Short-term

held-to-maturity

securities were mainly deposits in commercial banks with maturities less than one year and structured deposits issued by commercial banks and other financial intuitions for which the Company has the positive intent and ability to hold those securities to maturity.

Short-term investments classification as of December 31, 2020 and 2021 were shown as below:

As of December 31, 2020

Cost or
Amortized
cost

Gross
unrecognized
holding
gains

Gross
unrecognized
holding
losses

Gross
unrecognized
gains

Gross
unrecognized
losses

Fair value

RMB

Held-to-maturity

debt investments

80,000

—

80,000


	As of December 31, 2021
	Cost or Amortized cost				Gross unrecognized holding gains		Gross unrecognized holding losses		Gross unrecognized gains		Gross unrecognized losses		Fair value
	RMB		USD										RMB		USD
Held-to-maturity debt investments		30,000		4,708		—		—		—		—		30,000		4,708

As of December 31, 2020, the Company’s short-term investments comprise primarily of principal guaranteed structured deposits placed with financial institutions with maturities within twelve months and interest rates indexed to gold price. The indexation of interest rates to gold prices are considered embedded derivatives that are separated from the host contract of bank structured deposits and are recorded separately in “Derivative assets” and measured at fair value in the consolidated balance sheets. The fair value of the derivatives assets is disclosed in Note 20.

As of December 31, 2021, the Company’s short-term investments only comprises of time deposits with original maturities over three months.