Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021 shares | |
Document Information [Line Items] | |
Document Type | 20-F/A |
Amendment Flag | true |
Amendment Description | NaaS Technology Inc. (the “Company”) is filing this Amendment No. 1 to Shell Company Report on Form 20-F (this “Amendment No. 1”) to amend its Shell Company Report on Form 20-F as filed with the Securities and Exchange Commission (the “SEC”) on June 16, 2022 (the “Original Filing”). This Amendment No.1 is being filed to:1.amend and restate (i) the combined financial statements of NaaS (as defined below under the section “Introduction”) as of and for the years ended December 31, 2020, and 2021, together with the notes thereto, included in the Original Filing and (ii) the pro forma condensed combined statement as of and for the year ended December 31, 2021, together with the notes thereto, included in the Original Filing (such financial statements as originally filed, the “Prior Financial Statements”); and 2.update certain disclosures in “Item 3. Key Information,” “Item 4.B. Business Overview,” “Item 5. Operating and Financial Review and Prospects,” “Item 7.B. Related Party Transactions,” “Item 8. Financial Information,” “Item 17. Financial Statements,” “Item 18. Financial Statements” and “Item 19. Exhibits” in connection with the amendment and restatement as described in paragraph 1 and/or to reflect certain developments that have occurred subsequent to June 16, 2022 and other revisions. This Amendment No.1 restates the Prior Financial Statements to correct the presentation of revenues to be consistent with our recognition and measurement policy for each class of revenues and reflects other adjustments that the Company found necessary or appropriate, including mainly the following: •revising the presentation of gross revenues, incentive to end-users and net revenues.•revising the measurement policy for revenues from membership program and full station operation.•revising to disclose all required information in accordance with IAS 1.79. •revising to disclose all required contract balances information in accordance with paragraphs 116 through 118 of IFRS 15.•reclassifying platform service fee, bandwidth expenses and server custody costs from research and development expenses to cost of revenues. •reclassifying balance sheet line items, such as reclassifying balances related to sales of charging piles from prepayments, other receivables and other assets to trade receivables, and balances related to payables to charging station from other payables and accruals to trade and bills payables, etc.•revising to recognize the share-based compensation related to the share awards granted by Newlink (as defined below) to certain of our employees, according to the evaluation of transfer pricing policies of our transfer pricing advisor, which was completed in January 2023. The Company also updated the disclosure of related party transaction accordingly.•updating IFRIC 23 provisions on corporate income tax, according to the best estimation as of respective balance sheet dates.•updating certain VAT-related balances and revising the method of estimating the recoverability of uncollected input VAT receipts (which is recorded in other receivables) and adjusting previously recognized provision accordingly.•updating discount rate to calculate interest expense on lease liabilities, based on the actual finance cost as of respective balance sheet dates.For more information on the restatement of the Prior Financial Statements, see the restated combined financial statements of NaaS as of and for the years ended December 31, 2020, and 2021, together with the notes thereto, as well as the restated pro forma condensed combined statement as of and for the year ended December 31, 2021, together with the notes thereto, included in this Amendment No. 1. In light of the restatement, readers should not rely on the Prior Financial Statements. Other than as set forth herein, the Company has not modified or updated any other disclosures and has made no changes to the items or sections in the Original Filing. Other than as expressly stated in this Amendment No. 1, this Amendment No. 1 does not, and does not purport to, amend, update or restate the information in any part of the Original Filing or reflect any events that have occurred after the Original Filing was filed on June 16, 2022. The filing of this Amendment No. 1 should not be understood to mean that any other statements contained in the Original Filing are true and complete as of any date subsequent to June 16, 2022. Accordingly, this Amendment No. 1 should be read in conjunction with the Original Filing and the documents filed with or furnished to the SEC by the Company subsequent to June 16, 2022, including any amendments to such documents, as information in such documents may update or supersede certain information contained in this Amendment No. 1. |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | NaaS Technology Inc. |
Entity Central Index Key | 0001712178 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | true |
Document Transition Report | false |
Document Annual Report | false |
Document Shell Company Report | true |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Registration Statement | false |
Securities Act File Number | 001-38235 |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | Newlink Center, Area G, Building 7 |
Entity Address, Address Line Two | Huitong Times Square |
Entity Address, Address Line Three | No.1 Yaojiayuan South Road |
Entity Address, City or Town | Chaoyang District |
Entity Address, Postal Zip Code | 100024 |
Entity Address, Country | CN |
Document Accounting Standard | International Financial Reporting Standards |
Entity Well-known Seasoned Issuer | No |
ICFR Auditor Attestation Flag | false |
Auditor Name | Centurion ZD CPA & Co. |
Auditor Firm ID | 2769 |
Auditor Location | Hong Kong, China |
Document Shell Company Event Date | Jun. 10, 2022 |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Alex Wu |
Entity Address, Address Line One | Newlink Center, Area G, Building 7 |
Entity Address, Address Line Two | Huitong Times Square |
Entity Address, Address Line Three | No.1 Yaojiayuan South Road |
Entity Address, City or Town | Chaoyang District |
Entity Address, Postal Zip Code | 100024 |
Entity Address, Country | CN |
City Area Code | 86 |
Local Phone Number | (10) 8551 1066 |
ADR [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American depositary shares, each representing 10 Class A ordinary shares, par value US$0.01 per share |
Trading Symbol | NAAS |
Security Exchange Name | NASDAQ |
Class A ordinary shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Class A ordinary shares, par value US$0.01 per share |
Entity Common Stock, Shares Outstanding | 494,048,037 |
No Trading Symbol Flag | true |
Class B ordinary shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 248,888,073 |
Class C ordinary shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 1,398,659,699 |
Combined Statements of Financia
Combined Statements of Financial Position - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
CURRENT ASSETS | ||||||
Cash and cash equivalents | ¥ 8,489 | ¥ 3,665 | ¥ 2,124 | |||
Trade receivables | 38,456 | 4,824 | ||||
Prepayments, other receivables and other assets | 105,833 | 49,859 | ||||
Total current assets | 152,778 | 58,348 | ||||
Non-current assets | ||||||
Right-of-use assets | 19,766 | 18,313 | 3,864 | |||
Financial assets at fair value through profit or loss | 5,000 | |||||
Property, plant and equipment | 548 | |||||
Deferred tax assets | 0 | 0 | ||||
Total non-current assets | 25,314 | 18,313 | ||||
Total assets | 178,092 | 76,661 | ||||
Current liabilities | ||||||
Current lease liabilities | 7,067 | 3,935 | ||||
Trade payables | 16,872 | 4,320 | ||||
Other payables and accruals | 112,148 | 39,947 | ||||
Total current liabilities | 136,087 | 48,202 | ||||
Non-current liabilities | ||||||
Non-current lease liabilities | 12,566 | 13,901 | ||||
Total non-current liabilities | 12,566 | 13,901 | ||||
Total liabilities | 148,653 | 62,103 | ||||
EQUITY | ||||||
Combined capital | [1] | 0 | [2] | 0 | [3] | |
Additional paid in capital | 423,329 | 147,986 | ||||
Accumulated losses | (393,890) | (133,428) | ||||
Total equity | 29,439 | 14,558 | ¥ 24,073 | |||
Total equity and liabilities | ¥ 178,092 | ¥ 76,661 | ||||
[1] Representing amount less than RMB1,000. * Representing amount less than RMB1,000. * Representing amount less than RMB1,000. |
Combined Statements of Loss and
Combined Statements of Loss and Other Comprehensive Loss - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statements [Line Items] | ||
Net Revenues | ¥ 33,453 | ¥ 6,163 |
Other gains, net | 138 | 319 |
Operating costs | ||
Cost of revenues | (29,587) | (6,547) |
Selling and marketing expenses | (193,340) | (46,458) |
Administrative expenses | (34,458) | (11,956) |
Research and development expenses | (30,253) | (17,644) |
Total operating costs | (287,638) | (82,605) |
Operating loss | (254,047) | (76,123) |
Finance costs | (1,097) | (300) |
Net loss before income tax | (255,144) | (76,423) |
Income tax expenses | (5,318) | (1,474) |
Net loss | (260,462) | (77,897) |
Net loss attributable to: | ||
Equity holders of the Company | (260,462) | (77,897) |
Net loss | ¥ (260,462) | ¥ (77,897) |
Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company | ||
Basic loss per share | ¥ (1,835) | ¥ (52,991) |
Diluted loss per share | ¥ (1,835) | ¥ (52,991) |
Loss for the year | ¥ (260,462) | ¥ (77,897) |
Total comprehensive loss | (260,462) | (77,897) |
Total comprehensive loss attributable to: | ||
Equity holders of the Company | (260,462) | (77,897) |
Total comprehensive loss | (260,462) | (77,897) |
Online EV Charging Solutions | ||
Statements [Line Items] | ||
Net revenues from rendering of services | 17,985 | 5,455 |
Offline EV Charging Solutions | ||
Statements [Line Items] | ||
Net revenues from rendering of services | 15,102 | 565 |
Non-Charging Solutions and Other Services | ||
Statements [Line Items] | ||
Net revenues from rendering of services | ¥ 366 | ¥ 143 |
Combined Statements of Changes
Combined Statements of Changes in Equity - CNY (¥) ¥ in Thousands | Total | Combined capital | Additional paid-in capital | Accumulated losses | ||
Beginning balance at Dec. 31, 2019 | ¥ 24,073 | ¥ 0 | [1] | ¥ 79,604 | ¥ (55,531) | |
Comprehensive loss | ||||||
Loss for the year | (77,897) | 0 | 0 | (77,897) | ||
Total comprehensive loss | (77,897) | 0 | 0 | (77,897) | ||
Transactions with equity holders: | ||||||
Issuance of ordinary shares | [1] | 0 | 0 | |||
Contribution from a shareholder | 68,382 | 68,382 | ||||
Ending balance at Dec. 31, 2020 | 14,558 | 0 | [1] | 147,986 | (133,428) | |
Comprehensive loss | ||||||
Loss for the year | (260,462) | (260,462) | ||||
Total comprehensive loss | (260,462) | 0 | 0 | (260,462) | ||
Transactions with equity holders: | ||||||
Contribution from a shareholder | 264,555 | 264,555 | ||||
Share-based compensation from shareholder's ESOP | 10,788 | 10,788 | ||||
Ending balance at Dec. 31, 2021 | ¥ 29,439 | ¥ 0 | [1] | ¥ 423,329 | ¥ (393,890) | |
[1] Representing amount less than RMB1,000. |
Combined Statements of Cash Flo
Combined Statements of Cash Flows - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities | ||
Cash used in operations | ¥ (219,114) | ¥ (56,940) |
Net cash used in operating activities | (219,114) | (56,940) |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (606) | |
Purchase of financial assets at fair value through profit or loss | (5,000) | |
Net cash flows used in investing activities | (5,606) | |
Cash flows from financing activities | ||
Interests paid | (193) | |
Payments of lease liabilities | (1,881) | |
Contribution from a shareholder | 231,618 | 58,481 |
Net cash flows generated from financing activities | 229,544 | 58,481 |
Net increase in cash and cash equivalents | 4,824 | 1,541 |
Cash and cash equivalents at the beginning of the year | 3,665 | 2,124 |
Cash and cash equivalents at the end of the year | ¥ 8,489 | ¥ 3,665 |
Restatement of Previously Issue
Restatement of Previously Issued Consolidated Financial Statements | 12 Months Ended |
Dec. 31, 2021 | |
Restatement of Previously Issued Consolidated Financial Statements [Abstract] | |
Restatement of Previously Issued Consolidated Financial Statements | 1. Restatement of Previously Issued Consolidated Financial Statements NaaS Technology Inc. has restated its Combined Statements of Financial Position as of December 31, 2021 and 2020, Combined Statements of Loss and Other Comprehensive Loss, Changes in Equity and Cash Flows for each of the fiscal years ended December 31, 2021 and 2020, included in the Annual Report on Form 20-F for the fiscal year ended December 31, 2021, which was originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 16, 2022 (the “Original 20-F”). The “Group”, means (i) prior to the completion of the Restructuring, subsidiaries and VIEs of Newlink that provided EV charging services in China, and (ii) upon and after the completion of the Restructuring, Dada Auto, its subsidiaries, and for the period during which Dada Auto maintained VIE arrangements with Kuaidian Power (Beijing) New Energy Technology Co., Ltd., the VIE Kuaidian Power (Beijing) New Energy Technology Co., Ltd. The individual restatement matters that underlie the restatement adjustments are described below: • revising the presentation of gross revenues, incentive to end-users and net revenues. • revising the measurement policy for revenue from membership program and full station operation. The Group offers a membership program to its registered users on the platform. The Group has determined that each membership benefit provided over the membership period is a material right that would need to be accounted for as a performance obligation. The Group recognizes revenue when the underlying benefit is redeemed by the customer on a transaction by transaction basis as part of online EV charging solution services or when the benefit is expired. • revising to disclose all required information of share capital in accordance with IAS 1.79. • revising to disclose all required contract balances information in accordance with paragraphs 116 through 118 of IFRS 15. • reclassifying platform service fee, bandwidth expenses and server custody costs from research and development expenses to cost of revenue, as it relates to generation of revenues. • reclassifying balance sheet line items, such as reclassifying balances related to sales of charging piles from prepayments, other receivables and other assets to trade receivables , and balances related to payables to charging station from other payables and accruals to trade and bills payables , etc. This is mainly due to those balances was related to trading activities with customers and suppliers. • revising to recognize the share-based compensation related to the share awards granted by Newlink to certain of our employees, according to the evaluation of transfer pricing policies of our transfer pricing advisor, which was completed in January 2023. EV charging service business was historically part of Newlink’s businesses and were conducted by Newlink and its consolidated entities at the time. Prior to the completion of the Restructuring, Newlink granted options to certain of its employees associated with the EV Charging Business, which employees were subsequently transferred to the Group as part of the Restructuring. The allocation of share-based compensation in 2021 was approximately RMB 10.7 million and credited to additional paid in capital accordingly. The Company also updated the disclosure of related party transaction accordingly. • updating IFRIC 23 provisions on corporate income tax, according to the best estimation as of respective balance sheet dates. • updating certain VAT-related balances and revising the method of estimating the recoverability of uncollected input VAT receipts (which is recorded in other receivables) and adjusting previously recognized provision accordingly. • updating discount rate to calculate interest expense on lease liabilities, based on the actual finance cost as of respective balance sheet dates. The following presents a reconciliation of the impacted financial statement line items as filed to the restated amounts as of December 31, 2020 and 2021, and for the years ended December 31, 2020 and 2021. The previously reported amounts reflect those included in the Original Filing filed with the SEC on June 16, 2022. These amounts are labeled as “As Filed” in the tables below. The amounts labeled “Restatement Adjustments” represent the effects of this restatement due to the revisions mentioned above. As of December 31, 2020 As Filed Restatement As Restated Combined statements of financial position Adjustments RMB’000 RMB’000 RMB’000 ASSETS CURRENT ASSETS Cash and cash equivalents 3,665 — 3,665 Trade receivables — 4,824 4,824 Prepayments, other receivables and other assets 44,693 5,166 49,859 Total current assets 48,358 9,990 58,348 Non-current assets Right-of-use assets 19,237 ( 924 ) 18,313 Financial assets at fair value through profit or loss — — — Property, plant and equipment — — — Deferred tax assets 9 ( 9 ) — Total non-current assets 19,246 ( 933 ) 18,313 Total assets 67,604 9,057 76,661 LIABILITIES AND EQUITY Current liabilities Current lease liabilities 4,216 ( 281 ) 3,935 Trade payables — 4,320 4,320 Other payables and accruals 39,234 713 39,947 Total current liabilities 43,450 4,752 48,202 Non-current liabilities Non-current lease liabilities 14,390 ( 489 ) 13,901 Total non-current liabilities 14,390 ( 489 ) 13,901 Total liabilities 57,840 4,263 62,103 EQUITY Combined capital — * — — * Additional paid in capital 147,986 — 147,986 Accumulated losses ( 138,222 ) 4,794 ( 133,428 ) Total equity 9,764 4,794 14,558 Total equity and liabilities 67,604 9,057 76,661 * Representing amount less than RMB1,000. As of December 31, 2021 As Filed Restatement As Restated Combined statements of financial position Adjustments RMB’000 RMB’000 RMB’000 ASSETS CURRENT ASSETS Cash and cash equivalents 8,726 ( 237 ) 8,489 Trade receivables 740 37,716 38,456 Prepayments, other receivables and other assets 117,498 ( 11,665 ) 105,833 Total current assets 126,964 25,814 152,778 Non-current assets Right-of-use assets 20,554 ( 788 ) 19,766 Financial assets at fair value through profit or loss 5,000 — 5,000 Property, plant and equipment 548 — 548 Deferred tax assets 337 ( 337 ) — Total non-current assets 26,439 ( 1,125 ) 25,314 Total assets 153,403 24,689 178,092 LIABILITIES AND EQUITY Current liabilities Current lease liabilities 8,061 ( 994 ) 7,067 Trade payables 437 16,435 16,872 Other payables and accruals 107,440 4,708 112,148 Total current liabilities 115,938 20,149 136,087 Non-current liabilities Non-current lease liabilities 12,396 170 12,566 Total non-current liabilities 12,396 170 12,566 Total liabilities 128,334 20,319 148,653 EQUITY Combined capital — * — — * Additional paid in capital 415,601 7,728 423,329 Accumulated losses ( 390,532 ) ( 3,358 ) ( 393,890 ) Total equity 25,069 4,370 29,439 Total equity and liabilities 153,403 24,689 178,092 * Representing amount less than RMB1,000. Year ended December 31, 2020 As Filed Restatement As Restated Combined statements of loss and other comprehensive loss Adjustments RMB’000 RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 5,124 331 5,455 Net Revenues from Offline EV Charging Solutions 565 — 565 Net Revenues from Non-Charging Solutions and Other Services 143 — 143 Net Revenues 5,832 331 6,163 Other (losses)/ gains, net ( 19 ) 338 319 Operating costs Cost of revenues ( 8,625 ) 2,078 ( 6,547 ) Selling and marketing expenses ( 47,214 ) 756 ( 46,458 ) Administrative expenses ( 11,755 ) ( 201 ) ( 11,956 ) Research and development expenses ( 20,448 ) 2,804 ( 17,644 ) Total operating costs ( 88,042 ) 5,437 ( 82,605 ) Operating loss ( 82,229 ) 6,106 ( 76,123 ) Finance costs 89 ( 389 ) ( 300 ) Net loss before income tax ( 82,140 ) 5,717 ( 76,423 ) Income tax expenses ( 42 ) ( 1,432 ) ( 1,474 ) Net loss ( 82,182 ) 4,285 ( 77,897 ) Net loss attributable to: Equity holders of the Company ( 82,182 ) 4,285 ( 77,897 ) ( 82,182 ) 4,285 ( 77,897 ) Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company (Expressed in RMB per share) Basic loss per share ( 55,906 ) 2,915 ( 52,991 ) Diluted loss per share ( 55,906 ) 2,915 ( 52,991 ) Net loss ( 82,182 ) 4,285 ( 77,897 ) Total comprehensive loss ( 82,182 ) 4,285 ( 77,897 ) Total comprehensive loss attributable to: Equity holders of the Company ( 82,182 ) 4,285 ( 77,897 ) ( 82,182 ) 4,285 ( 77,897 ) Year ended December 31, 2021 As Filed Restatement As Restated Combined statements of loss and other comprehensive loss Adjustments RMB’000 RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 10,104 7,881 17,985 Net Revenues from Offline EV Charging Solutions 7,060 8,042 15,102 Net Revenues from Non-Charging Solutions and Other Services 610 ( 244 ) 366 Net Revenues 17,774 15,679 33,453 Other (losses)/ gains, net ( 1,402 ) 1,540 138 Operating costs Cost of revenues ( 18,863 ) ( 10,724 ) ( 29,587 ) Selling and marketing expenses ( 183,165 ) ( 10,175 ) ( 193,340 ) Administrative expenses ( 28,458 ) ( 6,000 ) ( 34,458 ) Research and development expenses ( 37,158 ) 6,905 ( 30,253 ) Total operating costs ( 267,644 ) ( 19,994 ) ( 287,638 ) Operating loss ( 251,272 ) ( 2,775 ) ( 254,047 ) Finance costs ( 640 ) ( 457 ) ( 1,097 ) Net loss before income tax ( 251,912 ) ( 3,232 ) ( 255,144 ) Income tax expenses ( 398 ) ( 4,920 ) ( 5,318 ) Net loss ( 252,310 ) ( 8,152 ) ( 260,462 ) Net loss attributable to: Equity holders of the Company ( 252,310 ) ( 8,152 ) ( 260,462 ) ( 252,310 ) ( 8,152 ) ( 260,462 ) Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company (Expressed in RMB per share) Basic loss per share ( 50,462 ) 48,627 ( 1,835 ) Diluted loss per share ( 50,462 ) 48,627 ( 1,835 ) Net loss ( 252,310 ) ( 8,152 ) ( 260,462 ) Total comprehensive loss ( 252,310 ) ( 8,152 ) ( 260,462 ) Total comprehensive loss attributable to: Equity holders of the Company ( 252,310 ) ( 8,152 ) ( 260,462 ) ( 252,310 ) ( 8,152 ) ( 260,462 ) Year ended December 31, 2020 As Filed Restatement As Restated Combined statements of cash flows Adjustments RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash used in operations ( 63,014 ) 6,074 ( 56,940 ) Net cash used in operating activities ( 63,014 ) 6,074 ( 56,940 ) Cash flows from investing activities Purchase of property, plant and equipment — — — Purchase of financial assets at fair value through profit or loss — — — Net cash flows used in investing activities — — — Cash flows from financing activities Interests paid ( 189 ) 189 — Payments of lease liabilities ( 3,956 ) 3,956 — Contribution from a shareholder 68,700 ( 10,219 ) 58,481 Net cash flows generated from financing activities 64,555 ( 6,074 ) 58,481 Net increase in cash and cash equivalents 1,541 — 1,541 Cash and cash equivalents at the beginning of the year 2,124 — 2,124 Cash and cash equivalents at the end of the year 3,665 — 3,665 Year ended December 31, 2021 As Filed Restatement As Restated Combined statements of cash flows Adjustments RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash used in operations ( 250,035 ) 30,921 ( 219,114 ) Net cash used in operating activities ( 250,035 ) 30,921 ( 219,114 ) Cash flows from investing activities Purchase of property, plant and equipment ( 606 ) — ( 606 ) Purchase of financial assets at fair value through profit or loss ( 5,000 ) — ( 5,000 ) Net cash flows used in investing activities ( 5,606 ) — ( 5,606 ) Cash flows from financing activities Interests paid ( 767 ) 574 ( 193 ) Payments of lease liabilities ( 6,146 ) 4,265 ( 1,881 ) Contribution from a shareholder 267,615 ( 35,997 ) 231,618 Net cash flows generated from financing activities 260,702 ( 31,158 ) 229,544 Net increase in cash and cash equivalents 5,061 ( 237 ) 4,824 Cash and cash equivalents at the beginning of the year 3,665 — 3,665 Cash and cash equivalents at the end of the year 8,726 ( 237 ) 8,489 In addition, amounts were restated in the following: • Note 3. Financial risk management • Note 6. Cash and cash equivalents • Note 7. Trade receivables • Note 8. Prepayments, other receivables and other assets • Note 10. Lease • Note 11. Financial asset at fair value through profit or loss • Note 13. Other payables and accruals • Note 14. Combined capital and additional paid in capital • Note 15. Revenues • Note 16. Other losses, net • Note 17. Operating costs by nature • Note 18. Finance costs • Note 19. Taxation • Note 20. Loss per share • Note 24. Related party transaction |
Corporate information
Corporate information | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Corporate Information [Abstract] | |
Corporate information | 2. Corporate information 2.1. General information Dada Auto (the “Company”) was incorporated in the Cayman Islands on July 15, 2019 as an exempted company with limited liability. The Company is a holding company. Since May 2022, upon the Reorganization, the Company and its subsidiaries comprised the Group, see Note 2.2 for details. The Company has not commenced any business or operation till December 31, 2021, since its incorporation other than the Reorganization. 2.2. History and reorganization of the Group The EV charging services were launched in 2019 through Chezhubang (Beijing) Technology Co., Ltd. (“Chezhubang Technology”), and its subsidiaries Beijing Chezhubang New Energy Technology Co., Ltd. (“Beijing Chezhubang”) and Kuaidian Power (Beijing) New Energy Technology Co., Ltd. (“Kuaidian Power Beijing”), which were established by Chezhubang Technology in July 2018 and August 2019, respectively. Chezhubang Technology was controlled by Newlink. Kuaidian Power Beijing subsequently acquired Shaanxi Kuaidian Mobility Technology Co., Ltd. (“Shaanxi Kuaidian”) in May 2020. The consideration was immaterial, because no substantial operation was conducted by Shaanxi Kuaidian when acquired. In July 2019, Dada Auto was established in the Cayman Islands as the holding company to facilitate the Group’s offshore financing. In September 2020, Kuaidian Power Beijing established a wholly-owned subsidiary, Zhidian Youtong Technology Co., Ltd. (“Zhidian Youtong”). In February 2021, Cosmo Light (Beijing) New Energy Technology Co., Ltd. (“Cosmo Light”) was established. In April 2021, Xixian New District Constant Energy Joint New Energy Automobile Co., Ltd. (“XXND Automobile”) and Qingdao Hill Matrix New Energy Technology Co., Ltd. (“QHM New Energy”) were established. Ownership interests in Cosmo Light was held by Shandong Cosmo Light Co., Ltd, and XXND Automobile and QHM New Energy were held by Zhejiang Huzhou Matrix Co., Ltd. In September 2021, Beijing Chezhubang acquired 100 % of the ownership interest in Shaanxi Kuaidian. In early 2022, the Company entered into a series of transactions to restructure its organization and its EV charging service business (the “Reorganization”). In connection with the Reorganization, various intermediate holding companies were established, including Fleetin HK Limited in March 2020. Fleetin HK Limited further established Zhejiang Anji Intelligent Electronics Holding Co., Ltd. (“Anji Zhidian”), a wholly-owned subsidiary in China, in December 2021. As part of the Reorganization, Anji Zhidian acquired 100 % of the ownership interest in Beijing Chezhubang from Chezhubang Technology, and Beijing Chezhubang in turn acquired 100 % of the ownership interest in Zhidian Youtong. In conjunction therewith the Company acquired: (a) 100 % equity interests in Cosmo Light through Shandong Cosmo Light Limited in March 2022, and (b) 100 % equity interests in QHM New Energy through Zhejiang Huzhou Hill Matrix Limited in March 2022, and (c) 80 % equity interests in XXND Automobile through Zhejiang Huzhou Hill Matrix Limited in March 2022. Kuaidian Power Beijing entered into VIE arrangement with Anji Zhidian from January 5, 2022 to April 5, 2022, temporarily, and then Anji Zhidian acquired 100 % of the equity interests in Kuaidian Power Beijing as part of the Reorganization. 2.3. Subsidiaries The Company’s major subsidiaries as at December 31, 2021 are set out below. The country of incorporation or registration is also their principal place of business. Name of entity Place of Date of Effective interest Principal activities Subsidiaries Kuaidian Power (Beijing) New Energy Technology Co., Ltd. Beijing, China August 20, 2019 100 % Online EV Charging Solutions, Non-Charging Solutions and Other Services Beijing Chezhubang New Energy Technology Co., Ltd. Beijing, China July 18, 2018 100 % Online EV Charging Solutions Zhidian Youtong Technology Co., Ltd. Shandong, China September 27, 2020 100 % Offline EV Charging Solutions Shaanxi Kuaidian Mobility Technology Co., Ltd. Shaanxi, China May 29, 2018 100 % Offline EV Charging Solutions Qingdao Hill Matrix New Energy Technology Co., Ltd. Shandong, China April 26, 2021 100 % Offline EV Charging Solutions Cosmo Light (Beijing) New Energy Technology Co., Ltd. Beijing, China February 22, 2021 100 % Online EV Charging Solutions 2.4. Basis of presentation Immediately prior to and after the Reorganization, the Listing Business was carried out by Newlinks Technology Limited and its subsidiaries. Pursuant to the Reorganization, the Listing Business is controlled by the Company, through direct equity holding. The Company and those companies newly set up during the Reorganization have not been involved in any other business prior to the Reorganization and their operations do not meet the definition of a business. The Reorganization is merely a reorganization of the Listing Business and does not result in any changes in business substance, nor in any management or owners of the Listing Business. Accordingly, the Group resulting from the Reorganization is regarded as a continuation of the Listing Business and the financial information of the companies now comprising the Group is presented using the carrying value of the Listing Business for all periods presented. Intercompany transactions, balances and unrealized gains/losses on transactions between companies now comprising the Group are eliminated on combination. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information of significant accounting policies [Abstract] | |
Summary of significant accounting policies | 3. Summary of significant accounting policies The principal accounting policies applied in the preparation of these combined financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 3.1. Basis of preparation The combined financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards(“IFRSs”) as issued by International Accounting Standards Board (“IASB”). The combined financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial asset at fair value through profit or loss which is carried at fair value. The combined financial statements of the Group were authorized for issue in accordance with a resolution of the directors passed on May 30, 2022. The combined financial statements are prepared on a going concern basis. See Note 3.2 for details. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the combined financial statements are disclosed in Note 5. 3.1.1. New and amendments to the accounting standards adopted and recent accounting pronouncements (a) Amendments to the accounting standards adopted All effective standards, amendments to standards and interpretations, which are mandatory for the financial year beginning on January 1, 2020, are consistently applied to the Group for the years ended December 31, 2020 and 2021. The adoption of these amendments does not have any significant impact on the combined financial statements of the Group. (b) New standards and interpretations not yet adopted Standards, amendments and interpretations that have been issued but not yet effective and not been early adopted by the Group during the years ended December 31, 2020 and 2021 are as follows: Standards and amendments Effective for annual periods IAS 16 (Amendment) ‘Property, plant and equipment – proceeds before intended use’ January 1, 2022 IAS 37 (Amendment) ‘Onerous contracts – cost of fulfilling a contract’ January 1, 2022 IFRS 3 (Amendment) ‘Reference to the conceptual Framework’ January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 IFRS 17 (Amendment) Insurance Contracts January 1, 2023 Standards and amendments Effective for annual periods IAS 1 (Amendment) ‘Classification of liabilities as current or non-current’ January 1, 2023 IAS 1 and IFRS Practice Statement 2 (Amendment) - Disclosure of Accounting Policies January 1, 2023 IAS 8 (Amendment) - Definition of Accounting Estimates January 1, 2023 Amendments to IFRS 4 - Extension of the Temporary Exemption from Applying IFRS 9 January 1, 2023 Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction Tax January 1, 2023 Amendment to IFRS 10 and IAS 28 regarding sales or contribution assets between an investor and its associate or joint venture To be determined The Company anticipates that the application of the above new standard, amendments and annual improvements will have no material impact on the Group’s combined financial statements in the foreseeable future. 3.2. Going concern basis The Group incurred net losses of RMB 77.9 million and RMB 260.5 million for the years ended December 31, 2020 and 2021, respectively. Net cash used in operating activities was RMB 56.9 million, and RMB 219.1 million for the years ended December 31, 2020 and 2021, respectively. The Group assesses its liquidity by its ability to generate cash from operating activities and attract additional capital and/or finance funding. In January 2022, the Group raised funding through issuing convertible redeemable preference shares, with a total cash consideration of US$ 87.3 million (RMB 556.4 million), and the Group expects that its existing cash and cash equivalents will be sufficient to fund its operations and meet all of its obligations as they fall due for at least twelve months from the date of issuance of financial statements. The Group’s ability to continue as a going concern is dependent on management’s ability to successfully execute its business plan, which includes increasing revenues while controlling operating expenses, as well as, generating operational cash flows and continuing to gain support from outside sources of financing. Based on the above considerations, the Group believes that funds from the equity financing will be sufficient to meet the cash requirements to fund planned operations and other commitments for at least the next twelve months. The Group’s combined financial statements have been prepared on a going concern basis, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. 3.3. Subsidiaries and non-controlling interests Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the combined statements of loss and other comprehensive loss, combined statements of financial position, and combined statements of changes in equity, respectively. During the years ended December 31, 2020 and 2021, the net loss attributable to non-controlling interests were nil, respectively. Entities acquired under common control or transactions accounted for in a manner similar to a pooling-of-interests (for example, a reorganization of entities under common control) are accounted under the “book value” accounting, where the Company recognizes the assets acquired and liabilities assumed using the book values of the transferor. When the combined financial statements are issued for a period that includes the date the common control transaction occurred, the Company’s combined financial statements of all prior periods are retrospectively revised to the earliest date presented. 3.4. Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (“CODM”). The CODM, who is responsible for allocating resources and assessing performance of the operating segments and making strategic decisions, has been identified as the Chief Executive Officer of the Group, who reviews the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group as a whole. For the purpose of internal reporting and management’s operation review, the CODM and management personnel do not segregate the Group’s business by product or service lines. Hence, the Group has only one operating segment. In addition, the Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s assets and liabilities are substantially located in the PRC, substantially all revenues are earned and substantially all expenses are incurred in the PRC, no geographical segments are presented. 3.5. Foreign currency translation (a) Functional and presentation currency Items included in the financial information of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of the Company and its overseas subsidiaries is USD. The functional currency of subsidiaries in the Group incorporated in the PRC, is the Renminbi (“RMB”). The Group presents its combined financial statements in RMB, unless otherwise stated. (b) Group companies The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: (i) assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of reporting period ended. (ii) income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and (iii) all resulting currency translation differences are recognised in other comprehensive income or loss. During years ended December 31, 2020 and 2021, there were no translation difference recognized for there was no overseas transactions led to translation differences. 3.6. Property, plant and equipment All property, plant and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses (if any). Historical cost includes expenditures that are directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred. Depreciation is calculated using the straight-line method to allocate their cost amounts, net of their residual values, over their estimated useful lives, as follows: – Electronic equipment 5 years The asset’s residual values and useful lives are reviewed, and adjusted of appropriate at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amount, and are recognized in “Other losses, net” in the combined statement of loss and other comprehensive loss. During the years ended December 31, 2020 and 2021, no such disposal occurred. 3.7. Investments and other financial assets (a) Classification The Group classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through other comprehensive income or through profit or loss), and, • those to be measured at amortised cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income (“OCI”). For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (“FVOCI”). (b) Recognition and derecognition Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset. The Group derecognises a financial asset, if the part being considered for derecognition meets one of the following conditions: (i) the contractual rights to receive the cash flows of the financial asset expire; (ii) the contractual rights to receive the cash flows and substantially all the risks and rewards of ownership of the financial asset have been transferred; or (iii) the Group retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to the eventual recipient in an agreement that meets all the conditions of derecognition of transfer of cash flows (“pass through” requirements) and substantially all the risks and rewards of ownership of the financial asset have been transferred. Where a transfer of a financial asset in its entirety meets the criteria for derecognition, the difference between the two amounts below is recognised in profit or loss or retained earnings: • the carrying amount of the financial asset transferred; and • the sum of the consideration received from the transfer and any cumulative gains or losses that has been recognised directly in equity. (c) Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (“FVPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial asset carried at FVPL are expensed in profit or loss. Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established. Changes in the fair value of financial asset at FVPL are recognized in profit or loss and presented within other losses in the statement of loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. (d) Impairment The Group assesses on a forward-looking basis the expected credit losses (“ECL”) associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. 3.8. Trade receivables and other receivables Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Majority of other receivables and prepayments are from online EV charging solutions services. They are generally due for settlement within one year (or in the normal operating cycle of the business if longer) and therefore all classified as current. Trade receivables and other receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Group holds the trade receivables and other receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. See Note 8 for further information about other receivables and Note 4.1 for a description of the Group’s financial risk. Impairment on trade receivables and other receivables is measured as either 12-month expected credit losses or lifetime expected credit losses, depending on whether there has been a significant increase in credit risk since initial recognition. If a significant increase in credit risk of a deposit or receivable has occurred since initial recognition, the impairment is measured as lifetime expected credit losses. See Note 4.1 for details. 3.9. Cash and cash equivalents For the purpose of presentation in the combined statements of cash flows, cash and cash equivalents includes cash on hand, cash at bank, and deposits held at licensed payment platforms that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, having been within three months of maturity at acquisition. 3.10. Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new shares are shown in equity as a deduction, net of tax, from the proceeds. 3.11. Trade and other payables Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. These amounts are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortized cost using the effective interest method. 3.12. Current and deferred income tax The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. (a) Current income tax The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Company’s subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. (b) Deferred income tax Deferred income tax is recognized, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the combined financial statements. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the statement of financial position date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. (c) Offsetting Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current income tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. (d) Uncertain tax positions In determining the amount of current and deferred income tax, the Group takes into account the impact of uncertain tax positions and whether additional taxes, interest or penalties may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Group to change its judgment regarding the adequacy of existing tax liabilities. Such changes to tax liabilities will impact tax expense in the period that such a determination is made. 3.13. Employee benefits (a) Short-term obligations Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognized in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the statement of financial position. (b) Post-employment obligations The Group has a defined contribution plan in which the Group pays fixed contributions to publicly administered pension insurance plans on a mandatory basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expenses when they are due. (c) Housing funds, medical insurances and other social insurances Employees of the Group in the PRC are entitled to participate in various government-supervised housing funds, medical insurances and other social insurances plan. The Group contributes on a monthly basis to these funds based on certain percentages of the salaries of the employees, subject to certain ceiling. The Group’s liability in respect of these funds is limited to the contributions payable in each year. Contributions to the housing funds, medical insurances and other social insurances are expensed as incurred. (d) Bonus plan The expected cost of bonuses is recognized as a liability when the Group has a present legal or constructive obligation for payment of bonus as a result of services rendered by employees and a reliable estimate of the obligation can be made. Liabilities for bonus plans are expected to be settled within 1 year and are measured at the amounts expected to be paid when they are settled. 3.14. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable for the sales of goods or services in the ordinary course of the Group’s activities. When another party is involved in providing goods or services to a customer, the Group determines whether the nature of its promise is a performance obligation to provide the specified goods or services itself (i.e., the Group is a principal) or to arrange for those goods or services to be provided by the other party (i.e., the Group is an agent). The Group is a principal if it controls the specified goods or services before those goods or services are transferred to a customer. The Group is an agent if its performance obligation is to arrange for the provision of the specified goods or services by another party. In this case, the Group does not control the specified goods or services provided by another party before those goods or services are transferred to the customer. When the Group acts as an agent, it recognises revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified goods or services to be provided by the other party. Revenue is recognized when or as the control of the goods or services is transferred to a customer. Depending on the terms of the contract and the laws that apply to the contract, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if the Group’s performance: i. provides all of the benefits received and consumed simultaneously by the customer; ii. creates and enhances an asset that the customer controls as the Group performs; or iii. does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. If control of the goods or services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services. 3.14.1 The accounting policy for the Group’s principal revenue sources Online EV charging solutions The Group offers effective mobility connectivity services by a platform (mainly includes Kuaidian mobile application, and Kuaidian Weixin mini-program) to connect charging station operators and end-users to facilitate the completion of successful EV charging. Historically, Kuaidian Power Beijing operated Kuaidian . The performance obligations for the Group is to present the charging stations and charging piles on the platform, and provide such information for end-users who visit the platform, they could select charging stations and charging piles on their own. Upon the completion of an EV charging order, the Group recognises the service income charged to operators and end-users. The Group provides services to both charging station operators and end-users according to agreements, and the Group performs its obligations for both parties during one transaction, both charging stations and end-users are regarded as the customers of platform services. The Group has determined that it acts as an agent in the online EV charging solutions services as (i) the Group does not obtain control of the services prior to its transfer to the end-user; (ii) the Group does not direct charging stations to perform the service on the Group’s behalf, (iii) the Group is not primarily responsible for charging services provided to end-users, nor do the Group has inventory risk related to these services, and (iv) the Group facilitates setting the price for charging services, however, charging stations and end-users have the ultimate discretion in accepting the transaction price and this indicator alone does not result in controlling the services provided to end-users. The Group pays to the charging station operators in advance before the delivery of service and records it as prepayment as it could be returned. In some cases, the Group may settle afterwards and the balance owed to operators is recorded as payable. Besides that, the Group also provides other online solutions, such as software as a service (“SaaS”) to charging stations to improve the digitalization and the management of them. The Group offers a membership program (“VIP membership”) to its registered users on the platform. Memberships are offered for a one-month, three-month or twelve-month period and customers pay a fixed non-refundable upfront membership fee. During the membership period, members enjoy benefits including exclusive discount on the charging service fee and exclusive membership coupon issued on a monthly basis that expire at the end of the month. The Group has determined that each membership benefit provided over the membership period is a material right that would need to be accounted for as a performance obligation. Transaction price is allocated to each performance obligation based on its standalone selling price. The Group recognizes revenue when the underlying benefit is redeemed by the customer on a transaction by transaction basis as part of online EV charging solution services or when the benefit is expired. Offline EV charging solutions The Group offers offline services to charging station operators related to their operations, including operation of EV charging station, hardware procurement, electricity procurement. In case the Group leases certain EV charging stations and operates the EV charging stations on its own discretion, the Group has determined that it acts as a principal in the services as the Group is primarily responsible for providing the EV charging service to EV drivers. The Group provides charging services based on orders from its own platform as well as other third-party’s platforms. Also, the Group has full discretion in establishing service fee rates for the charging services to customers. EV charging fees received/receivable by the Group under such instances are recognised as revenue on a gross basis when the service is rendered. The Group considers itself as an agent for the hardware procurement and electricity procurement services as the Group does not control hardware or electricity during the transaction. Therefore revenues from such services are recognized on a net basis. Non-charging solutions and other services The Group provides charging station operators with additional retail services and other amenities and ancillary services. The Group charges commission fees based on the value of the facility and the merchandise supplied to charging station operators. Revenues for such services are recognized when the Group satisfies the performance obligations under the service contracts. 3.14.2. Contract balances When either party to a contract has performed, the Group presents the contract in the statement of financial position as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract liability when the payment is made or a receivable is recorded (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. The contract liabilities balance mainly includes advances from platform users and VIP membership. The balances of contract liability as of December 31, 2020 and 2021 were RMB 8.9 million and RMB 25.1 million respectively. 3.14.3 Incentives The Group offers discounts and promotions to end-users to encourage use of the platform in online EV charging solutions business. The Group records such incentives to end-users as reduction of revenue, to the extent of the revenue collected from the customers, unless the payment is in exchange for a distinct good or service and the payment does not exceed fair value of that good or service. In certain transactions, the incentives offered to the end-users exceed the revenue generated from the same transaction. The excess payment is presented as selling and marketing expense instead of negative revenue, as the payment does not relate to any other contracts (including past contracts or anticipated future contracts) with the customers. If consideration payable to a customer is a payment for a distinct good or service from the customer, the Group accounts for the purchase of the good or service in the same way that it accounts for other purchases from suppliers. If the Group cannot reasonably estimate the fair value of the good or service received from the customer, the Group will account for all of the consideration payable to the customer as a reduction of the transaction price. 3.15. Cost of revenue Cost of revenues mainly consists of electricity costs, depreciation of right-of-use assets, payment processing cost, server cloudy costs and others. 3.16. Selling and marketing expenses Selling and marketing expenses mainly consist of expenses of certain discounts and promotions to end-users, salaries for sales and marketing personnel, and advertising expenses for branding and acquiring end-users for charging services. Advertising costs are expensed when the service is received. In connection with the online EV charging solutions, the Group offers discounts and promotions to end-users to encourage use of the platform. Accordingly, the Group records the cost of these discounts and promotions as a reduction of revenue on a transaction-by-transaction basis at the time the transaction is completed. In certain transactions, the incentives offered to the end-users exceed the revenue generated from the customers for the same transaction. The excess part is presented as an expense instead of negative revenue, as it does not relate to any other contracts (including past contracts or anticipated future contracts) with the customers. 3.17. Administrative expenses Administrative expenses mainly consist of salaries and benefits for management and administrative personnel, rental and related expenses, professional fees and other general corporate expenses. 3.18. Research and development expenses Research and development expenses mainly consist of salaries and benefits as well as relat |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial risk management | 4. Financial risk management 4.1. Financial risk factors The Group’s activities expose it to a variety of financial risks: market risk, liquidity risk and credit risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. Risk management is carried out by the senior management of the Group. (a) Market risk (i) Foreign exchange risk Foreign exchange risk primarily arises from recognised assets and liabilities denominated in a currency other than the functional currency of the Group’s subsidiaries. The Group manages its foreign exchange risk by performing regular reviews of the Group’s net foreign exchange exposures and tries to minimize non-functional currency transactions. The Group operates mainly in the PRC with most of the transactions settled in RMB. Management considers that the business is not exposed to significant foreign exchange risk as there are no significant assets or liabilities of the Group are denominated in the currencies other than the respective functional currencies of the Group’s entities. (b) Liquidity risk The Group intends to maintain sufficient cash and cash equivalents. Due to the dynamic nature of the underlying business, the policy of the Group is to regularly monitor the Group’s liquidity risk and to maintain adequate liquid assets such as cash and cash equivalents, or to retain adequate financing arrangements to meet the Group’s liquidity requirements. The Group expects that its existing cash and cash equivalents will be sufficient to fund its operations and meet all of its obligations as they fall due for at least twelve months from the date of issuance of financial statements. The Group raised funding through convertible redeemable preference shares on January 14 and January 26, 2022, with a total cash consideration of US$ 87.3 million (RMB 556.4 million). See Note 3.2 for details related to going concern basis. The table below analyses the Group’s non-derivative financial liabilities into relevant maturity grouping based on the remaining period at each statement of financial position date to the contractual maturity date. The amounts disclosed in the table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. Less than 1 year Between 1 and 2 Between 2 and 5 Total Carrying amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At December 31, 2020 Trade payables 4,320 — — 4,320 4,320 Other payables and accruals (excluding Employee benefit 10,132 — — 10,132 10,132 Lease liabilities 5,005 4,117 11,321 20,443 17,836 19,457 4,117 11,321 34,895 32,288 At December 31, 2021 Trade payables 16,872 — — 16,872 16,872 Other payables and accruals (excluding Employee benefit 35,774 — — 35,774 35,774 Lease liabilities 8,294 6,205 7,204 21,703 19,633 60,940 6,205 7,204 74,349 72,279 (c) Credit risk Credit risk arises from cash and cash equivalents, trade receivables, prepayments and other receivables. The carrying amount of each class of the above financial asset represents the Group’s maximum exposure to credit risk in relation to the corresponding class of financial asset. Credit risk is managed on group basis. Finance team is responsible for managing and analysing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. The Group assesses the credit quality of its customers and other debtors by taking into account various factors including their financial position, past experience and other factors. Cash and cash equivalents are mainly placed with state-owned financial institutions in the PRC. There has been no recent history of default in relation to these financial institutions. For accounts receivables, an impairment analysis is performed at each financial position date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the financial position date about past events, current conditions and forecasts of future economic conditions. 4.2. Capital management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to enhance shareholders’ value in the long-term. The Group monitors capital (including share capital, additional paid in capital and other reserves) by regularly reviewing the capital structure. As part of this review, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. In January 2022, the Group raised funding through issuing convertible redeemable preference shares, for a total cash consideration of US$ 87.3 million (RMB 556.4 million). Given to the improvement on net debt position, it is considered that the capital risk of the Group is not significant. This section sets out an analysis of net debt and the movements in the debt for each of the period presented. Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Lease liabilities – repayable within one year 3,935 7,067 Lease liabilities – repayable after one year 13,901 12,566 Lease liabilities 17,836 19,633 Cash and cash Lease liabilities Total (as restated) (as restated) (as restated) RMB’000 RMB’000 RMB’000 Net debt as at January 1, 2020 2,124 ( 880 ) 1,244 Cash flows 1,541 — 1,541 Lease liabilities — ( 16,956 ) ( 16,956 ) Net debt as at December 31, 2020 3,665 ( 17,836 ) ( 14,171 ) Cash flows 4,824 2,074 6,898 Lease liabilities — ( 3,871 ) ( 3,871 ) Net debt as at December 31, 2021 8,489 ( 19,633 ) ( 11,144 ) 4.3. Fair value estimation The table below analyses the Group’s financial instruments carried at fair value as of each statement of financial position date, by level of the inputs to valuation techniques used to measure fair value. Such inputs are categorized into three levels within a fair value hierarchy as follows: (1) Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1); (2) Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2); and (3) Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). The following table presents the Group’s financial instruments that are measured at fair value at each statement of financial position date: Level 3 Total RMB’000 RMB’000 Recurring fair value measurements At December 31, 2021 Financial assets at fair value through profit or loss 5,000 5,000 (a) Financial instruments in Level 3 If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. Specific valuation techniques used to value financial instruments include: • The use of quoted market prices or investor quotes for similar instruments; and • The discounted cash flow model and unobservable inputs mainly including assumptions of expected future cash flows and discount rate; and • The latest round financing, i.e. the prior transaction price or the third-party pricing information; and • A combination of observable and unobservable inputs, including risk-free rate, expected volatility, discount rate for lack of marketability, market multiples, etc. Level 3 instrument of the Group’s assets include long-term investments measured at fair value through profit or loss (mainly investments in ordinary shares in unlisted companies with no significant influence) measured at fair value through profit or loss. As the investment is not traded in an active market, its fair value has been determined by using applicable valuation technique, such as market approach. Details of movements and significant observable inputs used in the level 3 financial instruments are set out in Note 11. The following table summarizes the quantitative information about the significant unobservable inputs used in recurring level 3 fair value measurements. Fair values as of Change of inputs at 2020 2021 Description RMB’000 RMB’000 Unobservable 2020 2021 Relationship of unobservable inputs to fair value Investments in unlisted company — 5,000 Expected volatility — 51 % The higher the expected Discount for lack — 19 % The higher the DLOM, The carrying amounts of the Group’s financial asset not carrying at fair values, including cash and cash equivalents, trade receivables, other receivables and prepayments, and the Group’s financial liabilities not carrying at fair values, including trade payables, other payables and accruals, approximate their fair values due to their short maturities or the interest rates are close to the market interest rates. |
Critical accounting estimates a
Critical accounting estimates and judgements | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of accounting judgements and estimates [Abstract] | |
Critical accounting estimates and judgements | 5. Critical accounting estimates and judgements The preparation of financial statements requires the use of accounting estimates which will seldom equal the actual results. Management needs to exercise judgement in applying the Group’s accounting policies. Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (a) Revenue recognition Determining whether the Group is acting as a principal or as an agent when third-party is involved in the provision of certain services to its customers requires judgement and consideration of all relevant facts and circumstances. In evaluation of the Group’s role as a principal or agent, the Group considers factors to determine whether the Group controls the specified goods or service before it is transferred to the customer include, but are not limited to the following: (a) is primarily responsible for fulfilling the contract, (b) is subject to inventory risk, and (c) has discretion in establishing prices. Refer to Note 3.14 for details. (b) Estimation of useful lives of property, plant and equipment The Group determines the useful lives of property, plant and equipment on an annual basis. This requires an estimation of the number of years that future economic benefits can be generated by the property, plant and equipment taking into account the expected changes in the market demand for the products or services output from the property, plant and equipment and the expected actions by competitors or potential competitors. (c) Estimation of recoverability of uncollected input VAT receipts The Group determines recoverability of uncollected input VAT receipts (which is recorded in other receivables) by considering the historic collection experience of input VAT receipts from the operators and other factors that may affect the operators’ capability to issue input VAT receipts. The Group recognizes provision of uncollected input VAT amount as cost of revenue, in cases such as there is indication the operator to terminate cooperation or lose capability to issue input VAT receipts. (d) Estimation of IFRIC 23 provisions Where the amount of tax payable or recoverable is uncertain, whether due to the relevant tax authority challenge or due to uncertainty regarding the acceptability of a particular tax treatment under tax law, judgment is required to assess the probability that the uncertain tax treatment will be accepted by the tax authority. In accordance with IFRIC 23, if it is not probable that the uncertain tax treatment will be accepted by the tax authority, the Group shall reflect the effects of uncertainty in determining the related taxable profit.. Uncertain tax provisions include any related penalties, if applicable under the tax law. (e) Deferred tax assets In determining the recognition of deferred tax assets, the Group considers the realizability of the deferred tax asset on whether sufficient future profits or taxable temporary differences will be available in the future. In cases where the actual future profits generated are more or less than expected, a material recognition or reversal of deferred tax assets may arise, which would be recognized in the combined statement of loss for the period in which such a recognition or reversal takes place. (f) Measurement of ECL A number of significant judgements are required in applying the accounting requirements for measuring ECL, such as: • Determining criteria for significant increase in credit risk; • Selecting appropriate models and assumptions for the measurement of ECL; • Establishing the relative probability weightings of forward-looking scenarios. Significant increase in credit risk ECL of different financial assets is measured by the Group on either a 12-month or lifetime basis depending on whether they are in Stage 1, 2 or 3. At each financial position date, the ECL of financial instruments at different stages are measured respectively. 12-month ECL is recognised for financial instruments in Stage 1 which don’t have a significant increase in credit risk since initial recognition; lifetime ECL is recognised for financial instruments in Stage 2 which have had a significant increase in credit risk since initial recognition but are not deemed to be credit-impaired; and lifetime ECL is recognised for financial instruments in Stage 3 that are credit-impaired. A financial asset moves to Stage 2 when its credit risk has increased significantly since initial recognition, and it comes to Stage 3 when it is credit-impaired (but it is not purchased original credit impaired). In assessing whether the credit risk of a financial asset has significantly increased, the Group takes into account qualitative and quantitative reasonable and supportable forward-looking information with significant judgements involved. There is no movement of financial assets among Stage 1, 2 and 3 for the years ended December 31, 2020 and 2021. Impairment assessment under ECL for accounts receivable and other receivables. The Group uses a provision matrix to calculate ECL for the accounts receivable and other receivables. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the financial position date about past events, current conditions and forecasts of future economic conditions. At every financial position date, the historical observed default rates are reassessed and changes in the forward-looking information is considered. In addition, accounts receivable with significant balances and credit impaired are assessed for ECL individually. The provision of ECL is sensitive to changes in estimates. The information about the ECL is disclosed in Note 4.1(c). (i) Inputs, assumptions and estimation techniques ECL is the discounted product of expected future cash flows by using the Probability of Default (“PD”), Loss Given Default (“LGD”) and Exposure at Default (“EAD”), of which PD and LGD are estimates based on significant management judgement. (ii) Forward-looking information In measuring ECL in accordance with IFRS 9, it should consider forward-looking information. The calculation of ECL incorporates forward-looking information through the use of publicly available economic data and forecasts based on assumptions and management judgement to reflect the qualitative factors and through the use of multiple probability weighted scenarios. (e) Determining the lease term The lease liability is initially recognised at the present value of the lease payments payable over the lease term. In determining the lease term at the commencement date for leases that include renewal options exercisable by the Group, the Group evaluates the likelihood of exercising the renewal options taking into account all relevant facts and circumstances that create an economic incentive for the Group to exercise the option, including favorable terms, leasehold improvements undertaken and the importance of that underlying asset to the Group’s operation. The lease term is reassessed when there is a significant event or significant change in circumstance that is within the Group’s control. Any increase or decrease in the lease term would affect the amount of lease liabilities and right-of-use assets recognised in future years. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2021 | |
Cash and cash equivalents [abstract] | |
Cash and cash equivalents | 6. Cash and cash equivalents As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Cash at bank 1,210 3,734 Deposits held at licensed payment platforms 2,455 4,755 Total 3,665 8,489 As at December 31, 2020 and 2021, the Group’s cash and cash equivalents were denominated in RMB. |
Trade receivables
Trade receivables | 12 Months Ended |
Dec. 31, 2021 | |
Trade and other receivables [abstract] | |
Trade receivables | 7. Trade receivables As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Trade receivables 4,824 40,926 Provision on impairment — ( 2,470 ) Total 4,824 38,456 The following is an aged analysis of trade receivables presented based on the invoice date at the end of each reporting period, which approximated the respective revenue recognition dates. As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 0 – 90 days 4,704 16,472 91 – 180 days 120 16,292 181 – 365 days — 5,473 1 – 2 years — 2,689 Total 4,824 40,926 The Group uses a provision matrix to calculate ECL for the accounts receivable that result from transactions within the scope of IFRS 15. The provision rates are based on debtor’s aging as groupings of various debtors that have similar loss patterns. The provision matrix is based on the Group’s historical default rates taking into consideration forward-looking information that is reasonable and supportable and available without undue costs and effort. The provision on impairment was RMB 2.5 million and nil , respectively, in 2021 and 2020. |
Prepayments, other receivables
Prepayments, other receivables and other assets | 12 Months Ended |
Dec. 31, 2021 | |
Prepayments and accrued income other than contract assets [abstract] | |
Prepayments, other receivables and other assets | 8. Prepayments, other receivables and other assets The detail information of prepayments, other receivables and other assets for the years ended December 31, 2020 and 2021 is as below: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Value-added tax deductable 3,302 32,367 Value-added tax recoverable 23,947 31,964 Prepayments to charging stations 19,906 31,791 Prepayment for rental, facility and utilities 92 5,615 Prepayments for charging piles procurement 1,951 5,106 Prepayments for miscellaneous 617 2,146 Deposits 300 1,462 Receivables from related parties — 556 Others 1,096 672 Credit loss allowance ( 1,352 ) ( 5,846 ) Total 49,859 105,833 |
Financial instruments by catego
Financial instruments by category | 12 Months Ended |
Dec. 31, 2021 | |
Financial Instruments by Category [Abstract] | |
Financial instruments by category | 9. Financial instruments by category The detail information of financial instruments by category during the years ended December 31, 2020 and 2021 is as below: As of December 31, 2020 2021 RMB’000 RMB’000 Assets as per statement of financial position Financial asset measured at fair value through profit or loss: —Financial asset at fair value through profit or loss — 5,000 Financial asset measured at amortized costs: Financial asset —Trade receivables 4,824 38,456 —Other receivables, prepayments and deposits (excluding prepayments to suppliers and prepaid expenses) 24,126 29,493 —Cash and cash equivalents 3,665 8,489 Total 32,615 81,438 As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Liabilities as per statement of financial position Financial liabilities measured at amortized cost: — Trade payables 4,320 16,872 — Other payables and accruals (excluding employee benefit payables and taxes payables) 10,132 35,774 — Lease liabilities 17,836 19,633 Total 32,288 72,279 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Leases [Abstract] | |
Leases | 10. Leases The carrying amounts of right-of-use assets are as below: Office Charging Total (as restated) (as restated) (as restated) RMB’000 RMB’000 RMB’000 Year ended December 31, 2020 Opening net book amount 3,864 — 3,864 Additions 17,986 — 17,986 Depreciation charge ( 3,537 ) — ( 3,537 ) Closing net book amount 18,313 — 18,313 As of December 31, 2020 Cost 24,351 — 24,351 Accumulated depreciation ( 6,038 ) — ( 6,038 ) Net book value 18,313 — 18,313 Year ended December 31, 2021 Opening net book amount 18,313 — 18,313 Additions — 7,968 7,968 Depreciation charge ( 4,523 ) ( 1,992 ) ( 6,515 ) Closing net book amount 13,790 5,976 19,766 As of December 31, 2021 Cost 24,351 7,968 32,319 Accumulated depreciation ( 10,561 ) ( 1,992 ) ( 12,553 ) Net book value 13,790 5,976 19,766 Additions to the right-of-use assets for the years ended December 31, 2020 and 2021 were RMB 18.0 million, and RMB 8.0 million, respectively. (a) Items recognized in the combined statements of financial position As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Right-of-use assets Office buildings 18,313 13,790 Charging stations — 5,976 Total 18,313 19,766 As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Lease liabilities Current 3,935 7,067 Non-current 13,901 12,566 Total 17,836 19,633 (b) Items recognized in the combined statements of loss and other comprehensive loss The combined statements of loss and other comprehensive loss shows the following amounts relating to leases: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Depreciation charge of right-of-use assets Office buildings 3,537 4,523 Charging stations — 1,992 Interest expense (included in finance costs) 300 1,097 Expense relating to short-term leases not included in lease liabilities (included in cost of revenues, selling and marketing expenses, administrative expenses and research and development expenses) — 3,837 Total 3,837 11,449 The total cash outflows in financing activities for leases during the years ended December 31, 2020 and 2021 are as below: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Principal elements of lease payments — 1,881 Related interest paid — 193 Total — 2,074 The weighted average incremental borrowing rate applied to the lease liabilities was 6.0 % per annum during the years ended December 31, 2020 and 2021. |
Financial asset at fair value t
Financial asset at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through profit or loss [abstract] | |
Financial asset at fair value through profit or loss | 11. Financial asset at fair value through profit or loss As of December 31, 2020 2021 RMB’000 RMB’000 Investment (Note i) — 5,000 As of December 31, 2021, all of financial investments at fair value through profit or loss was denominated in RMB. (i) Investment The Group invested in an investee company in the form of ordinary shares without significant influence, which is managed on fair value. For the major assumptions used in the valuation for the investment, please refer to Note 4.3. As of December 31, 2020 2021 RMB’000 RMB’000 At the beginning of the year — — Additions (a) — 5,000 At the end of the year — 5,000 During the year ended December 31, 2021, the Group invested in a company engaging in EV charging hardware and technology industry for RMB 5.0 million, and there is no fair value change within the year. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment | 12. Property, plant and equipment Electronic (as restated) RMB’000 At January 1, 2021 Cost — Accumulated depreciation — Net carrying amount — At January 1, 2021, net of accumulated depreciation — Additions 606 Depreciation provided during the year ( 58 ) At December 31, 2021, net of accumulated depreciation 548 At December 31, 2021 Cost 606 Accumulated depreciation ( 58 ) Net carrying amount 548 |
Other payables and accruals
Other payables and accruals | 12 Months Ended |
Dec. 31, 2021 | |
Trade and other payables [abstract] | |
Other payables and accruals | 13. Other payables and accruals As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Other taxes payable (Note i) 24,415 58,180 Advances from platform users 8,506 18,401 Employee benefit payables 3,926 11,403 Accrued expenses 1,038 10,508 Income tax payable 1,474 6,791 Contract liabilities (Note ii) 357 5,365 Deferred income (Note iii) — 1,345 Others 231 155 Total 39,947 112,148 Notes: (i) Other taxes payable primarily represent value-added tax ("VAT") and related surcharges, and PRC individual income tax of employees withheld by the Group. (ii) Details of contract liabilities are as follows: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 VIP membership and coupon sales 75 4,961 Customer advances in charging piles sales 201 50 Others 81 354 Total 357 5,365 Contract liabilities include balances of customer advances collected from charging piles sales, VIP membership and coupon sales . The increase of contract liabilities in 2021 was mainly due to the increase of balance of unutilised VIP membership and coupons which are inline with transaction volume through the platform. (iii) The deferred income is unconsumed carbon credits with a validity term of 6 months since granted. |
Combined capital and additional
Combined capital and additional paid in capital | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of classes of share capital [abstract] | |
Combined capital and additional paid in capital | 14. Combined capital and additional paid in capital Number of Nominal value Combined Additional Total USD RMB RMB’000 RMB’000 At January 1, 2020 (note i) 1,000 — * 1 79,604 79,604 Issuance of ordinary shares (note ii) 4,000 — * 3 — — Contribution of a shareholder (note iii) — — — 68,382 68,382 At December 31, 2020 5,000 1 3 147,986 147,986 At January 1, 2021 5,000 1 3 147,986 147,986 Contribution of a shareholder (note iii) — — — 275,343 275,343 At December 31, 2021 5,000 1 3 423,329 423,329 All issued shares are fully paid as at December 31, 2020 and 2021. * Representing amount less than US$ 1.00 . ** Representing amount less than RMB 1,000 . Notes: On January 13, 2022, pursuant to shareholders’ resolution, each existing issued and unissued share of US$ 0.001 each in the share capital of the Company were subdivided into 10 shares of US$ 0.0001 each (“Share Subdivision”). (i) In July 2019, 100 ordinary shares ( 1,000 ordinary shares in reflection of Share Subdivision) of the Company were allotted and issued to shareholders. (ii) On November 19, 2020, 400 ordinary shares ( 4,000 ordinary shares in reflection of Share Subdivision) of the Company were allotted and issued to Newlink Technology Limited. (iii) A shareholder offered financial support during years ended December 31, 2020 and 2021. The Company’s affairs are governed by its amended and restated memorandum and articles of association and the Companies Law of the Cayman Islands. Issue of Shares Issue. Subject to the provisions, if any, of the amended and restated memorandum and articles of association and directions given by any ordinary resolution and the rights attaching to any class of existing shares, the directors may issue, allot, grant options over or otherwise dispose of shares (including any fractions of shares) and other securities at such times, to such persons, for such consideration and on such terms as the directors may determine. Preferred Shares. Shares and other securities of the Company may be issued by the directors with such preferred, deferred or other special rights, restrictions or privileges whether in regard to voting, distributions, a return of capital, or otherwise and in such classes and series, if any, as the directors may determine. Ordinary Shares. Where the directors issue a share having no preferred, deferred, redemption or other special rights, it shall be issued as an ordinary share and entitle the holder, subject to any other share having any preferred, deferred, redemption or other special rights, to: (a) receive notice of, attend and vote at any general meeting of the Company and on any ordinary resolution or special resolution; (b) an equal share in any dividend or other distribution paid by the Company; and (c) an equal share in the distribution of the surplus assets of the Company. |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2021 | |
Revenue [abstract] | |
Revenues | Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 5,455 17,985 Net Revenues from Offline EV Charging Solutions 565 15,102 Net Revenues from Non-Charging Solutions and Other Services 143 366 Net Revenues 6,163 33,453 |
Other gains, net
Other gains, net | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Other Gains Losses Net [Abstract] | |
Other gains, net | 16. Other gains, net Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Non-operating income 319 138 Non-operating expenses 0 0 Total 319 138 |
Operating costs by nature
Operating costs by nature | 12 Months Ended |
Dec. 31, 2021 | |
Expenses by nature [abstract] | |
Operating costs by nature | 17. Operating costs by nature Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Incentives through network 23,338 105,939 Employee benefit expenses 40,402 112,102 Promotion and advertising 5,132 16,675 Offline service costs — 7,965 Traveling, entertainment and general office expenses 3,106 7,640 Auditor’s remuneration — 7,066 Depreciation of right-of-use assets 3,537 6,515 Bandwidth expenses and server custody costs 2,760 4,331 Rental, facility and utilities 669 4,277 Payment processing cost 1,695 3,893 Online service costs 6 1,250 Others 1,960 9,985 Total operating costs 82,605 287,638 |
Finance costs
Finance costs | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Finance Income Expense [Abstract] | |
Finance costs | 18. Finance costs Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Interest expense from lease liabilities ( 300 ) ( 1,097 ) Finance costs ( 300 ) ( 1,097 ) |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2021 | |
Tax Effects Of [Abstract] | |
Taxation | 19. Taxation (a) Income tax expenses Income tax expense is recognized based on management’s best knowledge of the income tax rates expected for the financial year. (i) Cayman Islands The Company is incorporated as an exempted company with limited liability under the Companies Act of the Cayman Islands and is not subject to tax on income or capital gains. Additionally, the Cayman Islands do not impose a withholding tax on payments of dividends to shareholders. The Cayman Islands are not party to any double tax treaties that are applicable to any payments made by or to the Company. (ii) Hong Kong Income Tax Entities incorporated in Hong Kong are subject to Hong Kong profits tax at a rate of 16.5 % for taxable income earned in Hong Kong before April 1, 2018. Starting from the financial year commencing on April 1, 2018, the two-tiered profits tax regime took effect, under which the tax rate is 8.25 % for assessable profits on the first HK$ 2 million and 16.5 % for any assessable profits in excess of HK$ 2 million. No provision for Hong Kong profits tax was made as we had no estimated assessable profit that was subject to Hong Kong profits tax during the years ended December 31, 2020 and 2021. (iii) PRC Enterprise Income Tax (“EIT”) The income tax provision of the Group in respect of its operations in PRC was subject to statutory tax rate of 25 % on the assessable profits for the years ended December 31, 2020 and 2021 based on the existing legislation, interpretation and practices in respect thereof. (iv) Withholding tax in mainland China (“WHT”) According to the New Corporate Income Tax Law (“New EIT Law”), beginning January 1, 2008, distribution of profits earned by companies in mainland China since January 1, 2008 to foreign investors is subject to withholding tax of 5 % or 10 %, depending on the country of incorporation of the foreign investor, upon the distribution of profits to overseas-incorporated immediate holding companies. The Group does not have any plan in the foreseeable future to require its subsidiaries in mainland China to distribute their retained earnings and intends to retain them to operate and expand its business in mainland China. Accordingly, no deferred income tax liability related to WHT on undistributed earnings was accrued as of the end of each reporting period. The income tax expenses of the Group during the years ended December 31, 2020 and 2021 are analysed as follows: Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Current income tax 1,474 5,318 Deferred income tax — — Total income tax expense 1,474 5,318 The tax on the Group’s loss before income tax differs from the theoretical amount that would arise using the statutory tax rate of 25 % in mainland China, being the tax rate applicable to the majority of combined entities as follows: Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Loss before income tax ( 76,423 ) ( 255,144 ) Tax calculated at statutory income tax rate of 25% in mainland China ( 19,106 ) ( 63,786 ) Tax effects of: — Expenses not deductible for income tax purposes 469 1,069 — Tax losses for which no deferred tax assets were recognized 20,111 68,035 — Utilization of previously unrecognized tax losses — — 1,474 5,318 (b) Deferred income tax The Group only recognizes deferred income tax assets for credit loss allowances on financial asset if it is probable that future taxable amounts will be available to utilize those credit loss allowances. Management will continue to assess the recognition of deferred income tax assets in future reporting periods. As at December 31, 2020 and 2021, the Group did not recognize deferred income tax assets from tax losses. The key factors which have influenced management in arriving at this evaluation are the fact that the Group has not yet a history of making profits and product development remains at an early stage. The tax losses carried forward by the Group and their respective expiry dates are as follows: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 2023 34 34 2024 26,561 26,561 2025 70,757 67,172 2026 — 110,045 Total unrecorded tax losses carry forwards 97,352 203,812 As of December 31, 2021, the unrecorded tax losses carried forward increased to RMB 203.8 million (2020: RMB 97.4 million). |
Loss per share
Loss per share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [abstract] | |
Loss per share | 20. Loss per share (a) Basic loss per share Basic loss per share for the years ended December 31, 2020 and 2021 are calculated by dividing the loss attributable to the Company’s equity holders by the weighted average number of ordinary shares in issue during the year. In reflection of the Share Subdivision mentioned in Note 14, the weighted average number of ordinary shares for the purpose of basic and diluted earnings per share for the years ended December 31, 2020 and 2021 has been retrospectively adjusted. Year ended December 31, 2020 2021 (as restated) (as restated) Net loss attributable to equity holders of the Company (RMB’000) 77,897 260,462 Weighted average number of ordinary shares in issue 1,470 141,973 Basic loss per share (RMB per share) 52,991 1,835 (b) Diluted loss per share Diluted loss per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. As of December 31, 2021, there are no diluted shares or potential diluted shares. |
Cash flow information
Cash flow information | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Cash used in operation Abstract [Abstract] | |
Cash flow information | 21. Cash flow information (a) Cash used in operation Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Net Loss before income tax ( 76,423 ) ( 255,144 ) Adjustments for: Depreciation of property, plant and equipment (Note 12) — 58 Depreciation of right-of-use assets (Note 10) 3,537 6,515 Credit loss allowances on financial asset 135 3,205 Non-cash employee benefits expense—share based payments — 10,788 Interest expense (Note 18) 300 1,097 Increase in trade receivables ( 4,824 ) ( 33,632 ) Increase in prepayments, other receivables and other assets ( 14,449 ) ( 59,178 ) Increase in trade and other payables 34,508 101,097 Increase in contract liabilities 276 6,080 Cash used in operations ( 56,940 ) ( 219,114 ) |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of commitments [Abstract] | |
Commitments | 22. Commitments (a) Operating lease commitments Operating lease commitments-as lessee The future aggregate minimum lease payments under operating leases exempted to be recognized as lease liabilities are as follows: Year ended December 31, 2020 2021 RMB’000 RMB’000 Within one year — 5,645 Total — 5,645 |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of contingent liabilities [abstract] | |
Contingencies | 23. Contingencies There was no significant contingencies as at December 31, 2020 and 2021. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Related party transactions | 24. Related party transactions Related parties include members of Board of Directors of the Company and the executive management of the Group. The following transactions were carried out with related parties: (a) Contribution from shareholder Immediately prior to and after the Reorganization, the Listing Business was carried out by Newlink and its consolidated entities. Newlink and its consolidated entities provided financial support for the Listing Business. Pursuant to the Reorganization, NaaS is regarded as continuing operator of the Listing Business. The financial support in historical periods due to Newlink and its consolidated entities was waived as contribution from shareholder. The amount during the years ended December 31, 2020 and 2021 was RMB 68.7 million and RMB 264.6 million, respectively. Besides, Newlink charged the Group for services performed by the middle and back office of Newlink. Before the accomplishment of the Restructuring, Newlink charged the Group for free. (b) Options from shareholder EV charging service business was historically part of Newlink’s businesses and were conducted by Newlink and its consolidated entities at the time. Prior to the completion of the Restructuring, Newlink granted options to certain of its employees associated with the EV Charging Business, which employees were subsequently transferred to the Group as part of the Restructuring. The allocation of share-based compensation in 2021 was approximately RMB 10.7 million and credited to additional paid in capital accordingly. (c) Key management personal compensation The following table sets forth information regarding our directors and executive officers for the years ended December 31, 2020 and 2021. Year ended December 31, 2020 2021 RMB’000 RMB’000 Short-term employee benefits 1,056 2,692 1,056 2,692 |
Event occurring after the repor
Event occurring after the reporting period | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Event occurring after the reporting period | 25. Event occurring after the reporting period (a) Option arrangement On January 13, 2022, the 2022 Share Incentive Plan ( “Dada Auto Incentive Plan”) was approved by board of directors of the Company. According to the Plan, 6,818,182 ordinary shares of the Company are reserved to be issued to officers, directors, employees of the Company or other qualified personnel. (b) Raise funding through convertible redeemable preference shares On January 14 and January 26, 2022, the Company entered into share subscription agreements with 6 shareholders (“Purchasers”), according to which the Company issued 9,923,135 Series A convertible redeemable preference shares (“preferred shares”) with an issuance price of US$ 8.8 per share, for a total cash consideration of US$ 87.3 million (RMB 556.4 million). The issuance costs for Series A preferred shares were RMB 8.6 million. These Purchasers are entitled to redemption rights, conversion rights and liquidation preferential rights and other shareholder rights. The preferred shares shall be redeemable upon events including, but not limited to, that the Company has not achieved a qualified IPO on or before September 30, 2022. (c) Merger Transaction On June 10, 2022, the Company and RISE Education Cayman Ltd (“RISE”) completed the merger and other related transactions (the “Merger Transactions”) , as a result of which the Company became a wholly-owned subsidiary of RISE and RISE assumed and began conducting the principal business of the Company. The name of RISE was changed from “RISE Education Cayman Ltd” to “NaaS Technology Inc.” and its ticker was changed from “REDU” to “NAAS.” Pursuant to the Merger Agreement, RISE shall adopt and assume the Dada Auto Incentive Plan on June 10, 2022. (d) Data Striping In early 2022, the Group entered into a series of transactions to restructure its organization and its EV charging service business. As part of the restructuring, the ownership of mobile application and mini-program (the “Platforms”) which connect EV drivers with charging stations and charging piles, as well as the rights to access and use certain data generated by or in the possession of the Platforms, have been transferred to a third party service provider. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information of significant accounting policies [Abstract] | |
New and amendments to the accounting standards adopted and recent accounting pronouncements | (b) New standards and interpretations not yet adopted Standards, amendments and interpretations that have been issued but not yet effective and not been early adopted by the Group during the years ended December 31, 2020 and 2021 are as follows: Standards and amendments Effective for annual periods IAS 16 (Amendment) ‘Property, plant and equipment – proceeds before intended use’ January 1, 2022 IAS 37 (Amendment) ‘Onerous contracts – cost of fulfilling a contract’ January 1, 2022 IFRS 3 (Amendment) ‘Reference to the conceptual Framework’ January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 IFRS 17 (Amendment) Insurance Contracts January 1, 2023 Standards and amendments Effective for annual periods IAS 1 (Amendment) ‘Classification of liabilities as current or non-current’ January 1, 2023 IAS 1 and IFRS Practice Statement 2 (Amendment) - Disclosure of Accounting Policies January 1, 2023 IAS 8 (Amendment) - Definition of Accounting Estimates January 1, 2023 Amendments to IFRS 4 - Extension of the Temporary Exemption from Applying IFRS 9 January 1, 2023 Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction Tax January 1, 2023 Amendment to IFRS 10 and IAS 28 regarding sales or contribution assets between an investor and its associate or joint venture To be determined The Company anticipates that the application of the above new standard, amendments and annual improvements will have no material impact on the Group’s combined financial statements in the foreseeable future. |
Going concern basis | 3.2. Going concern basis The Group incurred net losses of RMB 77.9 million and RMB 260.5 million for the years ended December 31, 2020 and 2021, respectively. Net cash used in operating activities was RMB 56.9 million, and RMB 219.1 million for the years ended December 31, 2020 and 2021, respectively. The Group assesses its liquidity by its ability to generate cash from operating activities and attract additional capital and/or finance funding. In January 2022, the Group raised funding through issuing convertible redeemable preference shares, with a total cash consideration of US$ 87.3 million (RMB 556.4 million), and the Group expects that its existing cash and cash equivalents will be sufficient to fund its operations and meet all of its obligations as they fall due for at least twelve months from the date of issuance of financial statements. The Group’s ability to continue as a going concern is dependent on management’s ability to successfully execute its business plan, which includes increasing revenues while controlling operating expenses, as well as, generating operational cash flows and continuing to gain support from outside sources of financing. Based on the above considerations, the Group believes that funds from the equity financing will be sufficient to meet the cash requirements to fund planned operations and other commitments for at least the next twelve months. The Group’s combined financial statements have been prepared on a going concern basis, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. |
Subsidiaries and non-controlling interests | 3.3. Subsidiaries and non-controlling interests Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the combined statements of loss and other comprehensive loss, combined statements of financial position, and combined statements of changes in equity, respectively. During the years ended December 31, 2020 and 2021, the net loss attributable to non-controlling interests were nil, respectively. Entities acquired under common control or transactions accounted for in a manner similar to a pooling-of-interests (for example, a reorganization of entities under common control) are accounted under the “book value” accounting, where the Company recognizes the assets acquired and liabilities assumed using the book values of the transferor. When the combined financial statements are issued for a period that includes the date the common control transaction occurred, the Company’s combined financial statements of all prior periods are retrospectively revised to the earliest date presented. |
Segment reporting | 3.4. Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (“CODM”). The CODM, who is responsible for allocating resources and assessing performance of the operating segments and making strategic decisions, has been identified as the Chief Executive Officer of the Group, who reviews the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group as a whole. For the purpose of internal reporting and management’s operation review, the CODM and management personnel do not segregate the Group’s business by product or service lines. Hence, the Group has only one operating segment. In addition, the Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s assets and liabilities are substantially located in the PRC, substantially all revenues are earned and substantially all expenses are incurred in the PRC, no geographical segments are presented. |
Foreign currency translation | 3.5. Foreign currency translation (a) Functional and presentation currency Items included in the financial information of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of the Company and its overseas subsidiaries is USD. The functional currency of subsidiaries in the Group incorporated in the PRC, is the Renminbi (“RMB”). The Group presents its combined financial statements in RMB, unless otherwise stated. (b) Group companies The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: (i) assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of reporting period ended. (ii) income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and (iii) all resulting currency translation differences are recognised in other comprehensive income or loss. During years ended December 31, 2020 and 2021, there were no translation difference recognized for there was no overseas transactions led to translation differences. |
Property, plant and equipment | 3.6. Property, plant and equipment All property, plant and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses (if any). Historical cost includes expenditures that are directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred. Depreciation is calculated using the straight-line method to allocate their cost amounts, net of their residual values, over their estimated useful lives, as follows: – Electronic equipment 5 years The asset’s residual values and useful lives are reviewed, and adjusted of appropriate at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amount, and are recognized in “Other losses, net” in the combined statement of loss and other comprehensive loss. During the years ended December 31, 2020 and 2021, no such disposal occurred. |
Investments and other financial assets | 3.7. Investments and other financial assets (a) Classification The Group classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through other comprehensive income or through profit or loss), and, • those to be measured at amortised cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income (“OCI”). For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (“FVOCI”). (b) Recognition and derecognition Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset. The Group derecognises a financial asset, if the part being considered for derecognition meets one of the following conditions: (i) the contractual rights to receive the cash flows of the financial asset expire; (ii) the contractual rights to receive the cash flows and substantially all the risks and rewards of ownership of the financial asset have been transferred; or (iii) the Group retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to the eventual recipient in an agreement that meets all the conditions of derecognition of transfer of cash flows (“pass through” requirements) and substantially all the risks and rewards of ownership of the financial asset have been transferred. Where a transfer of a financial asset in its entirety meets the criteria for derecognition, the difference between the two amounts below is recognised in profit or loss or retained earnings: • the carrying amount of the financial asset transferred; and • the sum of the consideration received from the transfer and any cumulative gains or losses that has been recognised directly in equity. (c) Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (“FVPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial asset carried at FVPL are expensed in profit or loss. Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established. Changes in the fair value of financial asset at FVPL are recognized in profit or loss and presented within other losses in the statement of loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. (d) Impairment The Group assesses on a forward-looking basis the expected credit losses (“ECL”) associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. |
Trade receivables and other receivables | 3.8. Trade receivables and other receivables Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Majority of other receivables and prepayments are from online EV charging solutions services. They are generally due for settlement within one year (or in the normal operating cycle of the business if longer) and therefore all classified as current. Trade receivables and other receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Group holds the trade receivables and other receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. See Note 8 for further information about other receivables and Note 4.1 for a description of the Group’s financial risk. Impairment on trade receivables and other receivables is measured as either 12-month expected credit losses or lifetime expected credit losses, depending on whether there has been a significant increase in credit risk since initial recognition. If a significant increase in credit risk of a deposit or receivable has occurred since initial recognition, the impairment is measured as lifetime expected credit losses. See Note 4.1 for details. |
Cash and cash equivalents | 3.9. Cash and cash equivalents For the purpose of presentation in the combined statements of cash flows, cash and cash equivalents includes cash on hand, cash at bank, and deposits held at licensed payment platforms that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, having been within three months of maturity at acquisition. |
Share capital | 3.10. Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new shares are shown in equity as a deduction, net of tax, from the proceeds. |
Trade and other payables | 3.11. Trade and other payables Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. These amounts are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortized cost using the effective interest method. |
Current and deferred income tax | 3.12. Current and deferred income tax The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. (a) Current income tax The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Company’s subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. (b) Deferred income tax Deferred income tax is recognized, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the combined financial statements. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the statement of financial position date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. (c) Offsetting Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current income tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. (d) Uncertain tax positions In determining the amount of current and deferred income tax, the Group takes into account the impact of uncertain tax positions and whether additional taxes, interest or penalties may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Group to change its judgment regarding the adequacy of existing tax liabilities. Such changes to tax liabilities will impact tax expense in the period that such a determination is made. |
Employee benefits | 3.13. Employee benefits (a) Short-term obligations Liabilities for wages and salaries, including non-monetary benefits and accumulating sick leave that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognized in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the statement of financial position. (b) Post-employment obligations The Group has a defined contribution plan in which the Group pays fixed contributions to publicly administered pension insurance plans on a mandatory basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expenses when they are due. (c) Housing funds, medical insurances and other social insurances Employees of the Group in the PRC are entitled to participate in various government-supervised housing funds, medical insurances and other social insurances plan. The Group contributes on a monthly basis to these funds based on certain percentages of the salaries of the employees, subject to certain ceiling. The Group’s liability in respect of these funds is limited to the contributions payable in each year. Contributions to the housing funds, medical insurances and other social insurances are expensed as incurred. (d) Bonus plan The expected cost of bonuses is recognized as a liability when the Group has a present legal or constructive obligation for payment of bonus as a result of services rendered by employees and a reliable estimate of the obligation can be made. Liabilities for bonus plans are expected to be settled within 1 year and are measured at the amounts expected to be paid when they are settled. |
Revenue recognition | 3.14. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable for the sales of goods or services in the ordinary course of the Group’s activities. When another party is involved in providing goods or services to a customer, the Group determines whether the nature of its promise is a performance obligation to provide the specified goods or services itself (i.e., the Group is a principal) or to arrange for those goods or services to be provided by the other party (i.e., the Group is an agent). The Group is a principal if it controls the specified goods or services before those goods or services are transferred to a customer. The Group is an agent if its performance obligation is to arrange for the provision of the specified goods or services by another party. In this case, the Group does not control the specified goods or services provided by another party before those goods or services are transferred to the customer. When the Group acts as an agent, it recognises revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the specified goods or services to be provided by the other party. Revenue is recognized when or as the control of the goods or services is transferred to a customer. Depending on the terms of the contract and the laws that apply to the contract, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if the Group’s performance: i. provides all of the benefits received and consumed simultaneously by the customer; ii. creates and enhances an asset that the customer controls as the Group performs; or iii. does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. If control of the goods or services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services. 3.14.1 The accounting policy for the Group’s principal revenue sources Online EV charging solutions The Group offers effective mobility connectivity services by a platform (mainly includes Kuaidian mobile application, and Kuaidian Weixin mini-program) to connect charging station operators and end-users to facilitate the completion of successful EV charging. Historically, Kuaidian Power Beijing operated Kuaidian . The performance obligations for the Group is to present the charging stations and charging piles on the platform, and provide such information for end-users who visit the platform, they could select charging stations and charging piles on their own. Upon the completion of an EV charging order, the Group recognises the service income charged to operators and end-users. The Group provides services to both charging station operators and end-users according to agreements, and the Group performs its obligations for both parties during one transaction, both charging stations and end-users are regarded as the customers of platform services. The Group has determined that it acts as an agent in the online EV charging solutions services as (i) the Group does not obtain control of the services prior to its transfer to the end-user; (ii) the Group does not direct charging stations to perform the service on the Group’s behalf, (iii) the Group is not primarily responsible for charging services provided to end-users, nor do the Group has inventory risk related to these services, and (iv) the Group facilitates setting the price for charging services, however, charging stations and end-users have the ultimate discretion in accepting the transaction price and this indicator alone does not result in controlling the services provided to end-users. The Group pays to the charging station operators in advance before the delivery of service and records it as prepayment as it could be returned. In some cases, the Group may settle afterwards and the balance owed to operators is recorded as payable. Besides that, the Group also provides other online solutions, such as software as a service (“SaaS”) to charging stations to improve the digitalization and the management of them. The Group offers a membership program (“VIP membership”) to its registered users on the platform. Memberships are offered for a one-month, three-month or twelve-month period and customers pay a fixed non-refundable upfront membership fee. During the membership period, members enjoy benefits including exclusive discount on the charging service fee and exclusive membership coupon issued on a monthly basis that expire at the end of the month. The Group has determined that each membership benefit provided over the membership period is a material right that would need to be accounted for as a performance obligation. Transaction price is allocated to each performance obligation based on its standalone selling price. The Group recognizes revenue when the underlying benefit is redeemed by the customer on a transaction by transaction basis as part of online EV charging solution services or when the benefit is expired. Offline EV charging solutions The Group offers offline services to charging station operators related to their operations, including operation of EV charging station, hardware procurement, electricity procurement. In case the Group leases certain EV charging stations and operates the EV charging stations on its own discretion, the Group has determined that it acts as a principal in the services as the Group is primarily responsible for providing the EV charging service to EV drivers. The Group provides charging services based on orders from its own platform as well as other third-party’s platforms. Also, the Group has full discretion in establishing service fee rates for the charging services to customers. EV charging fees received/receivable by the Group under such instances are recognised as revenue on a gross basis when the service is rendered. The Group considers itself as an agent for the hardware procurement and electricity procurement services as the Group does not control hardware or electricity during the transaction. Therefore revenues from such services are recognized on a net basis. Non-charging solutions and other services The Group provides charging station operators with additional retail services and other amenities and ancillary services. The Group charges commission fees based on the value of the facility and the merchandise supplied to charging station operators. Revenues for such services are recognized when the Group satisfies the performance obligations under the service contracts. 3.14.2. Contract balances When either party to a contract has performed, the Group presents the contract in the statement of financial position as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract liability when the payment is made or a receivable is recorded (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. The contract liabilities balance mainly includes advances from platform users and VIP membership. The balances of contract liability as of December 31, 2020 and 2021 were RMB 8.9 million and RMB 25.1 million respectively. 3.14.3 Incentives The Group offers discounts and promotions to end-users to encourage use of the platform in online EV charging solutions business. The Group records such incentives to end-users as reduction of revenue, to the extent of the revenue collected from the customers, unless the payment is in exchange for a distinct good or service and the payment does not exceed fair value of that good or service. In certain transactions, the incentives offered to the end-users exceed the revenue generated from the same transaction. The excess payment is presented as selling and marketing expense instead of negative revenue, as the payment does not relate to any other contracts (including past contracts or anticipated future contracts) with the customers. If consideration payable to a customer is a payment for a distinct good or service from the customer, the Group accounts for the purchase of the good or service in the same way that it accounts for other purchases from suppliers. If the Group cannot reasonably estimate the fair value of the good or service received from the customer, the Group will account for all of the consideration payable to the customer as a reduction of the transaction price. |
Cost of revenue | 3.15. Cost of revenue Cost of revenues mainly consists of electricity costs, depreciation of right-of-use assets, payment processing cost, server cloudy costs and others. |
Selling and marketing expenses | 3.16. Selling and marketing expenses Selling and marketing expenses mainly consist of expenses of certain discounts and promotions to end-users, salaries for sales and marketing personnel, and advertising expenses for branding and acquiring end-users for charging services. Advertising costs are expensed when the service is received. In connection with the online EV charging solutions, the Group offers discounts and promotions to end-users to encourage use of the platform. Accordingly, the Group records the cost of these discounts and promotions as a reduction of revenue on a transaction-by-transaction basis at the time the transaction is completed. In certain transactions, the incentives offered to the end-users exceed the revenue generated from the customers for the same transaction. The excess part is presented as an expense instead of negative revenue, as it does not relate to any other contracts (including past contracts or anticipated future contracts) with the customers. |
Administrative expenses | 3.17. Administrative expenses Administrative expenses mainly consist of salaries and benefits for management and administrative personnel, rental and related expenses, professional fees and other general corporate expenses. |
Research and development expenses | 3.18. Research and development expenses Research and development expenses mainly consist of salaries and benefits as well as related expenses by research and development team. All research and development costs are expensed as incurred, excluding those relating to improvements and maintanence which was recorded as cost of revenue. |
Income tax | 3.19. Income tax Income tax for each year comprises current tax and movements in deferred tax assets and liabilities. Current tax and movements in deferred tax assets and liabilities are recognized in profit or loss except to the extent that they relate to items recognized in other comprehensive income or directly in equity, in which case the relevant amounts of tax are recognized in other comprehensive income or directly in equity, respectively. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the end of the reporting year, and any adjustment to tax payable in respect of previous years. Deferred tax assets and liabilities arise from deductible and taxable temporary differences respectively, being the differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. |
Provisions and contingent liabilities | 3.20. Provisions and contingent liabilities Provisions are recognized for other liabilities of uncertain timing or amount when the Company has a legal or constructive obligation arising as a result of past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Where the time value of money is material, provisions are stated at the present value of the expenditure expected to settle the obligation. Where it is not probable that an outflow of resources will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of resources is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence of one or more future events are also disclosed as contingent liabilities unless the probability of outflow of resources is remote. |
Loss per share | 3.21. Loss per share (a) Basic earnings per share Basic loss per share is calculated by dividing: • the loss attributable to equity holders of the Company, excluding any costs of servicing equity other than ordinary shares; and • by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year/period and excluding treasury shares. (b) Diluted earnings per share. Diluted loss per share adjusts the figures used in the determination of basic loss per share to take into account: • the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares; and the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. |
Leases | 3.22. Leases The Group, as a lessee, leases office buildings and charging stations. Lease contracts are typically made for fixed periods of two years to five years . Lease is recognised as a right-of-use asset and a corresponding lease liability at the date at which the leased asset is available for use by the Group. Contracts may contain both lease and non-lease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the fixed payments (including in-substance fixed payments). Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. The Group uses the incremental borrowing rate, for the implicit rate cannot be readily determined, which is the rate that the Group would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use assets in a similar economic environment with similar terms, security and conditions. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are measured at cost comprising the following: • the amount of the initial measurement of lease liabilities; • any lease payments made at or before the commencement date less any lease incentives received; • any initial direct costs; and • restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use assets is depreciated over the underlying asset’s useful life. Payments associated with short-term leases of equipment and office buildings are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less without a purchase option. |
Finance costs | 3.23. Finance costs Finance costs, net mainly consists of finance costs related to operating lease, and interest income from bank deposits. |
Restatement of Previously Iss_2
Restatement of Previously Issued Consolidated Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Restatement of Previously Issued Consolidated Financial Statements [Abstract] | |
Disclosure of Reconciliation of Impacted Financial Statement Line Items as Filed to Restated Amounts | The following presents a reconciliation of the impacted financial statement line items as filed to the restated amounts as of December 31, 2020 and 2021, and for the years ended December 31, 2020 and 2021. The previously reported amounts reflect those included in the Original Filing filed with the SEC on June 16, 2022. These amounts are labeled as “As Filed” in the tables below. The amounts labeled “Restatement Adjustments” represent the effects of this restatement due to the revisions mentioned above. As of December 31, 2020 As Filed Restatement As Restated Combined statements of financial position Adjustments RMB’000 RMB’000 RMB’000 ASSETS CURRENT ASSETS Cash and cash equivalents 3,665 — 3,665 Trade receivables — 4,824 4,824 Prepayments, other receivables and other assets 44,693 5,166 49,859 Total current assets 48,358 9,990 58,348 Non-current assets Right-of-use assets 19,237 ( 924 ) 18,313 Financial assets at fair value through profit or loss — — — Property, plant and equipment — — — Deferred tax assets 9 ( 9 ) — Total non-current assets 19,246 ( 933 ) 18,313 Total assets 67,604 9,057 76,661 LIABILITIES AND EQUITY Current liabilities Current lease liabilities 4,216 ( 281 ) 3,935 Trade payables — 4,320 4,320 Other payables and accruals 39,234 713 39,947 Total current liabilities 43,450 4,752 48,202 Non-current liabilities Non-current lease liabilities 14,390 ( 489 ) 13,901 Total non-current liabilities 14,390 ( 489 ) 13,901 Total liabilities 57,840 4,263 62,103 EQUITY Combined capital — * — — * Additional paid in capital 147,986 — 147,986 Accumulated losses ( 138,222 ) 4,794 ( 133,428 ) Total equity 9,764 4,794 14,558 Total equity and liabilities 67,604 9,057 76,661 * Representing amount less than RMB1,000. As of December 31, 2021 As Filed Restatement As Restated Combined statements of financial position Adjustments RMB’000 RMB’000 RMB’000 ASSETS CURRENT ASSETS Cash and cash equivalents 8,726 ( 237 ) 8,489 Trade receivables 740 37,716 38,456 Prepayments, other receivables and other assets 117,498 ( 11,665 ) 105,833 Total current assets 126,964 25,814 152,778 Non-current assets Right-of-use assets 20,554 ( 788 ) 19,766 Financial assets at fair value through profit or loss 5,000 — 5,000 Property, plant and equipment 548 — 548 Deferred tax assets 337 ( 337 ) — Total non-current assets 26,439 ( 1,125 ) 25,314 Total assets 153,403 24,689 178,092 LIABILITIES AND EQUITY Current liabilities Current lease liabilities 8,061 ( 994 ) 7,067 Trade payables 437 16,435 16,872 Other payables and accruals 107,440 4,708 112,148 Total current liabilities 115,938 20,149 136,087 Non-current liabilities Non-current lease liabilities 12,396 170 12,566 Total non-current liabilities 12,396 170 12,566 Total liabilities 128,334 20,319 148,653 EQUITY Combined capital — * — — * Additional paid in capital 415,601 7,728 423,329 Accumulated losses ( 390,532 ) ( 3,358 ) ( 393,890 ) Total equity 25,069 4,370 29,439 Total equity and liabilities 153,403 24,689 178,092 * Representing amount less than RMB1,000. Year ended December 31, 2020 As Filed Restatement As Restated Combined statements of loss and other comprehensive loss Adjustments RMB’000 RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 5,124 331 5,455 Net Revenues from Offline EV Charging Solutions 565 — 565 Net Revenues from Non-Charging Solutions and Other Services 143 — 143 Net Revenues 5,832 331 6,163 Other (losses)/ gains, net ( 19 ) 338 319 Operating costs Cost of revenues ( 8,625 ) 2,078 ( 6,547 ) Selling and marketing expenses ( 47,214 ) 756 ( 46,458 ) Administrative expenses ( 11,755 ) ( 201 ) ( 11,956 ) Research and development expenses ( 20,448 ) 2,804 ( 17,644 ) Total operating costs ( 88,042 ) 5,437 ( 82,605 ) Operating loss ( 82,229 ) 6,106 ( 76,123 ) Finance costs 89 ( 389 ) ( 300 ) Net loss before income tax ( 82,140 ) 5,717 ( 76,423 ) Income tax expenses ( 42 ) ( 1,432 ) ( 1,474 ) Net loss ( 82,182 ) 4,285 ( 77,897 ) Net loss attributable to: Equity holders of the Company ( 82,182 ) 4,285 ( 77,897 ) ( 82,182 ) 4,285 ( 77,897 ) Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company (Expressed in RMB per share) Basic loss per share ( 55,906 ) 2,915 ( 52,991 ) Diluted loss per share ( 55,906 ) 2,915 ( 52,991 ) Net loss ( 82,182 ) 4,285 ( 77,897 ) Total comprehensive loss ( 82,182 ) 4,285 ( 77,897 ) Total comprehensive loss attributable to: Equity holders of the Company ( 82,182 ) 4,285 ( 77,897 ) ( 82,182 ) 4,285 ( 77,897 ) Year ended December 31, 2021 As Filed Restatement As Restated Combined statements of loss and other comprehensive loss Adjustments RMB’000 RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 10,104 7,881 17,985 Net Revenues from Offline EV Charging Solutions 7,060 8,042 15,102 Net Revenues from Non-Charging Solutions and Other Services 610 ( 244 ) 366 Net Revenues 17,774 15,679 33,453 Other (losses)/ gains, net ( 1,402 ) 1,540 138 Operating costs Cost of revenues ( 18,863 ) ( 10,724 ) ( 29,587 ) Selling and marketing expenses ( 183,165 ) ( 10,175 ) ( 193,340 ) Administrative expenses ( 28,458 ) ( 6,000 ) ( 34,458 ) Research and development expenses ( 37,158 ) 6,905 ( 30,253 ) Total operating costs ( 267,644 ) ( 19,994 ) ( 287,638 ) Operating loss ( 251,272 ) ( 2,775 ) ( 254,047 ) Finance costs ( 640 ) ( 457 ) ( 1,097 ) Net loss before income tax ( 251,912 ) ( 3,232 ) ( 255,144 ) Income tax expenses ( 398 ) ( 4,920 ) ( 5,318 ) Net loss ( 252,310 ) ( 8,152 ) ( 260,462 ) Net loss attributable to: Equity holders of the Company ( 252,310 ) ( 8,152 ) ( 260,462 ) ( 252,310 ) ( 8,152 ) ( 260,462 ) Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company (Expressed in RMB per share) Basic loss per share ( 50,462 ) 48,627 ( 1,835 ) Diluted loss per share ( 50,462 ) 48,627 ( 1,835 ) Net loss ( 252,310 ) ( 8,152 ) ( 260,462 ) Total comprehensive loss ( 252,310 ) ( 8,152 ) ( 260,462 ) Total comprehensive loss attributable to: Equity holders of the Company ( 252,310 ) ( 8,152 ) ( 260,462 ) ( 252,310 ) ( 8,152 ) ( 260,462 ) Year ended December 31, 2020 As Filed Restatement As Restated Combined statements of cash flows Adjustments RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash used in operations ( 63,014 ) 6,074 ( 56,940 ) Net cash used in operating activities ( 63,014 ) 6,074 ( 56,940 ) Cash flows from investing activities Purchase of property, plant and equipment — — — Purchase of financial assets at fair value through profit or loss — — — Net cash flows used in investing activities — — — Cash flows from financing activities Interests paid ( 189 ) 189 — Payments of lease liabilities ( 3,956 ) 3,956 — Contribution from a shareholder 68,700 ( 10,219 ) 58,481 Net cash flows generated from financing activities 64,555 ( 6,074 ) 58,481 Net increase in cash and cash equivalents 1,541 — 1,541 Cash and cash equivalents at the beginning of the year 2,124 — 2,124 Cash and cash equivalents at the end of the year 3,665 — 3,665 Year ended December 31, 2021 As Filed Restatement As Restated Combined statements of cash flows Adjustments RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash used in operations ( 250,035 ) 30,921 ( 219,114 ) Net cash used in operating activities ( 250,035 ) 30,921 ( 219,114 ) Cash flows from investing activities Purchase of property, plant and equipment ( 606 ) — ( 606 ) Purchase of financial assets at fair value through profit or loss ( 5,000 ) — ( 5,000 ) Net cash flows used in investing activities ( 5,606 ) — ( 5,606 ) Cash flows from financing activities Interests paid ( 767 ) 574 ( 193 ) Payments of lease liabilities ( 6,146 ) 4,265 ( 1,881 ) Contribution from a shareholder 267,615 ( 35,997 ) 231,618 Net cash flows generated from financing activities 260,702 ( 31,158 ) 229,544 Net increase in cash and cash equivalents 5,061 ( 237 ) 4,824 Cash and cash equivalents at the beginning of the year 3,665 — 3,665 Cash and cash equivalents at the end of the year 8,726 ( 237 ) 8,489 |
Corporate information (Tables)
Corporate information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Corporate Information [Abstract] | |
Summary of Subsidiaries | The Company’s major subsidiaries as at December 31, 2021 are set out below. The country of incorporation or registration is also their principal place of business. Name of entity Place of Date of Effective interest Principal activities Subsidiaries Kuaidian Power (Beijing) New Energy Technology Co., Ltd. Beijing, China August 20, 2019 100 % Online EV Charging Solutions, Non-Charging Solutions and Other Services Beijing Chezhubang New Energy Technology Co., Ltd. Beijing, China July 18, 2018 100 % Online EV Charging Solutions Zhidian Youtong Technology Co., Ltd. Shandong, China September 27, 2020 100 % Offline EV Charging Solutions Shaanxi Kuaidian Mobility Technology Co., Ltd. Shaanxi, China May 29, 2018 100 % Offline EV Charging Solutions Qingdao Hill Matrix New Energy Technology Co., Ltd. Shandong, China April 26, 2021 100 % Offline EV Charging Solutions Cosmo Light (Beijing) New Energy Technology Co., Ltd. Beijing, China February 22, 2021 100 % Online EV Charging Solutions |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information of significant accounting policies [Abstract] | |
Summary of Standard Amendments and Interpretations That Have Been Issued but Not Yet Effective | Standards, amendments and interpretations that have been issued but not yet effective and not been early adopted by the Group during the years ended December 31, 2020 and 2021 are as follows: Standards and amendments Effective for annual periods IAS 16 (Amendment) ‘Property, plant and equipment – proceeds before intended use’ January 1, 2022 IAS 37 (Amendment) ‘Onerous contracts – cost of fulfilling a contract’ January 1, 2022 IFRS 3 (Amendment) ‘Reference to the conceptual Framework’ January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 IFRS 17 (Amendment) Insurance Contracts January 1, 2023 Standards and amendments Effective for annual periods IAS 1 (Amendment) ‘Classification of liabilities as current or non-current’ January 1, 2023 IAS 1 and IFRS Practice Statement 2 (Amendment) - Disclosure of Accounting Policies January 1, 2023 IAS 8 (Amendment) - Definition of Accounting Estimates January 1, 2023 Amendments to IFRS 4 - Extension of the Temporary Exemption from Applying IFRS 9 January 1, 2023 Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction Tax January 1, 2023 Amendment to IFRS 10 and IAS 28 regarding sales or contribution assets between an investor and its associate or joint venture To be determined |
Summary of Useful Lives of Property Plant and Equipment | Depreciation is calculated using the straight-line method to allocate their cost amounts, net of their residual values, over their estimated useful lives, as follows: – Electronic equipment 5 years |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Summary of maturity analysis for non-derivative financial liabilities | The table below analyses the Group’s non-derivative financial liabilities into relevant maturity grouping based on the remaining period at each statement of financial position date to the contractual maturity date. The amounts disclosed in the table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. Less than 1 year Between 1 and 2 Between 2 and 5 Total Carrying amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At December 31, 2020 Trade payables 4,320 — — 4,320 4,320 Other payables and accruals (excluding Employee benefit 10,132 — — 10,132 10,132 Lease liabilities 5,005 4,117 11,321 20,443 17,836 19,457 4,117 11,321 34,895 32,288 At December 31, 2021 Trade payables 16,872 — — 16,872 16,872 Other payables and accruals (excluding Employee benefit 35,774 — — 35,774 35,774 Lease liabilities 8,294 6,205 7,204 21,703 19,633 60,940 6,205 7,204 74,349 72,279 |
Summary of analysis of net debt | Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Lease liabilities – repayable within one year 3,935 7,067 Lease liabilities – repayable after one year 13,901 12,566 Lease liabilities 17,836 19,633 |
Summary of reconciliation of liabilities arising from financing activities explanatory | Cash and cash Lease liabilities Total (as restated) (as restated) (as restated) RMB’000 RMB’000 RMB’000 Net debt as at January 1, 2020 2,124 ( 880 ) 1,244 Cash flows 1,541 — 1,541 Lease liabilities — ( 16,956 ) ( 16,956 ) Net debt as at December 31, 2020 3,665 ( 17,836 ) ( 14,171 ) Cash flows 4,824 2,074 6,898 Lease liabilities — ( 3,871 ) ( 3,871 ) Net debt as at December 31, 2021 8,489 ( 19,633 ) ( 11,144 ) |
Summary of fair value of financial instruments | The following table presents the Group’s financial instruments that are measured at fair value at each statement of financial position date: Level 3 Total RMB’000 RMB’000 Recurring fair value measurements At December 31, 2021 Financial assets at fair value through profit or loss 5,000 5,000 |
Summary of significant unobservable inputs used in fair value measurement of assets | The following table summarizes the quantitative information about the significant unobservable inputs used in recurring level 3 fair value measurements. Fair values as of Change of inputs at 2020 2021 Description RMB’000 RMB’000 Unobservable 2020 2021 Relationship of unobservable inputs to fair value Investments in unlisted company — 5,000 Expected volatility — 51 % The higher the expected Discount for lack — 19 % The higher the DLOM, |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Cash and cash equivalents [abstract] | |
Summary of Detailed Information of Cash and Cash Equivalents | As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Cash at bank 1,210 3,734 Deposits held at licensed payment platforms 2,455 4,755 Total 3,665 8,489 |
Trade receivables (Tables)
Trade receivables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Trade and other receivables [abstract] | |
Summary of Trade receivables | As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Trade receivables 4,824 40,926 Provision on impairment — ( 2,470 ) Total 4,824 38,456 |
Summary of Aged Analysis of Trade Receivables | The following is an aged analysis of trade receivables presented based on the invoice date at the end of each reporting period, which approximated the respective revenue recognition dates. As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 0 – 90 days 4,704 16,472 91 – 180 days 120 16,292 181 – 365 days — 5,473 1 – 2 years — 2,689 Total 4,824 40,926 |
Prepayments, other receivable_2
Prepayments, other receivables and other assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Prepayments and accrued income other than contract assets [abstract] | |
Summary of Detailed Information About Prepayments Other Receivables and Other Assets | The detail information of prepayments, other receivables and other assets for the years ended December 31, 2020 and 2021 is as below: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Value-added tax deductable 3,302 32,367 Value-added tax recoverable 23,947 31,964 Prepayments to charging stations 19,906 31,791 Prepayment for rental, facility and utilities 92 5,615 Prepayments for charging piles procurement 1,951 5,106 Prepayments for miscellaneous 617 2,146 Deposits 300 1,462 Receivables from related parties — 556 Others 1,096 672 Credit loss allowance ( 1,352 ) ( 5,846 ) Total 49,859 105,833 |
Financial instruments by cate_2
Financial instruments by category (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Instruments by Category [Abstract] | |
Summary of Detailed Information of Category of Financial Instruments | The detail information of financial instruments by category during the years ended December 31, 2020 and 2021 is as below: As of December 31, 2020 2021 RMB’000 RMB’000 Assets as per statement of financial position Financial asset measured at fair value through profit or loss: —Financial asset at fair value through profit or loss — 5,000 Financial asset measured at amortized costs: Financial asset —Trade receivables 4,824 38,456 —Other receivables, prepayments and deposits (excluding prepayments to suppliers and prepaid expenses) 24,126 29,493 —Cash and cash equivalents 3,665 8,489 Total 32,615 81,438 As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Liabilities as per statement of financial position Financial liabilities measured at amortized cost: — Trade payables 4,320 16,872 — Other payables and accruals (excluding employee benefit payables and taxes payables) 10,132 35,774 — Lease liabilities 17,836 19,633 Total 32,288 72,279 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Leases [Abstract] | |
Summary of Lease Items Recognized in Combined Statements Of Financial Position | (a) Items recognized in the combined statements of financial position As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Right-of-use assets Office buildings 18,313 13,790 Charging stations — 5,976 Total 18,313 19,766 As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Lease liabilities Current 3,935 7,067 Non-current 13,901 12,566 Total 17,836 19,633 |
Summary of Lease Items Recognized in Combined Statements Of Loss And Other Comprehensive Loss | The combined statements of loss and other comprehensive loss shows the following amounts relating to leases: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Depreciation charge of right-of-use assets Office buildings 3,537 4,523 Charging stations — 1,992 Interest expense (included in finance costs) 300 1,097 Expense relating to short-term leases not included in lease liabilities (included in cost of revenues, selling and marketing expenses, administrative expenses and research and development expenses) — 3,837 Total 3,837 11,449 |
Summary of Cash Out Flows in Financing Activity for Leases | The total cash outflows in financing activities for leases during the years ended December 31, 2020 and 2021 are as below: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Principal elements of lease payments — 1,881 Related interest paid — 193 Total — 2,074 |
Summary of Right-of-use Assets | The carrying amounts of right-of-use assets are as below: Office Charging Total (as restated) (as restated) (as restated) RMB’000 RMB’000 RMB’000 Year ended December 31, 2020 Opening net book amount 3,864 — 3,864 Additions 17,986 — 17,986 Depreciation charge ( 3,537 ) — ( 3,537 ) Closing net book amount 18,313 — 18,313 As of December 31, 2020 Cost 24,351 — 24,351 Accumulated depreciation ( 6,038 ) — ( 6,038 ) Net book value 18,313 — 18,313 Year ended December 31, 2021 Opening net book amount 18,313 — 18,313 Additions — 7,968 7,968 Depreciation charge ( 4,523 ) ( 1,992 ) ( 6,515 ) Closing net book amount 13,790 5,976 19,766 As of December 31, 2021 Cost 24,351 7,968 32,319 Accumulated depreciation ( 10,561 ) ( 1,992 ) ( 12,553 ) Net book value 13,790 5,976 19,766 |
Financial asset at fair value_2
Financial asset at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through profit or loss [abstract] | |
Disclosure Of Financial Assets At Fair Value Through Profit Or Loss Explanatory | As of December 31, 2020 2021 RMB’000 RMB’000 Investment (Note i) — 5,000 |
Disclosure Of Reconciliation Of Changes In Fair Value Measurement Assets Explanatory | The Group invested in an investee company in the form of ordinary shares without significant influence, which is managed on fair value. For the major assumptions used in the valuation for the investment, please refer to Note 4.3. As of December 31, 2020 2021 RMB’000 RMB’000 At the beginning of the year — — Additions (a) — 5,000 At the end of the year — 5,000 During the year ended December 31, 2021, the Group invested in a company engaging in EV charging hardware and technology industry for RMB 5.0 million, and there is no fair value change within the year. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of detailed information about property, plant and equipment | Electronic (as restated) RMB’000 At January 1, 2021 Cost — Accumulated depreciation — Net carrying amount — At January 1, 2021, net of accumulated depreciation — Additions 606 Depreciation provided during the year ( 58 ) At December 31, 2021, net of accumulated depreciation 548 At December 31, 2021 Cost 606 Accumulated depreciation ( 58 ) Net carrying amount 548 |
Other payables and accruals (Ta
Other payables and accruals (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Trade and other payables [abstract] | |
Schedule Of Other Payables And Accruals | As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Other taxes payable (Note i) 24,415 58,180 Advances from platform users 8,506 18,401 Employee benefit payables 3,926 11,403 Accrued expenses 1,038 10,508 Income tax payable 1,474 6,791 Contract liabilities (Note ii) 357 5,365 Deferred income (Note iii) — 1,345 Others 231 155 Total 39,947 112,148 Notes: (i) Other taxes payable primarily represent value-added tax ("VAT") and related surcharges, and PRC individual income tax of employees withheld by the Group. (ii) Details of contract liabilities are as follows: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 VIP membership and coupon sales 75 4,961 Customer advances in charging piles sales 201 50 Others 81 354 Total 357 5,365 Contract liabilities include balances of customer advances collected from charging piles sales, VIP membership and coupon sales . The increase of contract liabilities in 2021 was mainly due to the increase of balance of unutilised VIP membership and coupons which are inline with transaction volume through the platform. (iii) The deferred income is unconsumed carbon credits with a validity term of 6 months since granted. |
Combined capital and addition_2
Combined capital and additional paid in capital (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Information on Combined Capital and Additional Paid in Capital [Abstract] | |
Summary Of Changes In Combined Capital And Additional Paid In Capital | Number of Nominal value Combined Additional Total USD RMB RMB’000 RMB’000 At January 1, 2020 (note i) 1,000 — * 1 79,604 79,604 Issuance of ordinary shares (note ii) 4,000 — * 3 — — Contribution of a shareholder (note iii) — — — 68,382 68,382 At December 31, 2020 5,000 1 3 147,986 147,986 At January 1, 2021 5,000 1 3 147,986 147,986 Contribution of a shareholder (note iii) — — — 275,343 275,343 At December 31, 2021 5,000 1 3 423,329 423,329 All issued shares are fully paid as at December 31, 2020 and 2021. * Representing amount less than US$ 1.00 . ** Representing amount less than RMB 1,000 . Notes: On January 13, 2022, pursuant to shareholders’ resolution, each existing issued and unissued share of US$ 0.001 each in the share capital of the Company were subdivided into 10 shares of US$ 0.0001 each (“Share Subdivision”). (i) In July 2019, 100 ordinary shares ( 1,000 ordinary shares in reflection of Share Subdivision) of the Company were allotted and issued to shareholders. (ii) On November 19, 2020, 400 ordinary shares ( 4,000 ordinary shares in reflection of Share Subdivision) of the Company were allotted and issued to Newlink Technology Limited. (iii) A shareholder offered financial support during years ended December 31, 2020 and 2021. |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue [abstract] | |
Disclosure of detailed information about revenue explanatory | 15. Revenues Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 5,455 17,985 Net Revenues from Offline EV Charging Solutions 565 15,102 Net Revenues from Non-Charging Solutions and Other Services 143 366 Net Revenues 6,163 33,453 |
Other gains, net (Tables)
Other gains, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Other Gains Losses Net [Abstract] | |
Disclosure of detailed information about other gains losses net explanatory | Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Non-operating income 319 138 Non-operating expenses 0 0 Total 319 138 |
Operating costs by nature (Tabl
Operating costs by nature (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Expenses by nature [abstract] | |
summary of detailed information about operating costs by nature explanatory | Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Incentives through network 23,338 105,939 Employee benefit expenses 40,402 112,102 Promotion and advertising 5,132 16,675 Offline service costs — 7,965 Traveling, entertainment and general office expenses 3,106 7,640 Auditor’s remuneration — 7,066 Depreciation of right-of-use assets 3,537 6,515 Bandwidth expenses and server custody costs 2,760 4,331 Rental, facility and utilities 669 4,277 Payment processing cost 1,695 3,893 Online service costs 6 1,250 Others 1,960 9,985 Total operating costs 82,605 287,638 |
Finance costs (Tables)
Finance costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Finance Income Expense [Abstract] | |
Summary of detailed information about finance income expense explanatory | Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Interest expense from lease liabilities ( 300 ) ( 1,097 ) Finance costs ( 300 ) ( 1,097 ) |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tax Effects Of [Abstract] | |
Disclosure of reconciliation of income tax (expenses)benefits | The income tax expenses of the Group during the years ended December 31, 2020 and 2021 are analysed as follows: Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Current income tax 1,474 5,318 Deferred income tax — — Total income tax expense 1,474 5,318 Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Loss before income tax ( 76,423 ) ( 255,144 ) Tax calculated at statutory income tax rate of 25% in mainland China ( 19,106 ) ( 63,786 ) Tax effects of: — Expenses not deductible for income tax purposes 469 1,069 — Tax losses for which no deferred tax assets were recognized 20,111 68,035 — Utilization of previously unrecognized tax losses — — 1,474 5,318 |
Disclosure of tax losses and carry forwards explanatory | The tax losses carried forward by the Group and their respective expiry dates are as follows: As of December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 2023 34 34 2024 26,561 26,561 2025 70,757 67,172 2026 — 110,045 Total unrecorded tax losses carry forwards 97,352 203,812 |
Loss per share (Tables)
Loss per share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [abstract] | |
Earnings per share | In reflection of the Share Subdivision mentioned in Note 14, the weighted average number of ordinary shares for the purpose of basic and diluted earnings per share for the years ended December 31, 2020 and 2021 has been retrospectively adjusted. Year ended December 31, 2020 2021 (as restated) (as restated) Net loss attributable to equity holders of the Company (RMB’000) 77,897 260,462 Weighted average number of ordinary shares in issue 1,470 141,973 Basic loss per share (RMB per share) 52,991 1,835 |
Cash flow information (Tables)
Cash flow information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Cash used in operation Abstract [Abstract] | |
Cash used in operation | (a) Cash used in operation Year ended December 31, 2020 2021 (as restated) (as restated) RMB’000 RMB’000 Net Loss before income tax ( 76,423 ) ( 255,144 ) Adjustments for: Depreciation of property, plant and equipment (Note 12) — 58 Depreciation of right-of-use assets (Note 10) 3,537 6,515 Credit loss allowances on financial asset 135 3,205 Non-cash employee benefits expense—share based payments — 10,788 Interest expense (Note 18) 300 1,097 Increase in trade receivables ( 4,824 ) ( 33,632 ) Increase in prepayments, other receivables and other assets ( 14,449 ) ( 59,178 ) Increase in trade and other payables 34,508 101,097 Increase in contract liabilities 276 6,080 Cash used in operations ( 56,940 ) ( 219,114 ) |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of commitments [Abstract] | |
Disclosure of maturity analysis of operating lease payments | The future aggregate minimum lease payments under operating leases exempted to be recognized as lease liabilities are as follows: Year ended December 31, 2020 2021 RMB’000 RMB’000 Within one year — 5,645 Total — 5,645 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Disclosure of transactions between related parties | The following table sets forth information regarding our directors and executive officers for the years ended December 31, 2020 and 2021. Year ended December 31, 2020 2021 RMB’000 RMB’000 Short-term employee benefits 1,056 2,692 1,056 2,692 |
Restatement of Previously Iss_3
Restatement of Previously Issued Consolidated Financial Statements - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Share-based compensation | ¥ 10,788 | ¥ 0 |
Additional paid-in capital | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Share-based compensation | ¥ 10,700 |
Restatement of Previously Iss_4
Restatement of Previously Issued Consolidated Financial Statements - Combined Statements of Financial Position (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
CURRENT ASSETS | ||||||
Cash and cash equivalents | ¥ 8,489 | ¥ 3,665 | ||||
Trade receivables | 38,456 | 4,824 | ||||
Prepayments, other receivables and other assets | 105,833 | 49,859 | ||||
Total current assets | 152,778 | 58,348 | ||||
Non-current assets | ||||||
Right-of-use assets | 19,766 | 18,313 | ¥ 3,864 | |||
Financial assets at fair value through profit or loss | 5,000 | |||||
Property, plant and equipment | 548 | |||||
Deferred tax assets | 0 | 0 | ||||
Total non-current assets | 25,314 | 18,313 | ||||
Total assets | 178,092 | 76,661 | ||||
Current liabilities | ||||||
Current lease liabilities | 7,067 | 3,935 | ||||
Trade payables (as restated) | 16,872 | 4,320 | ||||
Other payables and accruals | 112,148 | 39,947 | ||||
Total current liabilities | 136,087 | 48,202 | ||||
Non-current liabilities | ||||||
Non-current lease liabilities | 12,566 | 13,901 | ||||
Total non-current liabilities | 12,566 | 13,901 | ||||
Total liabilities | 148,653 | 62,103 | ||||
EQUITY | ||||||
Combined capital | [1] | 0 | [2] | 0 | [3] | |
Additional paid in capital | 423,329 | 147,986 | ||||
Accumulated losses | (393,890) | (133,428) | ||||
Total equity | 29,439 | 14,558 | ¥ 24,073 | |||
Total equity and liabilities | 178,092 | 76,661 | ||||
As Filed | ||||||
CURRENT ASSETS | ||||||
Cash and cash equivalents | 8,726 | 3,665 | ||||
Trade receivables | 740 | |||||
Prepayments, other receivables and other assets | 117,498 | 44,693 | ||||
Total current assets | 126,964 | 48,358 | ||||
Non-current assets | ||||||
Right-of-use assets | 20,554 | 19,237 | ||||
Financial assets at fair value through profit or loss | 5,000 | |||||
Property, plant and equipment | 548 | |||||
Deferred tax assets | 337 | 9 | ||||
Total non-current assets | 26,439 | 19,246 | ||||
Total assets | 153,403 | 67,604 | ||||
Current liabilities | ||||||
Current lease liabilities | 8,061 | 4,216 | ||||
Trade payables (as restated) | 437 | |||||
Other payables and accruals | 107,440 | 39,234 | ||||
Total current liabilities | 115,938 | 43,450 | ||||
Non-current liabilities | ||||||
Non-current lease liabilities | 12,396 | 14,390 | ||||
Total non-current liabilities | 12,396 | 14,390 | ||||
Total liabilities | 128,334 | 57,840 | ||||
EQUITY | ||||||
Combined capital | 0 | [2] | 0 | [3] | ||
Additional paid in capital | 415,601 | 147,986 | ||||
Accumulated losses | (390,532) | (138,222) | ||||
Total equity | 25,069 | 9,764 | ||||
Total equity and liabilities | 153,403 | 67,604 | ||||
Restatement Adjustments | ||||||
CURRENT ASSETS | ||||||
Cash and cash equivalents | (237) | |||||
Trade receivables | 37,716 | 4,824 | ||||
Prepayments, other receivables and other assets | (11,665) | 5,166 | ||||
Total current assets | 25,814 | 9,990 | ||||
Non-current assets | ||||||
Right-of-use assets | (788) | (924) | ||||
Deferred tax assets | (337) | (9) | ||||
Total non-current assets | (1,125) | (933) | ||||
Total assets | 24,689 | 9,057 | ||||
Current liabilities | ||||||
Current lease liabilities | (994) | (281) | ||||
Trade payables (as restated) | 16,435 | 4,320 | ||||
Other payables and accruals | 4,708 | 713 | ||||
Total current liabilities | 20,149 | 4,752 | ||||
Non-current liabilities | ||||||
Non-current lease liabilities | 170 | (489) | ||||
Total non-current liabilities | 170 | (489) | ||||
Total liabilities | 20,319 | 4,263 | ||||
EQUITY | ||||||
Combined capital | 0 | 0 | ||||
Additional paid in capital | 7,728 | |||||
Accumulated losses | (3,358) | 4,794 | ||||
Total equity | 4,370 | 4,794 | ||||
Total equity and liabilities | ¥ 24,689 | ¥ 9,057 | ||||
[1] Representing amount less than RMB1,000. * Representing amount less than RMB1,000. * Representing amount less than RMB1,000. |
Restatement of Previously Iss_5
Restatement of Previously Issued Consolidated Financial Statements - Combined Statements of Loss and Other Comprehensive Loss (Details) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net Revenues | ¥ 33,453 | ¥ 6,163 |
Other (losses)/ gains, net | 138 | 319 |
Operating costs | ||
Cost of revenues | (29,587) | (6,547) |
Selling and marketing expenses | (193,340) | (46,458) |
Administrative expenses | (34,458) | (11,956) |
Research and development expenses | (30,253) | (17,644) |
Total operating costs | (287,638) | (82,605) |
Operating loss | (254,047) | (76,123) |
Finance costs | (1,097) | (300) |
Net loss before income tax | (255,144) | (76,423) |
Income tax expenses | (5,318) | (1,474) |
Net loss | (260,462) | (77,897) |
Net loss attributable to: | ||
Equity holders of the Company | (260,462) | (77,897) |
Net loss | ¥ (260,462) | ¥ (77,897) |
Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company | ||
Basic loss per share | ¥ (1,835) | ¥ (52,991) |
Diluted loss per share | ¥ (1,835) | ¥ (52,991) |
Total comprehensive loss attributable to: | ||
Equity holders of the Company | ¥ (260,462) | ¥ (77,897) |
Total comprehensive loss | (260,462) | (77,897) |
Online EV Charging Solutions | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 17,985 | 5,455 |
Offline EV Charging Solutions | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 15,102 | 565 |
Non-Charging Solutions and Other Services | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 366 | 143 |
As Filed | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net Revenues | 17,774 | 5,832 |
Other (losses)/ gains, net | (1,402) | (19) |
Operating costs | ||
Cost of revenues | (18,863) | (8,625) |
Selling and marketing expenses | (183,165) | (47,214) |
Administrative expenses | (28,458) | (11,755) |
Research and development expenses | (37,158) | (20,448) |
Total operating costs | (267,644) | (88,042) |
Operating loss | (251,272) | (82,229) |
Finance costs | (640) | 89 |
Net loss before income tax | (251,912) | (82,140) |
Income tax expenses | (398) | (42) |
Net loss | (252,310) | (82,182) |
Net loss attributable to: | ||
Equity holders of the Company | (252,310) | (82,182) |
Net loss | ¥ (252,310) | ¥ (82,182) |
Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company | ||
Basic loss per share | ¥ (50,462) | ¥ (55,906) |
Diluted loss per share | ¥ (50,462) | ¥ (55,906) |
Total comprehensive loss attributable to: | ||
Equity holders of the Company | ¥ (252,310) | ¥ (82,182) |
Total comprehensive loss | (252,310) | (82,182) |
As Filed | Online EV Charging Solutions | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 10,104 | 5,124 |
As Filed | Offline EV Charging Solutions | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 7,060 | 565 |
As Filed | Non-Charging Solutions and Other Services | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 610 | 143 |
Restatement Adjustments | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net Revenues | 15,679 | 331 |
Other (losses)/ gains, net | 1,540 | 338 |
Operating costs | ||
Cost of revenues | (10,724) | 2,078 |
Selling and marketing expenses | (10,175) | 756 |
Administrative expenses | (6,000) | (201) |
Research and development expenses | 6,905 | 2,804 |
Total operating costs | (19,994) | 5,437 |
Operating loss | (2,775) | 6,106 |
Finance costs | (457) | (389) |
Net loss before income tax | (3,232) | 5,717 |
Income tax expenses | (4,920) | (1,432) |
Net loss | (8,152) | 4,285 |
Net loss attributable to: | ||
Equity holders of the Company | (8,152) | 4,285 |
Net loss | ¥ (8,152) | ¥ 4,285 |
Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company | ||
Basic loss per share | ¥ 48,627 | ¥ 2,915 |
Diluted loss per share | ¥ 48,627 | ¥ 2,915 |
Total comprehensive loss attributable to: | ||
Equity holders of the Company | ¥ (8,152) | ¥ 4,285 |
Total comprehensive loss | (8,152) | 4,285 |
Restatement Adjustments | Online EV Charging Solutions | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 7,881 | ¥ 331 |
Restatement Adjustments | Offline EV Charging Solutions | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | 8,042 | |
Restatement Adjustments | Non-Charging Solutions and Other Services | ||
Restatement of Previously Issued Consolidated Financial Statements [Line Items] | ||
Net revenues from rendering of services | ¥ (244) |
Restatement of Previously Iss_6
Restatement of Previously Issued Consolidated Financial Statements - Combined Statements of Cash Flows (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities | ||
Cash used in operations | ¥ (219,114) | ¥ (56,940) |
Net cash used in operating activities | (219,114) | (56,940) |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (606) | |
Purchase of financial assets at fair value through profit or loss | (5,000) | |
Net cash flows used in investing activities | (5,606) | |
Cash flows from (used in) financing activities [abstract] | ||
Interest paid | (193) | |
Payments of lease liabilities | (1,881) | |
Contribution from a shareholder | 231,618 | 58,481 |
Net cash flows generated from financing activities | 229,544 | 58,481 |
Net increase in cash and cash equivalents | 4,824 | 1,541 |
Cash and cash equivalents at the beginning of the year | 3,665 | 2,124 |
Cash and cash equivalents at the end of the year | 8,489 | 3,665 |
As Filed | ||
Cash flows from operating activities | ||
Cash used in operations | (250,035) | (63,014) |
Net cash used in operating activities | (250,035) | (63,014) |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (606) | |
Purchase of financial assets at fair value through profit or loss | (5,000) | |
Net cash flows used in investing activities | (5,606) | |
Cash flows from (used in) financing activities [abstract] | ||
Interest paid | (767) | (189) |
Payments of lease liabilities | (6,146) | (3,956) |
Contribution from a shareholder | 267,615 | 68,700 |
Net cash flows generated from financing activities | 260,702 | 64,555 |
Net increase in cash and cash equivalents | 5,061 | 1,541 |
Cash and cash equivalents at the beginning of the year | 3,665 | 2,124 |
Cash and cash equivalents at the end of the year | 8,726 | 3,665 |
Restatement Adjustments | ||
Cash flows from operating activities | ||
Cash used in operations | 30,921 | 6,074 |
Net cash used in operating activities | 30,921 | 6,074 |
Cash flows from (used in) financing activities [abstract] | ||
Interest paid | 574 | 189 |
Payments of lease liabilities | 4,265 | 3,956 |
Contribution from a shareholder | (35,997) | (10,219) |
Net cash flows generated from financing activities | (31,158) | ¥ (6,074) |
Net increase in cash and cash equivalents | (237) | |
Cash and cash equivalents at the end of the year | ¥ (237) |
Corporate information - Summary
Corporate information - Summary of Subsidiaries (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Kuaidian Power (Beijing) New Energy Technology Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Name of entity | Kuaidian Power (Beijing) New Energy Technology Co., Ltd. |
Place of incorporated | Beijing, China |
Date of incorporation | Aug. 20, 2019 |
Effective interest held upon completion of reorganization | 100% |
Principal activities | Online EV Charging Solutions, Non-Charging Solutions and Other Services |
Beijing Chezhubang New Energy Technology Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Name of entity | Beijing Chezhubang New Energy Technology Co., Ltd. |
Place of incorporated | Beijing, China |
Date of incorporation | Jul. 18, 2018 |
Effective interest held upon completion of reorganization | 100% |
Principal activities | Online EV Charging Solutions |
Zhidian Youtong Technology Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Name of entity | Zhidian Youtong Technology Co., Ltd. |
Place of incorporated | Shandong, China |
Date of incorporation | Sep. 27, 2020 |
Effective interest held upon completion of reorganization | 100% |
Principal activities | Offline EV Charging Solutions |
Shaanxi Kuaidian Mobility Technology Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Name of entity | Shaanxi Kuaidian Mobility Technology Co., Ltd. |
Place of incorporated | Shaanxi, China |
Date of incorporation | May 29, 2018 |
Effective interest held upon completion of reorganization | 100% |
Principal activities | Offline EV Charging Solutions |
Qingdao Hill Matrix New Energy Technology Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Name of entity | Qingdao Hill Matrix New Energy Technology Co., Ltd. |
Place of incorporated | Shandong, China |
Date of incorporation | Apr. 26, 2021 |
Effective interest held upon completion of reorganization | 100% |
Principal activities | Offline EV Charging Solutions |
Cosmo Light (Beijing) New Energy Technology Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Name of entity | Cosmo Light (Beijing) New Energy Technology Co., Ltd. |
Place of incorporated | Beijing, China |
Date of incorporation | Feb. 22, 2021 |
Effective interest held upon completion of reorganization | 100% |
Principal activities | Online EV Charging Solutions |
Corporate information - Additio
Corporate information - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | |
Mar. 01, 2022 | Sep. 30, 2021 | Apr. 05, 2022 | |
Beijing Chezhubang | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Cosmo Light | Acquisition Of Equity Interests In Subsdiary | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
QHM New Energy | Acquisition Of Equity Interests In Subsdiary | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
XXND Automobile | Acquisition Of Equity Interests In Subsdiary | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 80% | ||
Kuaidian Power Beijing | Acquisition Of Equity Interests In Subsdiary | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Anji Zhidian | Beijing Chezhubang | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Shaanxi Kuaidian | Beijing Chezhubang | |||
Disclosure Of General Information About Financial Statements [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% |
Summary of significant accoun_4
Summary of significant accounting policies- Summary of Standard Amendments and Interpretations That Have Been Issued But Not Yet Effective (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
IAS 16 (Amendment) ‘Property, plant and equipment – proceeds before intended use' | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2022 |
IAS 37 (Amendment) ‘Onerous contracts – cost of fulfilling a contract' | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2022 |
IFRS 3 (Amendment) ‘Reference to the conceptual Framework' | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2022 |
Annual Improvements to IFRS Standards 2018-2020 | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2022 |
IFRS 17 Insurance Contracts | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
IFRS 17 (Amendment) Insurance Contracts | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
IAS 1 (Amendment) ‘Classification of liabilities as current or non-current' | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
IAS 1 and IFRS Practice Statement 2 (Amendment) - Disclosure of Accounting Policies | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
IAS 8 (Amendment) - Definition of Accounting Estimates | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
Amendments to IFRS 4 - Extension of the Temporary Exemption from Applying IFRS 9 . | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction Tax | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | January 1, 2023 |
Amendment to IFRS 10 and IAS 28 regarding sales or contribution assets between an investor and its associate or joint venture | |
Disclosure Of Detailed Information About Standards Amendments And Interpretations That Have Been Issued But Not Yet Effective [Line Items] | |
Effective for annual periods beginning on or after | To be determined |
Summary of significant accoun_5
Summary of significant accounting policies - Summary of Useful Lives of Property Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Electronic equipment | |
Disclosure In Tabular Form Of Useful Lives Of Property Plant And Equipment [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 5 years |
Summary of significant accoun_6
Summary of significant accounting policies - Additional Information (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | |||
Jan. 26, 2022 CNY (¥) | Jan. 26, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Summary of Significant Accounting Polices [Line Items] | ||||
Lease Term | 12 months | |||
Net Loss before income tax | ¥ (260,462) | ¥ (77,897) | ||
Cash Flows From Used In Operating Activities | (219,114) | (56,940) | ||
Contract liability balance | 5,365 | 357 | ||
As Filed | ||||
Summary of Significant Accounting Polices [Line Items] | ||||
Net Loss before income tax | (252,310) | (82,182) | ||
Cash Flows From Used In Operating Activities | ¥ (250,035) | (63,014) | ||
Series A convertible redeemable preference shares | ||||
Summary of Significant Accounting Polices [Line Items] | ||||
Total cash consideration | ¥ 556,400 | $ 87.3 | ||
Bottom of range [member] | ||||
Summary of Significant Accounting Polices [Line Items] | ||||
Lease Term | 2 years | |||
Top of range [member] | ||||
Summary of Significant Accounting Polices [Line Items] | ||||
Lease Term | 5 years | |||
Advances from platform users and VIP membership [member] | ||||
Summary of Significant Accounting Polices [Line Items] | ||||
Contract liability balance | ¥ 25,100 | ¥ 8,900 |
Financial risk management - Add
Financial risk management - Additional Information (Detail) - Jan. 26, 2022 ¥ in Millions, $ in Millions | USD ($) | CNY (¥) |
Convertible Redeemable Preference Shares [Member] | Events after Reporting Period [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total cash consideration | $ 87.3 | ¥ 556.4 |
Financial risk management - Sum
Financial risk management - Summary of Maturity Analysis for Non-Derivative Financial Liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables | ¥ 16,872 | ¥ 4,320 |
Trade payables | 16,872 | 4,320 |
Other payables and accruals (excluding Employee benefit payables and taxes payables) | 35,774 | 10,132 |
Lease liabilities | 21,703 | 20,443 |
Lease liabilities | 19,633 | 17,836 |
Total | 74,349 | 34,895 |
Carrying amount [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables | 16,872 | 4,320 |
Other payables and accruals (excluding Employee benefit payables and taxes payables) | 35,774 | 10,132 |
Lease liabilities | 19,633 | 17,836 |
Total | 72,279 | 32,288 |
Less than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade payables | 16,872 | 4,320 |
Other payables and accruals (excluding Employee benefit payables and taxes payables) | 35,774 | 10,132 |
Lease liabilities | 8,294 | 5,005 |
Total | 60,940 | 19,457 |
Between 1 and 2 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Lease liabilities | 6,205 | 4,117 |
Total | 6,205 | 4,117 |
Between 2 and 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Lease liabilities | 7,204 | 11,321 |
Total | ¥ 7,204 | ¥ 11,321 |
Financial risk management - S_2
Financial risk management - Summary of Analysis of Net Debt (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure In Tabular Form Of Analysis Of Net Debt [Line Items] | ||
Lease liabilities - repayable within one year | ¥ 7,067 | ¥ 3,935 |
Lease liabilities - repayable after one year | 12,566 | 13,901 |
Lease liabilities | ¥ 19,633 | ¥ 17,836 |
Financial risk management - S_3
Financial risk management - Summary of Reconciliation of Liabilities Arising from Financing Activities Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Net debt beginning | ¥ (14,171) | ¥ (1,244) |
Cash flows | 6,898 | 1,541 |
Lease liabilities | (3,871) | (16,956) |
Net debt ending | (11,144) | (14,171) |
Cash and cash equivalents [Member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Net debt beginning | 3,665 | 2,124 |
Cash flows | 4,824 | 1,541 |
Net debt ending | 8,489 | 3,665 |
Lease liabilities | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Net debt beginning | (17,836) | (880) |
Cash flows | 2,074 | |
Lease liabilities | (3,871) | (16,956) |
Net debt ending | ¥ (19,633) | ¥ (17,836) |
Financial risk management - S_4
Financial risk management - Summary of Fair Value of Financial Instruments (Detail) ¥ in Thousands | Dec. 31, 2021 CNY (¥) |
Disclosure of fair value measurement of assets [line items] | |
Financial assets at fair value through profit or loss | ¥ 5,000 |
Recurring fair value measurements | |
Disclosure of fair value measurement of assets [line items] | |
Financial assets at fair value through profit or loss | 5,000 |
Level 3 | Recurring fair value measurements | |
Disclosure of fair value measurement of assets [line items] | |
Financial assets at fair value through profit or loss | ¥ 5,000 |
Financial risk management - S_5
Financial risk management - Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Fair values | ¥ 5,000 | |
Expected Volatility Measurement Input | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Description | Investments in unlisted company | |
Unobservable inputs | Expected volatility | |
Change of inputs | 51% | 0% |
Relationship of unobservable inputs to fair value | The higher the expectedvolatility, the lowerthe fair value | |
Expected Volatility Measurement Input | Level 3 | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Fair values | ¥ 5,000 | ¥ 0 |
Discount For Lack Of Marketability | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Unobservable inputs | Discount for lackof marketability(“DLOM”) | |
Change of inputs | 19% | 0% |
Relationship of unobservable inputs to fair value | The higher the DLOM,the lower the fair value |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of Detailed Information of Cash and Cash Equivalents (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | ¥ 3,734 | ¥ 1,210 | |
Deposits held at licensed payment platforms | 4,755 | 2,455 | |
Total | ¥ 8,489 | ¥ 3,665 | ¥ 2,124 |
Trade receivables - Summary of
Trade receivables - Summary of Trade Receivables (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Trade Receivables [Line Items] | ||
Trade receivables | ¥ 40,926 | ¥ 4,824 |
Provision on impairment | (2,470) | 0 |
Total | ¥ 38,456 | ¥ 4,824 |
Trade receivables - Summary o_2
Trade receivables - Summary of Aged Analysis of Trade Receivables (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | ¥ 38,456 | ¥ 4,824 |
Trade receivables | 40,926 | 4,824 |
0 - 90 days [Member] | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 16,472 | 4,704 |
91 - 180 days [Member] | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 16,292 | ¥ 120 |
181 - 365 days | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 5,473 | |
1 - 2 years | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | ¥ 2,689 |
Trade receivables - Additional
Trade receivables - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Trade Receivables [Abstract] | ||
Provision on impairment | ¥ 2,470 | ¥ 0 |
Prepayments, other receivable_3
Prepayments, other receivables and other assets - Summary of Detailed Information About Prepayments Other Receivables and Other Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Prepayments Other Receivables And Other Assets [Abstract] | ||
Value-added tax deductable | ¥ 32,367 | ¥ 3,302 |
Value-added tax recoverable | 31,964 | 23,947 |
Prepayments to charging stations | 31,791 | 19,906 |
Prepayment for rental, facility and utilities | 5,615 | 92 |
Prepayments for charging piles procurement | 5,106 | 1,951 |
Prepayments for miscellaneous | 2,146 | 617 |
Deposits | 1,462 | 300 |
Receivables from related parties | 556 | 0 |
Others | 672 | 1,096 |
Credit loss allowances | (5,846) | (1,352) |
Total | ¥ 105,833 | ¥ 49,859 |
Financial instruments by cate_3
Financial instruments by category - Summary of Detailed Information of Category of Financial Instruments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial asset measured at fair value through profit or loss: | ||
Financial assets at fair value through profit or loss | ¥ 5,000 | |
Financial asset measured at amortized costs: | ||
Financial assets | 81,438 | ¥ 32,615 |
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 72,279 | 32,288 |
Trade payables [Member] | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 16,872 | 4,320 |
Other payables and accruals (excluding employee benefit payables and taxes payables) {Member] | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 35,774 | 10,132 |
Lease liabilities [member] | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 19,633 | 17,836 |
Trade receivables [member] | ||
Financial asset measured at amortized costs: | ||
Financial assets at amortised cost | 38,456 | 4,824 |
Other receivables, prepayments and deposits (excluding prepayments to suppliers and prepaid expenses). [Member] | ||
Financial asset measured at amortized costs: | ||
Financial assets at amortised cost | 29,493 | 24,126 |
Cash and cash equivalents [Member] | ||
Financial asset measured at amortized costs: | ||
Financial assets at amortised cost | ¥ 8,489 | ¥ 3,665 |
Leases - Summary of Right-of-us
Leases - Summary of Right-of-use Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening net book amount | ¥ 18,313 | ¥ 3,864 |
Additions | 7,968 | 17,986 |
Depreciation charge | (6,515) | (3,537) |
Closing net book amount | 19,766 | 18,313 |
Cost | 32,319 | 24,351 |
Accumulated depreciation | (12,553) | (6,038) |
Net book value | 19,766 | 18,313 |
Office Building [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening net book amount | 18,313 | 3,864 |
Additions | 17,986 | |
Depreciation charge | (4,523) | (3,537) |
Closing net book amount | 13,790 | 18,313 |
Cost | 24,351 | 24,351 |
Accumulated depreciation | (10,561) | (6,038) |
Net book value | 13,790 | ¥ 18,313 |
Charging Stations [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Additions | 7,968 | |
Depreciation charge | (1,992) | |
Closing net book amount | 5,976 | |
Cost | 7,968 | |
Accumulated depreciation | (1,992) | |
Net book value | ¥ 5,976 |
Leases - Summary of Lease Items
Leases - Summary of Lease Items Recognized in Combined Statements Of Financial Position (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Right-of-use assets | |||
Right-of-use assets | ¥ 19,766 | ¥ 18,313 | ¥ 3,864 |
Lease liabilities | |||
Current | 7,067 | 3,935 | |
Non-current | 12,566 | 13,901 | |
Lease liabilities | 19,633 | 17,836 | |
Office buildings [Member] | |||
Right-of-use assets | |||
Right-of-use assets | 13,790 | ¥ 18,313 | ¥ 3,864 |
Charging stations [Member] | |||
Right-of-use assets | |||
Right-of-use assets | ¥ 5,976 |
Leases - Summary of Lease Ite_2
Leases - Summary of Lease Items Recognized in Combined Statements Of Loss And Other Comprehensive Loss (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Leases Recognized In Comprehensive Income Statement [Line Items] | ||
Depreciation charge of right-of-use assets | ¥ 6,515 | ¥ 3,537 |
Interest expense (included in finance cost) | 1,097 | 300 |
Expense relating to short-term leases not included in lease liabilities (included in cost of revenues, selling and marketing expenses, administrative expenses and research and development expenses) | 3,837 | |
Total | 11,449 | 3,837 |
Office Building [Member] | ||
Disclosure Of Detailed Information About Leases Recognized In Comprehensive Income Statement [Line Items] | ||
Depreciation charge of right-of-use assets | 4,523 | ¥ 3,537 |
Charging Stations [Member] | ||
Disclosure Of Detailed Information About Leases Recognized In Comprehensive Income Statement [Line Items] | ||
Depreciation charge of right-of-use assets | ¥ 1,992 |
Leases - Summary of Cash Outflo
Leases - Summary of Cash Outflows in Financing Activity for Leases (Detail) ¥ in Thousands | 12 Months Ended |
Dec. 31, 2021 CNY (¥) | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |
Principal elements of lease payments | ¥ 1,881 |
Related interest paid | 193 |
Total | ¥ 2,074 |
Leases - Additional Information
Leases - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Leases [Abstract] | ||
Additions to right-of-use assets | ¥ 7,968 | ¥ 17,986 |
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16 | 6% | 6% |
Financial asset at fair value_3
Financial asset at fair value through profit or loss - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021 CNY (¥) | |
Company Engaging In EV Charging Hardware And Technology Industry [Member] | |
Disclosure of reconciliation of changes in fair value measurement assets | |
Purchase of Financial Asset At Fair Value Through Profit or Loss | ¥ 5,000,000 |
Financial assets at fair value through profit or loss, category | Equity investments [member] | |
Disclosure of reconciliation of changes in fair value measurement assets | |
Gains losses recognised in profit or loss including exchange differences, Fair value measurement, Assets | ¥ 0 |
Financial asset at fair value_4
Financial asset at fair value through profit or loss - Disclosure Of Financial Assets At Fair Value Through Profit Or Loss Explanatory (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Financial Assets At Fair Value Through Profit Or Loss [Line Items] | |||
Investment | ¥ 5,000 | ||
Equity investments [member] | |||
Disclosure Of Financial Assets At Fair Value Through Profit Or Loss [Line Items] | |||
Investment | [1] | ¥ 5,000 | ¥ 0 |
[1] Investment |
Financial asset at fair value_5
Financial asset at fair value through profit or loss - Disclosure Of Reconciliation Of Changes In Fair Value Measurement Assets Explanatory (Detail) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of reconciliation of changes in fair value measurement assets | |||
At the end of the year | ¥ 5,000,000 | ||
Equity investments [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets | |||
At the beginning of the year | [1] | 0 | |
At the end of the year | [1] | 5,000,000 | ¥ 0 |
Equity investments [member] | Financial assets at fair value through profit or loss, category | |||
Disclosure of reconciliation of changes in fair value measurement assets | |||
At the beginning of the year | 0 | 0 | |
Additions | 5,000,000 | 0 | |
At the end of the year | ¥ 5,000,000 | ¥ 0 | |
[1] Investment |
Property, plant and equipment -
Property, plant and equipment - Summary of detailed information about property, plant and equipment (Detail) ¥ in Thousands | 12 Months Ended |
Dec. 31, 2021 CNY (¥) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Ending Balance | ¥ 548 |
Electronic Equipment [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning Balance | 0 |
Additions | 606 |
Depreciation during the year | (58) |
Ending Balance | 548 |
Electronic Equipment [Member] | Gross carrying amount [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning Balance | 0 |
Ending Balance | 606 |
Electronic Equipment [Member] | Accumulated depreciation, amortisation and impairment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning Balance | 0 |
Ending Balance | ¥ (58) |
Other payables and accruals - S
Other payables and accruals - Schedule Of Other Payables And Accruals (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Other Current Payables And Accruals Current [Abstract] | ||
Other taxes payable | ¥ 58,180 | ¥ 24,415 |
Advances from platform users | 18,401 | 8,506 |
Employee benefit payables | 11,403 | 3,926 |
Accrued expenses | 10,508 | 1,038 |
Income tax payable | 6,791 | 1,474 |
Contract liabilities | 5,365 | 357 |
Deferred income | 1,345 | |
Others | 155 | 231 |
Total | ¥ 112,148 | ¥ 39,947 |
Other payables and accruals -_2
Other payables and accruals - Schedule Of Other Payables And Accruals (Parenthetical) (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | ¥ 5,365 | ¥ 357 |
Deferred income validity term | 6 months | |
VIP Membership and Coupon Sales | ||
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | ¥ 4,961 | 75 |
Customer Advances in Charging Piles Sales | ||
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | 50 | 201 |
Others | ||
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | ¥ 354 | ¥ 81 |
Combined capital and addition_3
Combined capital and additional paid in capital -Disclosure of changes in combined capital and additional paid in capital (Detail) | 12 Months Ended | ||||
Dec. 31, 2021 USD ($) shares | Dec. 31, 2021 CNY (¥) shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2020 CNY (¥) shares | ||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance | ¥ 14,558,000 | ¥ 24,073,000 | |||
Issuance of ordinary shares | [1] | 0 | |||
Contribution of a shareholder | 264,555,000 | 68,382,000 | |||
Ending balance | 29,439,000 | 14,558,000 | |||
Issued Capital [member] | |||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance | [1] | 0 | 0 | ||
Issuance of ordinary shares | [1] | 0 | |||
Ending balance | [1] | 0 | 0 | ||
Issued Capital [member] | Common Stock [Member] | |||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance | 3 | 1 | |||
Issuance of ordinary shares | 3 | ||||
Ending balance | 3 | 3 | |||
Additional paid-in capital [member] | |||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance | 147,986,000 | 79,604,000 | |||
Contribution of a shareholder | 264,555,000 | 68,382,000 | |||
Ending balance | 423,329,000 | 147,986,000 | |||
Additional paid-in capital [member] | Common Stock [Member] | |||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance | 147,986,000 | 79,604,000 | |||
Contribution of a shareholder | 275,343,000 | 68,382,000 | |||
Ending balance | 423,329,000 | 147,986,000 | |||
Issued Capital And Additional Paid in Capital | Common Stock [Member] | |||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance | 147,986,000 | 79,604,000 | |||
Contribution of a shareholder | 275,343,000 | 68,382,000 | |||
Ending balance | ¥ 423,329,000 | ¥ 147,986,000 | |||
Ordinary shares [member] | Issued Capital [member] | |||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | |||||
Beginning balance (in shares) | shares | 5,000 | 5,000 | 1,000 | 1,000 | |
Beginning balance | $ | $ 1 | $ 0 | |||
Issuance of ordinary shares | shares | 4,000 | 4,000 | |||
Issuance of ordinary shares | $ | $ 0 | ||||
Ending balance (in shares) | shares | 5,000 | 5,000 | 5,000 | 5,000 | |
Ending balance | $ | $ 1 | $ 1 | |||
[1] Representing amount less than RMB1,000. |
Combined capital and addition_4
Combined capital and additional paid in capital-Disclosure of changes in combined capital and additional paid in capital (Detail) ( Parenthetical) | 12 Months Ended | ||||||||
Dec. 31, 2020 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Jan. 01, 2020 USD ($) | Dec. 31, 2019 USD ($) | Dec. 31, 2019 CNY (¥) | ||
Disclosure of changes in combined capital and additional paid in capital | |||||||||
Equity | ¥ 29,439,000 | ¥ 14,558,000 | ¥ 24,073,000 | ||||||
Issue of equity | [1] | ¥ 0 | |||||||
Issued Capital [member] | |||||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||||
Equity | [1] | ¥ 0 | ¥ 0 | ¥ 0 | |||||
Issue of equity | [1] | 0 | |||||||
Issued Capital [member] | Ordinary shares [member] | |||||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||||
Equity | $ | $ 1 | $ 1 | $ 0 | ||||||
Issue of equity | $ | $ 0 | ||||||||
Top of range [member] | Issued Capital [member] | Ordinary shares [member] | |||||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||||
Equity | $ | $ 1 | ||||||||
Top of range [member] | Issued Capital And Additional Paid in Capital | |||||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||||
Issue of equity | ¥ 1,000 | ||||||||
[1] Representing amount less than RMB1,000. |
Combined capital and addition_5
Combined capital and additional paid in capital - Additional Information (Detail) - $ / shares | Jan. 13, 2022 | Nov. 19, 2020 | Jul. 31, 2019 | Dec. 31, 2021 |
Disclosure of changes in combined capital and additional paid in capital | ||||
Par value per share | $ 0.001 | $ 0.01 | ||
After Share Subdivision | ||||
Disclosure of changes in combined capital and additional paid in capital | ||||
Par value per share | $ 0.0001 | |||
Number of shares called by each existing issued and unissued share | 10 | |||
Ordinary shares [member] | ||||
Disclosure of changes in combined capital and additional paid in capital | ||||
Shares issued during period | 100 | |||
Ordinary shares [member] | After Share Subdivision | ||||
Disclosure of changes in combined capital and additional paid in capital | ||||
Shares issued during period | 1,000 | |||
Ordinary shares [member] | Newlink Technology Limited [Member] | ||||
Disclosure of changes in combined capital and additional paid in capital | ||||
Shares issued during period | 400 | |||
Ordinary shares [member] | Newlink Technology Limited [Member] | After Share Subdivision | ||||
Disclosure of changes in combined capital and additional paid in capital | ||||
Shares issued during period | 4,000 |
Revenues - Summary of Detailed
Revenues - Summary of Detailed Information about Revenue Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Revenue [Line Items] | ||
Revenues, net | ¥ 33,453 | ¥ 6,163 |
Online EV Charging Solutions | ||
Disclosure Of Detailed Information About Revenue [Line Items] | ||
Net Revenues | 17,985 | 5,455 |
Offline EV Charging Solutions | ||
Disclosure Of Detailed Information About Revenue [Line Items] | ||
Net Revenues | 15,102 | 565 |
Non-Charging Solutions and Other Services | ||
Disclosure Of Detailed Information About Revenue [Line Items] | ||
Net Revenues | ¥ 366 | ¥ 143 |
Other gains, net - Summary of D
Other gains, net - Summary of Detailed Information About Other Gains Losses Net Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Other Gains Losses Net [Abstract] | ||
Non-operating income | ¥ 138 | ¥ 319 |
Non-operating expenses | 0 | 0 |
Total | ¥ 138 | ¥ 319 |
Operating costs by nature - Sum
Operating costs by nature - Summary of Detailed Information about Operating Costs by Nature Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Operating Costs By Nature [Abstract] | ||
Incentives through network | ¥ 105,939 | ¥ 23,338 |
Employee benefit expenses | 112,102 | 40,402 |
Promotion and advertising | 16,675 | 5,132 |
Offline service costs | 7,965 | 0 |
Traveling, entertainment and general office expenses | 7,640 | 3,106 |
Auditor's remuneration | 7,066 | 0 |
Depreciation of right-of-use assets | 6,515 | 3,537 |
Bandwidth expenses and server custody costs | 4,331 | 2,760 |
Rental, facility and utilities | 4,277 | 669 |
Payment processing cost | 3,893 | 1,695 |
Online service costs | 1,250 | 6 |
Others | 9,985 | 1,960 |
Total operating costs | ¥ 287,638 | ¥ 82,605 |
Finance costs - Summary of Deta
Finance costs - Summary of Detailed Information About Finance Income Expense Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Finance Income Expense [Abstract] | ||
Interest expense from lease liabilities | ¥ (1,097) | ¥ (300) |
Finance costs | ¥ (1,097) | ¥ (300) |
Taxation - Summary of reconcili
Taxation - Summary of reconciliation of income tax (expenses)benefits (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | ||
Current income tax | ¥ 5,318 | ¥ 1,474 |
Deferred income tax | 0 | 0 |
Loss before income tax | (255,144) | (76,423) |
Tax calculated at statutory income tax rate of 25% in mainland China | (63,786) | (19,106) |
Tax Effects Of [Abstract] | ||
— Expenses not deductible for income tax purposes | 1,069 | 469 |
— Tax losses for which no deferred tax assets were recognized | 68,035 | 20,111 |
- Utilization of previously unrecognized tax losses | 0 | 0 |
Total | ¥ 5,318 | ¥ 1,474 |
Taxation - Disclosure of tax lo
Taxation - Disclosure of tax losses and carry forwards explanatory (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Tax Losses and Carry Forwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | ¥ 203,812 | ¥ 97,352 |
Tax Year 2023 [Member] | ||
Disclosure Of Tax Losses and Carry Forwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | 34 | 34 |
Tax Year 2024 [Member] | ||
Disclosure Of Tax Losses and Carry Forwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | 26,561 | 26,561 |
Tax Year 2025 [Member] | ||
Disclosure Of Tax Losses and Carry Forwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | 67,172 | 70,757 |
Tax Year 2026 [Member] | ||
Disclosure Of Tax Losses and Carry Forwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | ¥ 110,045 | ¥ 0 |
Taxation - Additional Informati
Taxation - Additional Information (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | ||||
Apr. 01, 2018 HKD ($) | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Deferred income tax liability | ¥ | ¥ 0 | ||||
Total unrecorded tax losses carry forwards | ¥ | ¥ 203,812 | ¥ 97,352 | |||
Bottom of range [member] | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Withholding tax | 5% | ||||
Top of range [member] | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Withholding tax | 10% | ||||
HONG KONG | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Applicable tax rate | 16.50% | ||||
provision for income tax | 0% | 0% | |||
Average effective tax rate | 0% | 0% | |||
HONG KONG | first HK$2 million | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Applicable tax rate | 8.25% | ||||
Assessable profits | $ | $ 2 | ||||
HONG KONG | excess of HK$2 million | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Applicable tax rate | 16.50% | ||||
Assessable profits | $ | $ 2 | ||||
PRC | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Average effective tax rate | 25% | 25% | |||
CHINA | |||||
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Average effective tax rate | 25% |
Loss per share - Earning per sh
Loss per share - Earning per share (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings per share [line items] | ||
Net loss attributable to equity holders of the Company | ¥ 260,462 | ¥ 77,897 |
Weighted average number of ordinary shares in issue | 141,973 | 1,470 |
Basic loss per share (RMB per share) | ¥ 1,835 | ¥ 52,991 |
Loss per share - (Additional In
Loss per share - (Additional Information) (Detail) | 12 Months Ended |
Dec. 31, 2021 shares | |
Earnings per share [abstract] | |
Weighted average number of ordinary shares used in calculating diluted earnings per share | 0 |
Cash flow information - Cash u
Cash flow information - Cash used in operation Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Cash used in operation Abstract [Abstract] | ||
Net Loss before income tax | ¥ (255,144) | ¥ (76,423) |
Adjustments for: | ||
Depreciation of property, plant and equipment | 58 | 0 |
Depreciation of right-of-use assets | 6,515 | 3,537 |
Credit loss allowances on financial asset | 3,205 | 135 |
Non-cash employee benefits expense-share based payments | 10,788 | 0 |
interest expense | 1,097 | 300 |
Increase in trade receivables | (33,632) | (4,824) |
Increase in prepayments, other receivables and other assets | (59,178) | (14,449) |
Increase in trade and other payables | 101,097 | 34,508 |
Increase in contract liabilities | 6,080 | 276 |
Cash used in operations | ¥ (219,114) | ¥ (56,940) |
Commitments - Summary of maturi
Commitments - Summary of maturity analysis of operating lease payments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted Operating Lease Payments To Be Paid | ¥ 5,645 | ¥ 0 |
Not later than one year [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Undiscounted Operating Lease Payments To Be Paid | ¥ 5,645 | ¥ 0 |
Contingencies - (Additional Inf
Contingencies - (Additional Information) (Details) - CNY (¥) | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of contingent liabilities [abstract] | ||
Loss contingencies damages sought value | ¥ 0 | ¥ 0 |
Related party transactions - (A
Related party transactions - (Additional Information) (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | ||
Contribution of a shareholder | ¥ 264,555 | ¥ 68,382 |
Share-based compensation | 10,788 | |
Additional paid-in capital | ||
Disclosure of transactions between related parties [line items] | ||
Contribution of a shareholder | 264,555 | 68,382 |
Share-based compensation | 10,788 | |
Newlink Technology Limited [Member] | Additional paid-in capital | ||
Disclosure of transactions between related parties [line items] | ||
Contribution of a shareholder | 264,600 | ¥ 68,700 |
Share-based compensation | ¥ 10,700 |
Related party transactions - Su
Related party transactions - Summary of transactions between related parties (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | ||
Short-term employee benefits | ¥ 2,692 | ¥ 1,056 |
Total | ¥ 2,692 | ¥ 1,056 |
Event occurring after the rep_2
Event occurring after the reporting period (Additional Information) (Detail) $ / shares in Units, ¥ in Thousands, $ in Millions | 1 Months Ended | ||||||||
Jan. 31, 2022 CNY (¥) shares | Jan. 26, 2022 CNY (¥) | Jan. 26, 2022 USD ($) $ / shares | Jan. 13, 2022 shares | Dec. 31, 2021 CNY (¥) | [2] | Dec. 31, 2020 CNY (¥) | [3] | ||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||
Total cash consideration | ¥ | [1] | ¥ 0 | ¥ 0 | ||||||
Series A Convertible Redeemable Preference Shares [Member] | Events after Reporting Period [Member] | |||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||
Number of shares issued | shares | 9,923,135 | ||||||||
Shares issued price per share | $ / shares | $ 8.8 | ||||||||
Total cash consideration | ¥ 556,400 | $ 87.3 | |||||||
Share issue related cost | ¥ | ¥ 8,600 | ||||||||
Ordinary shares [member] | Option Arrangement [Member] | Two Thousand And Twenty Two Share Incentive Plan [Member] | |||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||
Number of shares reserved for future issue | shares | 6,818,182 | ||||||||
[1] Representing amount less than RMB1,000. * Representing amount less than RMB1,000. * Representing amount less than RMB1,000. |