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Related Party Balances and Transactions
12 Months Ended
Dec. 31, 2022
Related Party Transactions [Abstract]  
Related Party Balances and Transactions

13. RELATED PARTY BALANCES AND TRANSACTIONS

 

The table below sets forth major related parties of the Group and their relationships with the Group:

 

Entity or individual name

 

Relationship with the Group

Ji'an Aoxinlian Information Consulting Service Co., Ltd.(“Ji'an Aoxinlian”)

 

Ji’an Aoxinlian is controlled by the immediate family member of the Group's senior management.

Ji'an Aojuxun Information Consulting Service Co., Ltd.(“Ji'an Aojuxun”)

 

Ji’an Aojuxun is controlled by the immediate family member of the Group's senior management.

Shenzhen Aileyou Information Technology Co., Ltd.(Aileyou)*

 

Aileyou is an equity investment of the Group.

L.P. Technology Holdings Limited (“L.P.”)

 

L.P. is an equity investment of the Group.

Individual Director or Officer

 

Directors or officers of the Group.

 

*In June 2022, the Company has fully disposed all its shareholding in Aileyou, and which was no longer a related party of the Company after the disposal.

(a)
The Group entered into the following significant related party transactions:

 

(i)
Provision of services to related parties

 

 

For the Year Ended December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

 

 

(RMB in thousands)

 

Provision of services to Aileyou

 

 

2,087

 

 

 

7,731

 

 

 

631

 

Total

 

 

2,087

 

 

 

7,731

 

 

 

631

 

 

(ii)
Purchase of goods and services from related parties

 

 

For the Year Ended December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

 

 

(RMB in thousands)

 

Purchases of goods and services from Ji'an Aoxinlian

 

 

20,658

 

 

 

20,493

 

 

 

16,177

 

Purchases of goods and services from Ji'an Aojuxun

 

 

7,987

 

 

 

 

 

Total

 

 

28,645

 

 

 

20,493

 

 

 

16,177

 

 

(b)
The Group had the following significant related party balances:

 

(i)
Amounts due from related parties

 

 

As of December 31,

 

 

 

2021

 

 

2022

 

 

 

(RMB in thousands)

 

Due from L.P. by the Group*

 

 

6,109

 

 

 

6,602

 

Total

 

 

6,109

 

 

 

6,602

 

*The amount represents the funds provided by the Group to L.P., primarily including loan of US$940,000.

 

(ii)
Amounts due to related parties

 

 

 

As of December 31,

 

 

 

2021

 

 

2022

 

 

 

(RMB in thousands)

 

Due to Ji'an Aoxinlian by the Group

 

 

4,790

 

 

 

4,669

 

Due to individual Director or Officer and his/her immediate family members under investment programs offered by the Group *

 

 

15,027

 

 

 

-

 

Due to Aileyou by the Group

 

 

3,285

 

 

 

-

 

Total

 

 

23,102

 

 

 

4,669

 

 

 

* Certain individual directors and officers and/or his immediate family members participate in the investment programs offered to individual investors by the Company. The amount due to these related parties represent their investment.

 

 

The Group believes that the terms of the transactions with the related parties are comparable to the terms of arm’s‑length transactions with third‑party vendors and Individual Investors.