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Short-Term and Long-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

		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 became 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.

Schedule of Amount of Maturities for All Long-term Borrowings

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

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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