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Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and contingencies

Schedule of capital expenditures contracted

​

​	​	​	​	​
​	​	As of December 31,
​	​	2022	​	2023
​		RMB		RMB
Contracted but not provided for:	​	​	​	​
A planned factory construction project(i)		273,083		173,418
Construction commitments		—		71,395
Assets under construction		1,725		45
Total		274,808		244,858

(i) The Group plans to construct a factory to manufacture their selected self-branded products, such as fasteners, located on a parcel of land in Taicang, Jiangsu Province to which the Group acquired the land use rights. In accordance with the land use rights agreement, at least RMB273,083 capital expenditures in connection with such construction plan is committed by the Group. The Group commenced the construction in the second quarter of 2023 and plans to complete the construction by the end of 2024.

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- Definition

Tabular disclosure of key provisions of an arrangement under which the entity has agreed to purchase goods or services over a period of time greater than one year or the normal operating cycle, if longer, including the item for which expenditures will be made, minimum quantities, milestones, time period and committed amount.

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