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Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Schedules of Related Party Transactions

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

 

Company Name

 

Relationship with the Group

JD.com, Inc. and its subsidiaries (“JD Group”)

 

A shareholder of the Group

5Y Capital's affiliates (“5Y Capital”, previously known as "Morningside")

 

A shareholder of the Group

Beijing Xichen Technology Co., Ltd and its subsidiaries (“Xichen

   Group”)

 

An investee of the Group

Fuzhou Ruifeng Renewable resources Co., Ltd (“Ruifeng”)

 

An investee of the Group

Manak Waste Management Private Limited (“Manak”)

 

An investee of the Group

Shanghai Meda Information Technology Co., Ltd (“Meda”)

 

An investee of the Group

Shenzhen Aileyou Information Technology Co., Ltd (“Aileyou”)

 

An investee of the Group

Shanghai Yueyie Network Information Technology Co., Ltd

   (“Yueyie”)

 

An investee of the Group

Shanghai Gulin Technology Co., Ltd(“Gulin”)

 

An investee of the Group

Jinsong

 

An investee of the Group

AiFenLei

 

An investee of the Group

Shanghai Yuekun Environmental Protection Technology

    Co., Ltd (“Yuekun”)

 

A Subsidiary of AiFenLei

Shanghai Yueqing Information Technology Co., Ltd. (“Yueqing”)

 

An investee of the Group

 

 

 

 

For the years ended December 31, 2019, 2020 and 2021, significant related party transactions were as follows:

 

 

 

Years ended December 31,

 

 

 

2019

 

 

2020

 

 

2021

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Net Service Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Consultation service provided to Manak

 

 

6,364

 

 

 

—

 

 

 

—

 

PAIPAI platform service provided to Jinsong

 

 

—

 

 

 

—

 

 

 

1,389

 

Merchandise costs

 

 

 

 

 

 

 

 

 

 

 

 

Purchase from JD Group

 

 

8,073

 

 

 

25,440

 

 

 

6,906

 

Purchase from Gulin(1)

 

 

—

 

 

 

—

 

 

 

175,118

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Service received from JD Group(2)

 

 

82,637

 

 

 

166,079

 

 

 

363,946

 

Service received from Aileyou

 

 

—

 

 

 

2,019

 

 

 

8,502

 

Service received from Gulin

 

 

—

 

 

 

—

 

 

 

3,006

 

Interest income from loans provided to related parties

 

 

672

 

 

 

1,750

 

 

 

1,272

 

 

 

Amount due from related parties

 

 

 

 

 

 

 

 

 

 

 

 

Loan to Jinsong

 

 

75,000

 

 

 

—

 

 

 

—

 

Loan to Yueqing

 

 

3,500

 

 

 

—

 

 

 

—

 

Loan to Gulin

 

 

—

 

 

 

—

 

 

 

80,500

 

Loan to Yuekun

 

 

81,600

 

 

 

138,332

 

 

 

85,900

 

Loan to Aileyou

 

 

3,900

 

 

 

2,400

 

 

 

—

 

Repayments from Jinsong

 

 

81,797

 

 

 

—

 

 

 

—

 

Repayments from Yuekun

 

 

20,062

 

 

 

175,755

 

 

 

110,015

 

Repayments from Aileyou

 

 

1,520

 

 

 

2,911

 

 

 

—

 

Repayments from Gulin

 

 

—

 

 

 

—

 

 

 

80,500

 

Repayments from Yueqing

 

 

—

 

 

 

—

 

 

 

9,500

 

18.Related party transactions—(Continued)

 

As of December 31, 2019, 2020 and 2021, the amount due from/to related parties are as follows:

 

 

 

As of December 31,

 

 

 

2019

 

 

2020

 

 

2021

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Due from JD Group (4)

 

 

115,395

 

 

 

165,626

 

 

 

320,955

 

Due from Jinsong

 

 

 

 

 

 

 

 

 

 

 

 

Other receivables from Jinsong

 

 

45,407

 

 

 

45,661

 

 

 

5,670

 

Due from Yueqing

 

 

 

 

 

 

 

 

 

 

 

 

Loans provided to Yueqing

 

 

9,500

 

 

 

9,500

 

 

 

—

 

Due from Xichen Group

 

 

7,000

 

 

 

3,500

 

 

 

—

 

Due from Ruifeng

 

 

 

 

 

 

 

 

 

 

 

 

Loans provided to Ruifeng

 

 

4,000

 

 

 

—

 

 

 

—

 

Due from Meda

 

 

 

 

 

 

 

 

 

 

 

 

Loans provided to Meda

 

 

600

 

 

 

—

 

 

 

—

 

Due from Yuekun

 

 

 

 

 

 

 

 

 

 

 

 

Loans provided to Yuekun

 

 

61,538

 

 

 

24,115

 

 

 

—

 

Other receivables from Yuekun

 

 

16,177

 

 

 

26,668

 

 

 

2,076

 

Due from AiFenLei

 

 

 

 

 

 

 

 

 

 

 

 

Other receivables from Aifenlei

 

 

—

 

 

 

—

 

 

 

22,315

 

Due from Aileyou

 

 

 

 

 

 

 

 

 

 

 

 

Loans provided to Aileyou

 

 

2,380

 

 

 

1,869

 

 

 

1,869

 

Other receivables from Aileyou

 

 

3,230

 

 

 

12,217

 

 

 

40,317

 

Due from Gulin

 

 

 

 

 

 

 

 

 

 

 

 

Other receivables from Gulin

 

 

—

 

 

 

—

 

 

 

17,450

 

 

 

 

265,227

 

 

 

289,156

 

 

 

410,652

 

Due to JD Group

 

 

 

 

 

 

 

 

 

 

 

 

Prepaid subscription from JD Group (5)

 

 

—

 

 

 

35,000

 

 

 

—

 

Other payables to JD Group (3)

 

 

74,218

 

 

 

44,688

 

 

 

64,975

 

Due to 5Y Capital

 

 

 

 

 

 

 

 

 

 

 

 

Convertible loan due to 5Y Capital

 

 

33,423

 

 

 

33,423

 

 

 

—

 

Loan from Jinsong

 

 

223

 

 

 

—

 

 

 

8,611

 

Due to Aileyou

 

 

—

 

 

 

1,384

 

 

 

—

 

Due to Yuekun

 

 

—

 

 

 

118

 

 

 

5

 

Due to Yueyie

 

 

—

 

 

 

56

 

 

 

—

 

Due to Gulin

 

 

—

 

 

 

—

 

 

 

385

 

 

 

 

107,864

 

 

 

114,669

 

 

 

73,976

 

 

 

(1)

Gulin is the newly invested investee of the Group in 2021 and is one of the new product suppliers of the Group, the Group mainly purchases new products from Gulin.

(2)

In connect with the growing business on Paipai platform in 2021, the Group received more services from JD group, mainly include channel sales services, advertising services, and logistic services.

(3)

Other payables to JD Group mainly includes channel commissions payable to JD Group.

(4)

Amount due from JD Group includes fund receivables from payment service provider of JD Group, cash collected by JD Group from third party merchants on behalf of the Group, and advance payment to customers on behalf of JD Group.

(5)

The amount represents RMB35,000 prepaid subscription from an entity of JD Group for Series E convertible redeemable preferred shares. The issuance of preferred shares is upon ODI approval, otherwise the amount will be refunded to the investor. Upon the approval of the ODI, the amount was converted to Series E convertible redeemable preferred shares and subsequently converted to Class A ordinary shares immediately after IPO completion.