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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities        
Net income ¥ 195,225 $ 28,306 ¥ 170,012 ¥ 176,100
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property and equipment 1,149 167 745 555
Amortization of intangible assets 7,038 1,020 4,090 1,749
Provision (recovery) for doubtful accounts 2,739 397 (1,592) (8,253)
Deferred tax expenses (benefit) (1,402) (203) 319 1,945
Change in fair value of contingent consideration (13,071) (1,895) 33,584 14,068
Change in fair value of warrant liabilities (10,776) (1,562) (16,421) (3,904)
Change in fair value of investment (1,760) (255) (25,831)
Investments loss (income) (25,449) (3,690) 2,998  
Share based compensation 11,954 1,733 31,857
Amortization of the Right-of-use assets 6,265 908    
Changes in operating assets and liabilities        
Accounts receivable (112,058) (16,247) 23,499 (70,513)
Prepaid expense and other current assets 64,180 9,305 (151,657) 5,193
Long term deposits and other assets 335 49 230 1,379
Accounts payable 25,503 3,698 18,712 28,396
Deferred revenue 22,397 3,247 15,838 1,404
Accrued salary and employee benefits (14,109) (2,046) 6,392 8,028
Accrued expenses and other current liabilities (100,331) (14,547) 3,825 (852)
Lease liabilities (5,527) (801)
Income tax payable 5,249 761 (299) 146
Net cash provided by operating activities 57,551 8,345 116,301 155,441
Cash flows from investing activities        
Cash acquired from acquisition 9,707 1,407   10,152
Payment to acquisition (13,800) (2,001)   (50,000)
Payment for long term investment (107,000) (15,514) (113,735)  
Purchase of property and equipment and intangible assets (2,153) (312) (1,389) (1,086)
Net cash used in investing activities (113,246) (16,420) (115,124) (40,934)
Cash flows from financing activities        
Net proceeds from private placement     15,284
Net cash acquired in the reverse recapitalization   32,659
Repayments to loan   (57,400)
Proceeds from bank loan 5,000 725    
Repayments from related parties   22,340
Loan to related parties   (14,007)
Share repurchase (16,482) (2,390)    
Payment of listing cost   (6,924)
Net cash (used in) provided by financing activities (11,482) (1,665) 15,284 (23,332)
Effect of foreign exchange rate changes on cash 1,522 221 (282) (3,758)
Net (decrease) increase in cash and cash equivalents (65,655) (9,519) 16,179 87,417
Cash and cash equivalents at beginning of the year 240,947 34,934 224,768 137,351
Cash and cash equivalents at end of the year 175,292 25,415 240,947 224,768
Supplemental disclosures of cash flow information:        
Income taxes paid 9,076 1,316 (9,502) (6,946)
Supplemental non-cash investing and financing information:        
Conversion of convertible notes and rights     13,452 4,038
Recognition of contingent consideration 19,875 2,882   306,583
Issuance of Class A ordinary shares for acquisition 127,466 18,481   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 117,264 17,002 200,100
Issuance of Class B ordinary shares for achievement of earnout target 10,855 1,574    
Shares to be issued for achievement of earnout target 13,106 1,900 ¥ 128,119 ¥ 200,100
Shares to be issued for Weiliantong Acquisition 20,817 3,018    
Right-of-assets obtained in exchange for operating lease obligations ¥ 25,474 $ 3,693