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Investments (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Forth the Group's Investments and Summarized Financial Information

The following sets forth the Group's investments:


		As of December 31,
		2022		2023
		RMB		RMB
Equity method investments (a)		436,536		532,314
Equity investments without readily determinable fair values (b)		72,592		74,544
Available-for-sale debt investments (c)		-		13,404
Total		509,128		620,262
Less: impairment on investments		(6,549)		(1,510)
Investment, net		502,579		618,752

(a)

As at December 31, 2023 and 2022 the balances represented the Group’s investments made in five and six private entities respectively.

(b)

As at December 31, 2023 and 2022, the balances represented the Group’s investments made in three private entities.

(c)

As at December 31, 2023, the balances represented the Group’s investments made in two private entities.

For the year ended December 31, 2023, equity method investments held by the Group in aggregate have met the significance criteria as defined under Rule 4-08 (g) of Regulation S-X. Set out below is the summary of combined financial information for all the equity method investments of the Group:


	As of December 31,
	2022			2023
	RMB			RMB
Statements of Balance Sheet
Current assets		246,352			434,906
Non-current assets		1,460,018			2,283,127
Current liabilities		77,564			101,483
Non-current liabilities		19,159			168,272


	Year ended December 31,
	2021			2022			2023
	RMB			RMB			RMB
Statements of Operation
Total revenues		52			153,086			386,856
Costs and expenses applicable to net sales or gross revenues		(5,167	)		(75,502	)		(213,386	)
Income (loss) from operations		(5,115	)		77,584			173,469
Net income (loss)		16,655			77,593			173,462