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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 (¥)
Operating activities:        
Net loss ¥ (91,279) $ (12,856) ¥ (806,883) ¥ (6,429,059)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 155,001 21,831 204,207 213,082
Foreign exchange (gain)/loss 1,963 276 (36,937) (7,689)
Share-based compensation 136,646 19,246 235,876 315,362
Loss on disposal of property and equipment 40,862 5,755 67,056 35,483
Changes in fair value of warrant liabilities 0 0 0 44,457
Allowance for credit losses 3,980 561 26,228 0
Other non-cash charges 0 0 5,838 0
Changes in operating assets and liabilities:        
Accounts receivable 36,216 5,101 26,753 (152,714)
Inventories 133,012 18,734 (67,412) (151,041)
Advance to suppliers 10,103 1,423 2,876 (49,578)
Prepayments and other current assets (26,611) (3,748) 292,312 (363,965)
Operating lease right-of-use assets 139,909 19,706 820,454 (742,349)
Other non-current assets 32,984 4,646 78,870 (49,175)
Accounts payable (464,506) (65,424) (171,935) 478,676
Salary and welfare payable (96,031) (13,526) 84,364 107,780
Advances from customers and deferred revenue (12,730) (1,793) 9,530 103,076
Accrued expenses and other current liabilities (135,403) (19,071) 152,636 164,625
Operating lease liabilities (149,928) (21,117) (842,094) 747,118
Other non-current liabilities 51,206 7,212 5,627 69,373
Net cash (used in)/generated from operating activities (234,606) (33,044) 87,366 (5,666,538)
Investing activities:        
Purchases of property and equipment (83,326) (11,736) (126,887) (451,608)
Proceeds from disposal of property and equipment 26,241 3,696 5,785 547
Purchases of short-term investments (8,167,389) (1,150,353) (6,469,060) (9,078,466)
Maturities of short-term investments 8,734,823 1,230,274 6,574,015 5,454,087
Purchases of debt and equity investments 0 0 (30,980) 0
Proceeds from redemption of debt and equity investments 8,980 1,265 0 0
Loans to related parties 0 0 0 (2,500)
Repayment of loans from related parties 0 0 0 12,600
Net cash (used in)/generated from investing activities 519,329 73,146 (47,127) (4,065,340)
Financing activities:        
Proceeds from short-term borrowings 11,886,559 1,674,186 13,782,873 9,558,649
Repayment of short-term borrowings (12,824,324) (1,806,268) (12,665,941) (7,672,124)
Repayment of long-term borrowings 0 0 (57,875) (87,000)
Issuance of redeemable convertible preferred shares, net of issuance costs 0 0 0 6,646,458
Issuance of redeemable noncontrolling interests 0 0 70,000 30,000
Proceeds from initial public offering, net of issuance costs 0   0 589,959
Repurchase of ordinary shares 0 0 (17,742) (2,912)
Repayment of advance from shareholders 0 0 0 (20,390)
Proceeds from exercise of share-based awards 3,341 471 1,068 0
Net cash generated from/(used in) financing activities (934,424) (131,611) 1,112,383 9,042,640
Effect of exchange rate changes on cash and cash equivalents and restricted cash 456 65 35,896 (90,778)
Net (decrease)/increase in cash and cash equivalents (649,245) (91,444) 1,188,518 (780,016)
Cash and cash equivalents and restricted cash at the beginning of the year 1,858,950 261,828 670,432 1,450,448
Cash and cash equivalents and restricted cash at the end of the year 1,209,705 170,384 1,858,950 670,432
Supplemental disclosure of cash flow information:        
Interest paid 103,848 14,627 133,731 77,100
Non-cash investing and financing activities:        
Purchase of property and equipment included in accrued expenses and other liabilities 31,975 4,503 9,196 12,341
Issuance of Series B4 redeemable convertible preferred shares upon exercise of warrants 0 0 0 359,832
Issuance of Series C1 redeemable convertible preferred shares upon the extinguishment of advance from shareholders 0 0 0 158,506
Reconciliation of cash and cash equivalents and restricted cash:        
Cash and cash equivalents 1,209,225 170,316 1,856,187 662,768
Restricted cash 480 $ 68 2,763 7,664
Cash and cash equivalents and restricted cash at the end of the year ¥ 1,209,705   ¥ 1,858,950 ¥ 670,432