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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
CNY (¥)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
CNY (¥)
Dec. 31, 2021
CNY (¥)
Cash flows from operating activities        
Net income (loss) ¥ (34,976) $ (4,926) ¥ 195,225 ¥ 170,012
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property and equipment 1,237 174 1,149 745
Amortization of intangible assets 6,964 981 7,038 4,090
Loss from disposal of property and equipment 5 1
Provision (recovery) for doubtful accounts 17,865 2,516 2,739 (1,592)
Deferred tax expenses (benefit) (4,460) (628) (1,402) 319
Change in fair value of contingent consideration 5,624 792 (13,071) 33,584
Change in fair value of warrant liabilities (170) (24) (10,776) (16,421)
Change in fair value of investment 9,023 1,271 (1,760) (25,831)
Investments (income) loss 31,328 4,412 (25,449) 2,998
Impairment of long-term investments 11,800 1,662
Share based compensation 13,637 1,921 11,954 31,857
Amortization of right-of-use assets-operating lease 7,052 993 6,265
Changes in operating assets and liabilities        
Accounts receivable 54,148 7,627 (112,058) 23,499
Prepaid expense and other current assets 20,284 2,857 64,180 (151,657)
Long term deposits and other assets 227 32 335 230
Accounts payable (43,065) (6,066) 25,503 18,712
Deferred revenue 4,203 592 22,397 15,838
Accrued salary and employee benefits 2,335 329 (14,109) 6,392
Accrued expenses and other current liabilities 7,334 1,033 (100,331) 3,825
Lease liabilities (7,175) (1,011) (5,527)
Income tax payable (526) (74) 5,249 (299)
Net cash provided by operating activities 102,694 14,464 57,551 116,301
Cash flows from investing activities        
Cash acquired from acquisition 212 30 9,707
Payment to acquisition (3,546) (499) (13,800)
Payment for long term investments (63,363) (8,924) (107,000) (113,735)
Purchase of property and equipment and intangible assets (493) (69) (2,153) (1,389)
Net cash used in investing activities (67,190) (9,462) (113,246) (115,124)
Cash flows from financing activities        
Net proceeds from private placement 15,284
Capital contribution by non-controlling shareholders 1,751 247
Proceeds from related parties 760 107
Proceeds from bank loan 5,000 704 5,000
Repayment for bank loan (10,000) (1,408)
Share repurchase (2,734) (385) (16,482)
Net cash provided by (used in) financing activities (5,223) (735) (11,482) 15,284
Effect of foreign exchange rate changes on cash (108) (17) 1,522 (282)
Net increase (decrease) in cash and cash equivalents 30,173 4,250 (65,655) 16,179
Cash and cash equivalents at beginning of the year 175,292 24,689 240,947 224,768
Cash and cash equivalents at end of the year 205,465 28,939 175,292 240,947
Supplemental disclosures of cash flow information:        
Income taxes paid 13,447 1,894 9,076 (9,502)
Supplemental non-cash investing and financing information:        
Conversion of convertible notes and rights 13,452
Recognition of contingent consideration 19,875
Issuance of Class A ordinary shares for acquisition 127,466
Issuance of Class A ordinary shares for achievement of earnout target 13,106 1,846 117,264 200,100
Issuance of Class B ordinary shares for achievement of earnout target 10,855
Shares to be issued for achievement of earnout target 9,960 1,403 13,106 128,119
Shares to be issued for Weiliantong Acquisition 20,817
Right-of-assets obtained in exchange for operating lease obligations 25,474
Non-controlling interests from Acquisition of SJ Verse Global Media LLC ¥ (288) $ (41)