Prepaid Expenses and Other Current Assets (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure Text Block Supplement [Abstract]

Schdule of prepaid expenses and other current assets

	As of December 31,		As of June 30,
	2021		2022		2022
	RMB		RMB		USD
VAT recoverable		12,454		10,547		1,575
Prepaid expense		8,553		8,796		1,313
Prepayment for property and equipment		19,000		19,000		2,837
Investment disposal receivable (1)		30,000		30,000		4,479
Advance to Weiliantong (2)		86,858		-		-
Loan receivable (3)		8,000		15,000		2,239
Other receivables		544		1,227		183
Prepaid expenses and other current assets, net		165,409		84,570		12,626

(1) The Company invested RMB 30,000 in Tianjing Yieryi Technology Co., Ltd (“TJ YEY”) for its 12% equity interest on August 17, 2021. As part of the Framework Agreement signed on December 29, 2021 (Note 17), one of the shareholders of Yieryi bought such equity interest back from the Company for RMB 30,000.

(2) As of December 31, 2021, the balance represented advance of RMB 86,858 to Beijing Weiliantong Technology Co., Ltd. (“Weiliantong”) related to the acquisition (Note 17), which was offset against acquisition consideration as of June 30, 2022.

(3) On October 20, 2021, the Company lent RMB80,000 to Jiada Hexin (Beijing) Technology Co., Ltd for working capital purpose. The loan was from October 20, 2021 to December 31, 2022 with annual interest rate of 2.4% from October 20, 2021 to December 31, 2021 and annual interest rate of 6.0% from January 1, 2022 to December 31, 2022.   On April 11, 2022, the Company lent RMB7,000 to Jiada Hexin (Beijing) Technology Co., Ltd for working capital purpose. The loan was from April 11, 2022 to December 31, 2023 with annual interest rate of 2.4% from April 11, 2022 to December 31, 2022 and annual interest rate of 6.0% from January 1, 2023 to December 31, 2023.