v3.26.1
SCHEDULE OF RISKS IN RELATION IN BALANCE SHEET (Details)
¥ in Thousands, $ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2025
CNY (¥)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Cash and cash equivalents $ 15,671 ¥ 109,587 ¥ 219,365 ¥ 517,542
Restricted cash 3,256 22,770 23,467 ¥ 27,169
Accounts receivable, net 551 3,856 56,233  
Advance to suppliers 1,455 10,178 9,810  
Inventories, net 5,863 41,000 29,448  
Amounts due from related parties   4,535    
Prepaid expense and other current assets 12,318 86,142 177,187  
Property, equipment and software, net 39,857 278,726 205,450  
Long-term investments 44,037 307,956 364,534  
Operating lease right-of-use assets 485 3,392 13,809  
Other non-current assets 13,159 92,019 78,050  
Total assets 172,977 1,209,646 1,352,452  
Accounts payable 6,999 48,943 54,678  
Deferred revenue 1,589 11,115 8,596  
Incentive payables to members 7,241 50,635 66,039  
Members management fee payable 229 1,604 1,263  
Other payable and accrued liabilities 13,738 96,076 126,177  
Operating lease liabilities - current 214 1,498 3,845  
Operating lease liabilities - non-current 230 1,606 7,808  
Total liabilities $ 39,146 273,755 274,406  
Related Party [Member]        
Amounts due from related parties   225 662  
Amounts due to related parties   2,836 1,645  
Variable Interest Entity, Primary Beneficiary [Member]        
Cash and cash equivalents   27,931 24,713  
Restricted cash   21,768 22,465  
Accounts receivable, net   2,718 55,637  
Advance to suppliers   551 780  
Inventories, net   110 1,608  
Prepaid expense and other current assets   49,295 45,858  
Property, equipment and software, net   662 1,376  
Long-term investments   199,800 205,795  
Operating lease right-of-use assets   517  
Other non-current assets   40,014 5,215  
Total assets   818,732 889,131  
Accounts payable   17,319 19,505  
Deferred revenue   8,860 6,409  
Incentive payables to members   50,635 66,039  
Members management fee payable   1,604 884  
Other payable and accrued liabilities   37,411 62,659  
Operating lease liabilities - current   213  
Operating lease liabilities - non-current   223  
Total liabilities [1]   996,407 1,034,904  
Variable Interest Entity, Primary Beneficiary [Member] | Nonrelated Party [Member]        
Amounts due from related parties [2]   475,718 524,755  
Amounts due to related parties [3]   877,987 877,561  
Variable Interest Entity, Primary Beneficiary [Member] | Related Party [Member]        
Amounts due from related parties   165 412  
Amounts due to related parties   ¥ 2,591 ¥ 1,411  
[1] Amounts of the consolidated VIE and the VIE’s subsidiaries without recourse to the primary beneficiary is RMB 157,343 and RMB 118,420 as of December 31, 2024 and 2025, respectively
[2] Amounts due from the Group companies primarily consisted of inter-company receivables for the sales of goods and the rendering of services made by the VIE and the VIE’s subsidiaries on behalf of other Group companies.
[3] Amounts due to the Group companies primarily consisted of inter-company payables for the purchase of goods and services made by other Group companies on behalf of the VIE and the VIE’s subsidiaries.