v3.26.3
Unaudited Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2026
CNY (¥)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
CNY (¥)
Dec. 31, 2025
CNY (¥)
Cash flows from operating activities:        
Net (loss) income ¥ 48,076 $ 7,085 ¥ (470,115)  
Adjustments to reconcile net (loss) income to net cash generated from operating activities:        
Depreciation expense 2,635 388 2,433  
Non-cash operating lease expense 7,824 1,153 17,701  
Loss on termination of operating lease 331  
Allowance for (Reversal of) credit losses on financial assets (4,153) (611) 486,734  
Share-based compensation expenses 15,823  
(Gain) Loss on disposal of property, plant and equipment 127 19 (1,196)  
Change in fair value of equity investments 24 4  
Investment (income) loss 805 119 (5,025)  
Net gain on disposal of subsidiaries (9,543)  
Loss on disposal of investment in an associate 4,330  
Deferred taxes (10,086) (1,486) (6,476)  
Interest accrued for other receivables (17,503)  
Changes in operating assets and liabilities:        
Accounts receivable (6,267) (924) 13,040  
Contract assets 67,816 9,995 132,264  
Other receivables (6,288) (927) (113,270)  
Other current assets 3,658 538 221,672  
Other non-current assets 225 33 (187,284)  
Accounts payable (36,479) (5,377) (26,915)  
Accrued commissions (13,307) (1,961) (48,060)  
Insurance premium payables (278)  
Other payables and accrued expenses (45,836) (6,756) 38,907  
Accrued payroll (6,157) (907) (6,248)  
Income taxes payable 8,488 1,251 15,396  
Lease liabilities (7,344) (1,082) (17,935)  
Tax liabilities (37,298)  
Net cash generated from operating activities 3,761 554 1,485  
Cash flows from investing activities:        
Purchase of short-term investments (3,637) (536) (56,943)  
Proceeds from disposal of short-term investments 7,682 1,132 93,318  
Purchase of property, plant and equipment (2,032) (299) (1,071)  
Proceeds from disposal of property, plant and equipment 36 5 1,374  
Cash paid out for loan receivables from third parties (121,539) (17,913)  
Cash received for loan receivables from third parties 4,740 699  
Payment for business acquisitions, net of cash acquired (150,018) (22,110)  
Increase in amounts due from related parties (961) (141) (10,414)  
Decrease in amounts due from related parties 686 101  
Disposal of subsidiaries, net of cash disposed (131,068)  
Consideration received in respect of subsidiaries disposed of in the prior year 38,240 5,636  
Cash received from disposal of an equity investment 354  
Cash acquired on non-cash acquisitions 39  
Net cash used in investing activities (226,803) (33,426) (104,411)  
Cash flows from financing activities:        
Proceeds of issuance of ordinary shares 234,688 34,589 7,299  
Repayment of bank and other borrowings (59) (9) (52,926)  
Payments of deferred offering costs (1,205) (178)  
Net cash (used in) generated from financing activities 233,424 34,402 (45,627)  
Net (decrease) increase in cash and cash equivalents, and restricted cash 10,382 1,530 (148,553)  
Cash and cash equivalents and restricted cash at beginning of the period 50,256 7,407 245,744 ¥ 245,744
Effect of exchange rate changes on cash and cash equivalents (7,856) (1,158) (552)  
Cash and cash equivalents and restricted cash at the end of the period 52,782 7,779 96,639 ¥ 50,256
Reconciliation in amounts on the consolidated balance sheets:        
Cash and cash equivalents at the end of the period 33,326 4,912 77,292  
Restricted cash at the end of the period 19,456 2,867 19,347  
Total of cash and cash equivalents and restricted cash at the end of the period 52,782 7,779 96,639  
Supplemental disclosure of cash flow information:        
Income taxes paid (9,609) (1,416) (10,264)  
Interests paid (440) (65)  
Supplemental disclosure of non-cash information:        
Right-of-use assets obtained in exchange for lease liabilities 418 62 14,988  
Assets acquired through the issuance of ordinary shares ¥ 715,713 $ 105,483