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v3.25.1

Intangible assets, net | 12 Months Ended
--- | ---
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible assets, net | Intangible assets, net Intangible assets, net consisted of the following:
| As of December 31,
| 2023 |  | 2024
| RMB |  | RMB
Software | 121,950 |  |  | 164,369 |
Distribution and licensing rights | 143,725 |  |  | 185,363 |
Trademark | 139 |  |  | 270 |
Patent | 2,655 |  |  | 2,655 |
Developed technology (refer to Note 3.c) | — |  |  | 138,569 |
Intangible assets | 268,469 |  |  | 491,226 |
Less: accumulated amortization | (86,183) |  |  | (177,871) |
Less: impairment | (2,945) |  |  | (3,578) |
Intangible assets, net | 179,341 |  |  | 309,777 |
In November 2023, the Group entered into a licensing agreement with Hubei Xingji Meizu Group Co., Ltd., (“Xingji Meizu”), a related party. Pursuant to the licensing agreement, the Group obtained a non-exclusive license under certain software of Xingji Meizu to develop and sell this software worldwide for three years. The consideration is due by instalment in three years of RMB50,000 each year. The Group recognized RMB143,725 software license rights based on the present value of the consideration and amortized it over three years. Amortization of intangible assets was allocated as follows:
| Year ended December 31,
| 2022 |  | 2023 |  | 2024
| RMB |  | RMB |  | RMB
Cost of revenues | — |  |  | 7,985 |  |  | 48,160 |
Selling, general and administrative expenses | 9,987 |  |  | 10,047 |  |  | 8,882 |
Research and development expenses | 14,045 |  |  | 13,808 |  |  | 34,422 |
Total depreciation expenses | 24,032 |  |  | 31,840 |  |  | 91,464 |
Impairment loss on obsolete and damaged intangible assets was allocated as follows:
| Year ended December 31,
| 2022 |  | 2023 |  | 2024
| RMB |  | RMB |  | RMB
Selling, general and administrative expenses | — |  |  | 2,662 |  |  | 648 |
Research and development expenses | — |  |  | 283 |  |  | — |
Total impairment loss | — |  |  | 2,945 |  |  | 648 |
Estimated amortization expenses relating to the existing intangible assets with finite lives for the next five years is as follows:
| As of December 31,
| RMB
2025 | 101,054 |
2026 | 85,668 |
2027 | 30,450 |
2028 | 18,220 |
2029 | 17,934 |

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