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LEASES | 12 Months Ended
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Dec. 31, 2023
LEASES |
LEASES |
11. | LEASES
The Group’s operating leases mainly related to office space and buildings, and its finance leases are related to electronic equipment, and data center machinery and equipment. Certain finance leases include a bargain purchase option, contain variable lease payments based on the actual usage of the machinery and equipment, and have no fixed or in-substance fixed lease payments for the first two years of the lease term. Certain operating leases include rental free periods and rental escalation clause, which are factored into the Group’s determination of lease payments when appropriate.
11. | LEASES (Continued)
The components of lease costs were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31
​ | ​ | 2021 | ​ | 2022 | ​ | 2023 | ​ | 2023
​ |  | RMB |  | RMB |  | RMB |  | US$
Operating lease costs |  | 52,648 |  | 72,244 |  | 53,172 |  | 7,489
Short-term lease costs |  | 11,317 |  | 15,493 |  | 46,220 |  | 6,510
Finance lease costs: |  |  |  |  |  |  |  |
Depreciation of finance lease assets |  | — |  | 9,204 |  | 22,361 |  | 3,149
Interest on finance lease liabilities |  | — |  | 5,491 |  | 15,563 |  | 2,192
Variable lease payments |  | — |  | 7,237 |  | 23,054 |  | 3,248
Total finance lease costs |  | — |  | 21,932 |  | 60,978 |  | 8,589
​ Other information related to leases where the Group is the lessee is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31 |
​ |  | 2021 |  | 2022 |  | 2023 |
Weighted-average remaining lease term: |  |  |  |  |  |  | ​
Operating leases |  | 8.3 | years | 7.7 | years | 9.5 | years
Finance leases |  | — |  | 9.3 | years | 7.8 | years
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average discount rate: |  |  |  |  |  |  | ​
Operating leases |  | 6.18 | % | 5.88 | % | 5.88 | %
Finance leases |  | — |  | 5.90 | % | 5.84 | %
​ Cash paid for amounts included in the measurement of lease liabilities: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31
​ |  | 2021 |  | 2022 |  | 2023 |  | 2023
​ |  | RMB |  | RMB |  | RMB |  | US$
Cash payments for operating leases |  | 35,214 |  | 47,385 |  | 53,086 |  | 7,477
Cash payments for finance leases |  | — |  | — |  | 13,308 |  | 1,874
​
11. | LEASES (Continued)
Lease assets obtained in exchange for lease obligations: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31
​ | ​ | 2021 | ​ | 2022 | ​ | 2023 | ​ | 2023
​ |  | RMB |  | RMB |  | RMB |  | US$
Operating leases |  | 6,915 |  | 47,288 |  | 11,016 |  | 1,552
Finance leases |  | — |  | 175,324 |  | 169,350 |  | 23,852
​ The undiscounted future minimum payments under the Group’s operating and finance lease liabilities and reconciliation to the operating and finance lease liabilities recognized on the consolidated balance sheet as of December 31, 2023 were as below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating lease | ​ | Finance lease
​ | ​ | RMB |  | US$ |  | RMB |  | US$
2024 |  | 79,605 |  | 11,212 | ​ | 42,971 | ​ | 6,052
2025 |  | 28,128 |  | 3,962 | ​ | 65,674 | ​ | 9,250
2026 |  | 13,278 |  | 1,870 | ​ | 64,889 | ​ | 9,139
2027 |  | 10,118 |  | 1,425 | ​ | 51,372 | ​ | 7,236
2028 and thereafter |  | 52,414 |  | 7,382 | ​ | 222,612 | ​ | 31,354
Total future lease payments |  | 183,543 |  | 25,851 | ​ | 447,518 | ​ | 63,031
Less: imputed interest |  | (26,537) |  | (3,737) | ​ | (92,950) | ​ | (13,091)
Total lease liability balance |  | 157,006 |  | 22,114 | ​ | 354,568 | ​ | 49,940
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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