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Related Party Balance and Transactions
12 Months Ended
Dec. 31, 2019
Related Party Balance and Transaction  
Related Party Balance and Transaction

20.    Related Party Balance and Transactions

During the years ended December 31, 2017, 2018 and 2019, the Group had the following material related party transactions with its equity method investees and affiliates:

 

 

 

 

 

 

 

 

 

 

For the year ended

 

 

December 31, 

 

 

2017

 

2018

 

2019

 

    

RMB

    

RMB

    

RMB

Transactions with related parties

 

 

 

  

 

  

(1) Base commission income and Sales incentive income shared with related parties under Self-Commitment and Non-Group Collaborative Agreements (see note 12(3))

 

 

 

  

 

  

Gefei Wenqin

 

24,656

 

 —

 

 —

Gefei Chengyun

 

17,231

 

 —

 

 —

Jiushen

 

1,850

 

 —

 

 —

Jiufeng

 

9,999

 

 —

 

 —

Jiusheng

 

 —

 

16,985

 

261

Jiuchuan

 

1,566

 

13,428

 

12,727

Jiuyi

 

 —

 

 —

 

10,934

Decheng

 

 —

 

585

 

2,957

Tianye

 

 —

 

3,673

 

8,836

Qianli

 

 —

 

11,189

 

 —

Yunde

 

 —

 

 —

 

11,622

Detong

 

 —

 

 —

 

3,538

Qixing

 

 —

 

 —

 

2,576

Jiuzhen

 

 —

 

 —

 

5,074

Deyan

 

 —

 

 —

 

15,270

 

 

55,302

 

45,860

 

73,795

 

Under the respective Non-Group Commitment Agreements, the equity method investees above are parties under tri-party agreements pursuant to which they directly advanced the deposits to the real estate developers for the year ended December 31, 2018 and 2019.

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 

 

 

2017

 

2018

 

2019

 

    

RMB

    

RMB

    

RMB

(2) Base commission income shared with related party under Exclusive Sales Contracts without Sales Commitment Arrangement

 

  

 

  

 

  

Derong

 

 —

 

 —

 

11,414

 

 

 —

 

 —

 

11,414

 

 

 

 

 

 

 

Total

 

55,302

 

45,860

 

85,209

 

During the year ended December 31, 2019, Derong entered an Exclusive Sales Contracts which is required to directly advance deposit to the real estate developers while neither the Group nor Derong is required to purchase any unsold unit of properties at the end of the exclusive sales period.

 

During the year ended December 31, 2019, a company owned by one of the founder’s spouse, and one of the Company’s equity method investment, Jiushi, pledged their real estate properties as collateral of the bank borrowings of the Group (see note 10).

 

As further described in note 2(s), during the year ended December 31, 2019, the Group recognized revenue of RMB28,877 related to parking space transaction facilitating services provided to Shenzhen Jinyiyun and the relevant real estate agents. Certain directors and management of the Company are principal shareholders of Shenzhen Jinyiyun.

 

 

 

 

 

 

 

 

As of December 31, 

 

 

2018

 

2019

 

    

RMB

    

RMB

Amounts due to related parties

 

  

 

  

(1) Payables for income shared under Self-Commitment and Non-Group Collaborative  Agreements (see note 12(3))

 

  

 

  

Gefei Chengyun

 

11,374

 

10,759

Jiushen

 

1,263

 

1,263

Jiufeng

 

1,769

 

301

Jiusheng

 

19,912

 

 2

Jiuchuan

 

13,428

 

11,154

Jiuyi

 

 —

 

13,190

Decheng

 

479

 

3,029

Tianye

 

3,673

 

11,382

Qianli

 

10,581

 

 —

Yunde

 

 —

 

9,730

Detong

 

 —

 

3,538

Qixing

 

 —

 

2,464

Jiuzhen

 

 —

 

2,348

Tianlin

 

 —

 

3,219

Deyan

 

 —

 

6,893

Jiushi

 

 —

 

15

 

 

62,479

 

79,287

 

 

 

 

 

(2) Payables for funds provided under Self-Commitment Collaborative Agreements (see note 12(3))

 

  

 

  

Jiusheng

 

34,714

 

 —

 

 

34,714

 

 —

 

 

 

 

 

 

 

 

As of December 31, 

 

 

2018

 

2019

 

    

RMB

    

RMB

(3) Payables for Base Commission Income shared with related party under Exclusive Sales Contracts without Sales Commitment Arrangement

 

 

 

 

Derong

 

 —

 

11,414

 

 

 —

 

11,414

 

 

 

 

 

(4) Other payables

 

 

 

 

Amount due to Jiushen

 

 —

 

2,909

Amount due to Jiuyi

 

 —

 

6,690

Shanghai Chongkai Enterprise Management
(LLP) ("Chongkai")

 

 —

 

5,085

 

 

 —

 

14,684

 

 

 

 

 

Total

 

97,193

 

105,385

 

Geifei Wenqin, Jiuchuan, Jiuyi, Decheng, Tianye, Qianli, Yunde, Gefei chengyun, Jiushen, Detong, Derong, Qixing, Jiuzhen, Deyan and Jiushi are equity method investees of the Group.

Jiusheng and Jiufeng are subsidiaries of Jiushen.

Chongkai is a company owned by two of the founders and certain management of the Group.