XML 64 R33.htm IDEA: XBRL DOCUMENT
v3.25.1

Statutory Reserves and Restricted Net Assets | 12 Months Ended
--- | ---
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Statutory Reserves and Restricted Net Assets | 23. STATUTORY RESERVES AND RESTRICTED NET ASSETS Pursuant to laws applicable to entities incorporated in the PRC, the Group’s subsidiaries and consolidated VIE in the PRC must make appropriations from after-tax profit to non-distributable reserve funds. These reserve funds include one or more of the following: (i) a general reserve, (ii) an enterprise expansion fund and (iii) a staff bonus and welfare fund. Subject to certain cumulative limits, the general reserve fund requires an annual appropriation of 10% of after tax profit (as determined under accounting principles generally accepted in the PRC at each year-end) until the accumulative amount of such reserve fund reaches 50% of a company’s registered capital, the other fund appropriations are at the subsidiaries’ discretion. These reserve funds can only be used for specific purposes of enterprise expansion and staff bonus and welfare and are not distributable as cash dividends. During the years ended December 31, 2022, 2023 and 2024, nil statutory reserve has been made by the Group. The statutory reserve of RMB 4,180 was appropriated by the CEIBS Publishing Group’s VIEs before the acquisition. For the year ended December 31, 2024, the Group performed a test on the restricted net assets of subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that the restricted net assets exceeded 25% of the consolidated net assets of the Group as of December 31, 2024 and the condensed financial information of the Company are required to be presented. Condensed Financial Information of the Parent Company Balance Sheet
|  | As of December 31, 2023 |  |  | As of December 31, 2024 |
|  | RMB |  |  | RMB |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 15,466 |  |  |  | 99,459 |
Amounts due from the Group’s entities |  |  | 174,801 |  |  |  | 185,892 |
Investments in subsidiaries, VIE and VIE’s subsidiaries |  |  | 60,013 |  |  |  | — |
Other non-current assets |  |  | 16,253 |  |  |  | 548 |
Total assets |  |  | 266,533 |  |  |  | 285,899 |
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT |  |  |  |  |  |  |  |
Amounts due to the Group’s entities |  |  | 35,613 |  |  |  | 35,613 |
Equity loss in subsidiaries, VIE and VIE’s subsidiaries |  |  | — |  |  |  | 12,021 |
Acquisition consideration payable |  |  | 8,983 |  |  |  | 8,983 |
Other payable and accrued liabilities |  |  | 3,857 |  |  |  | 2,052 |
Derivative liabilities |  |  | 100,279 |  |  |  | — |
Total liabilities |  |  | 148,732 |  |  |  | 58,669 |
|  | As of December 31, 2023 |  |  | As of December 31, 2024 |
|  | RMB |  |  | RMB |
Mezzanine equity |  |  |  |  |  |  |  |
Series A convertible redeemable preferred shares (US$0.0001 par value, 15,040,570 and nil shares authorized, issued and outstanding as of December 31, 2023 and 2024, respectively) |  |  | 408,139 |  |  |  | — |
Series B convertible redeemable preferred shares (US$0.0001 par value, 7,085,330 and nil shares authorized, issued and outstanding as of December 31, 2023 and 2024, respectively) |  |  | 199,518 |  |  |  | — |
Series C convertible redeemable preferred shares (US$0.0001 par value, 23,786,590 and nil shares and authorized, issued and outstanding as of December 31, 2023 and 2024, respectively) |  |  | 493,788 |  |  |  | — |
Series D convertible redeemable preferred shares (US$0.0001 par value, 37,152,161 and nil shares authorized, issued and outstanding as of December 31, 2023 and 2024, respectively) |  |  | 1,059,434 |  |  |  | — |
Series E convertible redeemable preferred shares (US$0.0001 par value, 26,417,318 and nil shares authorized, issued and outstanding as of December 31, 2023 and 2024, respectively) |  |  | 1,402,802 |  |  |  | — |
Total mezzanine equity |  |  | 3,563,681 |  |  |  | — |
Shareholders’ (deficit)/equity |  |  |  |  |  |  |  |
Ordinary shares (US$0.0001 par value per share; 390,518,031 shares authorized as of December 31, 2023; 48,253,425 shares issued and outstanding as of December 31, 2023 ; None authorized, issued and outstanding as of December 31, 2024) |  |  | 33 |  |  |  | — |
Class A Ordinary shares (US$0.0001 par value per share; none authorized, issued and outstanding as of December 31, 2023; 483,068,176 Class A ordinary shares authorized, 163,294,773 Class A ordinary shares issued and outstanding as of December 31, 2024) |  |  | — |  |  |  | 118 |
Class B Ordinary shares (US$0.0001 par value per share; none authorized, issued and outstanding as of December 31, 2023; 16,931,824 Class B ordinary shares authorized, issued and outstanding as of December 31, 2024) |  |  | — |  |  |  | 11 |
Additional paid-in capital |  |  | 16,671 |  |  |  | 3,489,553 |
Accumulated other comprehensive income |  |  | 23,775 |  |  |  | 25,096 |
Accumulated deficit |  |  | (3,486,359 | ) |  |  | (3,287,548 | )
Total shareholders’ (deficit)/equity |  |  | (3,445,880 | ) |  |  | 227,230 |
Total liabilities, mezzanine equity and shareholders’ (deficit)/equity |  |  | 266,533 |  |  |  | 285,899 |
Statements of Comprehensive Loss
|  | Year Ended December 31, 2022 |  |  | Year Ended December 31, 2023 |  |  | Year Ended December 31, 2024 |
|  | RMB |  |  | RMB |  |  | RMB |
General and administrative |  |  | (9,050 | ) |  |  | (27,856 | ) |  |  | (15,730 | )
Equity in loss of the Group’s entities |  |  | (575,930 | ) |  |  | (295,718 | ) |  |  | (106,358 | )
Loss from operation |  |  | (584,980 | ) |  |  | (323,574 | ) |  |  | (122,088 | )
Interest and investment income |  |  | 2,454 |  |  |  | 756 |  |  |  | 408 |
Interest expense |  |  | (59 | ) |  |  | (56 | ) |  |  | (23 | )
Impairment of available-for-sale debt securities |  |  | — |  |  |  | — |  |  |  | (4,428 | )
Change in fair value of derivative liabilities |  |  | (32,190 | ) |  |  | 102,419 |  |  |  | 34,378 |
Loss before income tax expense |  |  | (614,775 | ) |  |  | (220,455 | ) |  |  | (91,753 | )
Net loss |  |  | (614,775 | ) |  |  | (220,455 | ) |  |  | (91,753 | )
Net accretion on convertible redeemable preferred shares to redemption value |  |  | (396,716 | ) |  |  | (9,452 | ) |  |  | (290,543 | )
Deemed contribution to ordinary shareholders due to modifications and extinguishment on convertible redeemable preferred shares |  |  | — |  |  |  | — |  |  |  | 672,170 |
Deemed dividend to preferred shareholders due to modifications |  |  | — |  |  |  | — |  |  |  | (5,940 | )
Net (loss)/income attributable to ordinary shareholders |  |  | (1,011,491 | ) |  |  | (229,907 | ) |  |  | 283,934 |
Statement of Cash Flows
|  | Year Ended December 31, 2022 |  |  | Year Ended December 31, 2023 |  |  | Year Ended December 31, 2024 |
|  | RMB |  |  | RMB |  |  | RMB |
Net cash used in operating activities |  |  | (6,211 | ) |  |  | (29,486 | ) |  |  | (20,519 | )
Net cash used in investing activities |  |  | (150,456 | ) |  |  | (172,856 | ) |  |  | (44,013 | )
Net cash (used in)/ provided by in financing activities |  |  | (2,425 | ) |  |  | (3,896 | ) |  |  | 151,029 |
Effect of exchange rate changes on cash and cash equivalents |  |  | 22,430 |  |  |  | 8,146 |  |  |  | (2,504 | )
Net (decrease)/increase in cash and cash equivalents |  |  | (136,662 | ) |  |  | (198,092 | ) |  |  | 83,993 |
Cash and cash equivalents at beginning of the year |  |  | 350,220 |  |  |  | 213,558 |  |  |  | 15,466 |
Cash and cash equivalents at end of the year |  |  | 213,558 |  |  |  | 15,466 |  |  |  | 99,459 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Statutory reserves and Restricted net assets + References No definition available. + Details
Name: | yxt_StatutoryReservesAndRestrictedNetAssetsTextBlock
Namespace Prefix: | yxt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration