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LOANS | 12 Months Ended
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Dec. 31, 2023
LOANS |
LOANS |
13. | LOANS
Bank loans As of December 31, 2022 and 2023, the Group had a total of RMB909,500 and RMB1,110,896 (US$156,466) of short-term bank loans, respectively. Short-term bank loans are unsecured, and the weighted average interest rate as of December 31, 2022 and 2023 was 4.16% and 3.60%, respectively. The short-term bank loans will be repayable within one year. As of December 31, 2023, the Group had an unsecured long-term bank loan of RMB100,000 (US$14,085) with fixed annual interest rate of 4.10%. The long-term bank loan will be repayable in December 2026. There are no commitment fees and conditions under which lines may be withdrawn associated with the Group’s unused facilities. Related party loans ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31
​ |  | 2022 |  | 2023 |  | 2023
​ | ​ | RMB | ​ | RMB | ​ | US$
Current | ​ | ​ |  | ​ |  | ​
Kingsoft Group * | ​ | — |  | 500,000 |  | 70,424
Xiaomi Group** | ​ | 340,129 |  | 363,223 |  | 51,159
​ | ​ | 340,129 |  | 863,223 |  | 121,583
Non-current: | ​ | ​ | ​ | ​ | ​ | ​
Xiaomi Group ** | ​ | 413,464 | ​ | 40,069 | ​ | 5,644
​ | ​ | 413,464 | ​ | 40,069 | ​ | 5,644
​ | ​ | 753,593 | ​ | 903,292 | ​ | 127,227
* | On December 4, 2023, the Group entered into a loan facility framework agreement with Kingsoft Corporation Limited (the “Kingsoft Loan Facility”). Under the terms of the Kingsoft Loan Facility, the Group may borrow from Kingsoft Corporation Limited, from December 5, 2023 to December 31, 2025, a principal amount of up to RMB1,500,000 to finance the Group’s capital expenditure needs on electronic equipment procurement. The Kingsoft Loan Facility comprises of an one-time unsecured loan facility for amount up to RMB500,000, which has a repayment term of no more than ten months. Any additional borrowings under the Kingsoft Loan Facility should be secured by the Group’s property and equipment, and have a repayment term of no more than 18 months. In December 2023, the Group drew down RMB500,000 from the one time unsecured loan facility with fixed annual interest rate of 3.75% per annum, and the loan will be repayable in September 2024.
** | During 2021 and 2022, the Group entered into several loan agreements with fixed annual interest rates of 4.36% and 3.98% with Xiaomi Group, respectively. During 2023, the Group entered into two loan agreements with Xiaomi Group to obtain loans from Xiaomi Group with fixed annual interest rates of 6.00% and 6.50%, respectively. The loans are secured by the Group’s electronic equipment and the carrying amount of the electronic equipment pledged was RMB585,005 and RMB421,901 (US$59,424) as of December 31, 2022, and 2023, respectively.
13.LOANS (Continued) As of December 31, 2023, the bank loans and the related party loans will be repaid according to the following schedule: ​
​ | ​ | ​ | ​ | ​
​ |  | RMB |  | US$
2024 | ​ | 1,986,534 |  | 279,797
2025 | ​ | 40,921 | ​ | 5,764
2026 |  | 100,000 |  | 14,085
​ |  | 2,127,455 |  | 299,646
​

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