| SCHEDULE OF CONDENSED FINANCIAL STATEMENTS |
SCHEDULE
OF CONDENSED FINANCIAL STATEMENTS
| (a) | Condensed
Balance Sheets |
| | |
2024 | | |
2025 | |
| | |
As
of December 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | |
| ASSETS | |
| | |
| |
| Current
assets | |
| | | |
| | |
| Cash | |
| 19,663 | | |
| 12,089 | |
| Prepayments
and other current assets | |
| 1,935 | | |
| 8,733 | |
| Total
current assets | |
| 21,598 | | |
| 20,822 | |
| Non-current
assets | |
| | | |
| | |
| Amount
due from subsidiaries | |
| 2,268,260 | | |
| 2,180,596 | |
| Total
non-current assets | |
| 2,268,260 | | |
| 2,180,596 | |
| Total
assets | |
| 2,289,858 | | |
| 2,201,418 | |
| LIABILITIES | |
| | | |
| | |
| Current
liabilities | |
| | | |
| | |
| Amount due to subsidiaries
and the VIE | |
| 12,797 | | |
| 12,513 | |
| Accrued expenses and other
current liabilities | |
| 1,602 | | |
| 1,567 | |
| Net liabilities
in subsidiaries and the VIE | |
| 1,528,395 | | |
| 1,351,911 | |
| Total
current liabilities | |
| 1,542,794 | | |
| 1,365,991 | |
| Total
liabilities | |
| 1,542,794 | | |
| 1,365,991 | |
| Total
shareholders’ equity | |
| 747,064 | | |
| 835,427 | |
| Total
liabilities and shareholders’ equity | |
| 2,289,858 | | |
| 2,201,418 | |
| (b) | Condensed
Statements of Result of Operation |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
Year
Ended December 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | |
| Total operating
expenses | |
| (3,613 | ) | |
| (3,230 | ) | |
| (17,730 | ) |
| Interest income | |
| — | | |
| 665 | | |
| — | |
| Investment income | |
| 303 | | |
| 1 | | |
| — | |
| Other income | |
| — | | |
| 4,712 | | |
| — | |
| Share
of gains (losses) from subsidiaries and the VIE | |
| 113,809 | | |
| (148,628 | ) | |
| 127,159 | |
| Income
tax expense | |
| — | | |
| — | | |
| — | |
| Net
income (loss) | |
| 110,499 | | |
| (146,480 | ) | |
| 109,429 | |
| (c) | Condensed
Statements of Cash Flows |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
Year
Ended December 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
RMB | |
| Net cash provided
by (used in) operating activities | |
| (2,191 | ) | |
| 158 | | |
| (24,211 | ) |
| Net cash provided by (used
in) investing activities | |
| 7,088 | | |
| (420,119 | ) | |
| 71,073 | |
| Net cash provided by (used
in) financing activities | |
| — | | |
| 438,184 | | |
| (53,872 | ) |
| Effect
of foreign currency exchange rate changes on cash | |
| 25 | | |
| (3,482 | ) | |
| (564 | ) |
| Net increase
(decrease) in cash | |
| 4,922 | | |
| 14,741 | | |
| (7,574 | ) |
| Cash
at the beginning of the year | |
| — | | |
| 4,922 | | |
| 19,663 | |
| Cash
at the end of the year | |
| 4,922 | | |
| 19,663 | | |
| 12,089 | |
|