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Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related party transactions
11.Related party transactions

 

The table below sets forth the major related parties and their relationships with the Group as of December 31, 2024 and 2025:

 

Names of related parties (in English)   Relationship
Xiamen Yinshan Longchang Investment Partnership (Limited Partnership) Shareholder of the Company
Cheng’s Investment Group Co., LTD. (Hainan) Shareholder of the Company
Tianjiu Shared Intelligent Enterprise Service Shareholder of the Company
Zhang Andong BoD Chairman and General Manager of Lianzhang Menhu
Xiamen Yiju Tianxia Investment Partnership (Limited Partnership) Shareholder of the Company
Xiamen Qiushi Intelligent Network Equipment Co., LTD 80% owned by Zhang Andong
Fujian Qiushi Intelligent Co., LTD Share key management team
Xiamen Qiushi Intelligent Network Technology Co., LTD Share key management team
Zhang Hongwei Brother in law of Zhang Andong.
Xiamen Rongguang Information Technology Co., Ltd. 95% owned by Zhang Hongwei
Fujian Henduoka Network Technology Co., Ltd.95% owned by Xiamen Rongguang Information Technology Co., Ltd.
Xiamen Xueyoubang Network Technology Co. 5% hold by Zhang Hongwei
Xiamen Qiushi intelligence software co., LTD 80% owned by Zhang Andong
Xiamen Dongling Weiye investment partnership (limited partnership) Shareholder of the Company
Xiamen Zhanghui investment co., LTD Shareholder of Lianzhang New Community Construction and Development (Jiangsu) Co.
Zhang Runzhe Chief Executive Officer of LZ Technology
Bengbu Yigong Digital Technology Co., Ltd. Shareholder of the Company
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd. Shareholder of Fujian Meilishuo International Travel Agency Co., Ltd.

  

The following table sets forth the major related parties and the Group’s transactions with them for the years ended December 31, 2023, 2024 and 2025:

 

(a) Collections from related parties

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Xueyoubang Network Technology Co.  -   7,519   63,007 
Fujian Qiushi Intelligent Co., LTD  80,160   30,005   31,662 
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd.  -   -   5,452 
Xiamen Qiushi Intelligent Network Technology Co., LTD  83   231   4,273 
Fujian Henduoka Network Technology Co., Ltd.  5,468   -   1,194 
Bengbu Yigong Digital Technology Co., Ltd.  -   1,453   330 
Cheng’s Investment Group Co., LTD. (Hainan)  5,800   5,000   - 
Xiamen Yingshan Longchang Investment Partnership (L.P.)  3   -   - 
Total  91,514   44,208   105,918 

 

(b) Loans from related parties

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Qiushi Intelligent Network Technology Co., LTD  1,450   -   1,100 
Xiamen Xueyoubang Network Technology Co.  4,000   -   600 
Fujian Qiushi Intelligent Co., LTD  8,480   -   47 
Xiamen Qiushi Intelligent Network Equipment Co., Ltd.  61   25   - 
Zhang Andong  -   64   - 
Xiamen Dongling Weiye Investment Partnership (L.P.)  8,400   -   - 
Xiamen Qiushi Intelligent Software Co., Ltd.  500   -   - 
Total  22,891   89   1,747 

 

(c) Repayment of loans to related parties

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Qiushi Intelligent Network Technology Co., LTD  1,620   1,975   1,100 
Xiamen Xueyoubang Network Technology Co.  4,000   -   600 
Xiamen Qiushi Intelligent Network Equipment Co., LTD  -   33   84 
Zhang Andong  -   -   64 
Fujian Qiushi Intelligent Co., Ltd.  8,480   -   - 
Xiamen Qiushi Intelligent Software Co., Ltd.  500   -   - 
Xiamen Dongling Weiye Investment Partnership (L.P.)  8,400   -   - 
Liu Jun  27   -   - 
Total  23,027   2,008   1,848 

 

(d) Loans to related parties

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Xueyoubang Network Technology Co.  6,240   6,718   72,966 
Fujian Qiushi Intelligent Co., LTD  95,305   30,613   36,829 
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd.  -   -   8,756 
Xiamen Qiushi Intelligent Network Technology Co., LTD  314   2,777   2,938 
Bengbu Yigong Digital Technology Co., Ltd.  -   2,024   761 
Chengshi Investment Group Co., Ltd. (Hainan)  10,800   -   - 
Fujian Henduoka Network Technology Co., Ltd.  3,870   -   - 
Total  116,529   42,132   122,250 

 

(e) Purchases from related Parties

 

Equipment Purchases and Maintenance Services

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Qiushi Intelligent Network Technology Co., LTD  3,049   374   2,359 
Total  3,049   374   2,359 

 

Subcontracting Costs 

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party                        
Xiamen Xueyoubang Network Technology Co., Ltd.  28,200   -   - 
Total  28,200   -   - 

 

Service Fees Paid to Related Parties

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd.  -   -   28,459 
Fujian Henduoka Network Technology Co., Ltd.  256   32   - 
Bengbu Yigong Digital Technology Co., Ltd.  -   926   - 
Total  256   958   28,459 

 

(f) Rent, utilities and cleaning fees

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Qiushi Intelligent Network Equipment Co., LTD  743   825   345 
Total  743   825   345 

 

(g) Share Transfer

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Zhanghui investment co., LTD  -   (4,588)  (4,558)
Total  -   (4,588)  (4,558)

 

Please refer to Note 9 (2) for more details.

 

(h) Payment on Behalf for Equity Transfer

 

   For the years ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Related Party            
Xiamen Zhanghui investment co., LTD  -   12,865   1,407 
Total  -   12,865   1,407 

 

Please refer to Note 9 (2) for more details.

 

(i) Related party balances

 

Accounts payable- a related party

 

      As of December 31, 
      2024   2025 
      RMB   RMB 
Related Party  Nature        
Xiamen Qiushi Intelligent Network Technology Co., Ltd. Purchase of goods and services  (1,089)  (3,899)
Accounts payable- a related party    (1,089)  (3,899)

 

Due from related parties

   

      As of December 31, 
      2024   2025 
      RMB   RMB 
Related Party  Nature        
Fujian Qiushi Intelligent Co., Ltd. Loan to related parties  15,752   20,921 
Xiamen Xueyoubang Network Technology Co., Ltd. Loan to related parties  5,438   15,396 
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd. Loan to related parties  -   5,029 
Bengbu Yigong Digital Technology Co., Ltd. Loan to related parties  571   1,003 
Xiamen Qiushi Intelligent Network Technology Co., Ltd. Loan to related parties  2,777   700 
Fujian Henduoka Network Technology Co., Ltd. Loan to related parties  1,194   - 
Xiamen Zhanghui investment co., LTD Share Transfer  3,152   2,127 
Bengbu Yigong Digital Technology Co., Ltd. Service and commodity purchase from related parties  445   445 
Xiamen Qiushi Intelligent Network Technology Co., Ltd. Service and commodity purchase from related parties  -   2,701 
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd. Service and commodity purchase from related parties  -   1,392 
Xiamen Qiushi Intelligent Network Equipment Co., Ltd. Service and commodity purchase from related parties  129   - 
Fujian Henduoka Network Technology Co., Ltd. Fee collection on behalf of the Company  505   - 
Total due from related parties    29,963   49,714 

 

Due to related parties

 

      As of December 31, 
      2024   2025 
      RMB   RMB 
Related Party  Nature        
Zhang Andong Loan from related parties  (64)  - 
Xiamen Qiushi Intelligent Network Equipment Co., LTD Loan from related parties  (84)  - 
Zhang Andong Expenses paid on behalf of the Company  -   (92)
Fujian Qiushi Intelligent Co., LTD Loan from related parties  -   (47)
Fujian Qiushi Intelligent Co., LTD Expenses paid on behalf of the Company  (1)  - 
Xiamen Qiongding Phoenix Aviation Tourism Services Co., Ltd. Service and commodity purchase from related parties  -   (457)
Tianjiu Shared Intelligent Enterprise Service Service and commodity purchase from related parties  (48)  - 
Xiamen Qiushi Intelligent Network Equipment Co., LTD Service and commodity purchase from related parties  -   (6)
Fujian Henduoka Network Technology Co., Ltd. Service and commodity purchase from related parties  (32)  - 
Total due to related parties    (229)  (602)

 

The amounts due to related parties in the table above are unsecured interest-free and repayable on demand.

 

(b)Guarantee

 

On August 3, 2022, Zhang Andong, Zhang Hongling, Xiamen Lianzhang Media Co.,Ltd and Xiamen Lianzhanghui Intelligent Technology Co.,Ltd. provided joint guarantees for the loans and borrowings of Fujian Qiushi Intelligent from July 25, 2022 to July 25, 2025. The total principal amount of the creditor’s rights does not exceed the credit limit of RMB5,000 provided by the creditor to the debtor (the maximum amount including interest, liquidated damages, compensation and other amounts of the creditor’s rights is RMB7,500).

 

On August 15, 2022, Fujian Qiushi Intelligent withdrew RMB 5,000 from the line of credit, which was fully repaid. On September 5, 2023, Fujian Qiushi Intelligent borrowed RMB5,000 from Xiamen Bank, within one-year term maturing on September 5, 2024. On September 2, 2024, Fujian Qiushi Intelligent extended the loan again and repaid RMB500, resulting in an outstanding loan balance of RMB4,500 with a new maturity date of July 25, 2025. Repayments of RMB200, RMB150, RMB150 and RMB4,000 were made on December 2, 2024, March 2, 2025, June 2, 2025 and July 24, 2025, respectively. As of December 31, 2025, the loan was fully settled thereafter.

 

On November 2, 2022, Zhang Andong, Xiamen Qiushi Intelligent Network Equipment Co., LTD, and Xiamen Lianzhanghui Intelligent Technology Co.,Ltd. provided joint guarantees for the loans and borrowings of Fujian Qiushi Intelligent from November 4, 2022 to November 4, 2025. The total principal amount of the creditor’s rights does not exceed the credit limit of RMB10,000 provided by the creditor to the debtor.

 

Fujian Qiushi drew RMB10,000 from international Bank under this facility in 2023 and repayments were made as follows: RMB500 on June 6, 2024; RMB500 on September 6, 2024; and RMB9,000 on October 31, 2024. On October 31, 2024, Fujian Qiushi Intelligence renewed its borrowing from the international bank with a new loan of RMB8,500, valid until March 6, 2025. During the year ended December 31, 2025, Fujian Qiushi Intelligent repaid RMB500 and RMB8,000 to International Bank on February 1, 2025, and March 6, 2025, respectively. On March 6 and March 7, 2025, Fujian Qiushi Intelligence obtained two new loans of RMB4,000 each from International Bank again. Repayments of RMB500, RMB500, RMB500, RMB500 and RMB6,000 were made on June 6, 2025, June 7, 2025, September 6, 2025, September 7, 2025 and November 3,2025, respectively. As of December 31, 2025, the loan was fully settled.

 

On July 18, 2025, Lianzhang Media Co.,Ltd and Xiamen Lianzhang Media Co.,Ltd provided guarantee for the loans and borrowings of Fujian Qiushi Intelligent from July 18, 2025 to July 18, 2035. The total principal amount of the creditor’s rights does not exceed the credit limit of RMB15,600 provided by the creditor to the debtor. On August 29, 2025, Fujian Qiushi drew RMB7,800 from Xiamen Bank under this facility and the maturity date is August 29, 2026.