TRADE RECEIVABLES

12 Months Ended

Dec. 31, 2019

Disclosure of Trade receivables [Abstract]

TRADE RECEIVABLES

6.

TRADE RECEIVABLES

	December 31,
	2018		2019		2019
	CNY		CNY		US$
Trade receivables		—		3,956		568
Less: Provision for impairment		—		—		—
		—		3,956		568

A credit period of up to three months is granted to the customer. Trade receivables are non-interest-bearing.

An aging analysis of the trade receivables as of the end of the year, based on the invoice date and net of loss allowance, is as follows:

	December 31,
	2018		2019		2019
	CNY		CNY		US$
Within 3 months		—		3,956		568
		—		3,956		568

An impairment analysis is performed on trade receivables at each reporting date and expected credit losses are estimated by applying a loss rate approach with reference to the historical credit records of the Group’s customers. The loss rate is adjusted to reflect the current conditions and forecasts of future economic conditions, as appropriate. According to historical experience, all of the proceeds have been received within their due date, and therefore, management considers the probability of default is minimal as of December 31, 2019.