| Condensed financial information of the parent company |
24Condensed financial information of the parent company Basis of presentation For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries and the VIE under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “ Long-term investments” and the subsidiaries’ and VIE’s (loss)/income as “Share of (loss)/income of the subsidiaries and VIE” on the condensed statements of comprehensive loss. The subsidiaries did not pay any dividends to the Company for the periods presented. The Company does not have significant commitments or long-term obligations as of the period end other than those presented. The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements. 24Condensed financial information of the parent company (continued) Condensed Balance Sheets | | | | | | | | | As of December 31 | | | 2024 | | 2025 | | | RMB | | RMB | | US$ | ASSETS: | | | | | | | Current assets: | | | | | | | Cash and cash equivalents | | 3,291 | | 23,208 | | 3,319 | Due from the entities within the Group | | 10,592 | | 10,383 | | 1,485 | Prepayments and other current assets | | 6,893 | | 8,312 | | 1,189 | Total current assets | | 20,776 | | 41,903 | | 5,993 | Non-current assets: | | | | | | | Long-term investments | | 304,090 | | 306,164 | | 43,781 | Other non-current assets | | 5,130 | | 5,016 | | 717 | Total non-current assets | | 309,220 | | 311,180 | | 44,498 | Total assets | | 329,996 | | 353,083 | | 50,491 | LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | Current liabilities: | | | | | | | Accrued liabilities and other current liabilities | | 2,342 | | 3,633 | | 520 | Due to the entities within the Group | | 259,732 | | 283,652 | | 40,562 | Total current liabilities | | 262,074 | | 287,285 | | 41,082 | Total liabilities | | 262,074 | | 287,285 | | 41,082 |
24Condensed financial information of the parent company (continued) Condensed Balance Sheets (continued) | | | | | | | | | As of December 31 | | | 2024 | | 2025 | | | RMB | | RMB | | US$ | Shareholders’ equity | | | | | | | Class A common shares (par value of US$0.0001 per share as of December 31, 2024 and 2025; 4,920,000,000 shares authorized as of December 31, 2024 and 2025, 63,041,500 shares and 62,971,166 shares issued and outstanding as of December 31, 2024 and 2025, respectively) | | 39 | | 40 | | 5 | Class B common shares (par value of US$0.0001 per share as of December 31, 2024 and 2025; 30,000,000 shares authorized as of December 31, 2024 and 2025, 17,000,189 shares and 17,000,189 shares issued and outstanding as of December 31, 2024 and 2025) | | 11 | | 11 | | 2 | Treasury shares (442,915 and 1,415,422 class A common shares as of December 31, 2024 and 2025, respectively) | | (1,674) | | (6,430) | | (919) | Additional paid-in capital | | 1,045,221 | | 1,049,029 | | 150,009 | Accumulated deficit | | (995,715) | | (995,292) | | (142,325) | Accumulated other comprehensive income | | 20,040 | | 18,440 | | 2,637 | Total shareholders’ equity | | 67,922 | | 65,798 | | 9,409 | Total liabilities and shareholders’ equity | | 329,996 | | 353,083 | | 50,491 |
24Condensed financial information of the parent company (continued) Condensed Statements of Comprehensive Loss | | | | | | | | | | | Years ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | US$ | Revenues | | — | | — | | — | | — | Cost of revenues | | — | | — | | — | | — | Gross profit | | — | | — | | — | | — | Operating expenses | | — | | — | | — | | — | Research and development | | — | | — | | — | | — | Sales and marketing | | (517) | | (416) | | (764) | | (109) | General and administrative | | (11,430) | | (7,018) | | (5,499) | | (786) | Share of (loss)/income of the subsidiaries and VIE | | (45,933) | | 373 | | 6,340 | | 907 | Total operating expenses | | (57,880) | | (7,061) | | 77 | | 12 | (Loss)/income from operations | | (57,880) | | (7,061) | | 77 | | 12 | Foreign exchange (loss)/gain, net | | (61) | | (6) | | 2 | | — | Interest income | | 34 | | 21 | | 344 | | 49 | Other loss | | (4,191) | | — | | — | | — | (Loss)/income before income taxes | | (62,098) | | (7,046) | | 423 | | 61 | Income tax expenses | | — | | — | | — | | — | Net (loss)/income | | (62,098) | | (7,046) | | 423 | | 61 | Net (loss)/income attributable to common shareholders | | (62,098) | | (7,046) | | 423 | | 61 | Other comprehensive income/(loss) | | — | | — | | — | | — | Foreign currency translation adjustments | | 919 | | 817 | | (1,600) | | (229) | Total other comprehensive income/(loss), net of tax | | 919 | | 817 | | (1,600) | | (229) | Comprehensive loss | | (61,179) | | (6,229) | | (1,177) | | (168) |
24Condensed financial information of the parent company (continued) Condensed Statements of Cash Flows | | | | | | | | | | | Year ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | US$ | Net cash (used in)/provided by operating activities | | (23,234) | | 6,282 | | 19,477 | | 2,785 | Net cash used in investing activities | | — | | — | | — | | — | Net cash used in financing activities | | (3,651) | | (1,775) | | (5,047) | | (722) | Effect of exchange rate changes | | (3,658) | | (4,544) | | 5,487 | | 785 | Net (decrease)/increase in cash and cash equivalents and restricted cash | | (30,543) | | (37) | | 19,917 | | 2,848 | Cash and cash equivalents and restricted cash at the beginning of year | | 33,871 | | 3,328 | | 3,291 | | 471 | Cash and cash equivalents and restricted cash at the end of year | | 3,328 | | 3,291 | | 23,208 | | 3,319 |
|