Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes [Abstract]

Schedule of Unrecognized Tax Benefits

The movements of unrecognized tax benefits are as follows:

	RMB
Balance as of January 1, 2022		73,213
Change in unrecognized tax benefits		—
Decrease in tax positions		(36,566	)
Balance as of December 31, 2022		36,647
Change in unrecognized tax benefits		—
Decrease in tax positions		(2,279	)
Balance as of December 31, 2023		34,368
Change in unrecognized tax benefits		—
Decrease in tax positions		(4,744	)
Balance as of December 31, 2024		29,624

Schedule of Income Tax Expenses

Income tax expenses are comprised of the following:

	Year Ended December 31,
	2022		2023		2024
	RMB		RMB		RMB
Current tax expense		13,169		44,836		7,763
Deferred tax expense		27,847		14,566		90,952
Income tax expense		41,016		59,402		98,715

Schedule of Deferred Income Tax Assets and Liabilities

The principal components of the deferred income tax assets and liabilities are as follows:

	As of December 31,
	2023			2024
	RMB			RMB
Deferred tax assets:
Operating loss carryforward		117,072			79,790
Intangible assets, net		5,003			1,220
Less: valuation allowances		(81,340	)		(71,034	)
Total		40,735			9,976
Deferred tax liabilities:
Fair value adjustments in relation to short-term investments		15,944			103,200
Estimated profit arising from future renewal commissions		91,428			87,743
PRC dividend withholding taxes		29,230			26,730
Identifiable intangible assets		12,549			—
Total		149,151			217,673

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation between the provision for income taxes computed by applying the PRC enterprise income rate of 25% to net income before income taxes and income of affiliates, and the actual provision for income taxes is as follows:

	Year Ended December 31,
	2022			2023			2024
	RMB			RMB			RMB
Income from continuing operations before income taxes, share of income of affiliates, net		196,335			349,818			413,241
PRC statutory tax rate		25	%		25	%		25	%
Income tax at statutory tax rate		49,084			87,455			103,310
Expenses not deductible for tax purposes:
—Entertainment		2,099			2,417			703
—Impairment on goodwill		—			—			93,537
—Provision for expected credit losses on other receivables		—			—			11,940
—Other		479			340			1,434
Effect of tax holidays on concessionary rates granted to PRC entities		(12,671	)		(9,956	)		(507	)
Effect of different tax rates of subsidiaries operating in other jurisdictions		2,342			4,110			(135,440	)
Change in valuation allowance		40,501			2,713			20,179
Utilized of Deferred income tax for dividend distribution		—			—			(2,500	)
Effect of non-taxable (income) loss *		(4,620	)		(25,709	)		29,969
Unrecognized tax benefits arising from certain transfer pricing arrangements		(36,566	)		(2,279	)		(4,744	)
Deferred income tax reverse		—			—			(18,800	)
Other		368			311			(366	)
Income tax expense		41,016			59,402			98,715

* The effect of non-taxable income for years ended December 31, 2022 represents an income tax exemption according to the Notice (Cai Shui [2002] No. 128) promulgated by the State Administration of Taxation and Ministry of Finance in China on dividend income derived from a purchased open-end securities investment fund product that the Group recorded as short term investment. The effect of non-taxable income for the year ended December 31, 2023 is primarily relating to the non-taxable gains from changes in fair value of equity interests held by the Group. The effect of non-taxable loss for the year ended December 31, 2024 is primarily relating to the non-taxable loss from changes in fair value of equity interests held by the Group.