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Short-Term and Long-Term Borrowings | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Short-Term and Long-Term Borrowings | 12. SHORT-TERM AND LONG-TERM BORROWINGS
|  | Fixed annual interest rate |  | Term |  |  | As of December 31, |
|  | 2023 |  |  | 2024 |
|  |  |  |  |  |  | RMB |  |  | RMB |
Short-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured bank loans |  | 3.35%-3.60% |  |  | Within 12 months |  |  |  | — |  |  |  | 110,000 |
Unsecured bank loans |  | 3.10%-3.15% |  |  | Within 12 months |  |  |  | 39,800 |  |  |  | — |
Current portion of long-term borrowings |  | 3.30%-4.20% |  |  | Mature in 2025 |  |  |  | 7,000 |  |  |  | 53,000 |
|  |  |  |  |  |  | 46,800 |  |  | 163,000 |
Long-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured bank loan (1) |  | 3.45%-3.65% |  |  | 1-2 years |  |  |  | 78,500 |  |  |  | 73,500 |
Unsecured bank loan (2) |  | 3.40%-4.20% |  |  | 1-2 years |  |  |  | 147,500 |  |  |  | 105,000 |
Less: current portion of long-term borrowings |  | 3.30%-4.20% |  |  | Mature in 2025 |  |  |  | (7,000 | ) |  |  | (53,000 | )
|  |  |  |  |  |  | 219,000 |  |  | 125,500 |
(1) | On April 27, 2023, the Group entered into one secured bank loan of RMB 80,000 which was guaranteed by the Founder of the Group with annual payment schedule of RMB 1,500, RMB 2,000 and RMB 76,500 in 2023, 2024 and 2025, respectively. The Group repaid RMB 1,500 during the year ended December 31, 2023 when the installment became due. In May 2024, the Company made early repayment of the full remaining balance, and refinanced a new secured bank loan of RMB 75,000 with annual payment schedule of RMB 1,500, RMB 2,000 and RMB 71,500 in 2024, 2025 and 2026, respectively. The new loan is also guaranteed by the Founder of the Group. The Group repaid RMB 1,500 during the year ended December 31, 2024 when the installment bec a me due. In February 2025, the Group made early repayment of the entire remaining balance.
(2) | On April 24, 2023, the Group entered into one unsecured bank loan of RMB 50,000 with annual payment schedule of RMB 2,500, RMB 5,000 and RMB 42,500 in 2023, 2024 and 2025, respectively. The Group repaid RMB 2,500 and RMB 5,000 during the years ended December 31, 2023 and 2024, respectively, when the installment became due. In February 2025, the Group made early repayment of the remaining balance.
Then on December 27, 2023, the Group entered into another two unsecured bank loans with the same bank in total amount of RMB 100,000, both of which are due in June 2025. In 2024, the Group made early repayment of the balance. On April 19, 2024, the Group entered into one unsecured bank loan of RMB 43,000 with annual payment schedule of RMB 3,000 and RMB 40,000 in 2025 and 2026, respectively. The Group repaid RMB 3,000 in April 2025 when the installment became due. On June 26, 2024, the Group entered into one unsecured bank loan of RMB 10,000 with annual payment schedule of RMB 500, RMB 3,500 and RMB 6,000 in 2024, 2025 and 2026, respectively. The Group repaid RMB 500 during the year ended December 31, 2024, when the installment became due. On July 31, 2024, the Group entered into one unsecured bank loan of RMB 10,000 with annual payment schedule of RMB 2,000 and RMB 8,000 in 2025 and 2026, respectively. The combined aggregate amount of maturities for all long-term borrowings for each of the five years following December 31, 2024 as follows:
|  | Long-term borrowings |
|  | RMB |
2025 |  |  | 53,000 |
2026 |  |  | 125,500 |
The weighted average interest rates for the outstanding borrowings were approximately 3.88% and 3.68% as of December 31, 2023 and 2024, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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