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Prepayments and other current assets
 12 Months Ended
Dec. 31, 2016
Prepayments and other current assets [Abstract]  
Prepayments and other current assets
5. Prepayments and other current assets
 
Prepayments and other current assets consist of the following:
 
 
 
As of December 31,
 
 
 
2015
 
2016
 
 
 
RMB
 
RMB
 
 
 
 
 
 
 
 
 
Rebate (1)
 
 
72,940
 
 
69,464
 
Deposits (2)
 
 
5,354
 
 
6,407
 
Prepayment to agent for share repurchase program
 
 
5,521
 
 
-
 
Value-added tax (“VAT”) recoverable
 
 
12,467
 
 
11,522
 
Employee advances (3)
 
 
2,104
 
 
1,073
 
Prepaid expenses
 
 
4,131
 
 
11,648
 
Receivables from third-party payment processing agencies (4)
 
 
645
 
 
151
 
Others
 
 
8,960
 
 
8,230
 
 
 
 
 
 
 
 
 
Prepayment and other current assets
 
 
112,122
 
 
108,495
 
 
(1)
Rebate represents amounts payable earned and receivable from suppliers upon reaching minimum purchase thresholds for a specified period. The rebates can be used to offset future purchases with the same supplier.
 
 
(2)
Deposits represent rental deposits and deposits paid to third-party vendors.
 
 
(3)
Employee advances represent cash advanced to online store managers for store daily operation, such as online store promotion activities.
 
 
(4)
Receivables from third-party payment processing agencies represent cash that were received from customers but held by the processing agencies as of December 31, 2016. The receivables were collected by the Group subsequent to the year end.