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Accounts Receivable, net

12 Months Ended

Dec. 31, 2024

Accounts Receivable, net

Accounts Receivable, net

6. Accounts Receivable, net

Accounts receivable, net consists of the following:

​

​	​	​	​	​
​	​	December 31,	​	December 31,
​		2023		2024
​		RMB’000		RMB’000
​	​	​	​	​
Accounts receivable		217,131		172,817
Less: allowance for credit losses		(77,723)		(107,200)
Accounts receivable, net		139,408		65,617

​

Accounts receivable are generally non-interest bearing and are on terms between 90 to 270 days. In some cases, these terms are extended for certain qualifying long-term customers who have met specific credit requirements.

As of December 31, 2024, accounts receivable amounted to RMB 74.9 million has been derived from providing financing to the customer in connection with the advertisement agent services that mentioned in Note 2 (m)(II)(iv), such accounts receivable amounted to RMB 90.1 million as of December 31, 2023.

​

6. Accounts Receivable, net (Continued)

The movements in the allowance for credit losses are as follows:

​

​	​	​	​	​	​	​
​	​	For the year ended
​	​	December 31,
​		2022		2023		2024
​		RMB’000	​	RMB’000		RMB’000
​	​	​	​	​	​	​
Balance at beginning of the year		(122,039)		(83,383)		(77,723)
Reversal/(additional) of allowance for credit losses, net		30,192		(28,098)		(32,471)
Write-offs	​	8,464	​	33,758	​	2,994
Balance at end of the year		(83,383)		(77,723)		(107,200)

​

The reversal/(addition) of allowance for credit losses, net in 2022 was mainly due to improved collection of accounts receivable amounted to RMB33.3 million.

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- References

No definition available.

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- Definition

The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/310-10/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

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