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Reverse Recapitalization (Tables)
 12 Months Ended
Dec. 31, 2025
Reverse Recapitalization  
Schedule of Ordinary Shares Issued Immediately Following Consummation of Reverse Recapital

The number of ordinary shares issued immediately following the consummation of the Reverse Recapitalization were as follows:

 

   Number of
shares		 
CCT’s ordinary shares outstanding at December 31, 2022   432,673,255 
CCT’s ordinary shares issued to the Preferred Shareholders (Note 14)   17,942,206 
CCT’s ordinary shares outstanding prior to the Reverse Recapitalization   450,615,461 
      
Conversion of CCT’s ordinary shares(1)   33,098,268 
Conversion of CCT’s convertible redeemable preferred shares(1)   35,190,468 
Conversion of Prime Impact’s Class A ordinary shares(2)   375,193 
Conversion of Prime Impact’s Class B ordinary shares(2)   4,341,052 
Ordinary shares attributable to conversion   73,004,981 
Ordinary shares attributable to Prime Impact Cayman LLC(3)   634,228 
Ordinary shares attributable to World Dynamic Limited(3)   1,300,000 
Ordinary shares attributable to Goldrock Holdings Limited(3)   500,000 
Total number of ordinary shares as of closing of the Reverse Recapitalization and PIPE transactions   75,439,209 

 

(1) On the Closing Date, CCT converted its (i) 450,615,461 issued and outstanding ordinary shares; and (ii) 479,099,566 convertible redeemable preferred shares, issued and outstanding immediately prior to the Reverse Recapitalization into 33,098,268 and 35,190,468 Class A ordinary shares of the Company, respectively, based on the conversion ratio of 13.6145:1.
   
(2) On the Closing Date, Prime Impact converted its issued and outstanding (i) 375,193 Class A ordinary shares; and (ii) 4,341,052 Class B ordinary shares into 4,716,245 Class A ordinary shares of the Company.
   
(3)

On September 11, 2023, Prime Impact, CCT and the Company entered into certain Subscription Agreements and a Backstop Agreement with global institutional investors in connection with the Business Combination. Pursuant to such agreements, the Company issued 634,228, 1,300,000, and 500,000 Class A ordinary shares to the Sponsor, World Dynamic Limited, and Goldrock Holdings Limited for the consideration of US$10.00 per share, respectively. 
Schedule of Supplemental Reverse Recapitalization

Supplemental schedule about Reverse Recapitalization

 

   For the year ended
December 31,		 
   2023 
    RMB 
Cash held by Prime Impact and cash related to Prime Impact trust account   360,745 
Less redemptions   (331,574)
Cash related to trust account, net of redemptions   29,171 
Cash consideration for the subscription of shares by the Sponsor   14,787 
Cash available for payment of costs   43,958 
Less cash paid associated with transaction costs allocated to Reverse Recapitalization   (33,031)
Less cash paid on behalf of the Company for professional expenses   (2,318)
Proceeds from PIPE financing – Prime Impact Cayman LLC   8,609
Proceeds from PIPE financing – World Dynamic Limited   93,436 
Proceeds from PIPE financing – Goldrock Holdings Limited   35,863 
Total contributions from PIPE financing   137,908 
Less cash payment associated with transaction costs allocated to PIPE   (4,953)
Net contributions from Reverse Recapitalization and PIPE financing   132,955