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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 6 Months Ended
Jun. 30, 2024
CNY (¥)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
CNY (¥)
Operating activities:      
Net cash used in operating activities ¥ (416,811) $ (57,355) ¥ (960,437)
Investing activities:      
Purchase of equipment and intangible assets (56,236) (7,738) (48,004)
Cash paid for acquisition of equity investments (53,900) (7,417) 0
Cash paid for asset acquisition of Suzhou Photon-Matrix, net of cash acquired (45,185) (6,218) 0
Cash paid for acquisition of short-term investments (294,000) (40,456) 0
Proceeds from redemption of short-term investments 299,400 41,199 0
Loans and advances to related parties (10,800) (1,486) (12,000)
Proceeds from disposal of equipment 675 93 0
Cash collection of loans and advances to related parties 17,700 2,436 8,500
Proceeds from sale of Zenseact 0 0 792,063
Net cash provided by (used in) investing activities (142,346) (19,587) 740,559
Financing activities:      
Proceeds from short-term borrowings 580,000 79,811 480,000
Repayment for short-term borrowings (180,000) (24,769) (480,000)
Payment for issuance costs of convertible notes 0 0 (3,396)
Borrowings from related parties 449,000 61,784 300,000
Repayment of borrowings from related parties (100,000) (13,760) 0
Cash paid for costs of the Merger 0 0 (64,632)
Net cash provided by financing activities 749,000 103,066 231,972
Effect of foreign currency exchange rate changes on cash and restricted cash (931) (128) 14,259
Net increase in cash and restricted cash 188,912 25,996 26,353
Cash and restricted cash at the beginning of the period 598,886 82,409 901,429
Cash and restricted cash at the end of the period 787,798 108,405 927,782
Supplemental information:      
Income tax paid 12,474 1,716 0
Interest paid ¥ 64,220 $ 8,837 ¥ 30,063