TAXATION (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| TAXATION |
|
| Schedule of current and deferred components of income tax expenses |
| | | | | | | | | | | For the year ended | | | December 31, | | | 2023 | | 2024 | | 2025 | | 2025 | | | RMB | | RMB | | RMB | | US$ | | | (in thousands) | Current income tax expenses | | 21,666 | | 12,012 | | 6,387 | | 913 | Deferred income tax expenses | | — | | — | | — | | — | Total income tax expenses | | 21,666 | | 12,012 | | 6,387 | | 913 |
|
| Schedule of reconciliations of the differences between the statutory tax rate and the effective tax rate for enterprise income tax |
| | | | | | | For the year ended December 31, | | | 2023 | | 2024 | | | RMB | | RMB | | | (in thousands) | Income before income tax | | 202,573 | | 110,601 | Income tax computed at the statutory tax rate of 25% of Chinese mainland | | 50,643 | | 27,650 | Effect of differing tax rates in different jurisdictions | | 2,740 | | 795 | Research and development super‑deduction | | (29,192) | | (13,223) | Shared‑based compensation expenses | | 2,359 | | 688 | Non‑deductible expenses | | 2,928 | | 2,397 | Effect of preferential tax rates and tax holiday in Chinese mainland | | (28,489) | | (19,704) | Change in valuation allowance | | 22,950 | | 11,785 | Others | | (2,273) | | 1,624 | Income tax expenses | | 21,666 | | 12,012 |
| | | | | | | | | | For the year ended | | | | December 31, 2025 | | | | RMB | | US$ | | Percent | | | | (in thousands, except for percentages) | | Income tax computed at the statutory tax rate of 25% of Chinese mainland | | 25,447 | | 3,639 | | 25.0 | % | Foreign tax effects | | (232) | | (33) | | (0.2) | % | Research and development super‑deduction | | (9,241) | | (1,321) | | (9.1) | % | Change in valuation allowance | | (7,302) | | (1,044) | | (7.2) | % | Nontaxable or nondeductible items: | | | | | | | | Shared‑based compensation expenses | | 171 | | 24 | | 0.2 | % | Others | | 2,618 | | 374 | | 2.6 | % | Effect of preferential tax rates and tax holiday in Chinese mainland | | (9,912) | | (1,417) | | (9.7) | % | Other adjustments | | | | | | | | Expired tax losses | | 2,717 | | 389 | | 2.7 | % | Others | | 2,121 | | 302 | | 2.0 | % | Income tax expenses | | 6,387 | | 913 | | 6.3 | % |
|
| Schedule of components of the Group's deferred tax assets |
| | | | | | | | | As of December 31, | | | 2024 | | 2025 | | 2025 | | | RMB | | RMB | | US$ | | | (in thousands) | Deferred tax assets | | | | | | | Tax losses carry forward | | 111,923 | | 114,176 | | 16,327 | Deferred revenue and customer advances | | 33,902 | | 26,178 | | 3,743 | Intangible assets acquired under common control | | 13,161 | | 11,725 | | 1,677 | Lease liabilities | | 3,631 | | 2,843 | | 407 | Others | | 3,188 | | 3,253 | | 465 | Less: valuation allowance | | (162,218) | | (155,332) | | (22,212) | | | 3,587 | | 2,843 | | 407 | Deferred tax liabilities | | | | | | | ROU assets | | (3,587) | | (2,843) | | (407) | | | (3,587) | | (2,843) | | (407) | Presentation in the consolidated balance sheets | | | | | | | Deferred tax assets, net | | — | | — | | — | Deferred tax liabilities, net | | — | | — | | — | Net deferred tax assets, net | | — | | — | | — |
|