Mezzanine Equity

12 Months Ended

Dec. 31, 2021

20.	MEZZANINE EQUITY


	As of December 31,
	2020		2021		2021
	RMB		RMB		US$
Balance as of January 1		—		1,056,237		165,747
Business combinations (Note 19)		1,056,237		—		—
Accretion of mezzanine equity		—		411,792		64,619

Balance as of December 31		1,056,237		1,468,029		230,366

Pursuant to the agreement that was entered into between the Company and TTP (Note 19), after the second closing and conversion of CB, the Company held

51.00%

of TTP’s equity interest on as-converted basis.

As of December 31, 2020 and 2021, TTP had issued

142,196,089

and 142,196,089 preferred shares, respectively, to certain shareholders (including

80,340,268

shares held by one subsidiary of the Company and eliminated in consolidated financial statements), which could be converted into ordinary shares or redeemed by such shareholders upon the occurrence of certain events that are not solely within the control of TTP. Therefore, these preferred shares were accounted for as convertible redeemable noncontrolling interests.