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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Schedule of condensed balance sheets

Condensed balance sheets

​

​	​	​	​	​	​	​
​	​	As at December 31
​	​	2023	​	2024	​	2024
​		RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalent		17,466	​	409	​	56
Prepayments and other current assets	​	24,999	​	73,592	​	10,082
Total current assets		42,465	​	74,001	​	10,138
Total assets		42,465	​	74,001	​	10,138
​	​	​	​	​	​	​
LIABILITIES AND SHAREHOLDERS’ EQUITY		​		​	​	​
Current liabilities:		​		​	​	​
Short term loan		41,179	​	34,307	​	4,700
Long-term debts due within one year	​	110,574	​	84,482	​	11,574
Accrued expenses and other liabilities		20,483	​	67,300	​	9,220
Derivative liability	​	163	​	—	​	—
Amounts due to subsidiaries		1,992,011	​	2,337,986	​	320,301
Total current liabilities		2,164,410	​	2,524,075	​	345,795
​	​	​	​	​	​	​
Non-current liabilities:	​	​	​	​	​	​
Long-term bank and other borrowings, non-current portion	​	—	​	2,190	​	300
Total liabilities		2,164,410	​	2,526,265	​	346,095
​	​	​	​	​	​	​
Shareholders’ equity (deficit):		​		​	​	​
Class A ordinary shares (par value of US$0.0001per share; authorized shares-500,000,000; issued shares-96,565,584 and 96,565,584 as of December 31, 2023 and 2024; outstanding shares-84,463,737 and 84,463,737 as of December 31, 2023 and 2024, respectively)		68	​	68	​	10
Class B ordinary shares (par value of US$0.0001per share; authorized shares‑45,787,948; issued shares-45,787,948 and 45,787,948 as of December 31, 2023 and 2024; outstanding shares- 45,787,948 and 45,787,948 as of December 31, 2023 and 2024, respectively)		37	​	37	​	5
Treasury stock (12,101,847 and 12,101,847 shares as of December 31, 2023 and 2024, respectively)		(7)	​	(7)	​	(1)
Additional paid-in capital		2,007,965	​	2,169,693	​	297,247
Accumulated other comprehensive loss		(65,419)	​	(77,349)	​	(10,596)
Accumulated deficit		(4,064,589)	​	(4,544,706)	​	(622,622)
Total shareholders’ equity (deficit)		(2,121,945)	​	(2,452,264)	​	(335,957)
Total liabilities and shareholders’ equity (deficit)		42,465	​	74,001	​	10,138

​

Schedule of condensed statements of comprehensive loss

Condensed statements of comprehensive loss

​

​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2022	​	2023	​	2024	​	2024
​		RMB		RMB		RMB		US$
Revenues		—	​	—	​	—	​	—
Cost of revenues		—	​	—	​	—	​	—
General and administrative expenses		5,242	​	(2,414)	​	(2,642)	​	(362)
Selling expenses		(524)	​	—	​	—	​	—
Operating loss		4,718	​	(2,414)	​	(2,642)	​	(362)
Equity in loss of subsidiaries		(605,175)	​	(314,122)	​	(422,351)	​	(57,860)
Interest income		—	​	14	​	438	​	60
Interest expense		(10,394)	​	(9,926)	​	(47,314)	​	(6,482)
Changes in fair value of derivatives		1,055	​	5,282	​	168	​	23
Other income, net	​	96,609	​	(1,008)	​	—	​	—
Foreign exchange gain(loss)		23,526	​	24,516	​	(8,416)	​	(1,153)
Net loss		(489,661)	​	(297,658)	​	(480,117)	​	(65,774)
Other comprehensive income (loss)		​	​	​	​	​	​	​
Foreign currency translation, net of tax of nil	​	(53,964)	​	(6,480)	​	(7,630)	​	(1,045)
Unrealized losses on available-for-sale securities, net	​	—	​	(31,173)	​	(4,299)	​	(589)
Total other comprehensive (loss) income		(53,964)	​	(37,653)	​	(11,929)	​	(1,634)
Comprehensive loss		(543,625)	​	(335,311)	​	(492,046)	​	(67,408)

​

Schedule of condensed statements of cash flows

Condensed statements of cash flows

​

​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2022	​	2023	​	2024	​	2024
​		RMB		RMB		RMB		US$
Net cash (used in) generated from operating activities		(2,047)	​	(1,258)	​	641	​	88
Net cash (used in) generated from investing activities		(29,335)	​	15,655	​	19,039	​	2,608
Net cash (used in) generated from financing activities		16,591	​	1,590	​	(37,226)	​	(5,100)
​	​	​	​	​	​	​	​	​
Exchange rate effect on cash		1,243	​	(31)	​	489	​	67
​	​	​	​	​	​	​	​	​
Net (decrease) increase in cash		(13,548)	​	15,956	​	(17,057)	​	(2,337)
Cash at beginning of the year		15,058	​	1,510	​	17,466	​	2,393
​	​	​	​	​	​	​	​	​
Cash at end of the year		1,510	​	17,466	​	409	​	56

​

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- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph a
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph a
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

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Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph a
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

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