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Related Party Transactions
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions
19.
Related party transactions

The table below sets forth major related parties and their relationships with the Group:

Company Name

 

Relationships with the Group

JD.com, Inc., its subsidiaries and affiliates ("JD Group")

 

A shareholder of the Group

Aileyou

 

A former investee of the Group (note)

Shanghai Gulin Technology Co., Ltd and its subsidiaries(“Gulin Group”)

 

An investee of the Group

Jinsong and its subsidiaries (“Jinsong Group”)

 

An investee of the Group

AiFenLei and its subsidiaries (“AiFenLei Group”)

 

An investee of the Group

Shanghai Yueqing Information Technology Co., Ltd(“Yueqing”)

 

An investee of the Group

Shanghai Yuejun Environmental Protection Technology Co., Ltd. (“Yuejun”)

 

An investee of the Group

 

Note: Aileyou became a subsidiary of the Group subsequent to the acquisition in June 2022 (see Note 3).

For the years ended December 31, 2021, 2022 and 2023, significant related party transactions were as follows:

 

Years ended December 31,

 

 

2021

 

 

2022

 

 

2023

 

 

RMB

 

 

RMB

 

 

RMB

 

Net Service Revenue

 

 

 

 

 

 

 

 

 

Services provided to Jinsong Group

 

 

1,389

 

 

 

5,936

 

 

 

20,055

 

 

 

 

 

 

 

 

 

 

 

Merchandise costs

 

 

 

 

 

 

 

 

 

Purchase from JD Group

 

 

6,906

 

 

 

10,849

 

 

 

—

 

Purchase from Jinsong Group

 

 

—

 

 

 

—

 

 

 

242

 

Purchase from Gulin Group(1)

 

 

175,118

 

 

 

242,929

 

 

 

49,115

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

Service received from JD Group(2)

 

 

363,946

 

 

 

363,764

 

 

 

438,431

 

Service received from Aileyou

 

 

8,502

 

 

 

—

 

 

 

—

 

Service received from Gulin Group

 

 

3,006

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

Interest income from loans provided to related parties

 

 

1,272

 

 

 

—

 

 

 

2,420

 

 

Amount due from related parties

 

 

 

 

 

 

 

 

 

Loan to Gulin Group

 

 

80,500

 

 

 

13,000

 

 

 

25,000

 

Loan to AiFenLei Group

 

 

85,900

 

 

 

—

 

 

 

70,000

 

Repayments from AiFenLei Group

 

 

110,015

 

 

 

—

 

 

 

70,000

 

Repayments from Gulin Group

 

 

80,500

 

 

 

13,000

 

 

 

25,000

 

Repayments from Yueqing

 

 

9,500

 

 

 

—

 

 

 

—

 

 

19.
Related party transactions—(Continued)

As of December 31, 2022 and 2023, the amount due from/to related parties are as follows:

 

 

As of December 31,

 

 

2022

 

 

2023

 

 

RMB

 

 

RMB

 

Due from JD Group (4)

 

 

96,745

 

 

 

58,788

 

Due from Jinsong Group

 

 

 

 

 

 

Other receivables from Jinsong Group

 

 

9,323

 

 

 

17,054

 

Due from AiFenLei Group

 

 

 

 

 

 

Other receivables from AiFenLei Group (5)

 

 

189,567

 

 

 

13,909

 

Due from Gulin Group

 

 

 

 

 

 

Other receivables from Gulin Group

 

 

7

 

 

 

—

 

Due from Yuejun Group

 

 

—

 

 

 

231

 

 

 

295,642

 

 

 

89,982

 

Due to JD Group

 

 

 

 

 

 

Other payables to JD Group (3)

 

 

41,448

 

 

 

76,026

 

Due to Jinsong Group

 

 

5,281

 

 

 

1,945

 

Due to Gulin Group

 

 

875

 

 

 

40

 

Due to Yuejun Group

 

 

—

 

 

 

21

 

 

 

47,604

 

 

 

78,032

 

 

 

(1)
Gulin is one of the new product suppliers of the Group, the Group mainly purchases new products from Gulin.
(2)
JD Group mainly provides services related to the business on Paipai platform, including channel sales services, advertising services, logistic services and so on.
(3)
Other payables to JD Group mainly include channel commissions payable to JD Group.
(4)
Amount due from JD Group includes fund receivables from payment service provider of JD Group, cash collected by JD Group from third party merchants on behalf of the Group, and advance payment to customers on behalf of JD Group.
(5)
As of December 31, 2022, RMB180,000 was prepaid as deposit to subscribe for preferred shares of AiFenLei. The deposit had been reclassified to long-term investments upon closing of the investment transaction in 2023 (see Note 7).