v3.26.1
Consolidated Statements of Changes in Shareholders’ Deficit (Unaudited)
¥ in Thousands, $ in Thousands
Ordinary shares
Class B
shares
Ordinary shares
USD ($)
shares
Ordinary shares
CNY (¥)
shares
Additional paid-in capital
USD ($)
Additional paid-in capital
CNY (¥)
Accumulated other comprehensive loss
USD ($)
Accumulated other comprehensive loss
CNY (¥)
Accumulated deficit
USD ($)
Accumulated deficit
CNY (¥)
Total shareholders’ deficit to ordinary shareholders
USD ($)
Total shareholders’ deficit to ordinary shareholders
CNY (¥)
Non- controlling interests
USD ($)
Non- controlling interests
CNY (¥)
USD ($)
CNY (¥)
Balance at Dec. 31, 2022     ¥ 27     ¥ (77,397)   ¥ (1,411,227)   ¥ (1,488,597)   ¥ 265   ¥ (1,488,332)
Balance (in shares) at Dec. 31, 2022 | shares   396,547,016 396,547,016                        
Net loss           (105,610)   (105,610)   (11)   (105,621)
Issuance of ordinary shares     ¥ 4   51,432       51,436     51,436
Issuance of ordinary shares (in Shares) | shares   63,600,043 63,600,043                        
Deemed dividend to Series C-2 Redeemable Convertible Preferred Shareholders           (2,872)   (2,872)     (2,872)
Deemed dividend to Series D Redeemable Convertible Preferred Shareholders           (915)   (915)     (915)
Accretion of redeemable convertible preferred shares       (4,426)     (71,735)   (76,161)     (76,161)
Fair value changes of financial liabilities due to instrument- specific credit risk, net of nil income taxes         781     781     781
Reclassification adjustment for gains on financial liabilities in net income, net of nil income taxes         1,953     1,953     1,953
Foreign currency translation adjustment, net of nil income taxes         (24,300)     (24,300)     (24,300)
Balance at Dec. 31, 2023     ¥ 31   47,006   (98,963)   (1,592,359)   (1,644,285)   254   (1,644,031)
Balance (in shares) at Dec. 31, 2023 | shares   460,147,059 460,147,059                        
Net loss             (34,900)   (34,900)   (41)   (34,941)
Capital contribution from non-controlling interest                 30,000   30,000
Deemed dividend to Series C-2 Redeemable Convertible Preferred Shareholders                            
Deemed dividend to Series D Redeemable Convertible Preferred Shareholders                            
Accretion of redeemable convertible preferred shares           (88,277)   (88,277)     (88,277)
Foreign currency translation adjustment, net of nil income taxes           (432)     (432)     (432)
Balance at Dec. 31, 2024     ¥ 31 [1]   47,006   (99,395)   (1,715,536)   (1,767,894)   30,213   (1,737,681)
Balance (in shares) at Dec. 31, 2024 | shares [1] 460,147,059 460,147,059                        
Net loss     [1]       (46,644)   (46,644)   (733) $ (6,775) (47,377)
Share Capital Reclassification     [1]            
Share Capital Reclassification (in shares) | shares [1] 342,773,160 (342,773,160) (342,773,160)                        
Conversion of Preferred Shares into Ordinary Shares     ¥ 162 [1]   1,505,315       1,505,477     1,505,477
Conversion of Preferred Shares into Ordinary Shares (in shares) | shares [1] 2,286,229,707 2,286,229,707                        
Purchase of shares from non-controlling interests     [1]   118       118   (272)   (154)
Deemed dividend to Series C-2 Redeemable Convertible Preferred Shareholders                          
Deemed dividend to Series D Redeemable Convertible Preferred Shareholders                          
Issuance of common stocks-cash     ¥ 8 [1]   116,026       116,034     116,034
Issuance of common stocks-cash (in shares) | shares [1] 113,050,000 113,050,000                        
Foreign currency translation adjustment, net of nil income taxes     [1]     1,483     1,483     1,483
Balance at Dec. 31, 2025   $ 29 [1] ¥ 201 [1] $ 238,588 ¥ 1,668,465 $ (14,001) ¥ (97,912) $ (251,988) ¥ (1,762,180) $ (27,372) ¥ (191,426) $ 4,177 ¥ 29,208 $ (23,195) ¥ (162,218)
Balance (in shares) at Dec. 31, 2025 | shares [1] 342,773,160 2,516,653,606 2,516,653,606                        
[1] On May 12, 2025, the Company amended its memorandum and articles of association to increase the authorized share capital to 20,000,000,000 shares, comprising 16,000,000,000 Class A ordinary shares and 800,000,000 Class B ordinary shares, with the remaining 3,200,000,000 shares to be designated by the Board of Directors, with a par value of US$0.00001 each. On August 19, 2025, the Company completed its initial public offering (IPO) and was listed on Nasdaq, all preferred shares were converted into Class A ordinary shares.