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Unaudited Condensed Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
6 Months Ended
Jun. 30, 2024
CNY (¥)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
CNY (¥)
Cash flows from operating activities      
Net income ¥ 36,227 $ 4,984 ¥ 79,339
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property and equipment 571 79 616
Amortization of intangible assets 3,479 479 3,476
Provision for credit losses 1,126 155 2,230
Loss from disposal of property and equipment 1
Deferred tax expense (benefit) 1,448 199 (1,719)
Change in fair value of contingent consideration 1,978
Change in fair value of warrant liabilities (153)
Change in fair value of investment in marketable security (3,764) (518) (65,148)
Investments loss 3,354 462 4,088
Share based compensation 5,629 775 8,613
Amortization of right-of-use assets 3,613 497 3,484
Changes in operating assets and liabilities      
Accounts receivable 13,041 1,795 59,326
Prepaid expense and other current assets 18,813 2,588 19,797
Long term deposits and other assets (5) (1) (2)
Accounts payable (38,152) (5,250) (59,014)
Deferred revenue (12,589) (1,732) (6,999)
Accrued salary and employee benefits (5,369) (739) (3,194)
Accrued expenses and other current liabilities (19,365) (2,665) (8,424)
Income tax payable (3,809) (524) (3,132)
Lease liabilities (3,898) (536) (3,546)
Net cash provided by operating activities 351 48 31,616
Cash flows from investing activities      
Payment for long term investments (16,655) (2,292) (4,500)
Purchase of property and equipment and intangible assets (260) (36) (201)
Net cash used in investing activities (16,915) (2,328) (4,701)
Cash flows from financing activities      
Proceeds from bank loan 5,000
Repayment for bank loan (5,000)
Repayment from related parties 355 49 1,052
Net cash provided by financing activities 355 49 1,052
Effect of foreign exchange rate changes on cash (492) (67) (499)
Net increase (decrease) in cash and cash equivalents (16,701) (2,298) 27,468
Cash and cash equivalents at beginning of the period 205,465 28,273 175,292
Cash and cash equivalents at end of the period 188,764 25,975 202,760
Supplemental disclosures of cash flow information:      
Income taxes paid 10,018 1,378 10,749
Supplemental non-cash investing and financing information:      
Issuance of Class A ordinary shares for achievement of earnout target ¥ 9,960 $ 1,371 ¥ 13,106