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Discontinued operations | 12 Months Ended
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Dec. 31, 2020
Discontinued operations |
Discontinued operations | 3. Discontinued operations On December 10, 2017, pursuant to the resolutions of the shareholders and board of directors, the Company decided to discontinue the electric vehicle sales facilitation business (the “Discontinued Business”). The Discontinued Business represents a strategic shift that has a major effect on the Group’s operations and financial results. On June 30, 2018, the Company completed the disposal of the Discontinued Business, resulting a gain of disposal of RMB0.8 million. The following is the results of discontinued operations: Results of discontinued operations:
|  | For the period from
|  | January 1 to June 30,
|  | 2018
|  | RMB
Net revenues |  | 4,807
Cost of revenues |  | (280)
Gross profit |  | 4,527
Operating expenses: |  |
Selling and marketing expenses |  | (6,800)
General and administrative expenses |  | (1,368)
Total operating expense |  | (8,168)
Loss from operations |  | (3,641)
Other expenses: |  |
Interest expenses, net |  | (676)
Gain from disposal of discontinued operations |  | 771
Others, net |  | (66)
Loss from discontinued operations before income taxes |  | (3,612)
Income tax expense |  | —
Net loss from discontinued operations |  | (3,612)
Cash flows of the discontinued operations:
|  | For the period from
|  | January 1 to June 30,
|  | 2018
|  | RMB
Cash flows used in discontinued operations |  |
Net cash used in operating activities |  | (2,817)
Net cash used in investing activities |  | —
Net cash used in financing activities |  | (2,513)
Net decrease in cash and cash equivalents |  | (5,330)

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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