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COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

18. COMMITMENTS AND CONTINGENCIES

a)Purchase commitments

The following table sets forth the Group’s purchase obligations as of December 31, 2023:

​	​	​	​	​	​	​	​	​	​	​
​		​		Less than 1		​		​		Over 5
​	​	Total	​	Year	​	1-3 Years	​	3-5 Years	​	Years
​	​	(RMB in thousands)
Purchase commitments		5,059	​	5,059		—		—		—

​

18. COMMITMENTS AND CONTINGENCIES (Continued)

The Group’s purchase obligations represent commitment to acquire certain intellectual property rights.

b)Contingencies

The Group is currently not involved in any legal or administrative proceedings that may have a material adverse impact on the Group’s business, financial position or results of operations.

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The entire disclosure for commitments and contingencies.

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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
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