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SHARE-BASED PAYMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Schedule of expense arising from share-based payments
                 
   Year Ended December 31, 
   2022   2023   2024   2024 
   CNY   CNY   CNY   US$ 
                 
Issuance expense related to agent warrants   —    —    —    — 
Consultants share option expense (Note 5)   16,152    —    —    — 
Consultants share-based payment expense (Note 5)   —    3,074    483    66 
                     
Total   16,152    3,074    483    66 
Schedule of agent warrants
         
   Number of shares   Exercise price per share 
         US$ 
           
Outstanding at January, 2022   396,000    2.35 
Outstanding as of December 31, 2022   396,000    0.623*
Effect of Five-to-One Share Combination (Note 19)   (316,800)   — 
Outstanding as of December 31, 2023   79,200    3.115**
Expired   (79,200)   — 
Issued during the year   74,394   2.20 
Outstanding as of December 31, 2024   74,394    — 

 

The remaining contractual life for the agent warrants as of December 31, 2024 and 2023, were 2.63 years and 0.06 years, respectively.

 

*   The exercise price was revised to $0.623 per share in July, 2022.

 

**   The exercise price was revised to $3.115 per share in March, 2023.
Schedule of share options
         
   Number of shares   Exercise price per share 
         US$ 
           
Outstanding as of December 31, 2022*   8,100,000    0.623 
Granted during the year   —    — 
Effect of Five-to-One Share Combination (Note 19)   (6,480,000)   — 
Outstanding as of December 31, 2023   1,620,000    3.115 
Granted during the year   —    — 
Outstanding as of December 31, 2024   1,620,000    3.115 

 

*   The share option numbers above are before giving effect to the Share Combination which became effective on April 3, 2023. Refer to Note 19 for further details.
Schedule of inputs to the models for fair value
            
    Share options    Agent warrants  
     2022    2024  
             
Fair value at the measurement date (US$)    2,400    24,451  
Fair value at the measurement date (CNY)    16,209    178,443  
Expected volatility (%)    93.50    121.79  
Risk-free interest rate (%)    3.16    4.17
Expected life (years)    3    2.63  
Share price (US$)    0.623    0.680