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Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases

(9) Leases

 

The Group’s lease for office space include only fixed rental payments with no variable lease payment terms. As of December 31, 2021 and 2022, there were no leases that have not yet commenced.

 

The following represents the aggregate ROU assets and related lease liabilities as of December 31, 2021 and 2022:

 

   As of December 31, 
   2021   2022 
   RMB   RMB 
Operating lease ROU assets   225,677    145,086 
Current operating lease liability   87,012    62,304 
Non-current operating lease liability   128,283    74,190 
Total operating leased liabilities   215,295    136,494 

 

The weighted average lease term and discount rate as of December 31, 2021 and 2022 were as follows:

 

   As of December 31, 
   2021   2022 
Weighted average lease term:        
Operating leases   3.37    2.83 
Weighted average discount rate:          
Operating leases   4.41%   4.28%

 

The components of lease expenses for the years ended December 31, 2021 and 2022 were as follows:

 

   As of December 31, 
   2021   2022 
   RMB   RMB 
Operating lease expense   111,197    97,576 
Short term lease expense   3,373    1,227 
Total   114,570    98,803 

 

Supplemental cash flow information related to leases for the years ended December 31, 2021 and 2022 were as follows:

 

   As of December 31, 
   2021   2022 
   RMB   RMB 
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows for operating leases   99,150    90,438 
Supplemental noncash information:          
Right-of-use assets obtained in exchange for lease obligations net of decrease in right-of-use assets for early determinations   125,487    4,462 

 

Maturities of lease liabilities at December 31, 2022:

 

   Minimum Lease
Payment
 
   RMB 
Year ending December 31:    
2023   66,924 
2024   37,435 
2025   22,498 
2026   13,516 
2027   3,135 
Thereafter   2,162 
Total remaining undiscounted lease payments   145,670 
Less: Interest   9,176 
Total present value of lease liabilities   136,494 
Less: Current operating lease liability   62,304 
Non-current operating lease liability   74,190