0001104659-24-046491 | 20-F | XBRL Viewer

As of December 31,

Short-term bank borrowings

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2023


	As of December 31,
	2022	2023
	RMB	RMB	US$
Accounts receivable	34,869	39,675	5,588
Less: allowance for credit losses	(5,142)	(5,331)	(751)
Total accounts receivable, net	29,727	34,344	4,837

Schedule of movement in allowance for credit losses


	2022	2023
	RMB	RMB	US$
Balance at beginning of year	37,690	5,142	724
Adoption of ASC 326	—	589	83
Provisions	2,089	636	90
Write-offs	(34,637)	(1,036)	(146)
Balance at end of year	5,142	5,331	751

Share capital

12 Months Ended

Dec. 31, 2023

Share capital

Share capital

16	Share capital

During the year ended December 31, 2021, no ADS were repurchased by the Company. As of December 31, 2021, total share repurchased under the 2018 Repurchase Plan was an aggregate of 46,030 ADSs, representing 613,737 Class A common shares.

During the year ended December 31, 2022, the Company had repurchased under the 2022 Repurchase Plan an aggregate of 13,673 ADSs, representing 182,313 Class A common shares.

During the year ended December 31, 2023, the Company had repurchased under the 2022 Repurchase Plan and 2023 Repurchase Plan an aggregate of 127,987 ADSs, representing 1,706,493 Class A common shares. As of December 31, 2023, the Company has no plan for cancellation of these repurchased shares. These shares were recorded at their purchase price on the consolidated balance sheets.

As at December 31, 2022, there were 62,731,971 and 17,000,189 Class A and Class B ordinary shares outstanding respectively.

As at December 31, 2023, there were 61,831,753 and 17,000,189 Class A and Class B ordinary shares outstanding respectively.

Every three of ADSs represent forty Class A common shares.

Basic and diluted loss per share is calculated as follows:


	For the year ended		For the year ended
	December 31, 2021		December 31, 2022		For the year ended December 31, 2023
	Class A	Class B	Class A	Class B	Class A		Class B
	RMB	RMB	RMB	RMB	RMB	US$	RMB	US$
Numerator:
Net loss attributable to Class A and Class B common shareholders	(110,258)	(30,326)	(84,032)	(22,932)	(48,851)	(6,881)	(13,247)	(1,866)
Net loss attributable to common shareholders	(110,258)	(30,326)	(84,032)	(22,932)	(48,851)	(6,881)	(13,247)	(1,866)
Denominator:
Weighted average number of shares used in calculating basic and diluted loss per share	61,809,501	17,000,189	62,296,172	17,000,189	62,688,838	62,688,838	17,000,189	17,000,189
Basic and diluted loss per share	(1.78)	(1.78)	(1.35)	(1.35)	(0.78)	(0.11)	(0.78)	(0.11)

For the years ended December 31, 2021, 2022 and 2023, the two-class method is applicable because the Company has Class A and Class B ordinary shares outstanding, and both classes have contractual rights with regards to dividends and distributions upon liquidation of the Company.

The effect of all outstanding share options, restricted share units and convertible notes were excluded from the computation of diluted loss per share for the years ended December 31, 2021, 2022 and 2023 as their effects would be anti-dilutive.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes

Summary of profit / (loss) before income taxes


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Cayman Islands	(23,555)	(21,516)	(16,192)	(2,282)
British Virgin Islands	(2)	(13)	—	—
Hong Kong	(1,564)	(2,540)	(1,982)	(279)
Singapore	—	34	96	14
China	(115,431)	(84,870)	(46,476)	(6,546)
Total loss before income taxes	(140,552)	(108,905)	(64,554)	(9,093)

Summary of composition of income tax expense


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Current income tax expense	(32)	(26)	(3)	—
Deferred tax benefit	—	481	1,889	266
Total income tax (expense)/ benefit	(32)	455	1,886	266

Summary of reconciliation between expenses of income taxes


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Loss before income tax	(140,552)	(108,905)	(64,554)	(9,093)
Income tax expense computed at PRC statutory rate (25%)	(35,138)	(27,226)	(16,139)	(2,273)
International tax rate differential	6,023	5,596	4,206	592
Preferential tax rate	21,437	5,518	10,613	1,495
Deferred tax items tax rate differential	(22,935)	(5,399)	(6,502)	(916)
Research and development super-deduction	(32,595)	(28,463)	(26,393)	(3,717)
Non-deductible expenses	8,092	4,367	3,438	483
Deferred tax expenses	—	(679)	49	7
Non-taxable income	—	(157)	—	—
Recognition of prior year tax loss	(4,851)	—	—	—
Changes in valuation allowance	59,999	45,988	28,842	4,063
Income tax expense/(benefit)	32	(455)	(1,886)	(266)

Summary of deferred tax assets and liabilities


	As of December 31,
	2022	2023
	RMB	RMB	US$
Deferred tax assets
Provision for credit losses	12,127	5,463	769
Share of loss from equity method investments	—	113	16
Accrued expenses	12,411	7,907	1,114
Net operating loss carry forward	282,098	320,122	45,089
Government grants related to assets	2,113	3	—
Property and equipment depreciation	—	20	3
Estimated liabilities	426	—	—
Lease liabilities	3,533	817	115
Less: Valuation allowance	(295,401)	(324,243)	(45,669)
Total deferred tax assets	17,307	10,202	1,437
Deferred tax liabilities
Property and equipment depreciation	(1,636)	(19)	(3)
Net unrealized gain on equity investments held	(4,332)	—	—
Operating lease right-of-use assets	(3,049)	(678)	(95)
Intangible assets arising from acquisition	(4,856)	(4,288)	(604)
Loan interest income	(8,258)	(8,139)	(1,147)
Total deferred tax liabilities	(22,131)	(13,124)	(1,849)
Net deferred tax assets	—	1,072	151
Net deferred tax liabilities	(4,824)	(3,994)	(563)

Other income (expenses)

12 Months Ended

Dec. 31, 2023

Other income (expenses)

Other income (expenses)

20	Other income (expenses)


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Government grants	20,879	31,531	10,361	1,459
Disposal loss of long-term investment	—	—	(10,754)	(1,515)
Impairment of long-term investments (Note 8)	(25,370)	(6,726)	(8,505)	(1,198)
Credit losses for loans receivable	(528)	(705)	(6,660)	(938)
Income from ADR profit-sharing program	2,111	2,207	1,336	188
Others	—	11	592	84
Total	(2,908)	26,318	(13,630)	(1,920)

Goodwill and Intangible assets - Schedule of Intangible Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Goodwill and Intangible assets
Less: Accumulated amortization	¥ (20,499)	$ (2,888)	¥ (14,276)
Total intangible assets, net	17,941	2,527	23,947
Computer software, systems and technology
Goodwill and Intangible assets
Intangible assets gross	14,340	2,020	14,123
Brand
Goodwill and Intangible assets
Intangible assets gross	10,300	1,451	10,300
Customer relationships
Goodwill and Intangible assets
Intangible assets gross	¥ 13,800	$ 1,944	¥ 13,800

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY ¥ in Thousands, $ in Thousands	Common shares CNY (¥) shares	Common shares USD ($) shares	Treasury Stock CNY (¥) shares	Treasury Stock USD ($) shares	Additional Paid-in Capital CNY (¥)	Additional Paid-in Capital USD ($)	Accumulated Other Comprehensive Income CNY (¥)	Accumulated Other Comprehensive Income USD ($)	Accumulated deficit CNY (¥)	Accumulated deficit USD ($)	Noncontrolling Interests CNY (¥)	Noncontrolling Interests USD ($)	CNY (¥) shares	USD ($) shares
Balance at the Beginning at Dec. 31, 2020	¥ 48				¥ 988,812		¥ 10,813		¥ (678,434)				¥ 321,239
Balance at the Beginning (in Shares) at Dec. 31, 2020 \| shares	78,392,359	78,392,359
Net loss									(140,584)				(140,584)
Translation adjustments							1,638						1,638
Exercise and vesting of share-based awards	¥ 1				2,937								2,938
Exercise and vesting of share-based awards (in shares) \| shares	644,103	644,103
Share-based compensation (Note 13)					30,212								30,212
Balance at the End at Dec. 31, 2021	¥ 49				1,021,961		12,451		(819,018)				215,443
Balance at the End (in Shares) at Dec. 31, 2021 \| shares	79,036,462	79,036,462
Net loss									(106,964)				(106,964)
Translation adjustments							5,853						5,853
Exercise and vesting of share-based awards	¥ 1				173								174
Exercise and vesting of share-based awards (in shares) \| shares	878,011	878,011
Repurchase of common shares			¥ (1,689)										(1,689)
Repurchase of common shares (in shares) \| shares	(182,313)	(182,313)	182,313	182,313
Share-based compensation (Note 13)					15,515								15,515
Adjustment of redeemable noncontrolling interests to redemption value (Note 17)					(642)								(642)
Balance at the End at Dec. 31, 2022	¥ 50		¥ (1,689)		1,037,007		18,304		(925,982)				127,690
Balance at the End (in Shares) at Dec. 31, 2022 \| shares	79,732,160	79,732,160	182,313	182,313
Cumulative effect of adoption of ASC 326 (Note 3)													(925,982)
Net loss									(62,098)		¥ (528)		(62,098)	$ (8,747)
Net loss													(62,626)
Translation adjustments							919						919	$ 129
Exercise and vesting of share-based awards			¥ 2,945		(2,993)								¥ (48)
Exercise and vesting of share-based awards (in shares) \| shares	806,273	806,273	(459,463)	(459,463)									605,577	605,577
Repurchase of common shares			¥ (3,709)										¥ (3,709)
Repurchase of common shares (in shares) \| shares	(1,706,491)	(1,706,491)	1,706,491	1,706,491
Share-based compensation (Note 13)					11,574								11,574
Adjustment of redeemable noncontrolling interests to redemption value (Note 17)					(191)								(191)
Reclassification to permanent equity (Note 17)											30,701		30,701	$ 4,324
Balance at the End at Dec. 31, 2023	¥ 50	$ 7	¥ (2,453)	$ (345)	¥ 1,045,397	$ 147,240	¥ 19,223	$ 2,708	(988,669)	$ (139,251)	¥ 30,173	$ 4,250	103,721	14,609
Balance at the End (in Shares) at Dec. 31, 2023 \| shares	78,831,942	78,831,942	1,429,341	1,429,341
Cumulative effect of adoption of ASC 326 (Note 3) \| ASC 2016									¥ (589)				(589)
Cumulative effect of adoption of ASC 326 (Note 3)													¥ (988,669)	$ (139,251)

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (62,668)	$ (8,827)	¥ (108,450)	¥ (140,584)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	5,301	747	24,362	27,337
Amortization of intangible assets	6,223	876	6,043	4,481
Lease expense to reduce right-of-use assets	8,029	1,131	9,002
Deferred tax benefits	(1,889)	(266)	(481)
Credit losses for accounts receivable	636	90	2,895	(246)
Interest expenses, net			807	2,857
Share of loss from equity method investment	450	63
Disposal loss of long-term investment	10,754	1,515
Impairment of long-term investments	8,505	1,198	6,726	25,370
Impairment of property and equipment	0		22,400	0
Credit losses for loans receivable	6,660	938	705	528
(Gain)/loss on disposal of property and equipment	(8,129)	(1,145)	14	(821)
Change in fair value of structured deposits			(59)	(20)
Change in fair value of foreign currency swap contract			(838)	(6,060)
Share-based compensation expenses	11,574	1,630	15,515	30,212
Changes in operating assets and liabilities:
Accounts and notes receivable	(5,855)	(825)	12,528	1,271
Prepayments and other current assets	6,076	856	17,447	13,572
Amounts due from related parties	255	36	(220)	(35)
Derivative assets			7,214
Other non-current assets	(3,181)	(448)	133	370
Accounts payable	2,904	409	(1,064)	1,699
Deferred revenue and customer deposits	(871)	(123)	12,023	8,605
Tax payable	3		(371)	(81)
Accrued interest related to convertible notes				(21,049)
Accrued liabilities and other current liabilities	(858)	(121)	(25,797)	(25,596)
Amounts due to related parties			(54)	54
Operating lease liabilities	1,860	262	(20,273)
Other non-current liabilities	(3,686)	(519)	2,317	1,486
Net cash used in operating activities	(17,907)	(2,523)	(17,476)	(76,650)
Cash flows from investing activities:
Purchase of short-term investments	(30,000)	(4,225)	(41,000)
Proceeds from maturities of short-term investments	30,000	4,225	71,000	50,000
Purchase of long-term investments			(2,690)
Payment for acquisitions, net of cash acquired			58
Proceeds from disposal of long-term investments	10,279	1,448	585
Investment in loans granted to investees	(1,000)	(141)	(1,000)	(2,000)
Proceeds from maturities of loans granted to investees			1,000
Investment in convertible loans				(4,859)
Purchase of property and equipment	(306)	(43)	(632)	(16,291)
Proceeds from disposal of property and equipment	16,371	2,306	24	2,238
Purchase of intangible assets	(218)	(31)	(492)	(2,646)
Net cash provided by investing activities	25,126	3,539	26,853	26,442
Cash flows from financing activities:
Proceeds from short-term bank loans			43,000	150,000
Repayment of short-term bank loans	(5,000)	(704)	(188,000)
Proceeds from issuance of common shares			1	1
Repurchase of ordinary shares	(3,709)	(522)	(1,689)
Prepayment for stock issuance cost			(1,525)
Repayment of convertible notes				(207,459)
Proceeds from exercise of share options	58	8	173	2,938
Net cash used in financing activities	(8,651)	(1,218)	(148,040)	(54,520)
Effect of exchange rate on cash and cash equivalents and restricted cash	179	25	341	3,080
Net decrease in cash and cash equivalents and restricted cash	(1,253)	(177)	(138,322)	(101,648)
Cash, cash equivalents and restricted cash at the beginning of year	116,260	16,375	254,582	356,230
Cash and cash equivalents at the beginning of the year	116,128	16,356	90,552	356,115
Restricted cash at the beginning of the year	132	19	164,030	115
Cash, cash equivalents and restricted cash at the end of year	115,007	16,198	116,260	254,582
Cash and cash equivalents at the end of the year	114,521	16,130	116,128	90,552
Restricted cash at the end of the year	486	68	132	164,030
Supplemental disclosures of cash flow information:
Income tax paid	18	3	296	182
Interest expense paid	212	30	2,434	4,513
Non-cash investing and financing activities:
Unpaid cash consideration for business combination (Note 12)	16,788	2,365	¥ 16,788
Acquisition of long-term investments	¥ 450	$ 63
Purchase of property and equipment included in accrued liabilities and other current liabilities				¥ 2,484

Lease - Additional information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Lease
Lease term	12 months	12 months
Weighted Average Remaining Lease Term	1 year 1 month 6 days	1 year 1 month 6 days	14 years
Weighted Average Discount Rate	5.60%	5.60%	3.21%
Operating Lease Cost	¥ 8,029	$ 1,131	¥ 9,002
Short Term Lease Cost	231	$ 33	331	¥ 12,707
Operating leases capitalized	¥ 0		¥ 0

Revenues (Tables)

12 Months Ended

Dec. 31, 2023

Revenues.

Schedule of revenues


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Developer Services:
Subscription	155,394	160,722	173,523	24,440
Value-Added Services	97,465	74,509	31,129	4,384
Vertical Applications	104,463	93,591	85,580	12,054
Total revenues	357,322	328,822	290,232	40,878

Income taxes - Summary of Reconciliation Between Expenses of Income Taxes (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Income taxes
Loss before income tax	¥ (64,554)	$ (9,093)	¥ (108,905)	¥ (140,552)
Income tax expense computed at PRC statutory rate	(16,139)	(2,273)	(27,226)	(35,138)
International tax rate differential	4,206	592	5,596	6,023
Preferential tax rate	10,613	1,495	5,518	21,437
Deferred tax items tax rate differential	(6,502)	(916)	(5,399)	(22,935)
Research and development super-deduction	(26,393)	(3,717)	(28,463)	(32,595)
Non-deductible expenses	3,438	483	4,367	8,092
Deferred tax expense	49	7	(679)
Non-taxable income			(157)
Recognition of prior year tax loss				(4,851)
Changes in valuation allowance	28,842	4,063	45,988	59,999
Income tax expense/(benefit)	¥ (1,886)	$ (266)	¥ (455)	¥ 32

Income taxes - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2023 USD ($)
Income taxes
Deferred tax assets related to net operating loss carry forwards	¥ 320,122	¥ 282,098			$ 45,089
Aggregate undistributed earnings	2,531	2,531
Interest and penalties related to an uncertain tax position	¥ 0	¥ 0
Send Cloud
Income taxes
Preferential tax rate gross	15.00%	20.00%	15.00%
VIE
Income taxes
Deferred tax assets related to net operating loss carry forwards	¥ 320,122	¥ 282,098			$ 45,089
Hong Kong
Income taxes
Effective statutory enterprise income tax rate	16.50%
China
Income taxes
Effective statutory enterprise income tax rate	25.00%
Effective preferential income tax rate	15.00%	15.00%	15.00%	15.00%
Singapore
Income taxes
Effective statutory enterprise income tax rate	17.00%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Revenues	¥ 290,232	¥ 328,822	¥ 357,322
Related Party
Revenues	¥ 0	¥ 400	¥ 100

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Related party transactions

12 Months Ended

Dec. 31, 2023

Related party transactions

Related party transactions

18	Related party transactions

The table below sets forth the major related parties and their relationships with the Company:


Name of related parties		Relationship
Weidong Luo		Founder, Chief Executive Officer
Guangzhou Tianlang Network Technology Co., Ltd.		Company that is significantly influenced by Weidong Luo

Details of related party balances as of December 31, 2022 and 2023 are as follows:

18.1 Amounts due from related parties


		As of December 31,
		2022	2023
		RMB	RMB	US$
Guangzhou Tianlang Network Technology Co., Ltd.		255	—	—
Total amounts due from related parties	(i)	255	—	—

Details of related party transactions for the years ended December 31, 2021, 2022 and 2023 are as follows:

18.2 Transactions with related parties


		For the year ended December 31,
		2021	2022	2023
		RMB	RMB	RMB	US$
Services provided to:	(i)
Guangzhou Tianlang Network Technology Co., Ltd.		100	400	—	—

(i)	The Company entered into agreements with Guangzhou Tianlang Network Technology Co., Ltd. to provide advertising services and JG Alliance service in 2021 and 2022. Guangzhou Tianlang Network Technology Co., Ltd. has been deregistered in 2023.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Condensed financial information of the parent company (Tables)

12 Months Ended

Dec. 31, 2023

Condensed financial information of the parent company

Condensed balance sheets


	As of December 31
	2022	2023
	RMB	RMB	US$
ASSETS:
Current assets:
Cash and cash equivalents	33,871	3,328	469
Due from the entities within the Group	7,655	8,273	1,165
Prepayments and other current assets	20,331	7,048	993
Total current assets	61,857	18,649	2,627
Non-current assets:
Long-term investments	334,988	296,579	41,772
Other non-current assets	—	5,055	712
Total non-current assets	334,988	301,634	42,484
Total assets	396,845	320,283	45,111
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued liabilities and other current liabilities	3,850	2,159	304
Due to the entities within the Group	265,305	244,576	34,448
Total current liabilities	269,155	246,735	34,752
Total liabilities	269,155	246,735	34,752
Shareholders’ equity
Class A common shares (par value of US$0.0001 per share as of December 31, 2022 and 2023; 4,920,000,000 shares authorized as of December 31, 2022 and 2023, 62,731,971 shares and 61,831,753 shares issued and outstanding as of December 31, 2022 and 2023, respectively)	39	39	5
Class B common shares (par value of US$0.0001 per share as of December 31, 2022 and 2023; 30,000,000 shares authorized as of December 31, 2022 and 2023, 17,000,189 shares and 17,000,189 shares issued and outstanding as of December 31, 2022 and 2023)	11	11	2
Treasury shares (182,313 and 1,429,341 class A common shares as of December 31, 2022 and 2023, respectively)	(1,689)	(2,453)	(345)
Additional paid-in capital	1,037,007	1,045,397	147,240
Accumulated deficit	(925,982)	(988,669)	(139,251)
Accumulated other comprehensive income	18,304	19,223	2,708
Total shareholders’ equity	127,690	73,548	10,359
Total liabilities and shareholders’ equity	396,845	320,283	45,111

Condensed statements of comprehensive loss


	Years ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Revenues	—	—	—	—
Cost of revenues	—	—	—	—
Gross profit	—	—	—	—
Operating expenses
Research and development	—	—	—	—
Sales and marketing	(553)	(272)	(517)	(73)
General and administrative	(17,785)	(12,443)	(11,430)	(1,610)
Share of losses of the subsidiaries and VIE	(117,029)	(85,448)	(45,933)	(6,470)
Total operating expenses	(135,367)	(98,163)	(57,880)	(8,153)
Loss from operations	(135,367)	(98,163)	(57,880)	(8,153)
Foreign exchange loss, net	(3,351)	(2,467)	(61)	(9)
Interest income	363	43	34	5
Interest expense	(7,820)	(1,985)	—	—
Other loss	(469)	(5,230)	(4,191)	(590)
Change in fair value of foreign currency swap contract	6,060	838	—	—
Loss before income taxes	(140,584)	(106,964)	(62,098)	(8,747)
Income tax expenses	—	—	—	—
Net loss	(140,584)	(106,964)	(62,098)	(8,747)


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Net loss attributable to common share holders	(140,584)	(106,964)	(62,098)	(8,747)
Other comprehensive income
Foreign currency translation adjustments	1,638	5,853	919	129
Total other comprehensive income, net of tax	1,638	5,853	919	129
Comprehensive loss	(138,946)	(101,111)	(61,179)	(8,618)

Condensed statements of cash flows


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Net cash (used in)/ provided by operating activities	(24,383)	195,530	(23,234)	(3,272)
Net cash used in investing activities	(4,859)	(2,690)	—	—
Net cash used in financing activities	(54,520)	(153,040)	(3,651)	(514)
Effect of exchange rate changes	4,361	(18,651)	(3,658)	(516)
Net (decrease)/ increase in cash and cash equivalents and restricted cash	(79,401)	21,149	(30,543)	(4,302)
Cash and cash equivalents and restricted cash at the beginning of year	92,123	12,722	33,871	4,771
Cash and cash equivalents and restricted cash at the end of year	12,722	33,871	3,328	469

Redeemable noncontrolling interests - Additional Information (Details) - 12 months ended Dec. 31, 2023 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Redeemable noncontrolling interests
Reclassified as noncontrolling interests within permanent equity	¥ 30,701	$ 4,324
Send Cloud
Redeemable noncontrolling interests
Noncontrolling Interest, ownership percentage by noncontrolling owners	47.63%
Fair value of redeemable noncontrolling interests	¥ 31,397
Reclassified as noncontrolling interests within permanent equity	¥ 30,701	$ 4,324

Goodwill and Intangible assets - Schedule of Estimated Amortization Expense Related to the Existing Intangible Assets (Details) - Dec. 31, 2023 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Goodwill and Intangible assets
For the year ending December 31, 2024	¥ 4,528	$ 638
2025	3,826	539
2026	3,806	536
2027	1,490	210
2028	¥ 1,030	$ 145

Share-based compensation - Schedule of Assumptions Used to Estimate Fair Values of Share Options Granted (Details) - ¥ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based compensation
Dividend yield	0.00%	0.00%	0.00%
Share Options
Share-based compensation
Risk-free interest rate, minimum	3.45%	1.87%	0.94%
Risk-free interest rate, maximum		3.75%	1.70%
Expected volatility, minimum	56.55%	55.99%	47.45%
Expected volatility, maximum		56.79%	56.62%
Weighted average expected volatility	56.55%	56.15%	50.26%
Maximum \| Share Options
Share-based compensation
Expected exercise multiple		¥ 2.8	¥ 2.8
Minimum \| Share Options
Share-based compensation
Expected exercise multiple	¥ 2.5	¥ 2.2	¥ 2.2

Short-term loan

12 Months Ended

Dec. 31, 2023

Short-term loan

Short-term loan

10	Short-term loan

In October 2022, the Company borrowed a RMB denominated loan of RMB5,000 with a fixed interest rate of 4.9% for a one-year term from Shenzhen Zhongxiaodan Micro Credit Co., Ltd. The short-term loan of RMB5,000 was fully repaid in October 2023.

Redeemable noncontrolling interests (Tables)

12 Months Ended

Dec. 31, 2023

Redeemable noncontrolling interests

Summary of redeemable non-controlling interests balance


	2022	2023
	RMB	RMB	US$
Balance as of January 1	—	30,552	4,303
Initial fair value of redeemable noncontrolling interests	31,397	—	—
Net loss attributable to redeemable noncontrolling interests	(1,486)	(42)	(6)
Adjustment of redeemable noncontrolling interests to redemption value	641	191	27
Reclassification to permanent equity	—	(30,701)	(4,324)
Balance as of December 31	30,552	—	—

Organization and principal activities (Tables)

12 Months Ended

Dec. 31, 2023

Organization and principal activities

Schedule of assets and liabilities and results of operations and cash flows of the VIE and its subsidiaries


	As of December 31,
	2022	2023
	RMB	RMB	US$
ASSETS:
Current assets:
Cash and cash equivalents	64,719	82,860	11,671
Restricted cash	132	132	19
Accounts and notes receivable, net	29,369	34,046	4,795
Prepayments and other current assets	21,656	16,457	2,318
Amounts due from the Company and its subsidiaries	236,093	214,042	30,147
Amounts due from related parties	255	—	—
Total current assets	352,224	347,537	48,950
Non-current assets:
Property and equipment, net	12,375	1,373	193
Operating lease right-of-use assets	31,336	4,081	575
Intangible assets, net	23,947	17,941	2,527
Goodwill	37,785	37,785	5,322
Long-term investments	103,144	79,031	11,131
Deferred tax assets	—	1,072	151
Other-non current assets	3,609	332	47
Total non-current assets	212,196	141,615	19,946
Total assets	564,420	489,152	68,896

LIABILITIES:
Current liabilities:
Short-term loan	5,000	—	—
Accounts payable	15,325	16,644	2,344
Deferred revenue and customer deposits	132,195	125,767	17,714
Operating lease liabilities	16,491	4,007	564
Accrued liabilities and other current liabilities	73,779	64,967	9,150
Amounts due to the Company and its subsidiaries	406,569	671,001	94,509
Total current liabilities	649,359	882,386	124,281
Non-current liabilities:
Amounts due to the Company and its subsidiaries	257,000	—	—
Deferred revenue	3,585	—	—
Operating lease liabilities	5,546	629	89
Deferred tax liabilities	4,824	3,994	563
Other non-current liabilities	2,076	563	79
Total non-current liabilities	273,031	5,186	731
Total liabilities	922,390	887,572	125,012

Summary of results of operations and cash flows of VIE and subsidiaries

The table sets forth the results of operations and cash flows of the VIE and its subsidiaries included in the Company’s consolidated statements of comprehensive loss and cash flows.


	For the years ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Revenues	351,243	322,066	285,304	40,184
Cost of revenues	(83,259)	(97,270)	(82,495)	(11,619)
Net loss	(100,782)	(75,486)	(45,313)	(6,382)
Net cash provided by/(used in) operating activities	68,336	(113,809)	55,921	7,876
Net cash (used in)/provided by investing activities	(186)	29,682	22,120	3,116
Net cash provided by/(used in) financing activities	30,000	(65,000)	(59,900)	(8,437)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Schedule of estimated useful lives of property and equipment

Computer equipment and servers		3 – 5 years

Office furniture and equipment		3 – 5 years

Leasehold improvements		over the shorter of lease terms or estimated useful lives of the assets

Schedule of estimated useful lives of intangible assets


Computer software, systems and technology		1 – 5 years

Brand		10 years

Customer relationship		5 years

Summary of contract liabilities

Lease - Schedule of future lease payments under operating leases (Details) - Dec. 31, 2023 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Lease
2024	¥ 4,178	$ 588
2025	606	85
Total future lease payments	4,784	673
Less: Imputed interest	148	20
Total lease liability balance	¥ 4,636	$ 653

Lease - Schedule Of information related to operating leases (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Lease
Cash payments for operating leases	¥ 7,894	$ 1,112	¥ 20,273
ROU assets obtained in exchange for operating lease liabilities	¥ 365	$ 51	¥ 28,688

Summary of Significant Accounting Policies - Summary of Contract Liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Contract with Customer, Asset and Liability [Abstract]
Contract liabilities	¥ 82,788	$ 11,660	¥ 82,312

Share capital - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class A Common Shares
Equity, Class of Treasury Stock [Line Items]
Common shares, shares outstanding	61,831,753	62,731,971
Class A Common Shares \| 2018 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchased under repurchase plan	613,737		613,737
Number of shares represented three ADSs	40
Class A Common Shares \| 2022 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchased under repurchase plan	1,176,467	182,313
Class A Common Shares \| 2022 Repurchase Plan and 2023 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchased under repurchase plan	1,706,493
Class B Common Shares
Equity, Class of Treasury Stock [Line Items]
Common shares, shares outstanding	17,000,189	17,000,189
American Depositary Shares
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased			0
American Depositary Shares \| 2018 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchased under repurchase plan	46,030		46,030
American Depositary Shares \| 2022 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchased under repurchase plan	88,235	13,673
American Depositary Shares \| 2022 Repurchase Plan and 2023 Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Share repurchased under repurchase plan	127,987

Related party transactions (Tables)

12 Months Ended

Dec. 31, 2023

Related party transactions

Schedule of major related parties and their relationships with the Company


Name of related parties		Relationship
Weidong Luo		Founder, Chief Executive Officer
Guangzhou Tianlang Network Technology Co., Ltd.		Company that is significantly influenced by Weidong Luo

Schedule of amount due from related party


		As of December 31,
		2022	2023
		RMB	RMB	US$
Guangzhou Tianlang Network Technology Co., Ltd.		255	—	—
Total amounts due from related parties	(i)	255	—	—

Schedule of transactions with related parties


		For the year ended December 31,
		2021	2022	2023
		RMB	RMB	RMB	US$
Services provided to:	(i)
Guangzhou Tianlang Network Technology Co., Ltd.		100	400	—	—

(i)	The Company entered into agreements with Guangzhou Tianlang Network Technology Co., Ltd. to provide advertising services and JG Alliance service in 2021 and 2022. Guangzhou Tianlang Network Technology Co., Ltd. has been deregistered in 2023.

Organization and principal activities - Summary of results of operations and cash flows of VIE and subsidiaries (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Organization and principal activities
Revenues	¥ 290,232	$ 40,878	¥ 328,822	¥ 357,322
Cost of revenues	(90,946)	(12,809)	(103,057)	(92,393)
Net loss	(62,098)	(8,747)	(106,964)	(140,584)
Net cash provided by/(used in) operating activities	(17,907)	(2,523)	(17,476)	(76,650)
Net cash (used in)/provided by investing activities	25,126	3,539	26,853	26,442
Net cash (used in)/provided by financing activities	(8,651)	(1,218)	(148,040)	(54,520)
VIE
Organization and principal activities
Revenues	285,304	40,184	322,066	351,243
Cost of revenues	(82,495)	(11,619)	(97,270)	(83,259)
Net loss	(45,313)	(6,382)	(75,486)	(100,782)
Net cash provided by/(used in) operating activities	55,921	7,876	(113,809)	68,336
Net cash (used in)/provided by investing activities	22,120	3,116	29,682	(186)
Net cash (used in)/provided by financing activities	¥ (59,900)	$ (8,437)	¥ (65,000)	¥ 30,000

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-based compensation

Summary of share option activity


				Weighted
			Weighted-	Average
		Weighted-	Average	Remaining
		Average	grant-date	Contractual	Aggregate
	Number of	Exercise	Fair Value	Term	Intrinsic
Options Granted to Employees and Directors	Options	Price	per Option	(Years)	Value
		RMB	RMB		RMB
Outstanding, December 31, 2022	8,876,466	8.11	15.06	6.23	31,347
Granted	2,105,026	2.80	3.23	—	—
Forfeited	298,790	1.98	11.31	—	—
Expired	—	—	—	—	—
Exercised	605,577	0.09	27.89	—	—
Cancelled	—	—	—	—	—
Outstanding, December 31, 2023	10,077,125	7.66	11.93	5.95	6,302
Vested and expected to vest as of December 31, 2023	10,077,125	7.66	11.93	5.95	6,302
Vested as of December 31, 2023	8,906,335	8.75	12.54	5.67	4,733

Schedule of Assumptions Used to Estimate fair values of share options granted


	2021	2022	2023
Risk-free interest rate	0.94% - 1.70%	1.87%-3.75%	3.45%
Dividend yield	0%	0%	0%
Expected volatility	47.45% - 56.62%	55.99%-56.79%	56.55%
Weighted average expected volatility	50.26%	56.15%	56.55%
Expected exercise multiple	2.2 - 2.8	2.2-2.8	2.5

Summary of restricted share units


		Weighted-	Weighted
		Average	Average
		grant-date	Remaining
	Number of	Fair Value	Contractual	Aggregate
	Share	per Restricted	Term	Intrinsic
Restricted Share Units Granted to Employees and Directors	Units	Share Unit	(Years)	Value
		RMB		RMB
Outstanding, December 31, 2022	199,963	9.81	9.80	1,337
Granted	1,016,031	1.74	—	—
Forfeited	57	10.10	—	—
Expired	—	—	—	—
Vested	199,875	10.00	—	—
Cancelled	—	—	—	—
Outstanding, December 31, 2023	1,016,062	1.71	9.68	1,511
Vested and expected to vest as of December 31, 2023	1,016,062	1.71	9.68	1,511

Summary of total compensation costs recognized


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Cost of revenue	41	2	3	—
Research and development	13,801	368	2,764	389
Sales and marketing	2,609	1,188	850	120
General and administrative	13,761	13,957	7,957	1,121
Total	30,212	15,515	11,574	1,630

Related party transactions - Schedule of Transactions With Related Parties (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Guangzhou Tianlang Network Technology Co Ltd \| Advertising Services and JG Alliance Service Arrangement
Related party transactions
Services provided to related party	¥ 400	¥ 100

Revenues - Schedule of revenues (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Revenues
Total revenues	¥ 290,232	$ 40,878	¥ 328,822	¥ 357,322
Subscription
Revenues
Total revenues	173,523	24,440	160,722	155,394
Value added services
Revenues
Total revenues	31,129	4,384	74,509	97,465
Vertical Applications
Revenues
Total revenues	¥ 85,580	$ 12,054	¥ 93,591	¥ 104,463

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Fair value measurements

12 Months Ended

Dec. 31, 2023

Fair value measurements

Fair value measurements

21	Fair value measurements

Assets and liabilities measured or disclosed at fair value

The Company’s non-financial long-lived assets, such as intangible assets and property and equipment, would be measured at fair value only if they were determined to be impaired. The Company uses a combination of valuation methodologies, including market approach based on the Company’s best estimate to determine the fair value of these non-financial assets. The Company measures non-recurring fair value measurements as of the observable transaction dates. The fair value (Level 2) was evaluated for certain property and equipment based on quoted prices for similar assets in markets that are not active.

The Company measures certain financial assets, including equity method investments and equity securities accounted for at fair value using measurement alternative at fair value on a non-recurring basis only if an impairment loss or upward valuation were to be recognized.

For the year ended December 31, 2022, assets measured at fair value are summarized below:


		Fair value measurement at December 31, 2022 using
			Significant
		Quoted prices in	other
	Total Fair	active markets	observable	Significant
	Value at	for identical	inputs	unobservable	Fair value
	December 31, 2022	assets (Level 1)	(Level 2)	inputs (Level 3)	adjustment
	RMB	RMB	RMB	RMB	RMB
Fair value measurement on a non-recurring basis
Equity investments accounted for at fair value using the alternative measurement ⁽ⁱ⁾	—	—	—	—	(6,726)
Property and equipment, net ⁽ⁱⁱ⁾	10,991	—	10,991	—	(22,400)
Total assets measured at fair value	10,991	—	10,991	—	(29,126)

21	Fair value measurements (continued)

Assets and liabilities measured or disclosed at fair value (continued)

For the year ended December 31, 2023, assets measured at fair value are summarized below:

Fair value measurement at December 31, 2023 using

Significant

Quoted prices in

other

Total Fair

active markets

observable

Significant

Value at

for identical

inputs

unobservable

Fair value

December 31, 2023

assets (Level 1)

(Level 2)

inputs (Level 3)

adjustment

RMB

USD

RMB

Fair value measurement on a non-recurring basis

Equity investments accounted for at fair value using the alternative measurement ⁽ⁱ⁾

—

(8,505)

Total assets measured at fair value

—

(8,505)

(i)

When there is impairment of equity investments accounted for under the measurement alternative, the non-recurring fair value measurements are measured at the date of impairment. For the years ended December 31, 2022 and 2023, the Company recognized full impairment charges to reduce the carrying values of certain equity investments to nil due to the significant deterioration in the investees’ operational performance and financial position, liquidity concerns and/or substantial doubt regarding the investees’ ability to continue as a going concerns.

(ii)

The property and equipment impairment loss was a result of the “Going -Cloud” project undertaken, and was included in the consolidated statement of comprehensive loss for the year ended December 31, 2022. The Company’s “Going-Cloud” project is a transition to use cloud based servers for a portion of our infrastructure needs, whereas the Company completely operated and maintained self-owned servers previously. The property and equipment impaired in 2022 have been disposed in 2023.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restricted net assets - Additional Information (Details) - 12 months ended Dec. 31, 2023 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Restricted net assets
Threshold limit percentage of registered capital	50.00%
Amounts of net assets restricted	¥ 457,721	$ 64,469
Minimum
Restricted net assets
Minimum percentage of net profit to be allocated to statutory reserve fund	10.00%

Business combination (Tables)

12 Months Ended

Dec. 31, 2023

Business combination

Schedule of business combination


		RMB
Purchase consideration	(i)	34,473
Fair value of redeemable noncontrolling interests		31,397
Less:
Cash and cash equivalents		17,744
Customer relationships		13,800
Brand		10,300
Other current and noncurrent assets		1,025
Deferred revenue		(6,529)
Deferred tax liabilities		(5,330)
Other current liabilities		(2,925)
Goodwill		37,785

(i)RMB16,788 (US$2,365) of the purchase consideration remains unpaid as of December 31, 2023 for which there is no specified repayment term (Note 12).

Summary of Significant Accounting Policies - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) item ¥ / $ shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 CNY (¥) item shares	Dec. 31, 2021 CNY (¥) item shares	Dec. 31, 2023 USD ($) item ¥ / $	Nov. 16, 2023 USD ($)	Jan. 01, 2023 CNY (¥)	Dec. 31, 2022 USD ($) item	Sep. 15, 2022 USD ($)	Nov. 20, 2018 USD ($)
Summary Of significant accounting policies
Foreign currency exchange rate \| ¥ / $	7.0999				7.0999
Finite lived intangible asset residual value \| ¥	¥ 0
Impairment of long-lived assets other than goodwill \| ¥	0		¥ 22,400	¥ 0
Impairment charge of goodwill \| ¥	0		0
Impairment of long-term investments	¥ 8,505	$ 1,198	6,726	25,370
Value added tax percentage	6.00%	6.00%
Share repurchased cash consideration \| ¥	¥ 3,709		1,689
Revenue Recognized	66,828	$ 9,413	67,419
Contract liabilities	82,799		88,478		$ 11,662
Unsatisfied performance obligation	44,752		37,818		6,303
Advertising expenses	7,035	991	6,460	12,767
Disposal loss of long-term investment	10,754	1,515
Operating lease right-of-use assets	4,081		33,756		575
Employee defined contribution plan expense incurred	¥ 11,820	$ 1,665	16,379	¥ 16,714
Depreciation of the US$ against RMB, percent	2.94%	2.94%
Accumulated deficit	¥ (988,669)		(925,982)		$ (139,251)
ASC 2016
Summary Of significant accounting policies
Accumulated deficit \| ¥	(589)
ASC 2016 \| Effect of the adoption
Summary Of significant accounting policies
Accumulated deficit \| ¥							¥ 589
Land use rights
Summary Of significant accounting policies
Operating lease right-of-use assets	0		¥ 21,560					$ 3,126
Proceeds from termination of lease	¥ 9,603	$ 1,353
Supplier Concentration Risk \| Number of Suppliers [Member] \| Three Suppliers [Member]
Summary Of significant accounting policies
Concentration risk, percentage	27.80%	27.80%	50.20%	46.40%
Number of suppliers \| item	3		3	3	3			3
Geographic Concentration Risk [Member] \| Cash, Geographic Area [Member] \| CHINA
Summary Of significant accounting policies
Aggregate amount of cash and cash equivalents, and restricted cash	¥ 96,896		¥ 108,579		$ 13,647
Geographic Concentration Risk [Member] \| Cash, Geographic Area [Member] \| Outside China
Summary Of significant accounting policies
Aggregate amount of cash and cash equivalents, and restricted cash	¥ 18,111				$ 2,551			$ 1,114
Maximum \| Product Concentration Risk \| Number of Suppliers [Member]
Summary Of significant accounting policies
Concentration risk, percentage	50.00%	50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Summary Of significant accounting policies
Remaining performance obligations as revenues (in years)	2 years				2 years
American Depositary Shares \| 2018 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	46,030	46,030		46,030
Share repurchased cash consideration \| $		$ 5,909
American Depositary Shares \| 2022 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	88,235	88,235	13,673
Share repurchased cash consideration \| $		$ 656
American Depositary Shares \| 2023 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	53,425	53,425
Share repurchased cash consideration \| $		$ 121
American Depositary Shares \| Maximum
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $										$ 10,000
American Depositary Shares \| Maximum \| 2022 Repurchase Plan
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $									$ 5,000
American Depositary Shares \| Maximum \| 2023 Repurchase Plan
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $						$ 5,000
Class A Common Shares \| 2018 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	613,737	613,737		613,737
Number of shares represented three ADSs	40	40
Class A Common Shares \| 2022 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	1,176,467	1,176,467	182,313
Class A Common Shares \| 2023 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	712,333	712,333
Number of shares represented three ADSs	40	40

Prepayments and other current assets

12 Months Ended

Dec. 31, 2023

Prepayments and other current assets

Prepayments and other current assets

4	Prepayments and other current assets

Prepayments and other current assets consist of the following:


		As of December 31,
		2022	2023
		RMB	RMB	US$
Prepaid service fee		15,340	12,554	1,768
VAT and other surcharges		2,552	2,023	285
Investment in a convertible loan	(i)	4,632	—	—
Loans granted to equity investees	(ii)	3,000	—	—
Office rental deposit		199	1,629	229
Prepaid media cost		900	436	61
Receivables from sales of shares on behalf of employees		73	13	2
Others		3,705	3,570	504
Total prepayments and other current assets		30,401	20,225	2,849

(i)

The Company exercised its right to convert the outstanding loan to equity in the investee. As of December 31, 2023, the conversion has not been completed and the investment has been reclassified to “Other non-current assets”.

(ii)

The Company recognized credits losses on loans receivable of RMB6,000 for the year ended December 31, 2023, consisting of RMB3,000 of loans previously granted to equity investees classified as current assets, RMB2,000 of loans previously granted to equity investees classified as non-current assets and RMB1,000 of loans granted to equity investees in 2023.

Income taxes

12 Months Ended

Dec. 31, 2023

Income taxes

Income taxes

14	Income taxes

Cayman Islands

Under the current tax laws of Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. Besides, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands

Under the current laws of the British Virgin Islands (“BVI”), the Company’s BVI incorporated subsidiaries are not subject to tax on income or capital gains arising in BVI. In addition, upon payments of dividends by this entity to its shareholders, no BVI withholding tax will be imposed.

Singapore

Under the Singapore tax laws, the subsidiary in Singapore is subject to 17% income tax rate on any taxable income accruing in or derived from Singapore, or received in Singapore from outside Singapore.

Hong Kong

Under the Hong Kong tax laws, the subsidiaries in Hong Kong are subject to the Hong Kong profits tax rate at 16.5% and it may be exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends.

China

Effective from January 1, 2008, the PRC’s statutory, Enterprise Income Tax (“EIT”) rate is 25%. In accordance with the implementation rules of EIT Law, a qualified “High and New Technology Enterprise” (“HNTE”) is eligible for a preferential tax rate of 15%. The HNTE certificate is effective for a period of three years. An entity must file required supporting documents with the tax authority and ensure fulfillment of the relevant HNTE criteria before using the preferential rate. An entity could re-apply for the HNTE certificate when the prior certificate expires. The HNTE certificate of the VIE was obtained in December 2019 and expired in December 2021. The VIE re-applied and obtained the HNTE certificate with a validity period of three years starting December 2022 onwards. It was entitled to the preferential rate of 15% for 2021,2022 and 2023. In early 2021, the WFOE was recognized as an HNTE and was eligible for 15% preferential tax rate from 2020 to 2022. The WFOE re-applied and obtained the certificate of high and new technology enterprise with a validity period of three years starting December 2023. SendCloud was recognized as an HNTE in November 2021 and was classified as “small and micro businesses” in 2022. It enjoyed a preferential tax rate of 20% with a discount to taxable income for 2022 and was eligible for 15% preferential tax rate in 2021 and 2023. Ifaxin (Hubei) Cloud Computing Co. Ltd. (“Ifaxin”), a subsidiary of SendCloud, obtained the HNTE certificate with a validity period of three years starting from December 2021 onwards.

The Company’s loss before income taxes consists of:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Cayman Islands	(23,555)	(21,516)	(16,192)	(2,282)
British Virgin Islands	(2)	(13)	—	—
Hong Kong	(1,564)	(2,540)	(1,982)	(279)
Singapore	—	34	96	14
China	(115,431)	(84,870)	(46,476)	(6,546)
Total loss before income taxes	(140,552)	(108,905)	(64,554)	(9,093)

14	Income taxes (continued)

Composition of income tax expense

The current and deferred portions of income tax (expense)/benefit included in the consolidated statements of comprehensive loss are as follows:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Current income tax expense	(32)	(26)	(3)	—
Deferred tax benefit	—	481	1,889	266
Total income tax (expense)/ benefit	(32)	455	1,886	266

Reconciliation between expenses of income taxes

Reconciliation between the expense of income taxes computed by applying the statutory tax rate to loss before income taxes and the actual provision for income taxes is as follows:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Loss before income tax	(140,552)	(108,905)	(64,554)	(9,093)
Income tax expense computed at PRC statutory rate (25%)	(35,138)	(27,226)	(16,139)	(2,273)
International tax rate differential	6,023	5,596	4,206	592
Preferential tax rate	21,437	5,518	10,613	1,495
Deferred tax items tax rate differential	(22,935)	(5,399)	(6,502)	(916)
Research and development super-deduction	(32,595)	(28,463)	(26,393)	(3,717)
Non-deductible expenses	8,092	4,367	3,438	483
Deferred tax expenses	—	(679)	49	7
Non-taxable income	—	(157)	—	—
Recognition of prior year tax loss	(4,851)	—	—	—
Changes in valuation allowance	59,999	45,988	28,842	4,063
Income tax expense/(benefit)	32	(455)	(1,886)	(266)

14	Income taxes (continued)

Deferred tax assets and liabilities

The tax effects of temporary differences that give rise to the deferred tax balances as of December 31, 2022 and 2023 are as follows:


	As of December 31,
	2022	2023
	RMB	RMB	US$
Deferred tax assets
Provision for credit losses	12,127	5,463	769
Share of loss from equity method investments	—	113	16
Accrued expenses	12,411	7,907	1,114
Net operating loss carry forward	282,098	320,122	45,089
Government grants related to assets	2,113	3	—
Property and equipment depreciation	—	20	3
Estimated liabilities	426	—	—
Lease liabilities	3,533	817	115
Less: Valuation allowance	(295,401)	(324,243)	(45,669)
Total deferred tax assets	17,307	10,202	1,437
Deferred tax liabilities
Property and equipment depreciation	(1,636)	(19)	(3)
Net unrealized gain on equity investments held	(4,332)	—	—
Operating lease right-of-use assets	(3,049)	(678)	(95)
Intangible assets arising from acquisition	(4,856)	(4,288)	(604)
Loan interest income	(8,258)	(8,139)	(1,147)
Total deferred tax liabilities	(22,131)	(13,124)	(1,849)
Net deferred tax assets	—	1,072	151
Net deferred tax liabilities	(4,824)	(3,994)	(563)

The Company operates through its WFOE, the VIE and the subsidiaries of the VIE, and evaluates the potential realization of deferred tax assets on an entity basis. The Company recorded valuation allowance against deferred tax assets of those entities that were in a three-year cumulative financial loss or had incurred losses since inception and are not forecasting profits in the near future as of December 31, 2022 and 2023. In making such determination, the Company also evaluated a variety of factors including the Company’s operating history, accumulated deficit, existence of taxable temporary differences and reversal periods.

The Company had deferred tax assets related to net operating loss carry forwards of RMB282,098 and RMB320,122 (US$45,089) from its WFOE and the VIE in China as of December 31, 2022 and 2023, which can be carried forward to offset taxable income. The net operating losses of its WFOE and the VIE will expire in years 2024 to 2033 if not utilized for the subsidiaries in China. For the subsidiary in Hong Kong, the net operating losses are indefinite to be utilized.

The Company had taxable outside basis differences related to the aggregate undistributed earnings for distribution in China were nil and RMB2,531 for each of the years ended December 31, 2022 and 2023, which can be recovered tax-free by dividend distribution between the subsidiaries of the VIE in China. Therefore, the deferred tax liabilities are not recognized.

As of December 31, 2022 and 2023, the Company concluded that there was no significant tax uncertainties in its consolidated financial results. The Company did not record any interest and penalties related to an uncertain tax position for each of the years ended December 31, 2022 and 2023. The Company does not expect the amount of unrecognized tax benefits would increase significantly in the next 12 months. In accordance with relevant PRC tax administration laws, the tax year from 2018 through 2023 remain open to examination by the respective tax authorities. The Company may also be subject to the examinations of the tax filings in other jurisdictions, which are not material to the consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Lease

12 Months Ended

Dec. 31, 2023

Lease

Lease

Lease

Leases are classified as operating leases or finance leases in accordance with ASC 842. The Company’s operating leases mainly related to land and office facilities. The Company’s lease agreements include lease payments that are largely fixed, do not contain material residual value guarantees or variable lease payments. The Company’s leases do not contain restrictions or covenants that restrict the Company from incurring other financial obligations. For leases with terms greater than 12 months, the Company records the related asset and lease liability at the present value of lease payments over the term. Certain leases include rental escalation clauses, renewal options and/or termination options, which are factored into the Company’s determination of lease payments when appropriate.

As of December 31, 2022, the weighted average remaining lease term was 14.0 years and weighted average discount rate was 3.21% for the Company’s operating leases. As of December 31, 2023, the weighted average remaining lease term was 1.1 years and weighted average discount rate was 5.60% for the Company’s operating leases.

Operating lease cost for the years ended December 31, 2022 and 2023 were RMB9,002 and RMB8,029 (US$1,131), respectively, which excluded cost of short-term contracts. Short-term lease cost for the years ended December 31, 2022 and 2023 were RMB331 and RM231 (US$33). Total operating lease costs were RMB12,707 for the year ended December 31, 2021. For the years ended December 31, 2022 and 2023, no lease cost for operating leases was capitalized. Supplemental cash flow information related to operating leases was as follows:


	For the year ended December 31
	2022	2023
	RMB	RMB	US$
Cash payments for operating leases	20,273	7,894	1,112
ROU assets obtained in exchange for operating lease liabilities	28,688	365	51

Future lease payments uner operating lease as of December 31, 2023 were as follows:


	Operating lease
	RMB	US$
Year ending December 31,
2024	4,178	588
2025	606	85
Thereafter	—	—
Total future lease payments	4,784	673
Less: Imputed interest	148	20
Total lease liability balance	4,636	653

Accrued liabilities and other current liabilities - Additional Information (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Accrued liabilities and other current liabilities
Payable for business acquisition	¥ 16,788	$ 2,365	¥ 16,788
Send Cloud
Accrued liabilities and other current liabilities
Payable for business acquisition	¥ 16,788	$ 2,365

Condensed financial information of the parent company - Condensed Balance Sheets (Parenthetical) (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Class A Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	4,920,000,000	4,920,000,000
Common shares, shares issued	61,831,753	62,731,971
Common shares, shares outstanding	61,831,753	62,731,971
Treasury stock, common, shares	1,429,341	182,313
Class B Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	30,000,000	30,000,000
Common shares, shares issued	17,000,189	17,000,189
Common shares, shares outstanding	17,000,189	17,000,189
Parent Company \| Class A Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	4,920,000,000	4,920,000,000
Common shares, shares issued	61,831,753	62,731,971
Common shares, shares outstanding	61,831,753	62,731,971
Treasury stock, common, shares	1,429,341	182,313
Parent Company \| Class B Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	30,000,000	30,000,000
Common shares, shares issued	17,000,189	17,000,189
Common shares, shares outstanding	17,000,189	17,000,189

Deferred revenue and customer deposits - Roll Forward of Customer Deposits (Details) - Dec. 31, 2023 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Deferred revenue and customer deposits
Balance at beginning of year	¥ 50,326
Balance at end of the year	¥ 58,719	$ 8,270

Condensed financial information of the parent company - Condensed Statements of Comprehensive Loss (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Condensed Statements of Comprehensive Loss
Revenues	¥ 290,232	$ 40,878	¥ 328,822	¥ 357,322
Cost of revenues	(90,946)	(12,809)	(103,057)	(92,393)
Gross Profit	199,286	28,069	225,765	264,929
Operating expenses
Research and development	(121,806)	(17,156)	(154,476)	(206,722)
Sales and marketing	82,705	11,649	98,324	116,415
General and administrative	(45,653)	(6,430)	(105,404)	(79,922)
Share of losses of subsidiaries and VIE	(450)	(63)
Total operating expenses	(250,164)	(35,235)	(358,204)	(403,059)
Loss from operations	(50,878)	(7,166)	(132,439)	(138,130)
Foreign exchange gain /(loss), net	(18)	(3)	(2,866)	(3,376)
Interest income	1,200	169	2,321	6,597
Interest expense	(808)	(114)	(3,136)	(8,815)
Change in fair value of foreign currency swap contract			(838)	(6,060)
Loss before income tax	(64,554)	(9,093)	(108,905)	(140,552)
Income tax expenses	1,886	266	455	(32)
Net loss	(62,098)	(8,747)	(106,964)	(140,584)
Net loss attributable to common shareholders	(62,098)	(8,747)	(106,964)	(140,584)
Other comprehensive income (loss)
Foreign currency translation adjustments	919	129	5,853	1,638
Comprehensive loss	(61,179)	(8,618)	(101,111)	(138,946)
Parent Company
Operating expenses
Sales and marketing	(517)	(73)	(272)	(553)
General and administrative	(11,430)	(1,610)	(12,443)	(17,785)
Share of losses of subsidiaries and VIE	(45,933)	(6,470)	(85,448)	(117,029)
Total operating expenses	(57,880)	(8,153)	(98,163)	(135,367)
Loss from operations	(57,880)	(8,153)	(98,163)	(135,367)
Foreign exchange gain /(loss), net	(61)	(9)	(2,467)	(3,351)
Interest income	34	5	43	363
Interest expense			(1,985)	(7,820)
Other loss	(4,191)	(590)	(5,230)	(469)
Change in fair value of foreign currency swap contract			838	6,060
Loss before income tax	(62,098)	(8,747)	(106,964)	(140,584)
Net loss	(62,098)	(8,747)	(106,964)	(140,584)
Net loss attributable to common shareholders	(62,098)	(8,747)	(106,964)	(140,584)
Other comprehensive income (loss)
Foreign currency translation adjustments	919	129	5,853	1,638
Total other comprehensive income (loss), net of tax	919	129	5,853	1,638
Comprehensive loss	¥ (61,179)	$ (8,618)	¥ (101,111)	¥ (138,946)

Summary of Significant Accounting Policies - Schedule of estimated useful lives of property and equipment (Details)	Dec. 31, 2023
Leasehold improvements
Summary of Significant Accounting Policies
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember
Minimum \| Computer Equipment
Summary of Significant Accounting Policies
Estimated useful lives	3 years
Minimum \| Furniture and Fixtures
Summary of Significant Accounting Policies
Estimated useful lives	3 years
Maximum \| Computer Equipment
Summary of Significant Accounting Policies
Estimated useful lives	5 years
Maximum \| Furniture and Fixtures
Summary of Significant Accounting Policies
Estimated useful lives	5 years

Prepayments and other current assets (Tables)

12 Months Ended

Dec. 31, 2023

Prepayments and other current assets

Schedule of prepayment and other current assets


		As of December 31,
		2022	2023
		RMB	RMB	US$
Prepaid service fee		15,340	12,554	1,768
VAT and other surcharges		2,552	2,023	285
Investment in a convertible loan	(i)	4,632	—	—
Loans granted to equity investees	(ii)	3,000	—	—
Office rental deposit		199	1,629	229
Prepaid media cost		900	436	61
Receivables from sales of shares on behalf of employees		73	13	2
Others		3,705	3,570	504
Total prepayments and other current assets		30,401	20,225	2,849

(i)

(ii)

Fair Value Measurements - Summary of Assets And Liabilities Measured Or Disclosed At Fair Value (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2023 USD ($)
Fair value measurements
Property and equipment, net	¥ 1,433	¥ 14,947	$ 202
Property and equipment, net, Fair value adjustment		22,400
Fair value adjustment		(29,126)
Fair value measurement on a non-recurring basis
Fair value measurements
Property and equipment, net		10,991
Fair value adjustment	¥ (8,505)	(6,726)
Total assets and liabilities measured at fair value		10,991
Level 2 \| Fair value measurement on a non-recurring basis
Fair value measurements
Property and equipment, net		10,991
Total assets and liabilities measured at fair value		¥ 10,991

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2	Summary of Significant Accounting Policies

Basis of presentation

The consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles of the United States (“U.S. GAAP”).

Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE, and subsidiaries of the VIE. All significant intercompany transactions and balances have been eliminated upon consolidation.

Comparative Information

Certain financial information has been adjusted to conform with the current year’s presentation to facilitate comparison.

2	Summary of Significant Accounting Policies (continued)

Use of estimates

The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and judgments that affect the reported amounts in the consolidated financial statements and accompanying notes. These estimates form the basis for judgments that management make about the carrying values of assets and liabilities, which are not readily apparent from other sources. Management base their estimates and judgments on historical information and on various other assumptions that they believe are reasonable under the circumstances. U.S. GAAP requires management to make estimates and judgments in several areas, including, but not limited to, those related to allowance for credit losses of accounts receivable, and loans receivable, useful lives of property and equipment and intangible assets, the purchase price allocation and fair value of intangible assets, fair value of redeemable noncontrolling interests, impairment of goodwill, impairment of long-lived assets, fair value measurements and impairment for equity investments without readily determinable fair value, valuation allowance for deferred tax assets, uncertain tax position, fair value change of derivative assets, incremental borrowing rates for operating lease liabilities and share-based compensation. These estimates are based on management’s knowledge about current events and expectations about actions that the Company may undertake in the future. Actual results could differ from those estimates.

Convenience translation

Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB7.0999 per US$1.00 on December 29, 2023, as published on the website of the United States Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

Foreign currency translation

The functional currency of the Company and the Company’s subsidiary outside the PRC are US$. The Company’s PRC subsidiary, the VIE and subsidiaries of the VIE adopted RMB as their functional currencies. The determination of the respective functional currency is based on the criteria stated in ASC 830, Foreign Currency Matters. The Company uses RMB as its reporting currency. The consolidated financial statements of the Company are translated into RMB using the exchange rate as of the balance sheet date for assets and liabilities and average exchange rate for the year for income and expense items. Translation gains and losses are recorded in accumulated other comprehensive income, as a component of shareholders’ equity.

Transactions in currencies other than the functional currency are remeasured and recorded in the functional currency at the exchange rate prevailing on the transaction date.

Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured into the functional currency at the rates of exchange prevailing at the balance sheet dates. Transaction gains and losses are recognized in the consolidated statements of comprehensive loss during the period or year in which they occur.

Cash and cash equivalents

Cash and cash equivalents primarily consist of cash and demand deposits which are highly liquid. The Company considers highly liquid investments that are readily convertible to known amounts of cash and with original maturities from the date of purchase of three months or less to be cash equivalents. All cash and cash equivalents are unrestricted as to withdrawal and use.

2	Summary of Significant Accounting Policies (continued)

Restricted cash

Restricted cash balance mainly represents (a) cash granted by the government for certain approved technology research and development projects, which are not available for use until the Company obtains pre-approval from the government; and (b) deposits pledged for a bank account.

Accounts receivable, net

Prior to January 1, 2023, the Company assesses recoverability of accounts receivable in accordance with ASC 310. Subsequent to January 1, 2023, accounts receivable are recorded at the realizable value amount, net of allowances for credit loss in accordance with ASC 326 and records the allowance for credit losses as an offset to accounts receivable. The estimated credit losses is classified as “General and administrative” in the consolidated statements of comprehensive loss. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when the Company identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses using roll-rate method, the Company considers historical collectability based on past due status, the age of the accounts receivable balances, credit quality of the Company’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Company’s ability to collect from customers.

loans receivable, net

Loans receivable, net are included in “Prepayments and other current assets” and “Other non-current assets” on the consolidated balance sheets are carried at amortized cost. Prior to January 1, 2023, the Company assesses recoverability of loans receivable in accordance with ASC 310. On January 1, 2023, the Company adopted ASC 326. The allowance for credit losses represents the Company’s best estimate of expected credit losses over the remaining contractual life of the loans and are included in “other (loss)/income” in the consolidated statements of comprehensive loss. Management estimates the allowance for credit losses on loans not sharing similar risk characteristics on an individual basis. The key factors considered when determining the above allowances for credit losses include age of the amounts due, terms of the loans, historical collections and the creditworthiness and financial condition of the borrower. Interest income is recognized on loans receivable using the interest method except for when receivables are determined to be uncollectible, interest income is recognized on a cash basis method. Impaired loans are written off after all collection effort has ceased.

Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation and impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or the remaining lease term, whichever is shorter. The estimated useful lives of property and equipment are as follows:

Computer equipment and servers		3 – 5 years

Office furniture and equipment		3 – 5 years

Leasehold improvements		over the shorter of lease terms or estimated useful lives of the assets

2	Summary of Significant Accounting Policies (continued)

Property and equipment, net (continued)

Costs related to construction of property and equipment incurred before the assets are ready for their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment items and depreciation of these assets commences when they are ready for their intended use. Expenditures for repair and maintenance are expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from their respective accounts, and any gain or loss on such sale or disposal is reflected in the consolidated statements of comprehensive loss.

Intangible assets

Intangible assets with finite lives are carried at cost less accumulated amortization. Intangible assets represent computer software, systems and technology, brand and customer relationship acquired in a business combination. The cost of the brand and customer relationship is the fair value at the date of acquisition. All intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives, which are as follows:


Computer software, systems and technology		1 – 5 years

Brand		10 years

Customer relationship		5 years

Residual values are considered nil.

Impairment of long-lived assets other than goodwill

The Company evaluates long-lived assets, such as property and equipment and purchased intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC 360, Property, Plant and Equipment. When such events occur, the Company assesses the recoverability of the asset group based on the undiscounted future cash flow the asset group is expected to generate and recognizes an impairment loss when estimated undiscounted future cash flow expected to result from the use of the asset group plus net proceeds expected from disposition of the asset group, if any, is less than the carrying value of the asset group. If the Company identifies an impairment, the Company reduces the carrying amount of the asset group to its estimated fair value based on a discounted cash flow approach or, when available and appropriate, to comparable market values. The Company uses estimates and judgments in its impairment tests and if different estimates or judgments had been utilized, the timing or the amount of any impairment charges could be different. For the years ended December 31, 2021, 2022 and 2023, the impairment recognized for long-lived assets was nil, RMB22,400 and nil respectively.

Goodwill

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for noncontrolling interests over the identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill, which is nondeductible for tax purposes, is primarily attributable to the synergies expected to be achieved from the acquisition.

2	Summary of Significant Accounting Policies (continued)

Impairment of goodwill

The Company assesses goodwill for impairment in accordance with ASC 350-20, Intangibles—Goodwill and Other: Goodwill, (“ASC 350-20”), which requires that goodwill be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20.

Under ASC 350-20-35, the Company has the option to choose whether it will apply the qualitative assessment first and then the quantitative assessment, if necessary, or to apply the quantitative assessment directly. In the qualitative assessment, the Company primarily considers factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. If the Company believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, a quantitative impairment test is required. Otherwise, no further testing is required. Therefore, when the Company performs the quantitative impairment test it compares the fair value of the reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess.

The Company elected to bypass the qualitative assessment and proceeded directly to perform the quantitative test for the years ended December 31, 2022 and December 31, 2023, by quantitatively comparing the fair values of the reporting unit to its carrying amounts. The Company determines the fair value of the reporting unit based on estimated fair value using the income approach, and no impairment charge was recognized for the years ended December 31, 2022 and December 31, 2023.

Business combinations

The Company applies the definition of a business in ASC 805, Business Combinations to determine whether it is acquiring a business or a group of assets. Business combinations are accounted for using the acquisition method.

The Company accounts for its business combinations by recognizing in the financial statements the identifiable assets acquired, the liabilities assumed and any noncontrolling interests in the acquiree at fair value at the acquisition date. The determination and allocation of fair values to the identifiable assets acquired, liabilities assumed and redeemable noncontrolling interests is based on various assumptions and valuation methodologies requiring considerable judgment from management. The most significant variables in these valuations are discount rates, the number of years on which to base the cash flow projections, as well as the assumptions and estimates used to determine the cash inflows and outflows. The Company determines discount rates to be used based on the risk inherent in the related activity’s current business model and industry comparisons. The excess of (i) the total cost of acquisition, the fair value of the noncontrolling interests and the acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net tangible and intangible assets of the acquiree is recorded as goodwill. In addition, acquisition costs related to business combinations are expensed as incurred.

The Company records acquired intangible assets at fair value on the date of acquisition and amortizes such assets using the straight-line method over the expected useful life of the asset unless another amortization method is deemed to be more appropriate. The Company evaluates the remaining useful life of intangible assets on a periodic basis to determine whether events and circumstances warrant a revision to the remaining useful life. If the estimate of an intangible asset’s remaining useful life is changed, the Company will amortize the remaining carrying value of the intangible asset prospectively over the revised remaining useful life.

2	Summary of Significant Accounting Policies (continued)

Consolidation of noncontrolling interests

A noncontrolling interest is recognized to reflect the portion of a subsidiary’s equity which is not attributable, directly or indirectly, to the Company. Consolidated net loss on the consolidated statements of comprehensive loss includes the net loss attributable to noncontrolling interests when applicable. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows when applicable.

Redeemable noncontrolling interests

Noncontrolling interests in subsidiaries that are redeemable by the Company upon the occurrence of certain events that are not solely within the control of the Company are classified as redeemable noncontrolling interests, within mezzanine equity in the consolidated balance sheet. Net income or loss of the subsidiary attributable to the redeemable noncontrolling interests was subsequently recorded pursuant to ASC 810, Consolidation. After the attribution, the Company considers the provisions of ASC 480, Distinguish Liabilities from Equity to determine whether any further adjustments are necessary to increase the carrying value of the redeemable noncontrolling interests. Adjustments to the carrying amount of the redeemable noncontrolling interests are recognized as an adjustment to retained earnings, or in the absence of retained earnings, by adjustment to additional paid-in-capital.

Long-term investments

The Company’s long-term investments consist of equity method investments and equity investments without readily determinable fair value.

Equity investments without readily determinable fair value

The Company accounts for investments in an investee over which the Company does not have significant influence and which do not have readily determinable fair value using the measurement alternative, which is defined as cost, less impairments, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Company makes a qualitative assessment considering impairment indicators to evaluate whether an investment is impaired at each reporting date. Impairment indicators considered include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee, including factors that raise significant concern about the investee’s ability to continue as a going concern, a significant adverse change in the regulatory, economic or technological environment of the investee, and a significant adverse change in the general market condition of the industry in which the investee operates. If a qualitative assessment indicates that the investment is impaired, the Company estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Company has to recognize an impairment loss equal to the difference between the carrying value and fair value.

2	Summary of Significant Accounting Policies (continued)

Long-term investments (continued)

Equity method investments

The Company accounts for investments in an investee over which the Company can exercise significant influence but does not own a majority equity interest or control using the equity method in accordance with ASC 323, Investments-Equity Method and Joint Ventures (“ASC 323”). Under the equity method, the Company initially records its investment at cost and the difference between the cost of the equity investee and the amount of the underlying equity in the net assets of the equity investee is accounted for as if the investee were a consolidated subsidiary. The Company subsequently adjusts the carrying amount of the investments to recognize the Company’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. The Company will discontinue applying the equity method if an investment has been reduced to zero and has not guaranteed obligations of the investee or committed to provide further financial support to the investee. The Company evaluates the equity method investments for impairment at each report date, or more frequently if events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. An impairment loss is recognized in earnings when the decline in value of the investment is determined to be other-than-temporary.

Value added taxes (“VAT”)

The Company presents VAT assessed by government authorities as reductions of revenues. Pursuant to the PRC tax legislation, VAT is generally imposed in lieu of business tax in the modern service industries, on a nationwide basis. VAT of 6% applies to revenue derived from the provision of certain modern services. The Company is allowed to offset the qualified input VAT paid on taxable purchases against the output VAT chargeable on the modern services provided.

Treasury shares

Treasury shares represent shares repurchased by the Company that are no longer outstanding and are held by the Company. Treasury shares are accounted for under the cost method per ASC 505-30, Treasury Stock. Under this method, repurchase of shares were recorded as treasury shares at historical purchase price. On November 20, 2018, the Board of Directors of the Company approved a repurchase plan (the “2018 Repurchase Plan”) to repurchase its own issued and outstanding American depositary shares (“ADSs”) up to an aggregate value of US$10 million from the open market. On September 15, 2022, the Board of Directors of the Company approved a repurchase plan (the “2022 Repurchase Plan”) to repurchase its ordinary shares (including in the form of ADSs) up to an aggregate value of US$5 million from the open market. On November 16, 2023, the Board of Directors of the Company approved a repurchase plan (the “2023 Repurchase Plan”) to repurchase its ordinary shares (including in the form of ADSs) up to an aggregate value of US$ 5 million from the open market. As of December 31, 2023, under the 2018 Repurchase Plan, the Company had repurchased an aggregate of 46,030 ADSs, representing 613,737 Class A common shares on the open market for a total cash consideration of US$ 5,909. As of December 31, 2023, under the 2022 Repurchase Plan, the Company had repurchased an aggregate of 88,235 ADSs, representing 1,176,467 Class A common shares on the open market for a total cash consideration of US$656. As of December 31, 2023, under the 2023 Repurchase Plan, the Company had repurchased an aggregate of 53,425 ADSs, representing 712,333 Class A common shares on the open market for a total cash consideration of US$121. Every three of ADSs represent forty Class A common shares.

2	Summary of Significant Accounting Policies (continued)

Revenue recognition

Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Revenues are presented net of value-added tax collected on behalf of the government.

SAAS Businesses

The Company generates SAAS Businesses revenue primarily from developer services and vertical applications. For developer services, there are three types of contracts, subscription-based contracts, project-based contracts and consumption-based contracts. The Company primarily enters into subscription-based contracts with its customers to provide push notification or instant messaging (collectively “notification services”), which the Company provides its customers with access to its notification services platform. This enables customers to send notifications and messages to users. The nature of the Company’s performance obligation is a single performance obligation with a fixed transaction price based on subscription fees. The Company generally recognizes revenue ratably over time under the subscription-based contracts as stand-ready obligations because the customer simultaneously receives and consumes the benefits as the Company provides subscription services throughout a fixed contract term. The Company uses an output method of progress based on fixed contract term as it best depicts the transfer of control to the customer.

The Company primarily enters into consumption-based contracts with its customers to provide short message services (“SMS”), one-click verification services, email services and value-added services. For SMS, the Company enables customers to send short messages to users for developer-user communication and authentication. For one-click verification services, the Company enables users to verify the cellphone number of users without verification code after integrating the one-click verification SDK. For email services, the Company enables the customers to send emails to users. Customers pay for SMS, one-click verification, and email services based on the pre-agreed rate per message or email and the number of messages or email delivered. The Company acts as the principal in the SMS, one-click verification, and email services in which the Company has control over the fulfillment of services. The Company recognizes revenue on a gross basis and at the point in time when messages are delivered. For value-added services, the Company provided advertising services by connecting advertisers and application (“APP”) developers, who are the suppliers of where the ads will be displayed. The Company enters into contractual arrangements with advertisers that stipulate the types of advertising to be delivered and priced. Advertising customers pay for the value-added service primarily based on a cost-per-action (“CPA”) basis or cost-per-click (“CPC”) basis. All of the contractual arrangements’ duration is less than one year. The Company acts as the principal in the value-added services in which the Company has control over the fulfillment of the service and has discretion in establishing price. Accordingly, the Company recognizes revenue on a gross basis and at a point in time once agreed actions are performed.

2	Summary of Significant Accounting Policies (continued)

Revenue recognition (continued)

SAAS Businesses (continued)

The Company primarily enters into project-based contracts with its customers to provide private cloud-based developer services, which are designed to provide customizable services to customers who want a more controlled software environment and more comprehensive technology and customer support. The Company provides its customers one combined performance obligation including customized APP push notification system or instant messaging system and related system training services as both performance obligations are incapable of being distinct because the customer cannot derive economic benefit from the related system training services on its own. Meanwhile, the Company also provides post contract assurance-type maintenance services, which usually have a duration of one year. The transaction price is fixed based on the signed contract consideration. Under ASC 606, the Company recognize revenue at the point in time when the system is implemented, and the training service is provided, which is represented by the customer acceptance received by the Company.

For vertical applications, the Company enters into agreements with its customers to provide data analytic solutions and there are three types of contracts, including subscription-based contracts, project-based contracts and consumption-based contracts. The Company primarily enters into subscription-based contracts with its customers to provide customizable service packages for a fixed contract term, which allows the customers to subscribe a fixed number of apps to obtain unlimited volume of queries to the Company’s analytic results. The nature of the Company’s performance obligation is a single performance obligation with a fixed transaction price based on subscription fees. The Company generally recognizes revenue ratably over time under the subscription-based contracts, because the customer simultaneously receives and consumes the benefits as the Company provides subscription services throughout a fixed contract term.

The Company primarily enters into project-based contracts with its customers to provide in-depth analytics services and generate customized reports based on the customers’ specific requirements. The nature of the Company’s performance obligation is a single performance obligation with a fixed transaction price based on the signed contract consideration. The Company recognizes revenue at the point in time when the customized reports are provided.

The Company primarily enters into consumption-based contracts with its customers to process the queries or provide features based on the customers’ requirements. The nature of the Company’s performance obligation is a single performance obligation, and the transaction price is determined based on the pre-agreed the rate per query and the number of queries delivered. When the Company receives a placed order, it recognizes revenue at a point in time when the queries are processed, or the features are utilized by the customers.

For certain arrangements, customers are required to pay the Company before the services are delivered. For other arrangements, the Company provides customers with a credit term under six months.

2	Summary of Significant Accounting Policies (continued)

Other revenue recognition related policies

Timing of revenue recognition may differ from the timing of invoicing to customers. Some customers are required to pay before the services are delivered to the customer. When either party to a revenue contract has performed, the Company recognizes a contract asset or a contract liability on the consolidated balance sheet, depending on the relationship between the Company’s performance and the customer’s payment.

Contract assets represent amounts related to the Company’s rights to consideration received for private-cloud-based service and are included in “Prepayments and other assets” on the consolidated balance sheets. Amount of contract assets was not material as of December 31, 2022 and 2023, respectively.

Contract liabilities are mainly related to fees for services to be provided over the service period, which are included in “Deferred revenue and customer deposits” on the consolidated balance sheets. The increase in contract liabilities is a result of the increase in consideration received from the Company’s customers. Revenue recognized for the years ended December 31, 2022 and 2023 that was included in contract liabilities as of January 1, 2022 and 2023 was RMB67,419 and RMB66,828 (US$9,413), respectively. A summary of contract liabilities is as follows:

Customer deposits relate to customer’s unused balances that are refundable. Once this balance is utilized by the customer, the corresponding amount would be recognized as revenue.

As of December 31, 2022 and 2023, the Company’s unsatisfied (or partially unsatisfied) performance obligations for contracts with an original expected length of more than one year was RMB37,818 and RMB44,752 (US$6,303), respectively. The Company expects to recognize the majority of its remaining performance obligations as revenue within the next two years.

Costs of revenues

Cost of revenues consists primarily of channel cost associated with value - added services, short messaging cost, technical services cost, bandwidth cost, staff costs and depreciation of servers used for revenue generating services.

Research and development

Research and development expenses are primarily incurred in the development of new services, new features as well as costs associated with new product and technology development and enhancement. Research and development costs are expensed as incurred unless such costs qualify for capitalization as software development costs. In order to qualify for capitalization, (i) the preliminary project should be completed, (ii) management has committed to funding the project and it is probable that the project will be completed and the software will be used to perform the function intended, and (iii) it will result in significant additional functionality in the Company’s services. No research and development costs were capitalized during any of the years presented as the Company has not met all of the necessary capitalization requirements.

Advertising expenses

Advertising expenses, including promotion expenses, are charged to “sales and marketing expenses” as incurred. Advertising expenses amounted to RMB12,767, RMB6,460 and RMB7,035 (US$991) for the years ended December 31, 2021, 2022 and 2023, respectively.

2	Summary of Significant Accounting Policies (continued)

Government grants

Government grants primarily consist of financial grants received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. For certain government grants, there are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government grants of non-operating nature with no further conditions to be met are recorded as non-operating income in “Other income (expenses)” when received. When the grant relates to an expense item, it is recognized in the consolidated statement of comprehensive loss over the period necessary to match the grant to the related costs. Where the grant relates to an asset acquisition, it is recognized in the consolidated statements of comprehensive loss in proportion to the depreciation of the related assets.

Operating leases

The Company adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) from January 1, 2022 by using the modified retrospective method and did not restate the comparable periods. The Company has elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date and (3) initial direct costs for any expired or existing leases as of the adoption date. The Company also elected the short-term lease exemption for all contracts with lease terms of 12 months or less.

The Company determines if an arrangement is a lease or contains a lease at lease inception. Leases are classified at the inception date as either as a finance lease or an operating lease. The Company classifies a lease as a finance lease when the lease meets any one of the following criteria at lease commencement:

The lease transfers ownership of the underlying asset to the lessee by the end of the lease term.

The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise.

The lease term is for a major part of the remaining economic life of the underlying asset.

The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the underlying asset.

The underlying asset is of such a specialized nature that it is expected to have no alternative use to the Company at the end of the lease term.

For operating leases, the Company recognizes an ROU asset and a lease liability based on the present value of the lease payments over the lease term on the consolidated balance sheets at commencement date. At lease commencement, operating lease ROU assets represent the right to use underlying assets for their respective lease terms and are recognized at amounts equal to the lease liabilities adjusted for any lease payments made prior to the lease commencement date, less any lease incentives received and any initial direct costs incurred by the Company.

After lease commencement, operating lease liabilities are measured at the present value of the remaining lease payments using the discount rate determined at lease commencement. Operating lease ROU assets are measured at the amount of the lease liabilities and further adjusted for prepaid or accrued lease payments, the remaining balance of any lease incentives received, unamortized initial direct costs and impairment of the ROU assets, if any. Operating lease expense is recorded as a single cost on a straight-line basis over the lease term.

2	Summary of Significant Accounting Policies (continued)

Operating leases (continued)

The Company’s leases do not provide an implicit rate. Therefore, the Company estimates its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located.

Upon adoption, land use rights of RMB21,560 (US$3,126) relating to an agreement with the PRC government to acquire rights to lease land,were identified as operating lease right-of-use assets, which is included under the “Operating lease right-of-use assets” in the Company’s consolidated balance sheets. Accordingly, the Company classified the cash payments for acquiring the land use rights in operating cash flow activities for the year ended December 31, 2022. In June 2023, the Company terminated the land use rights agreement. As of December 31, 2023, the carrying amount of land use rights was nil. The Company classified the cash refund of RMB9,603 (US$1,353) from terminating the land use rights agreement in operating cash flow activities for the year ended December 31, 2023.

Employee defined contribution plan

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund, and other welfare benefits are provided to employees. Chinese labor regulations require that the Company make contributions to the government for these benefits based on a certain percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount that was expensed as incurred was RMB16,714, RMB16,379 and RMB11,820 (US$1,665) for the years ended December 31, 2021, 2022 and 2023, respectively.

Income taxes

The Company accounts for income taxes using the liability approach and recognizes deferred tax assets and liabilities for the expected future consequences of events that have been recognized in the consolidated financial statements or in the Company’s tax returns. Deferred tax assets and liabilities are recognized on the basis of the temporary differences that exist between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements using enacted tax rates in effect for the year end in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in earnings. Deferred tax assets are reduced by a valuation allowance through a charge to income tax expense when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The Company evaluates the potential for recovery of deferred tax assets by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The components of the deferred tax assets and liabilities are classified as non-current.

The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of the benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained (defined as a likelihood of more than fifty percent of being sustained upon an audit, based on the technical merits of the tax position), the tax position is then assessed to determine the amount of benefits to recognize in the consolidated financial statements. Tax positions that meet the “more likely than not” recognition threshold are measured, using a cumulative probability approach, at the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.

2	Summary of Significant Accounting Policies (continued)

Income taxes (continued)

The Company evaluated its income tax uncertainty under ASC 740. ASC 740 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The Company elects to classify interest and penalties related to an uncertain tax position, if and when required, as part of income tax expense in the consolidated statements of comprehensive loss.

Share-based compensation

In accordance with ASC 718, Compensation-Stock Compensation, the Company determines whether an award granted to its employees should be classified and accounted for as a liability award or equity award. Share-based awards classified as equity are recognized in the consolidated statements of comprehensive loss based on the grant date fair value while share-based awards classified as liabilities are recognized in the consolidated statements of comprehensive loss based on the fair value at each reporting date until settlement.

A change in the terms or conditions of a share-based award, or cancellation of a share-based award accompanied by the concurrent grant of a replacement award is accounted for as a modification (that is, an exchange of the original award for a new award), unless the award’s fair value, vesting conditions, and classification as an equity instrument are the same as immediately before and after the change. Incremental compensation cost is measured as the excess, if any, of the fair value of the modified award over the fair value of the original award immediately before its terms are modified, measured based on the fair value of the awards and other pertinent factors at the modification date. For vested awards, the Company recognizes incremental compensation cost in the period the modification occurs. For unvested awards, the Company recognizes over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date. If the fair value of the modified award is lower than the fair value of the original award immediately before modification, the minimum compensation cost the Company recognizes is the cost of the original award.

Fair value measurements

ASC 820-10, Fair Value Measurements and Disclosures: Overall, establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets

Level 2 — Include other inputs that are directly or indirectly observable in the marketplace

Level 3 — Unobservable inputs which are supported by little or no market activity

ASC 820-10 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

The carrying amounts of financial assets and liabilities, such as cash equivalents, restricted cash, accounts receivables, other receivables within prepayments and other current assets, balances with related parties, short-term loan, accounts payable, and other payables with accrued liabilities and other current liabilities, approximate their fair values because of the short maturity of these instruments.

2	Summary of Significant Accounting Policies (continued)

Comprehensive loss

Comprehensive loss is defined as the increase or decrease in equity of the Company during a year from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Accumulated other comprehensive income of the Company includes the foreign currency translation adjustments.

Loss per share

In accordance with ASC 260, Earning per Share, basic loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period using the two-class method. Under the two-class method, net loss is allocated between common shares based on dividends declared (or accumulated) and participating rights in undistributed earnings as if all the earnings for the reporting period had been distributed. For the year ended December 31, 2023, the two-class method is applicable because the Company has two classes of common shares outstanding, Class A and Class B common shares, respectively. The participating rights (liquidation and dividend rights) of the holders of the Company’s Class A and Class B common shares are identical, except with respect to voting. As a result, and in accordance with ASC 260, as the liquidation and dividend rights are identical, the undistributed loss is allocated on a proportionate basis.

Diluted loss per share is computed by dividing net loss attributable to common shareholders as adjusted for the effect of dilutive common equivalent shares, if any, by the weighted average number of common and dilutive common equivalent shares outstanding during the years. Common share equivalents are excluded from the computation of diluted loss per share if their effects would be anti-dilutive.

Concentration of risks

Concentration of credit risk

Financial assets that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and accounts receivable.

The Company places its cash and cash equivalents with reputable financial institutions which have high-credit ratings. As of December 31, 2022 and 2023, the aggregate amount of cash and cash equivalents, and restricted cash of RMB108,579 and RMB96,896 (US$13,647), respectively, were held at major financial institutions located in the PRC, and US$1,114 and US$2,551 (RMB18,111), respectively, were deposited with major financial institutions located outside the PRC. The Company continues to monitor the financial strength of the financial institutions. The Company regularly monitors the rating of the international financial institutions to avoid any potential defaults. There has been no recent history of default in relation to these financial institutions.

Accounts receivable are typically unsecured and derived from revenue earned from customers mainly in the PRC, which are exposed to credit risk. The risk is mitigated by credit evaluations the Company performs on its customers and its ongoing monitoring process of outstanding balances. The Company maintains reserves for estimated credit losses, which have generally been within its expectations.

Concentration of suppliers

Approximately 46.4%, 50.2% and 27.8% of advertising costs were paid to three suppliers for the years ended December 31, 2021, 2022 and 2023, respectively.

2	Summary of Significant Accounting Policies (continued)

Business and economic risk

The Company believes that changes in any of the following areas could have a material adverse effect on the Company’s future consolidated financial position, results of operations or cash flows: changes in the overall demand for services; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in certain strategic relationships; regulatory considerations and risks associated with the Company’s ability to attract employees necessary to support its growth. The Company’s operations could also be adversely affected by significant political, regulatory, economic and social uncertainties in the PRC.

Currency convertibility risk

Substantially all of the Company’s businesses are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts.

Foreign currency exchange rate risk

The functional currency and the reporting currency of the Company are the US$ and the RMB, respectively. On June 19, 2010, the PBOC announced the end of the RMB’s de facto peg to the US$, a policy which was instituted in late 2008 in the face of the global financial crisis, to further reform the RMB exchange rate regime and to enhance the RMB’s exchange rate flexibility. On March 15, 2014, the People’s Bank of China announced the widening of the daily trading band for RMB against US$. The appreciation of the US$ against RMB was approximately 2.94% in 2023. Most of the Company’s revenues and costs are denominated in RMB, while a portion of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable are denominated in US$. Any significant revaluation of RMB may materially and adversely affect the Company’s consolidated revenues, earnings and financial position in US$.

Segment information

The Company’s chief operating decision maker is the Chief Executive Officer, who makes resource allocation decisions and assesses performance based on the consolidated financial results. As a result, the Company has only one reportable segment.

As the Company generates substantially most of its revenues in the PRC, and substantially all of the Company’s long-lived assets and revenues are located in and derived from PRC, no geographical segments are presented.

Recently issued accounting pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which focuses on improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. A public entity shall disclose for each reportable segment the significant expense categories and amounts that are regularly provided to the chief operating decision maker (“CODM”) and included in reported segment profit or loss. ASU 2023-07 also requires public entities to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Entities are permitted to disclose more than one measure of a segment’s profit or loss if such measures are used by the CODM to allocate resources and assess performance, as long as at least one of those measures is determined in a way that is most consistent with the measurement principles used to measure the corresponding amounts in the consolidated financial statements. ASU 2023-07 is applied retrospectively to all periods presented in financial statements, unless it is impracticable. This update will be effective for the company’s fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently in the process of evaluating the disclosure impact of adopting ASU 2023-07.

2	Summary of Significant Accounting Policies (continued)

Recently issued accounting pronouncements (continued)

In December 2023, the FASB issued ASU 2023-09, Improvements to income tax disclosures (“ASU 2023-09”), which requires entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. The ASU 2023-09 also eliminates certain existing requirements related to uncertain tax positions and unrecognized deferred tax liabilities and replaces the term “public entity” with “public business entity” (PBE) in ASC 740. This update will be effective for the company’s fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently in the process of evaluating the disclosure impact of adopting ASU 2023-09.

In March 2024, the Securities and Exchange Commission issued The Enhancement and Standardization of Climate - Related Disclosures for Investors, which requires entities to provide information of certain climate - related information. This update will be effective for the Company’s fiscal years beginning in 2027. The Company is currently in the process of evaluating the disclosure impact.

Adoption of ASU 2016-13

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost and is codified in ASC 326, Credit Losses (“ASC 326”). ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. The Company adopted ASU 2016-13 on January 1, 2023, using a modified retrospective transition method and did not restate the comparable periods, which resulted in a cumulative-effect adjustment to increase the opening balance of accumulated deficit on January 1, 2023 by RMB589.

Revenues - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Revenues
Total revenues	¥ 290,232	$ 40,878	¥ 328,822	¥ 357,322
Transferred at point in time
Revenues
Total revenues	163,262	22,995	191,587	222,856
Transferred over time
Revenues
Total revenues	¥ 126,970	$ 17,883	¥ 137,235	¥ 134,466

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Share capital - Basic and Diluted Loss Per Share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Numerator:
Net loss attributable to Aurora Mobile Limited's shareholders	¥ (62,098)	$ (8,747)	¥ (106,964)	¥ (140,584)
Net loss attributable to common shareholders	(62,098)	(8,747)	(106,964)	(140,584)
Class A Common Shares
Numerator:
Net loss attributable to Aurora Mobile Limited's shareholders	(48,851)	(6,881)	(84,032)	(110,258)
Net loss attributable to common shareholders	¥ (48,851)	$ (6,881)	¥ (84,032)	¥ (110,258)
Denominator:
Weighted average number of shares used in calculating basic loss per share	62,688,838	62,688,838	62,296,172	61,809,501
Weighted average number of shares used in calculating diluted loss per share	62,688,838	62,688,838	62,296,172	61,809,501
Earnings Per Share, Basic \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Earnings Per Share, Diluted \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Class B Common Shares
Numerator:
Net loss attributable to Aurora Mobile Limited's shareholders	¥ (13,247)	$ (1,866)	¥ (22,932)	¥ (30,326)
Net loss attributable to common shareholders	¥ (13,247)	$ (1,866)	¥ (22,932)	¥ (30,326)
Denominator:
Weighted average number of shares used in calculating basic loss per share	17,000,189	17,000,189	17,000,189	17,000,189
Weighted average number of shares used in calculating diluted loss per share	17,000,189	17,000,189	17,000,189	17,000,189
Earnings Per Share, Basic \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Earnings Per Share, Diluted \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property and equipment, net

Schedule of Property and Equipment


	As of December 31,
	2022	2023
	RMB	RMB	US$
Computer equipment and servers	163,366	5,491	773
Office furniture and equipment	5,008	4,242	597
Leasehold improvements	4,313	4,211	593
Construction-in progress	85	85	13
Less: Accumulated depreciation and impairment	(157,825)	(12,596)	(1,774)
Total property and equipment, net	14,947	1,433	202

Share-based compensation - Summary of Total Compensation Costs Recognized (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Share-based compensation
Total	¥ 11,574	$ 1,630	¥ 15,515	¥ 30,212
Cost of revenue
Share-based compensation
Total	3		2	41
Research and development
Share-based compensation
Total	850	120	1,188	2,609
Sales and marketing
Share-based compensation
Total	7,957	1,121	13,957	13,761
General and administrative
Share-based compensation
Total	¥ 2,764	$ 389	¥ 368	¥ 13,801

Accrued liabilities and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Accrued liabilities and other current liabilities

Schedule of accrued liabilities and other current liabilities


		As of December 31,
		2022	2023
		RMB	RMB	US$
Accrued payroll and welfare payables		41,616	32,753	4,613
Payable for business acquisition	(i)	16,788	16,788	2,365
Other taxes and surcharges		8,005	12,041	1,696
Service fees		4,483	7,449	1,049
Government grants		1,000	2,628	370
Others		3,441	3,023	426
Total accrued liabilities and other current liabilities		75,333	74,682	10,519

(i)

The balance represents the remaining unpaid cash consideration of RMB16,788 from the acquisition of SendCloud (see Note 9 for details).

Lease (Tables)

12 Months Ended

Dec. 31, 2023

Lease

Schedule of supplemental cash flow information related to leases


	For the year ended December 31
	2022	2023
	RMB	RMB	US$
Cash payments for operating leases	20,273	7,894	1,112
ROU assets obtained in exchange for operating lease liabilities	28,688	365	51

Schedule of future lease payments under operating leases

Future lease payments uner operating lease as of December 31, 2023 were as follows:


	Operating lease
	RMB	US$
Year ending December 31,
2024	4,178	588
2025	606	85
Thereafter	—	—
Total future lease payments	4,784	673
Less: Imputed interest	148	20
Total lease liability balance	4,636	653

Organization and principal activities

12 Months Ended

Dec. 31, 2023

Organization and principal activities

Organization and principal activities

1Organization and principal activities

Aurora Mobile Limited (the “Company” and where appropriate, the term “Company” also refers to its subsidiaries, the variable interest entity (“VIE”), and subsidiaries of the VIE) is a limited company incorporated in the Cayman Islands under the laws of the Cayman Islands on April 9, 2014. The Company through its subsidiaries, the VIE, and subsidiaries of the VIE are principally engaged in providing Software-as-a-Service (“SAAS”) Businesses, which include developer services, financial risk management, market intelligence, and location-based intelligence services, in the People’s Republic of China (the “PRC”).

As PRC laws and regulations prohibit and restrict foreign ownership of internet value-added businesses, the Company operates its business, primarily through the VIE. The Company, through JPush Information Consulting (Shenzhen) Co., Ltd. (“Shenzhen JPush” or “WFOE”) entered into shareholder voting proxy agreement and an exclusive option agreement with the nominee shareholders of the VIE, Shenzhen Hexun Huagu Information Technology Co., Ltd. (“Hexun Huagu”), that gave WFOE the power to direct the activities that most significantly affect the economic performance of the VIE and to acquire the equity interests in the VIE when permitted by the PRC laws, respectively. In addition, pursuant to the supplementary agreements, the rights under the aforementioned shareholder voting proxy agreement and the exclusive call option agreements were assigned to the board of directors of the Company (the “Board”) or any officer authorized by the Board, which entitled the Company to receive economic benefits from the VIE that potentially could be significant to the VIE.

Despite the lack of equity ownership, as a result of a series of VIE agreements, the nominee shareholders of the VIE effectively assigned all of their voting rights underlying their equity in the VIE to the Company, which gives the Company the power to direct the activities that most significantly impact the VIE’s economic performance. In addition, through the exclusive business operation agreement, the Company, through its WFOE in the PRC, has the right to receive economic benefits from the VIE that potentially could be significant to the VIE. Lastly, through the financial support agreement, the Company has the obligation to absorb losses of the VIE that could potentially be significant to the VIE. Therefore, the Company is considered the primary beneficiary of the VIE and consolidates the VIE as required by SEC Regulation S-X Rule 3A-02 and Accounting Standards Codification (“ASC”) 810.

The following is a summary of the VIE agreements:

Exclusive Option Agreements

Pursuant to the exclusive option agreements entered into between the VIE’s nominee shareholders and the WFOE, the nominee shareholders irrevocably granted the WFOE an option to request the nominee shareholders to transfer or sell any part or all of its equity interests in the VIE, or any or all of the assets of the VIE, to the WFOE, or their designees. The purchase price of the equity interests in the VIE is equal to the minimum price required by PRC law. Without the WFOE’s prior written consent, the VIE and its nominee shareholders cannot amend its articles of association, increase or decrease the registered capital, sell or otherwise dispose of its assets or beneficial interest, create or allow any encumbrance on its assets or other beneficial interests and provide any loans or guarantees. The nominee shareholders cannot request any dividends or other form of assets. If dividends or other form of assets were distributed, the nominee shareholders are required to transfer all received distribution to the WFOE or their designees. These agreements are not terminated until all of the equity interest of the VIE is transferred to the WFOE or the person (s) designated by the WFOE. None of the nominee shareholders have the right to terminate or revoke the agreements under any circumstance unless otherwise regulated by law.

1	Organization and principal activities (continued)

Equity Interest Pledge Agreements

Pursuant to the equity interest pledge agreements, each nominee shareholder of the VIE has pledged all of their respective equity interests in the VIE to the WFOE as continuing first priority security interest to guarantee the performance of their and the VIE’s obligations under the shareholder voting proxy agreement, the exclusive option agreements and the exclusive business cooperation agreement. The WFOE is entitled to all dividends during the effective period of the share pledge except as it agrees otherwise in writing. If the VIE or any of the nominee shareholders breach the contractual obligations, the WFOE will be entitled to certain rights regarding the pledged equity interests, including receiving proceeds from the auction or sale of all or part of the pledged equity interests of the VIE in accordance with PRC laws. None of the nominee shareholders shall, without the prior written consent of the WFOE, assign or transfer to any third party, distribute dividends and create or cause any security interest and any liability in whatsoever form to be created on, all or any part of the equity interests it holds in the VIE. This agreement is not terminated until all of the technical support and consulting and service fees have been fully paid under the exclusive business cooperation agreement and all of the VIE’s obligations have been terminated under the other VIE agreements. The Company registered the equity pledges with the relevant office of the administration for industry and commerce in accordance with the PRC Property Rights Law.

Exclusive Business Cooperation Agreement

Pursuant to the exclusive business cooperation agreement entered into by the WFOE and the VIE, the WFOE provides exclusive technical support and consulting services in return for an annual service fee based on a certain percentage of the VIE’s audited total operating income, which is adjustable at the sole discretion of the WFOE. Without the WFOE’s consent, the VIE cannot procure services from any third party or enter into similar service arrangements with any other third party, except for those from the WFOE. In addition, the VIE has granted the WFOE an exclusive right to purchase any or all of the business or assets of the consolidated VIE at the lowest price permitted under PRC laws. This agreement is irrevocable or can only be unilaterally revoked/amended by the WFOE.

Financial Support Agreement

Pursuant to the financial support undertaking letter, the Company is obligated to provide unlimited financial support to the VIE, to the extent permissible under the applicable PRC laws and regulations. The Company will not request repayment of the loans or borrowings if the VIE or its shareholders do not have sufficient funds or are unable to repay.

1	Organization and principal activities (continued)

Shareholder Voting Proxy Agreement

The Nominee Shareholders also signed the shareholder voting proxy agreement whereby they granted an irrevocable proxy of the voting rights underlying their respective equity interests in the VIE from the WFOE to the Company, which includes, but are not limited to, all the shareholders’ rights and voting rights empowered to the Nominee Shareholders by the company law and the Company’s Articles of Association.

Accordingly, as a result of the power to direct the activities of the VIE pursuant to the shareholder voting proxy agreement and the obligation to absorb the expected losses of the VIE through the unlimited financial support, the Company is the primary beneficiary of the VIE.

Prior to July 26, 2022, Weidong Luo, founder of the Company, and two other individuals held 80%, 10% and 10 % of the equity interests in the VIE, respectively. On July 26, 2022, the nominee shareholders of the VIE, the two other individuals transferred their equity interests in the VIE to Guangyan Chen, a senior manager of Hexun Huagu (the “Transfer of Shares”). After the Transfer of Shares, 80% and 20% of the equity interests of the VIE are held by Weidong Luo and Guangyan Chen, respectively. On July 26, 2022, the registration of this transfer with the local branch of the State Administration of Industry and Commerce (the “SAIC”) was completed.

In the opinion of the Company’s PRC legal counsel, (i) the ownership structure of the PRC subsidiary and the VIE does not result in any violation of any explicit requirements under any PRC laws and regulations in all material aspects; (ii) each of the contractual arrangements is valid, binding and enforceable in accordance with its terms; and (iii) the execution, delivery and performance of the contractual arrangements do not result in any violation of the provisions of the articles of association and business licenses of the VIE.

However, uncertainties in the PRC legal system could cause the Company’s current ownership structure to be found in violation of existing and/or future PRC laws or regulations and could limit the Company’s ability to enforce its rights under these contractual arrangements. Furthermore, the nominee shareholders of the VIE may have interests that are different than those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the contractual agreements with the VIE.

In addition, if the current structure or any of the contractual arrangements is found to be in violation of any existing or future PRC laws or regulations, the Company could be subject to penalties, which could include, but not be limited to, revocation of business and operating licenses, discontinuing or restricting business operations, restricting the Company’s right to collect revenues, temporary or permanent blocking of the Company’s internet platforms, restructuring of the Company’s operations, imposition of additional conditions or requirements with which the Company may not be able to comply, or other regulatory or enforcement actions against the Company that could be harmful to its business. The imposition of any of these or other penalties could have a material adverse effect on the Company’s ability to conduct its business.

1	Organization and principal activities (continued)

Shareholder Voting Proxy Agreement (continued)

The following table set forth the assets and liabilities of the VIE and its subsidiaries included in the Company’s consolidated balance sheets:


	As of December 31,
	2022	2023
	RMB	RMB	US$
ASSETS:
Current assets:
Cash and cash equivalents	64,719	82,860	11,671
Restricted cash	132	132	19
Accounts and notes receivable, net	29,369	34,046	4,795
Prepayments and other current assets	21,656	16,457	2,318
Amounts due from the Company and its subsidiaries	236,093	214,042	30,147
Amounts due from related parties	255	—	—
Total current assets	352,224	347,537	48,950
Non-current assets:
Property and equipment, net	12,375	1,373	193
Operating lease right-of-use assets	31,336	4,081	575
Intangible assets, net	23,947	17,941	2,527
Goodwill	37,785	37,785	5,322
Long-term investments	103,144	79,031	11,131
Deferred tax assets	—	1,072	151
Other-non current assets	3,609	332	47
Total non-current assets	212,196	141,615	19,946
Total assets	564,420	489,152	68,896

LIABILITIES:
Current liabilities:
Short-term loan	5,000	—	—
Accounts payable	15,325	16,644	2,344
Deferred revenue and customer deposits	132,195	125,767	17,714
Operating lease liabilities	16,491	4,007	564
Accrued liabilities and other current liabilities	73,779	64,967	9,150
Amounts due to the Company and its subsidiaries	406,569	671,001	94,509
Total current liabilities	649,359	882,386	124,281
Non-current liabilities:
Amounts due to the Company and its subsidiaries	257,000	—	—
Deferred revenue	3,585	—	—
Operating lease liabilities	5,546	629	89
Deferred tax liabilities	4,824	3,994	563
Other non-current liabilities	2,076	563	79
Total non-current liabilities	273,031	5,186	731
Total liabilities	922,390	887,572	125,012

1	Organization and principal activities (continued)

Shareholder Voting Proxy Agreement (continued)

The table sets forth the results of operations and cash flows of the VIE and its subsidiaries included in the Company’s consolidated statements of comprehensive loss and cash flows.


	For the years ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Revenues	351,243	322,066	285,304	40,184
Cost of revenues	(83,259)	(97,270)	(82,495)	(11,619)
Net loss	(100,782)	(75,486)	(45,313)	(6,382)
Net cash provided by/(used in) operating activities	68,336	(113,809)	55,921	7,876
Net cash (used in)/provided by investing activities	(186)	29,682	22,120	3,116
Net cash provided by/(used in) financing activities	30,000	(65,000)	(59,900)	(8,437)

There were no pledges or collateralization of the VIE’s assets as of December 31, 2022 and 2023.The amount of net liabilities of the VIE was RMB357,970 and RMB398,420 (US$56,116) as of December 31, 2022 and 2023, respectively. Creditors of the VIE have no recourse to the general credit of the primary beneficiary of the VIE, and such amounts have been parenthetically presented on the face of the consolidated balance sheets. The VIE holds certain assets, including data servers and related equipment for use in their operations. The VIE does not own any facilities except for the rental of certain office premises from third parties under operating lease arrangements. The VIE also holds certain value-added technology licenses, registered copyrights, trademarks and registered domain names, including the official website, which are also considered as revenue-producing assets. However, none of such assets was recorded on the Company’s consolidated balance sheets as such assets were all internally developed and expensed as incurred as they did not meet the capitalization criteria. The Company has not provided any financial or other support that it was not previously contractually required to provide to the VIE during the periods presented.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Revenues	¥ 290,232	$ 40,878	¥ 328,822	¥ 357,322
Cost of revenues	(90,946)	(12,809)	(103,057)	(92,393)
Gross profit	199,286	28,069	225,765	264,929
Operating expenses
Research and development	(121,806)	(17,156)	(154,476)	(206,722)
Sales and marketing	(82,705)	(11,649)	(98,324)	(116,415)
General and administrative	(45,653)	(6,430)	(105,404)	(79,922)
Total operating expenses	(250,164)	(35,235)	(358,204)	(403,059)
Loss from operations	(50,878)	(7,166)	(132,439)	(138,130)
Foreign exchange loss	(18)	(3)	(2,866)	(3,376)
Interest income	1,200	169	2,321	6,597
Interest expense	(808)	(114)	(3,136)	(8,815)
Share of loss from equity method investment	(450)	(63)
Other (loss)/income	(13,630)	(1,920)	26,318	(2,908)
Change in fair value of structured deposits	30	4	59	20
Change in fair value of foreign currency swap contract \| ¥			838	6,060
Loss before income taxes	(64,554)	(9,093)	(108,905)	(140,552)
Income tax (expenses)/benefits	1,886	266	455	(32)
Net loss	(62,668)	(8,827)	(108,450)	(140,584)
Less: net loss attributable to noncontrolling interests and redeemable noncontrolling interests	(570)	(80)	(1,486)
Net loss attributable to Aurora Mobile Limited's shareholders	(62,098)	(8,747)	(106,964)	(140,584)
Net loss attributable to common shareholders	(62,098)	(8,747)	(106,964)	(140,584)
Other comprehensive income
Foreign currency translation adjustments	919	129	5,853	1,638
Total other comprehensive income, net of tax	919	129	5,853	1,638
Total comprehensive loss	(61,749)	(8,698)	(102,597)	(138,946)
Less: comprehensive loss attributable to noncontrolling interests and redeemable noncontrolling interests	(570)	(80)	(1,486)
Comprehensive loss attributable to Aurora Mobile Limited's shareholders	(61,179)	(8,618)	(101,111)	(138,946)
Class A Common Shares
Operating expenses
Net loss attributable to Aurora Mobile Limited's shareholders	(48,851)	(6,881)	(84,032)	(110,258)
Net loss attributable to common shareholders	¥ (48,851)	$ (6,881)	¥ (84,032)	¥ (110,258)
Net loss per share for class A and class B common shares:
Earnings Per Share, Basic \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Earnings Per Share, Diluted \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Shares used in net loss per share computation:
Common Shares - basic	62,688,838	62,688,838	62,296,172	61,809,501
Common Shares - diluted	62,688,838	62,688,838	62,296,172	61,809,501
Class B Common Shares
Operating expenses
Net loss attributable to Aurora Mobile Limited's shareholders	¥ (13,247)	$ (1,866)	¥ (22,932)	¥ (30,326)
Net loss attributable to common shareholders	¥ (13,247)	$ (1,866)	¥ (22,932)	¥ (30,326)
Net loss per share for class A and class B common shares:
Earnings Per Share, Basic \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Earnings Per Share, Diluted \| (per share)	¥ (0.78)	$ (0.11)	¥ (1.35)	¥ (1.78)
Shares used in net loss per share computation:
Common Shares - basic	17,000,189	17,000,189	17,000,189	17,000,189
Common Shares - diluted	17,000,189	17,000,189	17,000,189	17,000,189

Other income (expenses) - Schedule of Other Nonoperating Income by Component (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Other income (expenses)
Government grants	¥ 10,361	$ 1,459	¥ 31,531	¥ 20,879
Disposal loss of long-term investment	(10,754)	(1,515)
Impairment of long-term investments (Note 8)	(8,505)	(1,198)	(6,726)	(25,370)
Credit losses for loans receivable	(6,660)	(938)	(705)	(528)
Income from ADR profit-sharing program	1,336	188	2,207	2,111
Others	592	84	11
Total	¥ (13,630)	$ (1,920)	¥ 26,318	¥ (2,908)

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Basis of presentation

The consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles of the United States (“U.S. GAAP”).

Principles of consolidation

Comparative Information

Certain financial information has been adjusted to conform with the current year’s presentation to facilitate comparison.

Use of estimates

Convenience translation

Foreign currency translation

Transactions in currencies other than the functional currency are remeasured and recorded in the functional currency at the exchange rate prevailing on the transaction date.

Cash and cash equivalents

Restricted cash

Accounts receivable, net

Loan receivable, net

loans receivable, net

Property and equipment, net

Computer equipment and servers		3 – 5 years

Office furniture and equipment		3 – 5 years

Leasehold improvements		over the shorter of lease terms or estimated useful lives of the assets

Intangible assets


Computer software, systems and technology		1 – 5 years

Brand		10 years

Customer relationship		5 years

Residual values are considered nil.

Impairment of long-lived assets other than goodwill

Goodwill

Impairment of goodwill

Business combinations

Consolidation of noncontrolling interests

Redeemable noncontrolling interests

Long-term investments

The Company’s long-term investments consist of equity method investments and equity investments without readily determinable fair value.

Equity investments without readily determinable fair value

Equity method investments

Value added taxes ("VAT")

Value added taxes (“VAT”)

Treasury shares

Revenue recognition

SAAS Businesses

SAAS Businesses (continued)

For certain arrangements, customers are required to pay the Company before the services are delivered. For other arrangements, the Company provides customers with a credit term under six months.

Other revenue recognition related policies

Customer deposits relate to customer’s unused balances that are refundable. Once this balance is utilized by the customer, the corresponding amount would be recognized as revenue.

Costs of revenues

Research and development

Advertising expenses

Government grants

Operating leases

The lease transfers ownership of the underlying asset to the lessee by the end of the lease term.

The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise.

The lease term is for a major part of the remaining economic life of the underlying asset.

The underlying asset is of such a specialized nature that it is expected to have no alternative use to the Company at the end of the lease term.

Employee defined contribution plan

Income taxes

Share-based compensation

Fair value measurements

ASC 820-10, Fair Value Measurements and Disclosures: Overall, establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets

Level 2 — Include other inputs that are directly or indirectly observable in the marketplace

Level 3 — Unobservable inputs which are supported by little or no market activity

Comprehensive loss

Loss per share

Concentration of risks

Concentration of credit risk

Financial assets that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and accounts receivable.

Concentration of suppliers

Approximately 46.4%, 50.2% and 27.8% of advertising costs were paid to three suppliers for the years ended December 31, 2021, 2022 and 2023, respectively.

Business and economic risk

Currency convertibility risk

Foreign currency exchange rate risk

Segment information

Recently issued accounting pronouncements and Adoption of ASU 2016-13

Recently issued accounting pronouncements

2	Summary of Significant Accounting Policies (continued)

Recently issued accounting pronouncements (continued)

Adoption of ASU 2016-13

Redeemable noncontrolling interests

12 Months Ended

Dec. 31, 2023

Redeemable noncontrolling interests

Redeemable noncontrolling interests

17	Redeemable noncontrolling interests

The fair value of the redeemable noncontrolling interests for SendCloud was determined using the income approach. The fair value estimate of redeemable noncontrolling interests is based on significant inputs considered by market participants which mainly include (a) discount rate, (b) projected terminal value based on future cash flows, (c) adjustment for lack of control and (d) value of redemption right held by the noncontrolling interest shareholders (the “NCI shareholders”). The redeemable noncontrolling interests represent the fair value of 47.63% equity held by the NCI shareholders.

The Company entered into a put option agreement with the NCI shareholders, with respect to SendCloud’s retained equity. Pursuant to the put option agreement, the NCI shareholders have the right to sell all of SendCloud’s retained equity to the Company within 90 days after SendCloud’s fiscal year ending December 31, 2024, if SendCloud has met each of the annual revenue and net income performance targets from 2022 to 2024.

As the noncontrolling interests are redeemable by such NCI shareholders upon the occurrence of certain events that are not solely within the control of the Company, it was classified as mezzanine equity and the Company recognized the redeemable noncontrolling interest at its fair value of RMB31,397 at the acquisition date.

In December 2023,the NCI shareholders of SendCloud and the Company executed a supplement agreement whereby the NCI shareholders relinquished their rights to put their retained equity back to the Company. As a result, the carrying value of the redeemable noncontrolling interests of RMB30,701 (US$4,324) were reclassified as noncontrolling interests within permanent equity.

The following table presents the activity of the redeemable noncontrolling interests balance for the years ended December 31, 2022 and 2023:


	2022	2023
	RMB	RMB	US$
Balance as of January 1	—	30,552	4,303
Initial fair value of redeemable noncontrolling interests	31,397	—	—
Net loss attributable to redeemable noncontrolling interests	(1,486)	(42)	(6)
Adjustment of redeemable noncontrolling interests to redemption value	641	191	27
Reclassification to permanent equity	—	(30,701)	(4,324)
Balance as of December 31	30,552	—	—

Share-based compensation - Summary of Restricted Share Units (Details) - Restricted Share Units ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 ¥ / shares
Share-based compensation
Number of Share Units, Outstanding, Beginning	199,963
Number of Share Units, Granted	1,016,031
Number of Share Units, Forfeited	57
Number of Share Units, Vested	199,875
Number of Share Units, Outstanding, Ending	1,016,062		199,963
Number of Share Units, Vested and expected to vest	1,016,062	1,016,062
Weighted-Average grant-date Fair Value per Restricted Share, Outstanding, Beginning \| ¥ / shares	¥ 9.81
Weighted-Average grant-date Fair Value per Restricted Share, Granted \| (per share)	1.74	$ 0.25	¥ 9.55	¥ 13.92
Weighted-Average grant-date Fair Value per Restricted Share, Forfeited \| ¥ / shares	10.10
Weighted-Average grant-date Fair Value per Restricted Share, Vested \| ¥ / shares	10.00
Weighted-Average grant-date Fair Value per Restricted Share, Outstanding, Ending \| ¥ / shares	1.71		¥ 9.81
Weighted-Average grant-date Fair Value per Restricted Share, Vested and expected to vest \| ¥ / shares	¥ 1.71	$ 1.71
Weighted Average Remaining Contractual Term (Years), Outstanding	9 years 8 months 4 days		9 years 9 months 18 days
Weighted Average Remaining Contractual Term (Years), Vested and expected to vest	9 years 8 months 4 days
Aggregate Intrinsic Value, Outstanding, Beginning \| ¥	¥ 1,337
Aggregate Intrinsic Value, Outstanding, Ending \| ¥	1,511		¥ 1,337
Aggregate Intrinsic Value, Vested and expected to vest \| ¥	¥ 1,511	$ 1,511

Short-term loan (Tables)

12 Months Ended

Dec. 31, 2023

Short-term loan

Schedule of short-term debt

Property and equipment, net

12 Months Ended

Dec. 31, 2023

Property and equipment, net

Property and equipment, net

5	Property and equipment, net

Property and equipment consist of the following:


	As of December 31,
	2022	2023
	RMB	RMB	US$
Computer equipment and servers	163,366	5,491	773
Office furniture and equipment	5,008	4,242	597
Leasehold improvements	4,313	4,211	593
Construction-in progress	85	85	13
Less: Accumulated depreciation and impairment	(157,825)	(12,596)	(1,774)
Total property and equipment, net	14,947	1,433	202

The Company recognized impairment charges on property and equipment of nil, RMB22,400 and nil for the years ended December 31, 2021, 2022 and 2023. The impairment of property and equipment was a result of the Company’s “Going-Cloud” project undertaken.

Depreciation expense recognized for the years ended December 31, 2021, 2022 and 2023 were RMB27,337, RMB24,362 and RMB5,301 (US$747), respectively.

Property and equipment, net - Schedule of property and equipment (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Property and equipment, net
Less: Accumulated depreciation and impairment	¥ (12,596)	$ (1,774)	¥ (157,825)
Total property and equipment, net	1,433	202	14,947
Computer Equipment and Servers
Property and equipment, net
Property and equipment, gross	5,491	773	163,366
Office Furniture and Equipment
Property and equipment, net
Property and equipment, gross	4,242	597	5,008
Leasehold improvements
Property and equipment, net
Property and equipment, gross	4,211	593	4,313
Construction-in progress
Property and equipment, net
Property and equipment, gross	¥ 85	$ 13	¥ 85

Organization and principal activities - Additional information (Details) ¥ in Thousands, $ in Thousands	Jul. 26, 2022	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Weidong Luo [Member]
Organization and principal activities
Variable Interest Entity, Ownership Percentage	80.00%
Guangyan Chen. [Member]
Organization and principal activities
Variable Interest Entity, Ownership Percentage	20.00%
Xiaodao Wang [Member]
Organization and principal activities
Variable Interest Entity, Ownership Percentage	10.00%
Jiawen Fang [Member]
Organization and principal activities
Variable Interest Entity, Ownership Percentage	10.00%
VIE
Organization and principal activities
Net liabilities		¥ 398,420	$ 56,116	¥ 357,970
Cash Collateral		¥ 0
Variable Interest Entity, Asset, Pledged Status [Extensible Enumeration]		us-gaap:AssetNotPledgedAsCollateralMember	us-gaap:AssetNotPledgedAsCollateralMember	us-gaap:AssetNotPledgedAsCollateralMember

Goodwill and Intangible assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible assets

Goodwill and Intangible assets

7	Goodwill and Intangible assets

The Company has recognized goodwill of RMB37,785 and RMB37,785 (US$5,322) as of December 31, 2022 and 2023, respectively, as part of the SendCloud business acquisition (see Note 9 for details). There were no impairment charges in the carrying amount of goodwill during the years ended December 31, 2022 and 2023.

7	Goodwill and Intangible assets (continued)

Intangible assets consist of the following:


	As of December 31,
	2022	2023
	RMB	RMB	US$
Computer software, systems and technology	14,123	14,340	2,020
Brand	10,300	10,300	1,451
Customer relationships	13,800	13,800	1,944
Less: Accumulated amortization	(14,276)	(20,499)	(2,888)
Total intangible assets, net	23,947	17,941	2,527

No impairment charges were recognized on intangible assets for the years ended December 31, 2021, 2022 and 2023, respectively.

The weighted average amortization period of intangible assets were 4.0 years, 6.0 years and 5.9 years for the years ended December 31, 2021, 2022 and 2023, respectively.

Amortization expense of intangible assets were RMB4,481, RMB6,043 and RMB6,223 (US$876) for the years ended December 31, 2021, 2022 and 2023, respectively.

Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows:


	RMB	US$
For the year ending December 31, 2024	4,528	638
2025	3,826	539
2026	3,806	536
2027	1,490	210
2028	1,030	145

There were no intangible assets with an indefinite useful life as of December 31, 2022 and 2023.

Organization and principal activities - Summary of results of operations and cash flows of VIE and subsidiaries (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 114,521	$ 16,130	¥ 116,128	$ 16,356	¥ 90,552	¥ 356,115
Restricted cash	486	68	132
Prepayments and other current assets	20,225	2,849	30,401
Total current assets	169,576	23,884	176,643
Non-current assets:
Property and equipment, net	1,433	202	14,947
Operating lease right-of-use assets	4,081	575	33,756
Intangible assets, net	17,941	2,527	23,947
Goodwill	37,785	5,322	37,785
Long-term investments	112,912	15,903	141,901
Deferred tax assets	1,072	151
Other non-current assets	5,387	759	4,128
Total non-current assets	180,611	25,439	256,464
Total assets	350,187	49,323	433,107
Current liabilities:
Short Term Loan			5,000
Accounts payable	21,073	2,968	18,169
Deferred revenue and customer deposits	82,799	11,662	88,478
Operating lease liabilities	4,007	564	18,133
Accrued liabilities and other current liabilities	74,682	10,519	75,333
Total current liabilities	241,280	33,983	255,439
Non-current liabilities:
Deferred revenue			3,585
Operating lease liabilities	629	89	6,959
Deferred tax liabilities	3,994	563	4,824
Other non-current liabilities	563	79	4,058
Total non-current liabilities	5,186	731	19,426
Total liabilities	246,466	34,714	274,865
Related Party
Current assets:
Amounts due from related parties			255
VIE
Current assets:
Cash and cash equivalents	82,860	11,671	64,719
Restricted cash	132	19	132
Accounts and notes receivable, net	34,046	4,795	29,369
Prepayments and other current assets	16,457	2,318	21,656
Amounts due from the Company and its subsidiaries	214,042	30,147	236,093
Amounts due from related parties			255
Total current assets	347,537	48,950	352,224
Non-current assets:
Property and equipment, net	1,373	193	12,375
Operating lease right-of-use assets	4,081	575	31,336
Intangible assets, net	17,941	2,527	23,947
Goodwill	37,785	5,322	37,785
Long-term investments	79,031	11,131	103,144
Deferred tax assets	1,072	151
Other non-current assets	332	47	3,609
Total non-current assets	141,615	19,946	212,196
Total assets	489,152	68,896	564,420
Current liabilities:
Short Term Loan	0		5,000
Accounts payable	16,644	2,344	15,325
Deferred revenue and customer deposits	125,767	17,714	132,195
Operating lease liabilities	4,007	564	16,491
Accrued liabilities and other current liabilities	64,967	9,150	73,779
Amounts due to the Company and its subsidiaries	671,001	94,509	406,569
Total current liabilities	882,386	124,281	649,359
Non-current liabilities:
Amounts due to the Company and its subsidiaries.			257,000
Deferred revenue	0		3,585
Operating lease liabilities	629	89	5,546
Deferred tax liabilities	3,994	563	4,824
Other non-current liabilities	563	79	2,076
Total non-current liabilities	5,186	731	273,031
Total liabilities	¥ 887,572	$ 125,012	¥ 922,390

Condensed financial information of the parent company - Condensed Balance Sheets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 114,521	$ 16,130	¥ 116,128	$ 16,356	¥ 90,552	¥ 356,115
Restricted Cash	486	68	132	$ 19	¥ 164,030	¥ 115
Prepayments and other current assets	20,225	2,849	30,401
Total current assets	169,576	23,884	176,643
Non-current assets:
Long-term investments	112,912	15,903	141,901
Other non-current assets	5,387	759	4,128
Total non-current assets	180,611	25,439	256,464
Total assets	350,187	49,323	433,107
Current liabilities:
Short-term bank borrowings			5,000
Total current liabilities	241,280	33,983	255,439
Non-current liabilities:
Deferred revenue			3,585
Total non-current liabilities	5,186	731	19,426
Total liabilities	246,466	34,714	274,865
Shareholders' equity
Treasury shares (182,313 and 1,429,341 class A common shares as of December 31, 2022 and 2023, respectively)	(2,453)	(345)	(1,689)
Accumulated deficit	(988,669)	(139,251)	(925,982)
Accumulated other comprehensive income	19,223	2,708	18,304
Total shareholders' equity	73,548	10,359	127,690
Total liabilities and shareholders' equity	350,187	49,323	433,107
Related Party [Member]
Current assets:
Due from the entities within the Group			255
Parent Company
Current assets:
Cash and cash equivalents	3,328	469	33,871
Due from the entities within the Group	8,273	1,165	7,655
Prepayments and other current assets	7,048	993	20,331
Non-current assets:
Long-term investments	296,579	41,772	334,988
Other non-current assets	5,055	712
Total non-current assets	301,634	42,484	334,988
Total assets	320,283	45,111	396,845
Current liabilities:
Accrued liabilities and other current liabilities	2,159	304	3,850
Due to the entities within the Group	244,576	34,448	265,305
Total current liabilities	246,735	34,752	269,155
Non-current liabilities:
Total liabilities	246,735	34,752	269,155
Shareholders' equity
Treasury shares (182,313 and 1,429,341 class A common shares as of December 31, 2022 and 2023, respectively)	(2,453)	(345)	(1,689)
Additional Paid in Capital	1,045,397	147,240	1,037,007
Accumulated deficit	(988,669)	(139,251)	(925,982)
Accumulated other comprehensive income	19,223	2,708	18,304
Total shareholders' equity	73,548	10,359	127,690
Total liabilities and shareholders' equity	320,283	45,111	396,845
Parent Company \| Affiliated Entity [Member]
Current assets:
Total current assets	18,649	2,627	61,857
Class A Common Shares
Shareholders' equity
Common shares	39	5	39
Class A Common Shares \| Parent Company
Shareholders' equity
Common shares	39	5	39
Class B Common Shares
Shareholders' equity
Common shares	11	2	11
Class B Common Shares \| Parent Company
Shareholders' equity
Common shares	¥ 11	$ 2	¥ 11

Short-term loan - Additional Information (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Oct. 31, 2023 CNY (¥)	Oct. 31, 2022 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Short-term loan
Short-term bank borrowings					¥ 5,000
Repayments of short term debt	¥ 5,000		¥ 5,000	$ 704	¥ 188,000
Shenzhen Zhongxiaodan Micro Credit Co Ltd
Short-term loan
Short-term bank borrowings		¥ 5,000
Fixed interest rate		4.90%
Loan term (in years)		1 year

Accounts receivable, net - Schedule of movement in allowance for credit losses (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Accounts receivable, net
Balance at beginning of year	¥ 5,142	$ 724	¥ 37,690
Adoption of ASC 326	589	83
Provisions	636	90	2,089
Write-offs	(1,036)	(146)	(34,637)
Balance at end of year	¥ 5,331	$ 751	¥ 5,142

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2023 shares
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38587
Entity Registrant Name	Aurora Mobile Limited
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	14/F, China Certification and Inspection Building
Entity Address, Address Line Two	No. 6, Keji South 12th Road
Entity Address, City or Town	Nanshan District
Entity Address, Postal Zip Code	518057
Entity Address, Country	CN
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Entity Central Index Key	0001737339
Auditor Name	Ernst & Young Hua Ming LLP
Auditor Location	Shenzhen, The People’s Republic of China
Auditor Firm ID	1408
Business Contact [Member]
Document and Entity Information
Entity Address, Address Line One	14/F, China Certification and Inspection Building
Entity Address, Address Line Two	No. 6, Keji South 12th Road
Entity Address, City or Town	Nanshan District
Entity Address, Postal Zip Code	518057
Entity Address, Country	CN
Contact Personnel Name	Shan-Nen Bong
Local Phone Number	755-8388-1462
Contact Personnel Email Address	bongsn@jiguang.cn
City Area Code	86
American Depositary Shares
Document and Entity Information
Title of 12(b) Security	American depositary shares, every 3 of which represent 40 Class A common shares
Trading Symbol	JG
Security Exchange Name	NASDAQ
Class A Common Shares
Document and Entity Information
Title of 12(b) Security	Class A common shares, par value US$0.0001 per share*
No Trading Symbol Flag	true
Entity Common Stock, Shares Outstanding	61,831,753
Class B Common Shares
Document and Entity Information
Entity Common Stock, Shares Outstanding	17,000,189

Restricted net assets

12 Months Ended

Dec. 31, 2023

Restricted net assets

Restricted net assets

22	Restricted net assets

The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the VIE incorporated in PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The consolidated results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries, the VIE and the subsidiaries of the VIE.

Under PRC law, the Company’s subsidiary, the VIE, and the subsidiaries of the VIE located in the PRC (collectively referred as the “PRC entities”) are required to provide for certain statutory reserves, namely a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. The PRC entities are required to allocate at least 10% of their after tax profits on an individual company basis as determined under PRC accounting standards to the statutory reserve and has the right to discontinue allocations to the statutory reserve if such reserve has reached 50% of registered capital on an individual company basis. In addition, the registered capital of the PRC entities is also restricted.

Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the Board of Directors of the subsidiary. The PRC entities are also subject to similar statutory reserve requirements. These reserves can only be used for specific purposes and are not transferable to the Company in the form of loans, advances or cash dividends.

Amounts of net assets restricted include the paid-in capital and statutory reserve of the Company’s PRC subsidiary and the net assets of the VIE in which the Company has no legal ownership, totaling RMB457,721 (US$64,469) as of December 31, 2023.

Long-term investments

12 Months Ended

Dec. 31, 2023

Long-term investments

Long-term investments

8Long-term investments

Equity investments without readily determinable fair value

As of December 31, 2022, the carrying amount of the Company’s equity investments was RMB141,901.

As of December 31, 2023, the carrying amount of the Company’s equity investments was RMB112,912 (US$15,903).

In 2023, the Company disposed of its 2.5698% equity ownership of a non-listed company for a total consideration of RMB10,279 (US$1,448) and recognized a disposal loss of RMB10,754 (US$1,515), after which the Company no longer held the non-listed company’s equity ownership.

Impairment charges recognized on equity investments without readily determinable fair value was RMB25,370, RMB6,726 and RMB8,505 (US$1,198) for the years ended December 31, 2021, 2022 and 2023.

Equity method investments

In 2023, the Company acquired a 15% of equity interest in a non-listed company and has significant influence as it holds one seat out of the five board seats of the equity investee. The Company recognized its share of losses in the investee of RMB450 (US$63) for the year ended December 31, 2023 and the carrying amount of the equity method investment was nil as of December 31, 2023.

Deferred revenue and customer deposits (Tables)

12 Months Ended

Dec. 31, 2023

Deferred revenue and customer deposits

Schedule of deferred revenue by arrangement


	As of December 31,
	2022	2023
	RMB	RMB	US$
Deferred revenue	88,478	82,799	11,662
Customer deposits	50,326	58,719	8,270
Total deferred revenue and customer deposits – current	138,804	141,518	19,932
Deferred revenue - non-current	3,585	—	—

Goodwill and Intangible assets - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)	Mar. 08, 2022 CNY (¥)
Goodwill and Intangible assets
Goodwill	¥ 37,785		¥ 37,785		$ 5,322
Impairment charge of goodwill	0		0
Impairment charges recognized on intangible assets	0		0	¥ 0
Amortization of intangible assets	6,223	$ 876	6,043	¥ 4,481
Intangible assets with an indefinite useful life	¥ 0		¥ 0
Weighted average useful life of intangible assets	5 years 10 months 24 days	5 years 10 months 24 days	6 years	4 years
Send Cloud
Goodwill and Intangible assets
Goodwill	¥ 37,785		¥ 37,785		$ 5,322	¥ 37,785

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Summary of Significant Accounting Policies - Schedule of Finite Lived Intangible Assets Estimated Economic Lives (Details)	Dec. 31, 2023
Brand
Summary of Significant Accounting Policies
Intangible assets	10 years
Customer relationships
Summary of Significant Accounting Policies
Intangible assets	5 years
Minimum \| Computer software, systems and technology
Summary of Significant Accounting Policies
Intangible assets	1 year
Maximum \| Computer software, systems and technology
Summary of Significant Accounting Policies
Intangible assets	5 years

Accounts receivable, net

12 Months Ended

Dec. 31, 2023

Accounts receivable, net

Accounts receivable, net

3	Accounts receivable, net


	As of December 31,
	2022	2023
	RMB	RMB	US$
Accounts receivable	34,869	39,675	5,588
Less: allowance for credit losses	(5,142)	(5,331)	(751)
Total accounts receivable, net	29,727	34,344	4,837

The following table presents the movement in the allowance for credit losses:


	2022	2023
	RMB	RMB	US$
Balance at beginning of year	37,690	5,142	724
Adoption of ASC 326	—	589	83
Provisions	2,089	636	90
Write-offs	(34,637)	(1,036)	(146)
Balance at end of year	5,142	5,331	751

Share-based compensation - Additional Information (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands			1 Months Ended		12 Months Ended
	Mar. 01, 2017 shares	Jul. 23, 2014 shares	Sep. 30, 2023 shares	Dec. 31, 2021 shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 CNY (¥) ¥ / shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) shares
Share-based compensation
The aggregate fair value of options and restricted share units vested and recognized as expenses					¥ 11,574	$ 1,630	¥ 15,515	¥ 30,212
Weighted average grant-date fair value share options granted \| ¥ / shares					¥ 3.23
Total intrinsic value of options and restricted share units exercised/vested					¥ 2,976	$ 419	¥ 7,821	¥ 24,640
Share Options
Share-based compensation
Unrecognized share-based compensation expense					¥ 3,498				$ 493
Unrecognized share-based compensation expense estimated weighted-average period					1 year 3 months 21 days	1 year 3 months 21 days
Weighted average grant-date fair value share options granted \| (per share)					¥ 3.23	$ 0.45	¥ 6.41	¥ 24.61
Restricted Share Units
Share-based compensation
Unrecognized share-based compensation expense estimated weighted-average period					8 months 4 days	8 months 4 days
Unrecognized share-based compensation cost					¥ 1,149				$ 162
2014 Incentive Plan
Share-based compensation
Common shares reserved for issuance		5,500,000
Share available for grant					38,413				38,413
2014 Incentive Plan \| Maximum
Share-based compensation
Awards vesting period		4 years
Awards expiration period		10 years
2017 Incentive Plan
Share-based compensation
Common shares reserved for issuance	6,015,137
Share available for grant					127,547				127,547
2017 Incentive Plan \| Maximum
Share-based compensation
Awards vesting period	4 years
Awards expiration period	10 years
2021 incentive plan
Share-based compensation
Common shares reserved for issuance				4,000,000				4,000,000
Share available for grant					239,853				239,853
2021 incentive plan \| Maximum
Share-based compensation
Awards vesting period				4 years
Awards expiration period				10 years
2023 incentive plan
Share-based compensation
Awards vesting period			4 years
Awards expiration period			10 years
Common shares reserved for issuance			4,000,000
Share available for grant					3,276,827				3,276,827

Redeemable noncontrolling interests - Summary of Redeemable noncontrolling Interests Balance (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Redeemable noncontrolling interests
Balance as of January 1	¥ 30,552	$ 4,303	¥ 0
Initial fair value of redeemable noncontrolling interests			31,397
Net loss attributable to redeemable noncontrolling interest	(42)	(6)	(1,486)
Adjustment of redeemable noncontrolling interests to redemption value	191	27	641
Reclassification to permanent equity	¥ (30,701)	$ (4,324)
Balance as of December 31			¥ 30,552

Deferred revenue and customer deposits (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Deferred revenue and customer deposits
Deferred revenue	¥ 82,799	$ 11,662	¥ 88,478
Customer deposits	58,719	8,270	50,326
Total deferred revenue and customer deposits - current	¥ 141,518	$ 19,932	138,804
Deferred revenue - non-current			¥ 3,585

Accrued liabilities and other current liabilities

12 Months Ended

Dec. 31, 2023

Accrued liabilities and other current liabilities

Accrued liabilities and other current liabilities

12	Accrued liabilities and other current liabilities

Accrued liabilities and other current liabilities consist of the following:


		As of December 31,
		2022	2023
		RMB	RMB	US$
Accrued payroll and welfare payables		41,616	32,753	4,613
Payable for business acquisition	(i)	16,788	16,788	2,365
Other taxes and surcharges		8,005	12,041	1,696
Service fees		4,483	7,449	1,049
Government grants		1,000	2,628	370
Others		3,441	3,023	426
Total accrued liabilities and other current liabilities		75,333	74,682	10,519

(i)

The balance represents the remaining unpaid cash consideration of RMB16,788 from the acquisition of SendCloud (see Note 9 for details).

Income taxes - Summary of Composition of Income Tax Expense (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Income taxes
Current income tax expense	¥ (3)		¥ (26)	¥ (32)
Deferred tax benefit	1,889	$ 266	481
Total income tax (expense)/ benefit	¥ 1,886	$ 266	¥ 455	¥ (32)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Business combination (Details) ¥ in Thousands, $ in Thousands	Mar. 08, 2022 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Business combination
Goodwill		¥ 37,785	$ 5,322	¥ 37,785
Send Cloud
Business combination
Purchase consideration	¥ 34,473
Fair value of redeemable noncontrolling interests	31,397
Cash and cash equivalents	17,744
Other current and noncurrent assets	1,025
Deferred revenue	(6,529)
Deferred tax liabilities	(5,330)
Other current liabilities	(2,925)
Goodwill	37,785	¥ 37,785	$ 5,322	¥ 37,785
Send Cloud \| Customer relationships
Business combination
Intangibles assets and liabilities	13,800
Send Cloud \| Brand
Business combination
Intangibles assets and liabilities	¥ 10,300

Income taxes - Summary of Deferred Tax Assets and Liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Deferred tax assets
Provision for credit losses	¥ 5,463	$ 769	¥ 12,127
Share of loss from equity method investments	113	16
Accrued expenses	7,907	1,114	12,411
Net operating loss carry forward	320,122	45,089	282,098
Government grants related to assets	3		2,113
Property and equipment depreciation	20	3
Estimated liabilities			426
Lease liabilities	817	115	3,533
Less: Valuation allowance	(324,243)	(45,669)	(295,401)
Total deferred tax assets	10,202	1,437	17,307
Deferred tax liabilities
Property and equipment depreciation	(19)	(3)	(1,636)
Net unrealized gain on equity investments held			(4,332)
Operating lease right-of-use assets	(678)	(95)	(3,049)
Intangible assets arising from acquisition	(4,288)	(604)	(4,856)
Loan interest income	(8,139)	(1,147)	(8,258)
Total deferred tax liabilities	(13,124)	(1,849)	(22,131)
Net deferred tax assets	1,072	151
Net deferred tax liabilities	¥ (3,994)	$ (563)	¥ (4,824)

Related party transactions - Schedule of Amount Due From Related Party (Details) - Related Party ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Related party transactions
Amounts due from related parties	¥ 255
Guangzhou Tianlang Network Technology Co Ltd
Related party transactions
Amounts due from related parties	¥ 255

Deferred revenue and customer deposits

12 Months Ended

Dec. 31, 2023

Deferred revenue and customer deposits

Deferred revenue and customer deposits

11	Deferred revenue and customer deposits

Deferred revenue and customer deposits consist of the following:


	As of December 31,
	2022	2023
	RMB	RMB	US$
Deferred revenue	88,478	82,799	11,662
Customer deposits	50,326	58,719	8,270
Total deferred revenue and customer deposits – current	138,804	141,518	19,932
Deferred revenue - non-current	3,585	—	—

Share-based compensation - Summary of Share Option Activity (Details) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based compensation
Number of Options, Outstanding, Beginning Balance	8,876,466
Number of Options, Granted	2,105,026
Number of Options, Forfeited	298,790
Number of Options, Exercised	605,577
Number of Options, Outstanding, Ending Balance	10,077,125	8,876,466
Number of Options, Vested and expected to vest	10,077,125
Number of Options, Vested	8,906,335,000
Weighted-Average Exercise Price, Outstanding, Beginning Balance	¥ 8.11
Weighted-Average Exercise Price, Granted	2.80
Weighted-Average Exercise Price, Forfeited	1.98
Weighted-Average Exercise Price, Exercised	0.09
Weighted-Average Exercise Price, Outstanding, Ending Balance	7.66	¥ 8.11
Weighted-Average Exercise Price, Vested and expected to vest	7.66
Weighted-Average Exercise Price, Vested	8.75
Weighted- Average grant-date Fair Value per Option, Outstanding, Beginning Balance	15.06
Weighted- Average grant-date Fair Value per Option, Granted	3.23
Weighted- Average grant-date Fair Value per Option, Forfeited	11.31
Weighted- Average grant-date Fair Value per Option, Exercised	27.89
Weighted- Average grant-date Fair Value per Option, Outstanding, Ending Balance	11.93	¥ 15.06
Weighted- Average grant-date Fair Value per Option, Vested and expected to vest	11.93
Weighted- Average grant-date Fair Value per Option, Vested	¥ 12.54
Weighted Average Remaining Contractual Term (Years), Outstanding	5 years 11 months 12 days	6 years 2 months 23 days
Weighted Average Remaining Contractual Term (Years), Vested and expected to vest	5 years 11 months 12 days
Weighted Average Remaining Contractual Term (Years), Vested	5 years 8 months 1 day
Aggregate Intrinsic Value, Outstanding	¥ 6,302	¥ 31,347
Aggregate Intrinsic Value, Vested and expected to vest	6,302
Aggregate Intrinsic Value, Vested	¥ 4,733

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 $ / shares
Accounts receivable, net of allowances	¥ 5,331	$ 751	¥ 5,142
Short-term bank borrowings \| ¥			5,000
Accounts payable	21,073	2,968	18,169
Deferred revenue	82,799	11,662	88,478
Current Operating lease liabilities	4,007	564	18,133
Accrued liabilities and other current liabilities	74,682	10,519	75,333
Deferred revenue \| ¥			3,585
Non-current operating lease liabilities	629	89	6,959
Deferred tax liabilities	3,994	563	4,824
Other non-current liabilities	¥ 563	$ 79	¥ 4,058
Class A Common Shares
Common shares, par value per share \| $ / shares		$ 0.0001		$ 0.0001
Common shares, shares authorized	4,920,000,000	4,920,000,000	4,920,000,000
Common shares, shares issued	61,831,753	61,831,753	62,731,971
Common shares, shares outstanding	61,831,753	61,831,753	62,731,971
Treasury stock, common, shares	1,429,341	1,429,341	182,313
Class B Common Shares
Common shares, par value per share \| $ / shares		$ 0.0001		$ 0.0001
Common shares, shares authorized	30,000,000	30,000,000	30,000,000
Common shares, shares issued	17,000,189	17,000,189	17,000,189
Common shares, shares outstanding	17,000,189	17,000,189	17,000,189
VIE
Short-term bank borrowings \| ¥	¥ 0		¥ 5,000
Accounts payable	16,644	$ 2,344	15,325
Deferred revenue	125,767	17,714	132,195
Current Operating lease liabilities	4,007	564	16,491
Accrued liabilities and other current liabilities	64,967	9,150	73,779
Deferred revenue \| ¥	0		3,585
Non-current operating lease liabilities	629	89	5,546
Deferred tax liabilities	3,994	563	4,824
Other non-current liabilities	¥ 563	$ 79	¥ 2,076

Short-term loan (Details) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Short-term loan
Short-term bank borrowings	¥ 5,000

Long-term investments (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)
Long-term investments
Carrying amount of equity investments	¥ 112,912		¥ 141,901		$ 15,903
Equity ownership	2.5698%	2.5698%
Proceeds from disposal of long-term investments	¥ 10,279	$ 1,448	585
Disposal loss	(10,754)	(1,515)
Impairment charges recognized on equity investments without readily determinable fair value	8,505	1,198	¥ 6,726	¥ 25,370
Share of loss from equity method investment	¥ (450)	(63)
Non listed company
Long-term investments
Equity ownership percentage	15.00%				15.00%
Representation of the board seats	0.20%				0.20%
Carrying amount of equity method investments	¥ 0
Share of loss from equity method investment	¥ 450	$ 63

Accrued liabilities and other current liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Accrued liabilities and other current liabilities
Accrued payroll and welfare payables	¥ 32,753	$ 4,613	¥ 41,616
Payable for business acquisition	16,788	2,365	16,788
Other taxes and surcharges	12,041	1,696	8,005
Service fees	7,449	1,049	4,483
Government grants	2,628	370	1,000
Others	3,023	426	3,441
Total accrued liabilities and other current liabilities	¥ 74,682	$ 10,519	¥ 75,333

Condensed financial information of the parent company

12 Months Ended

Dec. 31, 2023

Condensed financial information of the parent company

Condensed financial information of the parent company

23	Condensed financial information of the parent company

Basis of presentation

For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries and the VIE under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Long-term investments” and the subsidiaries’ and VIE’s losses as “Share of losses of the subsidiaries and VIE” on the condensed statements of comprehensive loss.

The subsidiaries did not pay any dividends to the Company for the periods presented.

The Company does not have significant commitments or long-term obligations as of the period end other than those presented.

The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.

23	Condensed financial information of the parent company (continued)

Condensed Balance Sheets


	As of December 31
	2022	2023
	RMB	RMB	US$
ASSETS:
Current assets:
Cash and cash equivalents	33,871	3,328	469
Due from the entities within the Group	7,655	8,273	1,165
Prepayments and other current assets	20,331	7,048	993
Total current assets	61,857	18,649	2,627
Non-current assets:
Long-term investments	334,988	296,579	41,772
Other non-current assets	—	5,055	712
Total non-current assets	334,988	301,634	42,484
Total assets	396,845	320,283	45,111
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued liabilities and other current liabilities	3,850	2,159	304
Due to the entities within the Group	265,305	244,576	34,448
Total current liabilities	269,155	246,735	34,752
Total liabilities	269,155	246,735	34,752
Shareholders’ equity
Class A common shares (par value of US$0.0001 per share as of December 31, 2022 and 2023; 4,920,000,000 shares authorized as of December 31, 2022 and 2023, 62,731,971 shares and 61,831,753 shares issued and outstanding as of December 31, 2022 and 2023, respectively)	39	39	5
Class B common shares (par value of US$0.0001 per share as of December 31, 2022 and 2023; 30,000,000 shares authorized as of December 31, 2022 and 2023, 17,000,189 shares and 17,000,189 shares issued and outstanding as of December 31, 2022 and 2023)	11	11	2
Treasury shares (182,313 and 1,429,341 class A common shares as of December 31, 2022 and 2023, respectively)	(1,689)	(2,453)	(345)
Additional paid-in capital	1,037,007	1,045,397	147,240
Accumulated deficit	(925,982)	(988,669)	(139,251)
Accumulated other comprehensive income	18,304	19,223	2,708
Total shareholders’ equity	127,690	73,548	10,359
Total liabilities and shareholders’ equity	396,845	320,283	45,111

23	Condensed financial information of the parent company (continued)

Condensed Statements of Comprehensive Loss


	Years ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Revenues	—	—	—	—
Cost of revenues	—	—	—	—
Gross profit	—	—	—	—
Operating expenses
Research and development	—	—	—	—
Sales and marketing	(553)	(272)	(517)	(73)
General and administrative	(17,785)	(12,443)	(11,430)	(1,610)
Share of losses of the subsidiaries and VIE	(117,029)	(85,448)	(45,933)	(6,470)
Total operating expenses	(135,367)	(98,163)	(57,880)	(8,153)
Loss from operations	(135,367)	(98,163)	(57,880)	(8,153)
Foreign exchange loss, net	(3,351)	(2,467)	(61)	(9)
Interest income	363	43	34	5
Interest expense	(7,820)	(1,985)	—	—
Other loss	(469)	(5,230)	(4,191)	(590)
Change in fair value of foreign currency swap contract	6,060	838	—	—
Loss before income taxes	(140,584)	(106,964)	(62,098)	(8,747)
Income tax expenses	—	—	—	—
Net loss	(140,584)	(106,964)	(62,098)	(8,747)


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Net loss attributable to common share holders	(140,584)	(106,964)	(62,098)	(8,747)
Other comprehensive income
Foreign currency translation adjustments	1,638	5,853	919	129
Total other comprehensive income, net of tax	1,638	5,853	919	129
Comprehensive loss	(138,946)	(101,111)	(61,179)	(8,618)

Condensed Statements of Cash Flows


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Net cash (used in)/ provided by operating activities	(24,383)	195,530	(23,234)	(3,272)
Net cash used in investing activities	(4,859)	(2,690)	—	—
Net cash used in financing activities	(54,520)	(153,040)	(3,651)	(514)
Effect of exchange rate changes	4,361	(18,651)	(3,658)	(516)
Net (decrease)/ increase in cash and cash equivalents and restricted cash	(79,401)	21,149	(30,543)	(4,302)
Cash and cash equivalents and restricted cash at the beginning of year	92,123	12,722	33,871	4,771
Cash and cash equivalents and restricted cash at the end of year	12,722	33,871	3,328	469

Goodwill and Intangible assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible assets

Schedule of intangible assets


	As of December 31,
	2022	2023
	RMB	RMB	US$
Computer software, systems and technology	14,123	14,340	2,020
Brand	10,300	10,300	1,451
Customer relationships	13,800	13,800	1,944
Less: Accumulated amortization	(14,276)	(20,499)	(2,888)
Total intangible assets, net	23,947	17,941	2,527

Schedule of estimated amortization expense related to the existing intangible assets


	RMB	US$
For the year ending December 31, 2024	4,528	638
2025	3,826	539
2026	3,806	536
2027	1,490	210
2028	1,030	145

Share-based compensation

12 Months Ended

Dec. 31, 2023

Share-based compensation

Share-based compensation

13	Share-based compensation

Share option and restricted share unit plans

2014 Incentive Plan

On July 23 2014, the Company’s board of directors and shareholders approved the 2014 Incentive Plan (the “2014 Plan”). Awards under the 2014 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 5,500,000 common shares for issuance under the 2014 Plan. As of December 31, 2023, 38,413 shares remain available for grant under the 2014 Plan.

13	Share-based compensation (continued)

Share option and restricted share unit plans (continued)

2017 Incentive Plan

On March 1, 2017, the Company’s board of directors and shareholders approved the 2017 Incentive Plan (the “2017 Plan”). Awards under the 2017 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 6,015,137 common shares for issuance under the 2017 Plan. As of December 31, 2023, 127,547 shares remain available of grant under the 2017 Plan.

2021 Incentive Plan

In December 2021, the Company’s board of directors and shareholders approved the 2021 Incentive Plan (the “2021 Plan”). Awards under the 2021 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 4,000,000 common shares for issuance under the 2021 Plan. As of December 31, 2023, 239,853 shares remain available of grant under the 2021 Plan.

2023 Incentive Plan

In September 2023, the Company’s board of directors and shareholders approved the 2023 Incentive Plan (the “2023 Plan”). Awards under the 2023 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 4,000,000 common shares for issuance under the 2023 Plan. As of December 31, 2023, 3,276,827 shares remain available of grant under the 2023 Plan.

The exercise price, vesting and other conditions of individual awards are determined by the board of directors or any of the committees appointed by the board of directors to administer the 2014, 2017, 2021 and 2023 Incentive Plans. Upon the termination of the Grantee’s continuous service, the Company has the right to repurchase the vested award or shares obtained.

Share options

The following table summarizes the share option activity for the Company’s Incentive Plans for the year ended December 31, 2023:


				Weighted
			Weighted-	Average
		Weighted-	Average	Remaining
		Average	grant-date	Contractual	Aggregate
	Number of	Exercise	Fair Value	Term	Intrinsic
Options Granted to Employees and Directors	Options	Price	per Option	(Years)	Value
		RMB	RMB		RMB
Outstanding, December 31, 2022	8,876,466	8.11	15.06	6.23	31,347
Granted	2,105,026	2.80	3.23	—	—
Forfeited	298,790	1.98	11.31	—	—
Expired	—	—	—	—	—
Exercised	605,577	0.09	27.89	—	—
Cancelled	—	—	—	—	—
Outstanding, December 31, 2023	10,077,125	7.66	11.93	5.95	6,302
Vested and expected to vest as of December 31, 2023	10,077,125	7.66	11.93	5.95	6,302
Vested as of December 31, 2023	8,906,335	8.75	12.54	5.67	4,733

13	Share-based compensation (continued)

Share options (continued)

The aggregate intrinsic value in the table above represents the difference between the closing stock price on the last trading day in 2022 and 2023 and the option’s respective exercise price.

The weighted average grant date fair value of the share options granted during the years ended December 31, 2021, 2022 and 2023 were RMB24.61, RMB6.41 and RMB3.23 (US$0.45), respectively.

The aggregate unrecognized share-based compensation expense was RMB3,498 (US$493) as of December 31, 2023, which the Company expects to recognize over an estimated weighted-average period of 1.31 years.

The Company estimates the fair value of each award on grant date using the binomial option pricing model. The binominal model requires the input of highly subjective assumptions, including the expected share price volatility and the suboptimal early exercise factor. For expected volatility, the Company has made reference to historical volatilities of several comparable companies. The suboptimal early exercise factor was estimated based on the Company’s expectation of exercise behavior of the grantees. The risk-free rate for periods within the contractual life of the options is based on the market yield of U.S. Treasury Bonds in effect at the time of grant. Subsequent to the IPO, fair value of the common shares is the price of the Company’s publicly traded shares. The Company’s management is ultimately responsible for the determination of the estimated fair value of its ordinary shares.

The Company recognizes share-based compensation expense using the accelerated recognition method over the requisite service period, which is generally subject to graded vesting.

The following table presents assumptions used to estimate the fair values of share options granted for the years ended December 31, 2021, 2022 and 2023:


	2021	2022	2023
Risk-free interest rate	0.94% - 1.70%	1.87%-3.75%	3.45%
Dividend yield	0%	0%	0%
Expected volatility	47.45% - 56.62%	55.99%-56.79%	56.55%
Weighted average expected volatility	50.26%	56.15%	56.55%
Expected exercise multiple	2.2 - 2.8	2.2-2.8	2.5

(i)	Risk-free interest rate – The risk-free interest rate for periods within the contractual life of the options is based on the US Treasury yield curve in effect at the time of the grant for a term consistent with the contractual term of the awards.

(ii)	Dividend yield – The dividend yield is estimated based on the Company’s expected dividend policy over the expected term of the options.

(iii)

Expected volatility – Expected volatility is estimated based on the historical volatility of common shares of several comparable publicly-traded companies in the same industry.

(iv)	Expected exercise multiple – Expected exercise multiple is estimated based on changes in expected intrinsic value of the option and the likelihood of early exercise by employees.

13	Share-based compensation (continued)

Restricted share units

Starting from 2018, the Company granted restricted Class A common shares of the Company (“Restricted Shares”).

A summary of the restricted share units for the year ended December 31, 2023 was stated below:


		Weighted-	Weighted
		Average	Average
		grant-date	Remaining
	Number of	Fair Value	Contractual	Aggregate
	Share	per Restricted	Term	Intrinsic
Restricted Share Units Granted to Employees and Directors	Units	Share Unit	(Years)	Value
		RMB		RMB
Outstanding, December 31, 2022	199,963	9.81	9.80	1,337
Granted	1,016,031	1.74	—	—
Forfeited	57	10.10	—	—
Expired	—	—	—	—
Vested	199,875	10.00	—	—
Cancelled	—	—	—	—
Outstanding, December 31, 2023	1,016,062	1.71	9.68	1,511
Vested and expected to vest as of December 31, 2023	1,016,062	1.71	9.68	1,511

The weighted average grant-date fair value per restricted share unit granted for the years ended December 31, 2021, 2022 and 2023 were RMB13.92, RMB9.55 and RMB1.74 (US$0.25), respectively.

As of December 31, 2023, there was RMB1,149 (US$162) of unrecognized share-based compensation cost related to restricted shares units, which the Company expects to recognize over an estimated weighted-average period of 0.68 year.

The aggregate fair value of options and restricted share units vested and recognized as expenses for the years ended December 31, 2021, 2022 and 2023 were RMB30,212, RMB15,515 and RMB11,574 (US$1,630), respectively.

Total intrinsic value of options and restricted share units exercised/vested for the years ended December 31, 2021, 2022 and 2023 were RMB24,640, RMB7,821 and RMB2,976 (US$419), respectively.

Total compensation costs recognized for the years ended December 31, 2021, 2022 and 2023 were as follows:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Cost of revenue	41	2	3	—
Research and development	13,801	368	2,764	389
Sales and marketing	2,609	1,188	850	120
General and administrative	13,761	13,957	7,957	1,121
Total	30,212	15,515	11,574	1,630

Condensed financial information of the parent company - Condensed Statements of Cash Flows (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Condensed Statements of Cash Flows
Net cash provided by/(used in) operating activities	¥ (17,907)	$ (2,523)	¥ (17,476)	¥ (76,650)
Net cash used in investing activities	25,126	3,539	26,853	26,442
Net cash provided by/ (used in) financing activities	(8,651)	(1,218)	(148,040)	(54,520)
Effect of exchange rate changes	179	25	341	3,080
Net decrease in cash and cash equivalents and restricted cash	(1,253)	(177)	(138,322)	(101,648)
Cash, cash equivalents and restricted cash at the beginning of year	116,260	16,375	254,582	356,230
Cash, cash equivalents and restricted cash at the end of year	115,007	16,198	116,260	254,582
Parent Company
Condensed Statements of Cash Flows
Net cash provided by/(used in) operating activities	(23,234)	(3,272)	195,530	(24,383)
Net cash used in investing activities			(2,690)	(4,859)
Net cash provided by/ (used in) financing activities	(3,651)	(514)	(153,040)	(54,520)
Effect of exchange rate changes	(3,658)	(516)	(18,651)	4,361
Net decrease in cash and cash equivalents and restricted cash	(30,543)	(4,302)	21,149	(79,401)
Cash, cash equivalents and restricted cash at the beginning of year	33,871	4,771	12,722	92,123
Cash, cash equivalents and restricted cash at the end of year	¥ 3,328	$ 469	¥ 33,871	¥ 12,722

Business combination - Additional Information (Details) ¥ in Thousands, $ in Thousands	Mar. 08, 2022 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Business combination
Unpaid cash consideration		¥ 16,788	$ 2,365	¥ 16,788
SendCloud Technology Co., Ltd.,
Business combination
Unpaid cash consideration		¥ 16,788	$ 2,365
Percentage of equity interests acquired	52.37%
Cash consideration	¥ 34,473

Other income (expenses) (Tables)

12 Months Ended

Dec. 31, 2023

Other income (expenses)

Schedule of other nonoperating income, by component


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Government grants	20,879	31,531	10,361	1,459
Disposal loss of long-term investment	—	—	(10,754)	(1,515)
Impairment of long-term investments (Note 8)	(25,370)	(6,726)	(8,505)	(1,198)
Credit losses for loans receivable	(528)	(705)	(6,660)	(938)
Income from ADR profit-sharing program	2,111	2,207	1,336	188
Others	—	11	592	84
Total	(2,908)	26,318	(13,630)	(1,920)

Business combination

12 Months Ended

Dec. 31, 2023

Business combination

Business combination

9	Business combination

On March 8, 2022, the Company completed the acquisition of 52.37% of the equity interests in Wuhan SendCloud Technology Co., Ltd., (“SendCloud”), China’s leading Email API platform for consumer marketing and user-centric transactional email services, for total cash consideration of RMB34,473.

The acquisition supports the Company’s strategy of providing a more reliable and effective customer engagement platform for different industry vertical. Both SendCloud and the Company provide developer-centric services and are highly complementary in products and customer base. Leveraging SendCloud’s reliable high-performance system and database services along with real-time email protocols analysis, together the Company and SendCloud will provide customers with industry-leading technology to simplify their omni-channel communications, through an integrated central platform, which will further reduce customers’ management costs, simplify the complexity for customers to integrate different services and maximize user value.

Goodwill is calculated as the excess of the aggregate of the consideration transferred and the amount recognized for noncontrolling interests over the fair value of net assets, including intangible assets, and is primarily related to expected synergies from the transactions. Goodwill associated with these acquisitions are not tax deductible. The results of the acquisition have been included in the consolidated financial statements from the date of purchase and are not material for the year ended December 31, 2022.

With the assistance of third party valuation specialist firm, the Company used the income approach to value the acquired brand and customer relationships. The income approach calculates fair value by discounting the forecasted after-tax cash flows back to a present value using an appropriate discount rate. The significant assumptions used in the determination of the fair value of acquired brand and customer relationships include revenue growth rates, discount rates, terminal growth rates and economic useful lives. The Company amortizes the acquired intangible assets over a straight-line basis over the periods benefited.

The Company accounted for the acquisition of SendCloud as a business combination. The acquisition date fair value of assets, liabilities, goodwill and redeemable noncontrolling interests pertaining to this business combination, were as follow:


		RMB
Purchase consideration	(i)	34,473
Fair value of redeemable noncontrolling interests		31,397
Less:
Cash and cash equivalents		17,744
Customer relationships		13,800
Brand		10,300
Other current and noncurrent assets		1,025
Deferred revenue		(6,529)
Deferred tax liabilities		(5,330)
Other current liabilities		(2,925)
Goodwill		37,785

Supplemental pro forma information for the acquisition has been excluded as they are not material to the consolidated financial statements of the Company.

(i)RMB16,788 (US$2,365) of the purchase consideration remains unpaid as of December 31, 2023 for which there is no specified repayment term (Note 12).

Prepayments and other current assets - Schedule of prepayment and other current assets (Parenthetical) (Details) ¥ in Thousands	Dec. 31, 2023 CNY (¥)
Allowance for credit losses	¥ 6,000
Other current assets
Allowance for credit losses	3,000
Other non-current assets
Allowance for credit losses	2,000
Equity method investees
Allowance for credit losses	¥ 1,000

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Prepayments and other current assets - Schedule of prepayment and other current assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Prepayments and other current assets
Prepaid service fee	¥ 12,554	$ 1,768	¥ 15,340
VAT and other surcharges	2,023	285	2,552
Investment in a convertible loan			4,632
Loans granted to equity investees			3,000
Office rental deposit	1,629	229	199
Prepaid media cost	436	61	900
Receivables from sales of shares on behalf of employees	13	2	73
Others	3,570	504	3,705
Total prepayments and other current assets	¥ 20,225	$ 2,849	¥ 30,401

Property and equipment, net - Additional information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Property and equipment, net
Impairment of property and equipment	¥ 0		¥ 22,400	¥ 0
Depreciation of property and equipment	¥ 5,301	$ 747	¥ 24,362	¥ 27,337

Revenues

12 Months Ended

Dec. 31, 2023

Revenues.

Revenues

19	Revenues

The Company assesses revenues based upon the nature or type of services it provides and the following table presents disaggregated revenue information:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
Developer Services:
Subscription	155,394	160,722	173,523	24,440
Value-Added Services	97,465	74,509	31,129	4,384
Vertical Applications	104,463	93,591	85,580	12,054
Total revenues	357,322	328,822	290,232	40,878

For the years ended December 31, 2021, 2022 and 2023, revenues recognized at a point in time are RMB222,856, RMB191,587 and RMB163,262 (US$22,995), respectively. For the years ended December 31, 2021, 2022 and 2023, revenues recognized over time are RMB134,466, RMB137,235 and RMB126,970 (US$17,883), respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Accounts receivable, net - Schedule of accounts receivable (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Accounts receivable, net
Accounts receivable	¥ 39,675	$ 5,588	¥ 34,869
Less: allowance for credit losses	(5,331)	(751)	(5,142)
Total accounts receivable, net	¥ 34,344	$ 4,837	¥ 29,727

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 114,521	$ 16,130	¥ 116,128
Restricted cash	486	68	132
Accounts receivable, net of allowances of RMB 5,142 and RMB 5,331 (US$751) as of December 31, 2022 and 2023, respectively	34,344	4,837	29,727
Prepayments and other current assets	20,225	2,849	30,401
Total current assets	169,576	23,884	176,643
Non-current assets:
Property and equipment, net	1,433	202	14,947
Operating lease right-of-use assets	4,081	575	33,756
Intangible assets, net	17,941	2,527	23,947
Goodwill	37,785	5,322	37,785
Long-term investments	112,912	15,903	141,901
Deferred tax assets	1,072	151
Other non-current assets	5,387	759	4,128
Total non-current assets	180,611	25,439	256,464
Total assets	350,187	49,323	433,107
Current liabilities:
Short-term loan (including short-term loan of the variable interest entity ("VIE") without recourse to the Company of RMB 5,000 and nil as of December 31, 2022 and 2023, respectively)			5,000
Accounts payable (including accounts payable of the VIE without recourse to the Company of RMB 15,325 and RMB 16,644 (US$2,344) as of December 31, 2022 and 2023, respectively)	21,073	2,968	18,169
Deferred revenue and customer deposits (including deferred revenue and customer deposits of the VIE without recourse to the Company of RMB 132,195 and RMB 125,767 (US$17,714) as of December 31, 2022 and 2023, respectively)	141,518	19,932	138,804
Operating lease liabilities (including operating lease liabilities of the VIE without recourse to the Company of RMB 16,491 and RMB 4,007 (US$564) as of December 31, 2022 and 2023, respectively)	4,007	564	18,133
Accrued liabilities and other current liabilities (including accrued liabilities and other current liabilities of the VIE without recourse to the Company of RMB 73,779 and RMB 64,967 (US$9,150) as of December 31, 2022 and 2023, respectively)	74,682	10,519	75,333
Total current liabilities	241,280	33,983	255,439
Non-current liabilities:
Deferred revenue (including non-current deferred revenue of the VIE without recourse to the Company of RMB 3,585 and nil as of December 31, 2022 and 2023, respectively)			3,585
Operating lease liabilities (including non-current operating lease liabilities of the VIE without recourse to the Company of RMB 5,546 and RMB 629 (US$89) as of December 31, 2022 and 2023, respectively)	629	89	6,959
Deferred tax liabilities (including non-current deferred tax liabilities of the VIE without recourse to the Company of RMB 4,824 and RMB 3,994 (US$563) as of December 31, 2022 and 2023, respectively)	3,994	563	4,824
Other non-current liabilities (including other non-current liabilities of the VIE without recourse to the Company of RMB 2,076 and RMB 563 (US$79) as of December 31, 2022 and 2023, respectively)	563	79	4,058
Total non-current liabilities	5,186	731	19,426
Total liabilities	246,466	34,714	274,865
Commitments and contingencies
Redeemable noncontrolling interests			30,552
Shareholders' equity
Treasury shares (182,313 and 1,429,341 class A common shares as of December 31, 2022 and 2023, respectively)	(2,453)	(345)	(1,689)
Additional paid-in capital	1,045,397	147,240	1,037,007
Accumulated deficit	(988,669)	(139,251)	(925,982)
Accumulated other comprehensive income	19,223	2,708	18,304
Total Aurora Mobile Limited's shareholders' equity	73,548	10,359	127,690
Noncontrolling interests	30,173	4,250
Total shareholders' equity	103,721	14,609	127,690
Total liabilities, redeemable noncontrolling interests and shareholders' equity	350,187	49,323	433,107
Related Party
Current assets:
Amounts due from related parties			255
Class A Common Shares
Shareholders' equity
Common shares	39	5	39
Class B Common Shares
Shareholders' equity
Common shares	¥ 11	$ 2	¥ 11

Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair value measurements

Summary of assets and liabilities measured or disclosed at fair value


		Fair value measurement at December 31, 2022 using
			Significant
		Quoted prices in	other
	Total Fair	active markets	observable	Significant
	Value at	for identical	inputs	unobservable	Fair value
	December 31, 2022	assets (Level 1)	(Level 2)	inputs (Level 3)	adjustment
	RMB	RMB	RMB	RMB	RMB
Fair value measurement on a non-recurring basis
Equity investments accounted for at fair value using the alternative measurement ⁽ⁱ⁾	—	—	—	—	(6,726)
Property and equipment, net ⁽ⁱⁱ⁾	10,991	—	10,991	—	(22,400)
Total assets measured at fair value	10,991	—	10,991	—	(29,126)

Fair value measurement at December 31, 2023 using

Significant

Quoted prices in

other

Total Fair

active markets

observable

Significant

Value at

for identical

inputs

unobservable

Fair value

December 31, 2023

assets (Level 1)

(Level 2)

inputs (Level 3)

adjustment

RMB

USD

RMB

Fair value measurement on a non-recurring basis

Equity investments accounted for at fair value using the alternative measurement ⁽ⁱ⁾

—

(8,505)

Total assets measured at fair value

—

(8,505)

(i)

(ii)

Commitments and contingencies

12 Months Ended

Dec. 31, 2023

Commitments and contingencies

Commitments and contingencies

15	Commitments and contingencies

Capital commitments

As of December 31, 2023, the Company did not have any non-cancellable purchase commitments.

Share capital (Tables)

12 Months Ended

Dec. 31, 2023

Share capital

Basic and diluted loss per share


	For the year ended		For the year ended
	December 31, 2021		December 31, 2022		For the year ended December 31, 2023
	Class A	Class B	Class A	Class B	Class A		Class B
	RMB	RMB	RMB	RMB	RMB	US$	RMB	US$
Numerator:
Net loss attributable to Class A and Class B common shareholders	(110,258)	(30,326)	(84,032)	(22,932)	(48,851)	(6,881)	(13,247)	(1,866)
Net loss attributable to common shareholders	(110,258)	(30,326)	(84,032)	(22,932)	(48,851)	(6,881)	(13,247)	(1,866)
Denominator:
Weighted average number of shares used in calculating basic and diluted loss per share	61,809,501	17,000,189	62,296,172	17,000,189	62,688,838	62,688,838	17,000,189	17,000,189
Basic and diluted loss per share	(1.78)	(1.78)	(1.35)	(1.35)	(0.78)	(0.11)	(0.78)	(0.11)

Income taxes - Summary of Profit / (Loss) Before Income Taxes (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Income taxes
Total loss before income taxes	¥ (64,554)	$ (9,093)	¥ (108,905)	¥ (140,552)
Cayman Islands
Income taxes
Total loss before income taxes	(16,192)	(2,282)	(21,516)	(23,555)
British Virgin Islands
Income taxes
Total loss before income taxes			(13)	(2)
Hong Kong
Income taxes
Total loss before income taxes	(1,982)	(279)	(2,540)	(1,564)
Singapore
Income taxes
Total loss before income taxes	96	14	34
China
Income taxes
Total loss before income taxes	¥ (46,476)	$ (6,546)	¥ (84,870)	¥ (115,431)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details