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FAIR VALUE MEASUREMENT (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Summary of assets measured at fair value on a recurring basis

As of December 31, 2021 and 2022, short-term investments measured at fair value are as follows:

 

 

 

Fair value measurement as of December 31, 2022

 

 

 

Quoted prices
in active
market for
identical
assets

 

 

Significant
other
observable
inputs

 

 

Significant
unobservable
inputs

 

 

Total

 

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt investments

 

 

 

 

 

 

 

 

 

 

 

 

- Wealth management products

 

 

 

 

 

1,512,953

 

 

 

 

 

 

1,512,953

 

Investments elected to measure at fair value

 

 

 

 

 

 

 

 

 

 

 

 

- Wealth management products

 

 

 

 

 

1,203,995

 

 

 

 

 

 

1,203,995

 

Total

 

 

 

 

 

2,716,948

 

 

 

 

 

 

2,716,948

 

 

 

 

11. FAIR VALUE MEASUREMENT - continued

 

Measured at fair value on a recurring basis - continued

 

 

 

Fair value measurement as of December 31, 2021

 

 

 

Quoted prices
in active
market for
identical
assets

 

 

Significant
other
observable
inputs

 

 

Significant
unobservable
inputs

 

 

Total

 

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt investments

 

 

 

 

 

 

 

 

 

 

 

 

- Wealth management products

 

 

 

 

 

2,199,372

 

 

 

 

 

 

2,199,372

 

Total

 

 

 

 

 

2,199,372

 

 

 

 

 

 

2,199,372

 

Summary of trading securities and available-for-sale investments

A summary of available-for-sale investments during the years ended December 31, 2021 and 2022 is presented as below:

 

 

 

As of December 31, 2022

 

 

 

Original
cost

 

 

Unrealized
gains

 

 

Unrealized
loss

 

 

Provision
for decline
in value

 

 

Fair
value

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Wealth management products

 

 

1,508,635

 

 

 

4,318

 

 

 

 

 

 

 

 

 

1,512,953

 

Total

 

 

1,508,635

 

 

 

4,318

 

 

 

 

 

 

 

 

 

1,512,953

 

 

 

 

11. FAIR VALUE MEASUREMENT - continued

 

Measured at fair value on a recurring basis - continued

 

 

 

As of December 31, 2021

 

 

 

Original
cost

 

 

Unrealized
gains

 

 

Unrealized
loss

 

 

Provision
for decline
in value

 

 

Fair
value

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Wealth management products

 

 

2,203,630

 

 

 

 

 

 

4,258

 

 

 

 

 

 

2,199,372

 

Total

 

 

2,203,630

 

 

 

 

 

 

4,258

 

 

 

 

 

 

2,199,372