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SHORT-TERM INVESTMENTS | 6 Months Ended
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Jun. 30, 2021
SHORT-TERM INVESTMENTS |
SHORT-TERM INVESTMENTS | 5. SHORT-TERM INVESTMENTS Short-term investments consist of held-to-maturity investments and available-for-sale investments. Held to maturity investments Held-to- maturity investments consist of various fixed-income financial products purchased from Chinese commercial banks, which are classified as held-to-maturity investments as the Group has the positive intent and ability to hold the investments to maturity. The maturities of these financial products are within one year, with annual interest rates ranging from 2.19% to 3.30% and matured and fully collected with principal and interest as of the date of this report. They are classified as short-term investments on the consolidated balance sheets as its contractual maturity dates are less than one year. The repayments of principal of the financial products are not guaranteed by the Chinese commercial banks from which the fixed income financial products were purchased. Historically, the Company has received the principal and the interest in full upon maturity of these investments. While these fixed-income financial products are not publicly traded, the Company estimated that their fair value approximate their amortized costs considering their short-term maturities and high credit quality. No other-than-temporary impairment ("OTTI") loss was recognized for the six months ended June 30, 2021 and 2020, respectively. Available-for-sale investments Investments other than held-to-maturity are classified as available-for-sale investments, which consist of various adjustable-income financial products purchased from Chinese commercial banks. All the available for sale investments did not have maturity date. They are classified as short-term investments on the consolidated balance sheets as management intends to hold them for a period less than one year. Available-for-sale securities are carried at their fair values and the unrealized gains or losses from the changes in fair values are included in accumulated other comprehensive income. The aging of all the available-for-sale investments were less than 12 months as of June 30, 2021. No OTTI loss was recognized for the six months ended June 30, 2021 and 2020, respectively. The amortized cost, gross unrealized gain in accumulated other comprehensive income, and estimated fair value of investments as of June 30, 2021 and December 31, 2020, are reflected in the tables below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of June 30, 2021
​ | ​ | ​ | ​ | Gross unrealized gain | ​ | ​
​ | ​ | ​ | ​ | in accumulated other | ​ | Estimated
​ |  | Amortized Cost |  | comprehensive income |  | Fair value
​ | ​ | RMB | ​ | RMB | ​ | RMB
​ | ​ | Unaudited | ​ | Unaudited | ​ | Unaudited
Short-term investments: |  |  |  |  |  |
Held-to-maturity investments |  |  |  |  |  |
Fixed-rate financial products |  | 2,000 |  | — |  | 2,000
​ |  |  |  |  |  |
Available-for-sale investments |  |  |  |  |  |
Adjustable-rate financial products |  | 84,500 |  | 1,152 |  | 85,652
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2020
​ | ​ | ​ | ​ | Gross unrealized gain | ​ | ​
​ | ​ | ​ | ​ | in accumulated other | ​ | Estimated
​ |  | Amortized Cost |  | comprehensive income |  | Fair value
​ |  | RMB |  | RMB |  | RMB
Short-term investments: | ​ |  | ​ |  | ​ |
Held-to-maturity investments |  |  |  |  |  |
Fixed-rate financial products |  | 45,000 |  | — |  | 45,000
​ |  |  |  |  |  |
Available-for-sale investments |  |  |  |  |  |
Adjustable-rate financial products |  | 117,000 |  | 854 |  | 117,854
​ Interest income recognized on held-to-maturity investments for the six months ended June 30, 2021 and 2020 were as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Six months ended June 30,
​ |  | 2021 |  | 2020
​ |  | RMB |  | RMB
​ | ​ | Unaudited | ​ | Unaudited
Interest income recognized on held-to-maturity investments | ​ | 672 | ​ | 175
​

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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