PROPERTY, EQUIPMENT AND SOFTWARE, NET

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

6. PROPERTY, EQUIPMENT AND SOFTWARE, NET

Property, equipment and software consisted of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Electronic equipment		196,173			99,345
Building		491,082			491,082
Leasehold improvement		81,377			76,522
Furniture and office equipment		11,975			2,659
Software		12,697			17,002
Construction in progress		10,182			870
Total		803,486			687,480
Less: Accumulated depreciation		(123,168	)		(135,448	)
Accumulated impairment loss		(309	)		—
		680,009			552,032

Depreciation expenses were RMB55,751, RMB108,446 and RMB68,807 for the years ended December 31, 2020, 2021 and 2022, respectively.

As a result of the New Regulations and the Business Restructuring, the Group performed an impairment assessment on property, equipment and software in 2021 and reduces the carrying value of the property and equipment related to compulsory education academic subject tutoring services to its estimated fair value based on market approach. The Group recorded impairment losses on property, equipment and software amounted to nil, RMB28,918 and nil during the years ended December 31, 2020, 2021 and 2022, respectively.