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Short-term Borrowings | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Short-term Borrowings | 9. Short-term borrowings The Group entered into one-year credit facilities with several commercial banks that provide revolving line of credit for the Group. In 2020, the Group drawn-down RMB 610,683 at the weighted average interest rate of 6.26% per annum and repaid the short-term bank borrowings in the amount of RMB 384,392 and RMB 226,291 in 2020 and 2021, respectively. In 2021, the Group drawn-down RMB 197,000 at the weighted average interest rate of 5.09% per annum and repaid the short-term bank borrowings in the amount of RMB 147,000 and RMB 50,000 in 2021 and 2022, respectively. In 2022, the Group drawn-down RMB 185,983 at the weighted average interest rate of 4.60% per annum and repaid the short-term bank borrowings in the amount of RMB 62,000 and RMB 123,983 in 2022 and 2023, respectively. In 2023, the Group drawn-down RMB 623,915 at the weighted average interest rate of 3.83% per annum and repaid the short-term bank borrowings in the amount of RMB 273,983. As of December 31, 2022 and 2023, the remaining balance of these loan agreements was RMB 123,983 and RMB 349,931, respectively. As of December 31, 2022 and 2023, the Group had unused one-year revolving credit facilities with several Chinese commercial banks to borrow up to RMB 286,017 and RMB 837,069, respectively for working capital needs. In 2021, the Group entered into several RMB denominated one-year loan agreements with several Chinese commercial banks of RMB 56,700 at the weighted average interest rate of 5.09% per annum and fully repaid in 2022. As of December 31, 2022 and 2023, the remaining balance of these loan agreements was nil. As of December 31, 2022 and 2023, the Group had short-term borrowings balance of RMB 123,983 and RMB 349,931 at weighted average interest rate of 4.54% and 3.51% per annum, respectively.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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