| Condensed financial information of the company, balance sheets |
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
|
2024 |
|
|
2025 |
|
|
|
RMB |
|
|
RMB |
|
ASSETS |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
|
480 |
|
|
|
559 |
|
Amounts due from subsidiaries and VIEs |
|
|
962,552 |
|
|
|
942,892 |
|
Prepayments and other current assets |
|
|
3,609 |
|
|
|
3,204 |
|
Total current assets |
|
|
966,641 |
|
|
|
946,655 |
|
Non-current assets: |
|
|
|
|
|
|
Investments in the subsidiaries |
|
|
488,251 |
|
|
|
500,416 |
|
Available-for-sale debt investments |
|
|
313 |
|
|
|
306 |
|
Total non-current assets |
|
|
488,564 |
|
|
|
500,722 |
|
Total assets |
|
|
1,455,205 |
|
|
|
1,447,377 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Amounts due to subsidiaries and VIEs |
|
|
278,913 |
|
|
|
275,349 |
|
Accrued expenses and other current liabilities |
|
|
1,025 |
|
|
|
885 |
|
Total current liabilities |
|
|
279,938 |
|
|
|
276,234 |
|
Total liabilities |
|
|
279,938 |
|
|
|
276,234 |
|
Shareholders’ equity: |
|
|
|
|
|
|
Class A ordinary shares (US$0.01 par value, 680,000,000 shares authorized; 264,998,965 shares issued and 259,191,877 shares outstanding as of December 31, 2024 and 2025, respectively) |
|
|
17,499 |
|
|
|
17,499 |
|
Class B ordinary shares (US$0.01 par value, 320,000,000 shares authorized; 317,325,360 shares issued and 317,325,360 shares outstanding as of December 31, 2024 and 2025, respectively) |
|
|
22,053 |
|
|
|
22,053 |
|
Additional paid-in capital |
|
|
1,642,077 |
|
|
|
1,642,094 |
|
Treasury stock (5,807,088 shares as of December 31, 2024 and 2025, respectively) |
|
|
(1,480 |
) |
|
|
(1,480 |
) |
Accumulated deficits |
|
|
(467,577 |
) |
|
|
(467,241 |
) |
Accumulated other comprehensive loss |
|
|
(37,305 |
) |
|
|
(41,782 |
) |
Total shareholders’ equity |
|
|
1,175,267 |
|
|
|
1,171,143 |
|
Total liabilities and shareholders’ equity |
|
|
1,455,205 |
|
|
|
1,447,377 |
|
|
| Condensed financial information of the company, statements of comprehensive income/(loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
|
|
2023 |
|
|
2024 |
|
|
2025 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
General and administrative expenses |
|
|
(16,902 |
) |
|
|
(8,979 |
) |
|
|
(6,562 |
) |
Total operating expenses |
|
|
(16,902 |
) |
|
|
(8,979 |
) |
|
|
(6,562 |
) |
Loss from operations |
|
|
(16,902 |
) |
|
|
(8,979 |
) |
|
|
(6,562 |
) |
Other income/(loss): |
|
|
|
|
|
|
|
|
|
Net interest income |
|
|
944 |
|
|
|
1,072 |
|
|
|
2 |
|
Foreign currency exchange (loss)/gain |
|
|
(4,181 |
) |
|
|
(3,628 |
) |
|
|
5,482 |
|
Share of (loss)/income from the subsidiaries |
|
|
(82,357 |
) |
|
|
(42,019 |
) |
|
|
1,414 |
|
Net (loss)/income |
|
|
(102,496 |
) |
|
|
(53,554 |
) |
|
|
336 |
|
Other comprehensive income/(loss) |
|
|
5,005 |
|
|
|
3,092 |
|
|
|
(4,477 |
) |
Comprehensive loss |
|
|
(97,491 |
) |
|
|
(50,462 |
) |
|
|
(4,141 |
) |
|
| Condensed financial information of the company, statements of cash flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
|
|
2023 |
|
|
2024 |
|
|
2025 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net cash used in operating activities |
|
|
(20,850 |
) |
|
|
(4,497 |
) |
|
|
(6,364 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Placement of short-term investments |
|
|
(58,951 |
) |
|
|
(108,928 |
) |
|
|
— |
|
Maturity of short-term investments |
|
|
61,388 |
|
|
|
108,928 |
|
|
|
— |
|
Return of equity investment principal from a subsidiary |
|
|
19,722 |
|
|
|
— |
|
|
|
— |
|
Net cash provided by investing activities |
|
|
22,159 |
|
|
|
— |
|
|
|
— |
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Repayment from/(payment to) subsidiaries and VIEs |
|
|
10,332 |
|
|
|
(15,736 |
) |
|
|
6,443 |
|
Repurchase of ordinary shares |
|
|
(655 |
) |
|
|
(825 |
) |
|
|
— |
|
Net cash provided by/(used in) financing activities |
|
|
9,677 |
|
|
|
(16,561 |
) |
|
|
6,443 |
|
Net increase/(decrease) in cash and cash equivalents |
|
|
10,986 |
|
|
|
(21,058 |
) |
|
|
79 |
|
Cash and cash equivalents at the beginning of the year |
|
|
10,552 |
|
|
|
21,538 |
|
|
|
480 |
|
Cash and cash equivalents at the end of the year |
|
|
21,538 |
|
|
|
480 |
|
|
|
559 |
|
|