Basis of presentation

For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries and VIE under the equity method of accounting as prescribed in ASC 323,

Investments—Equity Method and Joint Ventures

. Such investments are presented on the condensed balance sheets as “Long-term investments” and the subsidiaries’ and VIE’s losses as “Share of losses of subsidiaries and VIE” on the condensed statements of comprehensive loss.

The subsidiaries did not pay any dividends to the Company for the periods presented.

The Company does not have significant commitments or long-term obligations as of the period end other than those presented.

The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.

Condensed Balance Sheets


	As of December 31
	2021			2022
	RMB			RMB			US$
ASSETS:
Current assets:
Cash and cash equivalents		6,724			33,871			4,911
Restricted cash		5,998			—			—
Derivative assets		5,989			—			—
Due from the entities within the Group		6,871			7,655			1,110
Prepayments and other current assets		7,314			20,331			2,947

Total current assets		32,896			61,857			8,968

Non-current assets:
Long-term investments		400,809			334,988			48,569
Other receivables		638			—			—

Total non-current assets		401,447			334,988			48,569

Total assets		434,343			396,845			57,537

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term loan		150,000			—			—
Accrued liabilities and other current liabilities		2,258			3,850			558
Due to the entities within the Group		63,366			265,305			38,466

Total current liabilities		215,624			269,155			39,024

Non-current liabilities:
Deferred revenue		3,276			—			—

Total non-current liabilities		3,276			—			—

Total liabilities		218,900			269,155			39,024

Shareholders’ equity
Class A common shares (par value of US$0.0001 per share as of December 31, 2021 and 2022; 4,920,000,000 shares authorized as of December 31, 2021 and 2022, 62,036,273 shares and 62,731,971 shares issued and outstanding as of December 31, 2021 and 2022, respectively)		38			39			5
Class B common shares (par value of US$0.0001 per share as of December 31, 2021 and 2022; 30,000,000 shares authorized as of December 31, 2021 and 2022, 17,000,189 shares and 17,000,189 shares issued and outstanding as of December 31, 2021 and 2022)		11			11			2
Treasury shares (nil and 182,313 class A common shares as of December 31,2021 and 2022, respectively)		—			(1,689	)		(245	)
Additional paid-in capital		1,021,961			1,037,007			150,352
Accumulated deficit		(819,018	)		(925,982	)		(134,255	)
Accumulated other comprehensive income		12,451			18,304			2,654

Total shareholders’ equity		215,443			127,690			18,513

Total liabilities and shareholders’ equity		434,343			396,845			57,537

Condensed Statements of Comprehensive Loss


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Revenues		—			—			—			—
Cost of Revenues		—			—			—			—

Gross profit		—			—			—			—

Operating expenses
Research and development		—			—
Sales and marketing		—			(553	)		(272	)		(39	)
General and administrative		(15,938	)		(17,785	)		(12,443	)		(1,804	)
Share of losses of subsidiaries and VIE		(193,109	)		(117,029	)		(85,448	)		(12,389	)

Total operating expenses		(209,047	)		(135,367	)		(98,163	)		(14,232	)

Loss from operations		(209,047	)		(135,367	)		(98,163	)		(14,232	)

Foreign exchange gain /(loss), net		6			(3,351	)		(2,467	)		(358	)
Interest income		544			363			43			6
Interest expense		(10,654	)		(7,820	)		(1,985	)		(288	)
Other loss		(5,924	)		(469	)		(5,230	)		(758	)
Change in fair value of foreign currency swap contract		—			6,060			838			121

Loss before income taxes		(225,075	)		(140,584	)		(106,964	)		(15,509	)

Income tax expenses		—			—			—			—

Net loss		(225,075	)		(140,584	)		(106,964	)		(15,509	)


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Net loss attributable to common share holders		(225,075	)		(140,584	)		(106,964	)		(15,509	)

Other comprehensive income
Foreign currency translation adjustments		4,450			1,638			5,853			849

Total other comprehensive income, net of tax		4,450			1,638			5,853			849

Comprehensive loss		(220,625	)		(138,946	)		(101,111	)		(14,660	)

Condensed Statements of Cash Flows


	Year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Net cash (used in)/ provided by operating activities		(17,412	)		(24,383	)		195,530			28,349
Net cash used in investing activities		(6,525	)		(4,859	)		(2,690	)		(390	)
Net cash provided by/ (used in) financing activities		5,257			(54,520	)		(153,040	)		(22,189	)
Effect of exchange rate changes		(3,686	)		4,361			(18,651	)		(2,704	)

Net (decrease)/ increase in cash and cash equivalents and restricted cash		(22,366	)		(79,401	)		21,149			3,066

Cash and cash equivalents and restricted cash at the beginning of year		114,489			92,123			12,722			1,845

Cash and cash equivalents and restricted cash at the end of year		92,123			12,722			33,871			4,911