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TAXATION (Tables)

12 Months Ended

Dec. 31, 2024

TAXATION

Schedule of loss before income taxes

​

​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2022	​	2023	​	2024	​	2024
​		RMB		RMB		RMB		US$
Non – PRC		45,211	​	20,824	​	(36,488)	​	(4,999)
PRC		(885,107)	​	(576,418)	​	(633,092)	​	(86,732)
​		(839,896)	​	(555,594)	​	(669,580)	​	(91,731)

Schedule of current and deferred components of the income tax expense (benefit)

​

​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2022	​	2023	​	2024	​	2024
​		RMB		RMB		RMB		US$
Current tax benefit	​	(8,765)	​	(7,014)	​	(2,269)	​	(311)
Deferred tax benefit	​	(62,141)	​	(17,559)	​	(15,236)	​	(2,087)
​	​	(70,906)	​	(24,573)	​	(17,505)	​	(2,398)

Schedule of reconciliation of the differences between the statutory tax rate and the effective tax rate for EIT

​

​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2022	​	2023	​	2024	​	2024
​		RMB		RMB		RMB		US$
Loss before income taxes		(839,896)	​	(555,594)	​	(669,580)	​	(91,731)
Income tax computed at the tax rate of 25%		(209,974)	​	(138,899)	​	(167,396)	​	(22,931)
Effect of different tax rates in different jurisdictions		(20,584)	​	(5,178)	​	12,338	​	1,690
Non-deductible expenses		21,543	​	18,287	​	14,108	​	1,932
Non-taxable income		(55,705)	​	(6,447)	​	(1,027)	​	(141)
Statutory income (expense)	​	25,419	​	51,631	​	(14,740)	​	(2,019)
Interest and penalty	​	(7,254)	​	(6,121)	​	(2,473)	​	(339)
Deferred tax expense	​	7,056	​	3,357	​	11,929	​	1,634
Changes of valuation allowance		168,102	​	58,030	​	128,716	​	17,634
Withholding tax		491	​	767	​	1,040	​	142
​		(70,906)	​	(24,573)	​	(17,505)	​	(2,398)

Schedule of components of deferred taxes

​

​	​	​	​	​	​	​
​	​	As at December 31,
​	​	2023	​	2024	​	2024
​		RMB		RMB		US$
Deferred tax asset				​
Net operating loss*		425,390	​	540,787	​	74,088
Foreign exchange loss	​	2,755	​	2,140	​	293
Depreciation and amortization		17,647	​	16,212	​	2,221
Property, plant and equipment impairment		2,340	​	1,914	​	262
Deposits for non-current assets		17,725	​	17,725	​	2,428
Allowance for doubtful accounts		29,299	​	51,153	​	7,008
Lease liabilities		59,875	​	45,536	​	6,238
Other long-term assets		94,791	​	94,563	​	12,955
Equity investment		7,005	​	7,105	​	973
Others		11,770	​	10,506	​	1,439
Total deferred tax assets		668,597	​	787,641	​	107,905
less: Valuation allowance**		(623,044)	​	(751,370)	​	(102,937)
Net deferred tax assets		45,553	​	36,271	​	4,968
​	​	​	​	​	​	​
Deferred tax liabilities		​		​		​
Equity investment		(1,091)	​	(999)	​	(137)
Property, plant and equipment		(2,368)	​	(16,110)	​	(2,207)
Disposal of Beijing Century Friendship		(3,126)	​	(3,126)	​	(428)
Intangible assets		(71,825)	​	(65,998)	​	(9,041)
Right-of-use assets		(45,626)	​	(32,497)	​	(4,452)
Capitalized interest		(18,993)	​	—	​	—
Others		(2,062)	​	(411)	​	(56)
​	​	​	​	​	​	​
Total deferred tax liabilities		(145,091)	​	(119,141)	​	(16,321)
​	​	​	​	​	​	​
Deferred tax assets, net		—	​	—	​	—
​	​	​	​	​	​	​
Deferred tax liabilities, net		(99,538)	​	(82,870)	​	(11,353)

*     As of December 31, 2024, the Group had net operating losses from several of its PRC and oversea entities of RMB2,164,982 (US$296,601), which can be carried forward to offset future taxable profit. As per filed tax returns, the net operating loss from PRC entities will expire between 2025 to 2029. For the net operating loss from overseas entities, there is no limitation of expiration according to the statute of Hong Kong and US.

**   The Group records a valuation allowance on its deferred tax assets that is sufficient to reduce the deferred tax assets to an amount that is more likely than not to be realized. Future reversal of the valuation allowance will be recognized either when the benefit is realized or when it has been determined that it is more likely than not that the benefit in future earnings will be realized.

Schedule of movement of valuation allowance

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2023	​	2024	​	2024
​		RMB		RMB		US$
Balance at the beginning of year		(565,022)		(623,044)		(85,357)
Change of valuation allowance in the current year		(58,022)		(128,326)		(17,580)
Balance at the end of year		(623,044)		(751,370)		(102,937)

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits excluding the penalty and interest

​

​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2023	​	2024	​	2024
​		RMB		RMB		US$
Balance at the beginning of year		67,172		63,899		8,754
Changes based on tax positions related to the current year		—		—		—
Additions related to prior year tax position		12,084		5,469		749
Decreases related to prior year tax position		(14,104)		(610)		(84)
Decrease related to disposal of CMSI		(7,861)		(1,011)		(139)
Decreases relating to expiration of applicable statute of limitation		(1,997)		(680)		(93)
Foreign currency translation		8,605		732		100
Balance at the end of year	​	63,899	​	67,799	​	9,287

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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.

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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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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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