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Equity method investment, net (Tables)

12 Months Ended

Dec. 31, 2022

Equity method investment, net

Schedule of equity method investments

​

​	​	​
Balance as of January 1, 2020		579,263
Additions	​	1,458
Share of results	​	3,970
Dividends received	​	(644)
Return of capital	​	(115,449)
Balance as of December 31, 2020		468,598
Additions		84,566
Share of results		(47)
Return of capital		(50,088)
Impairment losses		(187,329)
Disposal	​	(58,578)
Balance as of December 31, 2021		257,122
Additions		33,154
Share of results		(2,020)
Return of capital	​	(19,547)
Impairment losses		(62,623)
Balance as of December 31, 2022		206,086

​

Schedule of information pertaining to limited partnerships

​

​	​	​	​	​	​	​
​	​	​	​	Maximum	​	​
​	​	​		amount of		Maximum
​	​	Aggregated	​	additional	​	exposures to the
​	​	carrying amount	​	capital	​	losses of the
​	​	(before impairment loss)	​	commitment	​	limited
​		of the limited partnerships		(Note 23)		partnerships
​		RMB	​	RMB	​	RMB
Balance as of December 31, 2021		444,451		301,444		745,895
Balance as of December 31, 2022		454,803		300,019		754,822

​

Schedule of effective interests, additional investments into these limited partnerships and received return of capital from these limited partnerships

​

​	​	​	​	​	​
	​	As of December 31,			​
		2021		2022	​
Name of the limited partnerships	​	​	​	​	​
Shanghai Gefei Chengyun Investment Center Limited Partnership (“Gefei Chengyun”)		20	%	20	%
Ningbo Meishan Jiushen Investment Limited Partnership (“Jiushen”)		12	%	12	%
Tibet Shiguan Business Management Limited Partnership (“Shiguan”)		27.6	%	27.6	%
Ningbo Meishan Jiuchuan Investment Limited Partnership (“Jiuchuan”)		10	%	10	%
Ningbo Meishan Decheng Investment Limited Partnership (“Decheng”)		2	%	2	%
Yiwu Longshu Tianye Investment Management Limited Partnership (“Longshutianye”)		26	%	26	%
Yiwu Longshu Qianli Investment Management Limited Partnership (“Longshuqianli”)		16	%	16	%
Jiuyi		—	*	—	*
Ningbo Meishan Jiuzhen Investment Limited Partnership (“Jiuzhen”)		20	%	20	%
Yunde		20	%	20	%
Ningbo Meishan Deyan Investment Limited Partnership (“Deyan”)		20	%	20	%
Ningbo Meishan Detong Investment Limited Partnership (“Detong”)	​	40	%	40	%
Ningbo Meishan Derong Investment Limited Partnership (“Derong”)	​	37	%	37	%
Ningbo Meishan Jiushi Investment Limited Partnership (“Jiushi”)	​	40	%	40	%
Ningbo Meishan Qixing Management Limited Partnership (“Qixing”)	​	15.7	%	15.7	%
Shanghai Ruokun Management Limited Partnership (“Ruokun”)	​	20	%	20	%
Deyu	​	—	*	—	*
Hangzhou Honggeng Investment Limited Partnership (“Honggeng”)	​	20	%	20	%
Shenzhen Jiaxinda No.3 Investment Limited Partnership(“Jiaxinda”)	​	10	%	10	%
Shanghai Fangjin Management Limited Partnership (“Fangjin”）	​	49	%	49	%
Muju	​	30	%	30	%
​	​	​	​	​	​
Name of other equity method investees	​	​	​	​	​
Shenzhen Chenji Zhaozhao Technology Co., Ltd(“Chenji Zhaozhao”)	​	—	​	30	%**
Shanghai Tinghaozhu Space Design Co., Ltd(“Tinghaozhu Space”)	​	—	​	40	%**

*During the year ended December 31, 2021, the Group became the sole investor of Deyu and Jiuyi. Therefore, Deyu and Jiuyi become consolidated subsidiaries of the Group (see note 22).

**During the year ended December 31, 2022, the Group invested the Chenji Zhaozhao and Tinghaozhu Space, both of which the Group does not have controlling financial interests over these investees, but has ability to exercise significant influence over their financial and operating polices accouting for 30% and 40% of their total equity, respectively.

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2020			​	2021			​	2022
Name of the	​	Capital	​	Return of	​	Capital	​	Return of	​	Capital	​	Return of
limited partnerships	​	Investments	​	capital	​	Investments	​	capital	​	Investments	​	capital
​		RMB		RMB		RMB		RMB		RMB		RMB
Gefei Chengyun		—		(1,513)		—		—	​	—	​	—
Jiushen		—		(9,397)		22,000		(3,455)	​	6,350	​	(18,500)
Jiuchuan		—		(4,290)		—		(2,800)	​	—	​	—
Decheng		—		(463)		—		—	​	—	​	—
Longshutianye		—		(3,003)		—		(1,666)	​	—	​	—
Jiuyi		—		(26,312)		—		—	​	—	​	—
Jiuzhen		—		—		—		(1,826)	​	—	​	(414)
Yunde		—		(4,800)		4,690		(6,862)	​	—	​	—
Deyan		—		(3,500)		—		(1,300)	​	—	​	—
Detong		—		—		—		(48)	​	—	​	—
Derong		—		—		20,000		—	​	—	​	(1)
Jiushi		—		(38,220)		500		(31,371)	​	—	​	—
Qixing		—		(8,750)		—		—	​	—	​	—
Ruokun		—		(5,000)		—		—	​	—	​	—
Deyu		1,000		(4,000)		—		—	​	—	​	—
Honggeng	​	—	​	(2,201)	​	—	​	—	​	—	​	—
Jiaxinda	​	458	​	—	​	—	​	(458)	​	—	​	—
Fangjin	​	—	​	—	​	490	​	—	​	—	​	(234)
Muju	​	—	​	—	​	36,886	​	(302)	​	23,814	​	(398)
​	​	​	​	​	​	​	​	​	​	​	​	​
Name of other equity method investees	​	​	​	​	​	​	​	​	​	​	​	​
Chenji Zhaozhao	​	—	​	—	​	—	​	—	​	2,190	​	—
Tinghaozhu Space	​	—	​	—	​	—	​	—	​	800	​	—
Total	​	1,458	​	(111,449)	​	84,566	​	(50,088)	​	33,154	​	(19,547)

​

Schedule of combined unaudited financial information for these equity method investees

​

​	​	​	​	​
​	​	As of December 31,
​	​	2021	​	2022
​		RMB		RMB
Balance sheet data:
Current assets		746,693		854,415
Non-current assets		173,579		171,618
Total assets		920,272		1,026,033
Current liabilities		207,316		226,849
Total liabilities		207,316		226,849
Equity		712,956		799,184
Total liabilities and shareholders’ equity		920,272		1,026,033

​

​	​	​	​	​	​	​
​	​	For the year ended December 31,
​	​	2020	​	2021	​	2022
​		RMB		RMB		RMB
Operating data:
Revenue		56,545		4,094		5,569
Operating income/(loss)		22,009		(4,253)		(14,412)
Net income/(loss)		22,431		(3,994)		(14,093)

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Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
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