Prepayments and Other Assets

12 Months Ended

Dec. 31, 2021

7.	PREPAYMENTS AND OTHER ASSETS


	As at December 31
	2020		2021		2021
	RMB		RMB		US$
Current portion:
Prepayments to suppliers		78,621		162,528		25,504
Contract costs*		13,882		145,628		22,852
Contract assets, net**		—		550,068		86,318
VAT prepayments		470,567		619,391		97,196
Interest receivable		14,204		21,463		3,368
Individual income tax receivable*** (Note 12)		231,377		48,949		7,681
Others		78,435		138,994		21,811

		887,086		1,687,021		264,730

Non-current portion:
Prepayments for electronic equipment		8,978		25,388		3,984
Others		2,846		3,678		577

		11,824		29,066		4,561

*	Represents costs incurred in advance of revenue recognition arising from direct and incremental cost s related to enterprise cloud services provided. Such contract costs are recognized as cost of revenue upon the recognition of the related revenues.

Represents the Group’s rights to consideration for work completed in relation to its services performed but not billed at the report date.

The increase in contract assets as compared to December 31, 2020 is a result of a business acquisition.

The allowance for credit losses on contract assets was RMB1,591 (US$250) as of December 31, 2021. The amounts charged to expenses for credit losses o

contract assets and write-offs charged against the allowance were RMB2,100 (US$330)

and RMB509 (US$80)

, respectively,

for the year ended December 31, 2021.

***	Represents amounts due from certain employees related to their individual income taxes (“IIT”) arising from exercise and vesting of share-based awards.