Discontinued Operations (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Discontinued Operations [Abstract] |
|
| Schedule of Gain on Disposal |
| | |
Year ended December 31, 2025 | |
| | |
RMB | |
| Total net liabilities of the Disposal Group | |
| 230,750 | |
| Add: Writes-off of net amounts due from disposed subsidiaries - loss | |
| (125,016 | ) |
| Less: disposal proceeds | |
| — | |
| Gain on disposal before reclassification of cumulative foreign currency translation differences of the Disposal Group to profit or loss | |
| 105,734 | |
| Reclassification of cumulative foreign currency translation losses of the Disposal Group to profit or loss | |
| (56,748 | ) |
| Gain on disposal | |
| 48,986 | |
|
| Schedule of Results of Discontinued Operations |
Results
of discontinued operations:
| | |
| | |
Year ended December 31, | | |
Ten months ended October 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | |
| Net revenues | |
| 162,367 | | |
| 49,176 | | |
| 25,571 | |
| Cost of revenues | |
| (68,942 | ) | |
| (15,596 | ) | |
| (6,332 | ) |
| Gross profit | |
| 93,425 | | |
| 33,580 | | |
| 19,239 | |
| Operating expenses: | |
| | | |
| | | |
| | |
| Selling and marketing expenses | |
| (157,004 | ) | |
| (54,476 | ) | |
| (42,489 | ) |
| General and administrative expenses | |
| (20,126 | ) | |
| (15,530 | ) | |
| (13,043 | ) |
| Research and development expenses | |
| (11,267 | ) | |
| (11,890 | ) | |
| (1,551 | ) |
| Impairment of long-lived assets | |
| (1,515 | ) | |
| (4,048 | ) | |
| — | |
| Total operating expenses | |
| (189,912 | ) | |
| (85,944 | ) | |
| (57,083 | ) |
| Loss from discontinued operations | |
| (96,487 | ) | |
| (52,364 | ) | |
| (37,844 | ) |
| Other income/(expenses): | |
| | | |
| | | |
| | |
| Interest expenses, net | |
| (289 | ) | |
| (999 | ) | |
| (1,935 | ) |
| Gain/(loss) from equity method investments | |
| 181 | | |
| 532 | | |
| (57 | ) |
| Impairment of goodwill | |
| | | |
| (45,561 | ) | |
| — | |
| Other income, net | |
| 16,784 | | |
| 4,673 | | |
| (429 | ) |
| Loss from discontinued operations before income taxes | |
| (79,811 | ) | |
| (93,719 | ) | |
| (40,265 | ) |
| Income tax benefit | |
| — | | |
| — | | |
| — | |
| Net loss from discontinued operations | |
| (79,811 | ) | |
| (93,719 | ) | |
| (40,265 | ) |
|
| Schedule of Discontinued Operation of Assets and Liabilities |
Assets
and liabilities of the discontinued operations:
| | |
December 31, 2024 | | |
October 31, 2025 | |
| | |
RMB | | |
RMB | |
| ASSETS | |
| | |
| |
| Current assets: | |
| | |
| |
| Cash and cash equivalents | |
| 1,697 | | |
| 904 | |
| Restricted cash | |
| 4,044 | | |
| 4,000 | |
| Accounts and notes receivable, net | |
| 12,756 | | |
| 9,383 | |
| Prepayment and other current assets, net | |
| 14,951 | | |
| 26,373 | |
| Total current assets | |
| 33,448 | | |
| 40,660 | |
| Non-current assets: | |
| | | |
| | |
| Long-term investments | |
| 6,096 | | |
| 6,039 | |
| Total non-current assets | |
| 6,096 | | |
| 6,039 | |
| Total assets | |
| 39,544 | | |
| 46,699 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
| 13,875 | | |
| 2,807 | |
| Advance from customers | |
| 8,874 | | |
| 2,035 | |
| Salary and welfare benefits payable | |
| 4,707 | | |
| 15,921 | |
| Short-term borrowings | |
| 31,734 | | |
| 26,284 | |
| Other taxes payable | |
| 1,012 | | |
| 751 | |
| Current portion of deferred revenue | |
| 798 | | |
| — | |
| Short-term operating lease liabilities | |
| 3,378 | | |
| 5,070 | |
| Payables due to related parties | |
| 10,354 | | |
| — | |
| Other current liabilities | |
| 17,459 | | |
| 214,581 | |
| Total current liabilities | |
| 92,191 | | |
| 267,449 | |
| Long-term borrowings | |
| 10,000 | | |
| 10,000 | |
| Long-term operating lease liabilities | |
| 3,362 | | |
| — | |
| Total non-current liabilities | |
| 13,362 | | |
| 10,000 | |
| Total liabilities | |
| 105,553 | | |
| 277,449 | |
|
| Schedule of Cash Flows of the Discontinued Operations |
Cash
flows of the discontinued operations:
| | |
For the year ended December 31, | | |
For the ten months ended October 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | |
| Net cash used in discontinued operations | |
| | |
| | |
| |
| Net cash( used in) /generated from operating activities | |
| (78,967 | ) | |
| (29,204 | ) | |
| 534 | |
| Net cash generated from/(used in) investing activities | |
| — | | |
| (19 | ) | |
| — | |
| Net cash generated from/(used in) financing activities | |
| 13,972 | | |
| 23,047 | | |
| (1,450 | ) |
|