| OTHER NON-CURRENT ASSETS |
11.
OTHER NON-CURRENT ASSETS
Other
non-current assets consist of the following:
SCHEDULE OF OTHER NON CURRENT ASSETS
| | |
| | |
| |
| | |
As
of December 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | |
| | |
| | |
| |
| Prepayment of commercial properties
(1) | |
| 78,000 | | |
| 78,000 | |
| Less: impairment loss
for long-lived assets (Note 2.17) | |
| (26,090 | ) | |
| (26,090 | ) |
| Subtotal | |
| 51,910 | | |
| 51,910 | |
| Long-term loan receivables (Note 6) | |
| | | |
| | |
| - Unsecured (2) | |
| 40,000 | | |
| 36,530 | |
| Long-term receivables from disposal of a subsidiary
(Note 6) | |
| 9,137 | | |
| 6,337 | |
| Others | |
| 5,308 | | |
| 4,806 | |
| Less: allowance for credit losses | |
| (28,305 | ) | |
| (7,564 | ) |
| Total other non-current
assets | |
| 78,050 | | |
| 92,019 | |
| (1) |
In
2020, the Group purchased commercial properties from a third party and paid the full amount in advance with consideration of US$ 11.25
million (equivalent RMB 78,000). As of December 31, 2025, the properties are under construction and expected to be handed over to the
Group by the end of 2028. |
| |
|
| (2) |
As of December 31, 2025, two loan receivables, with total amount of RMB 40,000, would be collected within one year according repayment schedule in loan agreement, which were classified as prepaid expense and other current assets (Note 6).
In October 2025, the company entered into a three-year loan agreement with a third-party company to support its daily operation. The loan with principal amount of RMB 36,300 has an interest rate of 3% per annum. According to the loan agreement, the principal and interest will be repaid together in 2028. As of December 31, 2025, total allowance for credit losses of unsecured loan receivable was RMB 1,228. |
|