v3.25.1
Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
CNY (¥)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
CNY (¥)
Dec. 31, 2022
CNY (¥)
Cash flows from operating activities:        
Net income ¥ 309,474 $ 42,399 ¥ 289,099 ¥ 85,723
Adjustments to reconcile net income to net cash generated from operating activities:        
Depreciation expense 12,516 1,715 16,192 19,473
Amortization of intangible assets 16,791 2,300 17,858
Non-cash operating lease expense 59,918 8,209 69,689 90,419
Provision for allowance for credit losses on financial assets 43,650 5,980 24,647 30,701
Share-based compensation expenses 38,589 5,287 17,095 461
Loss on disposal of property, plant and equipment 224 31 1,311 2,825
Property, plant and equipment written off 4,180 572
Change in fair value of equity investments 82,588 11,315 (96,217)
Change in fair value of contingent consideration (4,088) (560) (6,650)
Investment income (5,351) (733) (17,047) (10,963)
Net loss (gain) on disposal of subsidiaries (897,306) (122,930) 2,904
Share of loss of affiliates, net of impairment 10,252 1,405 1,317 69,596
Deferred taxes 111,498 15,275 14,544 27,845
Interest accrued for other receivables (11,638) (1,594) (3,537) (3,353)
Impairment of goodwill and intangible assets 404,121 55,364
Accounts receivable 76,783 10,519 196,422 (1,491)
Contract assets 116,924 16,019 (327,419) (204,249)
Insurance premium receivables (16)
Other receivables (272,392) (37,317) 9,034 37,262
Other current assets 4,881 669 8,576 8,623
Other non-current assets 2,696 369 (4,933) (51)
Accounts payable (135,671) (18,587) (362,066) 22,099
Accrued commissions (13,844) (1,896) 364,026 127,643
Insurance premium payables (7,596) (1,041) (1,637) (7,375)
Other payables and accrued expenses 310,476 42,534 (2,115) (16,264)
Accrued payroll (30,299) (4,151) (8,799) (15,771)
Income taxes payable (24,071) (3,298) (29,947) (262)
Lease liabilities (55,709) (7,633) (68,265) (88,573)
Other tax liabilities (4,744) (652) (2,279) (36,566)
Net cash generated from operating activities 142,852 19,570 101,787 137,752
Cash flows from investing activities:        
Purchase of short-term investments (1,847,474) (253,103) (4,399,910) (2,550,300)
Proceeds from disposal of short-term investments 2,150,410 294,605 4,226,001 3,239,556
Purchase of long-term investments (135,462)
Purchase of property, plant and equipment (8,450) (1,158) (12,996) (77,746)
Proceeds from disposal of property and equipment 3,117 427 3,047 3,799
Cash paid out for loan receivables from third parties (824,800) (112,996) (160,000) (205,800)
Cash received for loan receivables from third parties 141,000 19,317 229,000 24,500
Prepayment for purchase of short-term investments (540,000)
Payment for business acquisitions, net of cash acquired 18,452 (21,571)
Proceeds as guarantee deposits from certain shareholders in business combinations 33,373
Payment as guarantee deposits to certain shareholders in business combinations (33,373)
Disposal of subsidiaries, net of cash disposed (50,393) (6,904)    
Others (2,440)
Net cash used in investing activities (436,590) (59,812) (234,308) (127,562)
Cash flows from financing activities:        
Proceeds from bank borrowings 134,976 18,492 182,301 35,679
Proceeds of issuance of ordinary shares 93 13
Repayment of bank borrowings and other borrowings (164,300) (22,509) (62,789)
Dividend paid (52,069)
Dividend distributed to noncontrolling interest (29,500) (4,041)
Capital contribution from non-controlling interests 7,330
Repurchase of ordinary shares from open market (5,735) (786) (40,556) (3,984)
Others 77 10 (110) 3
Net cash (used in) generated from financing activities (64,389) (8,821) 86,176 (20,371)
Net decrease in cash and cash equivalents, and restricted cash (358,127) (49,063) (46,345) (10,181)
Cash and cash equivalents and restricted cash at beginning of year 602,004 82,474 648,211 656,522
Effect of exchange rate changes on cash and cash equivalents 1,867 255 138 1,870
Cash and cash equivalents and restricted cash at the end of the year 245,744 33,666 602,004 648,211
Supplemental disclosure of non-cash investing activities:        
Right-of-use assets obtained in exchange for lease obligations, net of decrease of right-of-use assets for early terminations (1,872) (256) 57,233 4,462
Acquisition of subsidiaries through issuing ordinary shares (203,657)
Supplemental disclosure of non-cash financing activities:        
Shares in affiliates obtained in exchange for disposal of subsidiaries 1,000,000 140,000
Dividend distribution in equity method investee’s shares 265,661
Cash and cash equivalents at the end of the year 192,117   521,538 567,525
Restricted cash at the end of the year 53,627   80,466 80,686
Income taxes paid 12,601 1,726 76,879 47,029
Interests paid ¥ 3,326 $ 456 ¥ 8,750