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ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2023

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET

6.	ACCOUNTS RECEIVABLE, NET


		As at December 31
		2022		2023		2023
		RMB		RMB		US$
Accounts receivable		2,450,392		1,554,658		218,969
Allowance for credit losses		(47,962)		(24,743)		(3,485)
Accounts receivable, net		2,402,430		1,529,915		215,484

The movements of the allowance for credit losses were as follows:


		As at December 31
		2021		2022		2023		2023
		RMB		RMB		RMB		US$
Balance at beginning of the year		15,770		32,265		47,962		6,755
Adoption of ASC 326*		5,684		—		—		—
Provision for expected credit losses		121,731		323,848		550,891		77,592
Write-offs charged against the allowance for credit losses**		(101,202)		(273,286)		(497,391)		(70,056)
Recoveries during the year		(9,718)		(34,865)		(76,719)		(10,806)
Balance at end of the year		32,265		47,962		24,743		3,485

*	On January 1, 2021, the Group adopted ASC 326 using a modified retrospective approach and did not restate the comparable prior periods, which resulted in a cumulative effect to increase the opening balance of accumulated deficit on January 1, 2021 by RMB5,684.

**	The increase in write-offs charged against the allowance for credit losses was mainly due to the deterioration of third-party customers’ financial condition resulted from their worsening business operation impacted by economic conditions.