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Long-Term Investments | 12 Months Ended
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Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Long-Term Investments | 8. LONG-TERM INVESTMENTS
|  | As of December 31, |
|  | 2021 |  |  | 2022 |
|  | RMB |  |  | RMB |
Equity method investments |  |  | 54,844 |  |  |  | 60,891 |
Equity securities with readily determinable fair values |  |  | — |  |  |  | 12,622 |
Total |  |  | 54,844 |  |  |  | 73,513 |
The Group made investments in three limited partnerships and four private companies, and accounts for these investments under the equity method because the Group has the ability to exercise significant influence but does not have control over the investees. The Group reviewed the investments for impairment whenever an event or circumstance indicates that an other-than-temporary impairment has occurred. The Group recorded its shares of gain at RMB 1,349, loss at RMB 4,886 and gain at RMB 6,453 in these investments for the years ended December 31, 2020, 2021 and 2022, respectively. The Group recorded RMB 882, RMB 5,000, and RMB 500 impairment loss for its long-term investments for the years ended December 31, 2020, 2021, and 2022, respectively. In 2022, the Group made investments in several listed companies and accounted for these investments under equity securities with readily determinable fair value. The Group recognized loss of RMB 391 due to the fair value change and recorded in other income, net in the consolidated statements of operations for the year ended December 31, 2022. The long-term investment committed but not yet paid amounted to RMB 3,715 as of December 31, 2022.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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