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Taxation (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of The components of loss before tax

The components of loss before tax are as follows:

		Year ended December 31,
		2022				2023				2024
		RMB				RMB				RMB
Loss before tax
Loss from PRC entities			(607,635	)			(307,901	)			(176,456	)
(Loss)/gain from overseas entities			(38,051	)			68,192				84,403
Total loss before tax			(645,686	)			(239,709	)			(92,053	)
		Year ended December 31,
		2022				2023				2024
		RMB				RMB				RMB
Current income tax expense			—				—				—
Deferred income tax benefit			5,391				9,871				—
Total income tax benefit			5,391				9,871				—

Schedule of Reconciliation of the differences between the statutory EIT rate

Reconciliation of the differences between the statutory EIT rate applicable to losses of the consolidated entities and the income tax benefit of the Group:

		Year ended December 31,
		2022				2023				2024
PRC Statutory income tax rate			25.0	%			25.0	%			25.0	%
Tax rate difference from statutory rate in other jurisdictions (1)			(1.5	%)			8.0	%			21.0	%
Effect of preferential tax rates and tax holiday (2)			(0.5	%)			(4.0	%)			(11.0	%)
Effect of permanent differences (3)			(2.8	%)			(2.6	%)			(25.0	%)
Additional deduction of qualified R&D expenditures			4.2	%			7.7	%			16.0	%
Changes in valuation allowance			(23.4	%)			(19.0	%)			70.0	%
Effect of changes in tax rates			—				—				(25.0	%)
Effect of expiration on NOL			(0.2	%)			(11.0	%)			(49.0	%)
Effect of deconsolidation on NOL			—				—				(22.0	%)
Effective tax rates			0.8	%			4.1	%			—

(1) The tax rate difference is attributed to varying rates in other jurisdictions where the Group is established or operates, such as the Cayman Islands, British Virgin Islands or Hong Kong.

(2) Jiangsu Radnova has been qualified as HNTE and enjoys a preferential income tax rate of 15% during 2022, 2023 and 2024. Since Jiangsu Radnova had cumulative tax losses as of December 31, 2023 and 2024, there was no effect of the tax holiday.

(3) The permanent differences are primarily related to share-based compensation, non-deductible expenses and true-up on NOL.

Schedule of Tax effects of temporary differences that give rise to the deferred tax asset

The tax effects of temporary differences that give rise to the deferred tax asset balances as of December 31, 2023 and 2024 are as follows:

		As of December 31,
		2023				2024
		RMB				RMB
Deferred tax assets
Net accumulated losses-carry forward			522,038				452,178
Accounts receivables allowance			325				259
Fair value change of long-term investment			1,972				4,141
Total deferred tax assets			524,335				456,578
Less: valuation allowance			(521,462	)			(456,578	)
Total deferred tax assets, net of valuation allowance			2,873				—
Amounts offset by deferred tax liabilities			(2,873	)			—
Total deferred tax assets, net			—				—

		As of December 31,
		2023				2024
		RMB				RMB
Deferred tax liabilities
Intangible assets, net			1,909				—
Prepaid expenses			964				—
Total deferred tax liabilities			2,873				—
Amounts offset by deferred tax assets			(2,873	)			—
Total deferred tax liabilities, net			—				—

Schedule of Movement of valuation allowance

Movement of valuation allowance

		Year ended December 31,
		2022				2023				2024
		RMB				RMB				RMB
Balance at beginning of the year			(325,200	)			(476,022	)			(521,462	)
Changes of valuation allowance			(150,822	)			(45,440	)			64,884
Balance at end of the year			(476,022	)			(521,462	)			(456,578	)

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The entire disclosure for valuation and qualifying accounts and reserves.

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-Subsection 09
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-SubTopic 10
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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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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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