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ORGANIZATION, CONSOLIDATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2023

ORGANIZATION, CONSOLIDATION AND PRINCIPAL ACTIVITIES

Schedule of subsidiaries and variable interest entities

​

​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	Percentage of	​	​
​	​	​	​	​	​	equity interest	​	​
​	​	Date of	​	Place of	​	attributable to	​	​
Name		establishment		establishment		the Company		Principal activities
Subsidiaries	​	​	​	​	​	​	​	​
iHuman Online Limited (“iHuman Online”)		October 2, 2019	​	Hong Kong	​	100	%	Investment holding and operation of online applications
Hongen Perfect Future (Tianjin) Investment Co., Ltd. (“Hongen Investment”, or the “WFOE”)	​	November 11, 2019	​	Mainland China	​	100	%	Management and technical consulting
Hongen Perfect (Beijing) Education Technology Development Co., Ltd.	​	May 19, 2020	​	Mainland China	​	100	%	Research and development
Variable interest entity	​	​	​	​	​	​	​	​
Tianjin Hongen Perfect Future Education Technology Co., Ltd. (“Tianjin Hongen”, or the “VIE”)	​	March 30, 2016	​	Mainland China	​	Nil	​	Operation of online applications
Subsidiary of the VIE	​	​	​	​	​	​	​	​
Beijing Jinhongen Education Technology Co., Ltd. (“Beijing Jinhongen”)	​	September 4, 2019	​	Mainland China	​	Nil	​	Offering of products and other services

Schedule of VIE and its subsidiaries' financial statements

The table sets forth the assets and liabilities of the VIE and VIE’s subsidiaries included in the Group’s consolidated balance sheets:

​

​	​	​	​	​	​	​
​	​	As of December 31,
​	​	2022	​	2023	​	2023
​		RMB		RMB		US$
​	​	(in thousands)
ASSETS
Current assets
Cash and cash equivalents		505,621	​	739,750	​	104,192
Accounts receivable, net of allowance of RMB5,407 and RMB5,926 (US$835) as of December 31, 2022 and 2023, respectively		79,606	​	57,517	​	8,101
Inventories, net		19,199	​	17,084	​	2,406
Amounts due from related parties (including amounts due from Group companies of RMB111,494 and RMB118,806 (US$16,733) as of December 31, 2022 and 2023, respectively)	​	113,233	​	120,067	​	16,911
Prepayments and other current assets		101,022	​	83,200	​	11,718
Total current assets		818,681	​	1,017,618	​	143,328
Non‑current assets				​		​
Property and equipment, net		8,909	​	5,935	​	836
Intangible assets, net		16,554	​	17,033	​	2,399
Operating lease right‑of‑use assets		9,777	​	3,648	​	514
Long-term investment	​	26,333	​	26,333	​	3,709
Other non‑current assets		3,747	​	6,033	​	850
Total non‑current assets		65,320	​	58,982	​	8,308
Total assets		884,001	​	1,076,600	​	151,636
LIABILITIES
Current liabilities
Accounts payable		23,781	​	21,702	​	3,057
Deferred revenue and customer advances		379,063	​	317,270	​	44,687
Amounts due to related parties (including amounts due to Group companies of RMB11,489 and RMB4,943 (US$696) as of December 31, 2022 and 2023, respectively)		16,309	​	8,989	​	1,266
Accrued expenses and other current liabilities		105,897	​	106,256	​	14,966
Current operating lease liabilities		4,626	​	1,927	​	271
Total current liabilities		529,676	​	456,144	​	64,247
Non‑current liabilities		​	​	​	​	​
Non‑current operating lease liabilities		2,894	​	1,933	​	272
Total non‑current liabilities		2,894	​	1,933	​	272
Total liabilities		532,570	​	458,077	​	64,519

​

The VIE and VIE’s subsidiaries’ net asset balances were RMB351,431 thousand and RMB618,523 thousand (US$87,117 thousand) as of December 31, 2022 and 2023, respectively.

1. ORGANIZATION, CONSOLIDATION AND PRINCIPAL ACTIVITIES (Continued)

The table sets forth the results of operations of the VIE and VIE’s subsidiaries included in the Group’s consolidated statements of comprehensive income (loss) for the years ended December 31, 2021, 2022 and 2023, respectively:

​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,
​	​	2021	​	2022	​	2023	​	2023
​		RMB		RMB		RMB		US$
​	​	(in thousands)
Revenues	​	944,722	​	985,436	​	1,010,418	​	142,314
Net income		92,175	​	189,204	​	258,999	​	36,479

​

The table sets forth the cash flows of the VIE and VIE’s subsidiaries included in the Group’s consolidated statements of cash flows for the years ended December 31, 2021, 2022 and 2023, respectively:

​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,
​	​	2021	​	2022	​	2023	​	2023
​		RMB		RMB		RMB		US$
​	​	(in thousands)
Net cash provided by operating activities	​	144,980	​	258,279	​	215,169	​	30,306
Net cash provided by (used in) investing activities		(76,555)	​	(68,433)	​	18,960	​	2,670
Net cash provided by financing activities		97	​	—	​	—	​	—
Net increase in cash and cash equivalents		68,522	​	189,846	​	234,129	​	32,976

​

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