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Combined and Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
CNY (¥)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (507,944) $ (77,846) ¥ (806,673) ¥ (445,155)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation of property and equipment 76,353 11,702 108,303 79,162
Amortization of intangible assets 11,202 1,717 10,803 1,907
Loss on disposal of property and equipment 138,827 21,276 30,604 7,069
Loss on disposal of intangible assets 608 93 14
Impairment of long-lived assets 36,505 5,595 52,030 111,203
Impairment of long-term investment 10,060 1,542 37,453 18,990
(Gain)/loss on disposal of subsidiaries 39,703 6,085 (644)
Gain on disposal of long-term investments (8,561) (1,312) (2,030)
Amortization of right-of-use assets 159,738 24,481 289,005 288,076
Remeasurement gain of previously held equity interests in connection with step acquisitions (386) (27,543)
Change in fair value of liabilities to be settled in shares 179,475 (25,607)
Share-based compensation 202,333 31,009
Bad debt expense 19,439 2,979 4,950 7,352
Loss from equity method investment 639 98 1,548 948
Deferred income tax benefit (884) (135) (884) (47)
Changes in operating assets and liabilities:        
Accounts receivable (47,483) (7,277) (19,821) 543
Prepaid expenses and other current assets 8,060 1,235 (6,570) 11,097
Other non current assets 5,741 880 5,308
Amount due from related parties 28,693 4,397 (27,814) 21,956
Long-term prepaid expenses 3,092 474 (1,274) 1,413
Rental deposit, non-current 35,784 5,484 (6,900) (21,813)
Accounts payable 40,593 6,221 46,401 8,845
Note payable 12,105 1,855
Accrued expenses and other current liabilities (20,984) (3,215) 43,549 48,239
Advanced workspace membership fee (44,769) (6,861) 12,393 8,869
Contract liabilities (9,041) (1,386) 8,569 14,905
Income tax payable 1,041 160 (5,422) (2,571)
Deferred subsidy income (2,412) (370) (6,383) (1,179)
Amount due to related parties 8,549 1,310 37,108 6,179
Lease liabilities (229,570) (35,183) (217,505) (167,324)
Change in held for sale assets (3,258) (499) (10,181)
Change in held for sale liabilities 6,068 930 18,862
Refundable deposits from members, non-current 2,129 326 81 5,089
Net cash used in operating activities (27,644) (4,235) (223,357) (52,071)
Cash Flows from investing activities        
Purchase of term deposits (40,960) (6,277) (41,712) (17,000)
Settlement of term deposits 26,715 4,094 24,000
Purchase of short-term investments (24,980) (3,828) (321,940) (32,200)
Settlement of short-term investments 57,010 8,737 317,200 206,400
Purchase of property and equipment (95,433) (14,626) (173,571) (135,239)
Proceeds from disposal of property and equipment 55 8 1,089 642
Purchase of intangible asset (125) (19) (4,345) (607)
Loan provided to related parties (8,020)
Loan provided to third parties (17,000) (2,605) (70,000)
Loan collected from related parties 2,200
Loan collected from third parties 190,000
Payment for long-term investment (1,978) (6,250)
Proceeds from disposal of long-term investments 9,940 1,523 3,000
Cash deduction due to disposal of a subsidiary (4,480) (687) (324)
Cash received for business acquisitions, net of cash paid 16,481 29,913
Proceeds from disposal of subsidiaries 50,000 7,663
Net cash (used in)/provided by investing activities (39,258) (6,017) 7,424 (29,685)
Cash flows from financing activities        
Capital contribution from shareholders 4,499
Capital contribution from noncontrolling shareholders 4,110 10,174
Subscription received to be settled in shares 126,545
Cash paid for listing fee (6,299)
Acquisition of noncontrolling interests (2,720)
Loan repaid to related parties (23,800) (3,648) (6,906) (11,316)
Loan received from related parties 34,550 5,295
Loan received from third parties 97,017 14,869 120,165 59,960
Loan repaid to third parties (160,188) (24,550) (73,733)
Reverse recapitalization 35,881 5,499
Equity financing through PIPE, net 371,366 56,914
Repayment for convertible bond (65,250) (10,000)
Cash received from issuing convertible bond 69,762
Net cash provided by financing activities 289,576 44,379 104,379 189,862
Effects of exchange rate changes (18,185) (2,787) (51) 57
Net increase/(decrease) in cash, cash equivalents and restricted cash 204,489 31,340 (111,605) 108,163
Cash, cash equivalents and restricted cash – beginning of the period 196,301 30,084 307,906 199,743
Cash, cash equivalents and restricted cash – end of the period 400,790 61,424 196,301 307,906
Supplemental disclosure of cash flow information:        
Interest paid 19,626 3,008 7,948 5,253
Income taxes paid 3,366 516 6,801 351
Supplemental disclosure of noncash information:        
Payable for purchase of property and equipment 97,128 14,886 179,914 219,104
Payable for investments and acquisitions 32,688 5,010 41,688 38,350
Noncash subscription received to be settled in shares 1,180,821
Right-of-use assets obtained in exchange for new operating lease liabilities 11,902 1,824 315,027 977,539
ROU assets disposed as reduction of operating lease liabilities due to lease termination 819,879 125,652 83,770
Cash and cash equivalents 348,064   175,774 274,633
Restricted cash, current 52,199 8,000 11,000
Restricted cash, non-current 527 81 20,527 22,273
Total cash, cash equivalents and restricted cash ¥ 400,790 $ 61,424 ¥ 196,301 ¥ 307,906