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Combined and Consolidated Balance Sheets
¥ in Thousands, $ in Thousands
Dec. 31, 2023
CNY (¥)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
CNY (¥)
Current Assets:      
Cash and cash equivalents ¥ 1,554,583 $ 218,958 ¥ 913,277
Restricted cash 3,541 499 0
Short-term investments 1,586,005 223,384 945,865
Accounts receivable, net (net of allowance of RMB6,249 and RMB49,132 as of December 31, 2022 and 2023, respectively) 524,818 73,919 485,044
Contract assets, net (net of allowance of RMB459 and RMB122 as of December 31, 2022 and 2023, respectively) 19,688 2,773 12,600
Amounts due from related parties ¥ 5,015 $ 706 ¥ 5,021
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member] Related Party [Member]
Inventories ¥ 495,877 $ 69,843 ¥ 646,852
Prepayments and other current assets 208,082 29,308 126,452
Total current assets 4,397,609 619,390 3,135,111
Property and equipment, net 871,611 122,764 504,953
Intangible assets, net 78,730 11,089 20,600
Land-use rights, net 40,743 5,739 41,606
Goodwill 0 0 3,823
Long-term investments 31,811 4,480 31,856
Operating lease right-of-use assets 151,871 21,391 44,349
Other non-current assets 90,168 12,700 57,098
Total non-current assets 1,264,934 178,163 704,285
TOTAL ASSETS 5,662,543 797,553 3,839,396
Current Liabilities:      
Short-term borrowings 111,682 15,730 0
Notes payable 7,255 1,022 0
Accounts payable 269,439 37,950 206,681
Contract liabilities 79,925 11,257 40,378
Amounts due to related parties ¥ 340,051 $ 47,895 ¥ 334,283
Other Liability, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member] Related Party [Member]
Accrued warranty liability ¥ 28,425 $ 4,004 ¥ 17,694
Accrued expenses and other current liabilities 498,324 70,188 356,502
Total current liabilities 1,335,101 188,046 955,538
Deferred tax liabilities 0 0 439
Operating lease liabilities 119,413 16,819 10,139
Long-term borrowings 285,898 40,268 18,472
Other non-current liabilities 59,813 8,424 13,075
Total non-current liabilities 465,124 65,511 42,125
TOTAL LIABILITIES 1,800,225 253,557 997,663
Commitments and contingencies (Note 25)
Mezzanine Equity:      
Redeemable shares (US$0.0001 par value, 54,551,513 and nil shares issued and outstanding as of December 31, 2022 and December 31, 2023, respectively) 0 0 5,986,910
Shareholders' (Deficit) Equity:      
Additional paid-in capital 7,423,862 1,045,629 0
Subscription receivables (292,721) (41,229) (310,227)
Accumulated other comprehensive (loss) income 38,440 5,414 (3,608)
Accumulated deficit (3,307,349) (465,830) (2,831,381)
Total Shareholders' (deficit) equity 3,862,318 543,996 (3,145,177)
Total Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity 5,662,543 797,553 3,839,396
Class A      
Shareholders' (Deficit) Equity:      
Ordinary shares 19 3 19
Class B      
Shareholders' (Deficit) Equity:      
Ordinary shares ¥ 67 $ 9 ¥ 20