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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
CNY (¥)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
CNY (¥)
Dec. 31, 2022
CNY (¥)
Operating activities:        
Net loss ¥ (989,870) $ (135,611) ¥ (1,015,495) ¥ (1,607,146)
Adjustments to reconcile net loss to net cash used in operating activities:        
Allowance for doubtful accounts 13,865 1,899 7,525 6,887
Reversal of provision for prepayments and other current assets 0 0 (1,310) (1,935)
Write-down of inventories 6,666 913 10,641 35,406
Share-based compensation 136,950 18,762 174,025 725,651
Depreciation and amortization 148,255 20,311 85,799 74,559
Reduction of carrying amount of right-of-use assets 42,052 5,761 38,842 41,975
Loss/(Income) from equity method investments (40,329) (5,525) 43,065 71,928
Gains on deconsolidation of a subsidiary 0 0 0 (71,974)
Gains on sale of an equity security 0 0 0 (59,728)
Change in fair value of an equity security 44,019 6,031 22,451 16,843
Amortization of debt issuance costs 2,082 285 2,863 0
Change in fair value of warrant liabilities 3,431 470 (11,719) 3,245
Loss/(Gain) on disposal of property, equipment and intangible assets (465) (64) 1,751 1,939
Unrealized exchange losses/(gains) (4,592) (628) 2,515 1,857
Impairment of property, plant and equipment and intangible assets 1,687 231 10,237 0
Deferred income tax benefit (18,239) (2,499) (114) 0
Government grants 790 108 0 0
Changes in operating assets and liabilities, net of effects of consolidation/ deconsolidation of subsidiaries and the VIEs:        
Notes receivable 42,218 5,784 74,509 (41,433)
Inventories (72,773) (9,970) 11,150 5,341
Amounts due from related parties (11,056) (1,515) 37,880 (87,080)
Prepayments and other current assets and other non-current assets 148,070 20,286 (19,364) (189,669)
Notes payable 132,057 18,092 (158,446) 41,101
Amounts due to related parties (7,778) (1,066) (7,179) 3,808
Accrued expenses and other current liabilities (104,338) (14,294) (103,334) 204,830
Operating lease liabilities (29,886) (4,094) (21,545) (34,985)
Provisions 19,204 2,631 60,155 14,424
Net cash used in operating activities (430,279) (58,947) (1,232,952) (461,337)
Investing activities:        
Cash paid for acquisition of short-term investments (294,000) (40,278) (163,944) 0
Proceeds from redemption of short-term investments 310,000 42,470 24,000 0
Loans and advances to related parties (10,800) (1,480) (214,000) (57,260)
Cash collection of loans to related parties and advances to related parties 17,700 2,425 214,000 29,360
Cash paid for acquisition of equity method investments (53,900) (7,384) 0 (79,442)
Proceeds from sale of HaleyTek AB 140,725 19,279 0 0
Cash received on deconsolidation of Hubei Dongjun 0 0 0 1,000
Financial support to an equity method investee 0 0 0 (28,500)
Proceeds from sale of Zenseact 0 0 792,063 0
Purchase of property, equipment and intangible assets (114,648) (15,707) (62,194) (157,286)
Proceeds from disposal of property, equipment and intangible assets 1,579 216 2,158 1,732
Net cash provided by investing activities (59,905) (8,208) 592,083 (313,039)
Financing activities:        
Cash contributed by redeemable noncontrolling shareholders 0 0 0 10,000
Proceeds from sale of HaleyTek AB (1,600,000) (219,199) (1,500,000) (1,270,000)
Repayment of short-term borrowings (1,447,140) (198,257) (1,170,000) (1,332,000)
Proceeds from issuance of convertible notes 0 0 0 527,281
Payment for issuance costs of convertible notes 0 0 (3,396) (2,938)
Borrowings from related parties 599,000 82,063 300,000 700,000
Repayment of borrowings from related parties (449,000) (61,513) (300,000) (700,000)
Acquisition of an entity under common control (13,920) (1,907) 0 0
Cash payment not soon after purchase of intangible assets (53,000) (7,261) 0 0
Cash disposed in restructuring 0 0 0 (20,000)
Cash proceeds from COVA 0 0 0 43,724
Cash proceeds from Geely strategic investment 0 0 0 139,200
Cash paid for costs of the Merger 0 0 (78,570) (136,985)
Cash paid for repurchase of ordinary shares (21,898) (3,000) 0 0
Cash paid to acquire noncontrolling interests (2,403) (329) 0 0
Proceeds from conditional government grants 50,000 6,850 48,792 0
Net cash provided by financing activities 261,639 35,845 296,826 657,767
Effect of foreign currency exchange rate changes on cash and restricted cash (2,889) (396) 41,500 28,906
Net decrease in cash (231,434) (31,706) (302,543) (87,703)
Cash and restricted cash at the beginning of the period 598,886 82,047 901,429 989,132
Cash and restricted cash at the end of the period 367,452 50,341 598,886 901,429
Supplemental information:        
Income tax paid 12,793 1,753 1,985 0
Interest paid 112,134 15,362 63,859 28,908
Non-cash investing and financing activities:        
Payable for purchase of property, equipment and intangible assets 139,602 14,079 127,595 24,186
Receivables from partial sale of equity interest in SiEngine 130,000 17,810 0 0
Receivables from shares issued upon exercise of options 717 98 0 0
Transfer of notes receivable as part of consideration to purchase intangible assets 0 0 50,000 0
Non-cash assets distributed to shareholders of the company in the Restructuring (Note 1(c)) 0 0 0 247,875
Payable for issuance cost of convertible notes payable 0 0 0 5,621
Amounts due from a related party for sale of Zenseact 0 0 0 763,192
Issuance of ordinary shares in exchange for an equity security 0 0 0 87,615
Payables for costs of the Merger 0 0 0 133,554
Conversion of Convertible Redeemable Preferred Shares to ordinary shares (Note 1(b) and Note 19) 0 0 0 5,492,749
Conversion of convertible notes payable to Class A Ordinary Shares 0 0 0 69,600
Nonrelated Party        
Changes in operating assets and liabilities, net of effects of consolidation/ deconsolidation of subsidiaries and the VIEs:        
Accounts receivable 85,624 11,730 133,729 (238,197)
Accounts payable - third parties (232,141) (31,803) 375,486 795,226
Contract liabilities - third parties 4,954 679 (4,153) 1,774
Related Party        
Changes in operating assets and liabilities, net of effects of consolidation/ deconsolidation of subsidiaries and the VIEs:        
Accounts receivable 195,788 26,823 (746,235) (68,939)
Accounts payable - third parties 206,710 28,319 21,056 130,242
Contract liabilities - third parties (153,234) (20,993) (257,737) (237,287)
Hubei Dongjun Automotive Electronics Technology Co., Ltd.        
Investing activities:        
Payments for acquisition, net of cash acquired (11,376) (1,559) 0 0
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:        
Payments for acquisition, net of cash acquired (45,185) (6,190) 0 0
Cash disposed on deconsolidation of Suzhou Photon-Matrix 0 0 0 (22,643)
Series B Preferred Shares        
Financing activities:        
Proceeds from issuance of Series B Convertible Redeemable Preferred Shares ¥ 0 $ 0 ¥ 0 ¥ 159,485