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Revenue information | 12 Months Ended
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Dec. 31, 2019
Revenue information |
Revenue information | 17. Revenue information Revenue consists of the following:
|  | For the year ended December 31,
|  | 2017 |  | 2018 |  | 2019
|  | RMB |  | RMB |  | RMB
Base commission from transactions |  | 1,652,032 |  | 2,034,115 |  | 3, 454,957
Innovation initiatives and other value-added services |  | 146,489 |  | 248,101 |  | 144, 479
|  | 1,798,521 |  | 2,282,216 |  | 3,599,436
As the Group generates substantially all of its revenues from customers domiciled in the PRC, no geographical segments are presented. All of the Group’s long-lived assets are located in the PRC. Innovation initiatives and other value-added services primarily consists of sales incentive income, franchise income, financial services income, loan facilitation services, parking space transaction services and revenue from other value-added services rendered to the Registered Agents and market participants.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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