v3.26.1
Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income (loss) ¥ (82,968) $ (11,867) ¥ 13,470 ¥ 37,509
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 25,883 3,702 24,163 23,912
Amortization of operating lease right-of-use assets 72 10
Provision for (reversal of) credit losses 1,438 206 (1,782) (3,714)
Impairment for inventory 12,801 1,831 5,962 10,026
Loss on disposal of property and equipment 174 187
Deferred tax expenses 11,095 1,587 924 541
Unrealized gains on short-term investments (127) (18) (209)
Unrealized foreign exchange (gain) loss 312 45 (679)
Changes in operating assets and liabilities:        
Notes receivable 20,962 2,998 (3,752) 8,310
Accounts receivable 39,709 5,678 16,345 31,044
Advance to suppliers 1,979 283 (7,677) (619)
Inventories 6,252 894 (5,882) (12,902)
Prepayments and other current assets (23,306) (3,333) (1,283) (563)
Other receivable-a related party 738 106 (738)
Operating leases liabilities (108) (15)
Accounts payable (3,362) (478) (404) (35,613)
Taxes payable 279 40 (229) (7,702)
Contract liabilities 1,267 182 (400) (715)
Accrued expense and other liabilities 417 60 2,698 (582)
Other payables – non-current (393) (197)
Net cash provided by operating activities 13,333 1,911 41,046 48,184
CASH FLOWS FROM INVESTING ACTIVITIES        
Loans to related party (7,000) (1,001)
Repayment of lending to related party 7,000 1,001
Purchase of short-term investments (1,224)
Purchase of property, plant and equipment (1,008) (144) (13,587) (7,396)
Prepayment for purchase of intangible assets (11,622) (1,662) (14,186) (4,204)
Proceeds from disposal of property, plant and equipment 108 1,059
Net cash used in investing activities (12,630) (1,806) (27,665) (11,765)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from loans 70,468 10,077 90,122 79,860
Repayment of loans (82,562) (11,806) (92,860) (54,890)
Repayment of related parties (146) (20)
Proceeds from related parties 146
Dividend payment to shareholders (16,023) (39,452)
Deferred IPO expenses (3,514) (4,497)
Proceeds from initial public offering 43,080 6,160
Shareholder contribution 1,470 210
Net cash provided by (used in) financing activities 32,310 4,621 (22,129) (18,979)
Effect of exchange rate changes on cash (1,285) (190) 168
Net increase (decrease) in cash and restricted cash 31,728 4,536 (8,580) 17,440
Cash and restricted cash at beginning of year 18,606 2,661 27,186 9,746
Cash and restricted cash at end of year 50,334 7,197 18,606 27,186
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:        
Interest 3,356 480 3,985 4,423
Income taxes 116 10,486
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Liabilities assumed in connection with purchase of property, plant and equipment 1,101 157 8,633 2,345
Liabilities assumed in connection with purchase of intangible asset 3,602 515
Right of use assets obtained in exchange for operating lease obligation 541 77
Reclassification of IPO expenses into additional paid-in capital ¥ 8,663 $ 1,239