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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Summary of income tax expense

Income tax expense consists of the following:

		Year ended December 31,
		2018				2019				2020
		RMB				RMB				RMB
Current income tax expense:			111,552				168,924				83,216
Deferred income tax (benefit) expense:			(17,637	)			(131,917	)			25,595
Total income tax expense			93,915				37,007				108,811

Summary of significant components of deferred tax assets and deferred tax liabilities

The following table sets forth the significant components of the deferred tax assets and deferred tax liabilities:

		As of December 31,
		2019				2020
		RMB				RMB
Deferred tax assets
Payroll and welfare payable			12,131				11,635
Accrued expenses			16,199				10,198
Allowance for uncollectible receivables, contract assets,     loans receivable and others			37,932				56,164
Net loss carryforward			13,595				13,495
Liabilities related to customer incentive			44,216				11,435
Gross deferred tax assets			124,073				102,927
Valuation allowances			(1,909	)			(4,102	)
Net deferred tax assets			122,164				98,825
Deferred tax liabilities
Uncollected revenues			(53,872	)			(57,890	)
Total deferred tax liabilities			(53,872	)			(57,890	)
Deferred tax assets, net			68,292				40,935

Summary of changes in valuation allowance

Changes in valuation allowance are as follows:

		Year Ended December 31,
		2020
		RMB
Balance at beginning of the year			(1,909	)
Additions			(2,871	)
Reversals			678
Balance at end of the year			(4,102	)

Summary of reconciliations of differences between PRC statutory income tax rate and group's effective income tax rate

10. INCOME TAXES – continued

Reconciliations of the differences between PRC statutory income tax rate and the Company’s effective income tax rate for the years ended December 31, 2018, 2019 and 2020 are as follows:

		Year Ended December 31,
		2018				2019				2020
		RMB				RMB				RMB
Statutory income tax rate			25.00	%			25.00	%			25.00	%
Non-deductible expense			2.62	%			6.66	%			2.54	%
Research and Development expense super deduction			(1.44	%)			(2.97	%)			(0.62	%)
Effect of tax holiday			(12.87	%)			(18.86	%)			(2.12	%)
Different tax rate of entities operating in other    jurisdiction			0.00	%			(0.07	%)			4.86	%
Valuation allowance			0.00	%			0.32	%			0.61	%
Change in tax rate			0.00	%			(3.13	%)			0.00	%
True up			0.00	%			(0.40	%)			0.05	%
Effective tax rate			13.31	%			6.55	%			30.32	%

Summary of effect of tax holiday

The effect of the tax holiday on the income per share is as follows:

		Year Ended December 31,
		2018				2019				2020
		RMB				RMB				RMB
Tax saving amount due to HNTE status			90,819				106,516				—
Tax saving amount due to Software enterprise			—				—				7,527
Tax expense amount due to other jurisdiction			—				(411	)			(17,405	)
Income per share effect-basic and diluted			0.45				0.50				(0.05	)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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