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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Profit / (Loss) Before Income Taxes

The Company’s loss before income taxes consists of:

		As of December 31,
		2019				2020				2021
		RMB				RMB				RMB				US$
Cayman Islands			(16,716	)			(31,966	)			(23,555	)			(3,696	)
British Virgin Islands			(30	)			(27	)			(2	)			—
Hong Kong			(3,097	)			(1,790	)			(1,564	)			(245	)
China			(89,836	)			(191,206	)			(115,431	)			(18,114	)
Total loss before income taxes			(109,679	)			(224,989	)			(140,552	)			(22,055	)

Summary of Composition of Income Tax Expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive loss are as follows:

		As of December 31,
		2019				2020				2021
		RMB				RMB				RMB				US$
Current income tax expense			(162	)			(86	)			(32	)			(5	)
Deferred tax benefit			—				—				—				—
Total income tax expense			(162	)			(86	)			(32	)			(5	)

Summary of Reconciliation Between Expenses of Income Taxes

Reconciliation between the expense of income taxes computed by applying the statutory tax rate to loss before income taxes and the actual provision for income taxes is as follows:

		As of December 31,
		2020				2021
		RMB				RMB				US$
Loss before income tax			(224,989	)			(140,552	)			(22,055	)
Income tax expense computed at PRC statutory rate (25%)			(56,247	)			(35,138	)			(5,514	)
International tax rate differential			8,151				6,023				945
Preferential tax rate			21,963				21,437				3,364
Deferred tax items tax rate differential			(23,337	)			(22,935	)			(3,599	)
Research and development super-deduction			(27,455	)			(32,595	)			(5,115	)
Non-deductible expenses			7,132				8,092				1,270
Deferred tax expenses			347				—				—
Recognition of prior year tax loss/ Expired prior year tax loss			3,382				(4,851	)			(761	)
Changes in valuation allowance			66,150				59,999				9,415
Income tax expense			86				32				5

Summary of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to the deferred tax balances as of December 31, 2020 and 2021 are as follows:

		As of December 31,
		2020				2021
		RMB				RMB				US$
Deferred tax assets
Provision for doubtful debts			23,418				27,327				4,288
Accrued expense			10,841				12,923				2,028
Net operating loss carry forward			164,559				218,042				34,216
Government grant related to assets			684				1,411				221
Property and equipment depreciation			144				—				—
Estimated liabilities			7				—				—
Less: Valuation allowance			(188,119	)			(248,118	)			(38,935	)
Total deferred tax assets			11,534				11,585				1,818
Deferred tax liabilities
Property and equipment depreciation			—				(867	)			(136	)
Net unrealized gain on equity investments held			(3,564	)			(3,564	)			(559	)
Unrealized loan interest income			(7,970	)			(7,154	)			(1,123	)
Total deferred tax liabilities			(11,534	)			(11,585	)			(1,818	)
Net deferred tax assets			—				—				—
Net deferred tax liabilities			—				—				—

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-SubTopic 10
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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