v3.26.1
Consolidated Statements of Cash Flows - CNY (¥)
¥ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net (loss)/income ¥ 365 ¥ (52,946) ¥ (109,115)
Adjustments to reconcile net (loss)/income to net cash used in operating activities:      
Share-based compensation 17 1,542 3,713
Provision for/(reversal of) allowance for expected credit losses, including related party amounts of RMB150, RMB(1,210) and RMB406 for the years ended December 31, 2023, 2024 and 2025, respectively) (1,690) (3,196) 14,337
Depreciation and amortization expense 10,673 13,819 21,531
Amortization of the right-of-use assets 16,444 21,098 21,032
Impairment of intangible assets 0 0 0
Loss from equity method investments, including impairment 3,924 15,964 11,125
Fair value changes in investments, net (23,784) (604) 440
Gain on disposition of a subsidiary     (548)
Deferred tax expense 9,927 6,912 18,890
Gain on disposal of long-lived assets (574) (127) (754)
Foreign currency exchange loss/(gain) (1,481) 1,519 1,945
Changes in operating assets and liabilities, net of effects of acquisition:      
Accounts receivable 40,017 (29,082) 112,896
Prepayments and other current assets (1,695) 4,437 (2,781)
Amounts due from related parties 1,606 (17,750) (11,380)
Other non-current assets 2,422 (435) 6,473
Accounts payable (22,822) 22,576 (54,699)
Advances from customers (2,901) (5,093) 2,255
Salary and welfare payable (13,404) 163 (8,040)
Taxes payable 885 6,340 (5,892)
Amounts due to related parties 4,817 2,157 (42,563)
Accrued expenses and other current liabilities (8,950) (5,785) (17,384)
Other liabilities (16,461) (25,812) (22,308)
Net cash provided by/(used in) operating activities (2,665) (44,303) (60,827)
Cash flows from investing activities:      
Purchase of property and equipment and intangible assets (13,045) (5,221) (9,717)
Placement of term deposits and short-term investments (2,412,349) (3,242,807) (1,278,637)
Maturity of term deposits and short-term investments 2,366,449 3,374,846 1,770,825
Return of equity investment principal from certain investee     1,072
Dividends received from the equity investment 1,172 427 530
Proceeds from disposal of long-lived assets 736 273 3,771
Net cash provided by/(used in) investing activities (57,037) 127,518 487,844
Cash flows from financing activities:      
Repurchase of ordinary shares   (825) (655)
Dividends paid to noncontrolling shareholders (1,000) (1,076)  
Net cash used in financing activities (1,000) (1,901) (655)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,987) 1,570 3,057
Net increase/(decrease) in cash, cash equivalents and restricted cash (63,689) 82,884 429,419
Cash, cash equivalents and restricted cash at the beginning of the year 617,340 534,456 105,037
Cash and cash equivalents at the beginning of the year 607,579 527,407 95,982
Restricted cash at the beginning of the year 9,761 7,049 9,055
Cash, cash equivalents and restricted cash at the end of the year 553,651 617,340 534,456
Cash and cash equivalents at the end of the year 537,549 607,579 527,407
Restricted cash at the end of the year 16,102 9,761 7,049
Supplemental disclosure of cash flow information:      
Cash paid during the period for income taxes ¥ 126 ¥ 87 ¥ 62