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Condensed financial information of the parent company - Condensed Statements of Comprehensive Loss (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Condensed Statements of Comprehensive (Loss)/Income
Revenues	¥ 374,847	$ 53,602	¥ 316,170		¥ 290,232
Cost of revenues	(122,937)	(17,580)	(107,136)		(90,946)
Gross profit	251,910	36,022	209,034		199,286
Operating expenses
Research and development	(104,723)	(14,975)	(94,816)		(121,806)
Sales and marketing	(101,003)	(14,443)	(84,900)		(82,705)
General and administrative	(48,168)	(6,888)	(45,448)		(45,653)
Share of (loss)/income of the subsidiaries and VIE					(450)
Total operating expenses	(253,894)	(36,306)	(225,164)		(250,164)
(Loss)/income from operations	706	101	(9,901)		(40,517)
Foreign exchange (loss)/gain, net	(24)	(3)	122		(18)
Interest income	1,298	186	2,881		1,200
(Loss)/income before income taxes	2,647	379	(6,659)		(64,554)
Income tax expenses	(73)	(10)	(110)		1,886
Net (loss)/income	423	61	(7,046)		(62,098)
Other comprehensive income/(loss)
Foreign currency translation adjustments	(1,600)	(229)	817	$ 817	919
Comprehensive loss	(1,177)	(168)	(6,229)		(61,179)
Parent Company
Operating expenses
Sales and marketing	(764)	(109)	(416)		(517)
General and administrative	(5,499)	(786)	(7,018)		(11,430)
Share of (loss)/income of the subsidiaries and VIE	6,340	907	373		(45,933)
Total operating expenses	77	12	(7,061)		(57,880)
(Loss)/income from operations	77	12	(7,061)		(57,880)
Foreign exchange (loss)/gain, net	2		(6)		(61)
Interest income	344	49	21		34
Other loss					(4,191)
(Loss)/income before income taxes	423	61	(7,046)		(62,098)
Net (loss)/income	423	61	(7,046)		(62,098)
Net (loss)/income attributable to common shareholders	423	61	(7,046)		(62,098)
Other comprehensive income/(loss)
Foreign currency translation adjustments	(1,600)	(229)	817		919
Total other comprehensive income/(loss), net of tax	(1,600)	(229)	817		919
Comprehensive loss	¥ (1,177)	$ (168)	¥ (6,229)		¥ (61,179)

Goodwill and Intangible assets - Schedule of Estimated Amortization Expense Related to the Existing Intangible Assets (Details) - Dec. 31, 2025 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Goodwill and Intangible assets
For the year ending December 31, 2026	¥ 4,128	$ 590
2027	1,524	218
2028	1,035	148
2029	1,030	147
2030	¥ 1,030	$ 147

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-based compensation.

Summary of share option activity


							Weighted
					Weighted-		Average
			Weighted-		Average		Remaining
			Average		grant-date		Contractual		Aggregate
	Number of		Exercise		Fair Value		Term		Intrinsic
Options Granted to Employees and Directors	Options		Price		per Option		(Years)		Value
			RMB		RMB				RMB
Outstanding, December 31, 2024	8,794,368		8.65		12.58		5.39		12,923
Granted	522,066		—		3.62		—		—
Forfeited	—		—		—		—		—
Expired	40,227		16.08		20.23		—		—
Exercised	970,693		3.07		5.59		—		—
Cancelled	—		—		—		—		—
Outstanding, December 31, 2025	8,305,514		8.72		12.8		4.67		11,738
Vested and expected to vest as of December 31, 2025	8,305,514		8.72		12.8		4.67		11,738
Vested as of December 31, 2025	8,083,840		9.21		13.47		4.62		11,006

Schedule of assumptions used to estimate the fair values of share options granted


	2023		2024		2025
Risk-free interest rate	3.45%		3.88%		4.19%-4.24%
Dividend yield	0%		0%		0%
Expected volatility	56.55%		57.25%		59.61%-60.01%
Weighted average expected volatility	56.55%		57.25%		59.83%
Expected exercise multiple	2.5		2.5-2.8		2.5-2.8

Summary of restricted share units


			Weighted-		Weighted
			Average		Average
			grant-date		Remaining
	Number of		Fair Value		Contractual		Aggregate
	Share		per Restricted		Term		Intrinsic
Restricted Share Units Granted to Employees and Directors	Units		Share Unit		(Years)		Value
			RMB				RMB
Outstanding, December 31, 2024	273,654		1.84		9.66		1,042
Granted	273,605		5.33		—		—
Forfeited	—		—		—		—
Expired	—		—		—		—
Vested	273,613		—		—		—
Cancelled	—		—		—		—
Outstanding, December 31, 2025	273,646		7.16		9.59		904
Vested and expected to vest as of December 31, 2025	273,646		7.16		9.59		904

Schedule of total compensation costs recognized


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Cost of revenue	3		2		—		—
Research and development	2,764		731		407		58
Sales and marketing	850		138		1,323		189
General and administrative	7,957		3,354		1,954		280
Total	11,574		4,225		3,684		527

Fair Value Measurements (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Fair value measurement on a recurring basis
Fair value measurements
Assets measured at fair value			¥ 0
Fair value measurement on a non-recurring basis
Fair value measurements
Fair value adjustment	¥ 0	$ 0	¥ 0
Estimate fair value measurement
Fair value measurements
Assets measured at fair value	5,090
Estimate fair value measurement \| Fair value measurement on a recurring basis
Fair value measurements
Equity investment with readily determinable fair value	5,090
Estimate fair value measurement \| Level 2
Fair value measurements
Assets measured at fair value	5,090
Estimate fair value measurement \| Level 2 \| Fair value measurement on a recurring basis
Fair value measurements
Equity investment with readily determinable fair value	5,090
Fair value adjustment
Fair value measurements
Assets measured at fair value	90
Fair value adjustment \| Fair value measurement on a recurring basis
Fair value measurements
Equity investment with readily determinable fair value	¥ 90

- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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-Section 50
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 11
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-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-14

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480078/944-80-55-9

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1)(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2Summary of Significant Accounting Policies

Basis of presentation

The consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles of the United States (“U.S. GAAP”).

Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE, and subsidiaries of the VIE. All significant intercompany transactions and balances have been eliminated upon consolidation.

2Summary of Significant Accounting Policies (continued)

Comparative Information

Certain financial information has been adjusted to conform with the current year’s presentation to facilitate comparison.

Use of estimates

The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires managements to make estimates and judgments that affect the reported amounts of assets and liabilities at the balance sheet date and the reported revenues and expenses during the reported period in the consolidated financial statements and accompanying notes. Management base their estimates and judgments on historical information and on various other assumptions that they believe are reasonable under the circumstances. U.S. GAAP requires management to make estimates and judgments in several areas, including, but not limited to, those related to allowance for credit losses of accounts receivable and loans receivable, useful lives of intangible assets, impairment of goodwill and intangible assets, fair value measurements and impairment of long-term investments, valuation allowance for deferred tax assets, incremental borrowing rates for operating lease liabilities and share-based compensation. These estimates are based on management’s knowledge about current events and expectations about actions that the Company may undertake in the future. Actual results could differ from those estimates.

Convenience translation

Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB6.9931 per US$1.00 on December 31, 2025, as published on the website of the United States Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

Foreign currency translation

The functional currency of the Company and the Company’s subsidiary outside the PRC are US$. The Company’s PRC subsidiary, the VIE and subsidiaries of the VIE adopted RMB as their functional currencies. The determination of the respective functional currency is based on the criteria stated in ASC 830, Foreign Currency Matters. The Company uses RMB as its reporting currency. The consolidated financial statements of the Company are translated into RMB using the exchange rate as of the balance sheet date for assets and liabilities and average exchange rate for the year for income and expense items. Translation gains and losses are recorded in accumulated other comprehensive income, as a component of shareholders’ equity.

Transactions in currencies other than the functional currency are remeasured and recorded in the functional currency at the exchange rate prevailing on the transaction date.

Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured into the functional currency at the rates of exchange prevailing at the balance sheet dates. Transaction gains and losses are recognized in the consolidated statements of comprehensive (loss)/income during the period or year in which they occur.

2Summary of Significant Accounting Policies (continued)

Cash and cash equivalents

Cash and cash equivalents primarily consist of cash and demand deposits which are highly liquid. The Company considers highly liquid investments that are readily convertible to known amounts of cash and with original maturities from the date of purchase of three months or less to be cash equivalents. All cash and cash equivalents are unrestricted as to withdrawal and use.

Restricted cash

Restricted cash balance mainly represents deposits pledged for a bank account.

Short-term investments

The Company’s short-term investments mainly represent equity investments with readily determinable fair value.

In 2025, the Company purchased a private equity fund product for RMB5,000 (US$715). Unrealized gains from such equity investments totaling RMB90 (US$13) are recorded in “Gains from fair value change” in the consolidated statements of comprehensive (loss)/income.

Accounts receivable, net

Accounts receivable are recorded at the realizable value amount, net of allowances for credit loss in accordance with ASC 326 Credit losses (“ASC 326”), and records the allowance for credit losses as an offset to accounts receivable. The estimated credit losses is classified as “General and administrative” in the consolidated statements of comprehensive (loss)/income. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when the Company identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses using roll-rate method, the Company considers historical collectability based on past due status, the age of the accounts receivable balances, credit quality of the Company’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Company’s ability to collect from customers.

Loans receivable, net

Loans receivable, net are included in “Other non-current assets” on the consolidated balance sheets are carried at amortized cost. The Company maintains an allowance for credit losses in accordance with ASC 326, and represents the Company’s best estimate of expected credit losses over the remaining contractual life of the loans and are included in “other (loss)/income” in the consolidated statements of comprehensive (loss)/income. Management estimates the allowance for credit losses on loans not sharing similar risk characteristics on an individual basis. The key factors considered when determining the above allowances for credit losses include age of the amounts due, terms of the loans, historical collections and the creditworthiness and financial condition of the borrower. Interest income is recognized on loans receivable using the interest method except for when receivables are determined to be uncollectible, interest income is recognized on a cash basis method. Impaired loans are written off after all collection effort has ceased.

2Summary of Significant Accounting Policies (continued)

Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation and impairment. Depreciation is computed using the straight-line method over the estimated useful lives of the assets or the remaining lease term, whichever is shorter. The estimated useful lives of property and equipment are as follows:

Computer equipment and servers		3 – 5 years

Office furniture and equipment		3 – 5 years

Leasehold improvements		over the shorter of lease terms or estimated useful lives of the assets

Costs related to construction of property and equipment incurred before the assets are ready for their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment items and depreciation of these assets commences when they are ready for their intended use. Expenditures for repair and maintenance are expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from their respective accounts, and any gain or loss on such sale or disposal is reflected in the consolidated statements of comprehensive (loss)/income.

Intangible assets

Intangible assets with finite lives are carried at cost less accumulated amortization. Intangible assets represent computer software, systems and technology, brand and customer relationship acquired in a business combination. The cost of the brand and customer relationship is the fair value at the date of acquisition. All intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives, which are as follows:


Computer software, systems and technology		1 – 5 years

Brand		10 years

Customer relationship		5 years

Residual values are considered nil.

Impairment of long-lived assets other than goodwill

The Company evaluates long-lived assets, such as property and equipment and purchased intangible assets with finite lives, for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be fully recoverable in accordance with ASC 360, Property, Plant and Equipment. When such events occur, the Company assesses the recoverability of the asset group by comparing the carrying amounts of the assets to the undiscounted future cash flow expected to generate from the use of the asset group and recognizes an impairment loss when estimated undiscounted future cash flow and the eventual disposition is less than the carrying value of the asset group. If the Company identifies an impairment, the Company reduces the carrying amount of the asset group to its estimated fair value based on a discounted cash flow approach or, when available and appropriate, to comparable market values. The Company uses estimates and judgments in its impairment tests and if different estimates or judgments had been utilized, the timing or the amount of any impairment charges could be different. For the years ended December 31, 2023, 2024 and 2025, no impairment charge was recognized for long-lived assets.

2Summary of Significant Accounting Policies (continued)

Goodwill

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for noncontrolling interests over the identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill, which is non-deductible for tax purposes, is primarily attributable to the synergies expected to be achieved from the acquisition.

Impairment of goodwill

The Company assesses goodwill for impairment in accordance with ASC 350-20, Intangibles—Goodwill and Other: Goodwill, (“ASC 350-20”), which requires that goodwill be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events.

Under ASC 350-20-35, the Company has the option to choose whether it will apply the qualitative assessment first and then the quantitative assessment, if necessary, or to apply the quantitative assessment directly. In the qualitative assessment, the Company primarily considers factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. If the Company believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, a quantitative impairment test is required. Otherwise, no further testing is required. Therefore, when the Company performs the quantitative impairment test it compares the fair value of the reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess.

The Company elected to bypass the qualitative assessment and proceeded directly to perform the quantitative test for the years ended December 31, 2023, 2024 and 2025, by quantitatively comparing the fair values of the reporting unit to its carrying amounts. The Company determines the fair value of the reporting unit based on estimated fair value using the income approach, and no impairment charge was recognized for the years ended December 31, 2023, 2024 and 2025.

Consolidation of noncontrolling interests

A noncontrolling interest is recognized to reflect the portion of a subsidiary’s equity which is not attributable, directly or indirectly, to the Company. Consolidated net (loss)/income on the consolidated statements of comprehensive (loss)/income includes the net (loss)/income attributable to noncontrolling interests when applicable. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows when applicable.

2Summary of Significant Accounting Policies (continued)

Long-term investments

The Company’s long-term investments consist of equity method investments and equity investments without readily determinable fair value.

Equity investments without readily determinable fair value

The Company accounts for investments in an investee over which the Company does not have significant influence and which do not have readily determinable fair value using the measurement alternative, which is defined as cost, less impairments, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Company makes a qualitative assessment considering impairment indicators to evaluate whether an investment is impaired at each reporting date. Impairment indicators considered include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee, including factors that raise significant concern about the investee’s ability to continue as a going concern, a significant adverse change in the regulatory, economic or technological environment of the investee, and a significant adverse change in the general market condition of the industry in which the investee operates. If a qualitative assessment indicates that the investment is impaired, the Company estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Company has to recognize an impairment loss equal to the difference between the carrying value and fair value. As of December 31, 2025, the Company determines the fair value of certain investee by using the market approach with the assistance of an independent third-party valuation firm. The significant assumptions used included the selection of comparable companies and the discount for lack of marketability.

Equity method investments

The Company accounts for investments in an investee over which the Company can exercise significant influence but does not own a majority equity interest or control using the equity method in accordance with ASC 323, Investments-Equity Method and Joint Ventures (“ASC 323”). Under the equity method, the Company initially records its investment at cost and the difference between the cost of the equity investee and the amount of the underlying equity in the net assets of the equity investee is accounted for as if the investee were a consolidated subsidiary. The Company subsequently adjusts the carrying amount of the investments to recognize the Company’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. The Company will discontinue applying the equity method if an investment has been reduced to zero and has not guaranteed obligations of the investee or committed to provide further financial support to the investee. The Company evaluates the equity method investments for impairment at each report date, or more frequently if events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. An impairment loss is recognized in earnings when the decline in value of the investment is determined to be other-than-temporary.

2Summary of Significant Accounting Policies (continued)

Value added taxes (“VAT”)

The Company presents VAT assessed by government authorities as reductions of revenues. Pursuant to the PRC tax legislation, VAT is generally imposed in lieu of business tax in the modern service industries, on a nationwide basis. The Company is allowed to offset the qualified input VAT paid on taxable purchases against the output VAT chargeable on the modern services provided and goods sold.

Treasury shares

Treasury shares represent shares repurchased by the Company that are no longer outstanding and are held by the Company. Treasury shares are accounted for under the cost method per ASC 505-30, Treasury Stock. Under this, on September 15, 2022, the Board of Directors of the Company approved a repurchase plan (the “2022 Repurchase Plan”) to repurchase its common shares (including in the form of ADSs) up to an aggregate value of US$5 million from the open market. On November 16, 2023, the Board of Directors of the Company approved a repurchase plan (the “2023 Repurchase Plan”) to repurchase its common shares (including in the form of ADSs) up to an aggregate value of US$5 million from the open market. On December 30, 2024, the Board of Directors of the Company approved a repurchase plan (the “2025 Repurchase Plan”) to repurchase its common shares (including in the form of ADSs) up to an aggregate value of US$5 million from the open market. On November 13, 2025, the Board of Directors of the Company approved a repurchase plan (the “2026 Repurchase Plan”) to repurchase its common shares (including in the form of ADSs) up to an aggregate value of US$10 million from the open market. Every three of ADSs represent forty Class A common shares. During the years ended December 31, 2023, 2024 and 2025, the Company repurchased 127,987, 91,166 and 120,825 ADSs, representing 1,706,493, 1,215,547 and 1,611,000 Class A common shares from the open market with an aggregate purchase price of RMB3,709, RMB3,410 and RMB7,529 (US$1,077) respectively.

2Summary of Significant Accounting Policies (continued)

Revenue recognition

Under ASC 606, revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Revenues are presented net of value-added tax collected on behalf of the government.

SAAS Businesses

The Company generates SAAS Businesses revenue primarily from developer services and vertical applications. For developer services, there are three types of contracts, subscription-based contracts, project-based contracts and consumption-based contracts. The Company primarily enters into subscription-based contracts with its customers to provide push notification or instant messaging (collectively “notification services”), which the Company provides its customers with access to its notification services platform. This enables customers to send notifications and messages to users. The nature of the Company’s performance obligation is a single performance obligation with a fixed transaction price based on subscription fees. The Company generally recognizes revenue ratably over time under the subscription-based contracts as stand-ready obligations because the customer simultaneously receives and consumes the benefits as the Company provides subscription services throughout a fixed contract term. The Company uses an output method of progress based on fixed contract term as it best depicts the transfer of control to the customer.

The Company primarily enters into consumption-based contracts with its customers to provide short message services (“SMS”), one-click verification services, email services and value-added services. For SMS, the Company enables customers to send short messages to users for developer-user communication and authentication. For one-click verification services, the Company enables users to verify the cellphone number of users without verification code after integrating the one-click verification SDK. For email services, the Company enables the customers to send emails to users. Customers pay for SMS, one-click verification, and email services based on the pre-agreed rate per message or email and the number of messages or email delivered. The Company acts as the principal in the SMS, one-click verification, and email services in which the Company has control over the fulfillment of services. The Company recognizes revenue on a gross basis and at the point in time when messages are delivered. For value-added services, the Company provided advertising services by connecting advertisers and application (“APP”) developers, who are the suppliers of where the ads will be displayed. The Company enters into contractual arrangements with advertisers that stipulate the types of advertising to be delivered and priced. Advertising customers pay for the value-added service primarily on several basis, including cost-per-action (“CPA”) basis, cost-per-mille (“CPM”), cost-per-sale (“CPS”) and cost-per-click (“CPC”) basis. All of the contractual arrangements’ duration is less than one year. The Company acts as the principal in the value-added services in which the Company has control over the fulfillment of the service and has discretion in establishing price. Accordingly, the Company recognizes revenue on a gross basis and at a point in time once agreed actions are performed.

2Summary of Significant Accounting Policies (continued)

Revenue recognition (continued)

SAAS Businesses (continued)

The Company primarily enters into project-based contracts with its customers to provide private cloud-based developer services, which are designed to provide customizable services to customers who want a more controlled software environment and more comprehensive technology and customer support. The Company provides its customers one combined performance obligation including customized APP push notification system or instant messaging system and related system training services as both performance obligations are incapable of being distinct because the customer cannot derive economic benefit from the related system training services on its own. Meanwhile, the Company also provides post contract assurance-type maintenance services, which usually have a duration of one year. The transaction price is fixed based on the signed contract consideration. Under ASC 606, the Company recognize revenue at the point in time when the system is implemented, and the training service is provided, which is represented by the customer acceptance received by the Company.

For vertical applications, the Company enters into agreements with its customers to provide data analytic solutions and there are three types of contracts, including subscription-based contracts, project-based contracts and consumption-based contracts. The Company primarily enters into subscription-based contracts with its customers to provide customizable service packages for a fixed contract term, which allows the customers to subscribe a fixed number of apps to obtain unlimited volume of queries to the Company’s analytic results. The nature of the Company’s performance obligation is a single performance obligation with a fixed transaction price based on subscription fees. The Company generally recognizes revenue ratably over time under the subscription-based contracts, because the customer simultaneously receives and consumes the benefits as the Company provides subscription services throughout a fixed contract term.

The Company primarily enters into project-based contracts with its customers to provide in-depth analytics services and generate customized reports based on the customers’ specific requirements. The nature of the Company’s performance obligation is a single performance obligation with a fixed transaction price based on the signed contract consideration. The Company recognizes revenue at the point in time when the customized reports are provided.

The Company primarily enters into consumption-based contracts with its customers to process the queries or provide features based on the customers’ requirements. The nature of the Company’s performance obligation is a single performance obligation, and the transaction price is determined based on the pre-agreed the rate per query and the number of queries delivered. When the Company receives a placed order, it recognizes revenue at a point in time when the queries are processed, or the features are utilized by the customers.

For certain arrangements, customers are required to pay the Company before the services are delivered. For other arrangements, the Company provides customers with a credit term under six months.

2Summary of Significant Accounting Policies (continued)

Other revenue recognition related policies

Timing of revenue recognition may differ from the timing of invoicing to customers. Some customers are required to pay before the services are delivered to the customer. When either party to a revenue contract has performed, the Company recognizes a contract asset or a contract liability on the consolidated balance sheet, depending on the relationship between the Company’s performance and the customer’s payment.

Contract assets represent amounts related to the Company’s rights to consideration received for private-cloud-based service and are included in “Prepayments and other assets” on the consolidated balance sheets. Amount of contract assets was not material as of December 31, 2024 and 2025, respectively.

Contract liabilities are mainly related to fees for services to be provided over the service period, which are included in “Deferred revenue and customer deposits” on the consolidated balance sheets. The increase in contract liabilities is a result of the increase in consideration received from the Company’s customers. Revenue recognized for the years ended December 31, 2024 and 2025 that was included in contract liabilities as of January 1, 2024 and 2025 was RMB65,853 and RMB71,074 (US$10,163), respectively. A summary of contract liabilities is as follows:


		As of December 31,
		2024		2025
		RMB		RMB		US$
Contract liabilities		87,064		121,848		17,424

Customer deposits relate to customer’s unused balances that are refundable. Once this balance is utilized by the customer, the corresponding amount would be recognized as revenue.

As of December 31, 2024 and 2025, the Company’s unsatisfied (or partially unsatisfied) performance obligations for contracts with an original expected length of more than one year was RMB41,114 and RMB83,544 (US$11,947), respectively. The Company expects to recognize the majority of its remaining performance obligations as revenue within the next two years.

Costs of revenues

Cost of revenues consists primarily of channel cost associated with value-added services, short messaging cost, technical services cost, cloud cost, staff costs and depreciation of servers used for revenue generating services.

2Summary of Significant Accounting Policies (continued)

Research and development

Research and development expenses are primarily incurred in the development of new services, new features as well as costs associated with new product and technology development and enhancement. Research and development costs are expensed as incurred unless such costs qualify for capitalization as software development costs. No research and development costs were capitalized during any of the years presented as the Company has not met all of the necessary capitalization requirements.

Advertising expenses

Advertising expenses, including promotion expenses, are charged to “sales and marketing expenses” as incurred. Advertising expenses amounted to RMB7,035, RMB7,323 and RMB9,406 (US$1,345) for the years ended December 31, 2023, 2024 and 2025, respectively.

Government grants

Government grants primarily consist of financial grants received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. For certain government grants, there are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government grants of operating nature with no further conditions to be met are recorded as operating income in “Other operating income” when received. When the grant relates to an expense item, it is recognized in the consolidated statement of comprehensive (loss)/income over the period necessary to match the grant to the related costs. Where the grant relates to an asset acquisition, it is recognized in the consolidated statements of comprehensive (loss)/income in proportion to the depreciation of the related assets.

2Summary of Significant Accounting Policies (continued)

Operating leases

The Company has elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date and (3) initial direct costs for any expired or existing leases as of the adoption date. The Company also elected the short-term lease exemption for all contracts with lease terms of 12 months or less.

The Company determines if an arrangement is a lease or contains a lease at lease inception. Leases are classified at the inception date as either as a finance lease or an operating lease. The Company classifies a lease as a finance lease when the lease meets any one of the following criteria at lease commencement:

The lease transfers ownership of the underlying asset to the lessee by the end of the lease term.

The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise.

The lease term is for a major part of the remaining economic life of the underlying asset.

The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the underlying asset.

The underlying asset is of such a specialized nature that it is expected to have no alternative use to the Company at the end of the lease term.

For operating leases, the Company recognizes right-of-use assets (“ROU assets”) and lease liabilities based on the present value of the lease payments over the lease term on the consolidated balance sheets at commencement date. At lease commencement, operating lease ROU assets represent the right to use underlying assets for their respective lease terms and are recognized at amounts equal to the lease liabilities adjusted for any lease payments made prior to the lease commencement date, less any lease incentives received and any initial direct costs incurred by the Company.

After lease commencement, operating lease liabilities are measured at the present value of the remaining lease payments using the discount rate determined at lease commencement. Operating lease ROU assets are measured at the amount of the lease liabilities and further adjusted for prepaid or accrued lease payments, the remaining balance of any lease incentives received, unamortized initial direct costs and impairment of the ROU assets, if any. Operating lease expense is recorded as a single cost on a straight-line basis over the lease term.

The Company’s leases do not provide an implicit rate. Therefore, the Company estimates its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located.

2Summary of Significant Accounting Policies (continued)

Employee defined contribution plan

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund, and other welfare benefits are provided to employees. Chinese labor regulations require that the Company make contributions to the government for these benefits based on a certain percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount that was expensed as incurred was RMB11,820, RMB7,911 and RMB9,501 (US$1,359) for the years ended December 31, 2023, 2024 and 2025, respectively.

Income taxes

The Company accounts for income taxes using the liability approach and recognizes deferred tax assets and liabilities for the expected future consequences of events that have been recognized in the consolidated financial statements or in the Company’s tax returns. Deferred tax assets and liabilities are recognized on the basis of the temporary differences that exist between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements using enacted tax rates in effect for the year end in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in earnings. Deferred tax assets are reduced by a valuation allowance through a charge to income tax expense when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The Company evaluates the potential for recovery of deferred tax assets by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The components of the deferred tax assets and liabilities are classified as non-current.

The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements by applying a two-step process to determine the amount of the benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained (defined as a likelihood of more than fifty percent of being sustained upon an audit, based on the technical merits of the tax position), the tax position is then assessed to determine the amount of benefits to recognize in the consolidated financial statements. Tax positions that meet the “more likely than not” recognition threshold are measured, using a cumulative probability approach, at the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.

The Company evaluated its income tax uncertainty under ASC 740. ASC 740 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The Company elects to classify interest and penalties related to an uncertain tax position, if and when required, as part of income tax expense in the consolidated statements of comprehensive (loss)/income.

2Summary of Significant Accounting Policies (continued)

Share-based compensation

In accordance with ASC 718, Compensation-Stock Compensation, the Company determines whether an award granted to its employees should be classified and accounted for as a liability award or equity award. All of the Company’s share-based awards to employees were classified as equity awards. The Company measures the employees’ share-based compensation based on the fair value of the award at the grant date.

The Company uses the accelerated method for all awards granted with graded vesting based on service conditions, and elects to account for forfeitures as they occur. The company applies binomial option pricing model in determining the estimated fair value of the awards granted to employees on the date of the grant, and recognizes the estimated compensation cost based on the fair value.

A change in the terms or conditions of a share-based award, or cancellation of a share-based award accompanied by the concurrent grant of a replacement award is accounted for as a modification (that is, an exchange of the original award for a new award), unless the award’s fair value, vesting conditions, and classification as an equity instrument are the same as immediately before and after the change. Incremental compensation cost is measured as the excess, if any, of the fair value of the modified award over the fair value of the original award immediately before its terms are modified, measured based on the fair value of the awards and other pertinent factors at the modification date. For vested awards, the Company recognizes incremental compensation cost in the period the modification occurs. For unvested awards, the Company recognizes over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date. If the fair value of the modified award is lower than the fair value of the original award immediately before modification, the minimum compensation cost the Company recognizes is the cost of the original award.

Fair value measurements

ASC 820-10, Fair Value Measurements and Disclosures: Overall, establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets

Level 2 — Include other inputs that are directly or indirectly observable in the marketplace

Level 3 — Unobservable inputs which are supported by little or no market activity

ASC 820-10 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

The carrying amounts of financial assets and liabilities, such as cash equivalents, restricted cash, accounts receivables, other receivables within prepayments and other current assets, balances with related parties, short-term loan, accounts payable, and other payables with accrued liabilities and other current liabilities, approximate their fair values because of the short maturity of these instruments.

2Summary of Significant Accounting Policies (continued)

Comprehensive (loss)/income

Comprehensive (loss)/income is defined as the decrease or increase in equity of the Company during a year from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Accumulated other comprehensive income of the Company includes the foreign currency translation adjustments.

(Loss)/earnings per share

In accordance with ASC 260, Earning per Share, basic (loss)/earnings per share is computed by dividing net (loss)/income attributable to common shareholders by the weighted average number of common shares outstanding during the period using the two-class method. Under the two-class method, net (loss)/income is allocated between common shares based on dividends declared (or accumulated) and participating rights in undistributed earnings as if all the earnings for the reporting period had been distributed. For the year ended December 31, 2025, the two-class method is applicable because the Company has two classes of common shares outstanding, Class A and Class B common shares, respectively. The participating rights (liquidation and dividend rights) of the holders of the Company’s Class A and Class B common shares are identical, except with respect to voting. As a result, and in accordance with ASC 260, as the liquidation and dividend rights are identical, the undistributed (loss)/income is allocated on a proportionate basis.

Diluted (loss)/earnings per share is computed by dividing net (loss)/income attributable to common shareholders as adjusted for the effect of dilutive common equivalent shares, if any, by the weighted average number of common and dilutive common equivalent shares outstanding during the years. Common share equivalents are excluded from the computation of diluted (loss)/earnings per share if their effects would be anti-dilutive.

Concentration of risks

Concentration of credit risk

Financial assets that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and accounts receivable.

The Company places its cash and cash equivalents with reputable financial institutions which have high-credit ratings. As of December 31, 2024 and 2025, the aggregate amount of cash and cash equivalents, and restricted cash of RMB92,866 and RMB134,120 (US$19,179), respectively, were held at major financial institutions located in the PRC, and US$3,655 and US$5,621 (RMB39,309), respectively, were deposited with major financial institutions located outside the PRC. The Company continues to monitor the financial strength of the financial institutions. The Company regularly monitors the rating of the international financial institutions to avoid any potential defaults. There has been no recent history of default in relation to these financial institutions.

Accounts receivable are typically unsecured and derived from revenue earned from customers mainly in the PRC, which are exposed to credit risk. The risk is mitigated by credit evaluations the Company performs on its customers and its ongoing monitoring process of outstanding balances. The Company maintains reserves for estimated credit losses, which have generally been within its expectations.

2Summary of Significant Accounting Policies (continued)

Concentration of risks (continued)

Concentration of suppliers

Approximately 27.8%, 48.15% and 41.91% of advertising costs were paid to three suppliers for the years ended December 31, 2023, 2024 and 2025, respectively.

Business and economic risk

The Company believes that changes in any of the following areas could have a material adverse effect on the Company’s future consolidated financial position, results of operations or cash flows: changes in the overall demand for services; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in certain strategic relationships; regulatory considerations and risks associated with the Company’s ability to attract employees necessary to support its growth. The Company’s operations could also be adversely affected by significant political, regulatory, economic and social uncertainties in the PRC.

Currency convertibility risk

Substantially all of the Company’s businesses are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts.

Foreign currency exchange rate risk

The functional currency and the reporting currency of the Company are the US$ and the RMB, respectively. On June 19, 2010, the PBOC announced the end of the RMB’s de facto peg to the US$, a policy which was instituted in late 2008 in the face of the global financial crisis, to further reform the RMB exchange rate regime and to enhance the RMB’s exchange rate flexibility. On March 15, 2014, the People’s Bank of China announced the widening of the daily trading band for RMB against US$. The depreciation of the US$ against RMB was approximately 4.19% in 2025. Most of the Company’s revenues and costs are denominated in RMB, while a portion of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable are denominated in US$. Any significant revaluation of RMB may materially and adversely affect the Company’s consolidated revenues, earnings and financial position in US$.

2Summary of Significant Accounting Policies (continued)

Segment information

The Company operates in one operating and reportable segment and derives revenues primarily from SAAS Businesses. The Company’s chief operating decision maker is the Chief Executive Officer (“CEO”), who makes resource allocation decisions and assesses performance based on the consolidated financial results. The CEO assesses performance and decides how to allocate resources based on total revenue and consolidated net (loss)/income as reported on the consolidated statements of comprehensive (loss)/income. The CEO considers budget to actual comparisons of total revenue and consolidated net (loss)/income on a regular basis when assessing the operating results and making resource decisions to improve profitability aligned with the Company’s strategic initiatives and capital allocation priorities.

Significant expenses reviewed by the CEO include those that are presented in the consolidated statements of comprehensive (loss)/income. As the Company generates substantially most of its revenues and holds substantially all of its long-lived assets in the PRC, no geographical segments are presented.

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The Company adopted ASU No. 2023-09 as of December 31, 2025 on a prospective basis. The adoption did not have a material impact on the Company’s financial position, results of operations and cash flows.

Recently issued accounting pronouncements

In March 2024, the Securities and Exchange Commission issued The Enhancement and Standardization of Climate-Related Disclosures for Investors, which requires entities to provide information of certain climate-related information. This update will be effective for the Company’s fiscal years beginning in 2027. The Company is currently in the process of evaluating the disclosure impact.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40), which requires the disaggregated disclosure of specific expense categories and also requires disclosure of the total amount of selling expenses along with the definition. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The guidance can be applied either prospectively or retrospectively. The Company is currently in the process of evaluating the disclosure impact.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments in this update provide a practical expedient permitting an entity to assume that conditions at the balance sheet date remain unchanged over the life of the asset when estimating expected credit losses for current classified accounts receivable and contract assets. The amendments will be effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Adoption of this ASU can be applied prospectively for reporting periods after its effective date. Early adoption is permitted. The Company is currently in the process of evaluating the disclosure impact.

2Summary of Significant Accounting Policies (continued)

Recently issued accounting pronouncements (continued)

In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The ASU simplifies the capitalization guidance by removing all references to prescriptive and sequential software development stages (referred to as “project stages”) throughout ASC 350-40. The ASU is effective for annual periods beginning after December 15, 2027, and interim periods within those fiscal years. Adoption of this ASU can be applied prospectively for reporting periods after its effective date; or follow a modified transition approach that is based on the status of the respective projects and whether software costs were capitalized before the date of adoption; or retrospectively to any or all prior periods presented in the consolidated financial statements. Early adoption is permitted. The Company is currently in the process of evaluating the disclosure impact.

In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. The ASU establishes authoritative guidance in GAAP about accounting for government grants received by business entities, clarifies the appropriate accounting, in an effort to reduce diversity in practice, and increase consistency of application across business entities. The ASU is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. Adoption of this ASU can be applied a modified prospective approach, a modified retrospective approach, or a retrospective approach. Early adoption is permitted. The Company is currently in the process of evaluating the disclosure impact.

Organization and principal activities

12 Months Ended

Dec. 31, 2025

Organization and principal activities

Organization and principal activities

1Organization and principal activities

Aurora Mobile Limited (the “Company” and where appropriate, the term “Company” also refers to its subsidiaries, the variable interest entity (“VIE”), and subsidiaries of the VIE) is a limited company incorporated in the Cayman Islands under the laws of the Cayman Islands on April 9, 2014. The Company through its subsidiaries, the VIE, and subsidiaries of the VIE are principally engaged in providing Software-as-a-Service (“SAAS”) Businesses, which include developer services, financial risk management, and market intelligence services, in the People’s Republic of China (the “PRC”).

As PRC laws and regulations prohibit and restrict foreign ownership of internet value-added businesses, the Company operates its business, primarily through the VIE. The Company, through JPush Information Consulting (Shenzhen) Co., Ltd. (“Shenzhen JPush” or “WFOE”) entered into shareholder voting proxy agreement and an exclusive option agreement with the nominee shareholders of the VIE, Shenzhen Hexun Huagu Information Technology Co., Ltd. (“Hexun Huagu”), that gave WFOE the power to direct the activities that most significantly affect the economic performance of the VIE and to acquire the equity interests in the VIE when permitted by the PRC laws, respectively. In addition, pursuant to the supplementary agreements, the rights under the aforementioned shareholder voting proxy agreement and the exclusive call option agreements were assigned to the board of directors of the Company (the “Board”) or any officer authorized by the Board, which entitled the Company to receive economic benefits from the VIE that potentially could be significant to the VIE.

Despite the lack of equity ownership, as a result of a series of VIE agreements, the nominee shareholders of the VIE effectively assigned all of their voting rights underlying their equity in the VIE to the Company, which gives the Company the power to direct the activities that most significantly impact the VIE’s economic performance. In addition, through the exclusive business operation agreement, the Company, through its WFOE in the PRC, has the right to receive economic benefits from the VIE that potentially could be significant to the VIE. Lastly, through the financial support agreement, the Company has the obligation to absorb losses of the VIE that could potentially be significant to the VIE. Therefore, the Company is considered the primary beneficiary of the VIE and consolidates the VIE as required by SEC Regulation S-X Rule 3A-02 and Accounting Standards Codification (“ASC”) 810.

The following is a summary of the VIE agreements:

Exclusive Option Agreements

Pursuant to the exclusive option agreements entered into between the VIE’s nominee shareholders and the WFOE, the nominee shareholders irrevocably granted the WFOE an option to request the nominee shareholders to transfer or sell any part or all of its equity interests in the VIE, or any or all of the assets of the VIE, to the WFOE, or their designees. The purchase price of the equity interests in the VIE is equal to the minimum price required by PRC law. Without the WFOE’s prior written consent, the VIE and its nominee shareholders cannot amend its articles of association, increase or decrease the registered capital, sell or otherwise dispose of its assets or beneficial interest, create or allow any encumbrance on its assets or other beneficial interests and provide any loans or guarantees. The nominee shareholders cannot request any dividends or other form of assets. If dividends or other form of assets were distributed, the nominee shareholders are required to transfer all received distribution to the WFOE or their designees. These agreements are not terminated until all of the equity interest of the VIE is transferred to the WFOE or the person(s) designated by the WFOE. None of the nominee shareholders have the right to terminate or revoke the agreements under any circumstance unless otherwise regulated by law.

1Organization and principal activities (continued)

Equity Interest Pledge Agreements

Pursuant to the equity interest pledge agreements, each nominee shareholder of the VIE has pledged all of their respective equity interests in the VIE to the WFOE as continuing first priority security interest to guarantee the performance of their and the VIE’s obligations under the shareholder voting proxy agreement, the exclusive option agreements and the exclusive business cooperation agreement. The WFOE is entitled to all dividends during the effective period of the share pledge except as it agrees otherwise in writing. If the VIE or any of the nominee shareholders breach the contractual obligations, the WFOE will be entitled to certain rights regarding the pledged equity interests, including receiving proceeds from the auction or sale of all or part of the pledged equity interests of the VIE in accordance with PRC laws. None of the nominee shareholders shall, without the prior written consent of the WFOE, assign or transfer to any third party, distribute dividends and create or cause any security interest and any liability in whatsoever form to be created on, all or any part of the equity interests it holds in the VIE. This agreement is not terminated until all of the technical support and consulting and service fees have been fully paid under the exclusive business cooperation agreement and all of the VIE’s obligations have been terminated under the other VIE agreements. The Company registered the equity pledges with the relevant office of the administration for industry and commerce in accordance with the PRC Property Rights Law.

Exclusive Business Cooperation Agreement

Pursuant to the exclusive business cooperation agreement entered into by the WFOE and the VIE, the WFOE provides exclusive technical support and consulting services in return for an annual service fee based on a certain percentage of the VIE’s audited total operating income, which is adjustable at the sole discretion of the WFOE. Without the WFOE’s consent, the VIE cannot procure services from any third party or enter into similar service arrangements with any other third party, except for those from the WFOE. In addition, the VIE has granted the WFOE an exclusive right to purchase any or all of the business or assets of the consolidated VIE at the lowest price permitted under PRC laws. This agreement is irrevocable or can only be unilaterally revoked/amended by the WFOE.

Financial Support Agreement

Pursuant to the financial support undertaking letter, the Company is obligated to provide unlimited financial support to the VIE, to the extent permissible under the applicable PRC laws and regulations. The Company will not request repayment of the loans or borrowings if the VIE or its shareholders do not have sufficient funds or are unable to repay.

1Organization and principal activities (continued)

Shareholder Voting Proxy Agreement

The Nominee Shareholders also signed the shareholder voting proxy agreement whereby they granted an irrevocable proxy of the voting rights underlying their respective equity interests in the VIE from the WFOE to the Company, which includes, but are not limited to, all the shareholders’ rights and voting rights empowered to the Nominee Shareholders by the company law and the Company’s Articles of Association.

Accordingly, as a result of the power to direct the activities of the VIE pursuant to the shareholder voting proxy agreement and the obligation to absorb the expected losses of the VIE through the unlimited financial support, the Company is the primary beneficiary of the VIE.

Prior to July 26, 2022, Weidong Luo, founder of the Company, and two other individuals held 80%, 10% and 10 % of the equity interests in the VIE, respectively. On July 26, 2022, the nominee shareholders of the VIE, the two other individuals transferred their equity interests in the VIE to Guangyan Chen, a senior manager of Hexun Huagu (the “Transfer of Shares”). After the Transfer of Shares, 80% and 20% of the equity interests of the VIE are held by Weidong Luo and Guangyan Chen, respectively. On July 26, 2022, the registration of this transfer with the local branch of the State Administration of Industry and Commerce (the “SAIC”) was completed.

In the opinion of the Company’s PRC legal counsel, (i) the ownership structure of the PRC subsidiary and the VIE does not result in any violation of any explicit requirements under any PRC laws and regulations in all material aspects; (ii) each of the contractual arrangements is valid, binding and enforceable in accordance with its terms; and (iii) the execution, delivery and performance of the contractual arrangements do not result in any violation of the provisions of the articles of association and business licenses of the VIE.

However, uncertainties in the PRC legal system could cause the Company’s current ownership structure to be found in violation of existing and/or future PRC laws or regulations and could limit the Company’s ability to enforce its rights under these contractual arrangements. Furthermore, the nominee shareholders of the VIE may have interests that are different than those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the contractual agreements with the VIE.

In addition, if the current structure or any of the contractual arrangements is found to be in violation of any existing or future PRC laws or regulations, the Company could be subject to penalties, which could include, but not be limited to, revocation of business and operating licenses, discontinuing or restricting business operations, restricting the Company’s right to collect revenues, temporary or permanent blocking of the Company’s internet platforms, restructuring of the Company’s operations, imposition of additional conditions or requirements with which the Company may not be able to comply, or other regulatory or enforcement actions against the Company that could be harmful to its business. The imposition of any of these or other penalties could have a material adverse effect on the Company’s ability to conduct its business.

1Organization and principal activities (continued)

The following table set forth the assets and liabilities of the VIE and its subsidiaries included in the Company’s consolidated balance sheets:


	As of December 31,
	2024		2025
	RMB		RMB		US$
ASSETS:
Current assets:
Cash and cash equivalents	84,136		72,919		10,427
Accounts and notes receivable, net	50,032		42,170		6,030
Prepayments and other current assets	11,412		10,940		1,564
Amounts due from the Company and its subsidiaries	232,201		262,240		37,500
Total current assets	377,781		388,269		55,521
Non-current assets:
Property and equipment, net	3,680		2,106		301
Operating lease right-of-use assets	8,879		8,470		1,211
Intangible assets, net	13,765		9,846		1,408
Goodwill	37,785		37,785		5,403
Long-term investments	79,120		78,985		11,295
Deferred tax assets	131		6		1
Other non-current assets	731		648		93
Total non-current assets	144,091		137,846		19,712
Total assets	521,872		526,115		75,233
LIABILITIES:
Current liabilities:
Short-term loan	3,000		—		—
Accounts payable	26,479		32,191		4,603
Deferred revenue and customer deposits	129,918		121,627		17,392
Operating lease liabilities	2,750		2,526		361
Accrued liabilities and other current liabilities	68,349		66,896		9,566
Amounts due to the Company and its subsidiaries	439,818		444,273		63,530
Total current liabilities	670,314		667,513		95,452
Non-current liabilities:
Operating lease liabilities	6,437		6,117		875
Deferred tax liabilities	3,059		1,883		269
Other non-current liabilities	567		450		64
Total non-current liabilities	10,063		8,450		1,208
Total liabilities	680,377		675,963		96,660

1Organization and principal activities (continued)

The table sets forth the results of operations and cash flows of the VIE and its subsidiaries included in the Company’s consolidated statements of comprehensive (loss)/income and cash flows.


	For the years ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Revenues	285,304		306,884		349,192		49,934
Cost of revenues	(82,495)		(93,902)		(105,319)		(15,060)
Net (loss)/income	(45,313)		2,266		7,040		1,007
Net cash provided by/(used in) operating activities	55,921		2,580		(6,025)		(862)
Net cash provided by/(used in) investing activities	22,120		(4,436)		(2,192)		(313)
Net cash (used in)/provided by financing activities	(59,900)		3,000		(3,000)		(429)

There were no pledges or collateralization of the VIE’s assets as of December 31, 2024 and 2025. The amount of net liabilities of the VIE was RMB158,505 and RMB149,848 (US$21,427) as of December 31, 2024 and 2025, respectively. Creditors of the VIE have no recourse to the general credit of the primary beneficiary of the VIE, and such amounts have been parenthetically presented on the face of the consolidated balance sheets. The VIE holds certain assets, including data servers and related equipment for use in their operations. The VIE does not own any facilities except for the rental of certain office premises from third parties under operating lease arrangements. The VIE also holds certain value-added technology licenses, registered copyrights, trademarks and registered domain names, including the official website, which are also considered as revenue-producing assets. However, none of such assets was recorded on the Company’s consolidated balance sheets as such assets were all internally developed and expensed as incurred as they did not meet the capitalization criteria. The Company has not provided any financial or other support that it was not previously contractually required to provide to the VIE during the periods presented.

Share-based compensation - Summary of Total Compensation Costs Recognized (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Share-based compensation
Total	¥ 3,684	$ 527	¥ 4,225	¥ 11,574
Cost of revenue
Share-based compensation
Total			2	3
Research and development
Share-based compensation
Total	407	58	731	2,764
Sales and marketing
Share-based compensation
Total	1,323	189	138	850
General and administrative
Share-based compensation
Total	¥ 1,954	$ 280	¥ 3,354	¥ 7,957

Accounts receivable, net - Schedule of movement in allowance for credit losses (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Accounts receivable, net
Balance at beginning of year	¥ 4,916	$ 703	¥ 5,331
Provisions	3,320	475	1,362
Write-offs	(1,741)	(250)	(1,777)
Balance at end of year	¥ 6,495	$ 928	¥ 4,916

Lease - Schedule of future lease payments under operating leases (Details) - Dec. 31, 2025 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Lease
2026	¥ 4,307	$ 616
2027	3,760	538
2028	3,318	474
2029	3,043	435
2029	1,775	254
Total future lease payments	16,203	2,317
Less: Imputed interest	789	113
Total lease liability balance	¥ 15,414	$ 2,204

Income taxes - Summary of Reconciliation Between Expenses of Income Taxes (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Reconciliation, amount
(Loss)/income before income taxes	¥ 2,647	$ 379	¥ (6,659)	¥ (64,554)
Income tax expense computed at PRC statutory rate (25%)			(1,665)	(16,139)
Statutory tax rate difference between Cayman and PRC			2,080	4,206
Changes in valuation allowance	(7,316)	(1,046)	(44,340)	28,842
Nontaxable or Nondeductible Items
Meals and entertainment	1,627	233
Others	662	95
Other Adjustments
Out of period adjustment	5,176	740
Research and development super-deduction	(1,760)	(252)	(19,403)	(26,393)
Preferential tax rate	(1,230)	(176)	(16,830)	10,613
Deferred tax items tax rate differential			15,283	(6,502)
Non-deductible expenses			2,257	3,438
Deferred tax expenses			1,423	49
Non-taxable income			(3)
Recognition of prior year tax loss			2,156
Deemed income			59,152
Adjustment for tax return amendments	824	118
Income tax expense	¥ 73	$ 10	¥ 110	¥ (1,886)
Tax Jurisdiction of Domicile [Extensible Enumeration]	China	China	China	China
Reconciliation, percent
Changes in Valuation Allowances	(276.00%)	(276.00%)
Nontaxable or Nondeductible Items
Meals and entertainment	61.50%	61.50%
Others	25.00%	25.00%
Other Adjustments
Out of period adjustment	195.30%	195.30%
Research and development super-deduction	(66.50%)	(66.50%)
Preferential tax rate	(46.40%)	(46.40%)
Adjustment for tax return amendments	31.10%	31.10%
Effective tax rate	2.60%	2.60%
China
Reconciliation, amount
Income tax expense computed at PRC statutory rate (25%)	¥ 662	$ 95
Other Adjustments
Others	(384)	(56)
Income tax expense	¥ 394	$ 56
Reconciliation, percent
Income tax expense computed at PRC statutory rate (25%)	25.00%	25.00%	25.00%	25.00%
Statutory tax rate difference between Cayman and PRC	25.00%	25.00%
Other Adjustments
Others	(14.70%)	(14.70%)
Foreign
Other Adjustments
Income tax expense	¥ 467	$ 66
Cayman Islands
Reconciliation, amount
Statutory tax rate difference between Cayman and PRC	¥ 1,489	$ 213
Reconciliation, percent
Statutory tax rate difference between Cayman and PRC	56.20%	56.20%
Other foreign country
Other Adjustments
Others	¥ 323	$ 46
Other Adjustments
Others	12.10%	12.10%

Short-term loan - Additional Information (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2025 CNY (¥)	Mar. 31, 2024 CNY (¥)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2024 CNY (¥)
Short-term loan
Short-term loan						¥ 3,000
Repayments of short term loan	¥ 3,000		¥ 3,000	$ 429	¥ 5,000
Shenzhen Zhongxiaodan Micro Credit Co., Ltd
Short-term loan
Short-term loan		¥ 3,000
Fixed interest rate		4.90%
Loan term (in years)		1 year

Condensed financial information of the parent company - Condensed Statements of Cash Flows (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Condensed Statements of Cash Flows
Net cash (used in)/provided by operating activities	¥ 64,885	$ 9,280	¥ 8,541	¥ (17,907)
Net cash used in investing activities	(7,457)	(1,065)	(5,375)	25,126
Net cash used in financing activities	(8,047)	(1,151)	1,225	(8,651)
Effect of exchange rate changes	(589)	(86)	149	179
Net (decrease)/increase in cash and cash equivalents and restricted cash	48,792	6,978	4,540	(1,253)
Cash, cash equivalents and restricted cash at the beginning of year	119,547	17,094	115,007	116,260
Cash, cash equivalents and restricted cash at the end of year	168,339	24,072	119,547	115,007
Parent Company
Condensed Statements of Cash Flows
Net cash (used in)/provided by operating activities	19,477	2,785	6,282	(23,234)
Net cash used in financing activities	(5,047)	(722)	(1,775)	(3,651)
Effect of exchange rate changes	5,487	785	(4,544)	(3,658)
Net (decrease)/increase in cash and cash equivalents and restricted cash	19,917	2,848	(37)	(30,543)
Cash, cash equivalents and restricted cash at the beginning of year	3,291	471	3,328	33,871
Cash, cash equivalents and restricted cash at the end of year	¥ 23,208	$ 3,319	¥ 3,291	¥ 3,328

Income taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income taxes

Schedule of loss before income taxes


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Cayman Islands	(16,192)		(7,466)		(5,956)		(852)
British Virgin Islands	—		(37)		(83)		(12)
Hong Kong	(1,982)		(2,699)		(1,355)		(194)
Singapore	96		341		3,967		567
Malaysia	—		(253)		(1,905)		(272)
Indonesia	—		—		(43)		(6)
China	(46,476)		3,455		8,022		1,148
Total (loss)/income before income taxes	(64,554)		(6,659)		2,647		379

Schedule of current and deferred portions of income tax benefit/(expense)


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Current income tax expense	(3)		(104)		(1,125)		(160)
Deferred tax benefit/(expense)	1,889		(6)		1,052		150
Total income tax benefit/(expense)	1,886		(110)		(73)		(10)

Schedule of reconciliation between expenses of income taxes


	Year ended December 31,
	2023		2024
	RMB		RMB
Loss before income tax	(64,554)		(6,659)
Income tax expense computed at PRC statutory rate (25%)	(16,139)		(1,665)
International tax rate differential	4,206		2,080
Preferential tax rate	10,613		(16,830)
Deferred tax items tax rate differential	(6,502)		15,283
Research and development super-deduction	(26,393)		(19,403)
Non-deductible expenses	3,438		2,257
Deferred tax expenses	49		1,423
Non-taxable income	—		(3)
Recognition of prior year tax loss	—		2,156
Deemed income	—		59,152
Changes in valuation allowance	28,842		(44,340)
Income tax (benefit)/expense	(1,886)		110


	Year ended December 31,
	2025
	Amount			Percent
	RMB	US$		%
Income tax expense computed at PRC statutory rate (25%)	662	95		25.0
Foreign Tax Effects
Cayman
Statutory tax rate difference between Cayman and PRC	1,489	213		56.2
Other foreign jurisdictions	323	46		12.1
Changes in Valuation Allowances	(7,316)	(1,046)		(276.0)
Nontaxable or Nondeductible Items
Meals and entertainment	1,627	233		61.5
Others	662	95		25.0
Other Adjustments
Out of period adjustment	5,176	740		195.3
Research and development super-deduction	(1,760)	(252)		(66.5)
Preferential tax rate	(1,230)	(176)		(46.4)
Adjustment for tax return amendments	824	118		31.1
Others	(384)	(56)		(14.7)
Income tax expense	73	10		2.6

Schedule of deferred tax assets and liabilities


	As of December 31,
	2024		2025
	RMB		RMB		US$
Deferred tax assets
Provision for credit losses	5,422		5,799		829
Share of loss from equity method investments	113		113		16
Accrued expenses	2,007		1,068		153
Net operating loss carry forward	272,542		254,635		36,412
Government grants related to assets	158		94		13
Estimated liabilities	—		27		4
Lease liabilities	4,231		3,355		480
Data asset	—		11,565		1,654
Less: Valuation allowance	(279,902)		(273,251)		(39,074)
Total deferred tax assets	4,571		3,405		487

Deferred tax liabilities
Property and equipment depreciation	(102)		(53)		(8)
Operating lease right-of-use assets	(4,057)		(3,215)		(459)
Intangible assets arising from acquisition	(3,340)		(2,014)		(288)
Total deferred tax liabilities	(7,499)		(5,282)		(755)

Net deferred tax assets	131		6		1
Net deferred tax liabilities	(3,059)		(1,883)		(269)

Schedule of unrecognized tax benefits


	Year ended December 31,
	2023	2024	2025
	RMB	RMB	RMB	US$
Beginning balance	117	117	117	17
Increase of unrecognized tax benefits taken in prior years	—	—	40,375	5,774
Ending balance	117	117	40,492	5,791

Lease

12 Months Ended

Dec. 31, 2025

Lease

Lease

7Lease

Leases are classified as operating leases or finance leases in accordance with ASC 842. The Company’s operating leases mainly related to office facilities. The Company’s lease agreements include lease payments that are largely fixed, do not contain material residual value guarantees or variable lease payments. The Company’s leases do not contain restrictions or covenants that restrict the Company from incurring other financial obligations. For leases with terms greater than 12 months, the Company records the related asset and lease liability at the present value of lease payments over the term. Certain leases include rental escalation clauses, renewal options and/or termination options, which are factored into the Company’s determination of lease payments when appropriate.

As of December 31, 2024, the weighted average remaining lease term was 4.2 years and weighted average discount rate was 3.61% for the Company’s operating leases. As of December 31, 2025, the weighted average remaining lease term was 4.1 years and weighted average discount rate was 2.44% for the Company’s operating leases.

Operating lease cost for the years ended December 31, 2023, 2024 and 2025 were RMB8,029, RMB5,910 and RMB5,113 (US$731), respectively, which excluded cost of short-term contracts. Short-term lease cost for the years ended December 31, 2023, 2024 and 2025 were RMB231, RMB742 and RMB833 (US$119). For the years ended December 31, 2023, 2024 and 2025, no lease cost for operating leases was capitalized. Supplemental cash flow information related to operating leases was as follows:


	For the year ended December 31
	2023	2024	2025
	RMB	RMB	RMB		US$
Cash payments for operating leases	7,894	5,749	5,203		744
ROU assets obtained in exchange for operating lease liabilities	365	18,632	2,726		390

7Lease (continued)

Future lease payments under operating lease as of December 31, 2025 were as follows:


	Operating lease
	RMB		US$
Year ending December 31,
2026	4,307		616
2027	3,760		538
2028	3,318		474
2029	3,043		435
2030	1,775		254
Thereafter	—		—
Total future lease payments	16,203		2,317
Less: Imputed interest	789		113
Total lease liability balance	15,414		2,204

Related party transactions

12 Months Ended

Dec. 31, 2025

Related party transactions

Related party transactions

18Related party transactions

The table below sets forth the major related parties and their relationships with the Company:


Name of related parties		Relationship
Weidong Luo		Founder, Chief Executive Officer
Guangzhou Tianlang Network Technology Co., Ltd.		Company that is significantly influenced by Weidong Luo

The Company did not have related party balances as of December 31, 2024 and 2025.

The Company did not have related party transactions for the years ended December 31, 2023, 2024 and 2025.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Restricted net assets

12 Months Ended

Dec. 31, 2025

Restricted net assets

Restricted net assets

23Restricted net assets

The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the VIE incorporated in PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The consolidated results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries, the VIE and the subsidiaries of the VIE.

Under PRC law, the Company’s subsidiary, the VIE, and the subsidiaries of the VIE located in the PRC (collectively referred as the “PRC entities”) are required to provide for certain statutory reserves, namely a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. The PRC entities are required to allocate at least 10% of their after tax profits on an individual company basis as determined under PRC accounting standards to the statutory reserve and has the right to discontinue allocations to the statutory reserve if such reserve has reached 50% of registered capital on an individual company basis. In addition, the registered capital of the PRC entities is also restricted.

Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the Board of Directors of the subsidiary. The PRC entities are also subject to similar statutory reserve requirements. These reserves can only be used for specific purposes and are not transferable to the Company in the form of loans, advances or cash dividends.

Amounts of net assets restricted include the paid-in capital and statutory reserve of the Company’s PRC subsidiary and the net assets of the VIE in which the Company has no legal ownership, totaling RMB706,293 (US$100,999) as of December 31, 2025.

Goodwill and Intangible assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible assets

Schedule of intangible assets


	As of December 31,
	2024		2025
	RMB		RMB		US$
Computer software, systems and technology	14,814		15,238		2,179
Brand	10,300		10,300		1,473
Customer relationships	13,800		13,800		1,973
Less: Accumulated amortization	(25,147)		(29,372)		(4,200)
Total intangible assets, net	13,767		9,966		1,425

Schedule of estimated amortization expense related to the existing intangible assets


	RMB		US$
For the year ending December 31, 2026	4,128		590
2027	1,524		218
2028	1,035		148
2029	1,030		147
2030	1,030		147

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies

Basis of presentation

The consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles of the United States (“U.S. GAAP”).

Principles of consolidation

Comparative Information

Certain financial information has been adjusted to conform with the current year’s presentation to facilitate comparison.

Use of estimates

Convenience translation

Foreign currency translation

Transactions in currencies other than the functional currency are remeasured and recorded in the functional currency at the exchange rate prevailing on the transaction date.

Cash and cash equivalents

Restricted cash

Restricted cash balance mainly represents deposits pledged for a bank account.

Short-term investments

The Company’s short-term investments mainly represent equity investments with readily determinable fair value.

Accounts receivable, net

Loans receivable, net

Property and equipment, net

Computer equipment and servers		3 – 5 years

Office furniture and equipment		3 – 5 years

Leasehold improvements		over the shorter of lease terms or estimated useful lives of the assets

Intangible assets


Computer software, systems and technology		1 – 5 years

Brand		10 years

Customer relationship		5 years

Residual values are considered nil.

Impairment of long-lived assets other than goodwill

Goodwill

Impairment of goodwill

Consolidation of noncontrolling interests

Long-term investments

The Company’s long-term investments consist of equity method investments and equity investments without readily determinable fair value.

Equity investments without readily determinable fair value

Equity method investments

Value added taxes ("VAT")

Value added taxes (“VAT”)

Treasury shares

Revenue recognition

SAAS Businesses

For certain arrangements, customers are required to pay the Company before the services are delivered. For other arrangements, the Company provides customers with a credit term under six months.

Other revenue recognition related policies


		As of December 31,
		2024		2025
		RMB		RMB		US$
Contract liabilities		87,064		121,848		17,424

Customer deposits relate to customer’s unused balances that are refundable. Once this balance is utilized by the customer, the corresponding amount would be recognized as revenue.

Costs of revenues

Research and development

Advertising expenses

Government grants

Operating leases

The lease transfers ownership of the underlying asset to the lessee by the end of the lease term.

The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise.

The lease term is for a major part of the remaining economic life of the underlying asset.

The underlying asset is of such a specialized nature that it is expected to have no alternative use to the Company at the end of the lease term.

Employee defined contribution plan

Income taxes

Share-based compensation

Fair value measurements

ASC 820-10, Fair Value Measurements and Disclosures: Overall, establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets

Level 2 — Include other inputs that are directly or indirectly observable in the marketplace

Level 3 — Unobservable inputs which are supported by little or no market activity

Comprehensive (loss)/income

(Loss)/earnings per share

Concentration of risks

Concentration of credit risk

Financial assets that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and accounts receivable.

Concentration of suppliers

Approximately 27.8%, 48.15% and 41.91% of advertising costs were paid to three suppliers for the years ended December 31, 2023, 2024 and 2025, respectively.

Business and economic risk

Currency convertibility risk

Foreign currency exchange rate risk

Segment information

Recently adopted and issued accounting pronouncements

Recently Adopted Accounting Pronouncements

Recently issued accounting pronouncements

Short-term investments (Tables)

12 Months Ended

Dec. 31, 2025

Short-term investments

Schedule of short-term investments classification

As of December 31, 2025

Gross

unrecognized

Cost

holding gains

holding losses

gains

losses

Fair value

RMB

USD

RMB

USD

Equity investments with readily determinable fair value

5,000

715

—

5,090

728

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies

Schedule of estimated useful lives of property and equipment

Computer equipment and servers		3 – 5 years

Office furniture and equipment		3 – 5 years

Leasehold improvements		over the shorter of lease terms or estimated useful lives of the assets

Schedule of estimated economic lives of intangible assets


Computer software, systems and technology		1 – 5 years

Brand		10 years

Customer relationship		5 years

Schedule of contract liabilities


		As of December 31,
		2024		2025
		RMB		RMB		US$
Contract liabilities		87,064		121,848		17,424

Organization and principal activities (Tables)

12 Months Ended

Dec. 31, 2025

Organization and principal activities

Schedule of assets and liabilities of the VIE and its subsidiaries


	As of December 31,
	2024		2025
	RMB		RMB		US$
ASSETS:
Current assets:
Cash and cash equivalents	84,136		72,919		10,427
Accounts and notes receivable, net	50,032		42,170		6,030
Prepayments and other current assets	11,412		10,940		1,564
Amounts due from the Company and its subsidiaries	232,201		262,240		37,500
Total current assets	377,781		388,269		55,521
Non-current assets:
Property and equipment, net	3,680		2,106		301
Operating lease right-of-use assets	8,879		8,470		1,211
Intangible assets, net	13,765		9,846		1,408
Goodwill	37,785		37,785		5,403
Long-term investments	79,120		78,985		11,295
Deferred tax assets	131		6		1
Other non-current assets	731		648		93
Total non-current assets	144,091		137,846		19,712
Total assets	521,872		526,115		75,233
LIABILITIES:
Current liabilities:
Short-term loan	3,000		—		—
Accounts payable	26,479		32,191		4,603
Deferred revenue and customer deposits	129,918		121,627		17,392
Operating lease liabilities	2,750		2,526		361
Accrued liabilities and other current liabilities	68,349		66,896		9,566
Amounts due to the Company and its subsidiaries	439,818		444,273		63,530
Total current liabilities	670,314		667,513		95,452
Non-current liabilities:
Operating lease liabilities	6,437		6,117		875
Deferred tax liabilities	3,059		1,883		269
Other non-current liabilities	567		450		64
Total non-current liabilities	10,063		8,450		1,208
Total liabilities	680,377		675,963		96,660

Schedule of results of comprehensive (loss)/income and cash flows of VIE and subsidiaries


	For the years ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Revenues	285,304		306,884		349,192		49,934
Cost of revenues	(82,495)		(93,902)		(105,319)		(15,060)
Net (loss)/income	(45,313)		2,266		7,040		1,007
Net cash provided by/(used in) operating activities	55,921		2,580		(6,025)		(862)
Net cash provided by/(used in) investing activities	22,120		(4,436)		(2,192)		(313)
Net cash (used in)/provided by financing activities	(59,900)		3,000		(3,000)		(429)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Accrued liabilities and other current liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Accrued liabilities and other current liabilities.
Accrued payroll and welfare payables	¥ 46,473	$ 6,646	¥ 36,860
Payable for business acquisition	14,188	2,029	16,338
Other taxes and surcharges	9,527	1,362	11,096
Service fees	5,795	829	4,514
Income tax payable	829	119	59
Government grants subject to deferral or return	628	90	2,628
Others	3,499	499	2,875
Total accrued liabilities and other current liabilities	¥ 80,939	$ 11,574	¥ 74,370

Accounts receivable, net

12 Months Ended

Dec. 31, 2025

Accounts receivable, net

Accounts receivable, net

3Accounts receivable, net


	As of December 31,
	2024		2025
	RMB		RMB		US$
Accounts receivable	55,720		49,723		7,110
Less: allowance for credit losses	(4,916)		(6,495)		(928)
Total accounts receivable, net	50,804		43,228		6,182

The following table presents the movement in the allowance for credit losses:


	2024		2025
	RMB		RMB		US$
Balance at beginning of year	5,331		4,916		703
Provisions	1,362		3,320		475
Write-offs	(1,777)		(1,741)		(250)
Balance at end of year	4,916		6,495		928

Pay vs Performance Disclosure ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Pay vs Performance Disclosure
Net Income (Loss)	¥ 423	$ 61	¥ (7,046)	¥ (62,098)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2025

Property and equipment, net

Schedule of Property and Equipment


	As of December 31,
	2024		2025
	RMB		RMB		US$
Computer equipment and servers	5,559		2,826		404
Office furniture and equipment	4,067		3,620		518
Leasehold improvements	2,388		2,492		356
Less: Accumulated depreciation and impairment	(7,441)		(6,140)		(878)
Total property and equipment, net	4,573		2,798		400

Accrued liabilities and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Accrued liabilities and other current liabilities.

Schedule of accrued liabilities and other current liabilities


		As of December 31,
		2024		2025
		RMB		RMB		US$
Accrued payroll and welfare payables		36,860		46,473		6,646
Payable for business acquisition	(i)	16,338		14,188		2,029
Other taxes and surcharges		11,096		9,527		1,362
Service fees		4,514		5,795		829
Income tax payable		59		829		119
Government grants subject to deferral or return		2,628		628		90
Others		2,875		3,499		499
Total accrued liabilities and other current liabilities		74,370		80,939		11,574

(i)

The balance represents the remaining unpaid cash consideration from the acquisition of SendCloud.

Subsequent Event

12 Months Ended

Dec. 31, 2025

Subsequent Event

Subsequent Event

22Subsequent Event

On February 11, 2026, the Company issued a warrant (the “Warrant”) to an institutional investor (the “Investor”). Pursuant to the terms of the Warrant, the Investor has the right to purchase up to 9,666,666 common shares (representing approximately 725,000 ADSs) of the Company at an initial exercise price of US$1.035 per common share (translating to US$13.8 per ADS), subject to adjustments.

Income taxes - Summary of Deferred Tax Assets and Liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Deferred tax assets
Provision for credit losses	¥ 5,799	$ 829	¥ 5,422
Share of loss from equity method investments	113	16	113
Accrued expenses	1,068	153	2,007
Net operating loss carry forward	254,635	36,412	272,542
Government grants related to assets	94	13	158
Estimated liabilities	27	4
Lease liabilities	3,355	480	4,231
Data asset	11,565	1,654
Less: Valuation allowance	(273,251)	(39,074)	(279,902)
Total deferred tax assets	3,405	487	4,571
Deferred tax liabilities
Property and equipment depreciation	(53)	(8)	(102)
Operating lease right-of-use assets	(3,215)	(459)	(4,057)
Intangible assets arising from acquisition	(2,014)	(288)	(3,340)
Total deferred tax liabilities	(5,282)	(755)	(7,499)
Net deferred tax assets	6	1	131
Net deferred tax liabilities	¥ (1,883)	$ (269)	¥ (3,059)

Accounts receivable, net - Schedule of accounts receivable (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Accounts receivable, net
Accounts receivable	¥ 49,723	$ 7,110	¥ 55,720
Less: allowance for credit losses	(6,495)	(928)	(4,916)
Total accounts receivable, net	¥ 43,228	$ 6,182	¥ 50,804

Property and equipment, net - Schedule of property and equipment (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Property and equipment, net
Less: Accumulated depreciation and impairment	¥ (6,140)	$ (878)	¥ (7,441)
Total property and equipment, net	2,798	400	4,573
Computer equipment and servers
Property and equipment, net
Property and equipment, gross	2,826	404	5,559
Office furniture and equipment
Property and equipment, net
Property and equipment, gross	3,620	518	4,067
Leasehold improvements
Property and equipment, net
Property and equipment, gross	¥ 2,492	$ 356	¥ 2,388

Share capital

12 Months Ended

Dec. 31, 2025

Share capital

Share capital

17Share capital

During the year ended December 31, 2023, the Company had repurchased under the 2022 Repurchase Plan and 2023 Repurchase Plan an aggregate of 127,987 ADSs, representing 1,706,493 Class A common shares.

During the year ended December 31, 2024, the Company had repurchased under the 2023 Repurchase Plan an aggregate of 91,166 ADSs, representing 1,215,547 Class A common shares.

During the year ended December 31, 2025, the Company had repurchased under the 2025 Repurchase Plan an aggregate of 120,825 ADSs, representing 1,611,000 Class A common shares. As of December 31, 2025, the Company has no plan for cancellation of these repurchased shares. These shares were recorded at their purchase price on the consolidated balance sheets.

As at December 31, 2024, there were 63,041,500 and 17,000,189 Class A and Class B common shares outstanding respectively.

As at December 31, 2025, there were 62,971,166 and 17,000,189 Class A and Class B common shares outstanding respectively.

Every three of ADSs represent forty Class A common shares.

Basic and diluted (loss)/earnings per share is calculated as follows:


	For the year ended				For the year ended
	December 31, 2023				December 31, 2024				For the year ended December 31, 2025
	Class A		Class B		Class A		Class B		Class A				Class B
	RMB		RMB		RMB		RMB		RMB		US$		RMB		US$
Numerator:
Net (loss)/income attributable to common shareholders	(48,851)		(13,247)		(5,545)		(1,501)		334		48		89		13
Denominator:
Weighted average number of shares used in calculating basic and diluted (loss)/earnings per share	62,688,838		17,000,189		62,802,678		17,000,189		63,357,628		63,357,628		17,000,189		17,000,189
Basic and diluted (loss)/earnings per share	(0.78)		(0.78)		(0.09)		(0.09)		0.01		0.00		0.01		0.00

For the years ended December 31, 2023, 2024 and 2025, the two-class method is applicable because the Company has Class A and Class B common shares outstanding, and both classes have contractual rights with regards to dividends and distributions upon liquidation of the Company.

The effect of certain outstanding share options and restricted share units were excluded accordingly from the computation of diluted (loss)/earnings per share for the years ended December 31, 2023, 2024 and 2025 as their effects would be anti-dilutive.

- Definition

The entire disclosure for equity.

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+ Details

Share capital (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Class A Common Shares
Numerator:
Net (loss)/income attributable to common shareholders	¥ 334	$ 48	¥ (5,545)	¥ (48,851)
Denominator:
Weighted average number of shares used in calculating basic loss per share	63,357,628	63,357,628	62,802,678	62,688,838
Weighted average number of shares used in calculating diluted loss per share	63,357,628	63,357,628	62,802,678	62,688,838
Basic loss per share \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Diluted loss per share \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Class B Common Shares
Numerator:
Net (loss)/income attributable to common shareholders	¥ 89	$ 13	¥ (1,501)	¥ (13,247)
Denominator:
Weighted average number of shares used in calculating basic loss per share	17,000,189	17,000,189	17,000,189	17,000,189
Weighted average number of shares used in calculating diluted loss per share	17,000,189	17,000,189	17,000,189	17,000,189
Basic loss per share \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Diluted loss per share \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-Topic 260
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-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

+ Details

Prepayments and other current assets (Tables)

12 Months Ended

Dec. 31, 2025

Prepayments and other current assets

Schedule of prepayments and other current assets


	As of December 31,
	2024		2025
	RMB		RMB		US$
Prepaid service fee	8,049		6,692		957
VAT and other surcharges	2,641		2,590		370
Deferred offering expenses	—		1,748		250
Office rental deposit	493		467		67
Other deposits	950		1,152		165
Contract assets	353		479		68
Prepaid media cost	736		972		139
Receivables from sales of shares on behalf of employees	67		15		2
Others	975		1,191		170
Total prepayments and other current assets	14,264		15,306		2,188

Prepayments and other current assets - Schedule of prepayment and other current assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Prepayments and other current assets
Prepaid service fee	¥ 6,692	$ 957	¥ 8,049
VAT and other surcharges	2,590	370	2,641
Deferred offering expenses	1,748	250
Office rental deposit	467	67	493
Other deposits	1,152	165	950
Contract assets	479	68	353
Prepaid media cost	972	139	736
Receivables from sales of shares on behalf of employees	15	2	67
Others	1,191	170	975
Total prepayments and other current assets	¥ 15,306	$ 2,188	¥ 14,264

Share capital (Tables)

12 Months Ended

Dec. 31, 2025

Share capital

Basic and diluted loss per share


	For the year ended				For the year ended
	December 31, 2023				December 31, 2024				For the year ended December 31, 2025
	Class A		Class B		Class A		Class B		Class A				Class B
	RMB		RMB		RMB		RMB		RMB		US$		RMB		US$
Numerator:
Net (loss)/income attributable to common shareholders	(48,851)		(13,247)		(5,545)		(1,501)		334		48		89		13
Denominator:
Weighted average number of shares used in calculating basic and diluted (loss)/earnings per share	62,688,838		17,000,189		62,802,678		17,000,189		63,357,628		63,357,628		17,000,189		17,000,189
Basic and diluted (loss)/earnings per share	(0.78)		(0.78)		(0.09)		(0.09)		0.01		0.00		0.01		0.00

Short-term loan

12 Months Ended

Dec. 31, 2025

Short-term loan

Short-term loan

10Short-term loan


	As of December 31,
	2024		2025
	RMB		RMB		US$
Short-term bank borrowings	3,000		—		—

In March 2024, the Company borrowed a RMB denominated loan of RMB3,000 with a fixed interest rate of 4.9% for a one-year term from Shenzhen Zhongxiaodan Micro Credit Co., Ltd. The short-term loan of RMB3,000 was fully repaid in March 2025.

Short-term loan (Tables)

12 Months Ended

Dec. 31, 2025

Short-term loan

Schedule of short-term debt


	As of December 31,
	2024		2025
	RMB		RMB		US$
Short-term bank borrowings	3,000		—		—

Summary of Significant Accounting Policies - Schedule of estimated useful lives of property and equipment (Details)	Dec. 31, 2025
Leasehold improvements
Summary of Significant Accounting Policies
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember
Minimum \| Computer equipment and servers
Summary of Significant Accounting Policies
Estimated useful lives	3 years
Minimum \| Office furniture and equipment
Summary of Significant Accounting Policies
Estimated useful lives	3 years
Maximum \| Computer equipment and servers
Summary of Significant Accounting Policies
Estimated useful lives	5 years
Maximum \| Office furniture and equipment
Summary of Significant Accounting Policies
Estimated useful lives	5 years

Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair value measurements

Summary of assets and liabilities measured or disclosed at fair value


				Fair value measurement at December 31, 2025 using
						Significant
				Quoted prices in		other
		Total Fair		active markets		observable		Significant
		Value at		for identical		inputs		unobservable		Fair value
		December 31, 2025		assets (Level 1)		(Level 2)		inputs (Level 3)		adjustment
		RMB		RMB		RMB		RMB		RMB
Fair value measurements on a recurring basis:
Equity investment with readily determinable fair value		5,090		—		5,090		—		90
Total assets measured at fair value		5,090		—		5,090		—		90

Condensed financial information of the parent company - Condensed Balance Sheets (Parenthetical) (Details) - $ / shares	Dec. 31, 2025	Dec. 31, 2024
Class A Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	4,920,000,000	4,920,000,000
Common shares, shares issued	62,971,166	63,041,500
Common shares, shares outstanding	62,971,166	63,041,500
Treasury stock, common, shares	1,415,422	442,915
Class B Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	30,000,000	30,000,000
Common shares, shares issued	17,000,189	17,000,189
Common shares, shares outstanding	17,000,189	17,000,189
Parent Company \| Class A Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	4,920,000,000	4,920,000,000
Common shares, shares issued	62,971,166	63,041,500
Common shares, shares outstanding	62,971,166	63,041,500
Treasury stock, common, shares	1,415,422	442,915
Parent Company \| Class B Common Shares
Condensed Balance Sheets
Common shares, par value per share	$ 0.0001	$ 0.0001
Common shares, shares authorized	30,000,000	30,000,000
Common shares, shares issued	17,000,189	17,000,189
Common shares, shares outstanding	17,000,189	17,000,189

Organization and principal activities - Additional information (Details) ¥ in Thousands, $ in Thousands	Jul. 26, 2022	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Weidong Luo
Organization and principal activities
Variable Interest Entity, Ownership Percentage	80.00%
Xiaodao Wang
Organization and principal activities
Variable Interest Entity, Ownership Percentage	10.00%
Jiawen Fang
Organization and principal activities
Variable Interest Entity, Ownership Percentage	10.00%
Guangyan Chen
Organization and principal activities
Variable Interest Entity, Ownership Percentage	20.00%
VIE
Organization and principal activities
Net liabilities		¥ 149,848	$ 21,427	¥ 158,505
Cash Collateral		¥ 0	$ 0	¥ 0
Variable Interest Entity, Asset, Pledged Status [Extensible Enumeration]		us-gaap:AssetNotPledgedAsCollateralMember	us-gaap:AssetNotPledgedAsCollateralMember	us-gaap:AssetNotPledgedAsCollateralMember

Revenues (Tables)

12 Months Ended

Dec. 31, 2025

Revenues

Schedule of revenues


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Developer Services:
Subscription	173,523		196,813		226,338		32,366
Value-Added Services	31,129		32,825		40,918		5,851
Vertical Applications	85,580		86,532		107,591		15,385
Total revenues	290,232		316,170		374,847		53,602

Long-term investments

12 Months Ended

Dec. 31, 2025

Long-term investments.

Long-term investments

9Long-term investments

Equity investments without readily determinable fair value

As of December 31, 2024, the carrying amount of the Company’s equity investments was RMB113,506.

As of December 31, 2025, the carrying amount of the Company’s equity investments was RMB112,609 (US$16,103).

In 2023, the Company disposed of its 2.5698% equity ownership of a non-listed company for a total consideration of RMB10,279 and recognized a disposal loss of RMB10,754, after which the Company no longer held the non-listed company’s equity ownership.

Impairment charges recognized on equity investments without readily determinable fair value was RMB8,505, nil and nil for the years ended December 31, 2023, 2024 and 2025.

Equity method investments

In 2023, the Company acquired a 15% of equity interest in a non-listed company and has significant influence as it holds one seat out of the five board seats of the equity investee. The Company recognized its share of losses in the investee of RMB450 for the year ended December 31, 2023 and the carrying amount of the equity method investment was nil as of December 31, 2024 and 2025.

Income taxes - Changes in the balance of gross unrecognized tax benefits (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Income taxes
Beginning balance	¥ 117	$ 17	¥ 117	¥ 117
Increase of unrecognized tax benefits taken in prior years	40,375	5,774	0	0
Ending balance	¥ 40,492	$ 5,791	¥ 117	¥ 117

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2025 shares
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Entity Registrant Name	Aurora Mobile Limited
Entity Central Index Key	0001737339
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38587
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	31/F, Block 12-A, Shenzhen Bay Science and Technology Ecological Park
Entity Address, City or Town	Nanshan District
Entity Address, Postal Zip Code	518057
Entity Address, Country	CN
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2025
Amendment Flag	false
Auditor Name	Ernst & Young Hua Ming LLP
Auditor Location	Shenzhen, The People’s Republic of China
Auditor Firm ID	1408
Business Contact [Member]
Document and Entity Information
Contact Personnel Name	Shan-Nen Bong
Entity Address, Address Line One	31/F, Block 12-A, Shenzhen Bay Science and Technology Ecological Park,
Entity Address, City or Town	Nanshan District
Entity Address, Postal Zip Code	518057
Entity Address, Country	CN
City Area Code	86
Local Phone Number	755-8388-1462
Contact Personnel Email Address	bongsn@jiguang.cn
American Depositary Shares
Document and Entity Information
Title of 12(b) Security	American depositary shares, every 3 of which represent 40 Class A common shares
Trading Symbol	JG
Security Exchange Name	NASDAQ
Class A Common Shares
Document and Entity Information
Title of 12(b) Security	Class A common shares, par value US$0.0001 per share*
No Trading Symbol Flag	true
Entity Common Stock, Shares Outstanding	62,971,166
Class B Common Shares
Document and Entity Information
Entity Common Stock, Shares Outstanding	17,000,189

Restricted net assets (Details) - 12 months ended Dec. 31, 2025 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Restricted net assets
Threshold limit percentage of registered capital	50.00%
Amounts of net assets restricted	¥ 706,293	$ 100,999
Minimum
Restricted net assets
Minimum percentage of net profit to be allocated to statutory reserve fund	10.00%

Other non-current liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Other non-current liabilities

Schedule of Other non-current liabilities


	As of December 31,
	2024	2025
	RMB	RMB	US$
Payable to equity method investee	450	450	64
Others	117	—	—
Total other non-current liabilities	567	450	64

Accrued liabilities and other current liabilities

12 Months Ended

Dec. 31, 2025

Accrued liabilities and other current liabilities.

Accrued liabilities and other current liabilities

12Accrued liabilities and other current liabilities

Accrued liabilities and other current liabilities consist of the following:


		As of December 31,
		2024		2025
		RMB		RMB		US$
Accrued payroll and welfare payables		36,860		46,473		6,646
Payable for business acquisition	(i)	16,338		14,188		2,029
Other taxes and surcharges		11,096		9,527		1,362
Service fees		4,514		5,795		829
Income tax payable		59		829		119
Government grants subject to deferral or return		2,628		628		90
Others		2,875		3,499		499
Total accrued liabilities and other current liabilities		74,370		80,939		11,574

(i)

The balance represents the remaining unpaid cash consideration from the acquisition of SendCloud.

Share-based compensation - Schedule of Assumptions Used to Estimate Fair Values of Share Options Granted (Details) - ¥ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based compensation
Dividend yield	0.00%	0.00%	0.00%
Employee Stock Option
Share-based compensation
Risk-free interest rate, minimum	4.19%	3.88%	3.45%
Risk-free interest rate, maximum	4.24%
Expected volatility, minimum	59.61%	57.25%	56.55%
Expected volatility, maximum	60.01%
Weighted average expected volatility	59.83%	57.25%	56.55%
Minimum \| Employee Stock Option
Share-based compensation
Expected exercise multiple	¥ 2.5	¥ 2.5	¥ 2.5
Maximum \| Employee Stock Option
Share-based compensation
Expected exercise multiple	¥ 2.8	¥ 2.8

Related party transactions (Tables)

12 Months Ended

Dec. 31, 2025

Related party transactions

Schedule of major related parties and their relationships with the Company


Name of related parties		Relationship
Weidong Luo		Founder, Chief Executive Officer
Guangzhou Tianlang Network Technology Co., Ltd.		Company that is significantly influenced by Weidong Luo

Commitments and contingencies

12 Months Ended

Dec. 31, 2025

Commitments and contingencies

Commitments and contingencies

16Commitments and contingencies

Capital commitments

As of December 31, 2025, the Company did not have any non-cancellable purchase commitments.

Lease (Tables)

12 Months Ended

Dec. 31, 2025

Lease

Schedule of supplemental cash flow information related to leases


	For the year ended December 31
	2023	2024	2025
	RMB	RMB	RMB		US$
Cash payments for operating leases	7,894	5,749	5,203		744
ROU assets obtained in exchange for operating lease liabilities	365	18,632	2,726		390

Schedule of future lease payments under operating leases

Future lease payments under operating lease as of December 31, 2025 were as follows:


	Operating lease
	RMB		US$
Year ending December 31,
2026	4,307		616
2027	3,760		538
2028	3,318		474
2029	3,043		435
2030	1,775		254
Thereafter	—		—
Total future lease payments	16,203		2,317
Less: Imputed interest	789		113
Total lease liability balance	15,414		2,204

Deferred revenue and customer deposits (Tables)

12 Months Ended

Dec. 31, 2025

Deferred revenue and customer deposits

Schedule of deferred revenue by arrangement


	As of December 31,
	2024		2025
	RMB		RMB		US$
Deferred revenue	87,070		121,848		17,424
Customer deposits	60,041		56,802		8,123
Total deferred revenue and customer deposits – current	147,111		178,650		25,547

Other non-current liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Other non-current liabilities
Payable to equity method investee	¥ 450	$ 64	¥ 450
Others			117
Total other non-current liabilities	¥ 450	$ 64	¥ 567

Share-based compensation

12 Months Ended

Dec. 31, 2025

Share-based compensation.

Share-based compensation

13Share-based compensation

Share option and restricted share unit plans

2014 Incentive Plan

On July 23 2014, the Company’s board of directors and shareholders approved the 2014 Incentive Plan (the “2014 Plan”). Awards under the 2014 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 5,500,000 common shares for issuance under the 2014 Plan. As of December 31, 2025, there were no shares remain available for grant under the 2014 Plan as the 2014 Plan has expired. For the years ended December 31, 2025, the Company has extended the terms of 306,828 awards that have been vested but not exercised under the 2014 Plan for additional periods. The impact of this modification is not significant.

2017 Incentive Plan

On March 1, 2017, the Company’s board of directors and shareholders approved the 2017 Incentive Plan (the “2017 Plan”). Awards under the 2017 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 6,015,137 common shares for issuance under the 2017 Plan. As of December 31, 2025, 2,867 shares remain available of grant under the 2017 Plan.

2021 Incentive Plan

In December 2021, the Company’s board of directors and shareholders approved the 2021 Incentive Plan (the “2021 Plan”). Awards under the 2021 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 4,000,000 common shares for issuance under the 2021 Plan. As of December 31, 2025, 1,960 shares remain available of grant under the 2021 Plan.

2023 Incentive Plan

In September 2023, the Company’s board of directors and shareholders approved the 2023 Incentive Plan (the “2023 Plan”). Awards under the 2023 Plan vest up to 4 years from the date of grant and expire no more than 10 years after the grant date. The Company reserved a total of 4,000,000 common shares for issuance under the 2023 Plan. As of December 31, 2025, 2,439,067 shares remain available of grant under the 2023 Plan.

The exercise price, vesting and other conditions of individual awards are determined by the board of directors or any of the committees appointed by the board of directors to administer the 2014, 2017, 2021 and 2023 Incentive Plans. Upon the termination of the Grantee’s continuous service, the Company has the right to repurchase the vested award or shares obtained.

13Share-based compensation (continued)

Share option and restricted share unit plans (continued)

Share options

The following table summarizes the share option activity for the Company’s Incentive Plans for the year ended December 31, 2025:


							Weighted
					Weighted-		Average
			Weighted-		Average		Remaining
			Average		grant-date		Contractual		Aggregate
	Number of		Exercise		Fair Value		Term		Intrinsic
Options Granted to Employees and Directors	Options		Price		per Option		(Years)		Value
			RMB		RMB				RMB
Outstanding, December 31, 2024	8,794,368		8.65		12.58		5.39		12,923
Granted	522,066		—		3.62		—		—
Forfeited	—		—		—		—		—
Expired	40,227		16.08		20.23		—		—
Exercised	970,693		3.07		5.59		—		—
Cancelled	—		—		—		—		—
Outstanding, December 31, 2025	8,305,514		8.72		12.8		4.67		11,738
Vested and expected to vest as of December 31, 2025	8,305,514		8.72		12.8		4.67		11,738
Vested as of December 31, 2025	8,083,840		9.21		13.47		4.62		11,006

The aggregate intrinsic value in the table above represents the difference between the closing stock price on the last trading day in 2024 and 2025 and the option’s respective exercise price.

The weighted average grant date fair value of the share options granted during the years ended December 31, 2023, 2024 and 2025 were RMB3.23, RMB2.04 and RMB3.62 (US$0.52), respectively.

The aggregate unrecognized share-based compensation expense was RMB88 (US$13) as of December 31, 2025, which the Company expects to recognize over an estimated weighted-average period of 0.29 years.

13Share-based compensation (continued)

Share option and restricted share unit plans (continued)

Share options (continued)

The Company estimates the fair value of each award on grant date using the binomial option pricing model. The binominal model requires the input of highly subjective assumptions, including the expected share price volatility and the suboptimal early exercise factor. For expected volatility, the Company has made reference to historical volatilities of several comparable companies. The suboptimal early exercise factor was estimated based on the Company’s expectation of exercise behavior of the grantees. The risk-free rate for periods within the contractual life of the options is based on the market yield of U.S. Treasury Bonds in effect at the time of grant. Subsequent to the IPO, fair value of the common shares is the price of the Company’s publicly traded shares. The Company’s management is ultimately responsible for the determination of the estimated fair value of its common shares.

The Company recognizes share-based compensation expense using the accelerated recognition method over the requisite service period, which is generally subject to graded vesting.

The following table presents assumptions used to estimate the fair values of share options granted for the years ended December 31, 2023, 2024 and 2025:


	2023		2024		2025
Risk-free interest rate	3.45%		3.88%		4.19%-4.24%
Dividend yield	0%		0%		0%
Expected volatility	56.55%		57.25%		59.61%-60.01%
Weighted average expected volatility	56.55%		57.25%		59.83%
Expected exercise multiple	2.5		2.5-2.8		2.5-2.8

(i)	Risk-free interest rate – The risk-free interest rate for periods within the contractual life of the options is based on the US Treasury yield curve in effect at the time of the grant for a term consistent with the contractual term of the awards.

(ii)	Dividend yield – The dividend yield is estimated based on the Company’s expected dividend policy over the expected term of the options.

(iii)

Expected volatility – Expected volatility is estimated based on the historical volatility of common shares of several comparable publicly-traded companies in the same industry.

(iv)	Expected exercise multiple – Expected exercise multiple is estimated based on changes in expected intrinsic value of the option and the likelihood of early exercise by employees.

13Share-based compensation (continued)

Share option and restricted share unit plans (continued)

Restricted share units

Starting from 2018, the Company granted restricted Class A common shares of the Company (“Restricted Shares”).

A summary of the restricted share units for the year ended December 31, 2025 was stated below:


			Weighted-		Weighted
			Average		Average
			grant-date		Remaining
	Number of		Fair Value		Contractual		Aggregate
	Share		per Restricted		Term		Intrinsic
Restricted Share Units Granted to Employees and Directors	Units		Share Unit		(Years)		Value
			RMB				RMB
Outstanding, December 31, 2024	273,654		1.84		9.66		1,042
Granted	273,605		5.33		—		—
Forfeited	—		—		—		—
Expired	—		—		—		—
Vested	273,613		—		—		—
Cancelled	—		—		—		—
Outstanding, December 31, 2025	273,646		7.16		9.59		904
Vested and expected to vest as of December 31, 2025	273,646		7.16		9.59		904

The weighted average grant-date fair value per restricted share unit granted for the years ended December 31, 2023, 2024 and 2025 were RMB1.74, RMB2.04 and RMB5.33 (US$0.76), respectively.

As of December 31, 2025, there was RMB837 (US$120) of unrecognized share-based compensation cost related to restricted shares units, which the Company expects to recognize over an estimated weighted-average period of 0.58 year.

The aggregate fair value of options and restricted share units vested and recognized as expenses for the years ended December 31, 2023, 2024 and 2025 were RMB11,574, RMB4,225 and RMB3,684 (US$527), respectively.

Total intrinsic value of options and restricted share units exercised/vested for the years ended December 31, 2023, 2024 and 2025 were RMB2,976, RMB5,796 and RMB4,734 (US$677), respectively.

Total compensation costs recognized for the years ended December 31, 2023, 2024 and 2025 were as follows:


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Cost of revenue	3		2		—		—
Research and development	2,764		731		407		58
Sales and marketing	850		138		1,323		189
General and administrative	7,957		3,354		1,954		280
Total	11,574		4,225		3,684		527

Condensed financial information of the parent company

12 Months Ended

Dec. 31, 2025

Condensed financial information of the parent company

Condensed financial information of the parent company

24Condensed financial information of the parent company

Basis of presentation

For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries and the VIE under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “ Long-term investments” and the subsidiaries’ and VIE’s (loss)/income as “Share of (loss)/income of the subsidiaries and VIE” on the condensed statements of comprehensive loss.

The subsidiaries did not pay any dividends to the Company for the periods presented.

The Company does not have significant commitments or long-term obligations as of the period end other than those presented.

The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.

24Condensed financial information of the parent company (continued)

Condensed Balance Sheets


	As of December 31
	2024		2025
	RMB		RMB		US$
ASSETS:
Current assets:
Cash and cash equivalents	3,291		23,208		3,319
Due from the entities within the Group	10,592		10,383		1,485
Prepayments and other current assets	6,893		8,312		1,189
Total current assets	20,776		41,903		5,993
Non-current assets:
Long-term investments	304,090		306,164		43,781
Other non-current assets	5,130		5,016		717
Total non-current assets	309,220		311,180		44,498
Total assets	329,996		353,083		50,491
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued liabilities and other current liabilities	2,342		3,633		520
Due to the entities within the Group	259,732		283,652		40,562
Total current liabilities	262,074		287,285		41,082
Total liabilities	262,074		287,285		41,082

24Condensed financial information of the parent company (continued)

Condensed Balance Sheets (continued)


	As of December 31
	2024		2025
	RMB		RMB		US$
Shareholders’ equity
Class A common shares (par value of US$0.0001 per share as of December 31, 2024 and 2025; 4,920,000,000 shares authorized as of December 31, 2024 and 2025, 63,041,500 shares and 62,971,166 shares issued and outstanding as of December 31, 2024 and 2025, respectively)	39		40		5
Class B common shares (par value of US$0.0001 per share as of December 31, 2024 and 2025; 30,000,000 shares authorized as of December 31, 2024 and 2025, 17,000,189 shares and 17,000,189 shares issued and outstanding as of December 31, 2024 and 2025)	11		11		2
Treasury shares (442,915 and 1,415,422 class A common shares as of December 31, 2024 and 2025, respectively)	(1,674)		(6,430)		(919)
Additional paid-in capital	1,045,221		1,049,029		150,009
Accumulated deficit	(995,715)		(995,292)		(142,325)
Accumulated other comprehensive income	20,040		18,440		2,637
Total shareholders’ equity	67,922		65,798		9,409
Total liabilities and shareholders’ equity	329,996		353,083		50,491

24Condensed financial information of the parent company (continued)

Condensed Statements of Comprehensive Loss


	Years ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Revenues	—		—		—		—
Cost of revenues	—		—		—		—
Gross profit	—		—		—		—
Operating expenses	—		—		—		—
Research and development	—		—		—		—
Sales and marketing	(517)		(416)		(764)		(109)
General and administrative	(11,430)		(7,018)		(5,499)		(786)
Share of (loss)/income of the subsidiaries and VIE	(45,933)		373		6,340		907
Total operating expenses	(57,880)		(7,061)		77		12
(Loss)/income from operations	(57,880)		(7,061)		77		12
Foreign exchange (loss)/gain, net	(61)		(6)		2		—
Interest income	34		21		344		49
Other loss	(4,191)		—		—		—
(Loss)/income before income taxes	(62,098)		(7,046)		423		61
Income tax expenses	—		—		—		—
Net (loss)/income	(62,098)		(7,046)		423		61
Net (loss)/income attributable to common shareholders	(62,098)		(7,046)		423		61
Other comprehensive income/(loss)	—		—		—		—
Foreign currency translation adjustments	919		817		(1,600)		(229)
Total other comprehensive income/(loss), net of tax	919		817		(1,600)		(229)
Comprehensive loss	(61,179)		(6,229)		(1,177)		(168)

24Condensed financial information of the parent company (continued)

Condensed Statements of Cash Flows


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Net cash (used in)/provided by operating activities	(23,234)		6,282		19,477		2,785
Net cash used in investing activities	—		—		—		—
Net cash used in financing activities	(3,651)		(1,775)		(5,047)		(722)
Effect of exchange rate changes	(3,658)		(4,544)		5,487		785
Net (decrease)/increase in cash and cash equivalents and restricted cash	(30,543)		(37)		19,917		2,848
Cash and cash equivalents and restricted cash at the beginning of year	33,871		3,328		3,291		471
Cash and cash equivalents and restricted cash at the end of year	3,328		3,291		23,208		3,319

Revenues - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Revenues
Revenues	¥ 374,847	$ 53,602	¥ 316,170	¥ 290,232
Transferred at point in time
Revenues
Revenues	235,445	33,668	192,200	163,262
Transferred over time
Revenues
Revenues	¥ 139,402	$ 19,934	¥ 123,970	¥ 126,970

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Short-term investments

12 Months Ended

Dec. 31, 2025

Short-term investments

Short-term investments

5Short-term investments

Short-term investments classification as of December 31, 2025 were shown as below:

As of December 31, 2025

Gross

unrecognized

Cost

holding gains

holding losses

gains

losses

Fair value

RMB

USD

RMB

USD

Equity investments with readily determinable fair value

5,000

715

—

5,090

728

As of December 31, 2025, the Company’s equity investments with readily determinable fair value represent a purchased private equity fund product, for which the Company does not have significant influence.

As of December 31, 2024, there were no short-term investments.

Short-term investments (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Short-term investments
Short-term investments, Cost	¥ 5,000		$ 715
Short-term investments, Gross unrecognized gains	90	$ 13
Short-term investments, Fair value	5,090		728
Short-term investments	¥ 5,090		$ 728	¥ 0

Share-based compensation - Summary of Restricted Share Units (Details) - Restricted Share Units ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 CNY (¥) ¥ / shares $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 ¥ / shares
Share-based compensation
Number of Share Units, Outstanding, Beginning	273,654	273,654
Number of Share Units, Granted	273,605	273,605
Number of Share Units, Vested	273,613	273,613
Number of Share Units, Outstanding, Ending	273,646	273,646	273,654
Number of Share Units, Vested and expected to vest	273,646	273,646
Weighted-Average grant-date Fair Value per Restricted Share Unit, Outstanding, Beginning \| ¥ / shares	¥ 1.84
Weighted-Average grant-date Fair Value per Restricted Share Unit, Granted \| (per share)	5.33	$ 0.76	¥ 2.04	¥ 1.74
Weighted-Average grant-date Fair Value per Restricted Share Unit, Outstanding, Ending \| ¥ / shares	7.16		¥ 1.84
Weighted-Average grant-date Fair Value per Restricted Share Unit, Vested and expected to vest \| ¥ / shares	¥ 7.16	$ 7.16
Weighted Average Remaining Contractual Term (Years), Outstanding	9 years 7 months 2 days	9 years 7 months 2 days	9 years 7 months 28 days
Weighted Average Remaining Contractual Term (Years), Vested and expected to vest	9 years 7 months 2 days	9 years 7 months 2 days
Aggregate Intrinsic Value, Outstanding \| ¥	¥ 904	$ 904	¥ 1,042
Aggregate Intrinsic Value, Vested and expected to vest \| ¥	¥ 904	$ 904

Income taxes - Summary of Loss Before Income Taxes (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Income taxes
Total loss before income taxes	¥ 2,647	$ 379	¥ (6,659)	¥ (64,554)
Cayman Islands
Income taxes
Total loss before income taxes	(5,956)	(852)	(7,466)	(16,192)
British Virgin Islands
Income taxes
Total loss before income taxes	(83)	(12)	(37)
Hong Kong
Income taxes
Total loss before income taxes	(1,355)	(194)	(2,699)	(1,982)
Singapore
Income taxes
Total loss before income taxes	3,967	567	341	96
Malaysia
Income taxes
Total loss before income taxes	(1,905)	(272)	(253)
Indonesia
Income taxes
Total loss before income taxes	(43)	(6)
China
Income taxes
Total loss before income taxes	¥ 8,022	$ 1,148	¥ 3,455	¥ (46,476)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Other income (loss) (Tables)

12 Months Ended

Dec. 31, 2025

Other income (loss)

Schedule of other nonoperating income, by component


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Disposal loss of long-term investment	(10,754)		—		—		—
Impairment of long-term investments (Note 9)	(8,505)		—		—		—
Credit losses for loans receivable	(6,660)		—		—		—
Income from ADR profit-sharing program	1,336		—		—		—
Others	592		238		427		61
Total	(23,991)		238		427		61

Property and equipment, net - Additional information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Property and equipment, net
Impairment loss on property and equipment	¥ 0		¥ 0	¥ 0
Depreciation expense	¥ 931	$ 133	¥ 1,309	¥ 5,301

Condensed financial information of the parent company (Tables)

12 Months Ended

Dec. 31, 2025

Condensed financial information of the parent company

Condensed balance sheets


	As of December 31
	2024		2025
	RMB		RMB		US$
ASSETS:
Current assets:
Cash and cash equivalents	3,291		23,208		3,319
Due from the entities within the Group	10,592		10,383		1,485
Prepayments and other current assets	6,893		8,312		1,189
Total current assets	20,776		41,903		5,993
Non-current assets:
Long-term investments	304,090		306,164		43,781
Other non-current assets	5,130		5,016		717
Total non-current assets	309,220		311,180		44,498
Total assets	329,996		353,083		50,491
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued liabilities and other current liabilities	2,342		3,633		520
Due to the entities within the Group	259,732		283,652		40,562
Total current liabilities	262,074		287,285		41,082
Total liabilities	262,074		287,285		41,082


	As of December 31
	2024		2025
	RMB		RMB		US$
Shareholders’ equity
Class A common shares (par value of US$0.0001 per share as of December 31, 2024 and 2025; 4,920,000,000 shares authorized as of December 31, 2024 and 2025, 63,041,500 shares and 62,971,166 shares issued and outstanding as of December 31, 2024 and 2025, respectively)	39		40		5
Class B common shares (par value of US$0.0001 per share as of December 31, 2024 and 2025; 30,000,000 shares authorized as of December 31, 2024 and 2025, 17,000,189 shares and 17,000,189 shares issued and outstanding as of December 31, 2024 and 2025)	11		11		2
Treasury shares (442,915 and 1,415,422 class A common shares as of December 31, 2024 and 2025, respectively)	(1,674)		(6,430)		(919)
Additional paid-in capital	1,045,221		1,049,029		150,009
Accumulated deficit	(995,715)		(995,292)		(142,325)
Accumulated other comprehensive income	20,040		18,440		2,637
Total shareholders’ equity	67,922		65,798		9,409
Total liabilities and shareholders’ equity	329,996		353,083		50,491

Condensed statements of comprehensive (loss)/income


	Years ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Revenues	—		—		—		—
Cost of revenues	—		—		—		—
Gross profit	—		—		—		—
Operating expenses	—		—		—		—
Research and development	—		—		—		—
Sales and marketing	(517)		(416)		(764)		(109)
General and administrative	(11,430)		(7,018)		(5,499)		(786)
Share of (loss)/income of the subsidiaries and VIE	(45,933)		373		6,340		907
Total operating expenses	(57,880)		(7,061)		77		12
(Loss)/income from operations	(57,880)		(7,061)		77		12
Foreign exchange (loss)/gain, net	(61)		(6)		2		—
Interest income	34		21		344		49
Other loss	(4,191)		—		—		—
(Loss)/income before income taxes	(62,098)		(7,046)		423		61
Income tax expenses	—		—		—		—
Net (loss)/income	(62,098)		(7,046)		423		61
Net (loss)/income attributable to common shareholders	(62,098)		(7,046)		423		61
Other comprehensive income/(loss)	—		—		—		—
Foreign currency translation adjustments	919		817		(1,600)		(229)
Total other comprehensive income/(loss), net of tax	919		817		(1,600)		(229)
Comprehensive loss	(61,179)		(6,229)		(1,177)		(168)

Condensed statements of cash flows


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Net cash (used in)/provided by operating activities	(23,234)		6,282		19,477		2,785
Net cash used in investing activities	—		—		—		—
Net cash used in financing activities	(3,651)		(1,775)		(5,047)		(722)
Effect of exchange rate changes	(3,658)		(4,544)		5,487		785
Net (decrease)/increase in cash and cash equivalents and restricted cash	(30,543)		(37)		19,917		2,848
Cash and cash equivalents and restricted cash at the beginning of year	33,871		3,328		3,291		471
Cash and cash equivalents and restricted cash at the end of year	3,328		3,291		23,208		3,319

Organization and principal activities - Summary of assets and liabilities of the VIE and its subsidiaries (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 167,955	$ 24,017	¥ 119,171	¥ 114,521
Prepayments and other current assets	15,306	2,188	14,264
Total current assets	231,963	33,170	184,615
Non-current assets:
Property and equipment, net	2,798	400	4,573
Operating lease right-of-use assets	14,873	2,127	17,146
Intangible assets, net	9,966	1,425	13,767
Goodwill	37,785	5,403	37,785
Long-term investments	112,609	16,103	113,506
Deferred tax assets	6	1	131
Other non-current assets	6,165	882	6,510
Total non-current assets	184,202	26,341	193,418
Total assets	416,165	59,511	378,033
Current liabilities:
Short-term loan			3,000
Accounts payable	39,404	5,635	32,691
Deferred revenue and customer deposits	121,848	17,424	87,070
Operating lease liabilities	3,982	569	4,461
Accrued liabilities and other current liabilities	80,939	11,574	74,370
Total current liabilities	302,975	43,325	261,633
Non-current liabilities:
Operating lease liabilities	11,432	1,635	13,376
Deferred tax liabilities	1,883	269	3,059
Other non-current liabilities	450	64	567
Total non-current liabilities	13,765	1,968	17,002
Total liabilities	316,740	45,293	278,635
VIE
Current assets:
Cash and cash equivalents	72,919	10,427	84,136
Accounts and notes receivable, net	42,170	6,030	50,032
Prepayments and other current assets	10,940	1,564	11,412
Amounts due from the Company and its subsidiaries	262,240	37,500	232,201
Total current assets	388,269	55,521	377,781
Non-current assets:
Property and equipment, net	2,106	301	3,680
Operating lease right-of-use assets	8,470	1,211	8,879
Intangible assets, net	9,846	1,408	13,765
Goodwill	37,785	5,403	37,785
Long-term investments	78,985	11,295	79,120
Deferred tax assets	6	1	131
Other non-current assets	648	93	731
Total non-current assets	137,846	19,712	144,091
Total assets	526,115	75,233	521,872
Current liabilities:
Short-term loan	0		3,000
Accounts payable	32,191	4,603	26,479
Deferred revenue and customer deposits	121,627	17,392	129,918
Operating lease liabilities	2,526	361	2,750
Accrued liabilities and other current liabilities	66,896	9,566	68,349
Amounts due to the Company and its subsidiaries	444,273	63,530	439,818
Total current liabilities	667,513	95,452	670,314
Non-current liabilities:
Operating lease liabilities	6,117	875	6,437
Deferred revenue	1,883	269	3,059
Deferred tax liabilities	1,883	269	3,059
Other non-current liabilities	450	64	567
Total non-current liabilities	8,450	1,208	10,063
Total liabilities	¥ 675,963	$ 96,660	¥ 680,377

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 167,955	$ 24,017	¥ 119,171
Restricted cash	384	55	376
Short-term investments	5,090	728	0
Accounts receivable, net of allowances of RMB4,916 and RMB6,495 (US$928) as of December 31, 2024 and 2025, respectively	43,228	6,182	50,804
Prepayments and other current assets	15,306	2,188	14,264
Total current assets	231,963	33,170	184,615
Non-current assets:
Property and equipment, net	2,798	400	4,573
Operating lease right-of-use assets	14,873	2,127	17,146
Intangible assets, net	9,966	1,425	13,767
Goodwill	37,785	5,403	37,785
Long-term investments	112,609	16,103	113,506
Deferred tax assets	6	1	131
Other non-current assets	6,165	882	6,510
Total non-current assets	184,202	26,341	193,418
Total assets	416,165	59,511	378,033
Current liabilities:
Short-term loan (including short-term loan of the variable interest entity ("VIE") without recourse to the Company of RMB3,000 and nil as of December 31, 2024 and 2025, respectively)			3,000
Accounts payable (including accounts payable of the VIE without recourse to the Company of RMB26,479 and RMB32,191 (US$4,603) as of December 31, 2024 and 2025, respectively)	39,404	5,635	32,691
Deferred revenue and customer deposits (including deferred revenue and customer deposits of the VIE without recourse to the Company of RMB129,918 and RMB121,627 (US$17,392) as of December 31, 2024 and 2025, respectively)	178,650	25,547	147,111
Operating lease liabilities (including operating lease liabilities of the VIE without recourse to the Company of RMB2,750 and RMB2,526 (US$361) as of December 31, 2024 and 2025, respectively)	3,982	569	4,461
Accrued liabilities and other current liabilities (including accrued liabilities and other current liabilities of the VIE without recourse to the Company of RMB68,349 and RMB66,896 (US$9,566) as of December 31, 2024 and 2025, respectively)	80,939	11,574	74,370
Total current liabilities	302,975	43,325	261,633
Non-current liabilities:
Operating lease liabilities (including non-current operating lease liabilities of the VIE without recourse to the Company of RMB6,437 and RMB6,117 (US$875) as of December 31, 2024 and 2025, respectively)	11,432	1,635	13,376
Deferred tax liabilities (including non-current deferred tax liabilities of the VIE without recourse to the Company of RMB3,059 and RMB1,883 (US$269) as of December 31, 2024 and 2025, respectively)	1,883	269	3,059
Other non-current liabilities (including other non-current liabilities of the VIE without recourse to the Company of RMB567 and RMB450 (US$64) as of December 31, 2024 and 2025, respectively)	450	64	567
Total non-current liabilities	13,765	1,968	17,002
Total liabilities	316,740	45,293	278,635
Commitments and contingencies
Shareholders' equity
Treasury shares (442,915 and 1,415,422 class A common shares as of December 31, 2024 and 2025, respectively)	(6,430)	(919)	(1,674)
Additional paid-in capital	1,049,029	150,009	1,045,221
Accumulated deficit	(995,292)	(142,325)	(995,715)
Accumulated other comprehensive income	18,440	2,637	20,040
Total Aurora Mobile Limited's shareholders' equity	65,798	9,409	67,922
Noncontrolling interests	33,627	4,809	31,476
Total shareholders' equity	99,425	14,218	99,398
Total liabilities and shareholders' equity	416,165	59,511	378,033
Class A Common Shares
Shareholders' equity
Common shares	40	5	39
Class B Common Shares
Shareholders' equity
Common shares	¥ 11	$ 2	¥ 11

Summary of Significant Accounting Policies - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) item segment ¥ / $ shares	Dec. 31, 2025 USD ($) segment shares	Dec. 31, 2024 CNY (¥) item shares	Dec. 31, 2023 CNY (¥) item shares	Dec. 31, 2025 USD ($) item ¥ / $	Nov. 13, 2025 USD ($)	Dec. 31, 2024 USD ($) item	Dec. 30, 2024 USD ($)	Nov. 16, 2023 USD ($)	Sep. 15, 2022 USD ($)
Summary Of significant accounting policies
Foreign currency exchange rate \| ¥ / $	6.9931				6.9931
Private equity fund	¥ 5,000				$ 715
Unrealized gains from equity investments	90	$ 13
Short-term Investments.	5,090		¥ 0		728
Finite lived intangible asset residual value \| ¥	0
Impairment of long-lived assets other than goodwill \| ¥	¥ 0		¥ 0	¥ 0
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]	General and Administrative Expense	General and Administrative Expense	General and Administrative Expense	General and Administrative Expense
Impairment charge of goodwill \| ¥	¥ 0		¥ 0	¥ 0
Impairment of long-term investments \| ¥	0		0	8,505
Share repurchased cash consideration \| ¥	7,529		3,410	3,709
Revenue Recognized	71,074	$ 10,163	65,853
Unsatisfied performance obligation	83,544		41,114		$ 11,947
Advertising expenses	9,406	1,345	7,323	7,035
Employee defined contribution plan expense incurred	¥ 9,501	$ 1,359	¥ 7,911	¥ 11,820
Depreciation of the US$ against RMB, percent	4.19%	4.19%
Number of operating segment \| segment	1	1
Number of reportable segment \| segment	1	1
Supplier Concentration Risk \| Number of Suppliers \| Three Suppliers
Summary Of significant accounting policies
Concentration risk, percentage	41.91%	41.91%	48.15%	27.80%
Number of suppliers \| item	3		3	3	3		3
Geographic Concentration Risk \| Cash, Geographic Area \| CHINA
Summary Of significant accounting policies
Aggregate amount of cash and cash equivalents, and restricted cash	¥ 134,120		¥ 92,866		$ 19,179
Geographic Concentration Risk \| Cash, Geographic Area \| Outside China
Summary Of significant accounting policies
Aggregate amount of cash and cash equivalents, and restricted cash	¥ 39,309				$ 5,621		$ 3,655
Maximum \| Product Concentration Risk \| Number of Suppliers
Summary Of significant accounting policies
Concentration risk, percentage	50.00%	50.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Summary Of significant accounting policies
Remaining performance obligations as revenues (in years)	2 years				2 years
American Depositary Shares
Summary Of significant accounting policies
Share repurchased under repurchase plan	120,825	120,825	91,166	127,987
Share repurchased cash consideration	¥ 7,529	$ 1,077	¥ 3,410	¥ 3,709
American Depositary Shares \| 2023 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan			91,166
American Depositary Shares \| 2025 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	120,825	120,825
American Depositary Shares \| Maximum \| 2022 Repurchase Plan
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $										$ 5,000
American Depositary Shares \| Maximum \| 2023 Repurchase Plan
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $									$ 5,000
American Depositary Shares \| Maximum \| 2025 Repurchase Plan
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $								$ 5,000
American Depositary Shares \| Maximum \| 2026 Repurchase Plan
Summary Of significant accounting policies
Share repurchase plan, authorized amount \| $						$ 10,000
Class A Common Shares
Summary Of significant accounting policies
Number of shares represented three ADSs	40	40
Share repurchased under repurchase plan	1,611,000	1,611,000	1,215,547	1,706,493
Class A Common Shares \| 2023 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan			1,215,547
Class A Common Shares \| 2025 Repurchase Plan
Summary Of significant accounting policies
Share repurchased under repurchase plan	1,611,000	1,611,000

Lease - Schedule Of information related to operating leases (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Lease
Cash payments for operating leases	¥ 5,203	$ 744	¥ 5,749	¥ 7,894
ROU assets obtained in exchange for operating lease liabilities	¥ 2,726	$ 390	¥ 18,632	¥ 365

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Revenues	¥ 374,847	$ 53,602	¥ 316,170	¥ 290,232
Cost of revenues	(122,937)	(17,580)	(107,136)	(90,946)
Gross profit	251,910	36,022	209,034	199,286
Operating expenses
Research and development	(104,723)	(14,975)	(94,816)	(121,806)
Sales and marketing	(101,003)	(14,443)	(84,900)	(82,705)
General and administrative	(48,168)	(6,888)	(45,448)	(45,653)
Total operating expenses	(253,894)	(36,306)	(225,164)	(250,164)
Other operating income	2,690	385	6,229	10,361
(Loss)/Income from operations	706	101	(9,901)	(40,517)
Foreign exchange (loss)/gain	(24)	(3)	122	(18)
Interest income	1,298	186	2,881	1,200
Interest expense	(76)	(11)	(132)	(808)
Share of loss from equity method investment \| ¥				(450)
Gains from fair value change	316	45	133	30
Other (loss)/income	427	61	238	(23,991)
(Loss)/Income before income taxes	2,647	379	(6,659)	(64,554)
Income tax benefits/ (expenses)	(73)	(10)	(110)	1,886
Net (loss)/income	2,574	369	(6,769)	(62,668)
Less: Net (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests	2,151	308	277	(570)
Net (loss)/income attributable to Aurora Mobile Limited's shareholders	423	61	(7,046)	(62,098)
Other comprehensive income/ (loss)
Foreign currency translation adjustments	(1,600)	(229)	817	919
Total other comprehensive income/ (loss), net of tax	(1,600)	(229)	817	919
Total comprehensive (loss)/income	974	140	(5,952)	(61,749)
Less: Comprehensive (loss)/income attributable to noncontrolling interests and redeemable noncontrolling interests	2,151	308	277	(570)
Comprehensive loss attributable to Aurora Mobile Limited's shareholders	¥ (1,177)	$ (168)	¥ (6,229)	¥ (61,179)
Class A Common Shares
Net (loss)/earnings per share for class A and class B common shares:
Earnings Per Share, Basic (per share) \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Earnings Per Share, Diluted (per share) \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Weighted average shares used in computing net (loss)/earnings per share attributable to common shares:
Common Shares - basic (in shares)	63,357,628	63,357,628	62,802,678	62,688,838
Common Shares - diluted (in shares)	63,357,628	63,357,628	62,802,678	62,688,838
Class B Common Shares
Net (loss)/earnings per share for class A and class B common shares:
Earnings Per Share, Basic (per share) \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Earnings Per Share, Diluted (per share) \| (per share)	¥ 0.01	$ 0	¥ (0.09)	¥ (0.78)
Weighted average shares used in computing net (loss)/earnings per share attributable to common shares:
Common Shares - basic (in shares)	17,000,189	17,000,189	17,000,189	17,000,189
Common Shares - diluted (in shares)	17,000,189	17,000,189	17,000,189	17,000,189

Goodwill and Intangible assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible assets

Goodwill and Intangible assets

8Goodwill and Intangible assets

The Company has recognized goodwill of RMB37,785 and RMB37,785 (US$5,403) as of December 31, 2024 and 2025, respectively, as part of the business acquisition of Wuhan SendCloud Technology Co., Ltd., (“SendCloud”). There were no impairment charges in the carrying amount of goodwill during the years ended December 31, 2023, 2024 and 2025.

Intangible assets consist of the following:


	As of December 31,
	2024		2025
	RMB		RMB		US$
Computer software, systems and technology	14,814		15,238		2,179
Brand	10,300		10,300		1,473
Customer relationships	13,800		13,800		1,973
Less: Accumulated amortization	(25,147)		(29,372)		(4,200)
Total intangible assets, net	13,767		9,966		1,425

No impairment charges were recognized on intangible assets for the years ended December 31, 2023, 2024 and 2025, respectively.

The weighted average amortization period of intangible assets were 5.9 years, 5.9 years and 5.8 years for the years ended December 31, 2023, 2024 and 2025, respectively.

Amortization expense of intangible assets were RMB6,223, RMB4,648 and RMB4,225 (US$604) for the years ended December 31, 2023, 2024 and 2025, respectively.

8Goodwill and Intangible assets (continued)

Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows:


	RMB		US$
For the year ending December 31, 2026	4,128		590
2027	1,524		218
2028	1,035		148
2029	1,030		147
2030	1,030		147

There were no intangible assets with an indefinite useful life as of December 31, 2024 and 2025.

Long-term investments (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2025 USD ($)
Long-term investments
Carrying amount of equity investments	¥ 112,609	¥ 113,506		$ 16,103
Equity ownership			2.5698%
Proceeds from disposal of long-term investments			¥ 10,279
Disposal loss of long-term investment			10,754
Impairment charges recognized on equity investments without readily determinable fair value	0	0	8,505
Share of loss from equity method investment			¥ (450)
Non listed company
Long-term investments
Equity ownership percentage			15.00%
Representation of the board seats			0.20%
Carrying amount of equity method investments	¥ 0	¥ 0
Share of loss from equity method investment			¥ 450

Share-based compensation - Additional Information (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands			1 Months Ended		12 Months Ended
	Mar. 01, 2017 shares	Jul. 23, 2014 shares	Sep. 30, 2023 shares	Dec. 31, 2021 shares	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares	Dec. 31, 2024 CNY (¥) ¥ / shares	Dec. 31, 2023 CNY (¥) ¥ / shares	Dec. 31, 2025 USD ($) shares
Share-based compensation
Weighted average grant-date fair value share options granted \| ¥ / shares					¥ 3.62
Aggregate fair value of options and restricted share units vested and recognized as expenses					¥ 3,684	$ 527	¥ 4,225	¥ 11,574
Total intrinsic value of options and restricted share units exercised/vested					¥ 4,734	$ 677	¥ 5,796	¥ 2,976
Employee Stock Option
Share-based compensation
Weighted average grant-date fair value share options granted \| (per share)					¥ 3.62	$ 0.52	¥ 2.04	¥ 3.23
Unrecognized share-based compensation expense					¥ 88				$ 13
Unrecognized share-based compensation expense estimated weighted-average period					3 months 14 days	3 months 14 days
Restricted Share Units
Share-based compensation
Unrecognized share-based compensation expense estimated weighted-average period					6 months 29 days	6 months 29 days
Unrecognized share-based compensation cost					¥ 837				$ 120
2014 Incentive Plan
Share-based compensation
Common shares reserved for issuance		5,500,000
Share available for grant					0				0
Number of vested but not exercised					306,828				306,828
2014 Incentive Plan \| Maximum
Share-based compensation
Awards vesting period		4 years
Awards expiration period		10 years
2017 Incentive Plan
Share-based compensation
Common shares reserved for issuance	6,015,137
Share available for grant					2,867				2,867
2017 Incentive Plan \| Maximum
Share-based compensation
Awards vesting period	4 years
Awards expiration period	10 years
2021 Incentive Plan
Share-based compensation
Common shares reserved for issuance				4,000,000
Share available for grant					1,960				1,960
2021 Incentive Plan \| Maximum
Share-based compensation
Awards vesting period				4 years
Awards expiration period				10 years
2023 Incentive Plan
Share-based compensation
Common shares reserved for issuance			4,000,000
Share available for grant					2,439,067				2,439,067
2023 Incentive Plan \| Maximum
Share-based compensation
Awards vesting period			4 years
Awards expiration period			10 years

Property and equipment, net

12 Months Ended

Dec. 31, 2025

Property and equipment, net

Property and equipment, net

6Property and equipment, net

Property and equipment consist of the following:


	As of December 31,
	2024		2025
	RMB		RMB		US$
Computer equipment and servers	5,559		2,826		404
Office furniture and equipment	4,067		3,620		518
Leasehold improvements	2,388		2,492		356
Less: Accumulated depreciation and impairment	(7,441)		(6,140)		(878)
Total property and equipment, net	4,573		2,798		400

No impairment loss charges were recognized on property and equipment for the years ended December 31, 2023, 2024 and 2025.

Depreciation expense recognized for the years ended December 31, 2023, 2024 and 2025 were RMB5,301, RMB1,309 and RMB931 (US$133), respectively.

Revenues - Schedule of revenues (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Revenues
Revenues	¥ 374,847	$ 53,602	¥ 316,170	¥ 290,232
Subscription
Revenues
Revenues	226,338	32,366	196,813	173,523
Value-Added Services
Revenues
Revenues	40,918	5,851	32,825	31,129
Vertical Applications
Revenues
Revenues	¥ 107,591	$ 15,385	¥ 86,532	¥ 85,580

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Other non-current liabilities

12 Months Ended

Dec. 31, 2025

Other non-current liabilities

Other non-current liabilities

15Other non-current liabilities

Other non-current liabilities consist of the following:


	As of December 31,
	2024	2025
	RMB	RMB	US$
Payable to equity method investee	450	450	64
Others	117	—	—
Total other non-current liabilities	567	450	64

Summary of Significant Accounting Policies - Summary of Contract Liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Summary of Significant Accounting Policies
Contract liabilities	¥ 121,848	$ 17,424	¥ 87,064

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2025

Accounts receivable, net

Schedule of accounts receivable


	As of December 31,
	2024		2025
	RMB		RMB		US$
Accounts receivable	55,720		49,723		7,110
Less: allowance for credit losses	(4,916)		(6,495)		(928)
Total accounts receivable, net	50,804		43,228		6,182

Schedule of movement in allowance for credit losses


	2024		2025
	RMB		RMB		US$
Balance at beginning of year	5,331		4,916		703
Provisions	1,362		3,320		475
Write-offs	(1,777)		(1,741)		(250)
Balance at end of year	4,916		6,495		928

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy We have implemented comprehensive cybersecurity risk assessment procedures to ensure effectiveness in cybersecurity management, strategy and governance and reporting cybersecurity risks. We have also integrated cybersecurity risk management into our overall enterprise risk management system. We have developed a comprehensive cybersecurity threat defense system to address both internal and external threats. This system encompasses various levels, including network, host and application security and incorporates systematic security capabilities for threat defense, monitoring, analysis, response, deception and countermeasures. We strive to manage cybersecurity risks and protect sensitive information through various means, such as technical safeguards, procedural requirements, an intensive program of monitoring on our corporate network, continuous testing of aspects of our security posture internally and with outside vendors, a robust incident response program and regular cybersecurity awareness training for employees. We gain access to vast amounts of anonymous device-level mobile behavioral data based on services provided to application developers and store the data on our servers protected by firewalls. We generate internal IDs that label and identify mobile devices and encrypt device-level data to enhance data security. Our core data can only be accessed through computers designated for authorized use. These computers cannot be connected to the internet, and no data can be outputted to an external device. Only authorized staff can access those computers for designated purposes. Moreover, we maintain data access logs that record all attempted and successful access to our data and conduct routine manual verifications of large data requests. We also have clear and strict authorization and authentication procedures and policies in place. Our employees only have access to data directly relevant and necessary to their job responsibilities. They are allowed to access these data for limited purposes only and are required to verify authorization upon every access attempt. Besides, we engage third-party service providers to assess our internal cybersecurity programs and compliance with applicable practices and standards. Our IT department work closely with third-party service providers to ensure their compliance with our cybersecurity standards and to assess risks arising from our engagements with them. Our information security department regularly monitors the performance of our platforms and infrastructure, enabling us to respond quickly to potential problems, including potential cybersecurity threats. As of the date of this annual report, we have not experienced any material cybersecurity incidents or identified any material cybersecurity threats that have affected or are reasonably likely to materially affect us, our business strategy, results of operations or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have implemented comprehensive cybersecurity risk assessment procedures to ensure effectiveness in cybersecurity management, strategy and governance and reporting cybersecurity risks. We have also integrated cybersecurity risk management into our overall enterprise risk management system.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The nominating and corporate governance committee of our board of directors is responsible for overseeing the Company’s cybersecurity risk management and being informed on risks from cybersecurity threats. The nominating and corporate governance committee shall review, approve and maintain oversight of the disclosure (i) on Form 6-K for material cybersecurity incidents (if any) and (ii) related to cybersecurity matters in the periodic reports (including annual report on Form 20-F) of the Company.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	board of directors
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The nominating and corporate governance committee of our board of directors is responsible for overseeing the Company’s cybersecurity risk management and being informed on risks from cybersecurity threats.
Cybersecurity Risk Role of Management [Text Block]	at the management level, we have established a cybersecurity committee, which is consisted of three top executives and chaired by our cybersecurity officer, who has experience in dealing with confidentiality-related cybersecurity issues.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	cybersecurity officer
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	we have established a cybersecurity committee, which is consisted of three top executives and chaired by our cybersecurity officer, who has experience in dealing with confidentiality-related cybersecurity issues.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our cybersecurity committee reports to our nominating and corporate governance committee on (i) a quarterly basis on updates to the status of any material cybersecurity incidents or material risks from cybersecurity threats to our company, and the disclosure issues, if any, and (ii) on disclosure concerning cybersecurity matters in our annual report on Form 20-F.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Short-term loan (Details) ¥ in Thousands	Dec. 31, 2024 CNY (¥)
Short-term loan
Short-term loan	¥ 3,000

Summary of Significant Accounting Policies - Schedule of Finite Lived Intangible Assets Estimated Economic Lives (Details)	Dec. 31, 2025
Brand
Summary of Significant Accounting Policies
Intangible assets	10 years
Customer relationships
Summary of Significant Accounting Policies
Intangible assets	5 years
Minimum \| Computer software, systems and technology
Summary of Significant Accounting Policies
Intangible assets	1 year
Maximum \| Computer software, systems and technology
Summary of Significant Accounting Policies
Intangible assets	5 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Share-based compensation - Summary of Share Option Activity (Details) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Share-based compensation.
Number of Options, Outstanding, Beginning Balance	8,794,368
Number of Options, Granted	522,066
Number of Options, Expired	40,227
Number of Options, Exercised	970,693
Number of Options, Outstanding, Ending Balance	8,305,514	8,794,368
Number of Options, Vested and expected to vest	8,305,514
Number of Options, Vested	8,083,840
Weighted-Average Exercise Price, Outstanding, Beginning Balance	¥ 8.65
Weighted-Average Exercise Price, Expired	16.08
Weighted-Average Exercise Price, Exercised	3.07
Weighted-Average Exercise Price, Outstanding, Ending Balance	8.72	¥ 8.65
Weighted-Average Exercise Price, Vested and expected to vest	8.72
Weighted-Average Exercise Price, Vested	9.21
Weighted-Average grant-date Fair Value per Option, Outstanding, Beginning Balance	12.58
Weighted-Average grant-date Fair Value per Option, Granted	3.62
Weighted-Average grant-date Fair Value per Option, Expired	20.23
Weighted-Average grant-date Fair Value per Option, Exercised	5.59
Weighted-Average grant-date Fair Value per Option, Outstanding, Ending Balance	12.8	¥ 12.58
Weighted-Average grant-date Fair Value per Option, Vested and expected to vest	12.8
Weighted-Average grant-date Fair Value per Option, Vested	¥ 13.47
Weighted Average Remaining Contractual Term (Years), Outstanding	4 years 8 months 1 day	5 years 4 months 20 days
Weighted Average Remaining Contractual Term (Years), Vested and expected to vest	4 years 8 months 1 day
Weighted Average Remaining Contractual Term (Years), Vested	4 years 7 months 13 days
Aggregate Intrinsic Value, Outstanding	¥ 11,738	¥ 12,923
Aggregate Intrinsic Value, Vested and expected to vest	11,738
Aggregate Intrinsic Value, Vested	¥ 11,006

Prepayments and other current assets

12 Months Ended

Dec. 31, 2025

Prepayments and other current assets

Prepayments and other current assets

4Prepayments and other current assets

Prepayments and other current assets consist of the following:


	As of December 31,
	2024		2025
	RMB		RMB		US$
Prepaid service fee	8,049		6,692		957
VAT and other surcharges	2,641		2,590		370
Deferred offering expenses	—		1,748		250
Office rental deposit	493		467		67
Other deposits	950		1,152		165
Contract assets	353		479		68
Prepaid media cost	736		972		139
Receivables from sales of shares on behalf of employees	67		15		2
Others	975		1,191		170
Total prepayments and other current assets	14,264		15,306		2,188

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2025

CNY (¥)

Dec. 31, 2025

USD ($)

Income tax paid

^[1]

¥ 273

$ 39

269

¥ 4

$ 1

[1]	For the year ended December 31, 2025, income taxes paid amounted to RMB 269 (US$38) in Chinese mainland, and RMB 4 (US$1) in jurisdictions outside Chinese mainland.

Share capital - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Class A Common Shares
Share capital
Share repurchased under repurchase plan	1,611,000	1,215,547	1,706,493
Common shares, shares outstanding	62,971,166	63,041,500
Number of shares represented ADSs	40
Class A Common Shares \| 2022 Repurchase Plan and 2023 Repurchase Plan
Share capital
Share repurchased under repurchase plan			1,706,493
Class A Common Shares \| 2023 Repurchase Plan
Share capital
Share repurchased under repurchase plan		1,215,547
Class A Common Shares \| 2025 Repurchase Plan
Share capital
Share repurchased under repurchase plan	1,611,000
Class B Common Shares
Share capital
Common shares, shares outstanding	17,000,189	17,000,189
American Depositary Shares
Share capital
Share repurchased under repurchase plan	120,825	91,166	127,987
American Depositary Shares \| 2022 Repurchase Plan and 2023 Repurchase Plan
Share capital
Share repurchased under repurchase plan			127,987
American Depositary Shares \| 2023 Repurchase Plan
Share capital
Share repurchased under repurchase plan		91,166
American Depositary Shares \| 2025 Repurchase Plan
Share capital
Share repurchased under repurchase plan	120,825

CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2025

CNY (¥)

Dec. 31, 2025

USD ($)

Dec. 31, 2024

CNY (¥)

Dec. 31, 2023

CNY (¥)

Cash flows from operating activities:

Net (loss)/income

¥ 2,574

$ 369

¥ (6,769)

¥ (62,668)

Adjustments to reconcile net (loss)/income to net cash used in operating activities:

Depreciation of property and equipment

931

133

1,309

5,301

Amortization of intangible assets

4,225

604

4,648

6,223

Lease expense to reduce right-of-use assets

5,113

731

5,910

8,029

Deferred tax (benefits)/expenses

(1,052)

(150)

(1,889)

Credit losses for accounts receivable

3,320

475

1,362

636

Share of loss from equity method investment

450

Disposal loss of long-term investment

10,754

Impairment of long-term investments

8,505

Credit losses for loans receivable

6,660

Loss/ (gain) on disposal of property and equipment

729

104

(8,129)

Unrealized fair value change from short-term investment

(90)

(13)

Share-based compensation expenses

3,684

527

4,225

11,574

Changes in operating assets and liabilities:

Accounts and notes receivable

4,256

609

(17,821)

(5,855)

Prepayments and other current assets

704

101

5,962

6,076

Amounts due from related parties

255

Other non-current assets

232

(1,048)

(3,181)

Accounts payable

6,713

960

11,618

2,904

Deferred revenue and customer deposits

31,539

4,510

5,593

(871)

Tax payable

770

110

Accrued liabilities and other current liabilities

6,616

946

(739)

(858)

Operating lease liabilities

(5,262)

(752)

(5,777)

1,860

Other non-current liabilities

(117)

(17)

(3,686)

Net cash (used in)/provided by operating activities

64,885

9,280

8,541

(17,907)

Cash flows from investing activities:

Purchase of short-term investments

(185,000)

(26,455)

(197,000)

(30,000)

Proceeds from maturities of short-term investments

180,000

25,740

197,000

30,000

Payment for acquisitions, net of cash acquired

(2,150)

(307)

(450)

Proceeds from disposal of long-term investments

10,279

Investment in loans granted to investees

(1,000)

Purchase of property and equipment

(252)

(36)

(4,506)

(306)

Proceeds from disposal of property and equipment

368

16,371

Purchase of intangible assets

(423)

(60)

(474)

(218)

Net cash provided by/ (used in) investing activities

(7,457)

(1,065)

(5,375)

25,126

Cash flows from financing activities:

Proceeds from short-term bank loans

3,000

Repayment of short-term bank loans

(3,000)

(429)

(5,000)

Repurchase of common shares

(7,602)

(1,087)

(2,588)

(3,709)

Proceeds from ATM offering

1,502

215

Prepayment for stock issuance cost

(1,845)

(264)

Proceeds from exercise of share options

2,898

414

813

Net cash (used in)/ provided by financing activities

(8,047)

(1,151)

1,225

(8,651)

Effect of exchange rate on cash and cash equivalents and restricted cash

(589)

(86)

149

179

Net (decrease)/increase in cash and cash equivalents and restricted cash

48,792

6,978

4,540

(1,253)

Cash, cash equivalents and restricted cash at the beginning of year

119,547

17,094

115,007

116,260

Cash, cash equivalents and restricted cash at the end of year

168,339

24,072

119,547

115,007

Cash and cash equivalents at the end of the year

167,955

24,017

119,171

114,521

Restricted cash at the end of the year

384

376

486

Supplemental disclosures of cash flow information:

Income tax paid

^[1]

273

131

Interest expense paid

109

212

Non-cash investing and financing activities:

Acquisition of long-term investments

¥ 450

Unpaid offering expenses

1,406

201

Unpaid cash for repurchase of common shares

¥ 1,608

$ 230

¥ 1,681

[1]	For the year ended December 31, 2025, income taxes paid amounted to RMB 269 (US$38) in Chinese mainland, and RMB 4 (US$1) in jurisdictions outside Chinese mainland.

Goodwill and Intangible assets - Schedule of Intangible Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Goodwill and Intangible assets
Less: Accumulated amortization	¥ (29,372)	$ (4,200)	¥ (25,147)
Total intangible assets, net	9,966	1,425	13,767
Computer software, systems and technology
Goodwill and Intangible assets
Intangible assets gross	15,238	2,179	14,814
Brand
Goodwill and Intangible assets
Intangible assets gross	10,300	1,473	10,300
Customer relationships
Goodwill and Intangible assets
Intangible assets gross	¥ 13,800	$ 1,973	¥ 13,800

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥) shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) shares
Accounts receivable, net of allowances	¥ 6,495	$ 928	¥ 4,916
Short-term loan \| ¥			3,000
Accounts payable	39,404	5,635	32,691
Deferred revenue and customer deposits	178,650	25,547	147,111
Current Operating lease liabilities	3,982	569	4,461
Accrued liabilities and other current liabilities	80,939	11,574	74,370
Non-current operating lease liabilities	11,432	1,635	13,376
Deferred tax liabilities	1,883	269	3,059
Other non-current liabilities	¥ 450	$ 64	¥ 567
Class A Common Shares
Common shares, par value per share \| $ / shares		$ 0.0001
Common shares, shares authorized	4,920,000,000	4,920,000,000	4,920,000,000
Common shares, shares issued	62,971,166	62,971,166	63,041,500
Common shares, shares outstanding	62,971,166	62,971,166	63,041,500
Treasury stock, common, shares	1,415,422	1,415,422	442,915
Class B Common Shares
Common shares, par value per share \| $ / shares		$ 0.0001
Common shares, shares authorized	30,000,000	30,000,000	30,000,000
Common shares, shares issued	17,000,189	17,000,189	17,000,189
Common shares, shares outstanding	17,000,189	17,000,189	17,000,189
VIE
Short-term loan \| ¥	¥ 0		¥ 3,000
Accounts payable	32,191	$ 4,603	26,479
Deferred revenue and customer deposits	121,627	17,392	129,918
Current Operating lease liabilities	2,526	361	2,750
Accrued liabilities and other current liabilities	66,896	9,566	68,349
Non-current operating lease liabilities	6,117	875	6,437
Deferred tax liabilities	1,883	269	3,059
Other non-current liabilities	¥ 450	$ 64	¥ 567

Fair value measurements

12 Months Ended

Dec. 31, 2025

Fair value measurements

Fair value measurements

21Fair value measurements

Assets and liabilities measured or disclosed at fair value

The Company measures equity investment with readily determinable fair value at fair value on a recurring basis. The equity securities with readily determinable fair value are classified within Level 2 as the fair value is measured by using inputs derived from or corroborated by observable market data.

The Company’s non-financial long-lived assets, such as intangible assets and property and equipment, would be measured at fair value only if they were determined to be impaired. The Company uses a combination of valuation methodologies, including market approach based on the Company’s best estimate to determine the fair value of these non-financial assets. The Company measures non-recurring fair value measurements as of the observable transaction dates. The fair value (Level 2) was evaluated for certain property and equipment based on quoted prices for similar assets in markets that are not active.

The Company measures certain financial assets, including equity method investments and equity investments without readily determinable fair value at fair value on a non-recurring basis only if an impairment loss or upward valuation were to be recognized.

As of December 31, 2025, assets measured at fair value are summarized below:


				Fair value measurement at December 31, 2025 using
						Significant
				Quoted prices in		other
		Total Fair		active markets		observable		Significant
		Value at		for identical		inputs		unobservable		Fair value
		December 31, 2025		assets (Level 1)		(Level 2)		inputs (Level 3)		adjustment
		RMB		RMB		RMB		RMB		RMB
Fair value measurements on a recurring basis:
Equity investment with readily determinable fair value		5,090		—		5,090		—		90
Total assets measured at fair value		5,090		—		5,090		—		90

As of December 31, 2024, there was no assets measured at fair value on a recurring basis.

As of December 31, 2024 and 2025, there was no assets measured at fair value on a non-recurring basis.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Topic 820
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-Topic 820
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenues

12 Months Ended

Dec. 31, 2025

Revenues

Revenues

19Revenues

The Company assesses revenues based upon the nature or type of services it provides and the following table presents disaggregated revenue information:


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Developer Services:
Subscription	173,523		196,813		226,338		32,366
Value-Added Services	31,129		32,825		40,918		5,851
Vertical Applications	85,580		86,532		107,591		15,385
Total revenues	290,232		316,170		374,847		53,602

For the years ended December 31, 2023, 2024 and 2025, revenues recognized at a point in time are RMB163,262, RMB192,200 and RMB235,445 (US$33,668), respectively. For the years ended December 31, 2023, 2024 and 2025, revenues recognized over time are RMB126,970, RMB123,970 and RMB139,402 (US$19,934), respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Deferred revenue and customer deposits

12 Months Ended

Dec. 31, 2025

Deferred revenue and customer deposits

Deferred revenue and customer deposits

11Deferred revenue and customer deposits

Deferred revenue and customer deposits consist of the following:


	As of December 31,
	2024		2025
	RMB		RMB		US$
Deferred revenue	87,070		121,848		17,424
Customer deposits	60,041		56,802		8,123
Total deferred revenue and customer deposits – current	147,111		178,650		25,547

Other income (loss)

12 Months Ended

Dec. 31, 2025

Other income (loss)

Other income (loss)

20Other income (loss)


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Disposal loss of long-term investment	(10,754)		—		—		—
Impairment of long-term investments (Note 9)	(8,505)		—		—		—
Credit losses for loans receivable	(6,660)		—		—		—
Income from ADR profit-sharing program	1,336		—		—		—
Others	592		238		427		61
Total	(23,991)		238		427		61

Other income (loss) - Schedule of Other Nonoperating Income by Component (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Other income (loss)
Disposal loss of long-term investment				¥ (10,754)
Impairment of long-term investments				(8,505)
Credit losses for loans receivable				(6,660)
Income from ADR profit-sharing program				1,336
Others	¥ 427	$ 61	¥ 238	592
Total	¥ 427	$ 61	¥ 238	¥ (23,991)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY ¥ in Thousands, $ in Thousands	Common shares CNY (¥) shares	Common shares USD ($) shares	Treasury shares CNY (¥) shares	Treasury shares USD ($) shares	Additional paid-in capital CNY (¥)	Additional paid-in capital USD ($)	Accumulated other comprehensive income/(loss) CNY (¥)	Accumulated other comprehensive income/(loss) USD ($)	Accumulated deficit CNY (¥)	Accumulated deficit USD ($)	Noncontrolling interests CNY (¥)	Noncontrolling interests USD ($)	CNY (¥) shares	USD ($) shares
Balance at the Beginning at Dec. 31, 2022	¥ 50		¥ (1,689)		¥ 1,037,007		¥ 18,304		¥ (925,982)				¥ 127,690
Balance at the Beginning (in Shares) at Dec. 31, 2022 \| shares	79,732,160	79,732,160
Balance at the Beginning, Treasury shares (in Shares) at Dec. 31, 2022 \| shares			182,313	182,313
Net (loss)/income									(62,098)		¥ (528)		(62,668)
Net loss													(62,626)
Translation adjustments							919						919
Exercise and vesting of share-based awards			¥ 2,945		(2,993)								48
Exercise and vesting of share-based awards (in shares) \| shares	806,273	806,273	(459,463)	(459,463)
Repurchase of common shares			¥ (3,709)										(3,709)
Repurchase of common shares (in shares) \| shares	(1,706,491)	(1,706,491)	1,706,491	1,706,491
Share-based compensation (Note 13)					11,574								11,574
Adjustment of redeemable noncontrolling interests to redemption value					(191)								(191)
Reclassification to permanent equity											30,701		30,701
Balance at the End (ASC 2016) at Dec. 31, 2023									(589)				(589)
Balance at the End at Dec. 31, 2023	¥ 50		¥ (2,453)		1,045,397		19,223		(988,669)		30,173		103,721
Balance at the End (in Shares) at Dec. 31, 2023 \| shares	78,831,942	78,831,942
Balance at the End, Treasury shares (in Shares) at Dec. 31, 2023 \| shares			1,429,341	1,429,341
Net (loss)/income										$ (7,046)		$ 277	(6,769)	$ (6,769)
Acquisition of noncontrolling interest \| $						$ (1,026)						1,026
Translation adjustments								$ 817					817	817
Exercise and vesting of share-based awards			¥ 4,189		(3,375)								814
Exercise and vesting of share-based awards (in shares) \| shares	2,425,294	2,425,294	(2,201,973)	(2,201,973)
Repurchase of common shares			¥ (3,410)										(3,410)
Repurchase of common shares (in shares) \| shares	(1,215,547)	(1,215,547)	1,215,547	1,215,547
Share-based compensation (Note 13) \| $						4,225								4,225
Balance at the End at Dec. 31, 2024	¥ 50		¥ (1,674)		1,045,221		20,040		(995,715)		31,476		99,398
Balance at the End (in Shares) at Dec. 31, 2024 \| shares	80,041,689	80,041,689
Balance at the End, Treasury shares (in Shares) at Dec. 31, 2024 \| shares			442,915	442,915
Net (loss)/income									423		2,151		2,574	369
Translation adjustments							(1,600)						(1,600)	$ (229)
Exercise and vesting of share-based awards	¥ 1		¥ 2,773		124								¥ 2,898
Exercise and vesting of share-based awards (in shares) \| shares	1,244,306	1,244,306	(638,493)	(638,493)									970,693	970,693
Share issuance upon the at-the-market equity offering program (the "ATM Offering") (in shares) \| shares	296,360	296,360
Repurchase of common shares			¥ (7,529)										¥ (7,529)
Repurchase of common shares (in shares) \| shares	(1,611,000)	(1,611,000)	1,611,000	1,611,000
Share-based compensation (Note 13)					3,684								3,684
Balance at the End at Dec. 31, 2025	¥ 51	$ 7	¥ (6,430)	$ (919)	¥ 1,049,029	$ 150,009	¥ 18,440	$ 2,637	¥ (995,292)	$ (142,325)	¥ 33,627	$ 4,809	¥ 99,425	$ 14,218
Balance at the End (in Shares) at Dec. 31, 2025 \| shares	79,971,355	79,971,355
Balance at the End, Treasury shares (in Shares) at Dec. 31, 2025 \| shares			1,415,422	1,415,422

Deferred revenue and customer deposits (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Deferred revenue and customer deposits
Deferred revenue	¥ 121,848	$ 17,424	¥ 87,070
Customer deposits	56,802	8,123	60,041
Total deferred revenue and customer deposits - current	¥ 178,650	$ 25,547	¥ 147,111

Income taxes - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2025 USD ($)
Income taxes
Income tax benefit	¥ 73	$ 10	¥ 110	¥ (1,886)
Effective tax rate	2.60%	2.60%
Deferred tax assets related to net operating loss carry forwards	¥ 254,635		272,542					$ 36,412
Interest and penalties accrued	¥ 0		¥ 0	¥ 0
Income Tax Examination, Description	As of December 31, 2025, the tax years ended December 31, 2020 through period ended December 31, 2025 remain open to examination by the PRC tax authorities.	As of December 31, 2025, the tax years ended December 31, 2020 through period ended December 31, 2025 remain open to examination by the PRC tax authorities.
Income Tax Examination, Year under Examination	2020 2021 2022 2023 2024 2025	2020 2021 2022 2023 2024 2025
China
Income taxes
Effective statutory enterprise income tax rate	25.00%	25.00%	25.00%	25.00%
Income tax benefit	¥ 394	$ 56
Foreign
Income taxes
Income tax benefit	467	$ 66
VIE
Income taxes
Deferred tax assets related to net operating loss carry forwards	¥ 254,635		¥ 272,542					$ 36,412
Send Cloud
Income taxes
Effective preferential income tax rate	15.00%	15.00%	15.00%	15.00%
Preferential tax rate gross	20.00%	20.00%	20.00%	20.00%
Ifaxin Cloud
Income taxes
Effective preferential income tax rate	15.00%	15.00%	15.00%	15.00%
Preferential tax rate gross	20.00%	20.00%	20.00%	20.00%
Singapore
Income taxes
Effective statutory enterprise income tax rate	17.00%	17.00%
Malaysia
Income taxes
Effective statutory enterprise income tax rate	24.00%	24.00%
Hong Kong
Income taxes
Effective statutory enterprise income tax rate	16.50%	16.50%
INDONESIA
Income taxes
Effective statutory enterprise income tax rate	22.00%	22.00%
China
Income taxes
Effective statutory enterprise income tax rate	25.00%	25.00%
Effective preferential income tax rate	15.00%	15.00%	15.00%	15.00%	15.00%	15.00%	15.00%

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Goodwill and Intangible assets - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2025 USD ($)
Goodwill and Intangible assets
Goodwill	¥ 37,785		¥ 37,785		$ 5,403
Impairment charge of goodwill	0		0	¥ 0
Impairment charges recognized on intangible assets	¥ 0		¥ 0	¥ 0
Weighted average useful life of intangible assets	5 years 9 months 18 days	5 years 9 months 18 days	5 years 10 months 24 days	5 years 10 months 24 days
Amortization of intangible assets	¥ 4,225	$ 604	¥ 4,648	¥ 6,223
Intangible assets with an indefinite useful life	0		0
Send Cloud
Goodwill and Intangible assets
Goodwill	¥ 37,785		¥ 37,785		$ 5,403

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Organization and principal activities - Summary of results of comprehensive (loss)/income and cash flows of VIE and subsidiaries (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Organization and principal activities
Revenues	¥ 374,847	$ 53,602	¥ 316,170	¥ 290,232
Cost of revenues	(122,937)	(17,580)	(107,136)	(90,946)
Net (loss)/income	423	61	(7,046)	(62,098)
Net cash provided by/(used in) operating activities	64,885	9,280	8,541	(17,907)
Net cash provided by/(used in) investing activities	(7,457)	(1,065)	(5,375)	25,126
Net cash provided by/(used in) financing activities	(8,047)	(1,151)	1,225	(8,651)
VIE
Organization and principal activities
Revenues	349,192	49,934	306,884	285,304
Cost of revenues	(105,319)	(15,060)	(93,902)	(82,495)
Net (loss)/income	7,040	1,007	2,266	(45,313)
Net cash provided by/(used in) operating activities	(6,025)	(862)	2,580	55,921
Net cash provided by/(used in) investing activities	(2,192)	(313)	(4,436)	22,120
Net cash provided by/(used in) financing activities	¥ (3,000)	$ (429)	¥ 3,000	¥ (59,900)

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Lease - Additional information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Lease
Weighted Average Remaining Lease Term	4 years 1 month 6 days	4 years 1 month 6 days	4 years 2 months 12 days
Weighted Average Discount Rate	2.44%	2.44%	3.61%
Operating Lease Cost	¥ 5,113	$ 731	¥ 5,910	¥ 8,029
Short Term Lease Cost	833	$ 119	742	231
Operating leases capitalized	¥ 0		¥ 0	¥ 0

Income taxes - Summary of Composition of Income Tax Expense (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Income taxes
Current income tax expense	¥ (1,125)	$ (160)	¥ (104)	¥ (3)
Deferred tax benefit/(expense)	1,052	150	(6)	1,889
Total income tax benefit/(expense)	¥ (73)	$ (10)	¥ (110)	¥ 1,886

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Condensed financial information of the parent company - Condensed Balance Sheets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 167,955	$ 24,017	¥ 119,171	¥ 114,521
Restricted Cash	384	55	376	¥ 486
Prepayments and other current assets	15,306	2,188	14,264
Total current assets	231,963	33,170	184,615
Non-current assets:
Long-term investments	112,609	16,103	113,506
Other non-current assets	6,165	882	6,510
Total non-current assets	184,202	26,341	193,418
Total assets	416,165	59,511	378,033
Current liabilities:
Total current liabilities	302,975	43,325	261,633
Total liabilities	316,740	45,293	278,635
Shareholders' equity
Treasury shares (442,915 and 1,415,422 class A common shares as of December 31, 2024 and 2025, respectively)	(6,430)	(919)	(1,674)
Accumulated deficit	(995,292)	(142,325)	(995,715)
Accumulated other comprehensive income	18,440	2,637	20,040
Total shareholders' equity	65,798	9,409	67,922
Total liabilities and shareholders' equity	416,165	59,511	378,033
Parent Company
Current assets:
Cash and cash equivalents	23,208	3,319	3,291
Total amounts due from related parties	10,383	1,485	10,592
Prepayments and other current assets	8,312	1,189	6,893
Non-current assets:
Long-term investments	306,164	43,781	304,090
Other non-current assets	5,016	717	5,130
Total non-current assets	311,180	44,498	309,220
Total assets	353,083	50,491	329,996
Current liabilities:
Accrued liabilities and other current liabilities	3,633	520	2,342
Due to the entities within the Group	283,652	40,562	259,732
Total current liabilities	287,285	41,082	262,074
Total liabilities	287,285	41,082	262,074
Shareholders' equity
Treasury shares (442,915 and 1,415,422 class A common shares as of December 31, 2024 and 2025, respectively)	(6,430)	(919)	(1,674)
Additional paid in capital	1,049,029	150,009	1,045,221
Accumulated deficit	(995,292)	(142,325)	(995,715)
Accumulated other comprehensive income	18,440	2,637	20,040
Total shareholders' equity	65,798	9,409	67,922
Total liabilities and shareholders' equity	353,083	50,491	329,996
Parent Company \| Affiliated Entity
Current assets:
Total current assets	41,903	5,993	20,776
Class A Common Shares
Shareholders' equity
Common shares	40	5	39
Class A Common Shares \| Parent Company
Shareholders' equity
Common shares	40	5	39
Class B Common Shares
Shareholders' equity
Common shares	11	2	11
Class B Common Shares \| Parent Company
Shareholders' equity
Common shares	¥ 11	$ 2	¥ 11

Subsequent Event (Details)	Feb. 11, 2026 $ / shares shares
American Depositary Shares
Subsequent Event
Class of warrant, exercise price \| $ / shares	$ 13.8
Subsequent event \| Common Stock
Subsequent Event
Class of warrant, number of securities \| shares	9,666,666
Class of warrant, exercise price \| $ / shares	$ 1.035
Subsequent event \| American Depositary Shares
Subsequent Event
Class of warrant, number of securities \| shares	725,000

Income taxes

12 Months Ended

Dec. 31, 2025

Income taxes

Income taxes

14Income taxes

Cayman Islands

Under the current tax laws of Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. Besides, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands

Under the current laws of the British Virgin Islands (“BVI”), the Company’s BVI incorporated subsidiaries are not subject to tax on income or capital gains arising in BVI. In addition, upon payments of dividends by this entity to its shareholders, no BVI withholding tax will be imposed.

Singapore

Under the Singapore tax laws, the subsidiary in Singapore is subject to 17% income tax rate on any taxable income accruing in or derived from Singapore, or received in Singapore from outside Singapore.

Malaysia

Under the Malaysia tax laws, the subsidiary in Malaysia is subject to 24% income tax rate on its chargeable income accruing in or derived from Malaysia. Certain of the subsidiary in Malaysia is subject to partial income tax exemptions if certain conditions are met.

Indonesia

Under the current laws of Indonesia, the Company’s subsidiary incorporated in Indonesia is subject to 22% income tax on its taxable income generated from operations in Indonesia.

Hong Kong

Under the Hong Kong tax laws, the subsidiaries in Hong Kong are subject to the Hong Kong profits tax rate at 16.5% and it may be exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends.

14Income taxes (continued)

China

Effective from January 1, 2008, the PRC’s statutory, Enterprise Income Tax (“EIT”) rate is 25%. In accordance with the implementation rules of EIT Law, a qualified “High and New Technology Enterprise” (“HNTE”) is eligible for a preferential tax rate of 15%. The HNTE certificate is effective for a period of three years. An entity must file required supporting documents with the tax authority and ensure fulfillment of the relevant HNTE criteria before using the preferential rate. An entity could re-apply for the HNTE certificate when the prior certificate expires. The HNTE certificate of the VIE was obtained in December 2019 and expired in December 2021. The VIE re-applied and obtained the HNTE certificate in December 2022 and again in December 2025, each with a validity period of three years. It was entitled to the preferential rate of 15% for 2023, 2024 and 2025. In early 2021, the WFOE was recognized as an HNTE and was eligible for 15% preferential tax rate from 2020 to 2022. The WFOE re-applied and obtained the certificate of high and new technology enterprise with a validity period of three years starting December 2023. It was entitled to the preferential rate of 15% for 2023, 2024 and 2025. SendCloud was classified as “small and micro businesses” in 2023 and 2024, and obtained the HNTE certificate with a validity period of three years starting from December 2024 onwards. SendCloud enjoyed a preferential tax rate of 20% with a discount to taxable income for 2023 and 2024, and was entitled to the preferential rate of 15% for 2025. Ifaxin (Hubei) Cloud Computing Co. Ltd. (“Ifaxin”) was classified as “small and micro businesses” in 2023, 2024 and 2025. Ifaxin enjoyed a preferential tax rate of 20% with a discount to taxable income for 2023, 2024 and 2025.

The Company’s (loss)/income before income taxes consists of:


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Cayman Islands	(16,192)		(7,466)		(5,956)		(852)
British Virgin Islands	—		(37)		(83)		(12)
Hong Kong	(1,982)		(2,699)		(1,355)		(194)
Singapore	96		341		3,967		567
Malaysia	—		(253)		(1,905)		(272)
Indonesia	—		—		(43)		(6)
China	(46,476)		3,455		8,022		1,148
Total (loss)/income before income taxes	(64,554)		(6,659)		2,647		379

For the year ended December 31, 2025, income tax benefit amounted to RMB394 (US$56) in Chinese mainland, and income tax expense amounted to RMB467 (US$66) in jurisdictions outside Chinese mainland.

Income taxes consist of:


	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB		US$
Current income tax expense	(3)		(104)		(1,125)		(160)
Deferred tax benefit/(expense)	1,889		(6)		1,052		150
Total income tax benefit/(expense)	1,886		(110)		(73)		(10)

14Income taxes (continued)

Reconciliation between expenses of income taxes

Reconciliation between the expense of income taxes computed by applying the statutory tax rate to (loss)/income before income taxes and the actual provision for income taxes is as follows:


	Year ended December 31,
	2023		2024
	RMB		RMB
Loss before income tax	(64,554)		(6,659)
Income tax expense computed at PRC statutory rate (25%)	(16,139)		(1,665)
International tax rate differential	4,206		2,080
Preferential tax rate	10,613		(16,830)
Deferred tax items tax rate differential	(6,502)		15,283
Research and development super-deduction	(26,393)		(19,403)
Non-deductible expenses	3,438		2,257
Deferred tax expenses	49		1,423
Non-taxable income	—		(3)
Recognition of prior year tax loss	—		2,156
Deemed income	—		59,152
Changes in valuation allowance	28,842		(44,340)
Income tax (benefit)/expense	(1,886)		110


	Year ended December 31,
	2025
	Amount			Percent
	RMB	US$		%
Income tax expense computed at PRC statutory rate (25%)	662	95		25.0
Foreign Tax Effects
Cayman
Statutory tax rate difference between Cayman and PRC	1,489	213		56.2
Other foreign jurisdictions	323	46		12.1
Changes in Valuation Allowances	(7,316)	(1,046)		(276.0)
Nontaxable or Nondeductible Items
Meals and entertainment	1,627	233		61.5
Others	662	95		25.0
Other Adjustments
Out of period adjustment	5,176	740		195.3
Research and development super-deduction	(1,760)	(252)		(66.5)
Preferential tax rate	(1,230)	(176)		(46.4)
Adjustment for tax return amendments	824	118		31.1
Others	(384)	(56)		(14.7)
Income tax expense	73	10		2.6

14Income taxes (continued)

Deferred tax assets and liabilities

The tax effects of temporary differences that give rise to the deferred tax balances as of December 31, 2024 and 2025 are as follows:


	As of December 31,
	2024		2025
	RMB		RMB		US$
Deferred tax assets
Provision for credit losses	5,422		5,799		829
Share of loss from equity method investments	113		113		16
Accrued expenses	2,007		1,068		153
Net operating loss carry forward	272,542		254,635		36,412
Government grants related to assets	158		94		13
Estimated liabilities	—		27		4
Lease liabilities	4,231		3,355		480
Data asset	—		11,565		1,654
Less: Valuation allowance	(279,902)		(273,251)		(39,074)
Total deferred tax assets	4,571		3,405		487

Deferred tax liabilities
Property and equipment depreciation	(102)		(53)		(8)
Operating lease right-of-use assets	(4,057)		(3,215)		(459)
Intangible assets arising from acquisition	(3,340)		(2,014)		(288)
Total deferred tax liabilities	(7,499)		(5,282)		(755)

Net deferred tax assets	131		6		1
Net deferred tax liabilities	(3,059)		(1,883)		(269)

The Company operates through its WFOE, the VIE and the subsidiaries of the VIE, and evaluates the potential realization of deferred tax assets on an entity basis. The Company recorded valuation allowance against deferred tax assets of those entities that were in a three-year cumulative financial loss or had incurred losses since inception and are not forecasting profits in the near future as of December 31, 2024 and 2025. In making such determination, the Company also evaluated a variety of factors including the Company’s operating history, accumulated deficit, existence of taxable temporary differences and reversal periods.

The Company had deferred tax assets related to net operating loss carry forwards of RMB272,542 and RMB254,635 (US$36,412) mainly from its WFOE, the VIE and the subsidiaries of the VIE in China as of December 31, 2024 and 2025, which can be carried forward to offset taxable income. The net operating losses of its WFOE, the VIE and the subsidiaries of the VIE will expire in years 2026 to 2035 if not utilized for the subsidiaries in China. For the subsidiary in Hong Kong, the net operating losses are indefinite to be utilized.

14Income taxes (continued)

The aggregate changes in the balance of unrecognized tax benefits for the years ended December 31, 2023, 2024 and 2025 were as follows:


	Year ended December 31,
	2023	2024	2025
	RMB	RMB	RMB	US$
Beginning balance	117	117	117	17
Increase of unrecognized tax benefits taken in prior years	—	—	40,375	5,774
Ending balance	117	117	40,492	5,791

As of December 31, 2023, 2024 and 2025, the Company had recorded unrecognized tax benefits of RMB117, RMB117 and RMB40,492 (US$5,791), of which nil, nil and RMB40,375 (US$5,774), respectively, are presented on a net basis against the deferred tax assets related to tax loss carry forwards on the consolidated balance sheets. As of December 31, 2023, 2024 and 2025, there were RMB117, RMB117 and RMB117(US$17) of unrecognized tax benefits that, if ultimately recognized, will impact the effective tax rate.

The Company did not recognize significant interest and penalties accrued related to unrecognized tax benefits in income tax expenses as of December 31, 2023, 2024 and 2025.

As of December 31, 2025, the tax years ended December 31, 2020 through period ended December 31, 2025 remain open to examination by the PRC tax authorities.

- Definition

The entire disclosure for income tax.

+ References

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+ Details