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Redeemable Convertible Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Summary of Redeemable Convertible Preferred Shares

The Company’s preferred shares activities for the years ended December 31, 2019, 2020 ad 2021, respectively, are summarized below:

		Series Angel Preferred Shares								Series Angel+ Preferred Shares								Series Pre-A Preferred Shares								Series A Preferred Shares								Series A+ Preferred Shares								Series B Preferred Shares
(in thousands of RMB and US$, except for number of shares)
		Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount
Balance as of December 31, 2018			5,910,100				10,800				—				—				8,985,050				47,004				22,096,550				122,088				1,060,200				12,272				17,140,700				277,706
Issuance of Preferred Shares			—				—				—				—				—				—				—				—				—				—				2,332,400				37,159
Re-designation from ordinary shares to Series Angel+ preferred shares			—				—				7,803,400				18,577				—				—				—				—				—				—				—				—
Accretion of Preferred Shares			—				864				—				(37,233	)			—				3,760				—				9,767				—				982				—				25,369
Deemed dividend			—				—				—				46,168				—				—				—				—
Balance as of December 31, 2019			5,910,100				11,664				7,803,400				27,512				8,985,050				50,764				22,096,550				131,855				1,060,200				13,254				19,473,100				340,234
Balance as of December 31, 2019			5,910,100				11,664				7,803,400				27,512				8,985,050				50,764				22,096,550				131,855				1,060,200				13,254				19,473,100				340,234
Issuance of Preferred Shares			—				—				465,550				10,967				—				—				—				—				—				—				—				—
Accretion of Preferred Shares			—				736				—				2,207				—				4,032				—				10,482				—				1,054				—				24,185
Balance as of December 31, 2020			5,910,100				12,400				8,268,950				40,686				8,985,050				54,796				22,096,550				142,337				1,060,200				14,308				19,473,100				364,419
Balance as of December 31, 2020			5,910,100				12,400				8,268,950				40,686				8,985,050				54,796				22,096,550				142,337				1,060,200				14,308				19,473,100				364,419
Issuance of Preferred Shares
Accretion of Preferred Shares			—				396				—				1,151				—				2,126				—				5,521				—				555				—				17,949
Automatic conversion of preferred shares to ordinary shares upon IPO			(5,910,100	)			(12,796	)			(8,268,950	)			(41,837	)			(8,985,050	)			(56,922	)			(22,096,550	)			(147,858	)			(1,060,200	)			(14,863	)			(19,473,100	)			(382,368	)
Balance as of December 31, 2021			—				—				—				—				—				—				—				—				—				—				—				—
Balance as of December 31, 2021 (US$)							—								—								—								—								—								—

		Series B2 Preferred Shares								Series B3 Preferred Shares								Series B4-1 Preferred Shares								Series B4 Preferred Shares								Series C1 Preferred Shares								Series D Preferred Shares								Series D+ Preferred Shares
		(in thousands of RMB and US$, except for number of shares)
		Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount
Balance as of December 31, 2018			—				—				—				—				—				—				—				—				—				—				—				—				—				—
Issuance of Preferred Shares			11,072,800				203,707				28,013,200				737,920				—				—				6,989,700				195,952				—				—				—				—				—				—
Accretion of Preferred Shares			—				16,323				—				45,884				—				—				—				8,842				—				—				—				—				—				—
Balance as of December 31, 2019			11,072,800				220,030				28,013,200				783,804				—				—				6,989,700				204,794				—				—				—				—				—				—
Balance as of December 31, 2019			11,072,800				220,030				28,013,200				783,804				—				—				6,989,700				204,794				—				—				—				—				—				—
Issuance of Preferred Shares			—				—				—				—				7,269,600				259,914				—				—				51,329,600				2,799,817				—				—				—				—
Accretion of Preferred Shares			—				16,109				—				57,341				—				24,171				—				15,697				—				164,287				—				—				—				—
Balance as of December 31, 2020			11,072,800				236,139				28,013,200				841,145				7,269,600				284,085				6,989,700				220,491				51,329,600				2,964,104				—				—				—				—
Balance as of December 31, 2020			11,072,800				236,139				28,013,200				841,145				7,269,600				284,085				6,989,700				220,491				51,329,600				2,964,104				—				—				—				—
Issuance of Preferred Shares			—				—				—				—				—				—				6,989,750				359,832				2,895,100				158,507				49,207,650				4,547,263				21,264,750				2,099,195
Accretion of Preferred Shares			—				11,702				—				39,479				—				3,871				—				(99,577	)			—				133,863				—				128,382				—				42,962
Automatic conversion of preferred shares to ordinary shares upon IPO			(11,072,800	)			(247,841	)			(28,013,200	)			(880,624	)			(7,269,600	)			(287,956	)			(13,979,450	)			(480,746	)			(54,224,700	)			(3,256,474	)			(49,207,650	)			(4,675,645	)			(21,264,750	)			(2,142,157	)
Balance as of December 31, 2021			—				—				—				—				—				—				—				—				—				—				—				—				—				—
Balance as of December 31, 2021 (US$)							—								—								—								—								—								—								—

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
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-Publisher FASB
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