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Convertible notes payable (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Convertible Debt
The following is a summary of the Company’s convertible notes payable as of December 31, 2022. The fair value of the Investor Notes approximates its carrying value as of December 31, 2022.
Principal amountUnamortized debt issuance costsNet carrying amount
RMBRMBRMB
5% Investor Notes due on November 8, 2025
448,318 (8,449)439,869 
The following is a summary of the Company’s convertible notes payable and its fair value as of December 31, 2023.
Fair value
Principal amountUnamortized debt issuance costsNet carrying amountAmountLeveling
RMBRMBRMBRMB
5% Investor Notes due on November 8, 2025
461,494 (5,793)455,701 396,884 Level 3
Fair Value Measurements, Recurring and Nonrecurring
The following is a summary of the Company’s convertible notes payable and its fair value as of December 31, 2023.
Fair value
Principal amountUnamortized debt issuance costsNet carrying amountAmountLeveling
RMBRMBRMBRMB
5% Investor Notes due on November 8, 2025
461,494 (5,793)455,701 396,884 Level 3