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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
CNY (¥)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
CNY (¥)
Dec. 31, 2019
CNY (¥)
Cash flows from operating activities        
Net income ¥ 170,012 $ 26,679 ¥ 176,100 ¥ 149,918
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property and equipment 745 117 555 655
Amortization of intangible assets 4,090 642 1,749 26
Provision (recovery) for doubtful accounts (1,592) (250) (8,253) 854
Loss from disposal of property and equipment 2
Deferred tax expenses (benefit) 319 50 1,945 (191)
Change in fair value of contingent consideration 33,584 5,270 14,068
Change in fair value of warrant liabilities (16,421) (2,577) (3,904)
Change in fair value of investment (22,833) (3,583)
Share Based Compensation 31,857 4,999
Changes in operating assets and liabilities        
Accounts receivable 23,499 3,688 (70,513) 100,432
Prepaid expense and other current assets (151,657) (23,798) 5,193 18,553
Long term deposits and other assets 230 36 1,379 (258)
Accounts payable 18,712 2,936 28,396 (54,533)
Deferred revenue 15,838 2,485 1,404 1,886
Accrued salary and employee benefits 6,392 1,003 8,028 4,603
Accrued expenses and other current liabilities 3,825 600 (852) 6,520
Income tax payable (299) (47) 146 419
Net cash provided by operating activities 116,301 18,250 155,441 228,886
Cash flows from investing activities        
Cash acquired from acquisition 10,152
Payment to BeeLive acquisition (50,000)
Payment for long term investment (113,735) (17,848) (5,000)
Purchase of property and equipment and intangible assets (1,389) (218) (1,086) (457)
Net cash used in investing activities (115,124) (18,066) (40,934) (5,457)
Cash flows from financing activities        
Dividend distributions to shareholders (104,590)
Net proceeds from private placement 15,284 2,398
Net cash acquired in the reverse recapitalization 32,659
Capital distribution due to reorganization (32,328)
Repayments to loan (57,400)
Repayments from related parties 22,340 31,000
Loan to related parties (14,007) (44,147)
Payment of listing cost (6,924) (1,307)
Net cash used in financing activities 15,284 2,398 (23,332) (151,372)
Effect of foreign exchange rate changes on cash (282) (43) (3,758)
Net increase in cash and cash equivalents 16,179 2,539 87,417 72,057
Cash and cash equivalents at beginning of the year 224,768 35,271 137,351 65,294
Cash and cash equivalents at end of the year 240,947 37,810 224,768 137,351
Supplemental disclosures of cash flow information:        
Income taxes paid (9,502) (1,491) (6,946) (6,977)
Supplemental non-cash investing and financing information:        
Conversion of convertible notes and rights 13,452 2,111 4,038
Recognition of contingent consideration 306,583
Issuance of Class A ordinary shares for BeeLive acquisition 175,000
Issuance of Class A ordinary shares for settlement of underwriting fee 14,131
Issuance of Class A ordinary shares to underwriter and advisors 18,713
Issuance of Class A ordinary shares for achievement of earnout target 200,100 31,400
Shares to be issued for achievement of earnout target ¥ 128,119 $ 20,105 ¥ 200,100