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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2023
CNY (¥)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
CNY (¥)
Dec. 31, 2021
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (156,250) $ (22,007) ¥ (2,467,937) ¥ (816,547)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 333,731 47,005 405,408 373,745
Noncash lease expense 47,075 6,630 53,765 40,156
Loss on the disposal of property and equipment 5,347 753 1,894 73
Provision for allowance for credit losses 24,672 3,475 5,870 2,090
Write-down of inventories 45,749 6,444 8,931 2,595
Share of loss in equity method investments 50,374 7,095 6,471 6,563
Loss on disposal of investment       110
Impairment loss of investments measured at measurement alternatives       16,500
Impairment loss of equity method investment 0   12,186 0
Impairment loss of property and equipment 0   0 0
Impairment loss of intangible assets, deferred cost and goodwill     2,097,257  
Fair value change of investments 4,773 672 36,432 11,627
Share-based compensation 134,402 18,930 174,236 454,552
Loss on the disposal of business or subsidiary       585
Foreign exchange losses (gains) 10,106 1,423 (48,624) 16,607
Changes in operating assets and liabilities:        
Inventories (629,436) (88,654) 36,412 (304,377)
Prepayments and other receivables, net 43,904 6,184 250,926 (514,815)
Amount due from related parties, net 25,661 3,614 291,045 (132,797)
Funds receivable from third party payment service providers 63,170 8,897 88,818 (280,832)
Other non-current assets (5,180) (730) 9,789 215
Accounts payable 458,957 64,643 14,468 14,110
Contract liabilities (75,654) (10,656) (16,595) 178,079
Accrued expenses and other current liabilities (89,672) (12,630) 177,911 43,297
Accrued payroll and welfare 13,903 1,958 (19,753) (9,613)
Amount due to related parties 30,428 4,286 (72,678) 27,729
Operating lease liabilities (48,508) (6,832) (53,109) (3,751)
Deferred tax liabilities (43,654) (6,149) (111,826) (143,863)
Net cash (used in) provided by operating activities 243,898 34,351 881,297 (1,017,962)
Cash flows from investing activities:        
Purchase of property and equipment (85,183) (11,998) (61,463) (73,920)
Proceeds from disposal of property and equipment 1,243 175 5,517 2,896
Purchases of short-term investments (421,798) (59,409) (666,252) (787,217)
Purchases of long-term investments (120,900) (17,028) (31,844) (215,472)
Proceeds on acquisition of subsidiary, net     29,871  
Prepayment for long-term investment     (180,000)  
Proceeds from maturity of short-term investments 792,179 111,576 394,488 373,696
Loans to related parties (95,000) (13,380) (13,000) (166,400)
Loans to third parties (131,691) (18,548) (12,000) (37,000)
Collection of loan repayment from related parties 95,000 13,380 13,000 200,015
Collection of deposit on loans from third parties 124,163 17,488    
Collection of loan repayments from third parties 14,000 1,972 5,000 33,000
Cash (used in) provided by investing activities 172,013 24,228 (516,683) (670,402)
Cash flows from financing activities:        
Proceeds from short-term borrowings 623,915 87,877 185,983 253,700
Repayment for short-term borrowings (397,966) (56,052) (156,970) (560,972)
Proceeds from exercise of options 2,822 397 2,864  
Repurchase of ordinary shares (160,068) (22,545) (217,920)  
Proceeds from issuance of convertible redeemable preferred shares       1,138,232
Payment for convertible redeemable preferred shares issuance costs       (30,203)
Proceeds from IPO, net of issuance cost of RMB46,931       1,488,866
Cash provided by (used in) financing activities 68,703 9,677 (186,043) 2,289,623
Effect of foreign exchange rate changes on cash and cash equivalents 2,456 346 18,413 (12,993)
Net increase in cash, cash equivalents and restricted cash 487,070 68,602 196,984 588,266
Cash, cash equivalent and restricted cash at the beginning of the year 1,703,626 239,951 1,506,642 918,376
Cash, cash equivalent and restricted cash at the end of the year 2,190,696 308,553 1,703,626 1,506,642
Cash and cash equivalents 1,978,696 278,694 1,703,626 1,356,342
Restricted cash 210,000     150,300
Restricted cash included in the other non-current assets 2,000      
Supplemental cash flow disclosures of operations:        
Interest expenses paid 7,056 994 6,163 16,778
Cash paid for amounts included in the measurement of operating lease liabilities 49,335 6,949 56,646 37,119
Non-cash right-of-use assets obtained in exchange for operating lease liabilities 28,003 3,944 62,609 72,913
Supplemental disclosure of non-cash investing and financing activities:        
Accretion of convertible redeemable preferred shares       508,627
Exercise of warrant       10,345
Payable for preferred shares issuance costs       (5,220)
Payable for purchase of property and equipment ¥ (2,253) $ (317) ¥ (8,193) (3,258)
Receivable from long-term investments       ¥ 22,315