v3.26.3
Accounts Receivable, Net
 6 Months Ended
Jun. 30, 2026
Accounts Receivable, Net [Abstract]  
ACCOUNTS RECEIVABLE, NET

4. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable and allowance for credit losses consist of the following:

 

    As of
December 31,		     As of
June 30,		  
    2025     2026     2026  
    RMB     RMB     US$  
Accounts receivable     176,261       177,765       26,199  
Less: allowance for credit losses     (132,971 )     (132,247 )     (19,490 )
Accounts receivable, net     43,290       45,518       6,709  

 

An analysis of the allowance for credit losses is as follows:

 

    For the
year ended
December 31,		     For the
six months ended
June 30,		  
    2025     2026     2026  
    RMB     RMB     US$  
Beginning balance     5,682       132,971       19,598  
Additions (reversal)     127,290       (724 )     (108 )
Exchange difference     (1 )     -     -  
Ending balance     132,971       132,247       19,490  

 

Three unrelated distributors accounted for 42.5%, 25.5% and 19.0% of the Company’s accounts receivable as of December 31, 2025, respectively. Three unrelated distributors accounted for 42.2%, 25.3% and 18.3% of the Company’s accounts receivable as of June 30, 2026, respectively.