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Leases | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
LEASES | 15. LEASES The Company leases buildings, office facilities, land use rights and batteries in PRC. The Company does not have any finance leases for the year ended December 31, 2023, and for the six months ended June 30, 2024, respectively. Operating leases result in the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. ROU assets represent the Company’s right to use the leased asset for the lease term, and lease liabilities represent the obligation to make lease payments. The operating lease expenses were charged to cost of sales, research and development expenses and general and administrative expenses. A summary of supplemental information related to operating leases as of the year ended December 31, 2023 and the six months ended June 30, 2024 was as follows:
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RMB |  |  | RMB |  |  | US$ |
|  |  |  |  | (Unaudited) |
Operating lease right-of-use assets, net |  |  | 21,656 |  |  |  | 18,855 |  |  |  | 2,595 |
Operating lease liabilities, current |  |  | 1,750 |  |  |  | 1,811 |  |  |  | 249 |
Operating lease liabilities, non-current |  |  | 5,980 |  |  |  | 5,054 |  |  |  | 695 |
Weighted average remaining lease terms |  |  | 3.56 years |  |  |  | 4.25 years |  |  |  | 4.25 years |
Weighted average discount rate |  |  | 4.36 | % |  |  | 4.64 | % |  |  | 4.64 | %
Cash flow information related to leases consists of the following:
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | RMB |  |  | RMB |  |  | US$ |
|  |  |  |  | (Unaudited) |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | 4,698 |  |  |  | 304 |  |  |  | 42 |
Future lease payments under operating leases as of June 30, 2024 were as follows:
|  | As of June 30, 2024 |
|  | RMB |
|  | (Unaudited) |
FY2024 |  |  | 1,053 |
FY2025 |  |  | 2,118 |
FY2026 |  |  | 1,870 |
FY2027 |  |  | 1,087 |
FY2028 |  |  | 620 |
FY2029 |  |  | 290 |
FY2030 |  |  | 145 |
Total future lease payment |  |  | 7,183 |
less: imputed interest |  |  | (318 | )
Represent value of future lease payments(1) |  |  | 6,865 |
(1) | Present value of future operating lease payments consisted of current portion of operating lease liabilities and non-current portion of operating lease liabilities, amounting to RMB1,811 (US$249) and RMB5,054 (US$695) as of June 30, 2024.

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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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