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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Taxes |
Summary of current and deferred components of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | RMB | ​ | RMB | ​ | RMB
Current income tax |  | 3,974 |  | 1,150 |  | 2,697
Deferred income tax |  | (224,961) |  | 21,826 |  | (2,142)
Income tax (benefit)/expense |  | (220,987) |  | 22,976 |  | 555
Summary of reconciliation between the income tax (benefit)/expense computed by applying the EIT tax rate to (loss)/profit before income tax and income tax expense/(benefit) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Year ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | RMB | ​ | RMB | ​ | RMB
(Loss)/profit before income tax | ​ | (1,795,067) |  | 630,693 |  | 164,240
Tax benefit at EIT tax rate of 25%(1) | ​ | (448,767) |  | 157,673 |  | 41,044
Expenses not deductible for tax purposes |  | 52,051 |  | 23,294 |  | 108
Research and development super deduction |  | (37,492) |  | (43,017) |  | (55,169)
Effect of different tax rates of subsidiaries operating in other jurisdictions |  | 4,149 |  | 3,192 |  | 5,653
Effect of PRC preferential tax rates |  | 52,502 |  | (46) |  | 25,534
Changes in valuation allowance |  | 156,570 |  | (118,120) |  | (16,615)
Income tax (benefit)/expense |  | (220,987) |  | 22,976 |  | 555
(1) | The Group’s major operations during the years ended December 31, 2021, 2022 and 2023 were conducted in PRC. Accordingly, the Group prepared its tax rate reconciliation starting with the PRC statutory tax rate during the years ended December 31, 2021, 2022 and 2023.
Summary of deferred tax assets and deferred tax liabilities | ​
​ | ​ | ​ | ​ | ​
​ |  | As of December 31,
​ |  | 2022 |  | 2023
​ | ​ | RMB | ​ | RMB
Deferred tax assets | ​ |  |  |
Deductible advertising expenses exceeding the tax limit(2) | ​ | 18,945 |  | 6,988
Accrued expenses | ​ | 50,516 |  | 54,496
Other deductible expenses exceeding the tax limit(2) | ​ | 448 |  | —
Provisions for the prepayments and other non-current assets | ​ | 14,761 |  | 16,212
Operating loss carry forward and others | ​ | 431,335 |  | 472,608
Less: valuation allowances | ​ | (378,815) |  | (378,851)
Total deferred tax assets | ​ | 137,190 |  | 171,453
​ | ​ | ​ | ​ | ​
Deferred tax liabilities | ​ |  |  |
Intangible assets | ​ | 13,551 |  | 43,801
Contract assets | ​ | 138,419 |  | 176,767
Advance from customer | ​ | 8,757 |  | —
Total deferred tax liabilities | ​ | 160,727 |  | 220,568
​
​ | ​ | ​ | ​ | ​
​ |  | As of December 31,
​ |  | 2022 |  | 2023
​ | ​ | RMB | ​ | RMB
Classification in the consolidated balance sheets: | ​ |  |  |
Deferred tax assets | ​ | 6,166 |  | 24,190
Deferred tax liabilities | ​ | 29,703 |  | 73,305
(2) | Deferred income tax assets are recognized for advertising expenses and other deductible expenses that exceeds the tax deduction limit in a particular tax year to the extent that the realization of the related tax benefits through future taxable income is probable. Advertising expenses carry-forwards are permanently available for use by the Group. Other deductible expenses (mainly charitable donations) carry forwards generally expire within 3 years.
Summary of valuation allowance | ​
​ | ​ | ​ | ​ | ​
​ |  | As of December 31,
​ |  | 2022 |  | 2023
​ | ​ | RMB | ​ | RMB
Balance at the beginning of the year | ​ | 499,090 |  | 378,815
Additions | ​ | 25,295 |  | 47,941
Reversals | ​ | (145,570) |  | (47,905)
Balance at end of the year | ​ | 378,815 |  | 378,851

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