Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET

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PROPERTY AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2023
PROPERTY AND EQUIPMENT, NET  
PROPERTY AND EQUIPMENT, NET

(7)

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consist of the following:

    

December 31,

    

December 31,

2022

2023

RMB

RMB

Building (i)

 

53,049,213

 

53,049,213

Computer equipment

 

2,842,992

 

2,729,055

Furniture, fixtures and office equipment

 

1,620,039

 

1,686,997

Motor vehicles

 

1,469,021

 

1,469,021

Software

 

1,565,195

 

1,565,195

Leasehold improvements

 

8,476,176

 

5,564,110

 

69,022,636

 

66,063,591

Less: accumulated depreciation and amortization

 

(36,261,660)

 

(35,827,606)

Property and equipment, net

 

32,760,976

 

30,235,985

(i)

Huanqiuyimeng entered into a two-year Commercial Loan Facility (the “Facility”) with China Minsheng Bank Beijing Branch. The Facility is pledged by the real estate property owned by ATA Education, see Note 10 for details.

Total depreciation expense recognized for the years ended December 31, 2021, 2022 and 2023 is allocated to the following expense items:

    

Year ended December 31,

2021

2022

2023

    

RMB

    

RMB

    

RMB

Cost of revenues

 

397,905

 

817,643

 

1,061,367

Research and development

 

448,414

 

22,084

 

26,669

Sales and marketing

 

7,984

 

9,674

 

15,231

General and administrative

 

4,937,844

 

4,267,932

 

3,647,782

Total depreciation expense

 

5,792,147

 

5,117,333

 

4,751,049