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LEASE | 12 Months Ended
--- | ---
Dec. 31, 2024
LEASE |
LEASE | 11.LEASE A. Leases of medical equipment as lessor The following table presents the lease receivables derive from the Group’s operating, sales-type and direct financing leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ |  | 2023 |  | 2024 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | US$
Current |  |  |  |  |  |
Account receivable - Operating lease |  | 14,683 | ​ | 11,816 | ​ | 1,619
Account receivable - Sales-type lease |  | 1,515 | ​ | 2,178 | ​ | 298
​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | 16,198 | ​ | 13,994 | ​ | 1,917
​ Lease receivables for operating and sales-type leases are presented in accounts receivable on the consolidated balance sheets. Lease receivables for direct financing leases are presented as net investment in direct financing leases. As of December 31, 2023, and 2024, the allowance of lease receivables was RMB2,175 and RMB2,136 (US$293), respectively. Accordingly, risk of default with respect to these receivables is remote. Lease receivables with carrying value of RMB1,759 and RMB7,137 (US$978) (note 19) were pledged as collaterals for bank and other borrowings of RMB40,066 and RMB23,086 (US$3,163) as of December 31, 2023 and 2024, respectively. The following table presents the lease income recognized relating to the Group’s operating, sales-type and direct financing leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | Direct financing | ​ | ​ | ​ | ​
​ | ​ | Sales-type leases | ​ | leases | ​ | Operating leases
​ |  | RMB |  | US$ |  | RMB |  | US$ |  | RMB |  | US$
Selling loss recognized at the commencement date | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest income on net investment in the lease | ​ | 2,637 | ​ | 361 | ​ | — | ​ | — | ​ | — | ​ | —
Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease | ​ | 2,637 | ​ | 361 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease income relating to lease payments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 6,719 | ​ | 920
Including: Income relating to variable lease payments not included in the measurement of lease receivable | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 6,719 | ​ | 920
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | Direct financing | ​ | ​ | ​ | ​
​ | ​ | Sales-type leases | ​ | leases | ​ | Operating leases
​ |  | RMB |  | US$ |  | RMB |  | US$ |  | RMB |  | US$
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling loss recognized at the commencement date |  | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest income on net investment in the lease |  | 3,366 | ​ | 474 | ​ | — | ​ | — | ​ | — | ​ | —
Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease |  | 3,366 | ​ | 474 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease income relating to lease payments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 13,371 | ​ | 1,883
Including: Income relating to variable lease payments not included in the measurement of lease receivable |  | — | ​ | — | ​ | — | ​ | — | ​ | 13,371 | ​ | 1,883
​ The Group’s lease assets do not contain material residual value by the end of the lease term. In order to mitigate the risks associated with the residual value of its leased assets, the Group usually enters into arrangements where the lease terms are approximate to the economic useful life of the leased assets so as to minimize their residual value. The future minimum lease payments to be received from such non-cancelable operating leases are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Future minimum
​ | ​ | operating lease payments
​ |  | RMB |  | US$
2025 |  | 1,476 | ​ | 202
2026 |  | 931 |  | 128
2027 |  | — |  | —
2028 |  | — |  | —
2029 |  | — |  | —
Above 5 years |  | — |  | —
​ Lease payments for the Group’s sales-type lease payments are all variable based on the profit or revenue generated from the underlying assets thus the Group does not recognize any net investment in the lease at commencement. B. Failed sales-leaseback transactions as seller-lessee The Group has failed sales-leaseback transactions in which the Group acts as seller-lessee but does not effectively transfer control of the underlying asset to the buyer-lessor. The Group accounts for failed sales-leaseback transactions as financings. The Group recorded RMB62,543 (US$8,568) and RMB221,438 (US$30,337) under “Long-term bank and other borrowings, current portion” and “Long-term bank and other borrowings, non-current portion”, respectively as of December 31, 2024. The effective interest rate used in the computation of interest expense ranged from 2.08% to 11.68%. Interest expenses recorded in the Group’s consolidated statement of comprehensive loss amounted to RMB47,049, RMB74,024, and RMB15,848 (US$2,171) for the years ended December 31, 2022, 2023 and 2024, respectively. C. Operating leases as lessee The components of lease cost were as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, 2024
​ |  | RMB |  | US$
Operating lease cost |  | 31,824 | ​ | 4,360
Short term lease cost |  | 289 | ​ | 40
​ | ​ | ​ | ​ | ​
Total |  | 32,113 | ​ | 4,400
​ For the year ended December 31, 2024, total operating and short-term lease costs of RMB14,915 (US$2,044) and RMB17,197 (US$2,356) were recorded in cost of revenue and general and administrative expenses, respectively. Other information ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year |
​ | ​ | ended December 31, 2024 |
​ |  | RMB |  | US$ |
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | 19,802 | ​ | 2,713 | ​
ROU assets obtained in exchange for operating lease liabilities* |  | 221 | ​ | 30 | ​
Weighted-average remaining lease terms (in years) | ​ | 3.0 | ​ | 3.00 | ​
Weighted-average discount rate |  | 5.07 | % | 5.07 | %
* Includes new leases entered into during the year ended December 31, 2024. Changes in the ROU asset and liability are presented net within operating activities. Future minimum lease payments for operating leases as of December 31, 2024 are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Minimum Lease Payments
​ |  | RMB |  | US$
Year ending December 31, |  |  |  |
2025 |  | 47,475 | ​ | 6,504
2026 |  | 14,973 | ​ | 2,051
2027 |  | 14,274 | ​ | 1,956
2028 |  | 14,261 | ​ | 1,954
2029 |  | 14,261 | ​ | 1,954
Thereafter |  | 87,083 | ​ | 11,930
Total future lease payments |  | 192,327 | ​ | 26,349
Less: Imputed interest |  | 7,985 | ​ | 1,095
Total lease liability balance |  | 184,342 | ​ | 25,254
​ The Group did not have any leasing transactions with related parties. Land use rights The following table presents the original cost payment, accumulated amortization and net carrying value of the Group’s land use rights for the periods presented: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ | ​ | 2023 | ​ | 2024 | ​ | 2024
​ | ​ | RMB | ​ | RMB | ​ | US$
​ | ​ | Right-of-use | ​ | Right-of-use | ​ | Right-of-use
​ |  | Asset |  | asset |  | asset
​ | ​ | ​ | ​ | ​ | ​ | ​
Land use rights | ​ | 464,209 | ​ | 464,209 | ​ | 63,596
Less: accumulated amortization |  | (66,350) | ​ | (75,977) | ​ | (10,409)
Net carrying value |  | 397,859 | ​ | 388,232 | ​ | 53,187
​ As of December 31, 2023 and 2024, the Group recorded land lease payment under “Prepaid land lease payment” and “Right-of-use assets, net” of RMB397,859 and RMB388,233 (US$53,187), respectively. Amortization expenses for the years ended December 31, 2022, 2023 and 2024 were RMB9,627, RMB9,627 and RMB9,627 (US$1,319), respectively. The net book value of the Group’s land use right payments pledged to secure bank and other borrowings was RMB386,614 and RMB377,255 (US$ 51,684) (note 19) as of December 31, 2023 and 2024, respectively. The estimated annual amortization expenses for the land leases payment for each of the five succeeding years are as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Amortization
​ |  | RMB |  | US$
2025 | ​ | 9,627 | ​ | 1,319
2026 | ​ | 9,627 | ​ | 1,319
2027 | ​ | 9,627 | ​ | 1,319
2028 | ​ | 9,627 | ​ | 1,319
2029 | ​ | 9,627 | ​ | 1,319
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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