v3.26.3
Taxation (Tables)
 6 Months Ended
Jun. 30, 2026
Taxation [Abstract]  
Schedule of Loss Before Provision for Income Taxes

Loss before provision for income taxes is attributable to the following geographic locations:

 

Continuing operations

 

    For the six months ended
June 30,		  
    2025     2026  
    RMB     RMB  
PRC     (9 )     (165,905 )
Foreign     28,178       (24,981 )
Total (loss)/income from continuing operations before income taxes     28,169       (190,886 )
Schedule of Reconciliation of the Differences Between the Statutory Income Tax Rate

The following table presents a reconciliation of the differences between the statutory income tax rate and the Company’s effective income tax rate for the six months ended June 30, 2025 and 2026:

 

Continuing operations

 

    For the six months ended
June 30,		  
    2025     2026  
    %     %  
Statutory income tax rate of the PRC*     25.0       25.0  
Permanent differences     -       -  
Change in valuation allowance     (5.0 )     (4.6 )
Effect of preferential tax rate     (20.0 )     (20.4 )
Effective income tax rate     -       -  

 

* The Company is incorporated in the Cayman Islands, where the statutory income tax rate is 0%. However, the Group has its most significant operations and substantially all of the Group's pre-tax loss is attributable to its PRC operations . The Group has determined the PRC to be its principal tax jurisdiction and uses the PRC statutory income tax rate of 25% as the starting point in the rate reconciliation, as the Group believes this provides the most meaningful presentation of the factors affecting its consolidated effective tax rate.