Condensed Financial Information of the Company (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information of the Company

Condensed balance sheets of parent company


		As of December 31,
		2023		2024		2024
		RMB		RMB		US$
ASSETS
Current assets
Cash, cash equivalents and short-term investments		3,116		10,242		1,403
Others		70		73		10
Total current assets		3,186		10,315		1,413
Non-current assets
Investments in subsidiaries, the VIE and subsidiaries of the VIE		193,146,679		318,641,783		43,653,746
Total non-current assets		193,146,679		318,641,783		43,653,746
Total assets		193,149,865		318,652,098		43,655,159

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Convertible bonds, current portion		648,570		5,309,597		727,412
Others		28,165		29,377		4,025
Total current liabilities		676,735		5,338,974		731,437

Non-current liabilities
Convertible bonds		5,231,523		—		—
Total non-current liabilities		5,231,523		—		—
Total liabilities		5,908,258		5,338,974		731,437

Shareholders’ equity
Class A ordinary shares (US$0.000005 par value; 77,300,000,000 shares authorized; 5,503,491,148 and 5,568,585,848 shares issued and outstanding as of December 31, 2023 and 2024, respectively)		177		180		25
Additional paid-in capital		107,293,091		117,829,308		16,142,549
Statutory reserves		105,982		237,680		32,562
Accumulated other comprehensive income		4,723,760		7,824,545		1,071,958
Retained earnings		75,118,597		187,421,411		25,676,628
Total shareholders’ equity		187,241,607		313,313,124		42,923,722
Total liabilities and shareholders’ equity		193,149,865		318,652,098		43,655,159

Condensed statements of comprehensive income of parent company


		For the years ended December 31,
		2022		2023		2024		2024
		RMB		RMB		RMB		US$

Costs of revenues		(605,611)		(111,208)		—		—

General and administrative expenses		(54,605)		(45,183)		(47,546)		(6,514)
Total operating expenses		(54,605)		(45,183)		(47,546)		(6,514)
Operating loss		(660,216)		(156,391)		(47,546)		(6,514)

Interest income		11,693		6,269		375		51
Interest expenses		(51,655)		(43,987)		—		—
Other (loss)/income, net		(14)		107,664		(19)		(3)
Share of results from subsidiaries, the VIE and subsidiaries of the VIE		32,238,254		60,112,989		112,481,702		15,409,930
Profit before income tax		31,538,062		60,026,544		112,434,512		15,403,464
Income tax expenses		—		—		—		—
Net income		31,538,062		60,026,544		112,434,512		15,403,464

Other comprehensive income
Foreign currency translation difference, net of tax of nil		5,860,304		1,332,984		2,605,982		357,018
Unrealized (losses)/gains on available-for-sale debt securities, net of tax		(18,166)		68,538		494,803		67,788
Total other comprehensive income		5,842,138		1,401,522		3,100,785		424,806
Comprehensive income		37,380,200		61,428,066		115,535,297		15,828,270

Condensed statement of cash flows of parent company


		For the years ended December 31,
		2022		2023		2024		2024
		RMB		RMB		RMB		US$
Net cash (used in)/generated from operating activities		(24,202)		71,615		(46,208)		(6,331)

CASH FLOW FROM INVESTING ACTIVITIES
Cash received from subsidiaries, the VIE and subsidiaries of the VIE, net		65,707		8,816,124		51,909		7,112
Others		—		—		(7,363)		(1,009)
Net cash generated from investing activities		65,707		8,816,124		44,546		6,103

CASH FLOW FROM FINANCING ACTIVITIES
Repurchase of convertible bonds		—		(8,968,817)		(91)		(12)
Others		10,079		8,191		1,255		171
Net cash generated from/(used in) financing activities		10,079		(8,960,626)		1,164		159

Exchange rate effect on cash, cash equivalents and restricted cash		7,700		14,450		231		32
Increase/(decrease) in cash, cash equivalents and restricted cash		59,284		(58,437)		(267)		(37)
Cash, cash equivalents and restricted cash at beginning of the year		2,269		61,553		3,116		427
Cash, cash equivalents and restricted cash at end of the year		61,553		3,116		2,849		390