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Bank Borrowings
 6 Months Ended
Jun. 30, 2024
Bank Borrowings [Abstract]  
BANK BORROWINGS

13. BANK BORROWINGS

 

Bank borrowings were as follows as of the respective balance sheet dates:

 

   December 31, 2023   June 30, 2024 
   RMB   RMB   US$ 
       (Unaudited) 
Short-term bank borrowing   5,000    5,000    688 
Long-term bank borrowing, current portion   9,500    9,000    1,238 
    14,500    14,000    1,926 

 

On December 13, 2021, Youxu Zibo entered into a three-year bank facility agreement with Bank of Qishang, a commercial bank in China, pursuant to which Youxu Zibo was entitled to borrow a loan of RMB10,000 with an annual interest rate of 6.87% for working capital needs. Youxu Zibo drew down the amount in full. A manufacturing facility of Youxu Zibo was pledged as collateral for this loan.