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v3.25.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
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,
​ |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB
ASSETS | ​ |  |  |
Current assets | ​ |  |  |
Cash and cash equivalents | ​ | 119,319 |  | 210,351
Restricted cash | ​ | 577,121 |  | 520,588
Short-term investments | ​ | 558,299 |  | 170,339
Accounts receivable, net of allowance of RMB19,140 and RMB28,404 (US$3,891) as of December 31, 2023 and 2024, respectively | ​ | 570,942 |  | 537,848
Current contract assets | ​ | 570,621 |  | 614,036
Other current assets | ​ | 151,491 |  | 129,909
Total current assets | ​ | 2,547,793 |  | 2,183,071
Non-current assets | ​ | ​ |  | ​
Non-current contract assets | ​ | 133,318 |  | 149,855
Intangible assets, net | ​ | 174,113 |  | 149,846
Deferred tax assets | ​ | 24,190 |  | 27,028
Goodwill | ​ | 80,751 | ​ | 80,751
Other non-current assets | ​ | 32,438 |  | 39,426
Total non-current assets | ​ | 444,810 |  | 446,906
Total assets | ​ | 2,992,603 |  | 2,629,977
LIABILITIES | ​ | ​ |  | ​
Current liabilities | ​ | ​ |  | ​
Insurance premium payables | ​ | 591,953 |  | 537,344
Accrued expenses and other current liabilities | ​ | 490,698 |  | 534,932
Amount due to related parties | ​ | — |  | 253
Current lease liabilities | ​ | 10,114 |  | 13,232
Total current liabilities | ​ | 1,092,765 |  | 1,085,761
Total non-current liabilities | ​ | 76,506 |  | 90,007
Total liabilities | ​ | 1,169,271 |  | 1,175,768
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
Operating revenue, net | ​ | 2,623,738 |  | 2,331,678 |  | 2,312,629
Net income | ​ | 1,210,591 |  | 697,935 |  | 676,950
Net cash provided by operating activities | ​ | 1,285,615 |  | 804,351 |  | 682,317
Net cash provided by/(used in) investing activities | ​ | 347,543 |  | (681,995) |  | 380,895
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 | ​
Office buildings |  | 25 years |  | 5 | %
Schedule of carrying amount of goodwill | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Insurance |  | Others |  | Total
​ | ​ | RMB | ​ | RMB | ​ | RMB
Balances at January 1, 2022 |  | 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
Additions |  | — |  | — |  | —
Balances at December 31, 2024 |  | 78,579 |  | 2,172 |  | 80,751
Schedule of redeemable non-controlling interests | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB
Balance as of January 1 |  | — | ​ | 92,760
Acquisition of redeemable non-controlling interest |  | 96,296 | ​ | —
Net loss attributable to mezzanine equity classified as non-controlling interest |  | (3,536) | ​ | (16,627)
Balance as of December 31 |  | 92,760 | ​ | 76,133
Schedule of disaggregation of revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
Operating revenue | ​ |  |  |  |  |
Insurance brokerage income | ​ |  |  |  |  |
Short-term insurance brokerage income | ​ | 1,628,902 |  | 1,381,855 |  | 1,309,432
Long-term insurance brokerage income | ​ | 714,426 |  | 823,305 |  | 1,013,406
Subtotal | ​ | 2,343,328 |  | 2,205,160 |  | 2,322,838
Technical service income | ​ | 215,832 |  | 135,755 |  | 40,939
Crowdfunding service fees | ​ | 155,803 |  | 162,683 |  | 267,650
Digital clinical trial solution income | ​ | 59,456 |  | 100,496 |  | 91,066
Other revenues | ​ | 27,349 |  | 26,613 |  | 49,328
Total | ​ | 2,801,768 |  | 2,630,707 |  | 2,771,821
Schedule of contract assets | ​
​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2024
​ | ​ | RMB | ​ | RMB
Contract assets |  | 707,636 |  | 773,790
Less: Allowance for uncollectible accounts |  | (382) |  | (605)
Total |  | 707,254 |  | 773,185
Schedule of allowance for uncollectible accounts | ​
​ | ​ | ​ | ​ | ​
​ |  | As of December 31,
​ |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB
Balance at beginning of year |  | — |  | (382)
Impact of adoption of ASC 326 |  | (185) |  | —
Addition |  | (197) |  | (223)
Balance at end of the year |  | (382) |  | (605)
Schedule of concentration of credit risk | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31, |
​ | ​ | 2022 |  | 2023 |  | 2024 |
​ | ​ | RMB |  | % | ​ | RMB |  | % | ​ | RMB |  | % |
Customer A |  | 320,660 |  | 11.44 | % | * |  | * | ​ | * |  | * | ​
Customer B |  | 357,202 |  | 12.75 | % | * |  | * | ​ | * |  | * | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, |
​ | ​ | 2023 |  | 2024 |
​ | ​ | RMB |  | % | ​ | RMB |  | % |
Customer C |  | 168,394 |  | 12.02 | % | * |  | * | ​
Customer D |  | * |  | * | ​ | 234,744 |  | 15.76 | %

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