v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information
13.
SEGMENT INFORMATION

Operating segments are defined as components of an entity for which separate financial information is available and is evaluated regularly by the Chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Group's CODM is the Company's Chief Executive Officer.

There are two segments of the Group, consisting of Internet business and AI and others. Segment information is presented after elimination of inter-segment transactions and revenues, cost of revenues and operating expenses are directly attributable, or are allocated, to each segment. The accounting policies of the segments are the same as those described in note 2. The CODM measures the performance of each segment based on metrics of revenues and adjusted operating income (loss) and uses these results to evaluate the performance of, and to allocate resources to each of the segments. The Group currently does not allocate assets and share-based compensation for employees to its segments as the CODM does not use such information to allocate resources or evaluate the performance of the operating segments.

The following tables present summary information by segment:

 

 

 

For the years ended December 31, 2025

 

 

Internet Business

 

AI and others

 

Consolidated

 

 

RMB

 

RMB

 

RMB

 

US$

Revenues

 

615,281

 

535,163

 

1,150,444

 

164,511

Operating costs and expenses

 

 

 

 

 

 

 

 

Cost of revenues(i)

 

106,606

 

209,789

 

316,395

 

45,244

Selling and marketing(i)

 

220,312

 

141,650

 

361,962

 

51,759

Research and development(i)

 

110,060

 

234,899

 

344,959

 

49,328

Other segment items(i)

 

63,436

 

223,295

 

286,731

 

41,001

Adjusted operating income/(losses)

 

114,867

 

(274,470)

 

(159,603)

 

(22,821)

Unallocated amounts-share based compensations

 

 

 

 

 

(19,840)

 

(2,838)

Operating loss

 

 

 

 

 

(179,443)

 

(25,659)

Reconciliation of operating loss

 

 

 

 

 

 

 

 

Interest income, net

 

 

 

 

 

30,629

 

4,380

Foreign exchange gains (losses), net

 

 

 

 

 

30,783

 

4,402

Other income

 

 

 

 

 

36,896

 

5,276

Other expense

 

 

 

 

 

(145,548)

 

(20,813)

Loss before income taxes

 

 

 

 

 

(226,683)

 

(32,414)

 

(i)
Share-based compensations were not allocated to segments. Total depreciation and amortization expenses of Internet Business and AI and others was RMB5,105 (US$730) and RMB142,130 (US$20,324), respectively, for the year ended December 31, 2025. Other segment items include general and administrative expenses, impairment of intangible assets, and other operating income, net allocated to the respective segments. Impairment of intangible assets of AI and others was RMB41,563 (US$5,943) for the year ended December 31, 2025.

 

 

 

 

For the years ended December 31, 2024

 

 

Internet Business

 

AI and others

 

Consolidated

 

 

RMB

 

RMB

 

RMB

Revenues

 

517,188

 

289,689

 

806,877

Operating costs and expenses

 

 

 

 

 

 

Cost of revenues(i)

 

79,812

 

181,789

 

261,601

Selling and marketing(i)

 

200,945

 

142,138

 

343,083

Research and development(i)

 

115,476

 

125,991

 

241,467

Other segment items(i)

 

58,122

 

313,758

 

371,880

Adjusted operating income/(losses)

 

62,833

 

(473,987)

 

(411,154)

Unallocated amounts-share based compensations

 

 

 

 

 

(26,101)

Operating loss

 

 

 

 

 

(437,255)

Reconciliation of operating loss

 

 

 

 

 

 

Interest income, net

 

 

 

 

 

44,422

Foreign exchange gains (losses), net

 

 

 

 

 

(21,726)

Other income

 

 

 

 

 

52,059

Other expense

 

 

 

 

 

(191,828)

Loss before income taxes

 

 

 

 

 

(554,328)

 

(i)
Share-based compensations were not allocated to segments. Total depreciation and amortization expenses of Internet Business and AI and others was RMB2,512 and RMB48,941, respectively, for the year ended December 31, 2024. Other segment items include general and administrative expenses, impairment of goodwill, and other operating expenses allocated to the respective segments. Impairment of goodwill of AI and others was RMB152,890 for the year ended December 31, 2024.

 

 

For the years ended December 31, 2023

 

 

Internet Business

 

AI and others

 

Consolidated

 

 

RMB

 

RMB

 

RMB

Revenues

 

450,134

 

219,369

 

669,503

Operating costs and expenses

 

 

 

 

 

 

Cost of revenues(i)

 

81,224

 

150,346

 

231,570

Selling and marketing(i)

 

146,404

 

95,598

 

242,002

Research and development(i)

 

113,646

 

63,981

 

177,627

Other segment items(i)

 

82,601

 

111,986

 

194,587

Adjusted operating income/(losses)

 

26,259

 

(202,542)

 

(176,283)

Unallocated amounts-share based compensations

 

 

 

 

 

(33,554)

Operating loss

 

 

 

 

 

(209,837)

Reconciliation of operating loss

 

 

 

 

 

 

Interest income, net

 

 

 

 

 

60,978

Foreign exchange gains (losses), net

 

 

 

 

 

(11,421)

Other income

 

 

 

 

 

96,765

Other expense

 

 

 

 

 

(574,135)

Loss before income taxes

 

 

 

 

 

(637,650)

 

(i)
Share-based compensations were not allocated to segments. Total depreciation and amortization expenses of Internet Business and AI and others was RMB3,925 and RMB31,337, respectively, for the year ended December 31, 2023. Other segment items include general and administrative expenses and other operating expenses allocated to the respective segments.