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GOODWILL

12 Months Ended

Dec. 31, 2020

11. GOODWILL

The goodwill of RMB210,443 and RMB213,656 (US$32,744) as of December 31, 2019 and 2020 represented the goodwill of RMB165,171 generated from the acquisition of GFMH, CMCC, SJYH and BPMC by the Group in 2018, the goodwill of RMB45,272 generated from the acquisition of Tianjin Jiatai Group by the Group in 2019, the goodwill of RMB3,213 (US$492) generated from the acquisition the New Spring Group in 2020 (Note 4).

The changes in the carrying amount of goodwill are as follow:


		For the years ended December 31,
		2018		2019		2020
		RMB		RMB		RMB		US$
Balance as of January 1		—		165,171		210,443		32,252
Addition		165,171		45,272		3,213		492
Impairment		—		—		—		—
Balance as of December 31		165,171		210,443		213,656		32,744

No impairment was recognized for the years ended December 31, 2018, 2019 and 2020.