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Long-Term Investments | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Long-Term Investments | 10. LONG-TERM INVESTMENTS
|  | As of December 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  |  |  |  | RMB |  |  |  |
|  | Initial cost |  |  | Net cumulative fair value adjustments |  |  | Carrying value |  |  | Initial cost |  |  | Net cumulative fair value adjustments |  |  | Carrying value |
Available-for-sale debt securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shanghai Jiayang Information System Co., Ltd (1) |  |  | 55,000 |  |  |  | 8,071 |  |  |  | 63,071 |  |  |  | 55,000 |  |  |  | 6,426 |  |  |  | 61,426 |
Guangzhou Tale Base Technology Co., Ltd (2) |  |  | 31,400 |  |  |  | 776 |  |  |  | 32,176 |  |  |  | 31,400 |  |  |  | (1,636 | ) |  |  | 29,764 |
Beijing Lingdai (3) |  |  | 31,980 |  |  |  | (6,507 | ) |  |  | 25,473 |  |  |  | 31,980 |  |  |  | (13,999 | ) |  |  | 17,981 |
Others (4) |  |  | 15,400 |  |  |  | (9,779 | ) |  |  | 5,621 |  |  |  | 20,376 |  |  |  | (15,115 | ) |  |  | 5,261 |
|  |  | 133,780 |  |  |  | (7,439 | ) |  |  | 126,341 |  |  |  | 138,756 |  |  |  | (24,324 | ) |  |  | 114,432 |
The Company’s AFS debt investments all include substantive liquidation preference and redemption provision and is redeemable at the option of the investor.
(1) | On September 28, 2021, Jiangsu Radnova entered into a share purchase agreement and a share transfer agreement to acquire 10% equity interest of Shanghai Jiayang Information System Co., Ltd (“Shanghai Jiayang”), which is principally engaged in human resource management software, at a cash consideration of RMB 55,000 (“Jiayang Investment”), and the investment is legally settled on October 13, 2021. The Company recognized unrealized gains of RMB 2,130, RMB 5,941 and an unrealized loss of RMB 1,645 in Accumulated Other Comprehensive Income for the years ended December 31, 2022, 2023 and 2024, respectively. Dividend of nil, nil and RMB 500 were declared and paid by Shanghai Jiayang during the years ended December 31, 2022, 2023 and 2024, respectively.
(2) | Jiangsu Radnova entered into a share purchase agreement and a share transfer agreement to acquire 10.02% equity interest of Guangzhou Tale Base Technology Co., Ltd (“Tale Base”), which is principally engaged in human resource management software, at a cash consideration of RMB 31,400 (“Tale Base Investment”), and the investment was legally closed on February 28, 2022. The Company recognized an unrealized loss of RMB 271 , unrealized gain of RMB 1,047 and unrealized loss of RMB 776 in Accumulated Other Comprehensive Income for the year ended December 31, 2022, 2023 and 2024, respectively. In addition, the Company recognized an impairment loss of RMB 1,636 for the difference between the fair value and amortized cost basis for the year ended December 31, 2024 as the Company has the intent to sell the impaired securities before recovery of its amortized cost basi s .
(3) | On July 1, 2021, Jiangsu Radnova entered into a share purchase agreement and a share transfer agreement to acquire 19% equity interest of Beijing Lingdai, which is principally engaged in online and offline training in finance, at a cash consideration of RMB 31,980 (“Lingdai Investment”). The Company recognized an unrealized loss of RMB 3,509 in Accumulated Other Comprehensive Income for the year ended December 31, 2022. The Company recognized an impairment loss of RMB 3,365 and RMB 7,492 in available-for-sale debt securities for the decline in fair value compared to amortized cost basis for the year ended December 31, 2023 and 2024, respectively , as the Company has the intent to sell the impaired securities before recovery of its amortized cost basis .
(4) | The Company assesses the unrealized losses of the other investments and determines that the Company has the intent to sell the impaired securities before recovery of its amortized cost basis. Thus, the Company recognized an impairment loss of RMB 9,779 and RMB 5,336 in available-for-sale debt securities as the decline in fair value for the year ended December 31, 2023 and 2024, respectively.

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