43,556 |
Deferred cost (4) |  |  | 87,065 |  |  |  | — |
Others |  |  | 43,345 |  |  |  | 27,443 |
Less: allowance for credit losses |  |  | (2,358 | ) |  |  | (16,054 | )
Less: impairment losses on deferred cost |  |  | (70,406 | ) |  |  | — |
Total |  |  | 539,077 |  |  |  | 567,622 |
(1) The amount relates to the refundable deposits paid to merchants to whom the Group provides platform service. (2) The amount represents the prepayment to suppliers, mainly for purchasing pre-owned products. (3) The amount as of December 31, 2023 represents the loan of US$17.3 million to business partners with interest rate of 5% per annum. (4) Deferred cost as of December 31, 2022 represents acquired advertising resources for promotion purpose, and has been amortized based on actual consumptions. In 2022, impairment losses of RMB 70,406 have been recognized based on estimated reduction on consumptions. The movements in the allowance for credit losses for prepayments and other receivables are as follows: 4. Prepayments and other receivables, net—(Continued)
|  | As of December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
|  | RMB |  |  | RMB |  |  | RMB |
Balance as of January 1 |  |  | — |  |  |  | 935 |  |  |  | 2,358 |
Current period provision, net of recovery |  |  | 1,525 |  |  |  | 6,293 |  |  |  | 24,423 |
Current period write-off |  |  | (590 | ) |  |  | (4,870 | ) |  |  | (10,727 | )
Balance as of December 31 |  |  | 935 |  |  |  | 2,358 |  |  |  | 16,054 |

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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References No definition available. + Details
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