Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
26. Parent company only condensed financial information The condensed financial information of the Company has been prepared in accordance with SEC Regulation S-X Rule 5-04 and Rule 12-04, using the same accounting policies as set out in the Group’s consolidated financial statements, except that the Company uses the equity method to account for investments in its subsidiaries and VIE. The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general- purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company. The Company did not have significant capital and other commitments or guarantees as of December 31, 2022. The subsidiaries did not pay any dividend to the Company for the years presented. The Condensed Financial Information of the Parent Company for the year ended December 31, 2020 has been revised to correct an immaterial error related to presentation of cash flows of amount due from subsidiary. Such cash flow was previously presented in error as cash flows from operating activities of the Parent Company and has been revised to cash flows from investing activities of the Parent Company. The impact of the above presentation error was not material to the previously issued financial statements taken as a whole.
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As of December 31, |
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2021 |
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2022 |
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RMB |
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RMB |
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USD$ Note 2(f) |
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Cash and cash equivalent |
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16,291 |
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5,613 |
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|
814 |
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Amount due from related parties |
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106 |
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149 |
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22 |
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Prepaid expense and other receivables |
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291,666 |
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316,172 |
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45,839 |
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Long-term investments |
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76,030 |
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44,307 |
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6,424 |
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384,093 |
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366,241 |
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53,099 |
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Liabilities and Shareholders’ equity |
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Other payables and accrued expenses |
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17,892 |
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17,892 |
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2,594 |
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Contract liabilities |
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4,555 |
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3,332 |
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483 |
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Payroll and welfare payable |
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1,582 |
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4,138 |
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600 |
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24,029 |
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25,362 |
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3,677 |
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Class A common shares (US$0.00001 par value; 7,000,000,000 shares authorized as of December 31, 2021 and 2022, respectively; 894,456,046 shares issued as of December 31, 2021 and 2022, respectively; 886,166,726 shares and 873,068,986 shares outstanding as of December 31, 2021 and 2022, respectively) |
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62 |
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62 |
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9 |
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Class B common shares (US$0.00001 par value; 800,000,000 shares authorized as of December 31, 2021 and 2022, respectively; 150,591,207 shares issued and outstanding as of December 31, 2021 and 2022, respectively) |
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10 |
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10 |
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1 |
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Treasury stock (3,436,860 shares and 16,534,600 shares as of December 31, 2021 and December 31, 2022, respectively) |
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(9,545 |
) |
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(15,306 |
) |
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(2,219 |
) |
Additional paid-in capital |
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896,772 |
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904,935 |
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131,203 |
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Accumulated other comprehensive loss |
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(27,295 |
) |
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(17,695 |
) |
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(2,566 |
) |
Accumulated deficit |
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(499,940 |
) |
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(531,127 |
) |
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(77,006 |
) |
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Total shareholders’ equity |
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360,064 |
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340,879 |
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49,422 |
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Total liabilities and shareholders’ equity |
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384,093 |
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366,241 |
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53,099 |
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| Statement of Comprehensive Income/(Loss)
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Year Ended December 31, |
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2020 |
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2021 |
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2022 |
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RMB |
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RMB |
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RMB |
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USD$ Note 2(f) |
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Other income |
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228 |
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1,269 |
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1,553 |
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225 |
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228 |
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1,269 |
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1,553 |
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225 |
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Operating cost and expenses |
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General and administrative expenses |
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(4,611 |
) |
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(5,994 |
) |
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(4,614 |
) |
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(670 |
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(4,383 |
) |
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(4,725 |
) |
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(3,061 |
) |
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(445 |
) |
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Interest income |
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11 |
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4 |
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— |
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— |
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Unrealized exchange income |
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421 |
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— |
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— |
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— |
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Profit/(loss) before income tax, and share of loss of subsidiaries and VIEs |
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(3,951 |
) |
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(4,721 |
) |
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(3,061 |
) |
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(445 |
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Share of income/(loss) of subsidiaries and VIEs |
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(14,341 |
) |
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(102,945 |
) |
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(28,126 |
) |
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(4,078 |
) |
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(18,292 |
) |
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(107,666 |
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(31,187 |
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(4,523 |
) |
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Redeemable preferred shares redemption value accretion |
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(4,274 |
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— |
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— |
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— |
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Allocation to redeemable preferred shares |
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1,074 |
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— |
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— |
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— |
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Net profit/(loss) attributable to common shareholders |
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(21,492 |
) |
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(107,666 |
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(31,187 |
) |
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(4,523 |
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(18,292 |
) |
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(107,666 |
) |
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(31,187 |
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(4,523 |
) |
Foreign currency translation adjustment, net of tax |
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(22,386 |
) |
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(5,323 |
) |
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9,600 |
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1,392 |
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Total comprehensive income/(loss) |
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(40,678 |
) |
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(112,989 |
) |
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(21,587 |
) |
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(3,131 |
) |
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Year Ended December 31, |
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2020 |
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2021 |
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2022 |
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RMB |
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RMB |
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RMB |
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USD$ |
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Cash flows from operating activities: |
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Net profit/(loss) |
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(18,292 |
) |
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(107,666 |
) |
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(31,187 |
) |
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(4,523 |
) |
Adjustments to reconcile net profit/(loss) to net cash used in operating activities: |
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Unrealized exchange (income)/loss |
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(421 |
) |
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— |
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— |
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— |
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Share of income/(loss) of subsidiaries and VIEs |
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14,341 |
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102,945 |
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28,126 |
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4,078 |
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Interest income |
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(11 |
) |
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— |
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— |
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— |
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(4,383 |
) |
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(4,721 |
) |
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(3,061 |
) |
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(445 |
) |
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Changes in operating assets and liabilities: |
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Increase/(decrease) in other payables and accrued expenses |
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(1,340 |
) |
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(4,730 |
) |
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— |
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— |
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Increase/(decrease) in contract liabilities |
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— |
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4,555 |
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(1,223 |
) |
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(177 |
) |
(Increase)/decrease in prepaid expense and other receivables |
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— |
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21 |
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22,800 |
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3,306 |
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(Increase)/decrease in accounts receivable and contract assets |
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(216 |
) |
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216 |
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— |
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— |
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(Increase)/decrease in amount due from related parties |
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(189 |
) |
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83 |
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(43 |
) |
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(6 |
) |
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Net cash provided by/(used in) operating activities |
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(6,128 |
) |
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(4,576 |
) |
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18,473 |
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2,678 |
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Cash flows from investing activities: |
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Investments in subsidiaries and consolidated VIEs |
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(245 |
) |
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(247 |
) |
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— |
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— |
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Payments of inter-company balances |
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(139,123 |
) |
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(161,216 |
) |
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(23,376 |
) |
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(3,389 |
) |
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Net cash provided by/(used in) investing activities |
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(139,368 |
) |
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(161,463 |
) |
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(23,376 |
) |
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(3,389 |
) |
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Cash flows from financing activities: |
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Proceeds from initial public offering, net of issuance costs |
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340,479 |
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— |
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— |
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— |
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Proceeds from exercise of options |
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503 |
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|
497 |
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— |
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— |
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Repurchase of Class A common shares |
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(2,063 |
) |
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(3,003 |
) |
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(6,659 |
) |
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(965 |
) |
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Net cash provided by/(used in) financing activities |
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338,919 |
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(2,506 |
) |
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(6,659 |
) |
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(965 |
) |
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Effect of exchange rate changes on cash and cash equivalents |
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(6,268 |
) |
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(2,381 |
) |
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|
884 |
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|
128 |
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Net increase/(decrease) in cash and cash equivalents and restricted cash |
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187,155 |
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(170,926 |
) |
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(10,678 |
) |
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|
(1,548 |
) |
Total cash and cash equivalents and restricted cash at beginning of year |
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|
62 |
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|
187,217 |
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16,291 |
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2,362 |
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Total cash and cash equivalents and restricted cash at end of year |
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187,217 |
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|
16,291 |
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5,613 |
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|
814 |
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