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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2023
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS |
19. | RELATED PARTY TRANSACTIONS
a) | Related Parties
Name of principal related parties |  | Relationship with the Group
Kingsoft Corporation Limited and its subsidiaries (other than all of entities of the Group) (“Kingsoft Group”) | ​ | Principal shareholder of the Company
​ | ​ | ​
Xiaomi Corporation and its subsidiaries (“Xiaomi Group”) | ​ | Entity controlled by a director of the Company
​
b) | The Group had the following related party transactions:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31
​ |  | 2021 |  | 2022 |  | 2023 |  | 2023
​ | ​ | RMB | ​ | RMB | ​ | RMB | ​ | US$
Revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Public cloud services provided to Xiaomi Group |  | 749,597 | ​ | 804,647 |  | 763,338 |  | 107,514
Public cloud services provided to Kingsoft Group |  | 156,158 | ​ | 187,907 |  | 217,333 |  | 30,611
Public cloud services provided to other related parties | ​ | — | ​ | 50,629 | ​ | 378 | ​ | 53
Enterprise cloud services provided to Xiaomi Group |  | 22,857 | ​ | 74,590 |  | 104,967 |  | 14,784
Enterprise cloud services provided to Kingsoft Group |  | 838 | ​ | 10,892 |  | 18,690 |  | 2,632
Enterprise cloud services provided to other related parties | ​ | — | ​ | — | ​ | 2,200 | ​ | 310
Other services provided to Kingsoft Group |  | 74 | ​ | — |  | — |  | —
Other services provided to other related parties | ​ | — | ​ | — | ​ | 436 | ​ | 61
​ |  | 929,524 | ​ | 1,128,665 |  | 1,107,342 |  | 155,965
Purchase of devices from Xiaomi Group |  | 1,349 | ​ | 144 |  | 91 |  | 13
Interest expense on loans due to Xiaomi Group |  | 16,633 | ​ | 48,707 |  | 39,703 |  | 5,592
Interest expense on a loan due to Kingsoft Group |  | 4,088 | ​ | 18,364 |  | 958 |  | 135
Rental of building from Xiaomi Group* |  | 56,452 | ​ | 48,766 |  | 39,713 |  | 5,593
Rental of office space, and administrative services from Kingsoft Group |  | 13,321 | ​ | 13,931 |  | 9,167 |  | 1,291
​ |  | 91,843 | ​ | 129,912 |  | 89,632 |  | 12,624
* | The Group entered into agreements to lease building and office space from Xiaomi Group. As of December 31, 2022 and 2023, the related operating lease right-of-use assets amounted to RMB167,697 and RMB115,622 (US$16,285) and operating lease liabilities amounted to RMB224,346 and RMB132,146 (US$18,612), respectively.
​
19. | RELATED PARTY TRANSACTIONS (Continued)
c) | The Group had the following related party balances at the end of the year:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31
​ |  | 2022 |  | 2023 |  | 2023
​ | ​ | RMB | ​ | RMB | ​ | US$
Amounts due from related parties: | ​ | ​ |  |  |  |
Trade related: | ​ | ​ |  | ​ |  | ​
Xiaomi Group | ​ | 200,577 |  | 189,027 |  | 26,623
Kingsoft Group | ​ | 34,550 | ​ | 61,901 | ​ | 8,719
Other related parties* | ​ | 6,268 | ​ | 71,372 | ​ | 10,053
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-trade related: | ​ | ​ |  | ​ |  | ​
Kingsoft Group | ​ | 10,868 |  | — |  | —
​ | ​ | 252,263 | ​ | 322,300 | ​ | 45,395
Amounts due to related parties: | ​ | ​ | ​ | ​ | ​ | ​
Trade related: | ​ | ​ | ​ | ​ | ​ | ​
Kingsoft Group | ​ | 14,069 | ​ | 5,824 | ​ | 820
Xiaomi Group | ​ | 44,245 | ​ | 26,520 | ​ | 3,735
Other related parties | ​ | — | ​ | 7,055 | ​ | 994
​ | ​ | ​ |  | ​ |  | ​
Non-trade related: | ​ | ​ |  | ​ |  | ​
Kingsoft Group** | ​ | 29,284 |  | 529,284 |  | 74,548
Xiaomi Group** | ​ | 753,593 | ​ | 403,292 | ​ | 56,803
​ | ​ | 841,191 | ​ | 971,975 | ​ | 136,900
* | Amount as of December 31, 2023 included RMB51,778 (US$7,293) of prepayments to an equity method investee for electronic equipment.
**Amounts included related party loans as disclosed in Note 13. All the balances with related parties except for the loans from Xiaomi Group were unsecured. All outstanding balances except for related party loans as disclosed in Note 13 are repayable on demand. The effect of ASC 326 to due from related parties was immaterial.

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