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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2023
FAIR VALUE MEASUREMENTS  
Schedule of fair value of its derivative liability on a recurring basis

The Company measured the fair value of its derivative liability on a recurring basis using significant unobservable (Level 3) inputs as of December 31, 2023.

Fair Value Measurement at the End of the Reporting Period Using

Quoted Prices in

Active

Significance

Markets for

Other

Significant

As of

Identical

Observable

Unobservable

December 31, 

Assets

Inputs

Inputs

2023

(Level 1)

(Level 2)

(Level 3)

    

RMB

    

RMB

    

RMB

    

RMB

Liability Items

 

  

  

 

  

 

  

Derivative liability:

 

163

 

 

163