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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Profit / (Loss) Before Income Taxes

The Company’s loss before income taxes consists of:

		As of December 31,
		2020				2021				2022
		RMB				RMB				RMB				US$
Cayman Islands			(31,966	)			(23,555	)			(21,516	)			(3,120	)
British Virgin Islands			(27	)			(2	)			(13	)			(2	)
Hong Kong			(1,790	)			(1,564	)			(2,540	)			(368	)
Singapore			—				—				34				5
China			(191,206	)			(115,431	)			(84,870	)			(12,305	)
Total loss before income taxes			(224,989	)			(140,552	)			(108,905	)			(15,790	)

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,
		2020				2021				2022
		RMB				RMB				RMB				US$
Current income tax expense			(86	)			(32	)			(26	)			(4	)
Deferred tax benefit			—				—				481				70
Total income tax expense			(86	)			(32	)			455				66

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,
		2021				2022
		RMB				RMB				US$
Loss before income tax			(140,552	)			(108,905	)			(15,790	)
Income tax expense computed at PRC statutory rate (25%)			(35,138	)			(27,226	)			(3,947	)
International tax rate differential			6,023				5,596				811
Preferential tax rate			21,437				5,518				800
Deferred tax items tax rate differential			(22,935	)			(5,399	)			(783	)
Research and development super-deduction			(32,595	)			(28,463	)			(4,127	)
Non-deductible expenses			8,092				4,367				633
Deferred tax expenses			—				(679	)			(98	)
Non-taxable income			—				(157	)			(23	)
Recognition of prior year tax loss			(4,851	)			—				—
Changes in valuation allowance			59,999				45,988				6,668
Income tax expense/(benefit)			32				(455	)			(66	)

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, 2021 and 2022 are as follows:

		As of December 31,
		2021				2022
		RMB				RMB				US$
Deferred tax assets
Provision for doubtful debts			27,327				12,127				1,758
Accrued expense			12,923				12,411				1,799
Net operating loss carry forward			218,042				282,098				40,900
Government grant related to assets			1,411				2,113				306
Estimated liabilities			—				426				62
Lease liabilities			—				3,533				512
Less: Valuation allowance			(248,118	)			(295,401	)			(42,829	)
Total deferred tax assets			11,585				17,307				2,508
Deferred tax liabilities
Property and equipment depreciation			(867	)			(1,636	)			(236	)
Net unrealized gain on equity investments held			(3,564	)			(4,332	)			(628	)
Right-of-use assets			—				(3,049	)			(442	)
Intangible assets arising from acquisition			—				(4,856	)			(704	)
Loan interest income			(7,154	)			(8,258	)			(1,197	)
Total deferred tax liabilities			(11,585	)			(22,131	)			(3,207	)
Net deferred tax assets			—				—				—
Net deferred tax liabilities			—				(4,824	)			(699	)

The Company operates through its WFOE and VIE and evaluates the potential realization of deferred tax assets on an entity basis. The Company recorded valuation allowance against deferred tax assets of those entities that were in a three-year cumulative financial loss and are not forecasting profits in the near future as of December 31, 2021 and 2022. In making such determination, the Company also evaluated a variety of factors including the Company’s operating history, accumulated deficit, existence of taxable temporary differences and reversal periods.

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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
-Paragraph 9
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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-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
-Paragraph 1
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