减值亏损及拨备上升

前附属公司北京友阳应收款全额减值

Advances to and receivables from business partners primarily relate to (i) other receivables from Beijing Youyang, a former subsidiary of the Company, which amounted to nil, RMB78.3 million, RMB59.4 million, RMB59.3 million and RMB59.3 million as of December 31, 2019, 2020, 2021, 2022 and June 30, 2023, respectively, (ii) other receivables from Hangzhou Penguin Technology Co., Ltd., which amounted to RMB9.5 million as of June 30, 2023, for further details, see “— Related Party Transactions”, and (iii) other advances to or receivables from five potential vendors, each an Independent Third Party in relation to four potential acquisitions of equity interests, machines and/or operating rights with a view to support our business expansion, which amounted to RMB78.9 million, RMB23.5 million, RMB18.0 million, nil and nil as of December 31, 2019, 2020, 2021, 2022 and June 30, 2023, respectively.

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We recorded allowance for impairment of such receivables of RMB38.5 million, RMB59.4 million, RMB59.3 million and RMB59.3 million in view of the recoverability as business of Beijing Youyang deteriorated in 2020, 2021, 2022 and the six months ended June 30, 2023, respectively, due to the COVID-19 outbreak.

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Save as the other receivables from Beijing Youyang, for which impairment provisions has been made in full for the six months ended June 30, 2023, and the RMB9.5 million other receivables from Hangzhou Penguin Technology Co., Ltd. as of June 30, 2023, all other advances and receivables from business partners as of June 30, 2023 had been subsequently settled.

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供应商预付款减值及管理措施

The decrease was primarily attributable to a decrease in impairment loss on prepayment to suppliers, which decreased from RMB12.4 million in 2020 to RMB2.1 million in 2021 primarily because certain suppliers experienced sudden liquidity issues due to the outbreak of the COVID-19 pandemic in 2020.

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In response to suppliers’ liquidity issue, we enhanced our management on suppliers such as maintaining a blacklist of suppliers and reducing prepayments to suppliers that we do not frequently cooperate with.

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贸易应收款项增长且减值拨备上升

Before the allowance for credit losses of trade receivables, as of December 31, 2020, 2021 and 2022, our trade receivables were RMB223.6 million, RMB290.0 million and RMB322.4 million, respectively.

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For the years ended December 31, 2020, 2021, and 2022, our impairment losses under ECL, net of reversal amounted to RMB32.2 million, RMB30.5 million and RMB51.1 million, respectively.

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In view of the above, we believe there is no recoverability issue for our trade receivables.

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