Accounts Receivable, Net

6 Months Ended

Jun. 30, 2024

Accounts Receivable, Net [Abstract]

ACCOUNTS RECEIVABLE, NET

5. ACCOUNTS RECEIVABLE, NET

Accounts receivable and allowance for credit losses consist of the following:

	As of December 31,			As of June 30,
	2023			2024			2024
	RMB			RMB			US$
Accounts receivable		266,076			253,035			34,818
Less: allowance for credit losses		(5,097	)		(6,223	)		(856	)
Accounts receivable, net		260,979			246,812			33,962

An analysis of the allowance for credit losses is as follows:

	For the year ended December 31,		For the six months ended June 30,
	2023		2024		2024
	RMB		RMB		US$
Beginning balance		3,546		5,097		701
Additions		1,530		1,126		155
Exchange difference		21		-		-
Ending balance		5,097		6,223		856

Three unrelated distributors accounted for 30.3%, 24.8% and 12.1% of the Company’s accounts receivable as of December 31, 2023, respectively. Four unrelated distributors accounted for 37.0%, 23.2%, 12.3%, and 10.0% of the Company’s accounts receivable as of June 30, 2024, respectively.