v3.26.1
Consolidated Balance Sheets
¥ in Thousands, $ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2025
CNY (¥)
Dec. 31, 2024
CNY (¥)
Current assets      
Cash and cash equivalents $ 80,240 ¥ 561,127 ¥ 592,358
Restricted cash 13 91 46,735
Short-term investments 55,820 390,353 153,910
Accounts receivable 5,252 36,726 16,893
Prepayments and other current assets 6,529 45,665 48,553
Total current assets 147,854 1,033,962 858,449
Non-current assets      
Long term investment 32,089 224,404 324,110
Property and equipment, net 278 1,941 3,687
Operating lease right-of-use assets 3,587 25,087 44,577
Other non-current assets 438 3,062 4,600
Total non-current assets 36,392 254,494 376,974
Total assets 184,246 1,288,456 1,235,423
Current liabilities      
Accounts payable (including accounts payable of VIE without recourse to the Company of RMB76,972 and RMB108,553 as of December 31, 2023 and 2024, respectively) 32,044 224,090 223,391
Deferred revenue (including deferred revenue of VIE without recourse to the Company of RMB51,945 and RMB56,768 as of December 31, 2023 and 2024, respectively) 8,657 60,541 56,768
Operating lease liabilities, current (including operating lease liabilities, current of VIE without recourse to the Company of RMB12,055 and RMB12,770 as of December 31, 2023 and 2024, respectively) 1,391 9,728 13,091
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of VIE without recourse to the Company of RMB61,542 and RMB30,035 as of December 31, 2023 and 2024, respectively) 20,848 145,791 165,714
Total current liabilities 62,940 440,150 458,964
Non-current liabilities      
Operating lease liabilities, non-current (including operating lease liabilities, non-current of VIE without recourse to the Company of RMB45,040 and RMB29,395 of December 31, 2023 and 2024, respectively) 1,842 12,879 29,395
Total non-current liabilities 1,842 12,879 29,395
Total liabilities 64,782 453,029 488,359
Total liabilities
SHAREHOLDERS’ EQUITY      
Treasury stock (7,835) (54,790)
Additional paid-in capital 493,658 3,452,202 3,404,857
Accumulated other comprehensive loss (15,124) (105,763) (92,139)
Accumulated deficit (351,255) (2,456,363) (2,565,792)
Total shareholders' equity (deficit) 119,464 835,427 747,064
Total liabilities, mezzanine equity and shareholders' equity 184,246 1,288,456 1,235,423
Common Class A [Member]      
SHAREHOLDERS’ EQUITY      
Ordinary shares, value 16 113 110
Common Class B [Member]      
SHAREHOLDERS’ EQUITY      
Ordinary shares, value $ 4 ¥ 28 ¥ 28