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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 (¥)
Operating activities:        
Net loss ¥ (1,015,180) $ (142,985) ¥ (1,607,146) ¥ (1,176,758)
Adjustments to reconcile net loss to net cash used in operating activities:        
Allowance for doubtful accounts 7,525 1,060 6,887 0
Provision of prepayments and other current assets (1,310) (185) (1,935) 3,245
Write-down of inventories 10,641 1,499 35,406 49,485
Share-based compensation 174,025 24,511 725,651 179,933
Depreciation and amortization 85,799 12,085 74,559 65,160
Reduction of carrying amount of right-of-use assets 38,842 5,471 41,975 0
Loss from equity method investments 43,065 6,066 71,928 3,891
Gains on deconsolidation of a subsidiary 0 0 (71,974) (10,579)
Gains on sale of an equity security 0 0 (59,728) 0
Change in fair value of an equity security 22,451 3,162 16,843 0
Amortization of debt issuance costs 2,863 403 0 99,923
Change in fair value of warrant liabilities (11,719) (1,651) 3,245 111,299
Loss on disposal of property, equipment and intangible assets 1,751 247 1,939 1,562
Unrealized exchange (gains) losses 2,515 354 1,857 (12,478)
Impairment of property, equipment and intangible assets 10,237 1,442 0 0
Changes in operating assets and liabilities, net of effects of deconsolidation of subsidiaries and the VIEs:        
Notes receivable 74,509 10,494 (41,433) (19,406)
Inventories 11,150 1,570 5,341 (105,557)
Amounts due from related parties 34,890 4,915 (87,080) (5,757)
Prepayments and other current assets and other non-current assets (17,462) (2,459) (189,669) (157,371)
Notes payable (158,446) (22,317) 41,101 (144,529)
Amounts due to related parties (7,179) (1,011) 3,808 5,253
Accrued expenses and other current liabilities (103,334) (14,554) 204,830 188,317
Operating lease liabilities (21,545) (3,035) (34,985) 0
Provisions 60,155 8,473 14,424 8,769
Net cash used in operating activities (1,243,406) (175,129) (461,337) (907,283)
Investing activities:        
Purchase of property, equipment and intangible assets (62,194) (8,760) (157,286) (85,736)
Proceeds from disposal of property, equipment and intangible assets 2,158 304 1,732 0
Cash paid for acquisition of equity investments 0 0 (79,442) (1,145,637)
Cash paid for acquisition of short-term investments (163,944) (23,091) 0 0
Proceeds from redemption of short-term investments 24,000 3,380 0 0
Cash received on deconsolidation of Hubei Dongjun 0 0 1,000 0
Financial support to an equity method investee 0 0 (28,500) 0
Loans to related parties (214,000) (30,141) (57,260) (48,656)
Cash collection of loans to related parties 214,000 30,141 29,360 90,155
Proceeds from sale of Zenseact 792,063 111,560 0 0
Net cash (used in) provided by investing activities 592,083 83,393 (313,039) (1,198,234)
Financing activities:        
Cash contributed by redeemable non-controlling shareholders 0 0 10,000 30,000
Cash contributed by non-redeemable non-controlling shareholders 0 0 0 202,000
Proceeds from short-term borrowings 1,500,000 211,271 1,270,000 947,000
Repayment of short-term borrowings (1,170,000) (164,791) (1,332,000) (91,000)
Proceeds from issuance of convertible notes 0 0 527,281 0
Payment for issuance costs of convertible notes (3,396) (478) (2,938) 0
Borrowings from related parties 300,000 42,254 700,000 45,152
Repayment of borrowings from related parties (300,000) (42,254) (700,000) (65,152)
Repayment of long-term debt 0 0 0 (1,125,310)
Cash disposed in the Restructuring 0 0 (20,000) 0
Cash proceeds from COVA 0 0 43,724 0
Cash proceeds from Geely strategic investment 0 0 139,200 0
Cash paid for costs of the Merger (78,570) (11,066) (136,985) 0
Proceeds from conditional government grants 48,792 6,872 0 0
Net cash provided by financing activities 296,826 41,808 657,767 2,122,792
Effect of foreign currency exchange rate changes on cash and restricted cash 41,342 5,821 28,906 (32,019)
Net increase (decrease) in cash (313,155) (44,107) (87,703) (14,744)
Cash and restricted cash at the beginning of the year 901,429 126,964 989,132 1,003,876
Cash and restricted cash at the end of the year 588,274 82,857 901,429 989,132
Supplemental information:        
Income tax paid 1,985 280 0 12,557
Interest paid 63,859 8,994 28,908 28,983
Non-cash investing and financing activities:        
Payable for purchase of property, equipment and intangible assets 127,595 17,971 24,186 17,882
Transfer of notes receivable as part of consideration to purchase intangible assets 50,000 7,042 0 0
Re-designation of ordinary shares to Series A Preferred Shares (Note 18) 0 0 0 97,660
Shares issued 0 0 0 620,703
Non-cash assets distributed to shareholders of the Company in the Restructuring (Note 1(d)) 0 0 247,875 0
Payable for issuance cost of convertible notes payable 0 0 5,621 0
Amounts due from a related party for sale of Zenseact (Note 8) 0 0 763,192 0
Issuance of ordinary shares in exchange for an equity security (Note 8) 0 0 87,615 0
Payable for costs of the Merger 0 0 133,554
Conversion of Convertible Redeemable Preferred Shares to ordinary shares (Note 1(b) and Note 18) 0 0 5,492,749 0
Conversion of convertible notes payable to Class A Ordinary Shares 0 0 69,600 0
Nonrelated Party        
Changes in operating assets and liabilities, net of effects of deconsolidation of subsidiaries and the VIEs:        
Accounts receivable - third parties, net 133,729 18,835 (238,197) (45,166)
Accounts payable - third parties 372,818 52,510 795,226 18,699
Contract liabilities - third parties (4,153) (585) 1,774 (4,565)
Related Party        
Changes in operating assets and liabilities, net of effects of deconsolidation of subsidiaries and the VIEs:        
Accounts receivable - third parties, net (719,283) (101,309) (68,939) (96,169)
Accounts payable - third parties (13,023) (1,834) 130,242 (218,143)
Contract liabilities - third parties (257,737) (36,301) (237,287) 353,659
Hubei Dongjun Automotive Electronics Technology Co., Ltd.        
Investing activities:        
Cash disposed on deconsolidation of a subsidiary 0 0 0 (8,360)
Suzhou Photon-Matrix        
Adjustments to reconcile net loss to net cash used in operating activities:        
Gains on deconsolidation of a subsidiary     (71,974)  
Investing activities:        
Cash disposed on deconsolidation of a subsidiary 0 0 (22,643) 0
Series Angel Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares 0 0 0 81,950
Series A Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares 0 0 0 1,032,104
Repayment of refundable deposits in connection with the issuance of Series A Convertible Redeemable Preferred Shares 0 0 0 (1,032,104)
Series A+ Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares 0 0 0 1,331,641
Payment for issuance cost and fees 0 0 0 (10,000)
Series A++ Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares 0 0 0 452,241
Repayment of refundable deposits in connection with the issuance of Series A Convertible Redeemable Preferred Shares 0 0 0 (461,849)
Refundable deposits in connection with the issuance of Convertible Redeemable Preferred Shares 0 0 0 461,849
Series B Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares ¥ 0 $ 0 ¥ 159,485 ¥ 324,270