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Customers' refundable fees
 12 Months Ended
Dec. 31, 2019
Customers' refundable fees  
Customers' refundable fees

11.    Customers’ refundable fees

 

 

 

 

 

 

 

 

 

 

As of December 31, 

 

 

2017

 

2018

 

2019

 

    

RMB

    

RMB

    

RMB

Balance at beginning of year

 

76,625

 

58,878

 

41,697

Cash received from customers

 

797,529

 

554,539

 

409,781

Cash refunded to customers

 

(160,653)

 

(36,136)

 

(85,227)

Revenue recognized

 

(654,623)

 

(535,584)

 

(321,335)

Balance at end of year

 

58,878

 

41,697

 

44,916

 

Customers’ refundable fees represent the commission income received in advance (see note 2(s)).