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v3.20.1

Segment Information (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2019 CNY (¥) | Dec. 31, 2019 USD ($) | Dec. 31, 2018 CNY (¥) | Dec. 31, 2017 CNY (¥)
Revenues: |  |  |  |
Revenues | ¥ 3,413,176 | $ 490,272 | ¥ 3,310,062 | ¥ 2,846,006
Less: VAT related surcharges | (21,364) | (3,069) | (20,454) | (19,098)
Net revenues | 3,391,812 | 487,203 | 3,289,608 | 2,826,908
Operating cost and expenses: |  |  |  |
Relationship manager compensation | (625,044) | (89,782) | (633,599) | (616,064)
Performance fee compensation | (31,283) | (4,494) | (21,175) | (11,291)
Other Compensation | (954,443) | (137,097) | (909,418) | (780,017)
Total compensation and benefits | (1,610,770) | (231,373) | (1,564,192) | (1,407,372)
Selling expenses | (331,346) | (47,595) | (412,720) | (320,462)
General and administrative expenses | (296,492) | (42,589) | (280,075) | (246,785)
Provision for doubtful accounts | (130,723) | (18,777) | 688 | (2,093)
Other operating expenses | (196,793) | (28,268) | (169,368) | (147,318)
Government subsidies | 89,278 | 12,824 | 62,583 | 74,156
Total operating cost and expenses | (2,476,846) | (355,778) | (2,363,084) | (2,049,874)
Income (loss) from operations | 914,966 | 131,425 | 926,524 | 777,034
One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 931,668 |  | 1,027,993 |
Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 1,845,465 |  | 1,776,549 |
Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 113,085 |  | 143,634 |
Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 522,958 |  | 361,886 |
Others |  |  |  |
Revenues: |  |  |  |
Revenues | 1,761,947 | 253,088 | 1,731,852 | 1,427,684
Others | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 690,860 | 99,236 | 733,009 | 541,025
Others | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 524,692 | 75,367 | 593,856 | 605,092
Others | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 23,437 | 3,367 | 43,101 | 86,494
Others | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 522,958 | 75,118 | 361,886 | 195,073
Funds Gopher manages |  |  |  |
Revenues: |  |  |  |
Revenues | 1,651,229 | 237,184 | 1,578,210 | 1,418,322
Funds Gopher manages | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 240,808 | 34,590 | 294,984 | 561,059
Funds Gopher manages | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 1,320,773 | 189,717 | 1,182,693 | 802,761
Funds Gopher manages | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 89,648 | $ 12,877 | 100,533 | 54,502
Wealth Management Business |  |  |  |
Revenues: |  |  |  |
Revenues | 2,329,853 |  | 2,318,212 | 2,141,395
Less: VAT related surcharges | (10,574) |  | (12,206) | (15,128)
Net revenues | 2,319,279 |  | 2,306,006 | 2,126,267
Operating cost and expenses: |  |  |  |
Relationship manager compensation | (625,044) |  | (631,234) | (611,550)
Other Compensation | (607,336) |  | (534,516) | (463,370)
Total compensation and benefits | (1,232,380) |  | (1,165,750) | (1,074,920)
Selling expenses | (287,541) |  | (367,589) | (295,798)
General and administrative expenses | (194,908) |  | (164,802) | (146,122)
Provision for doubtful accounts | (121,572) |  |  |
Other operating expenses | (103,846) |  | (54,291) | (77,490)
Government subsidies | 58,704 |  | 53,620 | 49,008
Total operating cost and expenses | (1,881,543) |  | (1,698,812) | (1,545,322)
Income (loss) from operations | 437,736 |  | 607,194 | 580,945
Wealth Management Business | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 928,061 |  | 1,024,323 |
Wealth Management Business | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 1,155,450 |  | 1,136,010 |
Wealth Management Business | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 23,430 |  | 44,309 |
Wealth Management Business | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 222,912 |  | 113,570 |
Wealth Management Business | Others |  |  |  |
Revenues: |  |  |  |
Revenues | 1,454,910 |  | 1,459,346 | 1,271,977
Wealth Management Business | Others | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 688,652 |  | 731,424 | 539,938
Wealth Management Business | Others | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 520,013 |  | 571,782 | 577,544
Wealth Management Business | Others | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 23,333 |  | 42,570 | 84,105
Wealth Management Business | Others | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 222,912 |  | 113,570 | 70,390
Wealth Management Business | Funds Gopher manages |  |  |  |
Revenues: |  |  |  |
Revenues | 874,943 |  | 858,866 | 869,418
Wealth Management Business | Funds Gopher manages | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 239,409 |  | 292,899 | 560,047
Wealth Management Business | Funds Gopher manages | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 635,437 |  | 564,228 | 300,352
Wealth Management Business | Funds Gopher manages | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 97 |  | 1,739 | 9,019
Asset Management Business |  |  |  |
Revenues: |  |  |  |
Revenues | 787,551 |  | 751,759 | 590,640
Less: VAT related surcharges | (3,971) |  | (3,228) | (2,599)
Net revenues | 783,580 |  | 748,531 | 588,041
Operating cost and expenses: |  |  |  |
Relationship manager compensation |  |  |  | (4)
Performance fee compensation | (31,283) |  | (21,175) | (11,291)
Other Compensation | (248,612) |  | (251,923) | (190,032)
Total compensation and benefits | (279,895) |  | (273,098) | (201,327)
Selling expenses | (26,661) |  | (22,200) | (9,271)
General and administrative expenses | (71,805) |  | (80,873) | (70,618)
Provision for doubtful accounts | (3,800) |  |  |
Other operating expenses | (25,978) |  | (25,310) | (27,773)
Government subsidies | 15,878 |  | 6,148 | 23,848
Total operating cost and expenses | (392,261) |  | (395,333) | (285,141)
Income (loss) from operations | 391,319 |  | 353,198 | 302,900
Asset Management Business | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 3,607 |  | 3,670 |
Asset Management Business | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 690,015 |  | 640,539 |
Asset Management Business | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 89,655 |  | 99,325 |
Asset Management Business | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 4,274 |  | 8,225 |
Asset Management Business | Others |  |  |  |
Revenues: |  |  |  |
Revenues | 11,265 |  | 32,415 | 41,736
Asset Management Business | Others | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 2,208 |  | 1,585 | 1,087
Asset Management Business | Others | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 4,679 |  | 22,074 | 27,548
Asset Management Business | Others | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 104 |  | 531 | 2,389
Asset Management Business | Others | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 4,274 |  | 8,225 | 10,712
Asset Management Business | Funds Gopher manages |  |  |  |
Revenues: |  |  |  |
Revenues | 776,286 |  | 719,344 | 548,904
Asset Management Business | Funds Gopher manages | One-time commissions |  |  |  |
Revenues: |  |  |  |
Revenues | 1,399 |  | 2,085 | 1,012
Asset Management Business | Funds Gopher manages | Recurring service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 685,336 |  | 618,465 | 502,409
Asset Management Business | Funds Gopher manages | Performance-based income |  |  |  |
Revenues: |  |  |  |
Revenues | 89,551 |  | 98,794 | 45,483
Lending and Other Businesses |  |  |  |
Revenues: |  |  |  |
Revenues | 295,772 |  | 240,091 | 113,971
Less: VAT related surcharges | (6,819) |  | (5,020) | (1,371)
Net revenues | 288,953 |  | 235,071 | 112,600
Operating cost and expenses: |  |  |  |
Relationship manager compensation |  |  | (2,365) | (4,510)
Other Compensation | (98,495) |  | (122,979) | (126,615)
Total compensation and benefits | (98,495) |  | (125,344) | (131,125)
Selling expenses | (17,144) |  | (22,931) | (15,393)
General and administrative expenses | (29,779) |  | (34,400) | (30,045)
Provision for doubtful accounts | (5,351) |  | 688 | (2,093)
Other operating expenses | (66,969) |  | (89,767) | (42,055)
Government subsidies | 14,696 |  | 2,815 | 1,300
Total operating cost and expenses | (203,042) |  | (268,939) | (219,411)
Income (loss) from operations | 85,911 |  | (33,868) | (106,811)
Lending and Other Businesses | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | 295,772 |  |  |
Lending and Other Businesses | Others |  |  |  |
Revenues: |  |  |  |
Revenues | 295,772 |  | 240,091 | 113,971
Lending and Other Businesses | Others | Other service fees |  |  |  |
Revenues: |  |  |  |
Revenues | ¥ 295,772 |  | ¥ 240,091 | ¥ 113,971

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