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CONCENTRATIONS | 12 Months Ended
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Dec. 31, 2020
Concentrations |
CONCENTRATIONS | 30. CONCENTRATIONS Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, other receivable and other non-current assets. The Group places its cash and cash equivalents and term deposits with financial institutions with high-credit ratings. The Group conducts credit evaluations of its customers and suppliers, and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding balances to determine the need for an allowance for doubtful accounts. No single customer represented 10% or more of the Group’s total revenues for the years ended December 31, 2018, 2019 and 2020. No single supplier represented 10% or more of the Group’s total costs of sales for the years ended December 31, 2018, 2019 and 2020. A summary of the debtors who accounted for 10% or more of the Group’s consolidated accounts receivable, prepaid and other current assets and other non-current assets was as follows:
|  | As of December 31, |
|  | 2019 |  | 2020 |
Debtors |  | RMB |  | % |  | RMB |  | % |
Accounts receivable |  |  |  |  |  |  |  |  |
Company A |  | 2,089 |  | 12 | % | 3,145 |  | 15 | %
Prepaid and other current assets |  |  |  |  |  |  |  |  |
Company B |  | 49,800 |  | 37 | % | 49,800 |  | 42 | %
Company C |  | 35,000 |  | 26 | % | 35,000 |  | 30 | %
Other non-current assets |  |  |  |  |  |  |  |  |
Company D |  | 42,211 |  | 59 | % | 89,929 |  | 65 | %
Company E |  | 10,773 |  | 15 | % | 13,723 |  | 10 | %
The Chinese market in which the Group operates exposes the Group to certain macroeconomic and regulatory risks and uncertainties. These uncertainties extend to the ability of the Group to provide educational and career enhancement services through contractual arrangements in the PRC since this industry remains highly regulated. The Chinese government may issue from time to time new laws or new interpretations on existing laws to regulate the education industry. Regulatory risk also encompasses the interpretation by the tax authorities of current tax laws, the status of properties leased for the Group’s operations and the Group’s legal structure and scope of operations in the PRC, which could be subject to further restrictions resulting in limitations on the Group’s ability to conduct business in the PRC.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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- References No definition available. + Details
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