| FINANCIAL ASSETS RECEIVABLE, NET |
4.FINANCIAL ASSETS RECEIVABLE, NET The Group’s financial assets receivable as of December 31, 2024 and 2025 are as follows: | | | | | | | December 31, | | December 31, | | | 2024 | | 2025 | | | RMB | | RMB | Financial assets receivable | | 2,170,780 | | 2,149,846 | Allowance for uncollectible receivables | | (446,089) | | (430,182) | Financial assets receivable, net | | 1,724,691 | | 1,719,664 |
The movement of financial assets receivable for the years ended December 31, 2023, 2024 and 2025 is as follows: | | | | | | | | | Year ended | | Year ended | | Year ended | | | December 31, 2023 | | December 31, 2024 | | December 31, 2025 | | | RMB | | RMB | | RMB | Balance at beginning of year | | 4,225,014 | | 3,694,269 | | 2,170,780 | Addition in the current year | | 4,906,586 | | 2,350,319 | | 3,549,392 | Collection in the current year | | (5,050,047) | | (3,429,622) | | (3,304,181) | Write-off | | (387,284) | | (444,186) | | (266,145) | Balance at end of year | | 3,694,269 | | 2,170,780 | | 2,149,846 |
The movement of allowance for uncollectible receivables for the years ended December 31, 2023, 2024 and 2025 is as follows: | | | | | | | | | Year ended | | Year ended | | Year ended | | | December 31, 2023 | | December 31, 2024 | | December 31, 2025 | | | RMB | | RMB | | RMB | Balance at beginning of year | | 554,095 | | 575,396 | | 446,089 | Current year net provision | | 408,585 | | 314,879 | | 250,238 | Write-off | | (387,284) | | (444,186) | | (266,145) | Balance at end of year | | 575,396 | | 446,089 | | 430,182 |
4.FINANCIAL ASSETS RECEIVABLE, NET – continued The Group’s financial assets receivable generated from related parties and recorded in amounts due from related parties as of December 31, 2024 and 2025 are as follows: | | | | | | | December 31, | | December 31, | | | 2024 | | 2025 | | | RMB | | RMB | Financial assets receivable | | 1,227 | | — | Allowance for uncollectible receivables | | (1,272) | | — | Financial assets receivable, net | | (45) | | — |
The movement of financial assets receivable generated from related parties and recorded in amounts due from related parties for the years ended December 31, 2023,2024 and 2025 is as follows: | | | | | | | | | Year ended | | Year ended | | Year ended | | | December 31, | | December 31, | | December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Balance at beginning of year | | 42,724 | | 12,717 | | 1,227 | Addition in the current year | | 19,981 | | — | | — | Collection in the current year | | (49,581) | | (10,062) | | (1,174) | Write-off | | (407) | | (1,428) | | (53) | Balance at end of year | | 12,717 | | 1,227 | | — |
The movement of allowance for uncollectible receivables generated from related parties and recorded in amounts due from related parties for the years ended December 31, 2023,2024 and 2025 is as follows: | | | | | | | | | Year ended | | Year ended | | Year ended | | | December 31, | | December 31, | | December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Balance at beginning of year | | 2,648 | | 2,912 | | 1,272 | Current year net provision (reversal) | | 671 | | (212) | | (1,219) | Write-off | | (407) | | (1,428) | | (53) | Balance at end of year | | 2,912 | | 1,272 | | — |
The following table summarizes the aging of the Group’s financial assets receivable. | | | | | | | | | | | | | | | 31-60 | | over 60 | | | | Total | | | 0-30 days | | days | | days | | | | financial | | | past | | past | | past | | | | assets | | | due | | due | | due | | Current | | receivable | December 31, 2024 | | 20,764 | | 23,495 | | — | | 2,126,521 | | 2,170,780 | December 31, 2025 | | 29,290 | | 33,841 | | — | | 2,086,715 | | 2,149,846 |
The principal of financial assets receivable by year of origination: | | | | | | | | | | | 2024 | | 2023 | | 2022 | | Total | December 31, 2024 | | 1,491,165 | | 549,475 | | 130,140 | | 2,170,780 |
| | | | | | | | | | | 2025 | | 2024 | | 2023 | | Total | December 31, 2025 | | 1,876,676 | | 197,574 | | 75,596 | | 2,149,846 |
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