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OTHER RECEIVABLES
 12 Months Ended
Dec. 31, 2022
Other Receivables  
OTHER RECEIVABLES

 

16.OTHER RECEIVABLES

 

             
   December 31, 
   2021   2022   2022 
   CNY   CNY   US$ 
             
Financial assets               
Loans to unrelated companies (i)   83,600    83,600    12,120 
Deposits   863    790    114 
Others   1,000    1,000    145 
Financials asset   85,463    85,390    12,379 
                
Staff advance   697    237    34 
Others   280    90    13 
Total amount   977    327    47 
                
Impairment allowance   (239)   (2,984)   (433)
                
Total   86,201    82,733    11,993 

 

(i) The balance as of December 31, 2022 consisted of a loan in the amount of CNY80,000 (US$11,599) and the corresponding interest receivable amounted to CNY3,600 (US$521) from Shenzhen Qianhai, a subsidiary of the Company, to an unrelated company, Shenzhen Chaopeng Investment Co., Ltd. The loan was originally provided on June 30, 2021, and will mature in one year. On June 30, 2022, the loan was extended for another year to June 30, 2023. The loan is interest-bearing at a rate of 9% per annum and guaranteed by Shenzhen Feishang Investment Co., Limited, a company unrelated to the Group.

 

 

The movements in the loss allowance for other receivables during the years indicated are as follows:

             
   December 31, 
   2021   2022   2022 
   CNY   CNY   US$ 
             
Beginning of the year   —      239    36 
Provision for expected credit losses, net   239    2,745    397 
                
End of the year   239    2,984    433 

 

For the financial assets included above, an impairment analysis is performed at each reporting date using the probability-of-default approach to measure ECL. The probability of default rates are estimated based on comparable companies with published credit ratings. The calculation reflects the probability weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions, and forward-looking credit risk information. As of December 31, 2022, the probability of default applied was 5.51% (0.45% as of December 31, 2021), and the loss given default was 62.26% (61.6% as of December 31, 2021).