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Condensed financial information of the parent company | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed financial information of the parent company | 2 1 . Condensed financial information of the parent company The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements’ and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The subsidiaries did not pay any dividend to the Company for the year s presented. For the purpose of presenting parent only financial information, the Company records its investments in its subsidiaries under the equity method of accounting. Such investments are presented on the separate condensed balance sheets of the Company as “Investments in subsidiaries” and the profit (loss) of the subsidiaries is presented as “share of profit (loss) of subsidiaries”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. These statements should be read in conjunction with the notes to the consolidated financial statements of the Company. The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2018 and 2019.
|  | As of December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | US$ Note2(f) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 461,054 |  |  |  | 157,143 |  |  |  | 22,572 |
Prepaid expenses and other assets |  |  | 4,798 |  |  |  | 4,443 |  |  |  | 638 |
Investment in and advances to subsidiaries |  |  | 5,476,363 |  |  |  | 8,223,441 |  |  |  | 1,181,220 |
Total assets |  |  | 5,942,215 |  |  |  | 8,385,027 |  |  |  | 1,204,430 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accrued expenses and other liabilities |  |  | 18,333 |  |  |  | 437,071 |  |  |  | 62,781 |
Total liabilities |  |  | 18,333 |  |  |  | 437,071 |  |  |  | 62,781 |
Shareholders’ equity : |  |  |  |  |  |  |  |  |  |  |  |
Class A ordinary shares (US$0.00001 par value; 10,000,000,000 shares authorized as of December 31, 2018 and 2019; 874,071,169 and 964,071,169 issued as of December 31, 2018 and 2019; 827,770,169 and 943,436,904 outstanding as of December 31, 2018 and 2019) |  |  | 58 |  |  |  | 64 |  |  |  | 9 |
Class B ordinary shares (US$0.00001 par value; 10,000,000,000 shares authorized as of December 31, 2018 and 2019; 659,000,000 and 586,000,000 issued and outstanding as of December 31, 2018 and 2019) |  |  | 44 |  |  |  | 39 |  |  |  | 6 |
Additional paid-in capital |  |  | 5,896,017 |  |  |  | 5,640,898 |  |  |  | 810,265 |
Treasury stock (46,301,000 and 20,634,265 shares as of December 31, 2018 and 2019, respectively) |  |  | (332,121 | ) |  |  | (47,174 | ) |  |  | (6,777 | )
Statutory reserves |  |  | 256,006 |  |  |  | 317,198 |  |  |  | 45,563 |
Accumulated other comprehensive income |  |  | 58,210 |  |  |  | 70,320 |  |  |  | 10,097 |
Retained earnings |  |  | 45,668 |  |  |  | 1,966,611 |  |  |  | 282,486 |
Total shareholders’ equity |  |  | 5,923,882 |  |  |  | 7,947,956 |  |  |  | 1,141,649 |
Total liabilities and shareholders’ equity |  |  | 5,942,215 |  |  |  | 8,385,027 |  |  |  | 1,204,430 |
Statements of comprehensive loss
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ Note 2(f) |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing expenses |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |
General and administrative expenses |  |  | (71,189 | ) |  |  | (57,448 | ) |  |  | (25,590 | ) |  |  | (3,675 | )
Profits from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Other income, net |  |  | 2,515 |  |  |  | 21,183 |  |  |  | 7,898 |  |  |  | 1,133 |
Share of profit of subsidiaries |  |  | 1,151,657 |  |  |  | 2,505,341 |  |  |  | 2,390,542 |  |  |  | 343,380 |
Net profit |  |  | 1,082,983 |  |  |  | 2,469,074 |  |  |  | 2,372,850 |  |  |  | 340,838 |
Accretion on Series A convertible redeemable preferred shares to redemption value |  |  | (1,237,274 | ) |  |  | — |  |  |  | — |  |  |  | — |
Accretion on Series B convertible redeemable preferred shares to redemption value |  |  | (905,861 | ) |  |  | — |  |  |  | — |  |  |  | — |
Accretion on Series C convertible redeemable preferred shares to redemption value |  |  | (930,336 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net profit (loss) attributable to ordinary shareholders |  |  | (1,990,488 | ) |  |  | 2,469,074 |  |  |  | 2,372,850 |  |  |  | 340,838 |
Statements of cash flows
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ Note 2(f) |
Net cash provided by (used in) operating activities |  |  | (12,178 | ) |  |  | 12,111 |  |  |  | 8,474 |  |  |  | 1,217 |
Net cash used in investing activities |  |  | (720,259 | ) |  |  | (69,660 | ) |  |  | 86,471 |  |  |  | 12,421 |
Net cash provided by (used in) financing activities |  |  | 1,677,222 |  |  |  | (438,253 | ) |  |  | (401,400 | ) |  |  | (57,658 | )
Effect of exchange rate changes on cash, cash equivalents and restricted cash |  |  | (13,447 | ) |  |  | 22,098 |  |  |  | 2,544 |  |  |  | 366 |
Net increase (decrease) in cash, cash equivalents and restricted cash |  |  | 931,338 |  |  |  | (473,704 | ) |  |  | (303,911 | ) |  |  | (43,654 | )
Cash, cash equivalents and restricted cash-beginning of year |  |  | 3,420 |  |  |  | 934,758 |  |  |  | 461,054 |  |  |  | 66,226 |
Cash, cash equivalents and restricted cash-end of year |  |  | 934,758 |  |  |  | 461,054 |  |  |  | 157,143 |  |  |  | 22,572 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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