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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Schedule of the assets, liabilities, results of operations and cash flows of the VIEs and their subsidiaries

​

​	​	​	​	​
​		As of December 31,
​		2022		2023
​	​	RMB	​	RMB
ASSETS	​
Current assets	​
Cash and cash equivalents	​	391,175		119,319
Restricted cash	​	517,364		577,121
Short-term investments	​	—		558,299
Accounts receivable, net of allowance of RMB10,199 and RMB19,140 (US$2,696) as of December 31, 2022 and 2023, respectively	​	586,373		570,942
Current contract assets	​	450,085		570,621
Other current assets	​	232,412		151,491
Total current assets	​	2,177,409		2,547,793
Non-current assets	​
Non-current contract assets	​	103,591		133,318
Intangible assets, net	​	53,192		174,113
Deferred tax assets	​	6,166		24,190
Goodwill	​	3,420	​	80,751
Other non-current assets	​	32,720		32,438
Total non-current assets	​	199,089		444,810
Total assets	​	2,376,498		2,992,603
LIABILITIES	​
Current liabilities	​
Insurance premium payables	​	516,661		591,953
Accrued expenses and other current liabilities	​	453,996		490,698
Amount due to related parties	​	44		—
Current lease liabilities	​	9,122		10,114
Total current liabilities	​	979,823		1,092,765
Total non-current liabilities	​	33,979		76,506
Total liabilities	​	1,013,802		1,169,271

​

​	​	​	​	​	​	​
​		Year Ended December 31,
​		2021		2022		2023
​	​	RMB	​	RMB	​	RMB
Operating revenue, net	​	3,193,807		2,623,738		2,331,678
Net (loss)/income	​	(505,603)		1,210,591		697,935
Net cash (used in)/provided by operating activities	​	(240,527)		1,285,615		804,351
Net cash (used in)/provided by investing activities	​	(99,240)		347,543		(681,995)
Net cash used in financing activities	​	—		—		—

Schedule of estimated useful life and residual value

​

​	​	​	​	​	​
Category		Estimated useful life		Residual value
Office furniture and equipment		5 years		5	%
Computer and electronic equipment		3 years		5	%
Leasehold improvements		shorter of remaining lease period and estimated useful life		Nil	​
Software		10 years		Nil	​

Schedule of redeemable non-controlling interests

​

​	​	​
​		December 31, 2023
​	​	RMB
Balance as of January 1, 2023		—
Acquisition of redeemable non-controlling interest		96,296
Net loss attributable to mezzanine equity classified as non-controlling interests		(3,536)
Balance as of December 31, 2023		92,760

Schedule of carrying amount of goodwill

​

​	​	​	​	​	​	​
​		Insurance		Others		Total
​	​	RMB	​	RMB	​	RMB
Balances at January 1, 2021		1,248		1,871		3,119
Additions		—		301		301
Balances at December 31, 2021		1,248		2,172		3,420
Additions		—		—		—
Balances at December 31, 2022		1,248		2,172		3,420
Additions		77,331		—		77,331
Balances at December 31, 2023		78,579		2,172		80,751

Schedule of disaggregation of revenue

​

​	​	​	​	​	​	​
​		Year Ended December 31,
​		2021		2022		2023
​	​	RMB	​	RMB	​	RMB
Operating revenue	​
Insurance brokerage income	​
Short-term insurance brokerage income	​	2,037,677		1,628,902		1,381,855
Long-term insurance brokerage income	​	789,790		714,426		823,305
Subtotal	​	2,827,467		2,343,328		2,205,160
Technical service income	​	243,542		215,832		135,755
Crowdfunding service fees	​	—		155,803		162,683
Digital clinical trial solution income	​	566		59,456		100,496
Management fee income	​	2,745		—		—
Other revenues	​	131,594		27,349		26,613
Total	​	3,205,914		2,801,768		2,630,707

Schedule of contract assets

​

​	​	​	​	​
​		December 31,		December 31,
​	​	2022	​	2023
​	​	RMB	​	RMB
Contract assets		553,676		707,636
Less: Allowance for uncollectible accounts		—		(382)
Total		553,676		707,254

Schedule of allowance for uncollectible accounts

​

​	​	​	​	​
​		As of December 31,
​		2022		2023
​	​	RMB	​	RMB
Balance at beginning of year		—		—
Impact of adoption of ASC 326		—		(185)
Addition		—		(197)
Balance at end of the year		—		(382)

Schedule of concentration of credit risk

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31,
​	​	2021				2022				2023
​	​	RMB		%	​	RMB		%	​	RMB		%
Customer A		457,995		14.29	​	231,026		8.25	​	215,851		8.21	​
Customer B		367,434		11.46	​	320,660		11.44	​	112,403		4.27	​
Customer C		104,928		3.27	​	357,202		12.75	​	153,121		5.82	​
Customer D		429		0.01	​	83,167		2.97	​	199,584		7.59	​
​		930,786		29.03	​	992,055		35.41	​	680,959		25.89	​

​

​	​	​	​	​	​	​	​	​	​
​		As of December 31,
​	​	2022				2023
​	​	RMB		%	​	RMB		%
Customer A		78,775		6.41	​	93,947		6.71	​
Customer B		151,033		12.28	​	21,952		1.57	​
Customer C		232,259		18.89	​	128,749		9.19	​
Customer D		58,028		4.72	​	168,394		12.02	​
​		520,095		42.30	​	413,042		29.49	​

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