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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Operating activities:        
Net loss ¥ (1,541,209) $ (223,455) ¥ (1,185,432) ¥ (440,004)
Adjustments to reconcile net loss to net cash used in operating activities:        
Allowance for doubtful accounts 6,887 999   360
Provision of prepayments and other current assets (1,935) (281) 3,245  
Write-down of inventories 35,406 5,133 49,485 44,134
Share-based compensation 725,651 105,210 179,933 11,410
Depreciation and amortization 67,655 9,809 65,012 58,958
Reduction of carrying amount of right-of-use assets 38,059 5,518    
Lease expense to reduce right-of-use assets 38,059 5,518    
(Income) loss from equity method investments 137,391 19,920 2,519 (148)
Gains on deconsolidation of a subsidiary (71,974) (10,435) (10,579)  
Gains on sale of an equity security (59,728) (8,660)    
Change in fair value of an equity security 16,843 2,442    
Amortization of debt issuance costs     99,923 55,351
Change in fair value of warrant liabilities 3,245 470 111,299 39,635
Loss on disposal of property, equipment and intangible assets 1,939 281 1,562 577
Unrealized exchange (gains) losses 1,857 269 (12,478) (55,213)
Changes in operating assets and liabilities, net of effects of deconsolidation of subsidiary:        
Accounts receivable - third parties, net (238,197) (34,535) (45,166) 499,485
Accounts receivable - related parties, net 283,389 41,088 (96,169) (1,799)
Notes receivable (7,732) (1,121) (19,406) (3,991)
Inventories 56,358 8,171 (105,557) (9,268)
Amounts due from related parties (86,960) (12,608) (5,737) (2,633)
Prepayments and other current assets (222,715) (32,291) (110,035) 32,261
Accounts payable - third parties 374,227 54,258 18,699 (811,649)
Accounts payable - related parties 128,360 18,610 (218,143) (21,235)
Notes payable 41,101 5,959 (144,529) 111,327
Contract liabilities - third parties 1,774 257 (4,565) (2,391)
Contract liabilities - related parties (237,287) (34,403) 353,659 30,927
Amounts due to related parties 2,058 298 5,334 27,376
Accrued expenses and other current liabilities 160,584 23,282 186,032 69,834
Operating lease liabilities (35,236) (5,109)    
Other non-current liabilities 14,424 2,091 8,769 (1,350)
Net cash used in operating activities (405,765) (58,833) (872,325) (368,046)
Investing activities:        
Purchase of property, equipment and intangible assets (127,777) (18,526) (78,863) (69,114)
Proceeds from disposal of property, equipment and intangible assets 1,732 251    
Cash paid for acquisition of equity investments (79,442) (11,518) (1,345,637)  
Cash received on deconsolidation of a subsidiary 1,000 145    
Financial support to an equity method investee (28,500) (4,132)    
Loans to related parties (57,260) (8,302) (28,850)  
Cash collection of loans to related parties 29,360 4,257    
Advances to a related party     (19,806) (103,024)
Cash collection of advances to a related party     90,155 81,026
Net cash used in investing activities (283,530) (41,108) (1,391,361) (91,112)
Financing activities:        
Cash contributed by redeemable non-controlling shareholders 10,000 1,450 30,000  
Cash contributed by non-redeemable non-controlling shareholders     2,000  
Proceeds from short-term borrowings 1,270,000 184,133 947,000 76,000
Repayment of short-term borrowings (1,332,000) (193,122) (91,000) (167,900)
Proceeds from issuance of convertible notes 527,281 76,449    
Payment for issuance of convertible notes (2,938) (426)    
Borrowings from related parties 900,000 130,488 315,152  
Repayment of borrowings from related parties (1,020,000) (147,886) (65,152)  
Repayment of long-term debt     (1,125,310)  
Cash disposed in the Restructuring (20,000) (2,900)    
Cash proceeds from COVA 43,724 6,339    
Cash proceeds from Geely strategic investment 139,200 20,182    
Cash paid for costs of the Merger (136,985) (19,861)    
Net cash provided by financing activities 537,767 77,969 2,192,792 1,138,126
Effect of foreign currency exchange rate changes on cash and restricted cash 28,906 4,194 (32,019) (10,023)
Net increase (decrease) in cash and restricted cash (122,622) (17,778) (102,913) 668,945
Cash and restricted cash at the beginning of the year 900,963 130,627 1,003,876 334,931
Cash and restricted cash at the end of the year 778,341 112,849 900,963 1,003,876
Supplemental information:        
Income tax paid     1,644 35
Interest paid 32,782 4,753 28,983 2,905
Non-cash investing and financing activities:        
Payable for purchase of property, equipment and intangible assets 24,186 3,507 17,882 4,123
Re-designation of ordinary shares to Series A Preferred Shares     97,660  
Issuance of Series B Convertible Redeemable Preferred Shares in connection with acquisition of an equity-method investment     620,703  
Non-cash assets distributed to shareholders of the Company in the Restructuring 247,875 35,938    
Payable for issuance cost of convertible notes payable 5,621 815    
Amounts due from a related party for sale of Zenseact 763,192 110,652    
Issuance of ordinary shares in exchange for an equity security 87,615 12,703    
Payable for costs of the Merger 133,554 19,364    
Conversion of Convertible Redeemable Preferred Shares to ordinary shares 5,492,749 796,374    
Conversion of convertible notes payable to Class A Ordinary Shares 69,600 10,091    
Hubei Dongjun Automotive Electronics Technology Co., Ltd.        
Investing activities:        
Cash disposed on deconsolidation of a subsidiary     (8,360)  
Suzhou Photon-Matrix        
Adjustments to reconcile net loss to net cash used in operating activities:        
Gains on deconsolidation of a subsidiary (71,974)      
Investing activities:        
Cash disposed on deconsolidation of a subsidiary (22,643) (3,283)    
Series Angel Convertible Redeemable Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares     81,950  
Series A Convertible Redeemable Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares     1,032,104 206,422
Payment for issuance cost and fees       (8,500)
Refundable deposits in connection with the issuance of Convertible Redeemable Preferred Shares       ¥ 1,032,104
Repayment of refundable deposits in connection with the issuance of Series A Convertible Redeemable Preferred Shares     (1,032,104)  
Series A+ Convertible Redeemable Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares     1,331,641  
Payment for issuance cost and fees     (10,000)  
Series A++ Convertible Redeemable Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares     452,241  
Refundable deposits in connection with the issuance of Convertible Redeemable Preferred Shares     461,849  
Repayment of refundable deposits in connection with the issuance of Series A Convertible Redeemable Preferred Shares     461,849  
Series B Convertible Redeemable Preferred Shares        
Financing activities:        
Proceeds from issuance of Convertible Redeemable Preferred Shares ¥ 159,485 $ 23,123 ¥ 324,270