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PREPAYMENTS AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2025

PREPAYMENTS AND OTHER CURRENT ASSETS

8.PREPAYMENTS AND OTHER CURRENT ASSETS

Prepayments and other current assets consist of the following:


				As at December 31,
		Notes		2024		2025		2025
				RMB		RMB		US$
Due from suppliers		i)		54,029		180,555		25,819
Loan receivables		ii)		384,832		305,545		43,692
Advances to employees				1,698		1,554		222
Deductible value-added tax				69,930		76,979		11,008
Tax refund				248		237		34
Due from hospital				965		679		97
Deferred expenses				—		50		7
Others		iii)		190,724		149,723		21,410
				702,426		715,322		102,289

Allowance for credit losses				(174,666)		(162,132)		(23,184)

				527,760		553,190		79,105

The Group records allowance for doubtful debts in “general and administrative expenses” in the consolidated statements of comprehensive loss.

Amounts due from suppliers represented prepayments made for orders and returnable deposits of cancelled orders. The risk of loss arising from non-performance by or bankruptcy of suppliers is assessed prior to the order of the equipment. The Group has provided reserve for bad debt amounting to RMB nil and nil on the amounts due from suppliers as at December 31, 2024 and 2025, respectively.

ii)

The receivables represented the loans to other parties, including loans to related parties such as the Guangdong Proton International Hospital Management Co., Ltd, and Beijing Allcure Medical Information Technology Co., Ltd. (“Allcure Information”) of total amount of RMB195,225 and RMB202,383 (US$28,940) as at December 31, 2024 and 2025, and third parties of RMB189,607 and RMB103,162 (US$14,752) as at December 31, 2024 and 2025, respectively. The Group recorded allowance for doubtful debts amounting to RMB75,972 and RMB92,485 (US$13,225) as at December 31, 2024 and 2025, respectively. Besides the credit losses provided to the balances to related parties, the Group recorded allowance for credit losses amounting to RMB88,210 and RMB63,829 (US$9,127) as of December 31, 2024 and 2025, respectively to balances to third parties.

iii)

During the year ended December 31, 2024, a subsidiary of the Company sought to secure third-party financing. Given the substantial scale of the investment, the investor necessitated additional time to finalize specific procedural requirements. In an effort to accelerate the financing process, the Company provided an advance security deposit amounting to RMB124,000.

Subsequently, for liquidity management purposes, the Company temporarily withdrew this deposit, resulting in the full collection of the RMB124,000 (US$17,732) as of December 31, 2025.

Under the Hong Kong Listing Rules, the transaction was classified and disclosed as a related party transaction in the annual report of Concord Healthcare (stock code: HK.2453) as the investor holds a 10% equity interest in a subsidiary of the Group.

However, pursuant to U.S. GAAP (ASC 850), the definition of a related party hinges on control, joint control, or significant influence over the reporting entity. As the investor holds neither such control nor significant influence over the Group, the transaction was not classified as a related-party transaction in the Group’s consolidated financial statements.

In February 2025, the Group entered into an agreement to dispose of a 10% equity interest in its consolidated subsidiary, Guangzhou Concord Cancer Hospital, to Shanghai Jiazhongxin Management Consulting Partnership (Limited Partnership), an independent third party, for a total consideration of RMB46,000 (US$6,578). As of December 31, 2025, the total consideration of RMB46,000 (US$6,578) had not yet been received.

In June 2025, the Group entered into an equity transfer agreement to dispose of its entire paid-in capital contribution in Shanghai Xinhe Enterprise Management Center (Limited Partnership) to Hainan Qifu Medical Technology Co., Ltd., an independent third party, for a total consideration of RMB 60,000 (US$8,580). The disposal was completed during the year, resulting in the derecognition of the investment. As of December 31, 2025, the total consideration had not yet been received.

In prior years, the Company made advances totaling RMB594 (US$85) on behalf of Allcure Information, a related party, primarily for the payment of rental deposits. As of December 31, 2024 and 2025, the allowance for credit losses provided against this related party advance was RMB 594.