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ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Summary of accounts receivable

Accounts receivable consists of the following:

		As of December 31,
		2019				2020
		RMB				RMB
Accounts receivable:
Receivables for loan facilitation and post-origination service    from borrowers			170,898				—
Receivables for loan referral service from institutional funding    partners			28,945				109,910
Less: allowance for credit losses			(60,679	)			—
Total accounts receivable			139,164				109,910

Summary of movement of allowance for uncollectible receivables

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

						Year ended December 31,
		2018				2019				2020
		RMB				RMB				RMB
Balance at the beginning of the year			—				28,014				60,679
Current year credit losses			51,430				144,636				49,231
Current year write off			(23,416	)			(111,971	)			(109,910	)
Balance at end of the year			28,014				60,679				—

Summary of Contract Assets

Contract assets consists of the following:

		As of December 31,
		2019				2020
		RMB				RMB
Contract assets			—				48,154
Less: Allowance for credit losses			—				—
Contract assets, net			—				48,154

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447

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- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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- References

No definition available.

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X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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