Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | F-1 |
Amendment Flag | false |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | NaaS Technology Inc. |
Entity Central Index Key | 0001712178 |
Entity Emerging Growth Company | false |
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 |
City Area Code | 86 |
Local Phone Number | (10) 8551-1066 |
Entity Primary SIC Number | 5990 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
CURRENT ASSETS | |||
Cash and cash equivalents | ¥ 513,351 | $ 74,429 | ¥ 8,489 |
Trade receivables | 130,004 | 18,849 | 38,456 |
Prepayments, other receivables and other assets | 287,435 | 41,674 | 105,833 |
Total current assets | 930,790 | 134,952 | 152,778 |
Non-current assets | |||
Right-of-use assets | 17,030 | 2,469 | 19,766 |
Financial assets at fair value through profit or loss | 11,753 | 1,704 | 5,000 |
Financial assets at fair value through other comprehensive income | 129,060 | 18,712 | |
Property, plant and equipment | 2,600 | 377 | 548 |
Intangible assets | 833 | 121 | |
Other non-current assets | 13,869 | 2,011 | |
Total non-current assets | 175,145 | 25,394 | 25,314 |
Total assets | 1,105,935 | 160,346 | 178,092 |
Current liabilities | |||
Interesting-bearing bank borrowings | 38,000 | 5,510 | |
Current lease liabilities | 6,853 | 993 | 7,067 |
Trade payables | 49,239 | 7,139 | 16,872 |
Other payables and accruals | 98,049 | 14,218 | 112,148 |
Total current liabilities | 192,141 | 27,860 | 136,087 |
Non-current liabilities | |||
Interest-bearing bank borrowings | 465,155 | 67,441 | |
Non-current lease liabilities | 9,327 | 1,352 | 12,566 |
Deferred tax liabilities | 438 | 64 | |
Total non-current liabilities | 474,920 | 68,857 | 12,566 |
Total liabilities | 667,061 | 96,717 | 148,653 |
EQUITY | |||
Share capital | 146,730 | 21,273 | |
Additional paid in capital | 6,358,600 | 921,910 | 423,329 |
Other reserves | (35,201) | (5,104) | |
Accumulated losses | (6,031,255) | (874,450) | (393,890) |
Total equity | 438,874 | 63,629 | 29,439 |
Total equity and liabilities | ¥ 1,105,935 | $ 160,346 | ¥ 178,092 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) ¥ in Thousands | Dec. 31, 2022 CNY (¥) |
Statement Of Financial Position [Line Items] | |
Value Denotes Less Thousand | ¥ 1,000 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Other Comprehensive Loss ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) ¥ / shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 CNY (¥) ¥ / shares | Dec. 31, 2020 CNY (¥) ¥ / shares | |
Statements [Line Items] | ||||
Net Revenues | ¥ 92,814 | $ 13,457 | ¥ 33,453 | ¥ 6,163 |
Other gains, net | 7,317 | 1,061 | 138 | 319 |
Operating costs and expenses | ||||
Cost of revenues | (86,647) | (12,563) | (29,587) | (6,547) |
Selling and marketing expenses | (241,430) | (35,004) | (193,340) | (46,458) |
Administrative expenses | (2,195,981) | (318,388) | (34,458) | (11,956) |
Research and development expenses | (36,557) | (5,300) | (30,253) | (17,644) |
Total operating costs and expenses | (2,560,615) | (371,255) | (287,638) | (82,605) |
Operating loss | (2,460,484) | (356,737) | (254,047) | (76,123) |
Fair value changes of convertible and redeemable preferred shares | (3,158,498) | (457,939) | ||
Fair value changes of financial assets at fair value through profit or loss | 1,753 | 254 | ||
Finance costs | (10,275) | (1,490) | (1,097) | (300) |
Loss before income tax | (5,627,504) | (815,912) | (255,144) | (76,423) |
Income tax expenses | (9,861) | (1,430) | (5,318) | (1,474) |
Net loss for the year | (5,637,365) | (817,342) | (260,462) | (77,897) |
Net loss attributable to: | ||||
Equity holders of the Company | (5,637,365) | (817,342) | (260,462) | (77,897) |
Net loss for the year | ¥ (5,637,365) | $ (817,342) | ¥ (260,462) | ¥ (77,897) |
Other comprehensive loss that will not be reclassified to profit or loss in subsequent periods: | ||||
Basic loss per share | (per share) | ¥ (2.92) | $ (0.42) | ¥ (0.16) | ¥ (0.05) |
Diluted loss per share | (per share) | ¥ (2.92) | $ (0.42) | ¥ (0.16) | ¥ (0.05) |
Net loss for the year | ¥ (5,637,365) | $ (817,342) | ¥ (260,462) | ¥ (77,897) |
– Fair value change on equity investment designated at fair value through other comprehensive loss, net of tax | (10,143) | (1,471) | ||
– Currency translation differences | (25,058) | (3,633) | ||
Other comprehensive loss for the year, net of tax | (35,201) | (5,104) | ||
Total comprehensive loss for the year | (5,672,566) | (822,446) | (260,462) | (77,897) |
Total comprehensive loss attributable to: | ||||
Equity holders of the Company | (5,672,566) | (822,446) | (260,462) | (77,897) |
Total comprehensive loss for the year | (5,672,566) | (822,446) | (260,462) | (77,897) |
Online EV Charging Solutions | ||||
Statements [Line Items] | ||||
Revenue from rendering of services | 50,151 | 7,271 | 17,985 | 5,455 |
Offline EV Charging Solutions | ||||
Statements [Line Items] | ||||
Revenue from rendering of services | 40,554 | 5,880 | 14,611 | 565 |
Innovative and Other Businesses | ||||
Statements [Line Items] | ||||
Revenue from rendering of services | ¥ 2,109 | $ 306 | ¥ 857 | ¥ 143 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) | Combined capital CNY (¥) | Additional paid- in capital CNY (¥) | Other reserves CNY (¥) | Accumulated losses CNY (¥) |
Beginning balance at Dec. 31, 2019 | ¥ 24,073 | ¥ 0 | ¥ 79,604 | ¥ (55,531) | ||
Comprehensive loss | ||||||
Net loss for the year | (77,897) | (77,897) | ||||
Total comprehensive loss for the year | (77,897) | (77,897) | ||||
Transactions with equity holders: | ||||||
Contribution from a controlling shareholder | 68,382 | 68,382 | ||||
Ending balance at Dec. 31, 2020 | 14,558 | 0 | 147,986 | 0 | (133,428) | |
Comprehensive loss | ||||||
Net loss for the year | (260,462) | (260,462) | ||||
Total comprehensive loss for the year | (260,462) | (260,462) | ||||
Transactions with equity holders: | ||||||
Contribution from a controlling shareholder | 264,555 | 0 | 264,555 | |||
Share-based compensation from controlling shareholder ESOP | 10,788 | 10,788 | ||||
Ending balance at Dec. 31, 2021 | 29,439 | 423,329 | (393,890) | |||
Comprehensive loss | ||||||
Net loss for the year | (5,637,365) | $ (817,342) | 0 | (5,637,365) | ||
Other comprehensive loss | (35,201) | (5,104) | (35,201) | 0 | ||
Fair value change on equity investment designated at fair value through other comprehensive loss, net of tax | (10,143) | (10,143) | 0 | |||
Currency translation differences | (25,058) | (25,058) | 0 | |||
Total comprehensive loss for the year | (5,672,566) | (822,446) | 0 | (35,201) | (5,637,365) | |
Transactions with equity holders: | ||||||
Subdivision of shares | 0 | 110,375 | (110,375) | |||
Issuance of share capital | 3,943,584 | 25,910 | 3,917,674 | |||
Deemed issuance of shares upon the Merger transaction | 1,891,984 | 10,226 | 1,881,758 | |||
Exercise of option | 5,422 | 219 | 5,203 | |||
Contribution from a controlling shareholder | 27,179 | 27,179 | ||||
Share-based payments from the controlling shareholder | 195,669 | 195,669 | ||||
Share-based compensation from controlling shareholder ESOP | 18,163 | 18,163 | ||||
Ending balance at Dec. 31, 2022 | ¥ 438,874 | $ 63,629 | ¥ 146,730 | ¥ 6,358,600 | ¥ (35,201) | ¥ (6,031,255) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Cash flows from operating activities | ||||
Cash used in operations | ¥ (585,522) | $ (84,893) | ¥ (219,114) | ¥ (56,940) |
Interest received | 4,826 | 700 | ||
Net cash used in operating activities | (580,696) | (84,193) | (219,114) | (56,940) |
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (17,132) | (2,483) | (606) | |
Purchase of financial assets at fair value through profit or loss | (5,000) | (725) | (5,000) | |
Purchase of financial assets at fair value through other comprehensive income | (139,203) | (20,183) | ||
Net cash flows used in investing activities | (161,335) | (23,391) | (5,606) | |
Cash flows from financing activities | ||||
Borrowings from banks | 503,155 | 72,951 | ||
Interests paid | (9,537) | (1,383) | (193) | |
Payments of principal portion of lease liabilities | (6,834) | (991) | (1,881) | |
Proceeds from issuance of ordinary shares | 212,377 | 30,792 | ||
Proceeds from issuance of convertible redeemable preferred shares | 556,356 | 80,663 | ||
Expense for issuance of preferred shares | (8,624) | (1,250) | ||
Contribution from a shareholder | 231,618 | 58,481 | ||
Net cash flows generated from financing activities | 1,246,893 | 180,782 | 229,544 | 58,481 |
Net increase in cash and cash equivalents | 504,862 | 73,198 | 4,824 | 1,541 |
Cash and cash equivalents at the beginning of the year | 8,489 | 1,231 | 3,665 | 2,124 |
Cash and cash equivalents at the end of the year | ¥ 513,351 | $ 74,429 | ¥ 8,489 | ¥ 3,665 |
Corporate information
Corporate information | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Corporate information | 1. Corporate information 1.1. General information NaaS Technology Inc. (the “Company”) was incorporated in the Cayman Islands on July 16, 2013 as an exempted company with limited liability. The Company is a holding company. The immediate and ultimate holding company of the Company is Newlinks Technology Limited (“NewLink”) which owns s On June 10, 2022, RISE Education Cayman Ltd (“RISE”), the Company’s predecessor, completed the merger and other related transactions (the “Merger Transactions”) with Dada Auto (“Dada”), The “Group” means (i) prior to the completion of the Reorganization, subsidiaries and VIEs of New L The consolidated financial statements of the Group for the year ended December 31, 2022 were authorized for issue in accordance with a resolution of the directors on May 1, 2023. 1.2. 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, which were established by Chezhubang Technology in July 2018 and August 2019, respectively. Chezhubang Technology was controlled by New L In July 2019, Dada was established in the Cayman Islands as a 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 Hill Limited 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 Co., Ltd 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 a 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. Kuaidian Power Beijing entered into a VIE arrangement with Anji Zhidian from January 5, 2022 to April 5, 2022, as a result of which (i) Kuaidian Power Beijing initially became a VIE of Dada Auto, and (ii) Dada Auto became entitled to receive substantially all of the economic benefits generated by Kuaidian Power Beijing as primary beneficiary and was responsible for any and all economic losses Kuaidian Power Beijing incurred. In April 6, 2022, Anji Zhidian acquired 100% of the equity interests in Kuaidian Power Beijing as part of the Reorganization. 1.3. Reverse merger On February 8, 2022, Dada entered into the Merger Agreement among RISE, Dada Merger Sub Limited, a wholly-owned subsidiary of RISE (“Merger Sub”), Dada Merger Sub II Limited, a wholly-owned subsidiary of RISE (“Merger Sub II”). Pursuant to the Merger Agreement, Merger Sub will merge with Dada, with Dada being the surviving company (the “Surviving Company”) and a wholly-owned subsidiary of RISE (the “Merger”), and Data will merge with and into Merger Sub II, with Merger Sub II as the surviving company and a wholly-owned subsidiary of RISE immediately following the consummation of the Merger. RISE was a public shell company prior to the Merger. As of June 10, 2022, the Merger was completed and the ed L a and L As RISE, the legal acquirer and accounting acquiree, does not meet the definition of a business, management concluded that the Merger should be accounted for as a continuation of the financial statements of Dada (the legal subsidiary), together with a deemed issue of shares and a re-capitalization of the equity of Dada in accordance with IFRS 2 Share-based Payment. Dada is the continuing entity and is deemed to have issued shares in exchange for the identifiable net assets held by RISE together with the listing status of RISE. Management concluded that June 10, 2022 is the acquisition date of the Merger. The purchase consideration of RMB1,892 million is the fair value of the deemed issued shares to the original shareholders of RISE totaling shares, including the shares reserved for the exercisable options under RISE ESOP plans. The difference between the fair value of the shares deemed to have been issued by Dada to the original shareholders of Rise and the RMB21 million fair value of the RISE’s identifiable net liabilities equaling RMB million is accounted as listing costs, and included in general and administrate expense on the consolidated statements of loss and other comprehensive loss for the year ended December 31, 2022. 1. 4 Subsidiaries The Company’s major subsidiaries as at December 31, 2021 and 2022 are set out below. The country of incorporation or registration is also their principal place of business. Name of entity Place of incorporation and Date of incorporation/ establishment Ownership interest held by the Group Principal activities 2022 2021 Kuaidian Power Beijing Beijing, China Limited liability company August 20, 2019 100% 100% Online EV charging solutions, innovative and other businesses Beijing Chezhubang Beijing, China Limited liability company July 18, 2018 100% 100% Online EV charging solutions Zhidian Youtong Shandong, China Limited liability company September 27, 2020 100% 100% Offline EV charging solutions Anji Zhidian Zhejiang, China Limited liability company December 24, 2021 100% 100% Online EV charging Solutions Qingdao Intelligent Electronics Qingdao, China Limited liability company June 9, 2022 100% 100% Offline EV charging Solutions QHM New Energy Shandong, China Limited liability company April 26, 2021 100% 100% Offline EV charging solutions Cosmo Light Beijing, China Limited liability company February 22, 2021 100% 100% Online EV charging solutions |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of significant accounting policies | 2. Summary of significant accounting policies The principal accounting policies applied in the preparation o f these conso 2.1. Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards(“IFRSs”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements of the Group have been prepared on a historical cost basis, except for equity financial assets and convertible redeemable preferred shares that have been measured at fair value. All amounts disclosed in the consolidated financial statements are rounded to the nearest thousand unless otherwise indicated. The consolidated financial statements are prepared on a going concern basis. See Note 2.2 for details. The preparation of the consolidated 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 consolidated financial statements are disclosed in Note 4. As disclosed in “1.2. History and reorganization of the Group”, the Reorganization was completed in April, 2022. Through the Reorganization, the Company became the holding company of the companies now comprising the Group. Accordingly, for the purpose of preparation of the consolidated financial statements of the Group, the Company is considered as the holding company of the companies now comprising the Group throughout the years ended December 31, 2020, 2021 and 2022. Through the Reorganization, the Company became the holding company of the contributed businesses now comprising the Group, which were under the common control of the controlling shareholder before and after the Reorganization. Accordingly, the financial statements were prepared on a consolidated basis by applying the principles of the pooling of interest method as if the Reorganization had been completed at the date when contributed business first came under the control of the controlling party. The consolidated statements of loss and other comprehensive income, changes in equity and cash flows of the Group included the results and cash flows of all companies now comprising the Group from the earliest date presented or since the date when the subsidiaries and/or businesses first came under the common control of the controlling shareholder, whenever the period is shorter. 2.1.1. New and amended standards adopted by the Group (a) Amendments to the accounting standards adopted The Group has applied the following amendments for the first time for their annual reporting period commencing January 1, 2022: • Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 • Onerous Contracts – Cost of Fulfilling a Contract – Amendments to IAS 37 • Annual Improvements to IFRS Standards 2018-2020, and • Reference to the Conceptual Framework – Amendments to IFRS 3. The amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. (b) New standards and interpretations not yet adopted New standards, amendments to sta Standards and amendments Effective for annual periods beginning on or after IFRS 17 Insurance Contracts January 1, 2023 Non-current Liabilities with Covenants—Amendments to IAS 1 January 1, 2024 Classification of Liabilities as Current or Non-current—Amendments to IAS 1 January 1, 2024 Disclosure of Accounting Policies—Amendments to IAS 1 and IFRS Practice Statement 2 January 1, 2023 Definition of Accounting Estimates—Amendments to IAS 8 January 1, 2023 Deferred Tax related to Assets and Liabilities arising from a Single Transaction—Amendments to IAS 12 January 1, 2023 Sale or contribution of assets between an investor and its associate or joint venture—Amendments to IFRS 10 and IAS 28 To be determined These new standards, amendments or interpretations are not expected to have a material impact on the Group’s consolidated financial statements in the current or future reporting periods and on foreseeable future transactions. 2.2. Going concern basis The Group incurred net losses for the years ended December 31, 2021 and 2022, respectively and net In January 2022, the Group issued convertible redeemable preferred shares for a total cash consideration of million. In December 2022, the Group issued Class A ordinary shares to an institution investor, for a total purchase price of million. The Group also obtained bank borrowings amounting to million to cover the working capital in online EV charging solutions and hardware procurement business. The Group expects that its existing cash and cash equivalents and unused banking facilities 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 the consolidated financial statements. In addition, the Group has received a financial support guarantee from its parent NewLink Group. 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 costs and expenses, generating operational cash flows as well as continuing to gain support from outside sources of financing. Based on the above considerations, the Group believes that funds from equity financing and banking facilities will be sufficient to meet the cash requirements to fund planned operations and other commitments for at least twelve months from the date of issuance of the consolidated financial statements. Therefore, the Group’s consolidated 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. 2.3. Subsidiaries and non-controlling 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. Inter-company Non-controlling non-controlling 2.4. 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, 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. 2.5. Foreign currency translation (a) Functional and presentation currency Items included in the financial statements 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 U.S. dollars (“USD”). The functional currency of subsidiaries in the Group incorporated in the PRC is Renminbi (“RMB”). The Group presents its consolidated financial statements in RMB, unless otherwise stated. (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in profit or loss. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. (c) Group companies The results and financial position of foreign operations (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 the end of the reporting period. (ii) income and expenses for each statement of loss and other comprehensive loss are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the 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 recognized in other comprehensive loss. During the year ended December 31, 2021, there were no translation difference recognized for there was no overseas transactions led to translation differences. During the year ended December 31, 2022, such difference recognized was RMB25.1 million (US$ 3.6 million ). 2.6. Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation and accumulated impairment losses (if any). Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized 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 any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred. Depreciation is calculated using the straight-line method to allocate the cost of the assets, net of their residual values, over their estimated useful lives, as follows: – Electronic equipment 5 years – Furniture and office equipment 3 years The asset’s residual values and useful lives are reviewed, and adjusted if 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 included in profit or loss. During the years ended December 31, 2021 and 2022, no such disposals occurred. 2.7. Intangible assets Acquired computer software is stated at historical cost less accumulated amortization and accumulated impairment losses (if any). Historical cost includes expenditure that is directly attributable to the acquisition of the items. Costs associated with maintaining software programs are expensed as incurred. The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods: – Computer software 5 years 2.8. 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 (“OCI”) or through profit or loss), and • those to be measured at amortized 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 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 recognized on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. (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 t o be recogni Changes in the fair value of financial assets at FVPL are recognized in the consolidated statements of loss and other comprehensive 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. The impairment methodology applied depends on whether there has been a significant increase in credit risk. 2.9. 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 trade receivables are from hardware procurement business and 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 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 6 for further information about trade receivables and Note 3.1 for a description of the Group’s financial risk. For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Impairment on other receivables is measured as either 12-month 2.10. Cash an d c For the purpose of presentation in the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, cash at bank and deposits held at licensed payment platforms with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. 2.11. Sha r 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. 2.12. Trade and other payables Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the 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 recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method. 2.13. Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as a prepayment for liquidity services and amortized over the period of the facility to which it relates. Borrowings are removed from the consolidated statement of financial position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any noncash assets transferred or liabilities assumed, is recognized in profit or loss as other income or finance costs. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. 2.14. Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings, pending their expenditure on qualifying assets, is deducted from the borrowing costs eligible for capitalization. Other borrowing costs are expensed in the period in which they are incurred. 2.15. Current and deferred in c 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. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively. (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 Group 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 provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, 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 and does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period 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 and losses 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. 2.16. Em plo (a) Short-term obligations Liabilities for wages and salaries, including non-monetary (b) Post-employment obligations The Group participated 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 recognized as employee benefit expenses when they are due. (c) Housing funds, medical insurance and other social insurance Employees of the Group in the PRC are entitled to participate in various government-supervised housing funds, medical insurance and other social insurance 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 during each year. Contributions to the housing funds, medical insurance and other social insurance are expensed when they are due. (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. 2.17. 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 recognizes 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: (a) provides all of the benefits received and consumed simultaneously by the customer; (b) creates and enhances an asset that the customer controls as the Group performs; or (c) 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. 2.17.1. 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 obligation for the Group is to display the charging stations and chargers on the platform and provide such information for end-users who visit the platform. The end-users select a charging station/chargers on the platform and drive to the charging station/charging plies to charger their EV. 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 Company entered into master agreements with charging station operators where the Company is entitled to share a fixed percentage of the EV charging service fee for each EV charging order that is placed through Kuaidian platform, ie., the commission income. The commission income is recognised upon the completion of each order when the service is provided. The Company may, from time to time, provide incentives to end-users at its own discretion, which are treated as payables to customers and when there is no distinct goods or service received from end-users, such incentives are treated as reduction to revenue. See 2.17.3 for more details. After the Kuaidian platform 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; end-users, end-users end-users. The Group pays to the charging station operators in advance before the delivery of service and records it as prepayment as the amount paid could be returned to the Group. In some cases, the Group may settle the outstanding balance subsequent to the transaction and the balance owed to operators is recorded as a payable. In addition, 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 SaaS revenue is not material for the periods presented. 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 relating to the material right at the later of: (i) when the underlying benefit is redeemed by the customer for online EV charging solution services or (ii) when the benefit is expired. All incentives provided to the VIP members from the usage of cash coupons and incremental discounts are consideration payable to the customer, which is netted against both the online EV charging solutions revenue and membership revenue with the resulting negative revenue from each transaction, if any, being reclassified to selling and marketing expenses. 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 . 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 for the Offline EV charging services as the Group controls the EV charging service prior to transfer to the customer. The Group is primarily responsible for providing the EV charging service to the EV drivers and also 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 recognized as revenue on a gross basis when the services are rendered. The Group considers itself as an agent for the hardware procurement as the Group does not control hardware during the transaction. Therefore, revenues from such services are recognized on a net basis. Innovative and Other Businesses 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. 2.17.2. 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 a 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 balances of VIP membership, coupon package sales and advances from hardware customers. The balances of contract liability as of December 31, 2021 and 2022 were RMB5.4 million and RMB 29.4 2.17.3 Incentives The Group offers discounts and promotions to end-users end-users end-users 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 |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2022 | |
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Financial risk management | 3. Financial risk management and supplier concentration risk 3.1. 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 future commercial transactions and recognized assets and liabilities denominated in a currency other than the functional currency of the relevant group entities. 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 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 denominated in the currencies other than the respective functional currencies of the Group’s entities. (ii) Interest rate risk The Group’s exposure to the risk of changes in market interest rates relates primarily to the Group’s long-term debt obligations with floating interest rates. As at 31 December 2022, the Group’s bank borrowings amounting to RMB503.2 million (2021: nil) were at variable interest rates. As at 31 December 2022, if the interest rates on the Group’s borrowings had been 100 basis points higher/lower with all other variables held constant, loss before income tax would have been RMB2.0 million higher/lower (2021: nil), as a result of higher/lower interest expense. (iii) Equity price risk The Group’s listed equity investments are susceptible to market price risk arising from uncertainties about future values of the investment securities. As at December 31, 2022, the Group’s exposure to a listed equity investment at FVOCI was RMB129.1 million (2021: nil). If the stock price of the listed company increase/decrease 10%, loss before income tax would have decreased/increased by RMB12.9 million as at December 31, 2022 (2021: nil). (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 (RMB556.4 million ), and through bank borrowings. See Note 2.2 for details related to going concern basis. The table below analyses the Group’s non-derivative Less than 1 year Between 1 and 2 years Between 2 and 5 years Total Carrying amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At December 31, 2021 Trade payables 16,872 — — 16,872 16,872 Financial liabilities including in other payables and accruals 10,663 — — 10,663 10,663 Lease liabilities 8,294 6,205 7,204 21,703 19,633 35,829 6,205 7,204 49,238 47,168 At December 31, 2022 Trade payables 49,239 — — 49,239 49,239 Financial liabilities including in other payables and accruals 21,282 — — 21,282 21,282 Bank borrowings 39,440 21,350 495,235 556,025 503,155 Lease liabilities 7,522 5,751 4,004 17,277 16,180 117,483 27,101 499,239 643,823 589,856 (c) Credit risk Credit risk arises from cash and cash equivalents, trade receivables 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 in conjunction with business team are responsible for managing and analyzing 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 considering 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 trade receivables, an impairment analysis is performed at each financial position date using a provision matrix to measure expected credit losses under the simplified approach. The provision rates are based on aging for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome and reasonable and supportable information that is available at the financial position date about past events, current conditions and forecasts of future economic conditions. Information based on the provision matrix is disclosed in note 6. (d) Supplier concentration risk After the completion of transfer of Kuaidian platform, the related user data and charging station/pile data from the Company to Anji Datacom to address the cybersecurity risk with the promulgation of Cybersecurity Review Measures in 2022 on March 31, 2023, the Company entered into business cooperation agreement with Anji Datacom to receive IT data management services, including the collection, storage, processing and use of the data collected through the Kuaidian platform as well as transaction reconciliation and information verification services in relation to the delivery of EV charging solutions for an initial term of five years until March 30, 2027. The contract will be renewed for one year after the initial 5 years if both parties reach an agreement. For the IT data management services, an agreed annual fee is expected to be charged by Anji Datacom for the following five years, subject to an adjustment mechanism. Purchases of services from Anji Datacom accounted for 33% of cost of sales for the year ended December 31, 2022. A significant interruption by Anji Datacom in the delivery of IT data management services could impair the Company’s ability to deliver EV charging solutions and could materially adversely impact its consolidated statements of loss and other comprehensive loss and consolidated statements of financial position. 3.2. 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 preferred shares, for a total cash consideration of RMB million. The Group’s capital management ensures the Group meets financial covenants attached to the interest-bearing loans that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans. There have been no breaches of the financial covenants of any interest-bearing loans and borrowing in the current period. This section sets out an analysis of current ratio and liabilities to ratio As of December 31 2021 2022 RMB’000 RMB’000 Total current assets 152,778 930,790 Total current liabilities 136,087 192,141 Total assets 178,092 1,105,935 Total liabilities 148,653 667,061 Current Ratio 1.12 4.84 Liabilities to assets ratio 0.83 0.60 3.3. 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 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 At December 31, 2022 Financial assets at fair value through profit or loss — — 11,753 11,753 Financial assets at fair value through other comprehensive income 129,060 — — 129,060 Total 129,060 — 11,753 140,813 (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 • The discounted cash flow model and unobservable inputs mainly including assumptions of expected future cash flows and discount rate • The latest round of 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 includes long-term investments measured at FVTPL Details of movements in the level 3 financial instruments are set out in Note 1 1 The following table summarizes the quantitative information about the significant unobservable inputs used in recurring level 3 fair value measurements. Fair values as of December 31, Change of inputs at December 31, 2021 2022 Description RMB’000 RMB’000 Unobservable inputs 2021 2022 Relationship of unobservable inputs to fair value Investments in unlisted company 5,000 6,753 Expected volatility 51 % 52 % The higher the expected Discount for lack of marketability (“DLOM”) 19 % 20 % The higher the DLOM, the lower the fair value Investments in unlisted company — 5,000 Expected volatility — 65 % The higher the expected Discount for lack of marketability (“DLOM”) — 27 % The higher the DLOM, the lower the fair value The carrying amounts of the Group’s financial assets not carried at fair values, including cash and cash equivalents, trade receivables, other receivables, and the Group’s financial liabilities not carried at fair values, including trade payables, other payables and accruals, approximate their fair values due to their short maturities or the interest rates being close to the market interest rates. |
Significant accounting judgment
Significant accounting judgments, estimates and assumptions | 12 Months Ended |
Dec. 31, 2022 | |
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Significant accounting judgments, estimates and assumptions | 4. Significant accounting judgments, estimates and assumptions 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 Group 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 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. Refer to Note 2.17 for details. Determining the transaction price allocated to each performance obligation based on its standalone selling price requires judgement and consideration of all relevant facts and circumstance. In the evaluation of standalone selling price, the Group considers the applicable market conditions and relevant Group-specific factors, including factors that were contemplated in membership agreement with the customer and the estimated costs for specified number of cash coupons and incremental discounts. The Group determined that it is appropriate based on its specific facts and circumstances to record net losses generated from its online EV charging orders with net negative revenues in selling and marketing expenses on a transaction by transaction basis. The Group considered the substance of negative revenue arising from incentives to end-users as marketing related expenses paid to end-users, the purpose of which is to encourage user engagement, expand user base on its EV charging business, as well as eventually increasing the commission revenue generated from its EV charging business. These loss orders did not relate to past contracts nor future contracts and were accounted for as a separate unit of account. The excess incentive amount that was reclassified to selling expenses amounted Determining whether the Group is acting as a principal or as an agent when a 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 including, but not limited to the following: whether the Group (a) is primarily responsible for fulfilling the contract, (b) is subject to inventory risk, and (c) has discretion in establishing prices. Refer to Note 2.17 for details. (b) Share-based payments Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option or appreciation right, volatility and dividend yield and making assumptions about them. For the measurement of the fair value of equity-settled transactions at the grant date, the Group uses binomial model and Monte-Carlo simulation model for the valuation. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed in Note 23. In 2022, the Group granted shares options to two directors under the Dada Incentive Plan with market conditions which will become vested in two equal instalments each if the targeted market capitalisations of the Company are achieved for a pre-agreed trading period. The fair value of the options granted with market condition was determined using the Monte Carlo Simulation approach. For options with variable vesting periods due to market conditions, a best estimate of the most likely vesting period will have been used in determining the fair value of the transaction at the date of grant. IFRS 2 requires that the related compensation costs will be recognized during the estimated expected vesting period without any subsequent revision. Where the market condition is achieved before the end of expected vesting period, the remaining compensation costs related to market condition will be recognized at the achievement date. The independent appraisers estimated that the targeted market capitalisation will be achieved within 9.13 years and 9.53 years, respectively. (c) Estimation of recoverability of uncollected input VAT receipts The Group determines the 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 of 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 the tax laws, 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 laws. (e) Business contracts with Anji Datacom In February 2022, Kuaidian Beijing Power, one of the Group’s wholly owned subsidiary, entered into an asset transfer agreement with Zhejiang Anjijiayu Big Data Technology Service Co., Ltd. (“Anji Datacom”), an independence third party, where by Kuaidian Power Beijing agreed to sell certain assets to Anji Datacom. These assets include platform mobile application and mini-program (“Kuaidian Platform”) which connect EV users with charging station operators and chargers, user account and information and historical transaction data, IT systems, and IT workforce. The transfer was completed on March 31, 2022. On March 31, 2022, Anji Zhidian, a wholly owned subsidiary, entered into a series of contracts (“Business Cooperative Agreements”) with Anji Datacom, through which, Zhejiang Zhidian continues to connect operators to the platform via the data management and platform hosting service provided by Anji Datacom, Anji Datacom is responsible for provision of data management and technical services to Anji Zhidian in exchange for a service. The asset transfer constituted a business because the transaction included inputs (Kuaidian Platform, user data and etc.) and processes (the established IT processes). The asset transfer resulted in a net gain of million. The asset transfer transaction did not constitute a discontinued operation in accordance with IFRS 5, Non-current-assets held-for-sale and discontinued operations because the asset transfer did not constitute a major line of business, and the Group continued to carry out the online charging service solution business subsequent to the asset transfer through the series of Business Cooperative Agreements with Anji Datacom. The Group does not control Anji Datacom under IFRS 10, Consolidated financial statement as it does not have power over Anji Datacom and does not obtain or generate variable returns by involving in relevant activities in Anji Datacom. The Group does not have existing rights, including voting rights, rights to appoint or remove shareholders or officers, veto or other substantive rights, over Anji Datacom. Anji Datacom’s third-party shareholder has substantive voting rights and its shareholder and management make their own independence decisions, including but not limited to approving budgets, and appointing and renumerating its management and employees. Further, Anji Datacom is not a structured entity as it is not restricted to carry out its relevant activities, and it has substantive voting rights and decision-making rights as principal of its relevant activities. Determining whether the Group has control over Anji Datacom requires judgement and consideration of all relevant contractual arrangements, existing rights, business substance and facts and circumstances specific to Anji Datacom. In assessing control over Anji Datacom, the Group first obtains an understanding of the purpose and design of Anji Datacom, it then determines whether it has power to direct Anji Datacom’s relevant activities, is exposed to variable returns from its involvement with Anji Datacom, and has the ability to use its power to affect Anji Datacom’s returns from its involvement with Anji Datacom. (f) Measurement of ECL for trade receivables A number of significant judgements are required in applying the accounting requirements for measuring ECL, such as: • Determining the segmentation of debtor groups, • Selecting appropriate models and assumptions for the measurement of ECL, and • Establishing the relative probability weightings of forward-looking factors . Impairment assessment under ECL for trade receivables. The Group uses a provision matrix to calculate ECL for trade receivables. The provision rates are based on aging for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome 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 are considered. In addition, trade receivable with significant balances and credit impairment are assessed for ECL individually. The provision of ECL is sensitive to changes in estimates. The information about the ECL is disclosed in Note 6. (i) 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 forward-looking factors and through the use of probability weighted outcomes. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2022 | |
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Cash and cash equivalents | 5. Cash and cash equivalents As of December 31, 2021 2022 RMB’000 RMB’000 Cash at bank 3,734 512,453 Deposits held at licensed payment platforms 4,755 898 Total 8,489 513,351 |
Trade receivables
Trade receivables | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Trade receivables | 6. Trade receivables As of December 31, 2021 2022 RMB’000 RMB’000 Trade receivables 40,926 152,256 Provision on impairment (2,470 ) (22,252) Total 38,456 130,004 The following is an aging 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, 2021 2022 RMB’000 RMB’000 0 – 90 days 16,472 124,736 91 – 180 days 16,292 1,029 181 – 365 days 5,473 10,480 1 – 2 years 2,689 14,852 2 – 3 years — 1,159 Total 40,926 152,256 The Group uses a provision matrix to calculate ECL for trade receivables that result from transactions within the scope of IFRS 15. The provision rates are based on customer’s aging as groupings for 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, supportable and available without undue costs and effort. The provision on impairment was RMB19.8 million and RMB2.5 million, respectively, in 2022 and 2021. The movement in the loss allowance for trade receivables during the years indicated are as follows: As of December 31, 2021 2022 RMB’000 RMB’000 Beginning of the year — 2,470 Provision for expected credit loss, net 2,470 19,782 End of the year 2,470 22,252 The impairment as of December 31, 2021 and 2022 was determined as follows: Within 1 1-2 2-3 Over 3 As of December 31, 2021: Expected credit loss rate 4% 11% — — Gross carrying amount (RMB’000) 38,237 2,124 — — Impairment allowances (RMB’000) 1,666 239 — — As of December 31, 2022: Expected credit loss rate 6% 12% 84% — Gross carrying amount ( RMB’000 133,353 5,903 272 — Impairment allowances ( RMB’000 8,595 701 228 — Other than above impairment calculated by provision matrix, as of December 31, 2022 and 2021, impairment allowances was fully made for specific trade receivables with gross amount of RMB12.7 million and RMB0.6 million which were considered to be in default due to conditions which indicated that the Group was unlikely to receive the outstanding contractual amounts. |
Prepayments, other receivables
Prepayments, other receivables and other assets | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Prepayments, other receivables and other assets | 7. Prepayments, other receivables and other assets The detail information of prepayments, other receivables and other assets for the years ended December 31, 2021 and 2022 is as below: As of December 31, 2021 2022 RMB’000 RMB’000 Prepayments to charging stations 31,791 222,276 Prepayments for chargers procurement 5,106 35,519 Prepayment for rental facility and utilities 5,615 3,166 Prepayments for miscellaneous 2,146 1,583 Value-added tax deductible 32,367 2,628 Others 34,098 30,369 Receivables from related parties 556 — Credit loss allowance on other receivables (5,162 ) (6,340 ) Impairment on prepayment (684 ) (1,766 ) Total 105,833 287,435 The credit quality of the financial assets included in prepayments, other receivables and other assets is considered to be “normal” when they are not past due and there is information indicating that the financial assets had a significant increase in credit risk since initial recognition. Otherwise, the credit quality of the financial assets is considered to be “doubtful”. Exp ec During the year ended December 31, 2021 and 2022, the Group made credit loss provision on other receivables of RMB3.9 million and RMB1.2 million, respectively, which are mainly related to doubtful other receivables. |
Financial instruments by catego
Financial instruments by category | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Financial instruments by category | 8. Financial instruments by category The detail information of financial instruments by category during the years ended December 31, 2021 and 2022 is as below: As of December 31, 2021 2022 RMB’000 RMB’000 Assets as per statement of financial position Financial asset measured at fair value: —Financial asset at fair value through profit or loss 5,000 11,753 —Financial asset at fair value through other comprehensive income — 129,060 5,000 140,813 Financial asset measured at amortized costs: Financial asset —Trade receivables 38,456 130,004 —Financial assets including in other receivables, prepayments and deposits 29,493 24,028 —Cash and cash equivalents 8,489 513,351 Total 81,438 808,196 As of December 31, 2021 2022 RMB’000 RMB’000 Liabilities as per statement of financial position Financial liabilities measured at amortized cost: — Interest bearing bank borrowings — 503,155 — Trade payables 16,872 49,239 — Financial liabilities including in other payables and accruals 10,663 21,282 — Lease liabilities 19,633 16,180 Total 47,168 589,856 As of December 31, 2021 and 2022 the credit risk of cash and cash equivalents is at Stage 1 and the Group estimated that the expected credit loss for these balances were minimal. Trade payables are non-interest bearing and have an average term of three months. Other payabl es |
Interest-bearing bank borrowing
Interest-bearing bank borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [abstract] | |
Interest-bearing bank borrowings | 9. Interest-bearing bank borrowings Interest rate Maturity 2021 Changes in liabilities 2022 RMB’000 RMB’000 RMB’000 Current interest-bearing loans LPR+80BP interest-bearing loan LPR+80BP July 1, 2023 — 20,000 20,000 LPR+185BP interest-bearing loan LPR+185BP December 27, 2023 — 18,000 18,000 Total current interest-bearing loans — 38,000 38,000 Non-current interest-bearing loans LPR+80BP interest-bearing loan LPR+80BP July 1, 2024 — 20,000 20,000 LPR+80BP interest-bearing loan LPR+80BP June 30, 2025 — 445,155 445,155 Total non-current interest-bearing loan — 465,155 465,155 Total interest-bearing loans — 503,155 503,155 LPR+80BP interest-bearing loans The banking facility was newly entered into in 2022 and total amount of this banking facility is RMB600 million. The total drawdown and July 1, 2024, which was guaranteed by the Company and Anji Zhidian, one subsidiary of the Group. LPR+185BP interest-bearing loans This loan is guaranteed by two subsidiaries of the parent, NewLink Group and is repayable in full on |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Leases | 10. Leases The carrying amounts of right-of-use Office buildings Charging stations Total RMB’000 RMB’000 RMB’000 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 Year ended December 31, 2022 Opening net book amount 13,790 5,976 19,766 Additions 3,154 4,109 7,263 Depreciation charge (4,386 ) (4,833 ) (9,219 ) Revision of a lease term arising from a change in the non-cancellable period of a lease — (780 ) (780 ) Closing net book amount 12,558 4,472 17,030 As of December 31, 2022 Cost 27,505 10,828 38,333 Accumulated depreciation (14,947 ) (6,356 ) (21,303 ) Net book value 12,558 4,472 17,030 Additions to the right-of-use (a) Items recognized in the consolidated statements of financial position As of December 31, 2021 2022 RMB’000 RMB’000 Right-of-use Office buildings 13,790 12,558 Charging stations 5,976 4,472 Total 19,766 17,030 As of December 31, 2021 2022 RMB’000 RMB’000 Lease liabilities Current 7,067 6,853 Non-current 12,566 9,327 Total 19,633 16,180 (b) Items recognized in the consolidated statements of loss and other comprehensive loss The consolidated statements of loss and other comprehensive loss shows the following amounts relating to leases: For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Depreciation charge of right-of-use Office buildings 3,537 4,523 4,386 Charging stations — 1,992 4,833 Interest expense (included in finance costs) 300 1,097 1,089 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 9,739 Total 3,837 11,449 20,047 The total cash outflows in financing activities for leases during the years ended December 31, 2020, For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Principal elements of lease payments — 1,881 6,834 Related interest paid — 193 388 Total — 2,074 7,222 The total cash outflows in operating activities for leases during the years ended December 31, 2020, 2021 and 2022 were The weighted average incremental borrowing rate applied to the lease liabilities was 6.0% per annum during the years ended December 31, 2021 and 2022. Set out below are the carrying amounts of lease liabilities and the movements during the period: Office buildings Charging Total RMB’000 RMB’000 RMB’000 Beginning at January 1, 2021 17,836 — 17,836 New leases — 7,968 7,968 Accretion of interest recognised during the year 904 193 1,097 Payments (4,838 ) (2,430 ) (7,268 ) Year ended December 31, 2021 13,902 5,731 19,633 New leases 3,154 4,109 7,263 Accretion of interest recognised during the year 793 296 1,089 Payments (5,230 ) (5,778 ) (11,008 ) Revision of a lease term arising from a change in the non-cancellable period — (797 ) (797 ) Year ended December 31, 2022 12,619 3,561 16,180 The maturity analysis of lease liabilities is disclosed in note 3.1. |
Financial asset at fair value t
Financial asset at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Financial asset at fair value through profit or loss | 11. Financial asset at fair value through profit or loss As of December 31, 2021 2022 RMB’000 RMB’000 Investment (Note i) 5,000 11,753 (i) Investment The Group invested in two investee companies in the form of ordinary shares without significant influence, which is measured at fair value through profit or loss as the Group has not elected to recognise the fair value gain or loss through other comprehensive income. 3 As of December 31, 2021 2022 RMB’000 RMB’000 At the beginning of the year (Note i) — 5,000 Additions (Note ii) 5,000 5,000 Fair value change — 1,753 At the end of the year 5,000 11,753 (i) During the year ended December 31, 2021, the Group invested in a company engaging in EV charging hardware and technology industry for RMB5.0 million, and there was (ii) During the year ended December 31, 2022, the Group invested in a leading company committed in intelligent in-vehicle system for RMB5.0 million. There was |
Financial asset at fair value_2
Financial asset at fair value through other comprehensive income | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial assets [abstract] | |
Financial asset at fair value through other comprehensive income | 12. Financial asset at fair value through other comprehensive income As of December 31, 2021 2022 RMB’000 RMB’000 Investment — 129,060 (i) Investment The Group invested in an investee company in the form of ordinary shares without significant influence, which is measured at fair value through other comprehensive income. For the major assumptions used in the valuation for the investment, please refer to Note 3 As of December 31, 2021 2022 RMB’000 RMB’000 At the beginning of the year — — Additions (Note i) — 139,203 Fair value change — (10,143 ) At the end of the year — 129,060 (i) During the year ended December 31, 2022, the Group invested in a company engaging in insurance industry for million, and the Group recognised fair value loss of million during the year. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment | 13. Property, plant and equipment Electronic equipment RMB’000 At January 1, 2022 Cost 606 Accumulated depreciation (58 ) Net carrying amount 548 At January 1, 2022, net of accumulated depreciation 548 Additions 2,262 Depreciation provided during the year (210 ) At December 31, 2022, net of accumulated depreciation 2,600 At December 31, 2022 Cost 2,868 Accumulated depreciation (268 ) Net carrying amount 2,600 |
Other payables and accruals
Other payables and accruals | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other payables [abstract] | |
Other payables and accruals | 14. Other payables and accruals As of December 31, 2021 2022 RMB’000 RMB’000 Contract liabilities (Note i) 5,365 29,384 Employee benefit payables 11,403 21,155 Accrued expenses 10,508 20,376 Income tax payable 6,791 16,214 Other taxes payable (Note ii) 58,180 5,855 Advances from platform users 18,401 2,185 Deferred income (Note iii) 1,345 1,974 Others 155 906 Total 112,148 98,049 Notes: (i) Details of contract liabilities are as follows: As of December 31, 2021 2022 RMB’000 RMB’000 VIP membership and coupon sales 4,961 24,585 Customer advances in chargers sales 50 3,869 Others 354 930 Total 5,365 29,384 Contract liabilities include balances of VIP membership and coupon sales, customer advances collected from chargers sales. The increase of contract liabilities in 2021 and 2022 was mainly due to the increase of balance of unutilized VIP membership and coupons which are in line with transaction volume through the platform. Set out below is the amount of revenue recognized from: As of December 31, 2021 2022 RMB’000 RMB’000 Amount included in contract liabilities at the beginning of the year 357 5,365 The Group has elected the practical expedient of not to disclose the remaining performance obligations for its revenue contracts because the performance obligation is part of a contract that has an original expected duration of one year or less . (ii) Other taxes payable primarily represent value-added tax (“VAT”) and related surcharges, and PRC individual income tax of employees withheld by the Group. (iii) The deferred income is unconsumed carbon credits with a validity term of 6 months since granted. |
Share capital and additional pa
Share capital and additional paid in capital | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of classes of share capital [abstract] | |
Combined capital and additional paid in capital | 15. Share capital and additional paid in capital Number of Nominal Share Additional Total US$ RMB’000 RMB’000 RMB’000 At January 1, 2020 (note i) 100 — * — 79,604 79,604 Stock dividend to the controlling shareholder (note ii) 400 — * — — — Contribution from the controlling shareholder (Note 27) — — — 68,382 68,382 At December 31, 2020 500 1 — 147,986 147,986 At January 1, 2021 500 1 — 147,986 147,986 Contribution from the controlling shareholder (Note 27) — — — 264,555 264,555 Share-based payments from the controlling shareholder (Note 23) — — — 10,788 10,788 At December 31, 2021 500 1 — 423,329 423,329 At January 1, 2022 500 1 — 423,329 423,329 Subdivision of shares (note ii) 4,500 — — — — Stock dividend to the controlling shareholder (note ii) 49,995,000 5,000 32 (32 ) — Conversion of preferred shares to share capital (note iii) 326,976,779 3,269,768 21,905 3,712,984 3,734,889 Recapitalization upon the Merger (note ii) 1,597,547,772 16,470,477 110,343 (110,343 ) — Deemed issuance of shares upon the Merger transaction 161,713,040 1,617,130 10,226 1,881,758 1,891,984 Issuance of share capital (Note v) 57,570,524 575,705 4,005 204,690 208,695 Exercise of option 3,170,010 31,700 219 5,203 5,422 Contribution from the controlling shareholder (Note 27) — — — 27,179 27,179 Share-based payments from the Company (Note 23) — — — 195,669 195,669 Share-based payments from the controlling shareholder (Note 23) — — — 18,163 18,163 Balance at December 31, 2022 (note iv) 2,196,978,125 21,969,781 146,730 6,358,600 6,505,330 * Representing amount less than US$1.00. All issued shares are fully paid as at December 31, 2020, 2021 and 2022. Notes: (i) In July 2019, 100 ordinary shares of Dada were allotted and issued to the controlling shareholder, of par value US$0.001. (ii) In November 2020 shares of Dada were allotted and issued to the controlling shareholder, which is effectively a 1-to-5 share subdivision . In January 2022, each existing issued and unissued share of par value US$0.001 each in the share capital of Dada was subdivided into 10 shares of par value US$0.0001. In January 2022, 49,995,000 ordinary shares of Dada were allotted and issued to the controlling shareholder, which is effectively a 1-to-10,000 share subdivision. Upon the Merger, each existing issued and unissued share of par value US$0.0001 each in the share capital of Dada was cancelled in exchange for the right to receive 32.951 ordinary shares of the Company. The above events mentioned in note (ii) are collectively referred as the “Share Subdivision”. All number of share and share capital amount presented in the financial statements are retroactively adjusted and presented to reflect the effect of the Share Subdivision, except for amounts on consolidated statements of changes in equity and in this Note 15. (iii) In January and March 2022, the Group issued convertible redeemable preferred shares of Dada for a total cash consideration of million. The convertible redeemable preferred shares were automatically converted to ordinary shares of Dada in June 2022. (iv) As of December 31, 202 2 0.01 100,000,000 (v) In December 2022, an institution investor purchased a total of 57,570,524 newly issued Class A ordinary shares through a private placement, with a total purchase price of US$30 million (RMB208.7 million). The Company’s ordinary shares are divided into Class A ordinary shares, Class B ordinary shares and Class C ordinary shares. Holders of our Class A ordinary shares, Class B ordinary shares and Class C ordinary shares have the same rights, preferences and restrictions except for voting and conversion rights. Voting rights. Conversion. |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Revenues | 16. Revenues For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 5,455 17,985 50,151 Net Revenues from Offline EV Charging Solutions 565 14,611 40,554 Net Revenues from Innovative and Other Businesses 143 857 2,109 Net Revenues 6,163 33,453 92,814 Timing of rev enu |
Other gains, net
Other gains, net | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Other gains, net | 17. Other gains, net For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Non-operating 319 138 7,617 Non-operating — — (300 ) Total 319 138 7,317 |
Operating costs and expenses by
Operating costs and expenses by nature | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Operating costs and expenses by nature | 18. Operating costs and expenses by nature For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Equity-settled listing costs — — 1,912,693 Employee benefit expenses 40,402 112,102 341,608 Professional service fee 208 8,787 66,657 Incentives through network 23,338 105,939 120,461 Promotion and advertising 5,132 16,675 24,492 Offline service costs — 7,965 21,936 Traveling, entertainment and general office expenses 3,106 7,640 15,879 Rental, facility, and utilities 669 4,277 12,500 Depreciation of right-of-use 3,537 6,515 9,219 Bandwidth expenses and server custody costs 2,760 4,331 4,914 Payment processing cost 1,695 3,893 2,427 Impairment loss on trade and other receivables 1,304 6,964 22,042 Online service costs 6 1,250 352 Others 448 1,300 5,435 Total operating costs and expenses 82,605 287,638 2,560,615 |
Fair value changes
Fair value changes | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of fair value measurement of equity [abstract] | |
Fair value changes | 19. Fair value changes The fair value loss of the year ended December 31, 2022 was RMB3,158.5 million (2021: nil), which was mainly s round financing |
Finance costs
Finance costs | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Finance costs | 20. Finance costs For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Interest expense from bank loans — — (9,149 ) Interest expense from lease liabilities (300 ) (1,097 ) (1,089 ) Others — — (37 ) Finance costs (300 ) (1,097 ) (10,275 ) |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Taxation | 21. 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 (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, 2021 and 2022 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, 2021 and 2022 are analyzed as follows: For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Current income tax 1,474 5,318 9,423 Deferred income tax — — 438 Total income tax expense 1,474 5,318 9,861 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 For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Loss before income tax (76,423 ) (255,144 ) (5,627,504 ) Tax calculated at statutory income tax rate of 25% in mainland China (19,106 ) (63,786 ) (1,406,876 ) Tax effects of: Effect of differing tax rates in different jurisdictions — — 1,272,471 Expenses not deductible for income tax purposes 469 1,069 137,862 Effect of tax loss not recognised 20,111 68,035 37,283 Utilization of tax loss previously not recognized — — (30,879 ) 1,474 5,318 9,861 (b) Deferred income tax As at December 31, 2021 and 2022, 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. As of December 31, 2022, the total unrecorded was million), most of which will be expired in one to five years other than RMB6.1 million (2021: Nil) that are available indefinitely for offsetting against future taxable profit. |
Loss per share
Loss per share | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Loss per share | 22. Loss per share (a) Basic loss per share Basic loss per share for the years ended December 31, 2020, The weighted average number of ordi na r th For the year ended December 31, 2020 2021 2022 Net loss attributable to equity holders of the Company (RMB’000) 77,897 260,462 5,637,365 Weighted average number of ordinary shares in issue 1,647,547,772 1,647,547,772 1,927,746,700 Basic loss per share (RMB per share) 0.05 0.16 2.92 (b) Diluted loss per share Diluted loss per share is calculat ed b The computation of basic and diluted loss per Class A, Class B and Class C ordinary share are the same as they have the same rights to participate in profits and are all treated as ordinary shares on an as converted basis. |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-based payments | 23. Share-based payments RISE Share Incentive Plans Before the Merger, RISE operated several Share Incentive Plans (the “RISE Plans”) under which the outstanding granted share options of 3,966,704 were all vested and exercisable as of June 10, 2022. All awards under RISE Plans that were outstanding immediately prior to the Merger were automatically cancelled and extinguished, except that each vested option to purchase ordinary shares that was outstanding immediately prior to the Merger was converted into an option to purchase Class A ordinary shares of the Company. During the period from the June 10, 2022 to December 31, 2022, 3,170,010 share options exercised during the year resulted in the issuance of 3,170,010 Class A ordinary shares of the Company. The weighted average exercise price at the date of exercise of these options was US 2022 Share Incentive Plan In January 2022, the Board of Directors of Dada approved the Dada Share Incentive Plan (the “2022 Share Incentive Plan”), which has a term of 10 years. Under the 2022 Share Incentive Plan, Dada reserved options to its eligible employees, directors and officers of the Dada for the purchase of 224,665,915 of the Dada’s ordinary shares in aggregate. The exercise price for such options is US$ to During the year ended December 31, 2022, the Company granted certain share options under the 2022 Share Incentive Plan. Most of those share options granted under the 2022 Share Incentive Plan were vested over 3 to 5 years. The contractual term of the those share options is 10 years. The fair value of the share options was determined using the binomial option valuation model, with the assistance from a third-party appraiser. The binomial model requires the input of a few key assumptions. For expected volatility, the Company made reference to the Company’s own listed share price and historical volatility of several comparable companies due to its short history of being listed. On March 18, 2022 the Board of Directors of Dada approved certain grant to two of the Group’s directors and executive officers of share options with vesting condition that 50% will vest 9.13 There are no cash settlement alternatives for the employees, and the Group does not have a past practice of cash settlement for these awards. The Group’s awards are accounted for as equity awards. In February and March 2022, certain employees resigned and joined Anji Datacom, due to the Asset Transfer. The Group agreed that all unvested options of those employees became immediately vested upon resignation. The Group expenses all unvested options upon the accelerated vesting in the consolidated statement of loss and other comprehensive loss. On June 10, 2022, the Company assumed the then-effective 2022 Share Incentive Plan. Each option to purchase ordinary shares of Dada that was outstanding immediately prior to June 10, 2022, whether vested or unvested, was converted into an option to purchase a number of Class A ordinary shares of the Company at a conversion ratio of 32.951 in accordance with the Merger. In September 2022, the 2022 Share Incentive Plan was replaced with further explanation below. The following table illustrates the number and weighted average exercise prices of, and movements in, the 2022 Share Incentive Plan during the year ended December 31, 2022: Number of Weighted US$ Awarded and unvested as of December 31, 2021 — N/A Granted 228,189,750 0.00 * Forfeited (20,317,822 ) 0.00 * Exercised — N/A Carried over to New 2022 Share Incentive Plans 207,871,928 0.00 * Outstanding as of December 31, 2022 — N/A The following tables list the inputs to the models used for the valuation of the share options for the year ended 31 December 2022: Model used Binomial Monte Carlo Weighted average fair values at the measurement date $ 0.27 $ 0.03 Expected volatility (%) 64.78% - 67.38 % 63.11 % Risk–free interest rate (%) 1.81% - 3.72 % 2.14 % Expected life of share options (years) 10 9.13-9.53 Weighted average share price $ 0.28 $ 0.24 * Representing amount less than US$0.005 The New 2022 In September 2022, the Board of Directors of NaaS approved the New 2022 Equity Incentive Plan of NaaS (the “New 2022 Equity Incentive Plan”) to replace the 2022 Share Incentive Plan. The New 2022 Share Incentive Plan has a term of 10 years. The maximum number of Class A ordinary shares available to be issued under the New 2022 Share Incentive Plan is initially and will be increased on the first day of each fiscal year from January 1, 2023 by an amount equal to % of the total number of shares issued and outstanding on the last day of the immediately preceding fiscal year, unless otherwise decided by our board of directors. The range of to US$0.3 per share. Outstanding awards under the 2022 Share Incentive Plan remain valid and are governed by, and counted towards the total number of shares available under, the New 2022 Share Incentive Plan. The Company reserved options to its eligible employees, directors and officers of the Company for the purchase of 224,665,915 of the Company’s Class A ordinary shares in aggregate. The Company granted 195,763,865 share options under the New 2022 Share Incentive Plan to the original grantees as replacement awards for the 2022 Share Incentive Plan. Such replacement was accounted for as a modification of share options; the incremental cost immediately before and after the replacement was immaterial. During the period from the September 29, 2022 to December 31, 2022, the Company granted additional share options under the New 2022 Share Incentive Plan. Most of the share options granted under the 2022 Share Incentive Plan were vested over 3 to . The contractual term of the those share options is years. There are no cash settlement alternatives for the employees, directors and officers, and the Group does not have a past practice of cash settlement for these awards. The Group’s awards are accounted for as equity awards. The following table illustrates the number and weighted average exercise prices of, and movements in the New 2022 Share Incentive Plan during the year ended December 31, 2022: Number of Weighted US$ Awarded and unvested as of December 31, 2021 — N/A Assumed from 2022 Share Incentive Plan 207,871,928 0.00 ** Granted 2,399,810 0.15 Forfeited (157,310 ) 0.01 Exercised — N/A Outstanding as of December 31, 2022 210,114,428 0.00 ** Exercisable as of 104,527,155 0.00 ** * the option to purchase ordinary shares of NaaS that was outstanding immediately prior to June 10, 2022 was converted into an option to purchase a number of Class A ordinary shares at a conversion ratio of 32.951. ** Representing amount less than US$0.005. The fair value of the share options was determined using the binomial option valuation model, with the assistance from a third-party appraiser. The binomial model requires the inputs from a few key assumptions. For expected volatility, the Company made reference to the Company’s own listed share price and historical volatility of several comparable companies due to its short history of being listed. The following tables list the inputs to the models used for the valuation of the share options for the year ended 31 December 2022: Model used Binomial Weighted average fair values at the measurement date $0.35 Expected volatility (%) 67.09% - 67.14% Risk–free interest rate (%) 3.83% Expected life of share options (years) 10 Weighted average share price $0.43 The weighted average remaining contractual life for the share options outstanding as at 31 December 2022 was years. The weighted average fair value of options granted during the year was $ . New L The Group was historically part of NewLink’s businesses and were conducted by NewLink and its consolidated entities at the time. For the years ended 2021 and 2022, NewLink granted share options under NewLink 2020 Share Incentive Plan to certain of its employees associated with the Group’s EV Charging Business, which were subsequently transferred to the Group. The Group, as the entity receiving services, accounted for such transaction as equity settled share-based payments as the Group does not have the obligation to settle. In February and March 2022, certain employees resigned and joined Anji Datacom due to the Asset Transfer. NewLink agreed that all unvested options of those employees became immediately vested upon resignation. The Group expenses all unvested options upon the accelerated vesting in the consolidated statement of loss and other comprehensive loss. The following table illustrates the number and weighted average exercise prices of, and movements in, the NewLink 2020 Share Incentive Plan during the years ended December 31, 2021 and 2022: 2021 2021 2022 2022 Number of Weighted average Number of Weighted average US$ US$ Awarded and unvested as of January 1 — N/A 3,310,722 0.00 * Granted 3,310,722 0.00 * 932,000 0.32 Forfeited — N/A (386,101 ) 0.00 * Exercised — N/A — N/A Outstanding as of December 31 3,310,722 0.00 * 3,856,621 0.08 Exercisable as of 801,889 0.00 * 1,781,120 0.00 * * Representing amount less than US$0.005. The fair value of the share options was determined using the binomial option valuation model, with the assistance from a third-party appraiser. The binomial model requires the inputs from a few key assumptions. For expected volatility, the Company made reference to historical volatility of several comparable companies of NewLink due to it being a private company. The range of expected volatility rate was and 48.03% to 51.93% for 2021 and 2022, respectively. The range of risk-free interest rate was 1.3 and % to 3.88% for 2021 and 2022, respectively. The weighted average fair value at the measurement date was $2.28 and $2.90 for 2021 and 2022, respectively. The weighted average remaining contractual life for the share options outstanding as at 31 December 2022 was 9.08 years. For the years ended December 31, 2021 and 2022, the Group allocated share based compensation expense as follows: 2021 2022 RMB’000 RMB’000 Cost of revenues 82 5,322 Selling and marketing expenses 3,896 27,846 Administrative expenses 6,323 170,145 Research and development expenses 487 10,519 Total 10,788 213,832 |
Cash flow information
Cash flow information | 12 Months Ended |
Dec. 31, 2022 | |
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Cash flow information | 24. Cash flow information (a) Cash used in operation For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Loss before income tax (76,423 ) (255,144 ) (5,627,504 ) Adjustments for: Depreciation of property, plant and equipment (Note 1 3 — 58 210 Amortisation of intangible assets — — 167 Depreciation of right-of-use 3,537 6,515 9,219 Credit loss allowances on financial asset 135 3,205 20,587 Equity-settled listing cost — — 1,912,693 Fair value change loss, net — — 3,156,745 Non-cash — 10,788 213,832 Interest income — — (4,826 ) Interest expense 300 1,097 10,238 Increase in trade receivables (4,824 ) (33,632 ) (111,330 ) Increase in prepayments, other receivables and other assets (14,449 ) (59,178 ) (182,408 ) Increase /(decrease) 34,508 101,097 (7,164 ) Increase in contract liabilities 276 6,080 24,019 Cash used in operations (56,940 ) (219,114 ) (585,522 ) Interest received — — 4,826 Net cash used in operating activities (56,940 ) (219,114 ) (580,696 ) Major non-cash transactions: During the year, the Group had non-cash additions to right-of-use assets and lease liabilities of RMB7.3 million (2021: RMB8.0 million) and RMB7.3 million (2021: RMB8.0 During the year, the Group received financial support from NewLink with amount of RMB27.2 million (2021: RMB264.6 million) as detailed in Note 27. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2022 | |
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Commitments | 25. Commitments (a) Short-term lease commitments Short-term lease commitments-as The future aggregate minimum lease payments under short-term leases exempted to be recognized as lease liabilities are as follows: For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Within one year — 5,645 3,530 Total — 5,645 3,530 |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
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Contingencies | 26. Contingencies There was no significant contingencies as at December 31, 2021 and 2022. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2022 | |
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Related party transactions | 27. 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 the Reorganization, the Listing Business was carried out by NewLink and its consolidated entities. NewLink and its consolidated entities provided financial support and services for the Listing Business. Pursuant to the Reorganization, NaaS is regarded as continuing operator of the Listing Business. Newlink provided financial support and waived million and million due from the Group in 2021 and 2022, respectively. The amounts waived were recorded as contribution from shareholder in the respective years. In 2022, NewLink paid the following amounts on behalf of the Company (i) RMB31.1 million as payroll and non-payroll labor expenses; (ii) RMB4.1 million as rental fees; and (iii) RMB18.7 million as other expenses. The total amount of million was reflected through Consolidated Statements of Loss and Other Comprehensive Loss in 2022. The Company paid NewLink a total of RMB26.7 million from January to December 2022. The total amount of RMB27.2 million was waived. In addition, expenses of shared service departments, such as the administrative department, before the completion of the Restructuring were borne by NewLink and were not charged to the Company. (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 were subsequently transferred to the Group as part of the Restructuring. The share-based compensation in 2021 and 2022 was approximately million, respectively, and credited to additional paid in capital accordingly. See Note 23 for further details. (c) Key management personnel compensation The following table sets forth information regarding our directors and executive officers for the years ended December 31, 2020, 2021 and 2022. For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Short-term employee benefits 1,056 2,692 2,694 Share-based compensation — — 123,383 1,056 2,692 126,077 |
Event occurring after the repor
Event occurring after the reporting period | 12 Months Ended |
Dec. 31, 2022 | |
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Event occurring after the reporting period | 28. Event occurring after the reporting period (a) Investment In January 2023, the records |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
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Basis of preparation | 2.1. Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards(“IFRSs”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements of the Group have been prepared on a historical cost basis, except for equity financial assets and convertible redeemable preferred shares that have been measured at fair value. All amounts disclosed in the consolidated financial statements are rounded to the nearest thousand unless otherwise indicated. The consolidated financial statements are prepared on a going concern basis. See Note 2.2 for details. The preparation of the consolidated 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 consolidated financial statements are disclosed in Note 4. As disclosed in “1.2. History and reorganization of the Group”, the Reorganization was completed in April, 2022. Through the Reorganization, the Company became the holding company of the companies now comprising the Group. Accordingly, for the purpose of preparation of the consolidated financial statements of the Group, the Company is considered as the holding company of the companies now comprising the Group throughout the years ended December 31, 2020, 2021 and 2022. Through the Reorganization, the Company became the holding company of the contributed businesses now comprising the Group, which were under the common control of the controlling shareholder before and after the Reorganization. Accordingly, the financial statements were prepared on a consolidated basis by applying the principles of the pooling of interest method as if the Reorganization had been completed at the date when contributed business first came under the control of the controlling party. The consolidated statements of loss and other comprehensive income, changes in equity and cash flows of the Group included the results and cash flows of all companies now comprising the Group from the earliest date presented or since the date when the subsidiaries and/or businesses first came under the common control of the controlling shareholder, whenever the period is shorter. |
New and amended standards adopted by the Group | 2.1.1. New and amended standards adopted by the Group (a) Amendments to the accounting standards adopted The Group has applied the following amendments for the first time for their annual reporting period commencing January 1, 2022: • Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 • Onerous Contracts – Cost of Fulfilling a Contract – Amendments to IAS 37 • Annual Improvements to IFRS Standards 2018-2020, and • Reference to the Conceptual Framework – Amendments to IFRS 3. The amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. (b) New standards and interpretations not yet adopted New standards, amendments to sta Standards and amendments Effective for annual periods beginning on or after IFRS 17 Insurance Contracts January 1, 2023 Non-current Liabilities with Covenants—Amendments to IAS 1 January 1, 2024 Classification of Liabilities as Current or Non-current—Amendments to IAS 1 January 1, 2024 Disclosure of Accounting Policies—Amendments to IAS 1 and IFRS Practice Statement 2 January 1, 2023 Definition of Accounting Estimates—Amendments to IAS 8 January 1, 2023 Deferred Tax related to Assets and Liabilities arising from a Single Transaction—Amendments to IAS 12 January 1, 2023 Sale or contribution of assets between an investor and its associate or joint venture—Amendments to IFRS 10 and IAS 28 To be determined These new standards, amendments or interpretations are not expected to have a material impact on the Group’s consolidated financial statements in the current or future reporting periods and on foreseeable future transactions. |
Going concern basis | 2.2. Going concern basis The Group incurred net losses for the years ended December 31, 2021 and 2022, respectively and net In January 2022, the Group issued convertible redeemable preferred shares for a total cash consideration of million. In December 2022, the Group issued Class A ordinary shares to an institution investor, for a total purchase price of million. The Group also obtained bank borrowings amounting to million to cover the working capital in online EV charging solutions and hardware procurement business. The Group expects that its existing cash and cash equivalents and unused banking facilities 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 the consolidated financial statements. In addition, the Group has received a financial support guarantee from its parent NewLink Group. 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 costs and expenses, generating operational cash flows as well as continuing to gain support from outside sources of financing. Based on the above considerations, the Group believes that funds from equity financing and banking facilities will be sufficient to meet the cash requirements to fund planned operations and other commitments for at least twelve months from the date of issuance of the consolidated financial statements. Therefore, the Group’s consolidated 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 | 2.3. Subsidiaries and non-controlling 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. Inter-company Non-controlling non-controlling |
Segment reporting | 2.4. 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, 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 | 2.5. Foreign currency translation (a) Functional and presentation currency Items included in the financial statements 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 U.S. dollars (“USD”). The functional currency of subsidiaries in the Group incorporated in the PRC is Renminbi (“RMB”). The Group presents its consolidated financial statements in RMB, unless otherwise stated. (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in profit or loss. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. (c) Group companies The results and financial position of foreign operations (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 the end of the reporting period. (ii) income and expenses for each statement of loss and other comprehensive loss are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the 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 recognized in other comprehensive loss. During the year ended December 31, 2021, there were no translation difference recognized for there was no overseas transactions led to translation differences. During the year ended December 31, 2022, such difference recognized was RMB25.1 million (US$ 3.6 million ). |
Property, plant and equipment | 2.6. Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation and accumulated impairment losses (if any). Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized 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 any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred. Depreciation is calculated using the straight-line method to allocate the cost of the assets, net of their residual values, over their estimated useful lives, as follows: – Electronic equipment 5 years – Furniture and office equipment 3 years The asset’s residual values and useful lives are reviewed, and adjusted if 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 included in profit or loss. During the years ended December 31, 2021 and 2022, no such disposals occurred. |
Intangible assets | 2.7. Intangible assets Acquired computer software is stated at historical cost less accumulated amortization and accumulated impairment losses (if any). Historical cost includes expenditure that is directly attributable to the acquisition of the items. Costs associated with maintaining software programs are expensed as incurred. The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods: – Computer software 5 years |
Investments and other financial assets | 2.8. 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 (“OCI”) or through profit or loss), and • those to be measured at amortized 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 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 recognized on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. (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 t o be recogni Changes in the fair value of financial assets at FVPL are recognized in the consolidated statements of loss and other comprehensive 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. The impairment methodology applied depends on whether there has been a significant increase in credit risk. |
Trade receivables and other receivables | 2.9. 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 trade receivables are from hardware procurement business and 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 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 6 for further information about trade receivables and Note 3.1 for a description of the Group’s financial risk. For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Impairment on other receivables is measured as either 12-month |
Cash and cash equivalents | 2.10. Cash an d c For the purpose of presentation in the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, cash at bank and deposits held at licensed payment platforms with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. |
Share capital | 2.11. Sha r 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 | 2.12. Trade and other payables Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the 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 recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method. |
Borrowings | 2.13. Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as a prepayment for liquidity services and amortized over the period of the facility to which it relates. Borrowings are removed from the consolidated statement of financial position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any noncash assets transferred or liabilities assumed, is recognized in profit or loss as other income or finance costs. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. |
Borrowing costs | 2.14. Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings, pending their expenditure on qualifying assets, is deducted from the borrowing costs eligible for capitalization. Other borrowing costs are expensed in the period in which they are incurred. |
Current and deferred income tax | 2.15. Current and deferred in c 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. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively. (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 Group 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 provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, 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 and does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period 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 and losses 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 | 2.16. Em plo (a) Short-term obligations Liabilities for wages and salaries, including non-monetary (b) Post-employment obligations The Group participated 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 recognized as employee benefit expenses when they are due. (c) Housing funds, medical insurance and other social insurance Employees of the Group in the PRC are entitled to participate in various government-supervised housing funds, medical insurance and other social insurance 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 during each year. Contributions to the housing funds, medical insurance and other social insurance are expensed when they are due. (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 | 2.17. 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 recognizes 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: (a) provides all of the benefits received and consumed simultaneously by the customer; (b) creates and enhances an asset that the customer controls as the Group performs; or (c) 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. 2.17.1. 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 obligation for the Group is to display the charging stations and chargers on the platform and provide such information for end-users who visit the platform. The end-users select a charging station/chargers on the platform and drive to the charging station/charging plies to charger their EV. 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 Company entered into master agreements with charging station operators where the Company is entitled to share a fixed percentage of the EV charging service fee for each EV charging order that is placed through Kuaidian platform, ie., the commission income. The commission income is recognised upon the completion of each order when the service is provided. The Company may, from time to time, provide incentives to end-users at its own discretion, which are treated as payables to customers and when there is no distinct goods or service received from end-users, such incentives are treated as reduction to revenue. See 2.17.3 for more details. After the Kuaidian platform 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; end-users, end-users end-users. The Group pays to the charging station operators in advance before the delivery of service and records it as prepayment as the amount paid could be returned to the Group. In some cases, the Group may settle the outstanding balance subsequent to the transaction and the balance owed to operators is recorded as a payable. In addition, 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 SaaS revenue is not material for the periods presented. 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 relating to the material right at the later of: (i) when the underlying benefit is redeemed by the customer for online EV charging solution services or (ii) when the benefit is expired. All incentives provided to the VIP members from the usage of cash coupons and incremental discounts are consideration payable to the customer, which is netted against both the online EV charging solutions revenue and membership revenue with the resulting negative revenue from each transaction, if any, being reclassified to selling and marketing expenses. 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 . 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 for the Offline EV charging services as the Group controls the EV charging service prior to transfer to the customer. The Group is primarily responsible for providing the EV charging service to the EV drivers and also 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 recognized as revenue on a gross basis when the services are rendered. The Group considers itself as an agent for the hardware procurement as the Group does not control hardware during the transaction. Therefore, revenues from such services are recognized on a net basis. Innovative and Other Businesses 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. 2.17.2. 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 a 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 balances of VIP membership, coupon package sales and advances from hardware customers. The balances of contract liability as of December 31, 2021 and 2022 were RMB5.4 million and RMB 29.4 2.17.3 Incentives The Group offers discounts and promotions to end-users end-users end-users 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 revenues | 2.18. Cost of re ve Cost of revenues mainly consists of electricity costs, depreciation of right-of-use |
Selling and marketing expenses | 2.19. Selling and marketing expenses Selling and marketing expenses mainly consist of expenses of certain discounts and promotions to end-users, end-users |
Administrative expenses | 2.20. Administrati ve Administrative expenses mainly consist of salaries and benefits for management and admi nistrative |
Research and development expenses | 2.21. Resear c Research and development expenses mainly consist of salaries and benefits as well as related expenses of research and development team. All research and development costs are expensed as incurred. All costs relating to improvements and maintenance of the platform were recorded as cost of revenues. |
Loss per share | 2.22. Loss per share (a) Basic loss per share Basic loss per share is calculated by dividing: • net loss attributable to equity holders of the Company, excluding any costs of servicing equity other than ordinary shares • by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year and excluding treasury shares. (b) Diluted loss 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 | 2.23. Leases The Group, as a lessee, leases office buildings and charging stations. Lease contracts are typically made for fixed periods of six months to five years. Lease is recognized as a right-of-use Contracts may contain both lease and non-lease non-lease Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance • variable lease payments that are based on a rate, initially measured using the rate as at the commencement date • amounts expected to be payable by the Group under residual value guarantees • the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and • payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option. 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 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 • 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 right-of-use The Group applies the short-term lease recognition exemption to its short-term leases of equipment and office buildings (that is those leases that have a lease term of or less from the commencement date and do not contain a purchase option). It also applies the recognition exemption for leases of low-value assets to leases of office equipment and laptop computers that are considered to be of low value. |
Finance costs | 2.24. Finance costs Finance costs mainly consist of interest and other costs related to operating leases and borrowing of funds. |
Convertible redeemable preferred shares ("Preferred Shares") | 2.25. Convertible redeemable preferred shares (“Preferred Shares”) In 2022 the Group issued convertible redeemable preferred shares. Holders of Preferred Shares issued are redeemable upon occurrence of certain future events. These instruments can also be converted into ordinary shares of the Company at any time at the option of the preferred shareholders, or automatically be converted into ordinary shares immediately prior to the closing of a qualified initial public offering of the Company. The Preferred Shares were financial liabilities with embedded derivatives and the Group designated the entire hybrid instrument as financial liabilities at fair value through profit or loss. The Preferred Shares were initially recognized at fair value. The component of fair value changes relating to the Company’s own credit risk recognized in OCI was immaterial. Amounts recorded in OCI related to credit risk were not subject to recycling in profit or loss, but were transferred to retained earnings when realised. Fair value changes relating to market risk were recognized in profit or loss. The Preferred Shares were classified as non-current liabilities unless the Preferred Shares holders can demand the Company to redeem the Preferred Shares within 12 months after the end of the reporting period. All of Preferred Shares were converted to Class A ordinary shares upon consummation of the Mergers. The fair value of each of Preferred Shares was equal to the fair value of each of ordinary shares on the conversion date as detailed in Note 15. |
Share-based payments | 2.26. Share-based payments Employees (including senior executives) of the Group receive remuneration in the form of share-based payments, whereby employees render services in exchange for equity instruments (equity-settled transactions). Equity-settled transactions The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model, further details of which are given in Note 23. That cost is recognised in employee benefits expense, together with a corresponding increase in equity, over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of loss for a period represents the movement in cumulative expense recognised as at the beginning and end of that period. Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Group’s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognised for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified, the minimum expense recognised is the grant date fair value of the unmodified award, provided the original vesting terms of the award are met. An additional expense, measured as at the date of modification, is recognised for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. Where an award is cancelled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share. |
Convenience translation | 2.27 Convenience translation Amounts in U.S. dollars are presented for the convenience of the reader an |
Corporate information (Tables)
Corporate information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Subsidiaries | The Company’s major subsidiaries as at December 31, 2021 and 2022 are set out below. The country of incorporation or registration is also their principal place of business. Name of entity Place of incorporation and Date of incorporation/ establishment Ownership interest held by the Group Principal activities 2022 2021 Kuaidian Power Beijing Beijing, China Limited liability company August 20, 2019 100% 100% Online EV charging solutions, innovative and other businesses Beijing Chezhubang Beijing, China Limited liability company July 18, 2018 100% 100% Online EV charging solutions Zhidian Youtong Shandong, China Limited liability company September 27, 2020 100% 100% Offline EV charging solutions Anji Zhidian Zhejiang, China Limited liability company December 24, 2021 100% 100% Online EV charging Solutions Qingdao Intelligent Electronics Qingdao, China Limited liability company June 9, 2022 100% 100% Offline EV charging Solutions QHM New Energy Shandong, China Limited liability company April 26, 2021 100% 100% Offline EV charging solutions Cosmo Light Beijing, China Limited liability company February 22, 2021 100% 100% Online EV charging solutions |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Standard Amendments and Interpretations That Have Been Issued but Not Yet Effective | New standards, amendments to sta Standards and amendments Effective for annual periods beginning on or after IFRS 17 Insurance Contracts January 1, 2023 Non-current Liabilities with Covenants—Amendments to IAS 1 January 1, 2024 Classification of Liabilities as Current or Non-current—Amendments to IAS 1 January 1, 2024 Disclosure of Accounting Policies—Amendments to IAS 1 and IFRS Practice Statement 2 January 1, 2023 Definition of Accounting Estimates—Amendments to IAS 8 January 1, 2023 Deferred Tax related to Assets and Liabilities arising from a Single Transaction—Amendments to IAS 12 January 1, 2023 Sale or contribution of assets between an investor and its associate or joint venture—Amendments to IFRS 10 and IAS 28 To be determined |
Summary of Useful Lives of Property Plant and Equipment | Depreciation is calculated using the straight-line method to allocate the cost of the assets, net of their residual values, over their estimated useful lives, as follows: – Electronic equipment 5 years – Furniture and office equipment 3 years |
Summary of Intangible Assets with Indefinite Useful Life | The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods: – Computer software 5 years |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of maturity analysis for non-derivative financial liabilities | The table below analyses the Group’s non-derivative Less than 1 year Between 1 and 2 years Between 2 and 5 years Total Carrying amount RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At December 31, 2021 Trade payables 16,872 — — 16,872 16,872 Financial liabilities including in other payables and accruals 10,663 — — 10,663 10,663 Lease liabilities 8,294 6,205 7,204 21,703 19,633 35,829 6,205 7,204 49,238 47,168 At December 31, 2022 Trade payables 49,239 — — 49,239 49,239 Financial liabilities including in other payables and accruals 21,282 — — 21,282 21,282 Bank borrowings 39,440 21,350 495,235 556,025 503,155 Lease liabilities 7,522 5,751 4,004 17,277 16,180 117,483 27,101 499,239 643,823 589,856 |
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 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 At December 31, 2022 Financial assets at fair value through profit or loss — — 11,753 11,753 Financial assets at fair value through other comprehensive income 129,060 — — 129,060 Total 129,060 — 11,753 140,813 |
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 December 31, Change of inputs at December 31, 2021 2022 Description RMB’000 RMB’000 Unobservable inputs 2021 2022 Relationship of unobservable inputs to fair value Investments in unlisted company 5,000 6,753 Expected volatility 51 % 52 % The higher the expected Discount for lack of marketability (“DLOM”) 19 % 20 % The higher the DLOM, the lower the fair value Investments in unlisted company — 5,000 Expected volatility — 65 % The higher the expected Discount for lack of marketability (“DLOM”) — 27 % The higher the DLOM, the lower the fair value |
Summary of Analysis Of Current Ratio And Liabilities To Assets Ratio | As of December 31 2021 2022 RMB’000 RMB’000 Total current assets 152,778 930,790 Total current liabilities 136,087 192,141 Total assets 178,092 1,105,935 Total liabilities 148,653 667,061 Current Ratio 1.12 4.84 Liabilities to assets ratio 0.83 0.60 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Detailed Information of Cash and Cash Equivalents | As of December 31, 2021 2022 RMB’000 RMB’000 Cash at bank 3,734 512,453 Deposits held at licensed payment platforms 4,755 898 Total 8,489 513,351 |
Trade receivables (Tables)
Trade receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Trade receivables | As of December 31, 2021 2022 RMB’000 RMB’000 Trade receivables 40,926 152,256 Provision on impairment (2,470 ) (22,252) Total 38,456 130,004 |
Summary of Aging Analysis of Trade Receivables | The following is an aging 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, 2021 2022 RMB’000 RMB’000 0 – 90 days 16,472 124,736 91 – 180 days 16,292 1,029 181 – 365 days 5,473 10,480 1 – 2 years 2,689 14,852 2 – 3 years — 1,159 Total 40,926 152,256 |
Summary of Of loss allowance for trade receivables | The movement in the loss allowance for trade receivables during the years indicated are as follows: As of December 31, 2021 2022 RMB’000 RMB’000 Beginning of the year — 2,470 Provision for expected credit loss, net 2,470 19,782 End of the year 2,470 22,252 |
Summary of impairment | The impairment as of December 31, 2021 and 2022 was determined as follows: Within 1 1-2 2-3 Over 3 As of December 31, 2021: Expected credit loss rate 4% 11% — — Gross carrying amount (RMB’000) 38,237 2,124 — — Impairment allowances (RMB’000) 1,666 239 — — As of December 31, 2022: Expected credit loss rate 6% 12% 84% — Gross carrying amount ( RMB’000 133,353 5,903 272 — Impairment allowances ( RMB’000 8,595 701 228 — |
Prepayments, other receivable_2
Prepayments, other receivables and other assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [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, 2021 and 2022 is as below: As of December 31, 2021 2022 RMB’000 RMB’000 Prepayments to charging stations 31,791 222,276 Prepayments for chargers procurement 5,106 35,519 Prepayment for rental facility and utilities 5,615 3,166 Prepayments for miscellaneous 2,146 1,583 Value-added tax deductible 32,367 2,628 Others 34,098 30,369 Receivables from related parties 556 — Credit loss allowance on other receivables (5,162 ) (6,340 ) Impairment on prepayment (684 ) (1,766 ) Total 105,833 287,435 |
Financial instruments by cate_2
Financial instruments by category (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Detailed Information of Category of Financial Instruments | The detail information of financial instruments by category during the years ended December 31, 2021 and 2022 is as below: As of December 31, 2021 2022 RMB’000 RMB’000 Assets as per statement of financial position Financial asset measured at fair value: —Financial asset at fair value through profit or loss 5,000 11,753 —Financial asset at fair value through other comprehensive income — 129,060 5,000 140,813 Financial asset measured at amortized costs: Financial asset —Trade receivables 38,456 130,004 —Financial assets including in other receivables, prepayments and deposits 29,493 24,028 —Cash and cash equivalents 8,489 513,351 Total 81,438 808,196 As of December 31, 2021 2022 RMB’000 RMB’000 Liabilities as per statement of financial position Financial liabilities measured at amortized cost: — Interest bearing bank borrowings — 503,155 — Trade payables 16,872 49,239 — Financial liabilities including in other payables and accruals 10,663 21,282 — Lease liabilities 19,633 16,180 Total 47,168 589,856 |
Interest-bearing bank borrowi_2
Interest-bearing bank borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [abstract] | |
Disclosure of detailed information about borrowings | Interest rate Maturity 2021 Changes in liabilities 2022 RMB’000 RMB’000 RMB’000 Current interest-bearing loans LPR+80BP interest-bearing loan LPR+80BP July 1, 2023 — 20,000 20,000 LPR+185BP interest-bearing loan LPR+185BP December 27, 2023 — 18,000 18,000 Total current interest-bearing loans — 38,000 38,000 Non-current interest-bearing loans LPR+80BP interest-bearing loan LPR+80BP July 1, 2024 — 20,000 20,000 LPR+80BP interest-bearing loan LPR+80BP June 30, 2025 — 445,155 445,155 Total non-current interest-bearing loan — 465,155 465,155 Total interest-bearing loans — 503,155 503,155 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Lease Items Recognized in Combined Statements Of Financial Position | (a) Items recognized in the consolidated statements of financial position As of December 31, 2021 2022 RMB’000 RMB’000 Right-of-use Office buildings 13,790 12,558 Charging stations 5,976 4,472 Total 19,766 17,030 As of December 31, 2021 2022 RMB’000 RMB’000 Lease liabilities Current 7,067 6,853 Non-current 12,566 9,327 Total 19,633 16,180 |
Summary of Lease Items Recognized in Combined Statements Of Loss And Other Comprehensive Loss | The consolidated statements of loss and other comprehensive loss shows the following amounts relating to leases: For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Depreciation charge of right-of-use Office buildings 3,537 4,523 4,386 Charging stations — 1,992 4,833 Interest expense (included in finance costs) 300 1,097 1,089 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 9,739 Total 3,837 11,449 20,047 |
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, For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Principal elements of lease payments — 1,881 6,834 Related interest paid — 193 388 Total — 2,074 7,222 |
Summary of Right-of-use Assets | The carrying amounts of right-of-use Office buildings Charging stations Total RMB’000 RMB’000 RMB’000 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 Year ended December 31, 2022 Opening net book amount 13,790 5,976 19,766 Additions 3,154 4,109 7,263 Depreciation charge (4,386 ) (4,833 ) (9,219 ) Revision of a lease term arising from a change in the non-cancellable period of a lease — (780 ) (780 ) Closing net book amount 12,558 4,472 17,030 As of December 31, 2022 Cost 27,505 10,828 38,333 Accumulated depreciation (14,947 ) (6,356 ) (21,303 ) Net book value 12,558 4,472 17,030 |
Summary of carrying amounts of lease liabilities and the movements | Set out below are the carrying amounts of lease liabilities and the movements during the period: Office buildings Charging Total RMB’000 RMB’000 RMB’000 Beginning at January 1, 2021 17,836 — 17,836 New leases — 7,968 7,968 Accretion of interest recognised during the year 904 193 1,097 Payments (4,838 ) (2,430 ) (7,268 ) Year ended December 31, 2021 13,902 5,731 19,633 New leases 3,154 4,109 7,263 Accretion of interest recognised during the year 793 296 1,089 Payments (5,230 ) (5,778 ) (11,008 ) Revision of a lease term arising from a change in the non-cancellable period — (797 ) (797 ) Year ended December 31, 2022 12,619 3,561 16,180 |
Financial asset at fair value_3
Financial asset at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Disclosure Of Financial Assets At Fair Value Through Profit Or Loss Explanatory | As of December 31, 2021 2022 RMB’000 RMB’000 Investment (Note i) 5,000 11,753 (i) Investment |
Disclosure Of Reconciliation Of Changes In Fair Value Measurement Assets Explanatory | The Group invested in two investee companies in the form of ordinary shares without significant influence, which is measured at fair value through profit or loss as the Group has not elected to recognise the fair value gain or loss through other comprehensive income. 3 As of December 31, 2021 2022 RMB’000 RMB’000 At the beginning of the year (Note i) — 5,000 Additions (Note ii) 5,000 5,000 Fair value change — 1,753 At the end of the year 5,000 11,753 (i) During the year ended December 31, 2021, the Group invested in a company engaging in EV charging hardware and technology industry for RMB5.0 million, and there was (ii) During the year ended December 31, 2022, the Group invested in a leading company committed in intelligent in-vehicle system for RMB5.0 million. There was |
Financial asset at fair value_4
Financial asset at fair value through other comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial assets [abstract] | |
Summary of Investment | As of December 31, 2021 2022 RMB’000 RMB’000 Investment — 129,060 (i) Investment |
Summary of ordinary shares without significant influence | The Group invested in an investee company in the form of ordinary shares without significant influence, which is measured at fair value through other comprehensive income. For the major assumptions used in the valuation for the investment, please refer to Note 3 As of December 31, 2021 2022 RMB’000 RMB’000 At the beginning of the year — — Additions (Note i) — 139,203 Fair value change — (10,143 ) At the end of the year — 129,060 (i) During the year ended December 31, 2022, the Group invested in a company engaging in insurance industry for million, and the Group recognised fair value loss of million during the year. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of detailed information about property, plant and equipment | Electronic equipment RMB’000 At January 1, 2022 Cost 606 Accumulated depreciation (58 ) Net carrying amount 548 At January 1, 2022, net of accumulated depreciation 548 Additions 2,262 Depreciation provided during the year (210 ) At December 31, 2022, net of accumulated depreciation 2,600 At December 31, 2022 Cost 2,868 Accumulated depreciation (268 ) Net carrying amount 2,600 |
Other payables and accruals (Ta
Other payables and accruals (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other payables [abstract] | |
Schedule Of Other Payables And Accruals | As of December 31, 2021 2022 RMB’000 RMB’000 Contract liabilities (Note i) 5,365 29,384 Employee benefit payables 11,403 21,155 Accrued expenses 10,508 20,376 Income tax payable 6,791 16,214 Other taxes payable (Note ii) 58,180 5,855 Advances from platform users 18,401 2,185 Deferred income (Note iii) 1,345 1,974 Others 155 906 Total 112,148 98,049 Notes: (i) Details of contract liabilities are as follows: As of December 31, 2021 2022 RMB’000 RMB’000 VIP membership and coupon sales 4,961 24,585 Customer advances in chargers sales 50 3,869 Others 354 930 Total 5,365 29,384 Contract liabilities include balances of VIP membership and coupon sales, customer advances collected from chargers sales. The increase of contract liabilities in 2021 and 2022 was mainly due to the increase of balance of unutilized VIP membership and coupons which are in line with transaction volume through the platform. |
Disclosure of Detailed Information About Revenue Recognized | Set out below is the amount of revenue recognized from: As of December 31, 2021 2022 RMB’000 RMB’000 Amount included in contract liabilities at the beginning of the year 357 5,365 |
Share capital and additional _2
Share capital and additional paid in capital (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Information On Combined Capital And Additional Paid In Capital [Abstract] | |
Summary Of Changes In Combined Capital And Additional Paid In Capital | Number of Nominal Share Additional Total US$ RMB’000 RMB’000 RMB’000 At January 1, 2020 (note i) 100 — * — 79,604 79,604 Stock dividend to the controlling shareholder (note ii) 400 — * — — — Contribution from the controlling shareholder (Note 27) — — — 68,382 68,382 At December 31, 2020 500 1 — 147,986 147,986 At January 1, 2021 500 1 — 147,986 147,986 Contribution from the controlling shareholder (Note 27) — — — 264,555 264,555 Share-based payments from the controlling shareholder (Note 23) — — — 10,788 10,788 At December 31, 2021 500 1 — 423,329 423,329 At January 1, 2022 500 1 — 423,329 423,329 Subdivision of shares (note ii) 4,500 — — — — Stock dividend to the controlling shareholder (note ii) 49,995,000 5,000 32 (32 ) — Conversion of preferred shares to share capital (note iii) 326,976,779 3,269,768 21,905 3,712,984 3,734,889 Recapitalization upon the Merger (note ii) 1,597,547,772 16,470,477 110,343 (110,343 ) — Deemed issuance of shares upon the Merger transaction 161,713,040 1,617,130 10,226 1,881,758 1,891,984 Issuance of share capital (Note v) 57,570,524 575,705 4,005 204,690 208,695 Exercise of option 3,170,010 31,700 219 5,203 5,422 Contribution from the controlling shareholder (Note 27) — — — 27,179 27,179 Share-based payments from the Company (Note 23) — — — 195,669 195,669 Share-based payments from the controlling shareholder (Note 23) — — — 18,163 18,163 Balance at December 31, 2022 (note iv) 2,196,978,125 21,969,781 146,730 6,358,600 6,505,330 * Representing amount less than US$1.00. All issued shares are fully paid as at December 31, 2020, 2021 and 2022. Notes: (i) In July 2019, 100 ordinary shares of Dada were allotted and issued to the controlling shareholder, of par value US$0.001. (ii) In November 2020 shares of Dada were allotted and issued to the controlling shareholder, which is effectively a 1-to-5 share subdivision . In January 2022, each existing issued and unissued share of par value US$0.001 each in the share capital of Dada was subdivided into 10 shares of par value US$0.0001. In January 2022, 49,995,000 ordinary shares of Dada were allotted and issued to the controlling shareholder, which is effectively a 1-to-10,000 share subdivision. Upon the Merger, each existing issued and unissued share of par value US$0.0001 each in the share capital of Dada was cancelled in exchange for the right to receive 32.951 ordinary shares of the Company. The above events mentioned in note (ii) are collectively referred as the “Share Subdivision”. All number of share and share capital amount presented in the financial statements are retroactively adjusted and presented to reflect the effect of the Share Subdivision, except for amounts on consolidated statements of changes in equity and in this Note 15. (iii) In January and March 2022, the Group issued convertible redeemable preferred shares of Dada for a total cash consideration of million. The convertible redeemable preferred shares were automatically converted to ordinary shares of Dada in June 2022. (iv) As of December 31, 202 2 0.01 100,000,000 (v) In December 2022, an institution investor purchased a total of 57,570,524 newly issued Class A ordinary shares through a private placement, with a total purchase price of US$30 million (RMB208.7 million). |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Disclosure of detailed information about revenue explanatory | For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Net Revenues from Online EV Charging Solutions 5,455 17,985 50,151 Net Revenues from Offline EV Charging Solutions 565 14,611 40,554 Net Revenues from Innovative and Other Businesses 143 857 2,109 Net Revenues 6,163 33,453 92,814 |
Other gains, net (Tables)
Other gains, net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Disclosure of detailed information about other gains losses net explanatory | For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Non-operating 319 138 7,617 Non-operating — — (300 ) Total 319 138 7,317 |
Operating costs and expenses _2
Operating costs and expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
summary of detailed information about operating costs by nature explanatory | For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Equity-settled listing costs — — 1,912,693 Employee benefit expenses 40,402 112,102 341,608 Professional service fee 208 8,787 66,657 Incentives through network 23,338 105,939 120,461 Promotion and advertising 5,132 16,675 24,492 Offline service costs — 7,965 21,936 Traveling, entertainment and general office expenses 3,106 7,640 15,879 Rental, facility, and utilities 669 4,277 12,500 Depreciation of right-of-use 3,537 6,515 9,219 Bandwidth expenses and server custody costs 2,760 4,331 4,914 Payment processing cost 1,695 3,893 2,427 Impairment loss on trade and other receivables 1,304 6,964 22,042 Online service costs 6 1,250 352 Others 448 1,300 5,435 Total operating costs and expenses 82,605 287,638 2,560,615 |
Finance costs (Tables)
Finance costs (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of detailed information about finance income expense explanatory | For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Interest expense from bank loans — — (9,149 ) Interest expense from lease liabilities (300 ) (1,097 ) (1,089 ) Others — — (37 ) Finance costs (300 ) (1,097 ) (10,275 ) |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Disclosure of reconciliation of income tax (expenses)benefits | The income tax expenses of the Group during the years ended December 31, 2020, 2021 and 2022 are analyzed as follows: For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Current income tax 1,474 5,318 9,423 Deferred income tax — — 438 Total income tax expense 1,474 5,318 9,861 For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Loss before income tax (76,423 ) (255,144 ) (5,627,504 ) Tax calculated at statutory income tax rate of 25% in mainland China (19,106 ) (63,786 ) (1,406,876 ) Tax effects of: Effect of differing tax rates in different jurisdictions — — 1,272,471 Expenses not deductible for income tax purposes 469 1,069 137,862 Effect of tax loss not recognised 20,111 68,035 37,283 Utilization of tax loss previously not recognized — — (30,879 ) 1,474 5,318 9,861 |
Loss per share (Tables)
Loss per share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Earnings per share | The weighted average number of ordi na r th For the year ended December 31, 2020 2021 2022 Net loss attributable to equity holders of the Company (RMB’000) 77,897 260,462 5,637,365 Weighted average number of ordinary shares in issue 1,647,547,772 1,647,547,772 1,927,746,700 Basic loss per share (RMB per share) 0.05 0.16 2.92 |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Disclosure of Number and Weighted Average Exercise Prices of Share Options | The following table illustrates the number and weighted average exercise prices of, and movements in the New 2022 Share Incentive Plan during the year ended December 31, 2022: Number of Weighted US$ Awarded and unvested as of December 31, 2021 — N/A Assumed from 2022 Share Incentive Plan 207,871,928 0.00 ** Granted 2,399,810 0.15 Forfeited (157,310 ) 0.01 Exercised — N/A Outstanding as of December 31, 2022 210,114,428 0.00 ** Exercisable as of 104,527,155 0.00 ** * the option to purchase ordinary shares of NaaS that was outstanding immediately prior to June 10, 2022 was converted into an option to purchase a number of Class A ordinary shares at a conversion ratio of 32.951. ** Representing amount less than US$0.005. |
Disclosure of Detailed Information About Models Used for the Valuation of the Share Options | The following tables list the inputs to the models used for the valuation of the share options for the year ended 31 December 2022: Model used Binomial Weighted average fair values at the measurement date $0.35 Expected volatility (%) 67.09% - 67.14% Risk–free interest rate (%) 3.83% Expected life of share options (years) 10 Weighted average share price $0.43 |
Disclosure of Detailed Information Expense from Share Based Payment Transactions | For the years ended December 31, 2021 and 2022, the Group allocated share based compensation expense as follows: 2021 2022 RMB’000 RMB’000 Cost of revenues 82 5,322 Selling and marketing expenses 3,896 27,846 Administrative expenses 6,323 170,145 Research and development expenses 487 10,519 Total 10,788 213,832 |
Dada Share Incentive Plans [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Disclosure of Number and Weighted Average Exercise Prices of Share Options | The following table illustrates the number and weighted average exercise prices of, and movements in, the 2022 Share Incentive Plan during the year ended December 31, 2022: Number of Weighted US$ Awarded and unvested as of December 31, 2021 — N/A Granted 228,189,750 0.00 * Forfeited (20,317,822 ) 0.00 * Exercised — N/A Carried over to New 2022 Share Incentive Plans 207,871,928 0.00 * Outstanding as of December 31, 2022 — N/A |
Disclosure of Detailed Information About Models Used for the Valuation of the Share Options | The following tables list the inputs to the models used for the valuation of the share options for the year ended 31 December 2022: Model used Binomial Monte Carlo Weighted average fair values at the measurement date $ 0.27 $ 0.03 Expected volatility (%) 64.78% - 67.38 % 63.11 % Risk–free interest rate (%) 1.81% - 3.72 % 2.14 % Expected life of share options (years) 10 9.13-9.53 Weighted average share price $ 0.28 $ 0.24 * Representing amount less than US$0.005 |
Newlink Share Incentive Plan [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Disclosure of Number and Weighted Average Exercise Prices of Share Options | The following table illustrates the number and weighted average exercise prices of, and movements in, the NewLink 2020 Share Incentive Plan during the years ended December 31, 2021 and 2022: 2021 2021 2022 2022 Number of Weighted average Number of Weighted average US$ US$ Awarded and unvested as of January 1 — N/A 3,310,722 0.00 * Granted 3,310,722 0.00 * 932,000 0.32 Forfeited — N/A (386,101 ) 0.00 * Exercised — N/A — N/A Outstanding as of December 31 3,310,722 0.00 * 3,856,621 0.08 Exercisable as of 801,889 0.00 * 1,781,120 0.00 * * Representing amount less than US$0.005. |
Cash flow information (Tables)
Cash flow information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Cash used in operation Abstract [Abstract] | |
Disclosure of Cash used in operation Explanatory [Table Text Block] | (a) Cash used in operation For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Loss before income tax (76,423 ) (255,144 ) (5,627,504 ) Adjustments for: Depreciation of property, plant and equipment (Note 1 3 — 58 210 Amortisation of intangible assets — — 167 Depreciation of right-of-use 3,537 6,515 9,219 Credit loss allowances on financial asset 135 3,205 20,587 Equity-settled listing cost — — 1,912,693 Fair value change loss, net — — 3,156,745 Non-cash — 10,788 213,832 Interest income — — (4,826 ) Interest expense 300 1,097 10,238 Increase in trade receivables (4,824 ) (33,632 ) (111,330 ) Increase in prepayments, other receivables and other assets (14,449 ) (59,178 ) (182,408 ) Increase /(decrease) 34,508 101,097 (7,164 ) Increase in contract liabilities 276 6,080 24,019 Cash used in operations (56,940 ) (219,114 ) (585,522 ) Interest received — — 4,826 Net cash used in operating activities (56,940 ) (219,114 ) (580,696 ) |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Disclosure of maturity analysis of operating lease payments | The future aggregate minimum lease payments under short-term leases exempted to be recognized as lease liabilities are as follows: For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Within one year — 5,645 3,530 Total — 5,645 3,530 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text Block [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, 2021 and 2022. For the year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Short-term employee benefits 1,056 2,692 2,694 Share-based compensation — — 123,383 1,056 2,692 126,077 |
Corporate information - Summary
Corporate information - Summary of Subsidiaries (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Kuaidian Power (Beijing) New Energy Technology Co., Ltd. | ||
Disclosure of subsidiaries [line items] | ||
Name of entity | Kuaidian Power Beijing | |
Place of incorporation and kind of legal entity | Beijing, China Limited liability company | |
Date of incorporation/ establishment | Aug. 20, 2019 | |
Ownership interest held by the Group | 100% | 100% |
Principal activities | Online EV charging solutions, innovative and other businesses | |
Beijing Chezhubang New Energy Technology Co., Ltd. | ||
Disclosure of subsidiaries [line items] | ||
Name of entity | Beijing Chezhubang | |
Place of incorporation and kind of legal entity | Beijing, China Limited liability company | |
Date of incorporation/ establishment | Jul. 18, 2018 | |
Ownership interest held by the Group | 100% | 100% |
Principal activities | Online EV charging solutions | |
Zhidian Youtong Technology Co., Ltd. | ||
Disclosure of subsidiaries [line items] | ||
Name of entity | Zhidian Youtong | |
Place of incorporation and kind of legal entity | Shandong, China Limited liability company | |
Date of incorporation/ establishment | Sep. 27, 2020 | |
Ownership interest held by the Group | 100% | 100% |
Principal activities | Offline EV charging solutions | |
Anji Zhidian Technology Co Ltd [Member] | ||
Disclosure of subsidiaries [line items] | ||
Name of entity | Anji Zhidian | |
Place of incorporation and kind of legal entity | Zhejiang, China Limited liability company | |
Date of incorporation/ establishment | Dec. 24, 2021 | |
Ownership interest held by the Group | 100% | 100% |
Principal activities | Online EV charging Solutions | |
Qingdao Intelligent Electronics Technology Co Ltd [Member] | ||
Disclosure of subsidiaries [line items] | ||
Name of entity | Qingdao Intelligent Electronics | |
Place of incorporation and kind of legal entity | Qingdao, China Limited liability company | |
Date of incorporation/ establishment | Jun. 09, 2022 | |
Ownership interest held by the Group | 100% | 100% |
Principal activities | Offline EV charging Solutions | |
Qingdao Hill Matrix New Energy Technology Co., Ltd. | ||
Disclosure of subsidiaries [line items] | ||
Name of entity | QHM New Energy | |
Place of incorporation and kind of legal entity | Shandong, China Limited liability company | |
Date of incorporation/ establishment | Apr. 26, 2021 | |
Ownership interest held by the Group | 100% | 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 | |
Place of incorporation and kind of legal entity | Beijing, China Limited liability company | |
Date of incorporation/ establishment | Feb. 22, 2021 | |
Ownership interest held by the Group | 100% | 100% |
Principal activities | Online EV charging solutions |
Corporate information - Additio
Corporate information - Additional Information (Detail) ¥ in Millions | 1 Months Ended | 12 Months Ended | ||||
Apr. 01, 2022 | Mar. 01, 2022 | Sep. 30, 2021 | Dec. 31, 2022 CNY (¥) | Jun. 10, 2022 shares | Apr. 06, 2022 | |
RISE [Member] | ||||||
Disclosure Of General Information About Financial Statements [Line Items] | ||||||
Consideration transferred, acquisition-date fair value | ¥ 1,892 | |||||
Identifiable assets acquired (liabilities assumed) | 21 | |||||
Combined Entity [Member] | ||||||
Disclosure Of General Information About Financial Statements [Line Items] | ||||||
Amounts recognised for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination | ¥ 1,913 | |||||
Combined Entity [Member] | Dada [Member] | ||||||
Disclosure Of General Information About Financial Statements [Line Items] | ||||||
Percentage of voting equity interests acquired | 93% | |||||
Combined Entity [Member] | RISE [Member] | ||||||
Disclosure Of General Information About Financial Statements [Line Items] | ||||||
Percentage of voting equity interests acquired | 7% | |||||
Number of instruments or interests issued or issuable | shares | 165,791,964 | |||||
Kuaidian Power Beijing [Member] | ||||||
Disclosure Of General Information About Financial Statements [Line Items] | ||||||
Percentage of voting equity interests acquired | 100% | |||||
NAAS Newlink Technology Limited [Member] | Ordinary shares [member] | ||||||
Disclosure Of General Information About Financial Statements [Line Items] | ||||||
Proportion of ownership interest in subsidiary | 75% | |||||
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 [Member] | 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, 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 |
Non-current Liabilities with Covenants—Amendments to IAS 1 [Member] | |
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, 2024 |
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, 2024 |
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 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, 2022 | |
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 |
Furniture and office 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 | 3 years |
Summary of significant accoun_6
Summary of significant accounting policies - Summary of Intangible Assets with Indefinite Useful Life (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Computer software [member] | |
Disclosure of intangible assets with indefinite useful life [line items] | |
Useful life measured as period of time, intangible assets other than goodwill | 5 years |
Summary of significant accoun_7
Summary of significant accounting policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Jan. 26, 2022 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Summary of Significant Accounting Polices [Line Items] | |||||
Lease Term | 12 months | 12 months | |||
Cash Flows From Used In Operating Activities | ¥ (580,696) | $ (84,193) | ¥ (219,114) | ¥ (56,940) | |
Total cash consideration | 556,356 | 80,663 | |||
Payments for share issue costs | 208,700 | ||||
Borrowings | 503,155 | ¥ 0 | |||
Foreign currency translation | ¥ 25,100 | $ 3,600 | |||
Series A convertible redeemable preference shares | |||||
Summary of Significant Accounting Polices [Line Items] | |||||
Total cash consideration | ¥ 556,400 | ||||
Bottom of range [member] | |||||
Summary of Significant Accounting Polices [Line Items] | |||||
Lease Term | 6 months | 6 months | |||
Top of range [member] | |||||
Summary of Significant Accounting Polices [Line Items] | |||||
Lease Term | 5 years | 5 years |
Financial risk management - Add
Financial risk management - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
Jan. 26, 2022 CNY (¥) | Jan. 26, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | ||
Disclosure of detailed information about financial instruments [line items] | |||||||
Total cash consideration | ¥ 556,356 | $ 80,663 | |||||
Borrowings | 503,155 | ¥ 0 | |||||
Listed equity investment | ¥ 129,060 | [1] | |||||
Anji Datacom [Member] | Supplier concentration risk [Member] | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Percentage of Cost of Sales | 33% | 33% | |||||
Contract Term | 5 years | 5 years | |||||
Contract Expiration Date | Mar. 30, 2027 | Mar. 30, 2027 | |||||
Interest rate risk [member] | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Borrowings | ¥ 503,200 | 0 | |||||
Percentage of reasonably possible increase in unobservable input, liabilities | 100% | ||||||
Percentage of reasonably possible decrease in unobservable input, liabilities | 100% | ||||||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, liabilities | ¥ 2,000 | 0 | |||||
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, liabilities | ¥ 2,000 | 0 | |||||
Equity price risk [member] | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Percentage of reasonably possible increase in unobservable input, liabilities | 10% | ||||||
Percentage of reasonably possible decrease in unobservable input, liabilities | 10% | ||||||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, liabilities | ¥ 12,900 | 0 | |||||
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, liabilities | 12,900 | 0 | |||||
Listed equity investment | ¥ 129,100 | ¥ 0 | |||||
Convertible Redeemable Preference Shares [Member] | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Total cash consideration | ¥ 556,400 | $ 87,300 | ¥ 556,400 | ||||
[1]Investment |
Financial risk management - Sum
Financial risk management - Summary of Maturity Analysis for Non-Derivative Financial Liabilities (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | ¥ 49,239 | ¥ 16,872 | ||
Trade payables | 49,239 | $ 7,139 | 16,872 | |
Financial liabilities including in other payables and accruals | 21,282 | 10,663 | ||
Bank borrowings | 556,025 | |||
Lease liabilities | 17,277 | 21,703 | ||
Lease liabilities | 16,180 | 19,633 | ¥ 17,836 | |
Total | 643,823 | 49,238 | ||
Carrying amount [member] | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 49,239 | 16,872 | ||
Financial liabilities including in other payables and accruals | 21,282 | 10,663 | ||
Bank borrowings | 503,155 | |||
Lease liabilities | 16,180 | 19,633 | ||
Total | 589,856 | 47,168 | ||
Less than 1 year | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 49,239 | 16,872 | ||
Financial liabilities including in other payables and accruals | 21,282 | 10,663 | ||
Bank borrowings | 39,440 | |||
Lease liabilities | 7,522 | 8,294 | ||
Total | 117,483 | 35,829 | ||
Between 1 and 2 years | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Bank borrowings | 21,350 | |||
Lease liabilities | 5,751 | 6,205 | ||
Total | 27,101 | 6,205 | ||
Between 2 and 5 years | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Bank borrowings | 495,235 | |||
Lease liabilities | 4,004 | 7,204 | ||
Total | ¥ 499,239 | ¥ 7,204 |
Financial risk management - S_2
Financial risk management - Summary of Analysis of Current ratio and liabilities to assets ratio (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Disclosure In Tabular Form Of Analysis Of Net Debt [Line Items] | |||
Total current assets | ¥ 930,790 | $ 134,952 | ¥ 152,778 |
Total current liabilities | 192,141 | 27,860 | 136,087 |
Total assets | 1,105,935 | 160,346 | 178,092 |
Total liabilities | ¥ 667,061 | $ 96,717 | ¥ 148,653 |
Current Ratio | 4.84 | 4.84 | 1.12 |
Liabilities to assets ratio | 0.6 | 0.6 | 0.83 |
Financial risk management - S_3
Financial risk management - Summary of Fair Value of Financial Instruments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value measurement of assets [line items] | ||
Financial asset at fair value through profit or loss | ¥ 11,753 | ¥ 5,000 |
Financial assets at fair value through other comprehensive income | 129,060 | 0 |
Financial assets, at fair value | 140,813 | ¥ 5,000 |
Recurring fair value measurements | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial asset at fair value through profit or loss | 11,753 | |
Financial assets at fair value through other comprehensive income | 129,060 | |
Financial assets, at fair value | 140,813 | |
Level 1 | Recurring fair value measurements | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through other comprehensive income | 129,060 | |
Financial assets, at fair value | 129,060 | |
Level 3 | Recurring fair value measurements | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial asset at fair value through profit or loss | 11,753 | |
Financial assets, at fair value | ¥ 11,753 |
Financial risk management - S_4
Financial risk management - Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Fair values | ¥ 11,753 | ¥ 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 | 52% | 51% |
Relationship of unobservable inputs to fair value | The higher the expected volatility, the higher the fair value | |
Expected Volatility Measurement Input | Investments Made In The Previous Period [Member] | ||
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 | 65% | |
Relationship of unobservable inputs to fair value | The higher the expected volatility, the higher the fair value | |
Expected Volatility Measurement Input | Level 3 | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Fair values | ¥ 6,753 | ¥ 5,000 |
Expected Volatility Measurement Input | Level 3 | Investments Made In The Previous Period [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Fair values | ¥ 5,000 | |
Discount For Lack Of Marketability | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Unobservable inputs | Discount for lack of marketability (“DLOM”) | |
Change of inputs | 20% | 19% |
Relationship of unobservable inputs to fair value | The higher the DLOM, the lower the fair value | |
Discount For Lack Of Marketability | Investments Made In The Previous Period [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Unobservable inputs | Discount for lack of marketability (“DLOM”) | |
Change of inputs | 27% | |
Relationship of unobservable inputs to fair value | The higher the DLOM, the lower the fair value |
Significant accounting judgme_2
Significant accounting judgments, estimates and assumptions - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Critical Accounting Estimates and Judgements [Line Items] | ||
Gain loss from asset transfer | ¥ 0.9 | |
Selling Expenses [Member] | ||
Disclosure Critical Accounting Estimates and Judgements [Line Items] | ||
Reclassification adjustment on Excess incentive amount | ¥ 119.3 | ¥ 105.8 |
Period One [Member] | ||
Disclosure Critical Accounting Estimates and Judgements [Line Items] | ||
Share based compensation target market capitalization period | 9 years 1 month 17 days | |
Period Two [Member] | ||
Disclosure Critical Accounting Estimates and Judgements [Line Items] | ||
Share based compensation target market capitalization period | 9 years 6 months 10 days |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of Detailed Information of Cash and Cash Equivalents (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) |
Disclosure Of Cash And Cash Equivalents [Line Items] | ||||||
Cash at bank | ¥ 512,453 | ¥ 3,734 | ||||
Deposits held at licensed payment platforms | 898 | 4,755 | ||||
Total | ¥ 513,351 | $ 74,429 | ¥ 8,489 | $ 1,231 | ¥ 3,665 | ¥ 2,124 |
Trade receivables - Summary of
Trade receivables - Summary of Trade Receivables (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Disclosure of Trade Receivables [Line Items] | |||
Trade receivables | ¥ 130,004 | $ 18,849 | ¥ 38,456 |
Trade receivables [Member] | |||
Disclosure of Trade Receivables [Line Items] | |||
Trade receivables | 152,256 | 40,926 | |
Provision on Impairment [Member] | |||
Disclosure of Trade Receivables [Line Items] | |||
Trade receivables | ¥ (22,252) | ¥ (2,470) |
Trade receivables - Summary o_2
Trade receivables - Summary of Aging Analysis of Trade Receivables (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | ¥ 152,256 | ¥ 40,926 |
0 - 90 days [Member] | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 124,736 | 16,472 |
91 - 180 days [Member] | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 1,029 | 16,292 |
181 – 365 days | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 10,480 | 5,473 |
1-2 years | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | 14,852 | ¥ 2,689 |
2 – 3 years | ||
Disclosure of aged analysis of trade receivables [Line Items] | ||
Trade receivables | ¥ 1,159 |
Trade receivables - Additional
Trade receivables - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Trade Receivables [Line Items] | |||
Impairment allowances | ¥ 22,042 | ¥ 6,964 | ¥ 1,304 |
Provisions on impairment | 19,800 | 2,500 | |
Gross carrying amount [member] | |||
Disclosure of Trade Receivables [Line Items] | |||
Impairment allowances | ¥ 12,700 | ¥ 600 |
Trade Receivables - Summary o_3
Trade Receivables - Summary of loss allowance for trade receivables (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | ||
Beginning of the year | ¥ 2,470 | |
Provision for expected credit loss, net | 19,782 | ¥ 2,470 |
End of the year | ¥ 22,252 | ¥ 2,470 |
Trade Receivables - Summary o_4
Trade Receivables - Summary of impairments (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 808,196 | ¥ 81,438 |
Within 1 year | ||
Disclosure of provision matrix [line items] | ||
Expected credit loss rate | 6% | 4% |
Within 1 year | Gross carrying amount [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 133,353 | ¥ 38,237 |
Within 1 year | Impairment allowances [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 8,595 | ¥ 1,666 |
1-2 years | ||
Disclosure of provision matrix [line items] | ||
Expected credit loss rate | 12% | 11% |
1-2 years | Gross carrying amount [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 5,903 | ¥ 2,124 |
1-2 years | Impairment allowances [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 701 | 239 |
2-3 years | ||
Disclosure of provision matrix [line items] | ||
Expected credit loss rate | 84% | |
2-3 years | Gross carrying amount [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 272 | 0 |
2-3 years | Impairment allowances [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 228 | |
Over 3 years | Impairment allowances [member] | ||
Disclosure of provision matrix [line items] | ||
Financial assets | ¥ 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, 2022 | Dec. 31, 2021 |
Disclosure Of Prepayments Other Receivables And Other Assets [Abstract] | ||
Prepayments to charging stations | ¥ 222,276 | ¥ 31,791 |
Prepayments for charging procurement | 35,519 | 5,106 |
Prepayment for rental facility and utilities | 3,166 | 5,615 |
Prepayments for miscellaneous | 1,583 | 2,146 |
Others | 30,369 | 34,098 |
Value-added tax deductible | 2,628 | 32,367 |
Receivables from related parties | 0 | 556 |
Credit loss allowance on other receivables | (6,340) | (5,162) |
Impairment on prepayment | (1,766) | (684) |
Total | ¥ 287,435 | ¥ 105,833 |
Prepayments, other receivable_4
Prepayments, other receivables and other assets - Additional Information (Details) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Prepayments Other Receivables And Other Assets [Line Items] | ||
Credit loss provision on other receivables | ¥ 1.2 | ¥ 3.9 |
Other Receivables [Member] | ||
Disclosure Of Prepayments Other Receivables And Other Assets [Line Items] | ||
Maximum exposure to credit risk of financial assets designated as measured at fair value through profit or loss | 6.3 | 5.2 |
12-month expected credit losses [member] | Other Receivables [Member] | ||
Disclosure Of Prepayments Other Receivables And Other Assets [Line Items] | ||
Maximum exposure to credit risk of financial assets designated as measured at fair value through profit or loss | ¥ 24 | ¥ 29.5 |
Financial instruments by cate_3
Financial instruments by category - Summary of Detailed Information of Category of Financial Instruments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financial asset measured at fair value: | ||
Financial asset at fair value through profit or loss | ¥ 11,753 | ¥ 5,000 |
Financial assets at fair value through other comprehensive income | 129,060 | 0 |
Financial assets, at fair value | 140,813 | 5,000 |
Financial asset measured at amortized costs: | ||
Financial assets at amortised cost | 130,004 | 38,456 |
Total | 808,196 | 81,438 |
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 589,856 | 47,168 |
Interest bearing bank borrowings [member] | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 503,155 | 0 |
Trade payables [Member] | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 49,239 | 16,872 |
Financial liabilities including in other payables and accruals | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 21,282 | 10,663 |
Lease liabilities [Member] | ||
Financial liabilities measured at amortized cost: | ||
Financial liabilities at amortised cost | 16,180 | 19,633 |
Financial assets including in other receivables, prepayments and deposits [member] | ||
Financial asset measured at amortized costs: | ||
Financial assets at amortised cost | 24,028 | 29,493 |
Cash and cash equivalents [Member] | ||
Financial asset measured at amortized costs: | ||
Financial assets at amortised cost | ¥ 513,351 | ¥ 8,489 |
Interest-bearing bank borrowi_3
Interest-bearing bank borrowings - Disclosure of detailed information about borrowings (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Disclosure of detailed information about borrowings [line items] | |||
Current borrowings | ¥ 38,000 | ¥ 0 | |
Non-current portion of non-current borrowings | 465,155 | 0 | |
Borrowings | 503,155 | 0 | |
Changes in liabilities arising from financing activities, Current | 38,000 | ||
Changes in liabilities arising from financing activities, Non-current | 465,155 | ||
Changes in liabilities arising from financing activities | 503,155 | $ 72,951 | |
LPR+80BP | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | ¥ 600,000 | ||
LPR+80BP | Borrowings Due On July First Two Thousand And Twenty Three [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | LPR+80BP | LPR+80BP | |
Maturity | July 1, 2023 | July 1, 2023 | |
Current borrowings | ¥ 20,000 | 0 | |
Changes in liabilities arising from financing activities, Current | ¥ 20,000 | ||
LPR+80BP | Borrowings Due On July First Two Thousand And Twenty Four [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | LPR+80BP | LPR+80BP | |
Maturity | July 1, 2024 | July 1, 2024 | |
Non-current portion of non-current borrowings | ¥ 20,000 | 0 | |
Changes in liabilities arising from financing activities, Non-current | ¥ 20,000 | ||
LPR+80BP | Borrowings Due On June Thirty Two Thousand And Twenty Five [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | LPR+80BP | LPR+80BP | |
Maturity | June 30, 2025 | June 30, 2025 | |
Non-current portion of non-current borrowings | ¥ 445,155 | 0 | |
Changes in liabilities arising from financing activities, Non-current | ¥ 445,155 | ||
LPR+185BP | Borrowings Due On December Twenty Seven Two Thousand And Twenty Three [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | LPR+185BP | LPR+185BP | |
Maturity | December 27, 2023 | December 27, 2023 | |
Current borrowings | ¥ 18,000 | ¥ 0 | |
Changes in liabilities arising from financing activities, Current | ¥ 18,000 |
Interest-bearing bank borrowi_4
Interest-bearing bank borrowings - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [line items] | ||
Banking facility | ¥ 503,155 | ¥ 0 |
LPR+Eighty BP [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Banking facility | 600,000 | |
Notional amount | ¥ 485,000 | |
LPR+Eighty BP [Member] | Borrowings Due On June Thirty Two Thousand And Twenty Five [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings maturity | June 30, 2025 | |
LPR+Eighty BP [Member] | Borrowings Due On July First Two Thousand And Twenty Three [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings maturity | July 1, 2023 | |
Borrowings partially repayable date | Jul. 01, 2023 | |
LPR+Eighty BP [Member] | Borrowings Due On July First Two Thousand And Twenty Four [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings maturity | July 1, 2024 | |
Borrowings partially repayable date | Jul. 01, 2024 | |
LPROne Hundred Eighty five BP [Member] | Borrowings Due On December Twenty Seven Two Thousand And Twenty Three [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings maturity | December 27, 2023 |
Leases - Summary of Right-of-us
Leases - Summary of Right-of-use Assets (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Opening net book amount | ¥ 19,766 | ¥ 18,313 | ||
Additions | 7,263 | 7,968 | ||
Depreciation charge | (9,219) | (6,515) | ¥ (3,537) | |
Revision of a lease term arising from a change in the non-cancellable period of a lease | (780) | |||
Closing net book amount | 17,030 | $ 2,469 | 19,766 | 18,313 |
Cost | 38,333 | 32,319 | ||
Accumulated depreciation | (21,303) | (12,553) | ||
Net book value | 17,030 | 19,766 | 18,313 | |
Office Building [Member] | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Opening net book amount | 13,790 | 18,313 | ||
Additions | 3,154 | |||
Depreciation charge | (4,386) | (4,523) | (3,537) | |
Closing net book amount | 12,558 | 13,790 | 18,313 | |
Cost | 27,505 | 24,351 | ||
Accumulated depreciation | (14,947) | (10,561) | ||
Net book value | 12,558 | 13,790 | ¥ 18,313 | |
Charging Stations [Member] | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Opening net book amount | 5,976 | |||
Additions | 4,109 | 7,968 | ||
Depreciation charge | (4,833) | (1,992) | ||
Revision of a lease term arising from a change in the non-cancellable period of a lease | (780) | |||
Closing net book amount | 4,472 | 5,976 | ||
Cost | 10,828 | 7,968 | ||
Accumulated depreciation | (6,356) | (1,992) | ||
Net book value | ¥ 4,472 | ¥ 5,976 |
Leases - Summary of Lease Items
Leases - Summary of Lease Items Recognized in Combined Statements Of Financial Position (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) |
Right-of-use assets | ||||
Right-of-use assets | ¥ 17,030 | $ 2,469 | ¥ 19,766 | ¥ 18,313 |
Lease liabilities | ||||
Current | 6,853 | 993 | 7,067 | |
Non-current | 9,327 | $ 1,352 | 12,566 | |
Lease liabilities | 16,180 | 19,633 | 17,836 | |
Office buildings [Member] | ||||
Right-of-use assets | ||||
Right-of-use assets | 12,558 | 13,790 | 18,313 | |
Lease liabilities | ||||
Lease liabilities | 12,619 | 13,902 | 17,836 | |
Charging stations [Member] | ||||
Right-of-use assets | ||||
Right-of-use assets | 4,472 | 5,976 | ||
Lease liabilities | ||||
Lease liabilities | ¥ 3,561 | ¥ 5,731 | ¥ 0 |
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, 2022 | 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 | ¥ 9,219 | ¥ 6,515 | ¥ 3,537 |
Interest expense (included in finance cost) | 1,089 | 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) | 9,739 | 3,837 | |
Total | 20,047 | 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 | 4,386 | 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 | ¥ 4,833 | ¥ 1,992 |
Leases - Summary of Cash Outflo
Leases - Summary of Cash Outflows in Financing Activity for Leases (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Principal elements of lease payments | ¥ 6,834 | $ 991 | ¥ 1,881 |
Related interest paid | 388 | 193 | |
Total | ¥ 7,222 | ¥ 2,074 |
Leases - Summary of carrying am
Leases - Summary of carrying amounts of lease liabilities and the movements (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | ¥ 19,633 | ¥ 17,836 | |
New leases | 7,263 | 7,968 | |
Accretion of interest recognised during the year | 1,089 | 1,097 | ¥ 300 |
Payments | (11,008) | (7,268) | |
Revision of a lease term arising from a change in the non-cancellable period of a lease | (797) | ||
Ending balance | 16,180 | 19,633 | 17,836 |
Office Building [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 13,902 | 17,836 | |
New leases | 3,154 | ||
Accretion of interest recognised during the year | 793 | 904 | |
Payments | (5,230) | (4,838) | |
Ending balance | 12,619 | 13,902 | 17,836 |
Charging stations [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 5,731 | 0 | |
New leases | 4,109 | 7,968 | |
Accretion of interest recognised during the year | 296 | 193 | |
Payments | (5,778) | (2,430) | |
Revision of a lease term arising from a change in the non-cancellable period of a lease | (797) | ||
Ending balance | ¥ 3,561 | ¥ 5,731 | ¥ 0 |
Leases - Additional Information
Leases - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Leases [Abstract] | |||
Additions to right-of-use assets | ¥ 7,263 | ¥ 7,968 | |
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16 | 6% | 6% | |
cash outflows in operating activities for leases | ¥ 9,700 | ¥ 3,800 | ¥ 0 |
Financial asset at fair value_5
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, 2022 | Dec. 31, 2021 | |
Disclosure Of Financial Assets At Fair Value Through Profit Or Loss [Line Items] | |||
Investment | ¥ 11,753 | ¥ 5,000 | |
Equity investments [member] | |||
Disclosure Of Financial Assets At Fair Value Through Profit Or Loss [Line Items] | |||
Investment | [1] | ¥ 11,753 | ¥ 5,000 |
[1]Investment |
Financial asset at fair value_6
Financial asset at fair value through profit or loss - Disclosure Of Reconciliation Of Changes In Fair Value Measurement Assets Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | |||
Disclosure of reconciliation of changes in fair value measurement assets | ||||
At the beginning of the year | ¥ 5,000 | |||
At the end of the year | 11,753 | ¥ 5,000 | ||
Equity investments [member] | ||||
Disclosure of reconciliation of changes in fair value measurement assets | ||||
At the beginning of the year | [1] | 5,000 | ||
At the end of the year | [1] | 11,753 | 5,000 | |
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 | [2] | 5,000 | 0 | |
Additions | [3] | 5,000 | 5,000 | |
Fair value change | 1,753 | 0 | ||
At the end of the year | ¥ 11,753 | ¥ 5,000 | [2] | |
[1]Investment[2]During the year ended December 31, 2021, the Group invested in a company engaging in EV charging hardware and technology industry for RMB5.0 million, and there was no fair value change within 2021, and the fair value increased by RMB1.8 million in 2022.[3]During the year ended December 31, 2022, the Group invested in a leading company committed in intelligent in-vehicle system for RMB5.0 million. There was no fair value change during 2022. |
Financial asset at fair value_7
Financial asset at fair value through profit or loss - Disclosure Of Reconciliation Of Changes In Fair Value Measurement Assets Explanatory (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Company Engaging In Insurance 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 | |
Leading Company Committed in Intelligent Invehicle System [Member] | ||
Disclosure of reconciliation of changes in fair value measurement assets | ||
Purchase of interests in investments accounted for using equity method | ¥ 5,000 | |
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 | 1,753 | ¥ 0 |
Financial assets at fair value through profit or loss, category | Equity investments [member] | Company Engaging In Insurance Industry [Member] | ||
Disclosure of reconciliation of changes in fair value measurement assets | ||
Increase in fair value | 1,800 | |
Financial assets at fair value through profit or loss, category | Equity investments [member] | Leading Company Committed in Intelligent Invehicle System [Member] | ||
Disclosure of reconciliation of changes in fair value measurement assets | ||
Purchase of interests in investments accounted for using equity method | ¥ 0 |
Financial asset at fair value_8
Financial asset at fair value through other comprehensive income - Summary of Investment (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [abstract] | |||
Investment | ¥ 129,060 | [1] | |
[1]Investment |
Financial asset at fair value_9
Financial asset at fair value through other comprehensive income - Summary of ordinary shares without significant influence (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | ||||
Disclosure In Tabular Form Of Movement In Financial Assets At Fair Value Through Other Comprehensive Income [Line Items] | |||||
At the beginning of the year | [1] | ||||
At the end of the year | 129,060 | [1] | |||
Investments in equity instruments designated at fair value through other comprehensive income [member] | |||||
Disclosure In Tabular Form Of Movement In Financial Assets At Fair Value Through Other Comprehensive Income [Line Items] | |||||
At the beginning of the year | 0 | 0 | |||
Additions | 139,203 | [2] | 0 | ||
Fair value change | (10,143) | 0 | |||
At the end of the year | ¥ 129,060 | ¥ 0 | |||
[1]Investment[2]During the year ended December 31, 2022, the Group invested in a company engaging in insurance industry for RMB139.2 million, and there was RMB10.1 million of fair value loss within the year. |
Financial asset at fair valu_10
Financial asset at fair value through other comprehensive income - Summary of ordinary shares without significant influence (Detail) (Parenthetical) - Company Engaging In Insurance Industry [Member] ¥ in Millions | 12 Months Ended |
Dec. 31, 2022 CNY (¥) | |
Disclosure In Tabular Form Of Movement In Financial Assets At Fair Value Through Other Comprehensive Income [Line Items] | |
Purchase of financial asset at fair value through other comprehensive income | ¥ 139.2 |
Equity investments [member] | Financial assets at fair value through profit or loss, category [member] | |
Disclosure In Tabular Form Of Movement In Financial Assets At Fair Value Through Other Comprehensive Income [Line Items] | |
Gains (losses) recognised in other comprehensive income including exchange differences, fair value measurement, assets | ¥ (10.1) |
Property, plant and equipment -
Property, plant and equipment - Summary of detailed information about property, plant and equipment (Detail) - 12 months ended Dec. 31, 2022 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | ¥ 548 | |
Ending Balance | 2,600 | $ 377 |
Electronic And Office Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 548 | |
Additions | 2,262 | |
Depreciation during the year | (210) | |
Ending Balance | 2,600 | |
Electronic And Office Equipment [Member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 606 | |
Ending Balance | 2,868 | |
Electronic And Office Equipment [Member] | Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | (58) | |
Ending Balance | ¥ (268) |
Other payables and accruals - S
Other payables and accruals - Schedule Of Other Payables And Accruals (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Disclosure Of Other Current Payables And Accruals Current [Abstract] | |||
Contract liabilities | ¥ 29,384 | ¥ 5,365 | |
Employee benefit payables | 21,155 | 11,403 | |
Accrued expenses | 20,376 | 10,508 | |
Income tax payable | 16,214 | 6,791 | |
Other taxes payable | 5,855 | 58,180 | |
Advances from platform users | 2,185 | 18,401 | |
Deferred income | 1,974 | 1,345 | |
Others | 906 | 155 | |
Total | ¥ 98,049 | $ 14,218 | ¥ 112,148 |
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, 2022 | Dec. 31, 2021 | |
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | ¥ 29,384 | ¥ 5,365 |
Deferred Income Validity Term | 6 months | |
VIP Membership and Coupon Sales | ||
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | ¥ 24,585 | 4,961 |
Customer Advances in Charging Sales | ||
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | 3,869 | 50 |
Others | ||
Disclosure of Other Current Payables and Accruals Current [Line Items] | ||
Contract liabilities | ¥ 930 | ¥ 354 |
Other Payables And Accruals - D
Other Payables And Accruals - Disclosure of Detailed Information About Revenue Recognized (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Other Current Payables And Accruals Current [Abstract] | ||
Amount included in contract liabilities at the beginning of the year | ¥ 5,365 | ¥ 357 |
Share capital and additional _3
Share capital and additional paid in capital - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||
Jan. 26, 2022 CNY (¥) | Jan. 26, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) $ / shares shares | Jun. 30, 2022 CNY (¥) | Jan. 31, 2022 $ / shares shares | Nov. 30, 2020 shares | Jul. 31, 2019 $ / shares shares | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) $ / shares shares | |
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Par value per share | $ / shares | $ 0.001 | $ 0.001 | ||||||||
Proceeds from issue of preference shares | ¥ 556,356 | $ 80,663 | ||||||||
Purchase Price | ¥ 8,624 | $ 1,250 | ||||||||
Common Stock, Voting Rights | Holders of Class A ordinary shares are entitled to one vote per share. Holders of Class B ordinary shares and Class C ordinary shares are entitled to ten votes per share and two votes per share, respectively. | Holders of Class A ordinary shares are entitled to one vote per share. Holders of Class B ordinary shares and Class C ordinary shares are entitled to ten votes per share and two votes per share, respectively. | ||||||||
After Share Subdivision | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Par value per share | $ / shares | $ 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 | 49,995,000 | 400 | 100 | |||||||
Effective share subdivision | 1-to-10,000 | |||||||||
Share price of shares cancelled in exchange | $ / shares | $ 0.0001 | |||||||||
Class A ordinary shares [Member] | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Par value per share | $ / shares | $ 0.01 | $ 0.01 | ||||||||
Shares Issued | 549,430,353 | 549,430,353 | ||||||||
Number of shares received on exchange upon merger | 32.951 | |||||||||
Number of shares authorised | 700,000,000 | 700,000,000 | ||||||||
Number of shares outstanding | 549,430,353 | 549,430,353 | ||||||||
Class A ordinary shares [Member] | Institution Investor [Member] | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Shares Issued | 57,570,524 | 57,570,524 | ||||||||
Purchase Price | ¥ 208,700 | $ 30,000 | ||||||||
Class B ordinary shares [Member] | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Par value per share | $ / shares | $ 0.01 | $ 0.01 | ||||||||
Shares Issued | 248,888,073 | 248,888,073 | ||||||||
Number of shares authorised | 300,000,000 | 300,000,000 | ||||||||
Number of shares outstanding | 248,888,073 | 248,888,073 | ||||||||
Class C ordinary shares [Member] | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Par value per share | $ / shares | $ 0.01 | $ 0.01 | ||||||||
Shares Issued | 1,398,659,699 | 1,398,659,699 | ||||||||
Number of shares authorised | 1,400,000,000 | 1,400,000,000 | ||||||||
Number of shares outstanding | 1,398,659,699 | 1,398,659,699 | ||||||||
Convertible Redeemable Preference Shares [Member] | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Proceeds from issue of preference shares | ¥ 556,400 | $ 87,300 | ¥ 556,400 | |||||||
Other Class or Series [Member] | ||||||||||
Disclosure of changes in combined capital and additional paid in capital | ||||||||||
Number of shares authorised | 100,000,000 | 100,000,000 |
Share capital and additional _4
Share capital and additional paid in capital - Disclosure of changes in combined capital and additional paid in capital (Detail) ¥ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 CNY (¥) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 CNY (¥) shares | Dec. 31, 2020 USD ($) shares | |
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance | ¥ 29,439 | ¥ 14,558 | ¥ 24,073 | |||
Conversion of preferred shares to share capital | (10,143) | |||||
Issuance of share capital | 3,943,584 | |||||
Exercise of option | 5,422 | |||||
Contribution from the controlling shareholder | 27,179 | 264,555 | 68,382 | |||
Share-based payments from the controlling shareholder | 195,669 | |||||
Ending balance | 438,874 | $ 63,629,000 | 29,439 | 14,558 | ||
Issued Capital [member] | ||||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance | 0 | 0 | ||||
Issuance of share capital | 25,910 | |||||
Exercise of option | 219 | |||||
Contribution from the controlling shareholder | 0 | |||||
Ending balance | 146,730 | 0 | ||||
Issued Capital [member] | Common Stock [Member] | ||||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance | ||||||
Stock dividend to the controlling shareholder | 32 | |||||
Conversion of preferred shares to share capital | 21,905 | |||||
Recapitalization upon the Merger | 110,343 | |||||
Deemed issuance of shares upon the Merger transaction | 10,226 | |||||
Issuance of share capital | 4,005 | |||||
Exercise of option | 219 | |||||
Ending balance | 146,730 | |||||
Additional paid-in capital [member] | ||||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance | 423,329 | 147,986 | 79,604 | |||
Issuance of share capital | 3,917,674 | |||||
Exercise of option | 5,203 | |||||
Contribution from the controlling shareholder | 27,179 | 264,555 | 68,382 | |||
Share-based payments from the controlling shareholder | 195,669 | |||||
Ending balance | 6,358,600 | 423,329 | 147,986 | |||
Additional paid-in capital [member] | Common Stock [Member] | ||||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance | 423,329 | 147,986 | 79,604 | |||
Stock dividend to the controlling shareholder | (32) | |||||
Conversion of preferred shares to share capital | 3,712,984 | |||||
Recapitalization upon the Merger | (110,343) | |||||
Deemed issuance of shares upon the Merger transaction | 1,881,758 | |||||
Issuance of share capital | 204,690 | |||||
Exercise of option | 5,203 | |||||
Contribution from the controlling shareholder | 27,179 | 264,555 | 68,382 | |||
Share-based payments from the Company | 195,669 | |||||
Share-based payments from the controlling shareholder | 18,163 | 10,788 | ||||
Ending balance | 6,358,600 | 423,329 | 147,986 | |||
Issued Capital And Additional Paid in Capital | Common Stock [Member] | ||||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance | 423,329 | 147,986 | 79,604 | |||
Conversion of preferred shares to share capital | 3,734,889 | |||||
Deemed issuance of shares upon the Merger transaction | 1,891,984 | |||||
Issuance of share capital | 208,695 | |||||
Exercise of option | 5,422 | |||||
Contribution from the controlling shareholder | 27,179 | 264,555 | 68,382 | |||
Share-based payments from the Company | 195,669 | |||||
Share-based payments from the controlling shareholder | 18,163 | 10,788 | ||||
Ending balance | ¥ 6,505,330 | ¥ 423,329 | ¥ 147,986 | |||
Ordinary shares [member] | Issued Capital [member] | ||||||
DisclosureOfChangesInCombinedCapitalAndAdditionalPaidInCapital [Line Items] | ||||||
Beginning balance (in shares) | shares | 500 | 500 | 500 | 500 | 100 | 100 |
Beginning balance | $ | $ 1 | $ 1 | ||||
Subdivision of shares, shares | shares | 4,500 | 4,500 | ||||
Stock dividend to the controlling shareholder, shares | shares | 49,995,000 | 49,995,000 | 400 | 400 | ||
Stock dividend to the controlling shareholder | $ | $ 5,000 | |||||
Conversion of preferred shares to share capital, shares | shares | 326,976,779 | 326,976,779 | ||||
Conversion of preferred shares to share capital | $ | $ 3,269,768 | |||||
Recapitalization upon the Merger, shares | shares | 1,597,547,772 | 1,597,547,772 | ||||
Recapitalization upon the Merger | $ | $ 16,470,477 | |||||
Deemed issuance of shares upon the Merger transaction, shares | shares | 161,713,040 | 161,713,040 | ||||
Deemed issuance of shares upon the Merger transaction | $ | $ 1,617,130 | |||||
Issuance of share capital, shares | shares | 57,570,524 | 57,570,524 | ||||
Issuance of share capital | $ | $ 575,705 | |||||
Exercise of option, shares | shares | 3,170,010 | 3,170,010 | ||||
Exercise of option | $ | $ 31,700 | |||||
Ending balance (in shares) | shares | 2,196,978,125 | 2,196,978,125 | 500 | 500 | 500 | 500 |
Ending balance | $ | $ 21,969,781 | $ 1 | $ 1 |
Share capital and additional _5
Share capital and additional paid in capital - Disclosure of changes in combined capital and additional paid in capital (Detail) ( Parenthetical) ¥ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 CNY (¥) |
Disclosure of changes in combined capital and additional paid in capital | |||||||
Equity | ¥ 438,874 | $ 63,629,000 | ¥ 29,439 | ¥ 14,558 | ¥ 24,073 | ||
Issued Capital [member] | |||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||
Equity | ¥ | ¥ 146,730 | ¥ 0 | ¥ 0 | ||||
Issued Capital [member] | Ordinary shares [member] | |||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||
Equity | 21,969,781 | $ 1 | $ 1 | ||||
Top of range [member] | Issued Capital [member] | Ordinary shares [member] | |||||||
Disclosure of changes in combined capital and additional paid in capital | |||||||
Equity | $ 1 | $ 1 | $ 1 |
Revenues - Summary of Detailed
Revenues - Summary of Detailed Information about Revenue Explanatory (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure Of Detailed Information About Revenue [Line Items] | ||||
Net Revenues | ¥ 92,814 | $ 13,457 | ¥ 33,453 | ¥ 6,163 |
Online EV Charging Solutions | ||||
Disclosure Of Detailed Information About Revenue [Line Items] | ||||
Revenues | 50,151 | 17,985 | 5,455 | |
Offline EV Charging Solutions | ||||
Disclosure Of Detailed Information About Revenue [Line Items] | ||||
Revenues | 40,554 | 14,611 | 565 | |
Innovative and Other Businesses | ||||
Disclosure Of Detailed Information About Revenue [Line Items] | ||||
Revenues | ¥ 2,109 | ¥ 857 | ¥ 143 |
Other gains, net - Summary of D
Other gains, net - Summary of Detailed Information About Other Gains Losses Net Explanatory (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure Of Other Gains Losses Net [Abstract] | ||||
Non-operating income | ¥ 7,617 | ¥ 138 | ¥ 319 | |
Non-operating expenses | (300) | 0 | 0 | |
Total | ¥ 7,317 | $ 1,061 | ¥ 138 | ¥ 319 |
Operating costs and expenses _3
Operating costs and expenses by nature - Summary of Detailed Information about Operating Costs and Expenses by Nature Explanatory (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure of Operating Costs and Expenses by Nature [Abstract] | ||||
Equity-settled listing costs | ¥ 1,912,693 | ¥ 0 | ¥ 0 | |
Employee benefit expenses | 341,608 | 112,102 | 40,402 | |
Professional service fee | 66,657 | 8,787 | 208 | |
Incentives through network | 120,461 | 105,939 | 23,338 | |
Promotion and advertising | 24,492 | 16,675 | 5,132 | |
Offline service costs | 21,936 | 7,965 | 0 | |
Traveling, entertainment and general office expenses | 15,879 | 7,640 | 3,106 | |
Rental, facility and utilities | 12,500 | 4,277 | 669 | |
Depreciation of right-of-use assets | 9,219 | 6,515 | 3,537 | |
Bandwidth expenses and server custody costs | 4,914 | 4,331 | 2,760 | |
Payment processing cost | 2,427 | 3,893 | 1,695 | |
Impairment loss on trade and other receivables | 22,042 | 6,964 | 1,304 | |
Online service costs | 352 | 1,250 | 6 | |
Others | 5,435 | 1,300 | 448 | |
Total operating costs and expenses | ¥ 2,560,615 | $ 371,255 | ¥ 287,638 | ¥ 82,605 |
Fair value Changes - Additional
Fair value Changes - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of fair value measurement of equity [abstract] | ||
Fair value loss | ¥ 3,158.5 | ¥ 0 |
Finance costs - Summary of Deta
Finance costs - Summary of Detailed Information About Finance Income Expense Explanatory (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure Of Finance Income Expense [Abstract] | ||||
Interest expense from bank loans | ¥ (9,149) | |||
Interest expense from lease liabilities | (1,089) | ¥ (1,097) | ¥ (300) | |
Others | (37) | |||
Finance costs | ¥ (10,275) | $ (1,490) | ¥ (1,097) | ¥ (300) |
Taxation - Summary of reconcili
Taxation - Summary of reconciliation of income tax (expenses) benefits (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | ||||
Current income tax | ¥ 9,423 | ¥ 5,318 | ¥ 1,474 | |
Deferred income tax | 438 | 0 | 0 | |
Loss before income tax | (5,627,504) | $ (815,912) | (255,144) | (76,423) |
Tax calculated at statutory income tax rate of 25% in mainland China | (1,406,876) | (63,786) | (19,106) | |
Effect of differing tax rates in different jurisdictions | 1,272,471 | 0 | 0 | |
Tax Effects Of [Abstract] | ||||
Expenses not deductible for income tax purposes | 137,862 | 1,069 | 469 | |
Effect of tax loss not recognised | 37,283 | 68,035 | 20,111 | |
Utilization of tax loss previously not recognized | (30,879) | 0 | 0 | |
Total | ¥ 9,861 | $ 1,430 | ¥ 5,318 | ¥ 1,474 |
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, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Disclosure Of Reconciliation of Income Tax (expenses)Benefits [Line Items] | |||||
Deferred income tax liability | ¥ 0 | ||||
Total unrecorded tax losses carry forwards | 231,400 | ¥ 203,800 | |||
Unused tax losses with indefinite life | ¥ 6,100 | ¥ 0 | |||
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% |
Loss per share - Earning per sh
Loss per share - Earning per share (Detail) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 $ / shares | Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2021 CNY (¥) ¥ / shares shares | Dec. 31, 2020 CNY (¥) ¥ / shares shares | |
Earnings per share [line items] | ||||
Net loss attributable to equity holders of the Company | ¥ | ¥ 5,637,365 | ¥ 260,462 | ¥ 77,897 | |
Weighted average number of ordinary shares in issue | shares | 1,927,746,700 | 1,647,547,772 | 1,647,547,772 | |
Basic loss per share (RMB per share) | (per share) | $ 0.42 | ¥ 2.92 | ¥ 0.16 | ¥ 0.05 |
Share-based payments - Disclosu
Share-based payments - Disclosure of Number and Weighted Average Exercise Prices of Share Options (Detail) | 12 Months Ended | |||||
Jan. 01, 2022 shares $ / shares | Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / shares | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of options, Beginning balance | [1] | 0 | 0 | |||
Number of option, Granted | 3,966,704 | 2,399,810 | [1] | |||
Number of options, Forfeited | [1] | (157,310) | ||||
Number of options, Exercised | 3,170,010 | |||||
Number of options,Assumed from 2022 Share Incentive Plan | [1] | 207,871,928 | ||||
Number of options, Ending balance | [1] | 210,114,428 | 0 | |||
Number of options, Exercisable ending balance | [1] | 104,527,155 | ||||
Weighted average exercise prices, Granted | $ / shares | $ 0.15 | |||||
Weighted average exercise prices, Forfeited | $ / shares | 0.01 | |||||
Weighted average exercise prices,Assumed from 2022 Share Incentive Plan | $ / shares | [2] | 0 | ||||
Weighted average exercise prices, Ending balance | $ / shares | [2] | 0 | ||||
Weighted average exercise prices, Excercisable ending balance | $ / shares | [2] | $ 0 | ||||
Dada Share Incentive Plans [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of options, Beginning balance | 0 | 0 | ||||
Number of option, Granted | 228,189,750 | |||||
Number of options, Forfeited | (20,317,822) | |||||
Number of options, Exercised | 0 | |||||
Number of options, Carried over to New 2022 Share Incentive Plans | 207,871,928 | |||||
Number of options, Ending balance | 0 | 0 | ||||
Weighted average exercise prices, Granted | $ / shares | [2] | $ 0 | ||||
Weighted average exercise prices, Forfeited | $ / shares | [2] | $ 0 | ||||
Weighted average exercise prices, Carried over to New 2022 Share Incentive Plans | [2] | 0 | ||||
Newlink Share Incentive Plan [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of options, Beginning balance | 3,310,722 | 3,310,722 | ||||
Number of option, Granted | 932,000 | 3,310,722 | ||||
Number of options, Forfeited | (386,101) | |||||
Number of options, Ending balance | 3,856,621 | 3,310,722 | ||||
Number of options, Exercisable ending balance | 1,781,120 | 801,889 | ||||
Weighted average exercise prices, Beginning balance | $ / shares | [2] | $ 0 | $ 0 | |||
Weighted average exercise prices, Granted | $ / shares | 0.32 | $ 0 | [2] | |||
Weighted average exercise prices, Forfeited | $ / shares | [2] | 0 | ||||
Weighted average exercise prices, Ending balance | $ / shares | 0.08 | 0 | [2] | |||
Weighted average exercise prices, Excercisable ending balance | $ / shares | [2] | $ 0 | $ 0 | |||
[1]the option to purchase ordinary shares of NaaS that was outstanding immediately prior to June 10, 2022 was converted into an option to purchase a number of Class A ordinary shares at a conversion ratio of 32.951.[2]Representing amount less than US$0.005 |
Share-based payments - Disclo_2
Share-based payments - Disclosure of Number and Weighted Average Exercise Prices of Share Options (Detail) (Parenthetical) | Dec. 31, 2022 shares |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Threshold limit for weighted average exercise price | 0.005 |
Share-based payments - Disclo_3
Share-based payments - Disclosure of Detailed Information About Models Used for the Valuation of the Share Options (Detail) | 12 Months Ended |
Dec. 31, 2022 USD ($) yr $ / shares | |
Binomial [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Weighted average fair values at the measurement date | $ | $ 0.35 |
Expected life of share options (years) | 10 |
Weighted average share price | $ / shares | $ 0.43 |
Binomial [Member] | Dada Share Incentive Plans [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Weighted average fair values at the measurement date | $ | $ 0.27 |
Expected life of share options (years) | 10 |
Weighted average share price | $ / shares | $ 0.28 |
Monte Carlo [Member] | Dada Share Incentive Plans [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Weighted average fair values at the measurement date | $ | $ 0.03 |
Expected volatility (%) | 63.11% |
Risk–free interest rate (%) | 2.14% |
Weighted average share price | $ / shares | $ 0.24 |
Top of range [member] | Binomial [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Expected volatility (%) | 67.14% |
Risk–free interest rate (%) | 3.83% |
Top of range [member] | Binomial [Member] | Dada Share Incentive Plans [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Expected volatility (%) | 67.38% |
Risk–free interest rate (%) | 3.72% |
Top of range [member] | Monte Carlo [Member] | Dada Share Incentive Plans [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Expected life of share options (years) | 9.53 |
Bottom of range [member] | Binomial [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Expected volatility (%) | 67.09% |
Bottom of range [member] | Binomial [Member] | Dada Share Incentive Plans [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Expected volatility (%) | 64.78% |
Risk–free interest rate (%) | 1.81% |
Bottom of range [member] | Monte Carlo [Member] | Dada Share Incentive Plans [Member] | |
Disclosure Of Models Used For The Valuation Of The Share Options [Line Items] | |
Expected life of share options (years) | 9.13 |
Share-based payments - Disclo_4
Share-based payments - Disclosure of Detailed Information Expense from Share Based Payment Transactions (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Cost of revenues | ¥ 86,647 | $ 12,563 | ¥ 29,587 | ¥ 6,547 |
Selling and marketing expenses | 241,430 | 35,004 | 193,340 | 46,458 |
Administrative expenses | 2,195,981 | 318,388 | 34,458 | 11,956 |
Research and development expenses | 36,557 | $ 5,300 | 30,253 | ¥ 17,644 |
Newlink Share Incentive Plan [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Cost of revenues | 5,322 | 82 | ||
Selling and marketing expenses | 27,846 | 3,896 | ||
Administrative expenses | 170,145 | 6,323 | ||
Research and development expenses | 10,519 | 487 | ||
Total | ¥ 213,832 | ¥ 10,788 |
Share-based payments - Addition
Share-based payments - Additional Information (Detail) | 1 Months Ended | 7 Months Ended | 12 Months Ended | ||||||
Jun. 10, 2022 shares | Mar. 18, 2022 | Jan. 01, 2022 shares | Jan. 31, 2022 $ / shares shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares $ / shares | Dec. 31, 2021 USD ($) shares | Sep. 30, 2022 $ / shares | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Outstanding granted share options | 3,966,704 | 2,399,810 | [1] | ||||||
Share options exercised | 3,170,010 | ||||||||
Contractual term | 9 years 1 month 6 days | ||||||||
Vesting period | 3 years | ||||||||
Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Weighted average fair value of options granted | $ | $ 0.35 | $ 0.35 | |||||||
2022 Share Incentive Plan of NaaS [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Outstanding granted share options | 195,763,865 | ||||||||
Percentage of number of shares issued and outstanding | 1% | ||||||||
Term of options granted for share-based payment arrangement | 10 years | ||||||||
Contractual term | 10 years | ||||||||
Vesting period | 5 years | ||||||||
ESOP Conversion [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Weighted average fair value of options granted | $ | $ 0.2 | $ 0.2 | |||||||
Dada Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Term of options granted for share-based payment arrangement | 10 years | ||||||||
Percentage Of market capitalization of equity securities | 100% | ||||||||
Dada Share Incentive Plan [Member] | Market Conditions [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Vesting period | 9.13 year | ||||||||
Dada Share Incentive Plan [Member] | Sharebased Payment Expense [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Vesting period | 9.53 year | ||||||||
Dada Share Incentive Plan [Member] | Director [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Percentage Of Share Options Vesting Based On Market Condition | 25% | ||||||||
Dada Share Incentive Plan [Member] | Executive Officer [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Percentage Of Share Options Vesting Based On Market Condition | 25% | ||||||||
Newlink Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Contractual term | 9 years 29 days | ||||||||
Newlink Share Incentive Plan [Member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Weighted average fair value of options granted | $ | $ 2.9 | $ 2.9 | $ 2.28 | ||||||
2022 Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Vesting period | 3 to 5 years | ||||||||
RISE Share Incentive Plans [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Weighted average exercise price | $ / shares | $ 0.25 | ||||||||
NAAS Dada Share Incentive Plan [Member] | Director [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Percentage of share options vesting on completion of merger | 50% | ||||||||
Class A ordinary shares [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Ordinary shares conversion ratio | 32.951 | ||||||||
Class A ordinary shares [Member] | Dada Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Number of shares issued | 224,665,915 | ||||||||
Ordinary shares conversion ratio | 32.951 | ||||||||
Ordinary shares [member] | 2022 Share Incentive Plan of NaaS [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Number of shares issued | 224,665,915 | 224,665,915 | |||||||
Top of range [member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Expected volatility, share options granted | 67.14% | ||||||||
Risk free interest rate, share options granted | 3.83% | ||||||||
Top of range [member] | 2022 Share Incentive Plan of NaaS [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price of outstanding share options | $ / shares | $ 0.3 | ||||||||
Top of range [member] | Dada Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price of outstanding share options | $ / shares | $ 0.3 | ||||||||
Top of range [member] | Newlink Share Incentive Plan [Member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Expected volatility, share options granted | 51.93% | ||||||||
Risk free interest rate, share options granted | 3.88% | ||||||||
Top of range [member] | Class A ordinary shares [Member] | 2022 Share Incentive Plan of NaaS [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Number of shares issued | 249,770,760 | ||||||||
Bottom of range [member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Expected volatility, share options granted | 67.09% | ||||||||
Bottom of range [member] | 2022 Share Incentive Plan of NaaS [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price of outstanding share options | $ / shares | $ 0.0001 | ||||||||
Bottom of range [member] | Dada Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price of outstanding share options | $ / shares | $ 0.000003 | ||||||||
Bottom of range [member] | Newlink Share Incentive Plan [Member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Expected volatility, share options granted | 48.03% | ||||||||
RISE Share Incentive Plans [Member] | Class A ordinary shares [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Number of shares issued | 3,170,010 | 3,170,010 | |||||||
Newlink Share Incentive Plan [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Outstanding granted share options | 932,000 | 3,310,722 | |||||||
Newlink Share Incentive Plan [Member] | Top of range [member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Expected volatility, share options granted | 49.66% | ||||||||
Risk free interest rate, share options granted | 1.49% | ||||||||
Newlink Share Incentive Plan [Member] | Bottom of range [member] | Binomial [Member] | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Expected volatility, share options granted | 48.36% | ||||||||
Risk free interest rate, share options granted | 1.81% | 1.30% | |||||||
[1]the option to purchase ordinary shares of NaaS that was outstanding immediately prior to June 10, 2022 was converted into an option to purchase a number of Class A ordinary shares at a conversion ratio of 32.951. |
Cash flow information - Cash u
Cash flow information - Cash used in operation Explanatory (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure of Cash used in operation Abstract [Abstract] | ||||
Loss before income tax | ¥ (5,627,504) | $ (815,912) | ¥ (255,144) | ¥ (76,423) |
Adjustments for: | ||||
Depreciation of property, plant and equipment | 210 | 58 | 0 | |
Amortisation of intangible assets | 167 | |||
Depreciation of right-of-use assets | 9,219 | 6,515 | 3,537 | |
Credit loss allowances on financial asset | 20,587 | 3,205 | 135 | |
Equity-settled listing cost | 1,912,693 | |||
Fair value change loss, net | 3,156,745 | |||
Non-cash employee benefits expense—share based payments | 213,832 | 10,788 | ||
interest income | (4,826) | |||
interest expense | 10,238 | 1,097 | 300 | |
Increase in trade receivables | (111,330) | (33,632) | (4,824) | |
Increase in prepayments, other receivables and other assets | (182,408) | (59,178) | (14,449) | |
Increase/(decrease) in trade and other payables | (7,164) | 101,097 | 34,508 | |
Increase in contract liabilities | 24,019 | 6,080 | 276 | |
Cash used in operations | (585,522) | (84,893) | (219,114) | (56,940) |
Interest received | 4,826 | 700 | ||
Net cash used in operating activities | ¥ (580,696) | $ (84,193) | ¥ (219,114) | ¥ (56,940) |
Cash flow information - Additio
Cash flow information - Additional information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Cash Flow Information [Line Items] | ||
Additions to right-of-use assets | ¥ 7,263 | ¥ 7,968 |
Newlink Technology Limited [Member] | ||
Disclosure of Cash Flow Information [Line Items] | ||
Cash advances and loans from related parties | 27,200 | 264,600 |
Office Building [Member] | ||
Disclosure of Cash Flow Information [Line Items] | ||
Additions to right-of-use assets | 3,154 | |
Office Building [Member] | Non-cash transactions [Member] | ||
Disclosure of Cash Flow Information [Line Items] | ||
Additions to right-of-use assets | 7,300 | 8,000 |
Charging stations [Member] | ||
Disclosure of Cash Flow Information [Line Items] | ||
Additions to right-of-use assets | 4,109 | 7,968 |
Charging stations [Member] | Non-cash transactions [Member] | ||
Disclosure of Cash Flow Information [Line Items] | ||
Additions to right-of-use assets | ¥ 7,300 | ¥ 8,000 |
Commitments - Summary of maturi
Commitments - Summary of maturity analysis of operating lease payments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis of operating lease payments [line items] | |||
Undiscounted Operating Lease Payments To Be Paid | ¥ 3,530 | ¥ 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 | ¥ 3,530 | ¥ 5,645 | ¥ 0 |
Contingencies - (Additional Inf
Contingencies - (Additional Information) (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Text Block [Abstract] | ||
Loss contingency, damages sought value | ¥ 0 | ¥ 0 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Contribution from a shareholder | ¥ 27,179 | ¥ 264,555 | ¥ 68,382 |
Share-based payments from the controlling shareholder | 195,669 | ||
Additional paid-in capital [member] | |||
Contribution from a shareholder | 27,179 | 264,555 | ¥ 68,382 |
Share-based payments from the controlling shareholder | 195,669 | ||
Newlink Technology Limited [Member] | |||
Contribution from a shareholder | 27,200 | ||
Payments made by related party on behalf of entity | 53,900 | ||
Cash repayments of advances and loans from related parties | 26,700 | ||
Newlink Technology Limited [Member] | Additional paid-in capital [member] | |||
Contribution from a shareholder | 27,200 | 264,600 | |
Share-based payments from the controlling shareholder | 18,200 | ¥ 10,700 | |
Payroll and nonpayroll labor expenses [Member] | Newlink Technology Limited [Member] | |||
Payments made by related party on behalf of entity | 31,100 | ||
Rental Fees [Member] | Newlink Technology Limited [Member] | |||
Payments made by related party on behalf of entity | 4,100 | ||
Other Expenses [Member] | Newlink Technology Limited [Member] | |||
Payments made by related party on behalf of entity | ¥ 18,700 |
Related party transactions - Su
Related party transactions - Summary of transactions between related parties (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | |||
Short-term employee benefits | ¥ 2,694 | ¥ 2,692 | ¥ 1,056 |
Share-based compensation | 123,383 | ||
Total | ¥ 126,077 | ¥ 2,692 | ¥ 1,056 |
Event occurring after the rep_2
Event occurring after the reporting period - Additional Information (Detail) ¥ in Millions | Jan. 31, 2023 CNY (¥) |
Events after Reporting Period [Member] | Ev manufacurer and energy company [Member] | Financial assets at fair value through other comprehensive income, category [member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Purchase of interests in investments accounted for using equity method | ¥ 16.9 |