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Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Assets And Liabilities Measured Or Disclosed At Fair Value

For the year ended December 31, 2021, assets measured at fair value are summarized below:

						Fair value measurement at December 31, 2021 using
		Total Fair Value at December 31, 2021				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Fair value adjustment
		RMB				RMB				RMB				RMB				RMB
Fair value measurements on a recurring basis
Derivative assets			5,989				—				5,989				—				5,989
Fair value measurement on a non-recurring basis
Equity investments accounted for at fair value using the alternative measurement (i)			585				—				—				585				(25,340	)
Total assets and liabilities measured at fair value			6,574				—				5,989				585				(19,351	)

For the year ended December 31, 2022, assets measured at fair value are summarized below:

										Fair value measurement at December 31, 2022 using
		Total Fair Value at December 31, 2022								Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Fair value adjustment
		RMB				USD				RMB				RMB				RMB				RMB
Fair value measurement on a non-recurring basis
Equity investments accounted for at fair value using the alternative measurement (i)			—				—				—				—				—				(6,726	)
Property and equipment, net (ii)			10,991				1,594				—				10,991				—				(22,400	)
Total assets and liabilities measured at fair value			10,991				1,594				—				10,991				—				(29,126	)

(i) When there is impairment of equity securities accounted for under the measurement alternative, the non-recurring fair value measurements are measured at the date of impairment. Estimating the fair value of investees without observable market prices is highly judgemental due to the subjectivity of the unobservable inputs (level 3) used in the valuation methodologies used to determine fair value. The Company recognized impairment charges of long-term investments during the years ended December 31, 2021 and 2022 based on the financial situation and expected
amount to be received upon liquidation of the equity investee.

(ii) The property and equipment impairment loss was a result of the “Going -Cloud” project undertaken, and was included in the consolidated statement of comprehensive income for the year ended December 31, 2022. The Company’s “Going-Cloud” project is a transition to use cloud based servers for a portion of our infrastructure needs, whereas the Company completely operated and maintained self-owned servers previously.

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- References

No definition available.

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