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LOANS RECEIVABLE, NET
12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
LOANS RECEIVABLE, NET

4.

LOANS RECEIVABLE, NET

 

The loans receivable, net consists of the following:

 

 

 

As of December 31,

 

 

 

2019

 

 

2020

 

 

 

RMB

 

 

RMB

 

Loans receivable

 

 

 

 

 

58,996

 

Allowance for credit losses

 

 

 

 

 

(27,700

)

Loans receivable, net

 

 

 

 

 

31,296

 

 

The following table summarizes the balances of loans receivable by due date as of December 31, 2019 and 2020.

 

 

 

As of December 31,

 

 

 

2019

 

 

2020

 

 

 

RMB

 

 

RMB

 

Undue

 

 

 

 

 

23,107

 

1-14 days past due

 

 

 

 

 

1,412

 

15 days or greater past due

 

 

 

 

 

6,777

 

Loans receivable, net

 

 

 

 

 

31,296

 

 

The movement of the allowance for credit losses for the years ended December 31, 2018, 2019 and 2020 are as follows:

 

 

Year ended December 31,

 

 

 

2018

 

 

2019

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

RMB

 

Balance at beginning of the year

 

 

 

 

 

 

 

 

 

Current year credit losses

 

 

 

 

 

 

 

 

(27,498

)

Foreign currency exchange

 

 

 

 

 

 

 

 

(202

)

Balance at end of the year

 

 

 

 

 

 

 

 

(27,700

)