Condensed Financial Information of The Parent Company (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Schedule of balance sheets

	As of December 31,
	2019		2020			2020
	RMB		RMB			USD
ASSETS
Current assets
Cash and cash equivalents		35		183			28
Prepaid expenses and other current assets		-		392			60
Amounts due from subsidiaries		-		236,403			36,231
Total current assets		35		236,978			36,319
Non-current assets
Investments in subsidiaries and consolidated VIE		174,525		359,394			55,081
TOTAL ASSETS		174,560		596,372			91,400
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Amounts due to subsidiaries		34		-			-
Warrant liabilities		-		29,558			4,530
Current portion of contingent consideration – earn-out liability		-		92,183			14,128
Total current liabilities		34		121,741			18,658
Non-current liabilities
Contingent consideration – earn-out liability		-		15,116			2,317
Total liabilities		34		136,857			20,975
Shareholders’ equity
Ordinary share, no par value, unlimited shares authorized, 19,400,000 and 27,037,302 shares issued and outstanding as of December 31, 2019 and 2020, respectively		9,664		(96,349	)		(14,766	)
Shares to be issued		-		200,100			30,667
Statutory reserves		12,059		18,352			2,813
Retained earnings		152,803		322,610			49,442
Accumulated other comprehensive income		-		14,802			2,269
Total shareholder’s equity		174,526		459,515			70,425
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		174,560		596,372			91,400

Schedule of statements of comprehensive loss

	For the years ended December 31,
	2018		2019		2020			2020
	RMB		RMB		RMB			USD
Equity income of subsidiaries		106,740		149,918		184,869			28,333
General administrative expense and others		-		-		1,395			214
Change in fair value of warrant liabilities		-		-		3,904			597
Change in fair value of contingent consideration		-		-		(14,068	)		(2,156	)
Net income		106,740		149,918		176,100			26,988
Other comprehensive income - foreign currency translation adjustment		-		-		14,802			2,269
Comprehensive income attributable to the Company’s shareholders		106,740		149,918		190,902			29,257

Schedule of statements of cash flows

	For the years ended December 31,
	2018			2019			2020			2020
	RMB			RMB			RMB			USD
Cash flows from operating activities
Net income		106,740			149,918			176,100			26,988
Equity in earning of subsidiaries		(106,740	)		(149,918	)		(184,869	)		(28,332	)
Change in fair value of warrant liabilities		-			-			(3,904	)		(598	)
Change in fair value of contingent consideration		-			-			14,068			2,156
Changes in operating assets and liabilities		-			-			-			-
Prepaid expense and other current assets		-			-			(392	)		(60	)
Net cash provided by operating activities		-			-			1,003			154
Cash flows from investing activities
Proceeds from subsidiaries		238,500			136,953			-			-
Net cash provided by investing activities		238,500			136,953			-			-
Cash flows from financing activities
Dividends distribution to shareholders		(228,500	)		(104,590	)		-			-
Capital distribution due to reorganization		(10,000	)		(32,328	)		-			-
Due to related parties		-			-			(26,590	)		(4,075	)
Net cash acquired in the reverse recapitalization		-			-			32,659			5,005
Payment of listing costs		-			-			(6,924	)		(1,061	)
Net cash used in financing activities		(238,500	)		(136,918	)		(855	)		(131	)
Net increase in cash and cash equivalents		-			35			148			23
Cash and cash equivalents at beginning of the year		-			-			35			5
Cash and cash equivalents at end of the year		-			35			183			28