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Fair Value Measurement | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurement | 14. FAIR VALUE MEASUREMENT Measured or disclosed at fair value on a recurring basis The Group measures variable rate financial instruments and equity securities with readily determinable fair value at fair value on a recurring basis in accordance with ASC 820-10. Equity securities with readily determinable fair value classified within Level 1 are valued using quoted market prices currently available. Variable rate financial instruments classified within Level 2 are valued using directly or indirectly observable inputs in the market place. As of December 31, 2021 and 2022, information about inputs for the fair value measurements of the Group’s assets that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:
|  |  |  |  | Fair Value Measurement at Reporting Date Using |
Description |  | Fair value as of December 31, 2021 |  |  | Quoted Prices in Active Market for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |
Variable rate financial instruments |  |  | 184,159 |  |  |  | — |  |  |  | 184,159 |  |  |  | — |
Total |  |  | 184,159 |  |  |  | — |  |  |  | 184,159 |  |  |  | — |
|  |  |  |  | Fair Value Measurement at Reporting Date Using |
Description |  | Fair value as of December 31, 2022 |  |  | Quoted Prices in Active Market for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |
Variable rate financial instruments |  |  | 70,542 |  |  |  | — |  |  |  | 70,542 |  |  |  | — |
Long-term investments |  |  |  |  |  |  |  |  |  |  |  |
Equity securities with readily determinable fair value |  |  | 12,622 |  |  |  | 12,622 |  |  |  | — |  |  |  | — |
Total |  |  | 83,164 |  |  |  | 12,622 |  |  |  | 70,542 |  |  |  | — |
Measured or disclosed at fair value on a non-recurring basis The Group measures long-term investments (excluding the equity securities with readily determinable fair values) at fair value on a nonrecurring basis whenever events or changes in circumstances indicate that the carrying value may no longer be recoverable. Refer to Note 8 for impairment on long-term investments.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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