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Lease

12 Months Ended

Dec. 31, 2020

Lease [Abstract]

LEASE

10.     LEASE

From the Perspective of Lessee

The Group leases real estate for terms between 2 to 20 years from real estate companies. The Group generally does not have options to extend or terminate leases, as the renewal or termination of relevant lease is on negotiation basis. Lease commences when the landlords make the space available for the Group to use.

The Group sub-leased the leased premises to provide various lease solutions. All of the Group’s leases are operating leases under ASC 842.

Supplemental balance sheet information related to the leases were as follows:

		As of December 31,
		2019			2020
		RMB			RMB
ROU assets		1,851,729			879,348
Operating lease liabilities – current		(589,467	)		(365,049	)
Operating lease liabilities – non current		(1,393,691	)		(580,562	)
Weighted average remaining lease terms		7.60 year			7.71 year
Weighted average incremental borrowing rate		10.53%			10.75%

The losses from termination of leases for the years ended December 31, 2018, 2019 and 2020 were RMB nil, RMB nil and RMB 168,722.

The components of lease expenses for the years ended December 31, 2018, 2019 and 2020 were as follows:

		For the years ended December 31,
		2018		2019		2020
		RMB		RMB		RMB
Operating lease expenses for variable payments		34		1,151		453
Operating lease expenses for fixed payments		381,306		506,026		337,608
Short-term lease expenses		17,492		7,277		10,265
Total		398,832		514,454		348,326

		For the years ended December 31,
		2018		2019		2020
		RMB		RMB		RMB
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases		254,084		440,170		207,803

Supplemental noncash information:

		For the years ended December 31,
		2018		2019		2020
		RMB		RMB		RMB
ROU assets acquired in exchange for equity interests		155,350		—		—
Operating lease liabilities arising from obtaining ROU assets		977,539		315,027		11,902

The future lease payments as of December 31, 2020 were as follows:

		As of December 31, 2020
		RMB
2021		365,049
2022		201,508
2023		174,115
2024		150,189
2025		127,986
Thereafter		317,478
Total lease payments		1,336,325
Less: imputed interest		(390,714	)
Total lease liabilities		945,611

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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