Qutoutiao (QTTOY) 20-F 15 May 24 2023 FY Annual report (foreign) Financial data

Cover

Cover - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-38644
Entity Registrant Name	Qutoutiao Inc.
Entity Central Index Key	0001733298
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Building No. 2, Shanghai Pudong Software Park
Entity Address, Address Line Two	519 Yi De Road, Pudong New Area
Entity Address, City or Town	Shanghai
Entity Address, Country	CN
Entity Address, Postal Zip Code	200124
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Shandong Haoxin Certified Public Accountants Co., Ltd.	PricewaterhouseCoopers Zhong Tian LLP
Auditor Firm ID	5035	1424
Auditor Location	Weifang, People’s Republic of China	Shanghai, the People’s Republic of China
Common Class A [Member]
Entity Addresses [Line Items]
No Trading Symbol Flag	true
Title of 12(g) Security	Class A Ordinary Shares, par value US$0.0001 per share
Entity Common Stock, Shares Outstanding	46,920,018
ADR [Member]
Entity Addresses [Line Items]
No Trading Symbol Flag	true
Title of 12(g) Security	American Depositary Shares, every two representing five Class A ordinary shares
Common Class B [Member]
Entity Addresses [Line Items]
Entity Common Stock, Shares Outstanding	32,937,193
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	Building No. 2, Shanghai Pudong Software Park
Entity Address, Address Line Two	519 Yi De Road, Pudong New Area
Entity Address, City or Town	Shanghai
Entity Address, Country	CN
Entity Address, Postal Zip Code	200124
City Area Code	+86-21
Local Phone Number	5889-0398
Contact Personnel Name	Mr. Bing Xu
Contact Personnel Email Address	ir@qutoutiao.net

Consolidated Balance Sheets

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)		Dec. 31, 2022 CNY (¥)
Current assets:
Cash and cash equivalents	$ 10,514	¥ 74,648		¥ 122,801
Restricted cash	2,403	17,100		7,600
Short-term investments				26,402
Accounts receivable, net	10,362	73,570		117,409
Prepayments and other current assets	19,427	137,933		158,811
Total current assets	49,155	348,996		481,825
Non-current assets:
Property and equipment, net	71	504		5,013
Right-of-use assets, net	793	5,633		21,879
Intangible assets	7,091	50,344		62,649
Goodwill	1,024	7,268		7,268
Other non-current assets	94	666		2,902
Total non-current assets	9,073	64,415		99,711
Total assets	58,228	413,411		581,536
Current liabilities (including current liabilities of the consolidated variable interest entity(“VIEs”) and its subsidiaries without recourse to the Company amounting to RMB811,303 and RMB684,660 as of December 31, 2022 and December 31, 2023, respectively):
Short-term borrowings	53,462	379,573		394,994
Registered users' loyalty payable	1,953	13,863		29,773
Advance from customers and deferred revenue	7,973	56,610		48,706
Salary and welfare payable	5,277	37,466		59,561
Tax payable	5,697	40,448		40,474
Lease liabilities, current	339	2,407		15,083
Accrued liabilities related to users' loyalty programs	4,717	33,500		64,589
Accrued liabilities and other current liabilities	34,344	243,843		336,262
Total current liabilities	113,784	807,853		990,034
Non-current liabilities (including non-current liabilities of the consolidated variable interest entity(“VIEs”) and its subsidiaries without recourse to the Company amounting to RMB7,599 and RMB3,366, as of December 31, 2022 and December 31, 2023, respectively):
Convertible loan	273,924	1,944,834		1,746,188
Lease liabilities, non-current	474	3,366		7,599
Deferred tax liabilities	1,636	11,616		14,019
Non-current liabilities	276,034	1,959,816		1,767,806
Total liabilities	389,818	2,767,669		2,757,840
Commitments and contingencies
Mezzanine equity:
Redeemable non-controlling interests	222,979	1,583,130		1,414,435
Shareholders’ deficit:
Additional paid-in capital	716,456	5,086,766		5,049,458
Treasury stock (US$0.0001 par value; 4,085,608 and 4,085,608 shares as of December 31, 2022 and 2023, respectively)	(20,033)	(142,229)		(142,229)
Accumulated other comprehensive income	(22,183)	(157,502)		(102,834)
Accumulated deficit	(1,228,816)	(8,724,500)		(8,395,184)
Total Qutoutiao Inc. shareholders' deficit	(554,569)	(3,937,388)		(3,590,739)
Total liabilities, mezzanine equity and shareholders' deficit	58,228	413,411		581,536
Common Class A [Member]
Shareholders’ deficit:
Common stock, value	4	26		26
Common Class B [Member]
Shareholders’ deficit:
Common stock, value	3	24		24
Related Party [Member]
Current assets:
Amounts due from related parties	6,449	45,787	[1]	48,802	[1]
Current liabilities (including current liabilities of the consolidated variable interest entity(“VIEs”) and its subsidiaries without recourse to the Company amounting to RMB811,303 and RMB684,660 as of December 31, 2022 and December 31, 2023, respectively):
Amounts due to a related party	$ 22	¥ 154		¥ 592
[1]For the years ended December 31, 2021, 2022 and 2023, the service fee of RMB39.8 million, RMB2.5 million and nil million charged to related parties represents advertising and marketing services provided to companies under the common control of the founder, to help promote these companies’ online applications, which were developed in late 2018. As of December 31, 2022 and 2023, the amounts due from related parties that pertains to accounts receivable from related party revenues generated was RMB48.8 million and RMB45.8 million respectively. Although the balance as of December 31, 2023 is overdue, as these companies are under the common control of the founder and they have demonstrated an ability to continuously pay off their balances, the Company did not view this delay in payment as a sign of collectability risk.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2022 CNY (¥) shares
Current liabilities	¥ 807,853	¥ 990,034
Non-current liabilities	¥ 1,959,816	¥ 1,767,806
Treasury Stock, Common, Shares	4,085,608
Common Class A [Member]
Ordinary shares, shares authorized	50,000,000	50,000,000
Ordinary shares, shares, issued	42,812,245	42,812,245
Ordinary shares, shares, outstanding	38,726,637	38,726,637
Common Class B [Member]
Ordinary shares, shares authorized	34,248,442	34,248,442
Ordinary shares, shares, issued	32,937,193	32,937,193
Ordinary shares, shares, outstanding	32,937,193	32,937,193
Variable Interest Entity, Primary Beneficiary [Member]
Current liabilities | ¥	¥ 684,660	¥ 811,303
Non-current liabilities | ¥	¥ 3,366	¥ 7,599

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Net revenues	$ 105,011	¥ 745,557	¥ 1,083,045	¥ 4,339,603
Cost of revenues	(58,532)	(415,568)	(548,043)	(1,068,340)
Cost of revenues-related parties	(49)	(345)	(14,564)	(103,286)
Gross profit	46,430	329,644	520,438	3,167,977
Operating expenses:
Research and development expenses	(15,013)	(106,592)	(184,604)	(551,612)
Sales and marketing expenses	(26,551)	(188,511)	(552,771)	(3,467,933)
Sales and marketing expenses-related parties	(27)	(189)	(7,945)	(15,840)
General and administrative expenses	(7,868)	(55,853)	(155,445)	(431,913)
Total operating expenses	(49,459)	(351,145)	(900,765)	(4,467,298)
Other operating income	2,762	19,607	61,829	106,098
Loss from operations	(267)	(1,894)	(318,498)	(1,193,223)
Interest income	17	118	1,370	3,174
Interest expense	(26,169)	(185,794)	(468,612)	(35,477)
Foreign exchange related gains (loss), net	(14)	(102)	(903)	(1)
Investment loss including impairment	380	2,700	(45,877)	(36,041)
Other income/(expenses), net	(333)	(2,367)	(81,879)	27,637
Loss before income taxes	(26,386)	(187,339)	(914,399)	(1,233,931)
Income tax benefit/(expense)	285	2,026	1,048	(3,050)
Equity in loss of affiliate companies			(1,416)	(3,195)
Net loss	(26,101)	(185,300)	(914,767)	(1,240,176)
Net loss attributable to non-controlling interests				559
Net loss attributable to Qutoutiao Inc.	(26,101)	(185,313)	(914,767)	(1,239,617)
Accretion to redemption value of convertible redeemable preferred shares of a subsidiary	(20,278)	(143,976)	(124,677)	(108,896)
Net loss attributable to Qutoutiao Inc.' s ordinary shareholders	(46,379)	(329,289)	(1,039,444)	(1,348,513)
Net loss	(26,101)	(185,300)	(914,767)	(1,240,176)
Other comprehensive income/(loss)
Foreign currency translation adjustment, net of nil tax	(7,700)	(54,668)	(231,844)	44,690
Total comprehensive loss	(33,801)	(239,981)	(1,146,611)	(1,195,486)
Comprehensive loss attributable to non-controlling interests				559
Comprehensive loss attributable to Qutoutiao Inc.	$ (33,801)	¥ (239,981)	¥ (1,146,611)	¥ (1,194,927)
Net loss per share attributable to Qutoutiao Inc.’s ordinary shareholders
Net loss per share, basic | (per share)	$ (0.61)	¥ (4.3)	¥ (13.56)	¥ (17.80)
Net loss per share, diluted | (per share)	$ (0.61)	¥ (4.3)	¥ (13.56)	¥ (17.80)
Weighted average number of ordinary shares , basic	76,631,037	76,631,037	76,629,816	75,767,532
Weighted average number of ordinary shares , diluted	76,631,037	76,631,037	76,629,816	75,767,532
Advertising and Marketing [Member]
Net revenues	$ 80,220	¥ 569,552	¥ 836,926	¥ 4,050,120
Advertising and Marketing Revenue - Related Parties [Member]
Net revenues	3	17	2,451	40,263
Other Revenue Member]
Net revenues	$ 24,788	¥ 175,988	¥ 243,668	¥ 249,220

Consolidated Statements of Chan

Consolidated Statements of Changes In Shareholders' Deficit - CNY (¥) ¥ in Thousands	Common Stock [Member]	Common Stock [Member] Series A Convertible Redeemable Preferred Stock [Member]	Common Stock [Member] Series B Convertible Redeemable Preferred Stock [Member]	Common Stock [Member] Series C Convertible Redeemable Preferred Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Series A Convertible Redeemable Preferred Stock [Member]	Additional Paid-in Capital [Member] Series B Convertible Redeemable Preferred Stock [Member]	Additional Paid-in Capital [Member] Series C Convertible Redeemable Preferred Stock [Member]	Treasury Stock, Common [Member]	Treasury Stock, Common [Member] Series A Convertible Redeemable Preferred Stock [Member]	Treasury Stock, Common [Member] Series B Convertible Redeemable Preferred Stock [Member]	Treasury Stock, Common [Member] Series C Convertible Redeemable Preferred Stock [Member]	AOCI Attributable to Parent [Member]	AOCI Attributable to Parent [Member] Series A Convertible Redeemable Preferred Stock [Member]	AOCI Attributable to Parent [Member] Series B Convertible Redeemable Preferred Stock [Member]	AOCI Attributable to Parent [Member] Series C Convertible Redeemable Preferred Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member] Series A Convertible Redeemable Preferred Stock [Member]	Retained Earnings [Member] Series B Convertible Redeemable Preferred Stock [Member]	Retained Earnings [Member] Series C Convertible Redeemable Preferred Stock [Member]	Noncontrolling Interest [Member]	Noncontrolling Interest [Member] Series A Convertible Redeemable Preferred Stock [Member]	Noncontrolling Interest [Member] Series B Convertible Redeemable Preferred Stock [Member]	Noncontrolling Interest [Member] Series C Convertible Redeemable Preferred Stock [Member]	Total	Series A Convertible Redeemable Preferred Stock [Member]	Series B Convertible Redeemable Preferred Stock [Member]	Series C Convertible Redeemable Preferred Stock [Member]
Balance, value at Dec. 31, 2020	¥ 47				¥ 4,784,315				¥ (142,229)				¥ 84,320				¥ (6,007,227)				¥ (4,589)				¥ (1,285,363)
Balance, shares at Dec. 31, 2020	68,258,804								7,490,634
Share-based compensation expense (Note 15)					200,186																				200,186
Accretion on convertible redeemable preferred shares of a subsidiary																		¥ (14,089)	¥ (21,726)	¥ (73,081)						¥ (14,089)	¥ (21,726)	¥ (73,081)
Exercise of share options	¥ 3																								¥ 3
Exercise of share options, shares	3,049,281								(3,049,281)																3,049,281
Net loss																	(1,239,617)				(559)				¥ (1,240,176)
Foreign currency translation													44,690												44,690
Acquisition of remaining equity interest of a subsidiary from the non-controlling interests (Note 20)					(5,148)																5,148
Balance, value at Dec. 31, 2021	¥ 50				4,979,353				¥ (142,229)				129,010				(7,355,740)								(2,389,556)
Balance, shares at Dec. 31, 2021	71,308,085								4,441,353
Share-based compensation expense (Note 15)					70,105																				70,105
Accretion on convertible redeemable preferred shares of a subsidiary																		(15,947)	(24,918)	(83,812)						(15,947)	(24,918)	(83,812)
Exercise of share options
Exercise of share options, shares	355,745								(355,745)																355,745
Net loss																	(914,767)								¥ (914,767)
Foreign currency translation													(231,844)												(231,844)
Balance, value at Dec. 31, 2022	¥ 50				5,049,458				¥ (142,229)				(102,834)				(8,395,184)								(3,590,739)
Balance, shares at Dec. 31, 2022	71,663,830								4,085,608
Ending balance, shares at Dec. 31, 2022	71,663,830								4,085,608
Share-based compensation expense (Note 15)					37,308																				37,308
Accretion on convertible redeemable preferred shares of a subsidiary																		¥ (18,370)	¥ (28,736)	¥ (96,870)						¥ (18,370)	¥ (28,736)	¥ (96,870)
Exercise of share options
Net loss																	185,313								185,313
Foreign currency translation													(54,668)												(54,668)
Balance, value at Dec. 31, 2023	¥ 50				¥ 5,086,766				¥ (142,229)				¥ (157,502)				¥ (8,724,473)								¥ (3,937,388)
Ending balance, shares at Dec. 31, 2023	71,663,830								4,085,608

Consolidated Statements of Cash

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Cash flows from operating activities
Net loss	$ (26,101)	¥ (185,300)	¥ (914,767)	¥ (1,240,176)
Adjustments for:
Depreciation of property and equipment	612	4,345	2,324	11,108
Amortization of intangible assets	1,733	12,305	102,621	54,099
Non-cash operating lease expense	868	6,164	12,996	29,464
Deferred tax benefit	(338)	(2,403)	(2,403)	(2,403)
Share-based compensation	5,255	37,308	70,105	200,186
Interest expense	23,687	168,177	438,112	35,350
Changes in estimate for accrued liabilities related to users’ loyalty programs	282	2,000	4,137	12,369
Allowance for doubtful accounts	(2,759)	(19,589)	(467)	249,143
Unrealized loss of publicly traded equity security				15,315
Unrealized loss of non-marketable equity securities			50,487	1,208
Loss (gain) on disposal of property, plant and equipment	12	83	4,097	(216)
Gain on disposal of subsidiary				(23,083)
Equity in losses of affiliated companies			1,416	3,195
Impairment of long-term investment securities				28,528
Changes in assets and liabilities:
Accounts receivable	3,216	22,828	653,977	(282,272)
Amount due from related parties	425	3,015	211,061	123,731
Prepayments and other current assets	2,941	20,878	14,066	195,375
Accounts receivables, non-current				54,639
Other non-current assets	315	2,236	1,907	3,350
Accounts payable	3,546	25,179	81,226	(135,213)
Amount due to related parties	(62)	(438)	(6,336)	(2,499)
Registered users’ loyalty payable	(2,241)	(15,910)	(31,918)	(10,935)
Salary and welfare payable	(3,112)	(22,095)	(6,426)	(83,334)
Tax payable	(4)	(26)	(3,405)	(53,265)
Accrued liabilities related to users’ loyalty programs	(4,662)	(33,100)	(38,908)	(13,095)
Accrued liabilities and other current liabilities	(13,017)	(92,419)	(998,342)	593,134
Advances from customers and deferred revenue	1,113	7,904	(73,891)	(18,179)
Operating lease liabilities	(962)	(6,827)	(13,733)	(22,122)
Non-current liabilities			(1,733)	(2,524)
Net cash used in operating activities	(9,253)	(65,700)	(443,797)	(279,122)
Cash flows from investing activities:
Purchase of short-term investments			(26,402)	(899,787)
Proceeds from sales and maturity of short-term investments	3,719	26,402	292,530	981,975
Purchase of intangible assets				(113)
Purchase of property and equipment	(8)	(54)	(7)	(7,607)
Proceeds from disposal of property and equipment	19	135	1,434	1,053
Net cash provided by/(used in) investing activities	3,730	26,483	267,555	75,521
Cash flows from financing activities:
Payment of accrued issuance costs for Series C convertible redeemable preferred shares of a subsidiary				(3,135)
Proceeds from bank borrowings				20,000
Repayments of bank borrowings			(20,000)	(70,000)
Repayment of borrowings from a related party				(12,959)
Net cash provided by financing activities			(20,000)	(66,094)
Net increase/(decrease) in cash, cash equivalents and restricted cash	(5,523)	(39,215)	(196,242)	(269,695)
Effect of exchange rate changes on cash, restricted cash and cash equivalents	73	520	10,810	(9,263)
Cash, cash equivalents and restricted cash at the beginning of year	18,367	130,401	315,833	594,791
Cash, cash equivalents and restricted cash at the end of year	12,917	91,706	130,401	315,833
Supplemental disclosure of cash flow information:
Cash paid for interest (Note 14)	2,481	17,617	30,247	42
Cash paid for income taxes	631	4,482	1,478	4,079
Non-cash financing and investing activities:
Accretion to redemption value of Series A, B and C convertible redeemable preferred shares of a subsidiary	20,279	143,976	124,677	108,896
The below table reconciles cash, cash equivalents, and restricted cash
Cash and cash equivalents	10,514	74,648	122,801	240,351
Restricted cash	2,403	17,058	7,600	75,482
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 12,917	¥ 91,706	¥ 130,401	¥ 315,833

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Principal Activities	1. Organization and Principal Activities (a) Principal activities Qutoutiao Inc. (the “Company”), an exempted company with limited liability incorporated in the Cayman Islands, (i) its various equity-owned consolidated subsidiaries, (ii) its controlled affiliates, and (iii) the subsidiaries of its controlled affiliates are collectively referred to as the “Group”. The Group’s principal activity is to operate mobile platforms Qutoutiao (“QTT”), and Midu (“MD”) for the distribution, consumption and sharing of light entertainment content. The Group generates revenue primarily by providing cost-effective and targeted advertising solutions through the mobile platforms in the People’s Republic of China (“PRC”), through its controlled affiliates and their wholly-owned subsidiaries thereof (collectively referred to as the “Affiliated Entities”). As of December 31, 2023, the Company’s principal subsidiaries and consolidated Affiliated Entities are as follows: Schedule of Pricipal Subsidiaries and Consolidated Affiliated Entities Name of subsidiaries and VIEs Date of direct or indirect establishment/acquisition Place of incorporation Percentage of direct or economic ownership Wholly owned subsidiaries of the Company: InfoUniversal Limited(“InfoUniversal”) August, 2017 Hong Kong 100 Shanghai Quyun Internet Technology Co., Ltd. (“Quyun WFOE”) October, 2017 PRC 100 Shanghai Dianguan Network Technology Co., Ltd. (“Dianguan”) February, 2018 PRC 100 Qtech USA Inc. (“Qtech”) April, 2018 USA 100 QTT Asia Ltd.(“QTT Asia”) April, 2018 British 100 Kubik Media International Ltd. (“Kubik Media”) May, 2018 BVI 100 Kubik Technology Pte., Ltd. (“Kubik Technology”) May, 2018 Singapore 100 Fun Literature Limited (Cayman) (“Fun Literature”) October, 2018 Cayman Islands 65 Fun Literature (HK) Limited (“Fun Literature HK”) October, 2018 Hong Kong 100 PT. Sedjahtera Inti Abadi (“Abadi”) October, 2018 Indonesia 100 Shanghai Zhicao Information Technology Co., Ltd. (“Zhicao WFOE”) December, 2018 PRC 100% AI-Fun Technology Limited (“AI-Fun”) January, 2019 Hong Kong 100 Fun-Platform Holdings Limited (“Fun-Platform”) January, 2019 Cayman 100 Striking Technology Holdings limited (“Striking”) January, 2019 Hong Kong 100 Shanghai Chenxing Software Technology Co., Ltd. (“Chenxing”) January, 2020 PRC 100 Shanghai Luoshi Software Technology Co., Ltd. (“Luoshi”) January, 2020 PRC 100 Shanghai Wennuo Information Technology Co., Ltd. (“Wennuo”) July, 2020 PRC 100 Shanghai Shuqin Information Technology Co., Ltd. (“Shuqin”) November, 2020 PRC 100 Fun Literature SG Pte. Ltd. (“Fun SG”) February, 2021 Singapore 100 Shanghai Chengshan Information Technology Co., Ltd. (“Chengshan”) March, 2021 PRC 100 Hainan Mengbang Network Technology Co., Ltd. (“Mengbang”) June, 2021 PRC 100 Variable Interest Entity (“VIEs”) Shanghai Jifen Culture Communications Co., Ltd. (“Jifen or Jifen VIE”) January, 2012 PRC 100 Beijing Churun Internet Technology Co., Ltd. (“Churun”) November, 2018 PRC 100 Shanghai DragonS Information Technology, Co., Ltd (“ DragonS Information”) January, 2019 PRC 100 Hubei Rapid Information Technology Co., Ltd. (“Rapid Information”) March, 2019 PRC 100 Shanghai Ququanquan Information Technology Co., Ltd. (“Ququanquan”) October, 2019 PRC 100 Huaian Beixia Information Technology Co., Ltd. (“Beixia”) November, 2020 PRC 100 Shanghai Miaoliang Information Technology Co., Ltd. (“Miaoliang”) November, 2020 PRC 100 Shanghai Zishu Information Technology Co., Ltd. (“Zishu”) November, 2020 PRC 100 Shanghai Yuanying Information Technology Co., Ltd. (“Yuanying”) April, 2021 PRC 100 Hainan Jinxuan Information Technology Co., Ltd. (“Jinxuan”) June, 2021 PRC 100 Bixing Network Technology (Shaoxing) Co., Ltd February, 2023 PRC 100 Name of subsidiaries and VIEs Date of establishment/ acquisition Place of incorporation Percentage of direct or indirect economic ownership Subsidiaries of Variable Interest Entity (“VIE subsidiaries”) Shanghai Xike Information Technology Service Co., Ltd. (“Xike”) July, 2016 PRC 100% Shanghai Tuile Information Technology Service Co., Ltd. (“Tuile”) July, 2016 PRC 100 Anhui Zhangduan Internet Technology Co., Ltd. (“Zhangduan”) March, 2017 PRC 100 Beijing Qukandian Internet Technology Co., Ltd. (“Qukandian”) April, 2017 PRC 100 Tianjin Quwen Internet Technology Co., Ltd. (“Quwen”) August, 2018 PRC 100 Shanghai Big Rhinoceros Horn Information Technology, Co., Ltd (“Big Rhinoceros Horn”) November, 2018 PRC 100 Shanghai Heitu Internet Technology Co., Ltd. (“Heitu”) January, 2019 PRC 100 Shanghai Zheyun Internet Technology Co., Ltd. (“Zheyun”) January, 2019 PRC 100 Beijing Supreme Pole International Sports Development Co., Ltd. (“Supreme Pole International Sports”) January, 2019 PRC 100 Hubei Qingluo Information Technology Co., Ltd. (“Qingluo”) March, 2019 PRC 100% Hubei Qingluo Information Technology Co., Ltd. Shanghai Branch (“Qingluo”) March, 2020 PRC 100 Shanghai Tuohuan Information Technology Co., Ltd. (“Tuohuan”) September, 2019 PRC 100 Shanghai Xunkai Information Technology Co., Ltd. (“Xunkai”) October, 2019 PRC 100 Shanghai Xixia Information Technology Co., Ltd. (“Xixia”) October, 2019 PRC 100 Hubei Rapid Information Technology Co., Ltd. Shanghai Branch (“Jietu”) January, 2020 PRC 100 Shanghai Manchuan Information Technology Co., Ltd. (“Manchuan”) March, 2020 PRC 100 Shanghai Yunxi Information Technology Co., Ltd. (“Yunxi”) April, 2020 PRC 100 Shanghai Mili Information Technology Co., Ltd. (“Mili”) March, 2020 PRC 100 Shanghai Guanji Information Technology Co., Ltd. (“Guanji”) February, 2021 PRC 100 Shanghai Yimao Information Technology Co., Ltd. (“Yimao”) February, 2021 PRC 100 Shanghai Xier Information Technology Co., Ltd. (“Xier”) April, 2021 PRC 100 Shanghai Yixun Information Technology Co., Ltd. (“Yixun”) June, 2021 PRC 100 (b) Organization The consolidated financial statements include the financial statements of the Company, its subsidiaries, the Affiliated Entities for which the Company is the primary beneficiary. Jifen was incorporated in the PRC in 2012 and started the operation of the mobile platforms for distribution, consumption and sharing of light entertainment content (the “principal business”) from 2016. To facilitate offshore financing, an offshore corporate structure was formed in 2017 by incorporating the Company and Quyun WFOE. On October 13, 2017, the Group entered into various arrangements (“VIE Agreements”) as related to its Affiliated Entities or its shareholders in order to comply with PRC laws and regulations on internet business. By entering the VIE Agreements, Jifen became a VIE whose primary beneficiary is Quyun WFOE and the shareholders of Jifen became the “Nominee Shareholders” of Jifen. The principal terms of the contractual arrangements are described below: Exclusive Technology Support and Consulting Services Agreement Under the exclusive technology support and consulting services agreement between Jifen VIE and Quyun WFOE, Quyun WFOE has the exclusive right to provide to Jifen technology support, business management consulting, marketing consultation, products research and development and technology services related to all technologies, and business operations needed for its business. Quyun WFOE owns the exclusive intellectual property rights created because of the performance of this agreement. The service fee payable by Jifen to Quyun WFOE is determined by Quyun WFOE based on its services provided including various factors such as Quyun WFOE’s incurred technology support and consulting services fees, performance data and Jifen VIE’s revenues. The term of this agreement will expire in 10 30 Exclusive Option Agreement The parties to the exclusive option agreement entered are Jifen VIE, Quyun WFOE and each of the shareholders of Jifen VIE. Under the exclusive option agreement, each of the shareholders of Jifen VIE irrevocably granted Quyun WFOE or its designated representative(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of his or its equity interests in Jifen VIE and all or part of assets of Jifen VIE. Quyun WFOE or its designated representative(s) have sole discretion as to when to exercise such options, either in part or in full. The exercise price shall be the lowest allowable share purchase amount permitted by the PRC law for the 100 10 30 Voting Rights Proxy Agreement The parties to the exclusive option agreement are Jifen VIE, Quyun WFOE and each of the shareholders of Jifen VIE, with the exception of The Paper (see below for additional information on The Paper arrangement). Under the agreement, each of the shareholders of Jifen VIE irrevocably granted Quyun WFOE or its designated representative(s) the right to exercise his/her rights as a shareholder of Jifen VIE including hosting board of directors meeting, terminate and nominate board members and senior management of Jifen VIE and other shareholders’ voting rights. During the period that each of Shanghai Quyun and Shanghai Jifen remain in operation, the voting rights proxy agreement shall be irrevocable and continuously effective and valid for ten years one year 30 Loan Agreement Quyun WFOE has entered into an interest-free loan agreement with Jifen VIE, which may only be used for the purpose of business operations and development of Jifen VIE. Under the terms of the agreement, Quyun WFOE is going to provide unconditional financial support to Jifen VIE and the amount would be agreed between Quyun WFOE and Jifen VIE. Jifen VIE along with its subsidiaries pledge all its shares equity for the outstanding loan. Also, the maturity date of the loan is the earlier of 10 Equity Interest Pledge Agreement Pursuant to the equity interest pledge agreement between Quyun WFOE and the shareholders of Jifen VIE, with the exception of The Paper (see below for additional information on The Paper arrangement), the shareholders of Jifen VIE has pledged all of their equity interests in Jifen VIE to Quyun WFOE to guarantee the performance by Jifen VIE and its shareholders’ performance of their respective obligations under the exclusive option agreement, exclusive technology support and business services agreement, voting rights proxy agreement and loan agreement. If Jifen VIE and/or its shareholders breach their contractual obligations under those agreements, Quyun WFOE, as pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests. Jifen, under Generally Accepted Accounting Principles in the United States (“US GAAP”), is considered to be a consolidated VIE in which the Company, or its subsidiaries, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or one of its subsidiaries is the primary beneficiary of the entity. Through the aforementioned contractual agreements, the Company has the ability to: ● exercise effective control over Jifen whereby having the power to direct Jifen’s activities that most significantly drive the economic results of Jifen; ● receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks and expected losses from the Jifen as if it was their sole shareholder; and ● have an exclusive option to purchase all of the equity interests in Jifen. Management evaluated the relationships among the Company, Quyun WFOE and Jifen VIE, and concluded that Quyun WFOE is the primary beneficiary of Jifen VIE. As a result, Jifen’s results of operations, assets and liabilities have been included in the Group’s consolidated financial statements for all the presented periods. The Group’s other VIEs entered into the VIE Agreements (Exclusive Technology Support and Consulting Services Agreement, Exclusive Option Agreement, Voting Rights Proxy Agreement, Loan Agreement and Equity Interest Pledge Agreement) which have the same terms as those described in Jifen VIE. As a result, these VIEs’ primary beneficiaries are Quyun WFOE and Zhicao WFOE and their shareholders became the “Nominee Shareholders”. In September 2019, Jifen VIE issued equity interests representing 1 1

Principal Accounting Policies

Principal Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principal Accounting Policies	2. Principal Accounting Policies (a) Basis of preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on the Group’s ability to reduce cash used in operating activities, adjust the pace of its operation expansion, control of the related expense to fund its general operations and capital expansion needs, and the ability to pursue financing arrangements and obtain additional funds from the sale of its assets to support its working capital requirements and its obligations and commitments on loans and borrowings when they become due. The following factors raise substantial doubt about the Group’s ability to continue as a going concern: ● For the years ended December 31, 2021, 2022 and 2023, the Group incurred net losses of RMB 1,240.2 914.8 185.3 ● For the years ended December 31, 2021, 2022 and 2023, the Group had net cash used in operating activities of RMB 279.1 443.8 65.7 ● As of December 31, 2023, the Group had an accumulated deficit of RMB 8,724.5 458.9 ● As of December 31, 2023, the Group had cash, cash equivalents, restricted cash and short-term investments of RMB 91.7 ● As of December 31, 2023, as discussed in Note 13 and Note 25 to the consolidated financial statements, the Group has a Convertible Loan from Alibaba (“Convertible Loan”) of approximately RMB 1.94 171.1 The liquidity of the Group is primarily dependent on management’s ability to adjust the pace of its operation expansion, to control operating cost and expenses to reduce the cash used in operating cash flows, to pursue financing arrangements, including the renewal of its Convertible Loan with the creditor, and to obtain additional funds from the sale of its assets. The Company has carried out a review of its cash flow forecast for the twelve months from the date of issuance of the consolidated financial statements. In preparing the cash flow forecast, the Company’s management has considered historical cash requirements of the Group, the Group’s expected loan repayment obligations in 2024 and beyond, and the Company’s plan to further reduce operating costs and expenses. The Company is currently exploring a variety of measures to improve the Group’s liquidity and financial position as follows: The Company continues to optimize its user loyalty programs and traffic acquisition strategy to efficiently control and reduce costs and continues to be selective in their content and better leverage its existing content varieties to attract and maintain users. These measures can in turn lead to savings in user related costs. The Company further plans to preserve liquidity and manage cash flows by reducing expenditure on developing novel applications and limiting other general and administrative expenses. The Company also plans to obtain additional external financing and funds through, including but not limited to, additional credit facilities obtained from banks in the normal course of business, potential additional issuances of equity and/ or debt as a Group or through its subsidiaries, and sale of its assets, including the Group’s equity interest in its subsidiaries, to third parties. The Convertible Loan had the original maturity date on April 4, 2022 (Note 13). The Company and Alibaba entered into several supplemental agreements to the original convertible loan agreement, pursuant to which the maturity date of the Convertible Loan has been extended to April 30, 2025. The interest rate of the Convertible Loan has also been amended from an original compound rate of 3 9 3 312.7 Based on the management’s assessment, there can be no assurance, however, that the above operating measures will be successfully completed due to factors outside of the Company’s control. There can also be no assurance that new financing, additional funds from the sale of assets, extension of the maturity date of the Convertible Loan under the supplemental agreement, continuous renewal of the Convertible Loan, or other transactions will be available to the Company on commercially acceptable terms, or at all. In addition, the potential worsening global economic conditions may adversely impact the Group’s ability to secure additional financing. Facts and circumstances including accumulated and recurring losses from operations, net cash used in operating activities, negative working capital and uncertainties on the repayment of the Convertible Loan raise substantial doubt about the Group’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below. (b) Use of estimates The preparation of the Group’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from such estimates. The Company believes that revenue recognition, liabilities related to loyalty programs, consolidation of VIEs, allowance for credit losses, determination of share-based compensation and impairment assessment of long-lived assets reflect more significant judgments and estimates used in the preparation of its consolidated financial statements. Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could materially differ from these estimates. (c) Consolidation The Group’s consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIEs and a VIEs’ subsidiaries for which the Company or its subsidiary is the primary beneficiary. All transactions and balances among the Company, its subsidiaries, its VIEs have been eliminated upon consolidation. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIEs’ economic performance, and also the Group’s obligation to absorb losses of the VIEs that could potentially be significant to the VIEs or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. The Company’s WFOEs and ultimately the Company hold all the variable interests of the VIEs and its subsidiaries, and have been determined to be the primary beneficiaries of the VIEs. The following table sets forth the assets, liabilities, results of operations and cash flows of VIEs and its subsidiaries, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and its subsidiaries are eliminated in the balances presented below: Schedule of Assets, Liabilities, Result of Operations and Cash Flows of VIEs and its Subsidiaries December 31, 2022 December 31, 2023 As of December 31, 2022 December 31, 2023 Assets Current assets Cash and cash equivalents 32,147 23,590 Restricted cash 7,384 17,008 Short-term investments 6,402 - Accounts receivable, net 110,523 73,143 Amount due from subsidiaries of the Company 470,966 320,387 Amount due from related parties 48,284 45,182 Prepayments and other current assets 95,568 91,422 Total current assets 771,274 570,732 Non-current assets Property and equipment, net 5,002 493 Right-of-use assets 21,879 5,633 Intangible assets 6,574 3,883 Other non-current assets 1,426 666 Total non-current assets 34,881 10,675 Total assets 806,155 581,407 Liabilities Current liabilities Accounts payable 330,550 349,993 Amount due to subsidiaries of the Company 5,644,725 5,560,180 Amount due to related parties - 81 Registered users’ loyalty payable 29,773 13,863 Advance from customers and deferred revenue 11,963 12,351 Salary and welfare payable 28,048 15,784 Tax payable 29,584 36,588 Lease liabilities, current 15,083 2,407 Accrued liabilities related to users’ loyalty programs 64,589 33,489 Accrued liabilities and other current liabilities 301,713 220,104 Total current liabilities 6,456,028 6,244,840 Lease liabilities, non-current 7,599 3,366 Total liabilities 6,463,627 6,248,206 2021 2022 2023 Year ended December 31, 2021 2022 2023 Revenues: Third-party revenues 4,336,388 828,341 673,730 Intra-Group revenues 188,298 579,967 637,646 Total revenues 4,524,686 1,408,308 1,311,376 Cost of revenues: Third-party cost of revenues (867,701 ) (446,189 ) (365,857 ) Intra-Group cost of revenues (18,959 ) (376,184 ) (571,434 ) Total cost of revenues (886,660 ) (822,373 ) (937,291 ) Gross profit 3,638,026 585,935 374,085 Operating expenses: Third-party operating expenses (4,067,548 ) (572,365 ) (248,310 ) Intra-Group operating expenses (951,702 ) (384,197 ) (140,418 ) Total operating expenses (5,019,250 ) (956,562 ) (388,728 ) Other operating income 18,659 9,153 4,237 Loss from Operations (1,362,565 ) (361,474 ) (10,406 ) Non-operating income/(expense) 22,282 (9,311 ) 859 Loss before income tax expense (1,340,283 ) (370,785 ) (9,547 ) Income tax benefit /(expense) (131 ) (54 ) 412 Equity in loss of an affiliate company (3,195 ) (1,416 ) - Net loss (1,343,609 ) (372,255 ) (9,135 ) 2021 2022 2023 Year ended December 31, 2021 2022 2023 Net cash used in operating activities (190,975 ) (22,037 ) (58,155 ) Net cash provided by investing activities 63,047 28,625 59,222 Net cash provided by financing activities 84,471 — — Net (decrease)/ increase in cash and cash equivalents (43,457 ) 6,588 1,067 Cash and cash equivalents at the beginning of year 76,400 32,943 39,531 Cash and cash equivalents, restricted cash at the end of year 32,943 39,531 40,598 In accordance with the aforementioned VIE agreements, the Company has power to direct activities of the VIEs, and can have assets transferred out of VIEs. Therefore the Company considers that there is no asset in VIEs that can be used only to settle obligations of the VIEs, except for registered capital, as of December 31, 2022 and 2023. As the VIEs and their subsidiaries were incorporated as limited liability Company under the PRC Company Law, the creditors do not have recourse to the general credit of the Company for all the liabilities of the VIEs. VIEs’ assets comprise both recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include leasehold improvements, computers and network equipment and purchased intangible assets which are recognized in the Company’s consolidated balance sheet. The unrecognized revenue-producing assets mainly consist of patents, trademarks and assembled workforce which are not recorded in the financial statements of VIEs as they did not meet the recognition criteria set in ASC 350-30-25. There were no pledges or collateralization of the Affiliated Entities’ assets. As the Company is conducting its business mainly through the Affiliated Entities, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss. There is no VIEs where the Company has variable interest but is not the primary beneficiary. The Group believes that the contractual arrangements among its shareholders and WFOEs comply with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements and if the shareholders of the VIEs were to reduce their interests in the Company, their interests may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms. The Company’s ability to control the VIEs also depends on the voting rights proxy and the effect of the share pledge under the Equity Interest Pledge Agreement and the WFOEs have to vote on all matters requiring shareholder approval in the VIEs. As noted above, the Company believes this voting right proxy is legally enforceable but may not be as effective as direct equity ownership. (d) Functional Currency and Foreign Currency Translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated outside of PRC is the United States dollar (“US$”), while the functional currency of the PRC entities in the Group is RMB as determined based on the criteria of ASC 830, Foreign Currency Matters. Transactions denominated in other than the functional currencies are re-measured into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in other than the functional currency are re-measured at the balance sheet date exchange rate. The resulting exchange differences are recorded in the consolidated statements of comprehensive loss as foreign exchange related gain / loss. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expense items are generally translated at the average exchange rates prevailing during the fiscal year. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders’ deficit on the consolidated financial statement. The exchange rates used for translation on December 31, 2022 and December 29, 2023 were US$1.00= RMB 6.9646 7.0827 (e) Convenience Translation Translations of balances in the Group’s consolidated balance sheet, consolidated statement of operations and comprehensive loss and consolidated statement of cash flows from RMB into US$ as of and for the year ended December 31, 2023 are solely for the convenience of the readers and were calculated at the rate of US$1 = RMB 7.0999 (f) Fair value of financial instruments Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value include: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities. Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Group’s financial instruments consist principally of cash and cash equivalents, short-term investments, accounts receivable, equity securities, short-term borrowings, accounts payable, advance from advertising customers, registered users’ loyalty payable, other liabilities, and Convertible Loan. As of December 31, 2022 and 2023, the carrying values of cash and cash equivalents, short-term investments in time deposits, current accounts receivable, non-marketable equity securities, short-term borrowings, accounts payable, advance from customers and deferred revenue, registered users’ loyalty payable and other liabilities approximated their fair values reported in the consolidated balance sheets due to the short-term maturities of these instruments. The estimated fair value of noncurrent accounts receivable approximates the carrying value as the discounting impact is not material. The estimated fair value of the Convertible Loan approximated its carrying amount as the stated interest rate of the loan is close to the market rate. The Convertible Loan would qualify as Level 3 in the fair value hierarchy if it was to be carried at fair value due to the presence of significant unobservable inputs. Assets and liabilities measured at fair value on a recurring basis On a recurring basis, the Group measures its short-term investments in wealth management products and publicly traded equity security at fair value. The following table sets forth the Group’s assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2022 level 1 level 2 level 3 Balance at fair value Assets Short-term investments—Wealth management products — 26,402 — 26,402 As of December 31, 2023 level 1 level 2 level 3 Balance at fair value Assets Short-term investments—Wealth management products — — — — The Group values its investments in wealth management products issued by certain banks using quoted subscription/redemption prices published by these banks, and accordingly, the Group classifies the valuation techniques that use these inputs as Level 2. Assets and liabilities measured at fair value on a non-recurring basis The equity securities without readily determinable fair value are measured at fair value on a non-recurring basis, adjusted for observable transactions for identical or similar investments of the same issuer or impairment. These securities are classified as Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs such as volatility, rights, and obligations of the securities we hold. (g) Cash and Cash Equivalents Cash and cash equivalents include cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less at the time of purchase and are readily convertible to known amounts of cash. (h) Restricted cash As of December 31, 2022 and 2023, restricted cash of RMB 7.6 million and RMB 17.1 (i) Short-term investments Short-term investments include time deposits with original maturities between three months and a year with banks in the PRC and investments in wealth management products issued by certain banks which are redeemable by the Company at any time. The company classifies investments as current based on the nature of the investments and their availability for use in current operations. The wealth management products are unsecured with variable interest rates and primarily invested in debt securities issued by the PRC government, corporate debt securities and central bank bills. The Company measures the investments in wealth management products at fair value using the quoted subscription or redemption prices published by these banks. As of December 31, 2023, no (j) Accounts receivable, net Accounts receivable represents those receivables derived in the ordinary course of business, net of an allowance for any potentially uncollectible amounts, and are classified as current or long-term in accordance with customer payment terms. The Company makes estimates of expected credit and collectability trends for the allowance for credit losses based upon its assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions that may vary by geography, customer-type, or industry sub-vertical, and other factors that may affect its ability to collect from customers. Expected credit losses are recorded as general and administrative expenses on our consolidated statements of comprehensive loss. Although the Company has historically not experienced significant credit losses, they may experience increasing credit loss risks from accounts receivable in future periods if its customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the current COVID-19 pandemic, or other customer-specific factors, and actual experience in the future may differ from their past experiences or current assessment. (k) Property and equipment, net Property and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight-line method over their estimated useful lives. The estimated useful lives are as follows: Schedule of Estimated Useful Lives Leasehold improvements Over the shorter of lease term or estimated useful lives of the assets Office equipment 3 5 Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive loss. (l) Long-term equity investments The Company’s equity investments are accounted for as follows: ● Non-marketable equity securities that do not have readily determinable fair value are measured using the measurement alternative recorded at cost less any impairment, plus or minus changes resulting from subsequent qualifying observable price changes. Any changes in carrying value of these equity investments are recorded in the consolidated statements of comprehensive loss. For the Company’s long-term investment in an equity fund, the Company elected to apply the net asset value (NAV) practical expedient per ASC 820 to measure these investments at fair value. The NAV is the estimated fair value of these investments, and changes in fair value is recorded in the consolidated statements of comprehensive loss. The fair value of this equity fund is nil ● Equity method investments are securities that the Company does not control but is able to exert significant influence over the investments. These investments are initially recorded at cost and subsequently recognizes proportionate share of each equity investee’s net income or loss and to reflect the amortization of basis differences in the consolidated statements of comprehensive loss and accordingly adjusts the carrying amount of the investments. An impairment charge is recorded if the carrying amount of the investments exceed their fair value and this condition is determined to be other-than-temporary. When the Company’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Company does not recognize further losses, unless the Company has incurred obligations or made payments or guarantees on behalf of the equity investee. The Company monitors its investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends and other company-specific information. Refer to Note 5– Investments for additional information. (m) Goodwill and intangible assets Intangible assets Intangible assets include the acquired right to operate an online audio/video content platform, which is amortized on a straight-line basis over its estimated useful life of 10 3 10 As part of the Fun Series C Preferred Shares arrangement (see Note 20), the Company acquired intangible assets. For accounting purposes, the consideration was allocated to developed technology and user data. The acquired technology is amortized over 5 3 The estimated life of intangible assets subject to amortization is reassessed if circumstances occur that indicate the life has changed. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Goodwill Goodwill represents the excess of the total cost of the acquisition over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries and VIEs. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of the reporting unit is less than its carrying value. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit and other specific information related to the operations. If the reporting unit does not pass the qualitative assessment, the Company estimates its fair value and compares the fair value with the carrying value of its reporting unit, including goodwill. If the fair value is greater than the carrying value of its reporting unit, no impairment is recorded. If the fair value is less than the carrying value, an impairment loss is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. The impairment charge would be recorded to earnings in the consolidated statements of operations. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets, liabilities and goodwill to reporting units and the determination of the fair value of each reporting unit. The Company estimates the fair value of the reporting unit using a discounted cash flow model. This valuation approach considers various assumptions including projections of future cash flows, perpetual growth rates and discount rates. The assumptions about future cash flows and growth rates are based on management’s assessment of a number of factors, including the reporting unit’s recent performance against budget, performance in the market that the reporting unit serves, as well as industry and general economic data from third party sources. Discount rate assumptions reflect an assessment of the risk inherent in those future cash flows. Changes to the underlying businesses could affect the future cash flows, which in turn could affect the fair value of the reporting unit. Management performs its annual goodwill impairment test as of December 31. Each quarter the Company reviews the events and circumstances to determine if there are indicators that goodwill may be impaired. As of December 31, 2022 and 2023, there is no event or any circumstance that the Company identified, which indicated that the fair value of the Company’s reporting unit was substantially lower than the respective carrying value. There was no no (n) Impairment of long-lived assets other than Goodwill For other long-lived assets including property and equipment, other non-current assets and intangible assets, the Group evaluates for impairment whenever events or changes (triggering events) indicate that the carrying amount of an asset may no longer be recoverable. The Group assesses the recoverability of the long-lived assets by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to receive from use of the assets and their eventual disposition. Such assets are considered to be impaired if the sum of the expected undiscounted cash flows is less than the carrying amount of the assets. The impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was no (o) Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liability, and operating lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, which it calculates based on the credit quality of the Company and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease. The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) elect for each lease not to separate non-lease components from lease components and instead to account for each separate lease component and the non-lease components associated with that lease component as a single lease component; (ii) for leases that have lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not to apply ASC 842 recognition requirements; and (iii) the Company elected to apply the package of practical expedients for existing arrangements entered into prior to January 1, 2019 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied to existing leases, and (c) initial direct costs. (p) Advances from customers and deferred revenue Certain third party advertising customers pay in advance to purchase advertising and marketing services. Cash proceeds received from customers are initially recorded as advances from advertising customers and are recognized as revenues when revenue recognition criteria are met. Advances from customers and deferred revenue also consist of prepayments from users in the form of the purchase of the Group’s virtual currency that can be used for live streaming and online games that are not yet consumed or converted into virtual items, and that upon the consumption or conversion, are recognized as revenue according to the prescribed revenue recognition policies described below. (q) Revenue recognition

Risks and Concentration

Risks and Concentration	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Risks and Concentration	3. Risks and Concentration (a) PRC regulations (1) VIEs It is possible that the Group’s operation of certain of its operations and businesses through VIEs could be found by PRC authorities to be in violation of PRC law and regulations prohibiting or restricting foreign ownership of companies that engage in such operations and businesses. If a finding were made by PRC authorities that the Group’s operation of certain of its operations and businesses through VIEs is prohibited, regulatory authorities with jurisdiction over the licensing and operation of such operations and businesses would have broad discretion in dealing with such a violation, including levying fines, confiscating the Group’s income, revoking the business or operating licenses of the affected businesses, requiring the Group to restructure its ownership structure or operations, or requiring the Group to discontinue all or any portion of its operations. Any of these actions could cause significant disruption to the Group’s business operations, and have a severe adverse impact on the Group’s cash flows, financial position, and operating performance. In addition, it is possible that the contracts among the Group, the consolidated VIEs and the shareholders of such VIEs would not be enforceable in China if PRC government authorities or courts were to find that such contracts contravene PRC law and regulations or are otherwise not enforceable for public policy reasons. As of the date of this report, the validity and enforceability of the contracts among the Group, the consolidated VIEs and the shareholders of such VIEs, and, to the knowledge of the Group, of any similar contracts entered into by other PRC-based companies, have never been considered or determined by a PRC court. In the event that the Group was unable to enforce these contractual arrangements, the Group would not be able to exert effective control over the affected VIEs. Consequently, such VIEs’ results of operations, assets and liabilities would not be included in the Group’s consolidated financial statements. If such were the case, the Group’s cash flows, financial position and operating performance would be severely adversely affected. The Group’s contractual arrangements with respect to its consolidated VIEs are in place. The Group’s operations and businesses rely on the operations and businesses of its VIEs, which hold certain assets that are important to the operation of the Group’s business. The VIEs’ assets comprise both recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include leasehold improvements, computers and network equipment and purchased intangible assets which are recognized in the Group’s consolidated balance sheet. The unrecognized revenue-producing assets mainly consist of patents, trademarks and assembled workforce which are not recorded in the financial statements of VIEs as they did not meet the recognition criteria set in ASC (2) Inability to fully comply with Audio-visual Program Provisions Pursuant to the Administrative Provisions on Internet Audio-visual Program Service, or the Audio-visual Program Provisions, which was issued by the State Administration of Radio, Film and Television (the predecessor of GAPPRFT), or SARFT, and MIIT on December 20, 2007 and came into effect on January 31, 2008 and was amended on August 28, 2015, online transmission of audio and video programs requires an Internet audio- visual program transmission license and online audio-visual service providers must be either wholly state-owned or state-controlled. In a press conference jointly held by SARFT and MIIT to answer questions with respect to the Audio-visual Program Provisions in February 2008, SARFT and MIIT clarified that online audio-visual service providers that had already been operating lawfully prior to the issuance of the Audiovisual Program Provisions may re-register and continue to operate without becoming state-owned or controlled, provided that such providers have not engaged in any unlawful activities. This exemption will not be granted to online audio/video service providers established after the Audio-visual Program Provisions was issued. Although the Group has been taking measures to ensure compliance, the Group may not be able to fully comply with Audio-visual Program Provisions. As a result, the Group may face, according to Audio-visual Program Provisions, administrative sanctions including receiving a warning and be ordered to pay a fine of not more than RMB 30,000 The Group believes that the risks of material loss related to inability to fully comply with Audio-visual Program Provisions and fines or penalties are remote. (b) Foreign exchange risk The Group’s sales, purchase and expense transactions are generally denominated in RMB and a significant portion of the Group’s liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China. In addition, the Group’s cash denominated in US$ subject the Group to risks associated with changes in the exchange rate of RMB against US$ and may affect the Group’s results of operations going forward. (c) Credit and Concentration risk The Group’s credit risk arises from cash and cash equivalents, short-term investments, prepayments and other current assets, and accounts receivable. The carrying amounts of these financial instruments represent the maximum amount of loss due to credit risk. The Group expects that there is no significant credit risk associated with the cash and cash equivalents and short-term investments which are held by reputable financial institutions in the jurisdictions where the Company, its subsidiaries and the Affiliated Entities are located. The Group believes that it is not exposed to unusual risks as these financial institutions have high credit quality. The Group has no significant concentrations of credit risk with respect to its prepayments. Accounts receivable are typically unsecured and are derived from revenue earned through third party advertising platforms and customers as well as related parties. The risk with respect to accounts receivable is mitigated by credit evaluations performed on them, and the Company maintains an allowance for estimated credit losses. (1) Concentration of revenues For the years ended December 31, 2021, 2022 and 2023, Customer A contributed 18 11 10 (2) Concentration of accounts receivable The Group has not experienced any significant recoverability issue with respect to its accounts receivable. The Group conducts credit evaluations on its platforms and customers and generally does not require collateral or other security from such platforms and customers. The Group periodically evaluates the creditworthiness of the existing platforms in determining an allowance for doubtful accounts primarily based upon the age of the receivables and factors surrounding the credit risk of specific customers. The following table summarized customers with greater than 10% of the accounts receivables, including accounts receivable from related parties: Schedule of Concentration Risk As of December 31, 2022 2023 Customer A — advertising and marketing customer 29 % 31 % Customer B — advertising and marketing customer 14 % 13 %

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	4. Cash and cash equivalents Cash and cash equivalents represent cash on hand and time deposits placed with banks or other financial institutions with original maturities less than three months, which are unrestricted as to withdrawal or use. Interest income associated with these deposits amounted to RMB 2.4 1.4 0.1 The following table sets forth a breakdown of cash and cash equivalents by currency denomination and jurisdiction as of December 31, 2022 and 2023: Schedule of Cash and Cash Equivalents RMB thousands RMB thousands equivalent (US$) RMB thousands equivalent (HKD/SGD/IDR) Total in Overseas China Overseas China Overseas China RMB thousands Non-VIE VIE Non-VIE VIE Non-VIE VIE December 31, 2022 30,080 4,730 32,147 55,389 — — 455 — — 122,801 December 31, 2023 32,470 1,043 23,490 17,486 — — 159 74,648

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Investments	5. Investments As of December 31, 2022 and 2023, the Company’s short-term investments are comprised of the following: Summary of Short-Term Investments 2022 2023 As of December 31, 2022 2023 Wealth management products 26,402 - Total short-term investments 26,402 - For time deposits with original maturities between three months and a year, its interest income amounted to RMB 3.1 million, RMB 1.3 million and RMB 1.7 million in the consolidated statements of comprehensive loss for the years ended December 31, 2021, 2022 and 2023, respectively. The change in fair value of short-term investments in wealth management products was recorded as investment gains which amounted to RMB 9.0 2.3 1 During 2020, the Company invested RMB 20.0 16.7 15.3 The Company’s investments in non-marketable equity securities consist of an investment in an equity fund. During the first quarter of 2020, the Company subscribed to shares of an equity fund as a limited partner, with an initial cost of RMB 106.0 1.2 50.5 nil nil nil As of December 31, 2020, the Company’s equity method investment is an investment of RMB 27.6 During 2021, the Company deconsolidated one of its subsidiaries when a third-party investor purchased 60 23.1 40 For the year end December 31, 2023, the Group recognized nil 3.2 million and RMB 1.4 million, respectively). The Company’s investments in non-marketable equity securities primarily consist of an investment in an equity fund and small, non- controlling investments in companies for which the Company has equity ownership with preferential rights but cannot exert significant influence. During 2021, equity securities of RMB 8.0 nil

Accounts receivable, net

Accounts receivable, net	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable, net	6. Accounts receivable, net Schedule of Accounts Receivable, Net 2022 2023 As of December 31, 2022 2023 Accounts receivable, gross – current 452,783 389,355 Less: allowance for credit losses (335,374 ) (315,785 ) Accounts receivable, net 117,409 73,570 Movement of allowance for credit losses was as follows: Schedule of Allowance for Credit Losses 2021 2022 2023 Year ended December 31, 2021 2022 2023 At beginning of the period (86,698 ) (335,841 ) (335,374 ) (Additional)/Reversal of provisions (249,143 ) 467 19,589 At the end of the period (335,841 ) (335,374 ) (315,785 )

Prepayments and other assets

Prepayments and other assets	12 Months Ended
	Dec. 31, 2023
Prepayments And Other Assets
Prepayments and other assets	7. Prepayments and other assets Prepayment and other current assets consist of the following: Schedule of Other Assets 2022 2023 As of December 31, 2022 2023 Value-added tax receivable 102,453 102,528 Deposits 11,465 9,402 Loans and advance to employees 11,583 8,892 Prepayment for the third parties 16,898 6,225 Cooperation service fee – current portion 1,674 1,240 Lease deposits-current portion 876 2,048 Others 13,862 7,598 Total 158,811 137,933 Other non-current assets: Long-term cooperation service fee 1,476 - Long-term lease deposits 1,426 666 Total 2,902 666

Property and equipment, net

Property and equipment, net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and equipment, net	8. Property and equipment, net Property and equipment consist of the following: Schedule of Property and Equipment 2022 2023 As of December 31, 2022 2023 Cost: Office equipment 11,843 8,626 Leasehold improvements (1) 4,211 - Total cost 16,054 8,626 Less: Accumulated depreciation (11,041 ) (8,122 ) Property and equipment, net 5,013 504 (1) Leasehold improvements of RMB 4.2 Depreciation expense recognized for the years ended December 31, 2021, 2022 and 2023 are summarized as follows: Summary of Depreciation Expense 2021 2022 2023 Year ended December 31, 2021 2022 2023 Cost of revenues 3,024 534 358 Research and development expenses 6150 1202 525 Sales and marketing expenses 622 249 415 General and administrative expenses 1,312 339 3,047 Total 11,108 2,324 4,345 Depreciation expense 11,108 2,324 4,345

Intangible assets, net

Intangible assets, net	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	9. Intangible assets, net Intangible assets consist of the following: Schedule of Intangible Assets 2022 2023 As of December 31, 2022 2023 Cost: Acquired user data 127,133 127,133 Acquired right to operate an online audio/video platform including content deferred tax liabilities impact 96,130 96,130 Computer software 12,290 12,290 Developed technology 9,000 9,000 Total cost 244,553 244,553 Less: Accumulated amortization (181,904 ) (194,209 ) Intangible assets, net 62,649 50,344 The right to operate an online audio/video content platform was acquired on November 1, 2018 through an acquisition of 100 72.1 24.0 10 96.1 10 The Company also acquired intangible assets of RMB 136.1 9.0 5 127.1 3 45.9 Amortization expense for intangible assets for the years ended December 31, 2021, 2022 and 2023 is as follows: Summary of Amortization Expense 2021 2022 2023 Year ended December 31, 2021 2022 2023 Cost of revenues 9,613 9,613 9,613 Research and development expenses 825 900 1,800 Sales and marketing expenses 38,846 88,287 - General and administrative expenses 4,815 3,821 892 Total 54,099 102,621 12,305 Total amortization expense 54,099 102,621 12,305 Future intangible asset amortization as of December 31, 2023 is as follows: Summary of Future Intangible Asset Amortization Year ended December 31, Amortization Expense 2024 11,437 2025 11,437 2026 9,787 2027 9,637 2028 8,036 Thereafter 10 Total 50,344

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases
Leases	10. Leases The Company leases facilities under non-cancellable operating leases expiring on different dates. The terms of substantially all of these leases are three years or less. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. All of the Company’s leases qualify as operating leases. With the adoption of the new leasing standard, the Company has recorded a right-of-use asset and corresponding lease liability, by calculating the present value of future lease payments, discounted at 5.7 Schedule of Components of Lease Expenses ● The components of lease expenses were as follows: 2022 2023 Year ended December 31, 2022 2023 Lease cost: Amortization of right-of-use assets 12,996 6,164 Interest of lease liabilities 1,232 532 Total lease cost 14,228 6,696 Schedule of Supplemental Balance Sheet Information Related to Leases ● Supplemental cash flow information related to leases was as follows: 2022 2023 Year ended December 31, 2022 2023 Operating leases Operating lease right-of-use assets 21,879 5,633 Operating lease liabilities, current (15,083 ) (2,407 ) Operating lease liabilities, non-current (7,599 ) (3,366 ) Total operating lease liabilities (22,682 ) (5,773 ) Schedule of Supplemental Cash Flow Information Related to Leases ● Supplemental balance sheet information related to leases was as follows: 2022 2023 Year ended December 31, 2022 2023 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating lease payments 13,327 6,689 Right-of-use assets obtained in exchange for lease obligations: 12,315 6,983 2022 2023 As of December 31, 2022 2023 Weighted-average remaining lease term Operating leases 1.5 2.2 Weighted-average discount rate Operating leases 5.7 % 5.7 % Summary of Maturities of Lease Liabilities ● Maturities of lease liabilities were as follows: As of December 31, 2023 2024 2,341 2025 2,918 2026 858 Total undiscounted lease payments 6,117 Less: imputed interest (344 ) Total lease liabilities 5,773 Schedule of Future Minimum Payments Under Non-cancellable Operating Leases for Office Rental ● Future minimum lease payments for the Group’s operating leases were as follows: As of December 31, 2023 2024 2,341 2025 2,918 2026 858

Tax payable

Tax payable	12 Months Ended
	Dec. 31, 2023
Tax Payable
Tax payable	11. Tax payable Schedule of Tax Payable 2022 2023 As of December 31, 2022 2023 Value added tax 29,014 33,078 Corporate income tax 8,595 4,490 Individual income tax withholding 2,406 2,455 Urban maintenance and construction tax 79 77 Stamp duty 380 348 Total 40,474 40,448 The Group’s revenues are subject to value-added tax at a rate of approximately 6%

Accrued liabilities and other l

Accrued liabilities and other liabilities	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued liabilities and other liabilities	12. Accrued liabilities and other liabilities Schedule of Accrued Liabilities and Other Liabilities 2022 2023 As of December 31, 2022 2023 Accrued liabilities and other current liabilities Accrued advertising and marketing expense 172,497 100,868 Tax surcharges and other fees 133,471 133,502 Accrued professional service fees 6,368 1,854 Refund from depositary bank (1) 1,910 - Others 22,016 7,619 Total 336,262 243,843 (1) The Company received non-refundable incentive payment of US$ 1.8 12.5 5 2022 2.5 RMB 2.5 1.9

Convertible Loan

Convertible Loan	12 Months Ended
	Dec. 31, 2023
Convertible Loan
Convertible Loan	13. Convertible Loan On March 28, 2019, the Company entered into a Convertible Loan agreement with Alibaba Investment Limited (“Alibaba”), pursuant to which Alibaba advanced approximately US$ 171.1 1,147.0 April 4, 2022 3.00% The Convertible Loan may be converted at Alibaba’s option on or after (i) the date falling thirty-eight (38) months after the initial drawdown of the loan or (ii) upon the occurrence of an event of default (as defined in the indenture agreement) at a conversion price of US$ 60.00 The Company assessed the Convertible Loan under ASC 815 and concluded that: ● Since the conversion option is considered indexed to the Company’s own stock, bifurcation of conversion option from the Convertible Loan is not required as the scope exception prescribed in ASC 815-10-15-74 is met; ● There was no Considering the above, the Company has accounted for the Convertible Loan in accordance with ASC 470 as a single instrument as a long-term liability; the value of the Convertible Loan was measured by the cash received of US$ 171.1 1,147.0 As of December 31, 2023, the carrying value of the Company’s Convertible Loan, including unpaid interest of RMB 734.7 556.2 1,944.8 1,746.2 35.4 468.4 185.8 5 4.5 2.5

Ordinary Share

Ordinary Share	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Ordinary Share	14. Ordinary Share On July 17, 2017, Qutoutiao Inc. was incorporated as Limited Liability Company with authorized share capital of US$ 50,000 50,000 1.00 50,000 50,000 500,000,000 In February 2018, the Company established a trust to hold 10,000,000 Upon the completion of the IPO in 2018, all classes of preferred shares of the Company were converted and designated as Class A ordinary shares on a one-for-one basis. 34,248,442 Effective December 10, 2021, the Company changed the ratio of ADSs to its Class A ordinary shares (the “ADS Ratio”) from the current ADS Ratio of four ADSs to one Class A ordinary share

Share-based compensation Share

Share-based compensation Share option plan	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation Share option plan	15. Share-based compensation Share option plan In January 2019, the board of the directors of the Company approved a 2019 Equity incentive plan. The equity incentive plan replaced the 2017 equity incentive plan and 2018 equity incentive plan that the Company previously adopted in their entirety and assumed the awards previously granted under these two Share-based compensation expense related to the option awards granted to the employees amounted to approximately RMB 200.2 70.1 37.3 The following table summarizes the share option activity for the years ended December 31, 2021, 2022 and 2023: Summary of Share Option Activity Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Weighted Average Grant Date Fair Value RMB In Years RMB ‘000 RMB Outstanding at January 1, 2021 9,430,150 0.0007 7.2 391,330 78.35 Granted 1,041,585 0.0007 46.77 Exercised (3,049,281 ) 0.0007 Forfeited (1,035,306 ) 0.0007 Cancelled (6,060 ) 0.0007 Outstanding at December 31, 2021 6,381,088 0.0007 6.5 45,236 47.97 Granted 170,953 0.0007 Exercised (355,745 ) 0.0007 Forfeited (154,835 ) 0.0007 Cancelled - 0.0007 Outstanding at December 31, 2022 6,041,461 0.0007 5.1 11,609 48.39 Granted 0.0007 - Exercised 0.0007 Forfeited 0.0007 Cancelled 0.0007 Outstanding at December 31, 2023 6,041,461 0.0007 4.1 339 49.21 Vested and expected to vest at December 31, 2023 6,110,965 0.0007 4.1 343 50.15 Exercisable at December 31, 2023 6,033,599 0.0007 4.0 338 49.96 The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the estimated fair value of the underlying shares of RMB 7.1 million, 1.9 million 0.1 0.01 The total fair value of share options vested during the years ended December 31, 2021, 2022 and 2023 was RMB 115.2 66.2 nil 296.7 22.2 nil As of December 31, 2023, there was RMB 5.4 1 The binomial option pricing model is used to determine the fair value of the share options granted to employees and non-employees. There were no new grants in the year ended December 31, 2023. Fair Values of Share Options Granted Options Granted in the year ended December 31, 2021 Options Granted in the year ended December 31, 2022 Options Granted in the year ended December 31, 2023 Expected volatility 60.31% 61.94 % 50.43% 52.00 % - Risk-free interest rate 1.66% 1.96 % 2.47% 4.10 % - Exercise multiple 2.8 2.8 - Expected dividend yield 0 % 0 % - Contractual term 10 10 - Expected forfeiture rate (post-vesting) 0 20 % 0 20 % - Fair value of the common share on the date of option grant (RMB) 7.09 60.19 1.45 3.83 - Notes: （1）The risk-free interest rate of periods within the contractual life of the share option is based on the market yield of the Chinese sovereign bond/US government bond with a maturity life equal to the expected life to expiration. （2）The Company has no history or expectation of paying dividends on its ordinary shares. （3）Expected volatility is estimated based on the average of historical volatilities of the comparable companies in the same industry as at the valuation dates.

Employee benefits

Employee benefits	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee benefits	16. Employee benefits The full-time employees of the Company’s subsidiaries and VIEs that are incorporated in the PRC are entitled to staff welfare benefits including medical insurance, basic pensions, unemployment insurance, work injury insurance, maternity insurance and housing funds. These companies are required to contribute to these benefits based on certain percentages of the employees’ salaries in accordance with the relevant regulations and charge the amount contributed to these benefits to the consolidated statements of comprehensive loss. The total amounts charged to the consolidated statements of comprehensive loss for such employee benefits amounted to RMB 98.7 million, RMB 50.6 million and 30.1

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	17. Income Taxes ● Cayman Islands Under the current tax laws of the Cayman Islands, the Company is not subject to income, corporation or capital gains tax, and no withholding tax is imposed upon the payment of dividends. ● Hong Kong Profits Tax One of the Company’s subsidiaries incorporated in Hong Kong is subject to Hong Kong profits tax at the rate of 8.25 2.0 16.5 ● PRC Enterprise Income Tax (“EIT”) On March 16, 2007, the National People’s Congress of the PRC enacted an Enterprise Income Tax Law (“EIT Law”), under which Foreign Investment Enterprises (“FIEs”) and domestic companies would be subject to EIT at a uniform rate of 25 The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25 The EIT Law also imposes a withholding income tax of 10 5 25 Jifen obtained its HNTE certificate in 2016 with a valid period of three years 15 In 2021, the Company’s subsidiary, Chenxing, was approved for the Software Enterprise Status. In accordance with the EIT Law, Chenxing is entitled to enjoy full income tax exemption for 2021 and 2022, and a preferential income tax rate of 12.5 Reconciliation of the differences between statutory tax rate and the effective tax rate A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows: Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate 2021 2022 2023 Year ended December 31, 2021 2022 2023 PRC Statutory income tax rates 25.0 % 25.0 % 25.0 % Change in valuation allowance (16.9 )% (17.2 )% (28.9 )% Permanent book — tax difference (6.1 )% 4.1 % 29.0 % Difference in EIT rates of certain subsidiaries (2.5 )% (12.0 )% (26.2 )% Total (0.5 )% (0.1 )% (1.1 )% Loss from domestic and foreign components before income tax expense (benefit) The loss before income tax expenses (benefit) for domestic and foreign components’ are as follows: Schedule of Loss Before Income Tax Expenses (Benefit) for Domestic and Foreign 2021 2022 2023 Year ended December 31, 2021 2022 2023 Domestic 870,174 316,425 (49,736 ) Foreign 363,757 597,974 237,075 Total 1,233,931 914,399 187,339 Composition of income tax expense (benefit) The current and deferred portions of income tax expense (benefit) included in the consolidated statements of comprehensive loss are as follows: Schedule of Current and Deferred Portions of Income Tax Expense (Benefit) 2021 2022 2023 Year ended December 31, 2021 2022 2023 Current income tax expense 5,453 1,355 377 Deferred income tax benefit (2,403 ) (2,403 ) (2,403 ) Income tax expense (benefit) 3,050 (1,048 ) (2,026 ) Deferred tax assets and liabilities The following table sets forth the significant components of the deferred tax assets and deferred tax liabilities: Schedule of Significant Components of Deferred Tax Assets and Liabilities December 31, 2022 December 31, 2023 As of December 31, 2022 December 31, 2023 Deductible temporary difference to accruals and others 522,575 518,990 Tax losses carried forward 978,345 913,576 Less: Valuation allowance (1,500,920 ) (1,432,566 ) Total of deferred tax assets - - Taxable temporary difference related to acquired right to operate an online audio/video content platform 14,019 11,616 Total of deferred tax liabilities 14,019 11,616 Deferred tax liability of RMB 11.6 10 As of December 31, 2021, 2022 and 2023, the PRC entities of the Group had tax loss carryforwards of approximately RMB 3,311.9 4,434.5 3,936.9 million Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carryforwards. Valuation allowance was provided for net operating loss carryforwards because it was more likely than not that such deferred tax assets will not be realized due to lack of profitable history to support the Group’s estimate of its future taxable income. If events occur in the future that allow the Group to realize part or all of its deferred tax assets, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur. As of December 31, 2022 and 2023, valuation allowances of RMB 1,500.9 1,432.6 Movement of valuation allowance is as follows: Schedule of Movement of Valuation Allowance 2021 2022 2023 Year ended December 31, 2021 2022 2023 Beginning balance 1,056,253 1,309,962 1,500,920 Current year additions 434,837 287,018 59,096 Current year reversals (181,128 ) (96,060 ) (127,450 ) Ending balance 1,309,962 1,500,920 1,432,566

Other Operating Income

Other Operating Income	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Operating Income	18. Other Operating Income The Chinese tax bureau implemented a new tax rule which states that for the period between April 1, 2019 to December 31, 2021, companies from selected service industries (i.e. postal services, telecommunication services, modern services and lifestyle services) qualify for an additional 10 percent super deduction of input VAT in addition to the existing, deductible input VAT. This policy has further been extended to December 31, 2023. The Company obtained the relevant certificate in 2019 and recorded a benefit from the super deduction of RMB 33.1 million, RMB 21.0 million and RMB 2.8 million in other operating income for the years ended December 31, 2021, 2022 and 2023, respectively. In 2021, 2022 and 2023, other operating income also included a VAT related refund of RMB 73.0 million, RMB 40.8 million and RMB 6.3 million, respectively, which was recorded upon receipt.

Other Income_(Expenses), net

Other Income/(Expenses), net	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Income/(Expenses), net	19. Other Income/(Expenses), net In 2022, one of our material subsidiaries and one of the Key VIEs paid fines of RMB 82.8 10.0 1.4 In 2021, the Company deconsolidated one of its subsidiaries when a third-party investor purchased 60 23.1

Redeemable non-controlling inte

Redeemable non-controlling interests and non-controlling interests	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Redeemable non-controlling interests and non-controlling interests	20. Redeemable non-controlling interests and non-controlling interests (a) Redeemable non-controlling interests In November 2018, Fun literature, one of the Company’s wholly owned subsidiaries, entered into preferred share purchase agreements with certain third party investors to issue 3,763,440 14.0 97.1 In March 2019, Fun Literature entered into an additional preferred share agreement with a new third party investor to issue 1,097,212 4.0 27.5 Pursuant to the preferred share agreement, the Fun Series A preferred shareholders have the right to convert all or any portion of their preferred shareholdings into ordinary shares of Fun literature at the initial conversion ratio of 1 The other main rights, preferences and privileges of Fun Preferred Shares are as follows: Dividend rights If the board of Fun literature declares dividend, the Investors have the same rights as the ordinary shareholders. Liquidation preferences In the event of any liquidation, dissolution or winding up of Fun literature, either voluntarily or involuntarily, the Fun preferred shareholders rank pari passu with the ordinary shareholders. Redemption rights The Fun preferred shareholders have the right to require Fun literature to purchase all the shares from the Fun preferred shareholders within five years 60 10 Voting rights The Fun preferred shareholders have the number of votes as equal to the number of shares they hold. In September 2019, Fun Literature issued 8,794,903 50,000,000 In addition to the same preferential rights specified for the Fun Series A preferred shareholders as described above, the Fun Series B preferred shareholders are entitled to (1) a conversion price adjustment down if certain operating metrics are not met around mid 2020 (2) put option to Fun Literature’s parent company (“the Company”) to purchase at the initial investment plus any declared or accrued but unpaid dividends in the event that a certain business milestone is not met by June 30, 2020, and (3) put option whereas both the Fun Series A and B preferred shareholders have the right to require Fun Literature’s parent company to purchase all the shares from them upon (i) an unsuccessful IPO within 5 4 During 2020, as certain operating metrics were not met, the conversion price to Series B investors was adjusted down to US$ 4.307 4,643,603 20 In December 2020, Fun Literature issued 9,776,007 17,676,002 111.8 733.2 0.5 3.1 The consideration was comprised of US$ 55.0 360.6 20.8 136.1 36.6 240.0 In addition to the same preferential rights specified for the Fun Series A and B preferred shareholders as described above, the Fun Series C preferred shareholders are entitled to (1) a performance-based share transfer feature if certain operating and financial metrics are not met during 2021 (2) call option whereas if certain operating or financial metrics are met, one of the investors has the right to purchase the outstanding shares held by the other preferred share investors and Fun Literature’s parent company at a variable exercise price. The performance-based transfer feature did not have material accounting impact and was expired in 2021 with no transfer of shares incurred. Upon the Fun Series C Preferred Shares issuance, the earliest redemption date for the Fun Series A and B Preferred Shares has been extended to December 31, 2024. Accounting for redeemable non-controlling interests Since the Fun Series A, B and C Preferred Shares are redeemable at a determinable price on a determinable date, at the option of the holder, or upon occurrence of an event that is not solely within the control of Fun Literature, the Fun Series A, B and C Preferred Shares are accounted for as redeemable non-controlling interests in the Group’s consolidated balance sheets. Subsequently, the redeemable non-controlling interests should be carried at the higher of (1) the carrying amount after the attribution of net income of the Company (2) the expected redemption value. The Company accretes for the difference between the initial carrying value and the ultimate redemption price using the effective interest rate method (10% annual compound interests) from the issuance dates to the earliest possible redemption date, which is December 31, 2024. The Company assessed the impact of the extension of the earliest redemption date on the Series A and B Preferred Shares, and concluded that the amendment represented a modification rather than an extinguishment of the preferred shares. The difference of the fair value for the Fun Series A and B Preferred Shares before and after the modification is not material. For the other preferential rights described above including the conversion price adjustment and the Fun Series A, B and C preferred shareholders’ put options to the Company, with the exception of the Series C call option discussed below, the Company concluded that these embedded features do not need to be bifurcated from their host contract as they are either clearly and closely related to the equity host or they do not meet the definition of a derivative. In terms of the Series B Preferred Shares activity for the year, the downward adjustment of the conversion price did not result in a BCF that needed to be recorded as the ordinary share value on the contingency settlement date was less than the revised conversion price. The waiver of the Series B put option also did not have a material modification impact. For the repurchase of Series B preferred shares by Fun Literature’s parent company, the Company’s mezzanine equity balance was reduced by the carrying value of the preferred shares, and the difference between the consideration paid of $ 20 135.4 14.8 Specifically for the Series C call option, the Company concluded that the option should be separately accounted for and remeasured at fair value at the end of each reporting period as it represents a freestanding financial instrument. For the years ended December 31, 2021, 2022 and 2023, the value of the call option was not material. The Company’s redeemable non-controlling interests activities for the years ended in December 31, 2021, 2022 and 2023 are summarized as follows: Schedule of Redeemable Noncontrolling Interests Activities Year ended December 31, 2021 2022 2023 Beginning balance 1,093,526 1,172,218 1,414,435 Foreign exchange impact (30,034 ) 117,540 24,719 Accretion to redemption value of redeemable non-controlling interests 108,726 124,677 143,976 Ending balance 1,172,218 1,414,435 1,583,130 (b) Non-controlling interests Non-controlling interests mainly represent the Group’s overseas subsidiary’s cumulative results of operations and changes in deficit attributable to non-controlling shareholders. The subsidiary was set up by the group and the non-controlling shareholders in May 2018 with nominal capital injection and the Group and non-controlling shareholders own 62.23 37.77 non-controlling shareholders transferred all their equity interest in the subsidiary to the Company during 2021 for no consideration. The transaction did not have a material accounting impact.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related party transactions	21. Related party transactions For the years ended December 31, 2021, 2022 and 2023, the transactions and balance amount due to/from related parties was as follows: Transaction amount with related parties Schedule of Transaction and Balance Amount Due to/from Related Parties Year ended December 31, 2021 2022 2023 Services provided by the Group Advertising and marketing service provided to related parties (1) 40,263 2,451 17 Year ended December 31, 2021 2022 2023 Services received by the Group Advertisement costs charged from a related party (2) 103,275 14,564 345 Gaming cost sharing charged from a related party 11 — — Others advertising and promotional costs charged from a related party(4) 15,840 7,945 189 Balance amount with related parties As of December 31,2022 December 31,2023 Amount due from related parties (1) 48,802 45,787 Amount due to related parties (2) 592 154 (1) For the years ended December 31, 2021, 2022 and 2023, the service fee of RMB39.8 million, RMB2.5 million and nil million charged to related parties represents advertising and marketing services provided to companies under the common control of the founder, to help promote these companies’ online applications, which were developed in late 2018. As of December 31, 2022 and 2023, the amounts due from related parties that pertains to accounts receivable from related party revenues generated was RMB48.8 million and RMB45.8 million respectively. Although the balance as of December 31, 2023 is overdue, as these companies are under the common control of the founder and they have demonstrated an ability to continuously pay off their balances, the Company did not view this delay in payment as a sign of collectability risk. (1) For the years ended December 31, 2021, 2022 and 2023, the service fee of RMB 40.3 2.5 nil As of December 31, 2022 and 2023, the amounts due from related parties that pertains to accounts receivable from related party revenues generated was RMB 48.8 45.8 Although the balance as of December 31, 2023 is overdue, as these companies are under the common control of the founder and they have demonstrated an ability to continuously pay off their balances, the Company did not view this delay in payment as a sign of collectability risk. (2) In 2019 the Group entered into CPM (cost per impression) arrangements with media platforms under the common control of the founder for the Group’s customer’s advertisement placement. The total service fee charged from related parties amounted to RMB 103.3 14.6 0.3 (3) For the years ended December 31, 2021, 2022 and 2023, the service fee charged from related parties represented the expense charged from companies under common control of the founder which provided the Group advertising and marketing related promotion services.

Basic and diluted net loss per

Basic and diluted net loss per share	12 Months Ended
	Dec. 31, 2023
Net loss per share attributable to Qutoutiao Inc.’s ordinary shareholders
Basic and diluted net loss per share	22. Basic and diluted net loss per share Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended December 31, 2021, 2022 and 2023 as follows: Schedule of Basic Loss Per Share And Diluted Loss Per Share 2021 2022 2023 Year ended December 31, 2021 2022 2023 Numerator: Net loss attributable to Qutoutiao Inc. (1,239,617 ) (914,767 ) (185,313 ) Accretion on redemption value of Series A convertible redeemable preferred shares of a subsidiary (Note 20) (14,089 ) (15,947 ) (18,370 ) Accretion on redemption value of Series B convertible redeemable preferred shares of a subsidiary (Note 20) (21,726 ) (24,918 ) (28,736 ) Accretion on redemption value of Series C convertible redeemable preferred shares of a subsidiary (Note 20) (73,081 ) (83,812 ) (96,870 ) Net loss attributable to ordinary shareholders -Basic and diluted (1,348,513 ) (1,039,444 ) (329,289 ) Accretion to redemption value (73,081 ) (83,812 ) (96,870 ) Denominator: Denominator for basic and diluted loss per share Weighted- average ordinary shares outstanding Basic and diluted 75,767,532 76,629,816 76,631,037 Basic and diluted loss per share (17.80 ) (13.56 ) (4.3 0 ) Denominator for basic and diluted loss per ADS Weighted- average ADS outstanding Denominator: Basic and diluted 30,307,013 30,651,926 30,652,414 Basic and diluted loss per ADS (44.50 ) (33.91 ) (10.74 ) Note: (1) Options exercisable for a minimal exercise price are included in the denominator of basic loss per share calculation once there are no further vesting conditions or contingencies associated with them, as they are considered contingently issuable shares. Accordingly, the weighted average number of shares of 5,891,689 2,356,676 5,087,049 2,034,820 4,967,207 1,986,883 0.0007 (2) On December 2, 2021, the Company announced its plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares (the “ADS Ratio”) from the current ADS Ratio of four (4) ADSs to one (1) Class A ordinary share to a new ADS Ratio of two (2) ADSs to five (5) Class A ordinary shares For all the periods presented, basic and diluted loss per ADS, including the contingently issuable shares mentioned in (1) above, have been revised assuming the change of ADS ratio from a ratio of four ADSs to one Class A ordinary share to a new Ratio of two ADSs to five Class A ordinary shares occurred at the beginning of the earliest period presented Pursuant to ASC 260, “Earnings Per Share,” the effects of all other outstanding share options have been excluded from the computation of diluted loss per share for the years ended December 31, 2021, 2022 and 2023 due to their anti-dilutive effect. The following potential ordinary shares were excluded from the computation of diluted net loss per ordinary share for the periods presented because including them would have had an anti-dilutive effect: Schedule of Potential Ordinary Shares Excluded from Computation of Diluted Net Loss per Ordinary Share Year ended December 31, 2021 2022 2023 Share options — weighted average 546,035 219,083 219,083

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	23. Commitments and contingencies Litigation In the ordinary course of the business, the Group is subject to periodic legal or administrative proceedings. In relation to such matters, the Company currently believes that there are no existing claims or proceedings that are likely to have a material adverse effect on its financial position, results of operations or cash flows, within the next twelve months, or the outcome of these matters is currently not determinable. There are many uncertainties associated with any litigation, and these actions or other third-party claims against the Company may cause the Company to incur costly litigation and/or substantial settlement charges. If any of those events were to occur, the Company’s business, financial condition, results of operations, and cash flows could be adversely affected. The actual liability in any such matters may be materially different from the Company’s estimates, which could result in the need to adjust the liability and record additional expenses. On August 20, 2020, the Company and certain of its current and former directors and officers were named as defendants in a putative shareholder class action lawsuit filed in the United States District Court for the Southern District of New York. This action is brought on behalf of a putative class of persons who purchased or acquired the Company’s securities pursuant or traceable to the Company’s September 2018 initial public offering or April 2019 secondary public offering, or otherwise acquired the Company’s securities between September 14, 2018 and December 16, 2020 (the “Putative Class Period”). The complaint alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder based on alleged materially false or misleading statements or omissions in offering documents and/ or issued throughout the Putative Class Period. Lead Plaintiff was appointed, and a consolidated amended complaint was filed on January 15, 2021. The Company filed a motion to dismiss such amended complaint and there were no significant developments in the case. No In 2022, one of our material subsidiaries and one of the Key VIEs paid fines of RMB 82.8

Restricted net assets

Restricted net assets	12 Months Ended
	Dec. 31, 2023
Restricted Net Assets
Restricted net assets	24. Restricted net assets Relevant PRC laws and regulations permit payments of dividends by the Group’s subsidiary and the VIEs incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Group’s subsidiary and the VIEs in the PRC are required to annually appropriate 10% 50% Shortages in the availability of foreign currency may temporarily delay the ability of the PRC subsidiaries and consolidated affiliated entities to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations. Except for the above, there is no other restriction on use of proceeds generated by the Group’s subsidiary and the VIEs to satisfy any obligations of the Company. Since the Group has a consolidated shareholders’ deficit, its net asset base for purposes of calculating the proportionate share of restricted net assets of consolidated subsidiaries should be zero. Therefore, the restrictions placed on the net assets of the Company’s PRC subsidiaries with positive equity would result in the 25

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent events	25. Subsequent events The Company and Alibaba entered into a supplemental agreement to the original convertible loan agreement on April 16, 2024, which has extended the maturity date to April 30, 2025. The Company has made an undertaking to pay US$ 0.5 0.5

ADDITIONAL INFORMATION_ CONDENS

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY Condensed Financial Statements of Parent Company Rules 12-04(a) and 4-08(e)(3) of Regulation S-X require condensed financial information as to the financial position, cash flows and results of operations of a parent company as of and for the same periods for which the audited consolidated financial statements have been presented when the restricted net assets of the consolidated and unconsolidated subsidiaries together exceed 25% of consolidated net assets as of the end of the most recently completed fiscal year. The following condensed financial statements of the Parent Company have been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the Parent Company used the equity method to account for its investment in its subsidiaries and VIEs. Such investment is presented on the separate condensed balance sheets of the Parent Company as “Payables to subsidiaries and VIEs”. The Parent Company, its subsidiaries and VIEs were included in the consolidated financial statements whereby the inter-company balances and transactions were eliminated upon consolidation. The Parent Company’s share of income from its subsidiaries and VIEs is reported as share of income from subsidiaries and VIEs in the condensed financial statements. The Parent Company is a Cayman Islands company and, therefore, is not subjected to income taxes for all years presented. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. As of December 31, 2023, there were no material commitments or contingencies, significant provisions for long-term obligations or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any. Condensed Financial Information of the Parent Company BALANCE SHEET Balance Sheets RMB RMB US$ (Note 2(e)) As of December 31, 2022 2023 RMB RMB US$ (Note 2(e)) ASSETS Current assets: Cash and cash equivalents 50,989 43,409 6,115 Amount due from subsidiaries and VIEs of the Company 3,698,706 3,783,399 532,881 Prepayments and other current assets 2,935 9,436 1,328 Total current assets 3,752,630 3,836,244 540,324 Other non-current assets 1,476 - - Total non-current assets 1,476 - - Total assets 3,754,106 3,836,244 540,324 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT Current liabilities: Accrued expenses and other current liabilities 978 - - Amounts due to subsidiaries and VIEs of the Company 181,598 230,306 32,438 Total current liabilities 182,576 230,306 32,438 Non-current liabilities: Convertible loan 1,746,188 1,944,834 273,924 Investment deficit of subsidiaries and VIEs 5,416,081 5,598,492 788,531 Total non-current liabilities 7,162,269 7,543,326 1,062,455 Total liabilities 7,344,845 7,773,632 1,094,893 Shareholders’ deficit: Class A ordinary shares (US$ 0.0001 par value, 50,000,000 shares authorized as of December 31, 2022 and 2023; 42,812,245 shares issued as of December 31, 2022 and 2023; 38,726,637 and 38,726,637 shares outstanding as of December 31, 2022 and 2023) 26 26 4 Class B ordinary shares (US$ 0.0001 34,248,442 32,937,193 24 24 3 Common stock, value 24 24 3 Additional paid-in capital 5,049,458 5,086,766 716,456 Treasury stock (US$ 0.0001 4,085,608 4,085,608 (142,229 ) (142,229 ) (20,033 ) Accumulated other comprehensive loss (102,834 ) (157,502 ) (22,183 ) Accumulated deficit (8,395,184 ) (8,724,473 ) (1,228,816 ) Total shareholders’ deficit (3,590,739 ) (3,937,388 ) (554,569 ) Total liabilities and shareholders’ deficit 3,754,106 3,836,244 540,324 STATEMENTS OF COMPREHENSIVE LOSS Statements of Comprehensive Loss RMB RMB RMB US$ (Note 2(e)) Year ended December 31, 2021 2022 2023 RMB RMB RMB US$ (Note 2(e)) Operating expenses: General and administrative (208,594 ) (77,185 ) (47,078 ) (6,631 ) Total operating expenses (208,594 ) (77,185 ) (47,078 ) (6,631 ) Loss from operations (208,594 ) (77,185 ) (47,078 ) (6,631 ) Investment gains / (loss) (27,589 ) 585 1,408 198 Interest expense (30,683 ) (468,358 ) (185,794 ) (26,169 ) Foreign exchange related gains, net — (220 ) (14 ) (2 ) Other expenses, net (41 ) (42 ) (33 ) (5 ) Loss from subsidiaries and VIEs (972,710 ) (369,547 ) 46,198 6,508 Loss before provision for income taxes (1,239,617 ) (914,767 ) (185,313 ) (26,101 ) Net loss (1,239,617 ) (914,767 ) (185,313 ) (26,101 ) Accretion to redemption value of convertible redeemable preferred shares of a subsidiary (108,896 ) (124,677 ) (143,976 ) (20,278 ) Net loss attributable to ordinary shareholders (1,348,513 ) (1,039,444 ) (329,289 ) (46,379 ) Net loss (1,239,617 ) (914,767 ) (185,313 ) (26,101 ) Foreign currency translation adjustment, net of nil tax 44,690 (231,844 ) (54,668 ) (7,700 ) Comprehensive loss (1,194,927 ) (1,146,611 ) (239,981 ) (33,801 ) STATEMENTS OF CASH FLOWS Statements of Cash Flows RMB RMB RMB US$ (Note 2(e)) Year ended December 31, 2021 2022 2023 RMB RMB RMB US$ (Note 2(e)) Cash flows used in operating activities (14,807 ) (39,578 ) (31,937 ) (4,498 ) Cash flows provided by investing activities 32,506 68,089 23,535 3,315 Effect of exchange rate changes on cash 1 2,845 822 116 Net increase/(decrease) in cash and cash equivalents 17,700 31,356 (7,580 ) (1,067 ) Cash and cash equivalents, beginning of year 1,933 19,633 50,989 7,182 Cash and cash equivalents, end of year 19,633 50,989 43,409 6,115

Principal Accounting Policies (

Principal Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of preparation	(a) Basis of preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on the Group’s ability to reduce cash used in operating activities, adjust the pace of its operation expansion, control of the related expense to fund its general operations and capital expansion needs, and the ability to pursue financing arrangements and obtain additional funds from the sale of its assets to support its working capital requirements and its obligations and commitments on loans and borrowings when they become due. The following factors raise substantial doubt about the Group’s ability to continue as a going concern: ● For the years ended December 31, 2021, 2022 and 2023, the Group incurred net losses of RMB 1,240.2 914.8 185.3 ● For the years ended December 31, 2021, 2022 and 2023, the Group had net cash used in operating activities of RMB 279.1 443.8 65.7 ● As of December 31, 2023, the Group had an accumulated deficit of RMB 8,724.5 458.9 ● As of December 31, 2023, the Group had cash, cash equivalents, restricted cash and short-term investments of RMB 91.7 ● As of December 31, 2023, as discussed in Note 13 and Note 25 to the consolidated financial statements, the Group has a Convertible Loan from Alibaba (“Convertible Loan”) of approximately RMB 1.94 171.1 The liquidity of the Group is primarily dependent on management’s ability to adjust the pace of its operation expansion, to control operating cost and expenses to reduce the cash used in operating cash flows, to pursue financing arrangements, including the renewal of its Convertible Loan with the creditor, and to obtain additional funds from the sale of its assets. The Company has carried out a review of its cash flow forecast for the twelve months from the date of issuance of the consolidated financial statements. In preparing the cash flow forecast, the Company’s management has considered historical cash requirements of the Group, the Group’s expected loan repayment obligations in 2024 and beyond, and the Company’s plan to further reduce operating costs and expenses. The Company is currently exploring a variety of measures to improve the Group’s liquidity and financial position as follows: The Company continues to optimize its user loyalty programs and traffic acquisition strategy to efficiently control and reduce costs and continues to be selective in their content and better leverage its existing content varieties to attract and maintain users. These measures can in turn lead to savings in user related costs. The Company further plans to preserve liquidity and manage cash flows by reducing expenditure on developing novel applications and limiting other general and administrative expenses. The Company also plans to obtain additional external financing and funds through, including but not limited to, additional credit facilities obtained from banks in the normal course of business, potential additional issuances of equity and/ or debt as a Group or through its subsidiaries, and sale of its assets, including the Group’s equity interest in its subsidiaries, to third parties. The Convertible Loan had the original maturity date on April 4, 2022 (Note 13). The Company and Alibaba entered into several supplemental agreements to the original convertible loan agreement, pursuant to which the maturity date of the Convertible Loan has been extended to April 30, 2025. The interest rate of the Convertible Loan has also been amended from an original compound rate of 3 9 3 312.7 Based on the management’s assessment, there can be no assurance, however, that the above operating measures will be successfully completed due to factors outside of the Company’s control. There can also be no assurance that new financing, additional funds from the sale of assets, extension of the maturity date of the Convertible Loan under the supplemental agreement, continuous renewal of the Convertible Loan, or other transactions will be available to the Company on commercially acceptable terms, or at all. In addition, the potential worsening global economic conditions may adversely impact the Group’s ability to secure additional financing. Facts and circumstances including accumulated and recurring losses from operations, net cash used in operating activities, negative working capital and uncertainties on the repayment of the Convertible Loan raise substantial doubt about the Group’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.
Use of estimates	(b) Use of estimates The preparation of the Group’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from such estimates. The Company believes that revenue recognition, liabilities related to loyalty programs, consolidation of VIEs, allowance for credit losses, determination of share-based compensation and impairment assessment of long-lived assets reflect more significant judgments and estimates used in the preparation of its consolidated financial statements. Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could materially differ from these estimates.
Consolidation	(c) Consolidation The Group’s consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIEs and a VIEs’ subsidiaries for which the Company or its subsidiary is the primary beneficiary. All transactions and balances among the Company, its subsidiaries, its VIEs have been eliminated upon consolidation. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIEs’ economic performance, and also the Group’s obligation to absorb losses of the VIEs that could potentially be significant to the VIEs or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. The Company’s WFOEs and ultimately the Company hold all the variable interests of the VIEs and its subsidiaries, and have been determined to be the primary beneficiaries of the VIEs. The following table sets forth the assets, liabilities, results of operations and cash flows of VIEs and its subsidiaries, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and its subsidiaries are eliminated in the balances presented below: Schedule of Assets, Liabilities, Result of Operations and Cash Flows of VIEs and its Subsidiaries December 31, 2022 December 31, 2023 As of December 31, 2022 December 31, 2023 Assets Current assets Cash and cash equivalents 32,147 23,590 Restricted cash 7,384 17,008 Short-term investments 6,402 - Accounts receivable, net 110,523 73,143 Amount due from subsidiaries of the Company 470,966 320,387 Amount due from related parties 48,284 45,182 Prepayments and other current assets 95,568 91,422 Total current assets 771,274 570,732 Non-current assets Property and equipment, net 5,002 493 Right-of-use assets 21,879 5,633 Intangible assets 6,574 3,883 Other non-current assets 1,426 666 Total non-current assets 34,881 10,675 Total assets 806,155 581,407 Liabilities Current liabilities Accounts payable 330,550 349,993 Amount due to subsidiaries of the Company 5,644,725 5,560,180 Amount due to related parties - 81 Registered users’ loyalty payable 29,773 13,863 Advance from customers and deferred revenue 11,963 12,351 Salary and welfare payable 28,048 15,784 Tax payable 29,584 36,588 Lease liabilities, current 15,083 2,407 Accrued liabilities related to users’ loyalty programs 64,589 33,489 Accrued liabilities and other current liabilities 301,713 220,104 Total current liabilities 6,456,028 6,244,840 Lease liabilities, non-current 7,599 3,366 Total liabilities 6,463,627 6,248,206 2021 2022 2023 Year ended December 31, 2021 2022 2023 Revenues: Third-party revenues 4,336,388 828,341 673,730 Intra-Group revenues 188,298 579,967 637,646 Total revenues 4,524,686 1,408,308 1,311,376 Cost of revenues: Third-party cost of revenues (867,701 ) (446,189 ) (365,857 ) Intra-Group cost of revenues (18,959 ) (376,184 ) (571,434 ) Total cost of revenues (886,660 ) (822,373 ) (937,291 ) Gross profit 3,638,026 585,935 374,085 Operating expenses: Third-party operating expenses (4,067,548 ) (572,365 ) (248,310 ) Intra-Group operating expenses (951,702 ) (384,197 ) (140,418 ) Total operating expenses (5,019,250 ) (956,562 ) (388,728 ) Other operating income 18,659 9,153 4,237 Loss from Operations (1,362,565 ) (361,474 ) (10,406 ) Non-operating income/(expense) 22,282 (9,311 ) 859 Loss before income tax expense (1,340,283 ) (370,785 ) (9,547 ) Income tax benefit /(expense) (131 ) (54 ) 412 Equity in loss of an affiliate company (3,195 ) (1,416 ) - Net loss (1,343,609 ) (372,255 ) (9,135 ) 2021 2022 2023 Year ended December 31, 2021 2022 2023 Net cash used in operating activities (190,975 ) (22,037 ) (58,155 ) Net cash provided by investing activities 63,047 28,625 59,222 Net cash provided by financing activities 84,471 — — Net (decrease)/ increase in cash and cash equivalents (43,457 ) 6,588 1,067 Cash and cash equivalents at the beginning of year 76,400 32,943 39,531 Cash and cash equivalents, restricted cash at the end of year 32,943 39,531 40,598 In accordance with the aforementioned VIE agreements, the Company has power to direct activities of the VIEs, and can have assets transferred out of VIEs. Therefore the Company considers that there is no asset in VIEs that can be used only to settle obligations of the VIEs, except for registered capital, as of December 31, 2022 and 2023. As the VIEs and their subsidiaries were incorporated as limited liability Company under the PRC Company Law, the creditors do not have recourse to the general credit of the Company for all the liabilities of the VIEs. VIEs’ assets comprise both recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include leasehold improvements, computers and network equipment and purchased intangible assets which are recognized in the Company’s consolidated balance sheet. The unrecognized revenue-producing assets mainly consist of patents, trademarks and assembled workforce which are not recorded in the financial statements of VIEs as they did not meet the recognition criteria set in ASC 350-30-25. There were no pledges or collateralization of the Affiliated Entities’ assets. As the Company is conducting its business mainly through the Affiliated Entities, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss. There is no VIEs where the Company has variable interest but is not the primary beneficiary. The Group believes that the contractual arrangements among its shareholders and WFOEs comply with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements and if the shareholders of the VIEs were to reduce their interests in the Company, their interests may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms. The Company’s ability to control the VIEs also depends on the voting rights proxy and the effect of the share pledge under the Equity Interest Pledge Agreement and the WFOEs have to vote on all matters requiring shareholder approval in the VIEs. As noted above, the Company believes this voting right proxy is legally enforceable but may not be as effective as direct equity ownership.
Functional Currency and Foreign Currency Translation	(d) Functional Currency and Foreign Currency Translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated outside of PRC is the United States dollar (“US$”), while the functional currency of the PRC entities in the Group is RMB as determined based on the criteria of ASC 830, Foreign Currency Matters. Transactions denominated in other than the functional currencies are re-measured into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in other than the functional currency are re-measured at the balance sheet date exchange rate. The resulting exchange differences are recorded in the consolidated statements of comprehensive loss as foreign exchange related gain / loss. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expense items are generally translated at the average exchange rates prevailing during the fiscal year. Foreign currency translation adjustments arising from these are accumulated as a separate component of shareholders’ deficit on the consolidated financial statement. The exchange rates used for translation on December 31, 2022 and December 29, 2023 were US$1.00= RMB 6.9646 7.0827
Convenience Translation	(e) Convenience Translation Translations of balances in the Group’s consolidated balance sheet, consolidated statement of operations and comprehensive loss and consolidated statement of cash flows from RMB into US$ as of and for the year ended December 31, 2023 are solely for the convenience of the readers and were calculated at the rate of US$1 = RMB 7.0999
Fair value of financial instruments	(f) Fair value of financial instruments Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value include: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities. Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Group’s financial instruments consist principally of cash and cash equivalents, short-term investments, accounts receivable, equity securities, short-term borrowings, accounts payable, advance from advertising customers, registered users’ loyalty payable, other liabilities, and Convertible Loan. As of December 31, 2022 and 2023, the carrying values of cash and cash equivalents, short-term investments in time deposits, current accounts receivable, non-marketable equity securities, short-term borrowings, accounts payable, advance from customers and deferred revenue, registered users’ loyalty payable and other liabilities approximated their fair values reported in the consolidated balance sheets due to the short-term maturities of these instruments. The estimated fair value of noncurrent accounts receivable approximates the carrying value as the discounting impact is not material. The estimated fair value of the Convertible Loan approximated its carrying amount as the stated interest rate of the loan is close to the market rate. The Convertible Loan would qualify as Level 3 in the fair value hierarchy if it was to be carried at fair value due to the presence of significant unobservable inputs. Assets and liabilities measured at fair value on a recurring basis On a recurring basis, the Group measures its short-term investments in wealth management products and publicly traded equity security at fair value. The following table sets forth the Group’s assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy: Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2022 level 1 level 2 level 3 Balance at fair value Assets Short-term investments—Wealth management products — 26,402 — 26,402 As of December 31, 2023 level 1 level 2 level 3 Balance at fair value Assets Short-term investments—Wealth management products — — — — The Group values its investments in wealth management products issued by certain banks using quoted subscription/redemption prices published by these banks, and accordingly, the Group classifies the valuation techniques that use these inputs as Level 2. Assets and liabilities measured at fair value on a non-recurring basis The equity securities without readily determinable fair value are measured at fair value on a non-recurring basis, adjusted for observable transactions for identical or similar investments of the same issuer or impairment. These securities are classified as Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs such as volatility, rights, and obligations of the securities we hold.
Cash and Cash Equivalents	(g) Cash and Cash Equivalents Cash and cash equivalents include cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less at the time of purchase and are readily convertible to known amounts of cash.
Restricted cash	(h) Restricted cash As of December 31, 2022 and 2023, restricted cash of RMB 7.6 million and RMB 17.1
Short-term investments	(i) Short-term investments Short-term investments include time deposits with original maturities between three months and a year with banks in the PRC and investments in wealth management products issued by certain banks which are redeemable by the Company at any time. The company classifies investments as current based on the nature of the investments and their availability for use in current operations. The wealth management products are unsecured with variable interest rates and primarily invested in debt securities issued by the PRC government, corporate debt securities and central bank bills. The Company measures the investments in wealth management products at fair value using the quoted subscription or redemption prices published by these banks. As of December 31, 2023, no
Accounts receivable, net	(j) Accounts receivable, net Accounts receivable represents those receivables derived in the ordinary course of business, net of an allowance for any potentially uncollectible amounts, and are classified as current or long-term in accordance with customer payment terms. The Company makes estimates of expected credit and collectability trends for the allowance for credit losses based upon its assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions that may vary by geography, customer-type, or industry sub-vertical, and other factors that may affect its ability to collect from customers. Expected credit losses are recorded as general and administrative expenses on our consolidated statements of comprehensive loss. Although the Company has historically not experienced significant credit losses, they may experience increasing credit loss risks from accounts receivable in future periods if its customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the current COVID-19 pandemic, or other customer-specific factors, and actual experience in the future may differ from their past experiences or current assessment.
Property and equipment, net	(k) Property and equipment, net Property and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight-line method over their estimated useful lives. The estimated useful lives are as follows: Schedule of Estimated Useful Lives Leasehold improvements Over the shorter of lease term or estimated useful lives of the assets Office equipment 3 5 Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive loss.
Long-term equity investments	(l) Long-term equity investments The Company’s equity investments are accounted for as follows: ● Non-marketable equity securities that do not have readily determinable fair value are measured using the measurement alternative recorded at cost less any impairment, plus or minus changes resulting from subsequent qualifying observable price changes. Any changes in carrying value of these equity investments are recorded in the consolidated statements of comprehensive loss. For the Company’s long-term investment in an equity fund, the Company elected to apply the net asset value (NAV) practical expedient per ASC 820 to measure these investments at fair value. The NAV is the estimated fair value of these investments, and changes in fair value is recorded in the consolidated statements of comprehensive loss. The fair value of this equity fund is nil ● Equity method investments are securities that the Company does not control but is able to exert significant influence over the investments. These investments are initially recorded at cost and subsequently recognizes proportionate share of each equity investee’s net income or loss and to reflect the amortization of basis differences in the consolidated statements of comprehensive loss and accordingly adjusts the carrying amount of the investments. An impairment charge is recorded if the carrying amount of the investments exceed their fair value and this condition is determined to be other-than-temporary. When the Company’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Company does not recognize further losses, unless the Company has incurred obligations or made payments or guarantees on behalf of the equity investee. The Company monitors its investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends and other company-specific information. Refer to Note 5– Investments for additional information.
Goodwill and intangible assets	(m) Goodwill and intangible assets Intangible assets Intangible assets include the acquired right to operate an online audio/video content platform, which is amortized on a straight-line basis over its estimated useful life of 10 3 10 As part of the Fun Series C Preferred Shares arrangement (see Note 20), the Company acquired intangible assets. For accounting purposes, the consideration was allocated to developed technology and user data. The acquired technology is amortized over 5 3 The estimated life of intangible assets subject to amortization is reassessed if circumstances occur that indicate the life has changed. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Goodwill Goodwill represents the excess of the total cost of the acquisition over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity as a result of the Company’s acquisitions of interests in its subsidiaries and VIEs. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of the reporting unit is less than its carrying value. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit and other specific information related to the operations. If the reporting unit does not pass the qualitative assessment, the Company estimates its fair value and compares the fair value with the carrying value of its reporting unit, including goodwill. If the fair value is greater than the carrying value of its reporting unit, no impairment is recorded. If the fair value is less than the carrying value, an impairment loss is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. The impairment charge would be recorded to earnings in the consolidated statements of operations. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets, liabilities and goodwill to reporting units and the determination of the fair value of each reporting unit. The Company estimates the fair value of the reporting unit using a discounted cash flow model. This valuation approach considers various assumptions including projections of future cash flows, perpetual growth rates and discount rates. The assumptions about future cash flows and growth rates are based on management’s assessment of a number of factors, including the reporting unit’s recent performance against budget, performance in the market that the reporting unit serves, as well as industry and general economic data from third party sources. Discount rate assumptions reflect an assessment of the risk inherent in those future cash flows. Changes to the underlying businesses could affect the future cash flows, which in turn could affect the fair value of the reporting unit. Management performs its annual goodwill impairment test as of December 31. Each quarter the Company reviews the events and circumstances to determine if there are indicators that goodwill may be impaired. As of December 31, 2022 and 2023, there is no event or any circumstance that the Company identified, which indicated that the fair value of the Company’s reporting unit was substantially lower than the respective carrying value. There was no no
Impairment of long-lived assets other than Goodwill	(n) Impairment of long-lived assets other than Goodwill For other long-lived assets including property and equipment, other non-current assets and intangible assets, the Group evaluates for impairment whenever events or changes (triggering events) indicate that the carrying amount of an asset may no longer be recoverable. The Group assesses the recoverability of the long-lived assets by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to receive from use of the assets and their eventual disposition. Such assets are considered to be impaired if the sum of the expected undiscounted cash flows is less than the carrying amount of the assets. The impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was no
Leases	(o) Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liability, and operating lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, which it calculates based on the credit quality of the Company and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease. The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) elect for each lease not to separate non-lease components from lease components and instead to account for each separate lease component and the non-lease components associated with that lease component as a single lease component; (ii) for leases that have lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not to apply ASC 842 recognition requirements; and (iii) the Company elected to apply the package of practical expedients for existing arrangements entered into prior to January 1, 2019 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied to existing leases, and (c) initial direct costs.
Advances from customers and deferred revenue	(p) Advances from customers and deferred revenue Certain third party advertising customers pay in advance to purchase advertising and marketing services. Cash proceeds received from customers are initially recorded as advances from advertising customers and are recognized as revenues when revenue recognition criteria are met. Advances from customers and deferred revenue also consist of prepayments from users in the form of the purchase of the Group’s virtual currency that can be used for live streaming and online games that are not yet consumed or converted into virtual items, and that upon the consumption or conversion, are recognized as revenue according to the prescribed revenue recognition policies described below.
Revenue recognition	(q) Revenue recognition The following is a description of principal activities of the Group from which the Group generates its revenue under ASC 606. (i) Advertising and marketing The Group’s main revenue generating activity is the provision of online advertising and marketing services. The Group generates revenue from performing specific actions, i.e. an optimized cost per thousand impressions (“oCPM”) or optimized cost per click (“oCPC”) basis or related advertising and marketing services. Revenue is recognized on an oCPM or oCPC basis as impressions or clicks are delivered, or when related advertising and marketing services are performed. Whether revenues should be reported on a gross or net basis is determined by an assessment of whether the Group is acting as the principal or an agent in the transaction. In determining whether the Group acts as the principal or an agent, the Group follows the accounting guidance for principal-agent considerations. Such determination involves judgment and is based on evaluation of the terms of each arrangement. a. Advertising and marketing service provided to advertising customers The Group provides advertising and marketing services to advertising customers and recognizes advertising and marketing revenues on a gross basis as impressions or clicks are delivered. The Group receives refundable advance payments from advertising customers. If the advance payment deposited in the Group is not ultimately used for the advertisement on Qutoutiao, the Group refunds the advance payment back to advertising customers. Starting from 2019, the placement of the advertising customers’ advertisements is not restricted to be only on Qutoutiao’s application. When advertisements cannot be placed on Qutoutiao due to capacity limit or bidding, the Group has the discretion to choose a media platform for advertisement placement. The Group determined it is the principal to the advertising customer when the Group (1) is the primary obligor ultimately responsible for delivering advertising and marketing services to the advertising customers, (2) has the discretion in pricing and (3) takes certain risks of loss due to the different settlement methods between the media platform and advertising customers. Hence, the Group recognizes the revenue on a gross basis. In May 2019, the Group also started a new advertising and marketing service by providing integrated marketing solution to its customers based on their customized needs. The services include but are not limited to designing and executing a systematic marketing plan online and offline, coming up with best solutions for online promotion of the customers’ mobile application by selecting appropriate advertisement platforms, designing the advertisement clips, monitoring advertisement effects and organizing offline marketing campaigns. The Group pays the vendors or suppliers when costs are incurred and advertisements are displayed while the Group charges the service fees to the customers based on specified achievements, b. Advertising and marketing services provided to advertising platforms The Group provides advertising and marketing services to other third-party advertising platforms. In the arrangement with these advertising platforms, these advertising platforms are the customers of the Group and the performance obligation of the Group is to provide traffic service to these advertising platforms. Therefore, the Group recognizes revenue based on the net amount as impressions or clicks are delivered. (ii) Other services a. Agent and platform service The Group also provides agent and platform service by facilitating the advertising customers to select third-party advertising platforms to display their advertisements. The Group recognizes revenue from the advertising customers based on the net amount equal to certain agreed percentage of the gross revenue earned by the third-party advertising platforms when impressions or clicks are successfully delivered. b. Live streaming In January 2019, the Group started operating its own live streaming platform. It generates revenue from sales of virtual items in the platform. Users can access the platforms and view the live streaming content showed by the performers for free. The Group shares a portion of the sales proceeds of virtual items (“revenue sharing fee”) with performers and talent agencies in accordance with their revenue sharing arrangements. The Group evaluates and determines that it is the principal and views users to be its customers. The Group reports live streaming revenues on a gross basis. Accordingly, the amounts paid by users to purchase virtual items are recorded as revenues and revenue sharing fee paid to performers and talent agencies are recorded as cost of revenues. Where the Group is the principal, it controls the virtual items before they are transferred to users. Its control is evidenced by the Group’s sole ability to monetize the virtual items before they are transferred to users, and is further supported by the Group being primarily responsible to users and having a level of discretion in establishing pricing. The Group designs, creates and offers various virtual items for sales to users with pre-determined selling price. Users can purchase and present virtual items to performers to show support for their favorite performers and virtual items are consumed and used upon purchase. Accordingly, live streaming revenue is recognized immediately when virtual items are used. The Group does not have further obligations to the user after the virtual items are consumed immediately. The Group may also enter into contracts that can include various combinations of virtual items and privileges such as priority speaking rights or special symbols, which are generally capable of being distinct and accounted for as separate performance obligations, such as the VIP member program. Judgments are required as follow: 1) determining whether those virtual items and privilege are considered distinct performance obligations that should be accounted for separately versus together, 2) determining the standalone selling price for each distinct performance obligation, and 3) allocating of the arrangement consideration to the separate accounting of each distinct performance obligation based on their relative standalone selling prices. In instances where standalone selling price is not directly observable as the Group does not sell the virtual item or privilege separately, the Group determines the standalone selling price based on pricing strategies, market factors and strategic objectives. The Group recognizes revenue for each of the distinct performance obligations identified in accordance with the applicable revenue recognition method relevant for that obligation. For consumable virtual items, revenues is recognized immediately when the virtual item is used. For durable virtual items, revenue is recognized over the estimated user relationship periods. For the years ended December 31, 2021, 2022 and 2023, the VIP membership program was not material. c. Online games The Group generates revenues from offering virtual items in online games developed by third parties to game players. Users play games on the Group’s various mobile applications free of charge and are charged for purchases of consumable virtual items, which can be utilized in the online games to enhance their game-playing experience. Pursuant to contracts signed between the Group and the respective game developers, although game developers own the games’ copyrights and other intellectual property, in general the Group controls the games and takes the main responsibilities to operate the games, maintains a functioning gaming environment for the players, sets the pricing of virtual items, collects the in-game purchase payment from the players and shares the revenue based on a pre-agreed scheme to the game developers. The users make the purchases in the games operated and managed by the Group and the Group provides the game services to the users. Accordingly, the Group is the principal in the arrangements. The revenues derived from these online games are recorded on a gross basis and the amount paid to game developers are recorded as cost of revenue. Online games revenue is recognized immediately when the consumable virtual item is purchased and used. The Group does not have further obligations to the user after the virtual items are consumed immediately. In addition, the Group sells the advertisement spots placed in the online games to the advertisers and gets paid based on views/clicks. The advertisements price is negotiated and determined by the Group with a shared fee to be paid to the game developer. Similar to the advertising and marketing service provided to advertising customers described above in 2(r)(i) a, the Group is the principal in the arrangement and revenue is recognized on a gross basis as clicks or impressions are delivered with fees paid to game developers as cost of revenue. D. Disaggregation of revenue In the following table, revenue is disaggregated by major service line and gross vs net recognition. Schedule of Disaggregation of Revenue Major service line Year ended December 31, 2021 2022 2023 RMB RMB RMB US$(Note 2(e)) Major service line Advertising service provided to advertising customers, recorded gross 2,533,327 404,443 420,275 59,196 Advertising service provided to advertising platforms, recorded net 1,557,056 434,934 149,294 21,027 Other service Agent and platform services 22,004 4,355 16,548 2,331 Live streaming and online games 140,269 195,213 155,659 21,924 Other revenues 86,947 44,100 3,781 533 Total Other services 249,220 243,668 175,988 24,788 Net Revenues 4,339,603 1,083,045 745,557 105,011 For the years ended December 31, 2021, 2022 and 2023 revenue in advertising services provided to advertising customers which recorded gross include integrated marketing solution services which amounted to RMB 39.8 nil nil
Cost of revenues	(r) Cost of revenues The Group’s cost of revenues consists primarily of (i) bandwidth and server costs, (ii) costs incurred to vendors and suppliers for advertising and marketing services, (iii) content procurement costs paid to third-party professional media companies and freelancers, (iv) direct cost related to in-house content, rental cost, depreciation, salary and welfare for cost personnel and other miscellaneous costs, (v) costs incurred for mobile gaming and live streaming content, (vi) cultural development fee and surcharges. The Group is subject to a cultural development fee on the provision of advertising services in the PRC. The applicable tax rate prior to June 30, 2019 was 3 % of the net advertising revenues, and was changed to 1.5 % effective from July 1, 2019 to December 31, 2024. Due to the COVID-19 pandemic, the Group was exempt from the cultural development fee for 2020 and 2021.
Research and development expenses	(s) Research and development expenses Research and development expenses consist primarily of (i) salary and welfare for research and development personnel, (ii) stock-based compensation for research and development personnel (iii) office rental expenses (iv) IT service fees and (v) depreciation of office premise and servers utilized by research and development personnel. Costs incurred during the research stage are expensed as incurred. Costs incurred in the development stage, prior to the establishment of technological feasibility, which is when a working model is available, are expensed when incurred. The Company accounts for internal use software development costs in accordance with guidance on intangible assets and internal use software. This requires capitalization of qualifying costs incurred during the software’s application development stage and to expense costs as they are incurred during the preliminary project and post implementation/operation stages. For the years ended December 31, 2021, 2022 and 2023, the Company has not capitalized any costs related to internal use software because the inception of the Group software development costs qualified for capitalization have been insignificant.
Sales and marketing expenses	(t) Sales and marketing expenses Sales and marketing expenses consist primarily of (i) rewards to registered users related to loyalty programs, (ii) advertising and marketing expenses, (iii) charges for short mobile message service to registered users (iv) salary and welfare for sales and marketing personnel and (v) stock-based compensation expenses for sales and marketing personnel. The advertising and marketing expenses amounted to RMB 2,662.0 million , RMB 234.0 million and RMB 117.9 million during the years ended December 31, 2021, 2022 and 2023, respectively.
General and administrative expenses	(u) General and administrative expenses General and administrative expenses also consist of (i) salary and welfare for general and administrative personnel, (ii) office expense,
User loyalty programs	(v) User loyalty programs The Group has loyalty programs for its registered users primarily in its mobile Qutoutiao and Midu to enhance user engagement, loyalty and to incentivize word-of-mouth referrals. Through the programs, the Group give users loyalty points and in certain cases cash credits for taking specific actions. Such actions primarily include referring new users to register on the platforms or through the viewing or sharing of content, providing valuable comments and encourage inactive users to continue to the platforms. The cost of users’ loyalty points is recognized as sales and marketing expenses in the consolidated statements of operations and comprehensive loss. On Qutoutiao, the Group’s users can redeem earned rewards, which is in a form of cash credits reflecting the same amount of cash value, upon redemption. The Group offers its users the flexibility to choose a number of rewards payment options, including i) online cash out, when the cash credits balance exceeds a certain cash out threshold or at a lower cash out threshold if the users log on Qutoutiao for a certain number of consecutive days, ii) purchasing virtual items in live streaming and online games, iii) purchasing merchandise through Qutoutiao’s online market place. On Midu Qutoutiao The Group also has a number of other loyalty programs for various applications. As of December 31, 2023, the loyalty program volume associated with these applications are immaterial. For Qutoutiao’s loyalty program, rewards to its users are cleared from their accounts and will not be redeemable after the users have been inactive for 90 days. Other loyalty programs also have similar rewards clearing policies after the users have been inactive for a certain period of time. The Group’s experience indicates that a certain portion of rewards is never redeemed in cash by its users, which the Group refers to as a “breakage”. The liability accrued for the reward is reduced by the estimated breakage that is expected to occur. The Group estimates breakage based upon its analysis of relevant reward history and redemption pattern as well as considering the expiration period of the rewards under the users agreement. In the assessment of breakage, each individual user’s account is categorized into certain pools of different range of outstanding rewards, and then further grouped into certain sub-groups on the basis of inactivity days. The past reward redemption pattern in those sub-groups was used to estimate the respective breakage for the outstanding rewards in each sub-group at each period end. For the years ended December 31, 2021, 2022 and 731.2 194.8 40.2 673.8 250.9 89.6 81.4 63.9 48.4 15.3 6.2 2.0 8.0 1.4 0.04 Once the amount of accumulated unredeemed rewards for individual user exceeds the cash out threshold or the continuous log-on criteria is reached, the Group reclassifies the balance as “registered users’ loyalty payable” in consolidated balance sheet as a monetary liability and reverses the amount of breakage originally assumed. The registered users’ loyalty payable is derecognized only if (1) the Group pays the user and is relieved of its obligation for the liability by paying the users, including delivery of cash or (2) the Group is legally released from the liability. The actual cost to settle the estimated liability may differ from the estimated liability recorded. As of December 31, 2022 and 2023, users’ reward recorded in Registered Users’ Loyalty Payable were RMB 29.8 13.9 64.6 33.5
Employee social security and welfare benefits	(w) Employee social security and welfare benefits Employees of the Group in the PRC are entitled to staff welfare benefits including pension, work-related injury benefits, maternity insurance, medical insurance, unemployment benefit and housing fund plans through a PRC government-mandated multi-employer defined contribution plan. The Group is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made.
Income taxes	(x) Income taxes Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are accounted for using an asset and liability method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive loss in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of, the deferred tax assets will not be realized. Uncertain tax positions The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statements recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance was also provided on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group’s uncertain tax positions and determining its provision for income taxes. The Group recognizes interests and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheets and under other expenses in its statements of operations and comprehensive loss. The Group did no no
Treasury Stock	(y) Treasury Stock The Group accounts for treasury stock using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury stock account in the consolidated balance sheets. At retirement, the ordinary shares account is charged only for the aggregate par value of the shares. The excess of the acquisition cost of treasury shares over the aggregate par value is allocated between additional paid-in capital (up to the amount credited to the additional paid-in capital upon original issuance of the shares) and retained earnings. In the event that treasury stock is reissued at an amount different from the cost the Company paid to repurchase the treasury stock, the Company will recognize the difference in additional paid-in capital by using the specified identification method.
Share-based compensation	(z) Share-based compensation Share-based compensation costs are measured at the grant date. The share-based compensation expenses have been categorized as either cost of revenue, general and administrative expenses, selling and marketing expenses or research and development expenses, depending on the job functions of the grantees. Option granted to employees For the options granted to employees, the compensation expense is recognized using the straight-line method over the requisite service period. Forfeitures are estimated at the time of grant, with such estimate updated periodically and with actual forfeitures recognized currently to the extent they differ from the estimate. In determining the fair value of the Company’s share options, the binomial option pricing model has been applied. Option granted to non-employee For share-based awards granted to non-employees, the Group accounts for the related share-based compensation expenses in accordance with ASC subtopic, 505-50 (“ASC 505-50”), Equity-Based Payments to Non-Employees. Under the provision of ASC 505-50, options of the Company issued to non-employees are measured based on fair value of the options which are determined by using the binomial option pricing model. These options are measured as of the earlier of the date at which either: (1) commitment for performance by the non-employee has been reached; or the non-employee’s performance is complete. Subsequent to the completion of the performance, the share-based award is assessed in accordance with ASC 815 to determine whether the award meets the definition of a derivative. In 2020, the entity adopted ASU 2018-07, and from the adoption date the Company applied the same guidance to both employee and nonemployee share-based awards, which nonemployee share- based payment equity awards are measured at the grant-date fair value of the equity instruments, similar to employee share-based payment equity awards.
Government grants	(aa) Government grants Government grants are recognized as other income/ (expenses) when received. For the years ended December 31, 2021, 2022 and 2023, the Group received financial subsidies of RMB 7.2 4.5 0.1
Statutory reserves	(ab) Statutory reserves The Group’s subsidiaries, consolidated VIEs and its subsidiaries incorporated in the PRC are required on an annual basis to make appropriations of retained earnings set at certain percentage of after-tax profit determined in accordance with PRC accounting standards and regulations (“PRC GAAP”). Appropriation to the statutory general reserve should be at least 10 50 The general reserve fund can only be used for specific purposes, such as setting off the accumulated losses, enterprise expansion or increasing the registered capital. Appropriations to the general reserve funds are classified in the consolidated balance sheets as statutory reserves. There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Group was not done so. Relevant laws and regulations permit payments of dividends by the PRC subsidiaries and affiliated companies only out of their retained earnings, if any, as determined in accordance with respective accounting standards and regulations. Accordingly, the above balances are not allowed to be transferred to the Company in terms of cash dividends, loans or advances.
Related parties	(ac) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.
Dividends	(ad) Dividends Dividends are recognized when declared. No dividends were declared for the years ended December 31, 2021, 2022 and 2023, respectively. The Group does not have any present plan to pay any dividends on ordinary shares in the foreseeable future. The Group currently intends to retain the available funds and any future earnings to operate and expand its business.
Loss per share	(ae) Loss per share Basic loss per share is computed by dividing net loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year using the two class method. Ordinary shares issuable for little or no cash consideration are also included as outstanding shares once all of their conditions have been met as they are considered contingently issuable shares. Using the two class method, net loss is allocated between ordinary shares and other participating securities (i.e. preferred shares) based on their participating rights. Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti-dilutive. Ordinary share equivalents consist of the ordinary shares issuable upon the conversion of the stock options, using the treasury stock method. Except for voting rights, the Class A and Class B ordinary shares have all the same rights and therefore the loss per share for both classes of shares are identical.
Comprehensive loss	(af) Comprehensive loss Comprehensive loss is defined as the change in shareholders’ deficit of the Company during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Comprehensive loss is reported in the consolidated statements of comprehensive loss. Accumulated other comprehensive losses of the Group include the foreign currency translation adjustments.
Segment reporting	(ag) Segment reporting Operating segments are defined as components of an enterprise engaging in businesses activities for which separate financial information is available that is regularly evaluated by the Group’s chief operating decision makers in deciding how to allocate resources and assess performance. The Group’s chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results including revenue, gross profit and operating profit at a consolidated level only. The Group does not distinguish between markets for the purpose of making decisions about resources allocation and performance assessment. Hence, the Group has only one operating segment and one reportable segment.
Recent Adopted Accounting Pronouncements	(ah) Recent Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Topic 805 “Business Combinations” – Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. To achieve this, an acquirer may assess how the acquiree applied Topic 606 to determine what to record for the acquired revenue contracts. The Group adopted this standard on January 1, 2023 with no material impact on its consolidated financial statements and related disclosures as a result of adopting the standard.
Recent Issued Accounting Pronouncements	(ai) Recent Issued Accounting Pronouncements In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. This guidance also requires certain disclosures for equity securities subject to contractual sale restrictions. The new guidance is required to be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. This guidance is effective for the Group for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted. The Group does not expect that the adoption of this guidance will have a material impact on its financial position, results of operations and cash flows. In November 2023, the FASB issued ASU 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures ( “ ASU 2023-07 ” ), which focuses on improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. A public entity shall disclose for each reportable segment the significant expense categories and amounts that are regularly provided to the CODM and included in reported segment profit or loss. ASU 2023-07 also requires public entities to provide in interim periods all disclosures about a reportable segment ’ s profit or loss and assets that are currently required annually. Entities are permitted to disclose more than one measure of a segment ’ s profit or loss if such measures are used by the CODM to allocate resources and assess performance, as long as at least one of those measures is determined in a way that is most consistent with the measurement principles used to measure the corresponding amounts in the consolidated financial statements. ASU 2023-07 is applied retrospectively to all periods presented in financial statements, unless it is impracticable. This update will be effective for the Group ’ s fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Group is currently in the process of evaluating the disclosure impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topics 740): Improvements to Income Tax Disclosures” to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. The ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Group is currently evaluating the potential effect that the updated standard will have on our financial statement disclosures.

Organization and Principal Ac_2

Organization and Principal Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Pricipal Subsidiaries and Consolidated Affiliated Entities	As of December 31, 2023, the Company’s principal subsidiaries and consolidated Affiliated Entities are as follows: Schedule of Pricipal Subsidiaries and Consolidated Affiliated Entities Name of subsidiaries and VIEs Date of direct or indirect establishment/acquisition Place of incorporation Percentage of direct or economic ownership Wholly owned subsidiaries of the Company: InfoUniversal Limited(“InfoUniversal”) August, 2017 Hong Kong 100 Shanghai Quyun Internet Technology Co., Ltd. (“Quyun WFOE”) October, 2017 PRC 100 Shanghai Dianguan Network Technology Co., Ltd. (“Dianguan”) February, 2018 PRC 100 Qtech USA Inc. (“Qtech”) April, 2018 USA 100 QTT Asia Ltd.(“QTT Asia”) April, 2018 British 100 Kubik Media International Ltd. (“Kubik Media”) May, 2018 BVI 100 Kubik Technology Pte., Ltd. (“Kubik Technology”) May, 2018 Singapore 100 Fun Literature Limited (Cayman) (“Fun Literature”) October, 2018 Cayman Islands 65 Fun Literature (HK) Limited (“Fun Literature HK”) October, 2018 Hong Kong 100 PT. Sedjahtera Inti Abadi (“Abadi”) October, 2018 Indonesia 100 Shanghai Zhicao Information Technology Co., Ltd. (“Zhicao WFOE”) December, 2018 PRC 100% AI-Fun Technology Limited (“AI-Fun”) January, 2019 Hong Kong 100 Fun-Platform Holdings Limited (“Fun-Platform”) January, 2019 Cayman 100 Striking Technology Holdings limited (“Striking”) January, 2019 Hong Kong 100 Shanghai Chenxing Software Technology Co., Ltd. (“Chenxing”) January, 2020 PRC 100 Shanghai Luoshi Software Technology Co., Ltd. (“Luoshi”) January, 2020 PRC 100 Shanghai Wennuo Information Technology Co., Ltd. (“Wennuo”) July, 2020 PRC 100 Shanghai Shuqin Information Technology Co., Ltd. (“Shuqin”) November, 2020 PRC 100 Fun Literature SG Pte. Ltd. (“Fun SG”) February, 2021 Singapore 100 Shanghai Chengshan Information Technology Co., Ltd. (“Chengshan”) March, 2021 PRC 100 Hainan Mengbang Network Technology Co., Ltd. (“Mengbang”) June, 2021 PRC 100 Variable Interest Entity (“VIEs”) Shanghai Jifen Culture Communications Co., Ltd. (“Jifen or Jifen VIE”) January, 2012 PRC 100 Beijing Churun Internet Technology Co., Ltd. (“Churun”) November, 2018 PRC 100 Shanghai DragonS Information Technology, Co., Ltd (“ DragonS Information”) January, 2019 PRC 100 Hubei Rapid Information Technology Co., Ltd. (“Rapid Information”) March, 2019 PRC 100 Shanghai Ququanquan Information Technology Co., Ltd. (“Ququanquan”) October, 2019 PRC 100 Huaian Beixia Information Technology Co., Ltd. (“Beixia”) November, 2020 PRC 100 Shanghai Miaoliang Information Technology Co., Ltd. (“Miaoliang”) November, 2020 PRC 100 Shanghai Zishu Information Technology Co., Ltd. (“Zishu”) November, 2020 PRC 100 Shanghai Yuanying Information Technology Co., Ltd. (“Yuanying”) April, 2021 PRC 100 Hainan Jinxuan Information Technology Co., Ltd. (“Jinxuan”) June, 2021 PRC 100 Bixing Network Technology (Shaoxing) Co., Ltd February, 2023 PRC 100 Name of subsidiaries and VIEs Date of establishment/ acquisition Place of incorporation Percentage of direct or indirect economic ownership Subsidiaries of Variable Interest Entity (“VIE subsidiaries”) Shanghai Xike Information Technology Service Co., Ltd. (“Xike”) July, 2016 PRC 100% Shanghai Tuile Information Technology Service Co., Ltd. (“Tuile”) July, 2016 PRC 100 Anhui Zhangduan Internet Technology Co., Ltd. (“Zhangduan”) March, 2017 PRC 100 Beijing Qukandian Internet Technology Co., Ltd. (“Qukandian”) April, 2017 PRC 100 Tianjin Quwen Internet Technology Co., Ltd. (“Quwen”) August, 2018 PRC 100 Shanghai Big Rhinoceros Horn Information Technology, Co., Ltd (“Big Rhinoceros Horn”) November, 2018 PRC 100 Shanghai Heitu Internet Technology Co., Ltd. (“Heitu”) January, 2019 PRC 100 Shanghai Zheyun Internet Technology Co., Ltd. (“Zheyun”) January, 2019 PRC 100 Beijing Supreme Pole International Sports Development Co., Ltd. (“Supreme Pole International Sports”) January, 2019 PRC 100 Hubei Qingluo Information Technology Co., Ltd. (“Qingluo”) March, 2019 PRC 100% Hubei Qingluo Information Technology Co., Ltd. Shanghai Branch (“Qingluo”) March, 2020 PRC 100 Shanghai Tuohuan Information Technology Co., Ltd. (“Tuohuan”) September, 2019 PRC 100 Shanghai Xunkai Information Technology Co., Ltd. (“Xunkai”) October, 2019 PRC 100 Shanghai Xixia Information Technology Co., Ltd. (“Xixia”) October, 2019 PRC 100 Hubei Rapid Information Technology Co., Ltd. Shanghai Branch (“Jietu”) January, 2020 PRC 100 Shanghai Manchuan Information Technology Co., Ltd. (“Manchuan”) March, 2020 PRC 100 Shanghai Yunxi Information Technology Co., Ltd. (“Yunxi”) April, 2020 PRC 100 Shanghai Mili Information Technology Co., Ltd. (“Mili”) March, 2020 PRC 100 Shanghai Guanji Information Technology Co., Ltd. (“Guanji”) February, 2021 PRC 100 Shanghai Yimao Information Technology Co., Ltd. (“Yimao”) February, 2021 PRC 100 Shanghai Xier Information Technology Co., Ltd. (“Xier”) April, 2021 PRC 100 Shanghai Yixun Information Technology Co., Ltd. (“Yixun”) June, 2021 PRC 100

Principal Accounting Policies_2

Principal Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Assets, Liabilities, Result of Operations and Cash Flows of VIEs and its Subsidiaries	The following table sets forth the assets, liabilities, results of operations and cash flows of VIEs and its subsidiaries, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and its subsidiaries are eliminated in the balances presented below: Schedule of Assets, Liabilities, Result of Operations and Cash Flows of VIEs and its Subsidiaries December 31, 2022 December 31, 2023 As of December 31, 2022 December 31, 2023 Assets Current assets Cash and cash equivalents 32,147 23,590 Restricted cash 7,384 17,008 Short-term investments 6,402 - Accounts receivable, net 110,523 73,143 Amount due from subsidiaries of the Company 470,966 320,387 Amount due from related parties 48,284 45,182 Prepayments and other current assets 95,568 91,422 Total current assets 771,274 570,732 Non-current assets Property and equipment, net 5,002 493 Right-of-use assets 21,879 5,633 Intangible assets 6,574 3,883 Other non-current assets 1,426 666 Total non-current assets 34,881 10,675 Total assets 806,155 581,407 Liabilities Current liabilities Accounts payable 330,550 349,993 Amount due to subsidiaries of the Company 5,644,725 5,560,180 Amount due to related parties - 81 Registered users’ loyalty payable 29,773 13,863 Advance from customers and deferred revenue 11,963 12,351 Salary and welfare payable 28,048 15,784 Tax payable 29,584 36,588 Lease liabilities, current 15,083 2,407 Accrued liabilities related to users’ loyalty programs 64,589 33,489 Accrued liabilities and other current liabilities 301,713 220,104 Total current liabilities 6,456,028 6,244,840 Lease liabilities, non-current 7,599 3,366 Total liabilities 6,463,627 6,248,206 2021 2022 2023 Year ended December 31, 2021 2022 2023 Revenues: Third-party revenues 4,336,388 828,341 673,730 Intra-Group revenues 188,298 579,967 637,646 Total revenues 4,524,686 1,408,308 1,311,376 Cost of revenues: Third-party cost of revenues (867,701 ) (446,189 ) (365,857 ) Intra-Group cost of revenues (18,959 ) (376,184 ) (571,434 ) Total cost of revenues (886,660 ) (822,373 ) (937,291 ) Gross profit 3,638,026 585,935 374,085 Operating expenses: Third-party operating expenses (4,067,548 ) (572,365 ) (248,310 ) Intra-Group operating expenses (951,702 ) (384,197 ) (140,418 ) Total operating expenses (5,019,250 ) (956,562 ) (388,728 ) Other operating income 18,659 9,153 4,237 Loss from Operations (1,362,565 ) (361,474 ) (10,406 ) Non-operating income/(expense) 22,282 (9,311 ) 859 Loss before income tax expense (1,340,283 ) (370,785 ) (9,547 ) Income tax benefit /(expense) (131 ) (54 ) 412 Equity in loss of an affiliate company (3,195 ) (1,416 ) - Net loss (1,343,609 ) (372,255 ) (9,135 ) 2021 2022 2023 Year ended December 31, 2021 2022 2023 Net cash used in operating activities (190,975 ) (22,037 ) (58,155 ) Net cash provided by investing activities 63,047 28,625 59,222 Net cash provided by financing activities 84,471 — — Net (decrease)/ increase in cash and cash equivalents (43,457 ) 6,588 1,067 Cash and cash equivalents at the beginning of year 76,400 32,943 39,531 Cash and cash equivalents, restricted cash at the end of year 32,943 39,531 40,598
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2022 level 1 level 2 level 3 Balance at fair value Assets Short-term investments—Wealth management products — 26,402 — 26,402 As of December 31, 2023 level 1 level 2 level 3 Balance at fair value Assets Short-term investments—Wealth management products — — — —
Schedule of Estimated Useful Lives	Schedule of Estimated Useful Lives Leasehold improvements Over the shorter of lease term or estimated useful lives of the assets Office equipment 3 5
Schedule of Disaggregation of Revenue	In the following table, revenue is disaggregated by major service line and gross vs net recognition. Schedule of Disaggregation of Revenue Major service line Year ended December 31, 2021 2022 2023 RMB RMB RMB US$(Note 2(e)) Major service line Advertising service provided to advertising customers, recorded gross 2,533,327 404,443 420,275 59,196 Advertising service provided to advertising platforms, recorded net 1,557,056 434,934 149,294 21,027 Other service Agent and platform services 22,004 4,355 16,548 2,331 Live streaming and online games 140,269 195,213 155,659 21,924 Other revenues 86,947 44,100 3,781 533 Total Other services 249,220 243,668 175,988 24,788 Net Revenues 4,339,603 1,083,045 745,557 105,011

Risks and Concentration (Tables

Risks and Concentration (Tables)	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
Schedule of Concentration Risk	The following table summarized customers with greater than 10% of the accounts receivables, including accounts receivable from related parties: Schedule of Concentration Risk As of December 31, 2022 2023 Customer A — advertising and marketing customer 29 % 31 % Customer B — advertising and marketing customer 14 % 13 %

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The following table sets forth a breakdown of cash and cash equivalents by currency denomination and jurisdiction as of December 31, 2022 and 2023: Schedule of Cash and Cash Equivalents RMB thousands RMB thousands equivalent (US$) RMB thousands equivalent (HKD/SGD/IDR) Total in Overseas China Overseas China Overseas China RMB thousands Non-VIE VIE Non-VIE VIE Non-VIE VIE December 31, 2022 30,080 4,730 32,147 55,389 — — 455 — — 122,801 December 31, 2023 32,470 1,043 23,490 17,486 — — 159 74,648

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Summary of Short-Term Investments	As of December 31, 2022 and 2023, the Company’s short-term investments are comprised of the following: Summary of Short-Term Investments 2022 2023 As of December 31, 2022 2023 Wealth management products 26,402 - Total short-term investments 26,402 -

Accounts receivable, net (Table

Accounts receivable, net (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Accounts Receivable, Net	Schedule of Accounts Receivable, Net 2022 2023 As of December 31, 2022 2023 Accounts receivable, gross – current 452,783 389,355 Less: allowance for credit losses (335,374 ) (315,785 ) Accounts receivable, net 117,409 73,570
Schedule of Allowance for Credit Losses	Movement of allowance for credit losses was as follows: Schedule of Allowance for Credit Losses 2021 2022 2023 Year ended December 31, 2021 2022 2023 At beginning of the period (86,698 ) (335,841 ) (335,374 ) (Additional)/Reversal of provisions (249,143 ) 467 19,589 At the end of the period (335,841 ) (335,374 ) (315,785 )

Prepayments and other assets (T

Prepayments and other assets (Tables)	12 Months Ended
	Dec. 31, 2023
Prepayments And Other Assets
Schedule of Other Assets	Prepayment and other current assets consist of the following: Schedule of Other Assets 2022 2023 As of December 31, 2022 2023 Value-added tax receivable 102,453 102,528 Deposits 11,465 9,402 Loans and advance to employees 11,583 8,892 Prepayment for the third parties 16,898 6,225 Cooperation service fee – current portion 1,674 1,240 Lease deposits-current portion 876 2,048 Others 13,862 7,598 Total 158,811 137,933 Other non-current assets: Long-term cooperation service fee 1,476 - Long-term lease deposits 1,426 666 Total 2,902 666

Property and equipment, net (Ta

Property and equipment, net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following: Schedule of Property and Equipment 2022 2023 As of December 31, 2022 2023 Cost: Office equipment 11,843 8,626 Leasehold improvements (1) 4,211 - Total cost 16,054 8,626 Less: Accumulated depreciation (11,041 ) (8,122 ) Property and equipment, net 5,013 504 (1) Leasehold improvements of RMB 4.2
Summary of Depreciation Expense	Depreciation expense recognized for the years ended December 31, 2021, 2022 and 2023 are summarized as follows: Summary of Depreciation Expense 2021 2022 2023 Year ended December 31, 2021 2022 2023 Cost of revenues 3,024 534 358 Research and development expenses 6150 1202 525 Sales and marketing expenses 622 249 415 General and administrative expenses 1,312 339 3,047 Total 11,108 2,324 4,345 Depreciation expense 11,108 2,324 4,345

Intangible assets, net (Tables)

Intangible assets, net (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: Schedule of Intangible Assets 2022 2023 As of December 31, 2022 2023 Cost: Acquired user data 127,133 127,133 Acquired right to operate an online audio/video platform including content deferred tax liabilities impact 96,130 96,130 Computer software 12,290 12,290 Developed technology 9,000 9,000 Total cost 244,553 244,553 Less: Accumulated amortization (181,904 ) (194,209 ) Intangible assets, net 62,649 50,344
Summary of Amortization Expense	Amortization expense for intangible assets for the years ended December 31, 2021, 2022 and 2023 is as follows: Summary of Amortization Expense 2021 2022 2023 Year ended December 31, 2021 2022 2023 Cost of revenues 9,613 9,613 9,613 Research and development expenses 825 900 1,800 Sales and marketing expenses 38,846 88,287 - General and administrative expenses 4,815 3,821 892 Total 54,099 102,621 12,305 Total amortization expense 54,099 102,621 12,305
Summary of Future Intangible Asset Amortization	Future intangible asset amortization as of December 31, 2023 is as follows: Summary of Future Intangible Asset Amortization Year ended December 31, Amortization Expense 2024 11,437 2025 11,437 2026 9,787 2027 9,637 2028 8,036 Thereafter 10 Total 50,344

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases
Schedule of Components of Lease Expenses	Schedule of Components of Lease Expenses ● The components of lease expenses were as follows: 2022 2023 Year ended December 31, 2022 2023 Lease cost: Amortization of right-of-use assets 12,996 6,164 Interest of lease liabilities 1,232 532 Total lease cost 14,228 6,696
Schedule of Supplemental Balance Sheet Information Related to Leases	Schedule of Supplemental Balance Sheet Information Related to Leases ● Supplemental cash flow information related to leases was as follows: 2022 2023 Year ended December 31, 2022 2023 Operating leases Operating lease right-of-use assets 21,879 5,633 Operating lease liabilities, current (15,083 ) (2,407 ) Operating lease liabilities, non-current (7,599 ) (3,366 ) Total operating lease liabilities (22,682 ) (5,773 )
Schedule of Supplemental Cash Flow Information Related to Leases	Schedule of Supplemental Cash Flow Information Related to Leases ● Supplemental balance sheet information related to leases was as follows: 2022 2023 Year ended December 31, 2022 2023 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating lease payments 13,327 6,689 Right-of-use assets obtained in exchange for lease obligations: 12,315 6,983 2022 2023 As of December 31, 2022 2023 Weighted-average remaining lease term Operating leases 1.5 2.2 Weighted-average discount rate Operating leases 5.7 % 5.7 %
Summary of Maturities of Lease Liabilities	Summary of Maturities of Lease Liabilities ● Maturities of lease liabilities were as follows: As of December 31, 2023 2024 2,341 2025 2,918 2026 858 Total undiscounted lease payments 6,117 Less: imputed interest (344 ) Total lease liabilities 5,773
Schedule of Future Minimum Payments Under Non-cancellable Operating Leases for Office Rental	Schedule of Future Minimum Payments Under Non-cancellable Operating Leases for Office Rental ● Future minimum lease payments for the Group’s operating leases were as follows: As of December 31, 2023 2024 2,341 2025 2,918 2026 858

Tax payable (Tables)

Tax payable (Tables)	12 Months Ended
	Dec. 31, 2023
Tax Payable
Schedule of Tax Payable	Schedule of Tax Payable 2022 2023 As of December 31, 2022 2023 Value added tax 29,014 33,078 Corporate income tax 8,595 4,490 Individual income tax withholding 2,406 2,455 Urban maintenance and construction tax 79 77 Stamp duty 380 348 Total 40,474 40,448

Accrued liabilities and other_2

Accrued liabilities and other liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities and Other Liabilities	Schedule of Accrued Liabilities and Other Liabilities 2022 2023 As of December 31, 2022 2023 Accrued liabilities and other current liabilities Accrued advertising and marketing expense 172,497 100,868 Tax surcharges and other fees 133,471 133,502 Accrued professional service fees 6,368 1,854 Refund from depositary bank (1) 1,910 - Others 22,016 7,619 Total 336,262 243,843 (1) The Company received non-refundable incentive payment of US$ 1.8 12.5 5 2022 2.5 RMB 2.5 1.9

Share-based compensation Shar_2

Share-based compensation Share option plan (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Share Option Activity	The following table summarizes the share option activity for the years ended December 31, 2021, 2022 and 2023: Summary of Share Option Activity Number of options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Weighted Average Grant Date Fair Value RMB In Years RMB ‘000 RMB Outstanding at January 1, 2021 9,430,150 0.0007 7.2 391,330 78.35 Granted 1,041,585 0.0007 46.77 Exercised (3,049,281 ) 0.0007 Forfeited (1,035,306 ) 0.0007 Cancelled (6,060 ) 0.0007 Outstanding at December 31, 2021 6,381,088 0.0007 6.5 45,236 47.97 Granted 170,953 0.0007 Exercised (355,745 ) 0.0007 Forfeited (154,835 ) 0.0007 Cancelled - 0.0007 Outstanding at December 31, 2022 6,041,461 0.0007 5.1 11,609 48.39 Granted 0.0007 - Exercised 0.0007 Forfeited 0.0007 Cancelled 0.0007 Outstanding at December 31, 2023 6,041,461 0.0007 4.1 339 49.21 Vested and expected to vest at December 31, 2023 6,110,965 0.0007 4.1 343 50.15 Exercisable at December 31, 2023 6,033,599 0.0007 4.0 338 49.96
Fair Values of Share Options Granted	Fair Values of Share Options Granted Options Granted in the year ended December 31, 2021 Options Granted in the year ended December 31, 2022 Options Granted in the year ended December 31, 2023 Expected volatility 60.31% 61.94 % 50.43% 52.00 % - Risk-free interest rate 1.66% 1.96 % 2.47% 4.10 % - Exercise multiple 2.8 2.8 - Expected dividend yield 0 % 0 % - Contractual term 10 10 - Expected forfeiture rate (post-vesting) 0 20 % 0 20 % - Fair value of the common share on the date of option grant (RMB) 7.09 60.19 1.45 3.83 -

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate	A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows: Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate 2021 2022 2023 Year ended December 31, 2021 2022 2023 PRC Statutory income tax rates 25.0 % 25.0 % 25.0 % Change in valuation allowance (16.9 )% (17.2 )% (28.9 )% Permanent book — tax difference (6.1 )% 4.1 % 29.0 % Difference in EIT rates of certain subsidiaries (2.5 )% (12.0 )% (26.2 )% Total (0.5 )% (0.1 )% (1.1 )%
Schedule of Loss Before Income Tax Expenses (Benefit) for Domestic and Foreign	The loss before income tax expenses (benefit) for domestic and foreign components’ are as follows: Schedule of Loss Before Income Tax Expenses (Benefit) for Domestic and Foreign 2021 2022 2023 Year ended December 31, 2021 2022 2023 Domestic 870,174 316,425 (49,736 ) Foreign 363,757 597,974 237,075 Total 1,233,931 914,399 187,339
Schedule of Current and Deferred Portions of Income Tax Expense (Benefit)	The current and deferred portions of income tax expense (benefit) included in the consolidated statements of comprehensive loss are as follows: Schedule of Current and Deferred Portions of Income Tax Expense (Benefit) 2021 2022 2023 Year ended December 31, 2021 2022 2023 Current income tax expense 5,453 1,355 377 Deferred income tax benefit (2,403 ) (2,403 ) (2,403 ) Income tax expense (benefit) 3,050 (1,048 ) (2,026 )
Schedule of Significant Components of Deferred Tax Assets and Liabilities	The following table sets forth the significant components of the deferred tax assets and deferred tax liabilities: Schedule of Significant Components of Deferred Tax Assets and Liabilities December 31, 2022 December 31, 2023 As of December 31, 2022 December 31, 2023 Deductible temporary difference to accruals and others 522,575 518,990 Tax losses carried forward 978,345 913,576 Less: Valuation allowance (1,500,920 ) (1,432,566 ) Total of deferred tax assets - - Taxable temporary difference related to acquired right to operate an online audio/video content platform 14,019 11,616 Total of deferred tax liabilities 14,019 11,616
Schedule of Movement of Valuation Allowance	Movement of valuation allowance is as follows: Schedule of Movement of Valuation Allowance 2021 2022 2023 Year ended December 31, 2021 2022 2023 Beginning balance 1,056,253 1,309,962 1,500,920 Current year additions 434,837 287,018 59,096 Current year reversals (181,128 ) (96,060 ) (127,450 ) Ending balance 1,309,962 1,500,920 1,432,566

Redeemable non-controlling in_2

Redeemable non-controlling interests and non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Schedule of Redeemable Noncontrolling Interests Activities	The Company’s redeemable non-controlling interests activities for the years ended in December 31, 2021, 2022 and 2023 are summarized as follows: Schedule of Redeemable Noncontrolling Interests Activities Year ended December 31, 2021 2022 2023 Beginning balance 1,093,526 1,172,218 1,414,435 Foreign exchange impact (30,034 ) 117,540 24,719 Accretion to redemption value of redeemable non-controlling interests 108,726 124,677 143,976 Ending balance 1,172,218 1,414,435 1,583,130

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Transaction and Balance Amount Due to/from Related Parties	Schedule of Transaction and Balance Amount Due to/from Related Parties Year ended December 31, 2021 2022 2023 Services provided by the Group Advertising and marketing service provided to related parties (1) 40,263 2,451 17 Year ended December 31, 2021 2022 2023 Services received by the Group Advertisement costs charged from a related party (2) 103,275 14,564 345 Gaming cost sharing charged from a related party 11 — — Others advertising and promotional costs charged from a related party(4) 15,840 7,945 189 Balance amount with related parties As of December 31,2022 December 31,2023 Amount due from related parties (1) 48,802 45,787 Amount due to related parties (2) 592 154 (1) For the years ended December 31, 2021, 2022 and 2023, the service fee of RMB39.8 million, RMB2.5 million and nil million charged to related parties represents advertising and marketing services provided to companies under the common control of the founder, to help promote these companies’ online applications, which were developed in late 2018. As of December 31, 2022 and 2023, the amounts due from related parties that pertains to accounts receivable from related party revenues generated was RMB48.8 million and RMB45.8 million respectively. Although the balance as of December 31, 2023 is overdue, as these companies are under the common control of the founder and they have demonstrated an ability to continuously pay off their balances, the Company did not view this delay in payment as a sign of collectability risk. (1) For the years ended December 31, 2021, 2022 and 2023, the service fee of RMB 40.3 2.5 nil As of December 31, 2022 and 2023, the amounts due from related parties that pertains to accounts receivable from related party revenues generated was RMB 48.8 45.8 Although the balance as of December 31, 2023 is overdue, as these companies are under the common control of the founder and they have demonstrated an ability to continuously pay off their balances, the Company did not view this delay in payment as a sign of collectability risk. (2) In 2019 the Group entered into CPM (cost per impression) arrangements with media platforms under the common control of the founder for the Group’s customer’s advertisement placement. The total service fee charged from related parties amounted to RMB 103.3 14.6 0.3 (3) For the years ended December 31, 2021, 2022 and 2023, the service fee charged from related parties represented the expense charged from companies under common control of the founder which provided the Group advertising and marketing related promotion services.

Basic and diluted net loss pe_2

Basic and diluted net loss per share (Tables)	12 Months Ended
	Dec. 31, 2023
Net loss per share attributable to Qutoutiao Inc.’s ordinary shareholders
Schedule of Basic Loss Per Share And Diluted Loss Per Share	Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended December 31, 2021, 2022 and 2023 as follows: Schedule of Basic Loss Per Share And Diluted Loss Per Share 2021 2022 2023 Year ended December 31, 2021 2022 2023 Numerator: Net loss attributable to Qutoutiao Inc. (1,239,617 ) (914,767 ) (185,313 ) Accretion on redemption value of Series A convertible redeemable preferred shares of a subsidiary (Note 20) (14,089 ) (15,947 ) (18,370 ) Accretion on redemption value of Series B convertible redeemable preferred shares of a subsidiary (Note 20) (21,726 ) (24,918 ) (28,736 ) Accretion on redemption value of Series C convertible redeemable preferred shares of a subsidiary (Note 20) (73,081 ) (83,812 ) (96,870 ) Net loss attributable to ordinary shareholders -Basic and diluted (1,348,513 ) (1,039,444 ) (329,289 ) Accretion to redemption value (73,081 ) (83,812 ) (96,870 ) Denominator: Denominator for basic and diluted loss per share Weighted- average ordinary shares outstanding Basic and diluted 75,767,532 76,629,816 76,631,037 Basic and diluted loss per share (17.80 ) (13.56 ) (4.3 0 ) Denominator for basic and diluted loss per ADS Weighted- average ADS outstanding Denominator: Basic and diluted 30,307,013 30,651,926 30,652,414 Basic and diluted loss per ADS (44.50 ) (33.91 ) (10.74 )
Schedule of Potential Ordinary Shares Excluded from Computation of Diluted Net Loss per Ordinary Share	Schedule of Potential Ordinary Shares Excluded from Computation of Diluted Net Loss per Ordinary Share Year ended December 31, 2021 2022 2023 Share options — weighted average 546,035 219,083 219,083

ADDITIONAL INFORMATION_ CONDE_2

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Balance Sheets	Condensed Financial Information of the Parent Company BALANCE SHEET Balance Sheets RMB RMB US$ (Note 2(e)) As of December 31, 2022 2023 RMB RMB US$ (Note 2(e)) ASSETS Current assets: Cash and cash equivalents 50,989 43,409 6,115 Amount due from subsidiaries and VIEs of the Company 3,698,706 3,783,399 532,881 Prepayments and other current assets 2,935 9,436 1,328 Total current assets 3,752,630 3,836,244 540,324 Other non-current assets 1,476 - - Total non-current assets 1,476 - - Total assets 3,754,106 3,836,244 540,324 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT Current liabilities: Accrued expenses and other current liabilities 978 - - Amounts due to subsidiaries and VIEs of the Company 181,598 230,306 32,438 Total current liabilities 182,576 230,306 32,438 Non-current liabilities: Convertible loan 1,746,188 1,944,834 273,924 Investment deficit of subsidiaries and VIEs 5,416,081 5,598,492 788,531 Total non-current liabilities 7,162,269 7,543,326 1,062,455 Total liabilities 7,344,845 7,773,632 1,094,893 Shareholders’ deficit: Class A ordinary shares (US$ 0.0001 par value, 50,000,000 shares authorized as of December 31, 2022 and 2023; 42,812,245 shares issued as of December 31, 2022 and 2023; 38,726,637 and 38,726,637 shares outstanding as of December 31, 2022 and 2023) 26 26 4 Class B ordinary shares (US$ 0.0001 34,248,442 32,937,193 24 24 3 Common stock, value 24 24 3 Additional paid-in capital 5,049,458 5,086,766 716,456 Treasury stock (US$ 0.0001 4,085,608 4,085,608 (142,229 ) (142,229 ) (20,033 ) Accumulated other comprehensive loss (102,834 ) (157,502 ) (22,183 ) Accumulated deficit (8,395,184 ) (8,724,473 ) (1,228,816 ) Total shareholders’ deficit (3,590,739 ) (3,937,388 ) (554,569 ) Total liabilities and shareholders’ deficit 3,754,106 3,836,244 540,324
Statements of Comprehensive Loss	STATEMENTS OF COMPREHENSIVE LOSS Statements of Comprehensive Loss RMB RMB RMB US$ (Note 2(e)) Year ended December 31, 2021 2022 2023 RMB RMB RMB US$ (Note 2(e)) Operating expenses: General and administrative (208,594 ) (77,185 ) (47,078 ) (6,631 ) Total operating expenses (208,594 ) (77,185 ) (47,078 ) (6,631 ) Loss from operations (208,594 ) (77,185 ) (47,078 ) (6,631 ) Investment gains / (loss) (27,589 ) 585 1,408 198 Interest expense (30,683 ) (468,358 ) (185,794 ) (26,169 ) Foreign exchange related gains, net — (220 ) (14 ) (2 ) Other expenses, net (41 ) (42 ) (33 ) (5 ) Loss from subsidiaries and VIEs (972,710 ) (369,547 ) 46,198 6,508 Loss before provision for income taxes (1,239,617 ) (914,767 ) (185,313 ) (26,101 ) Net loss (1,239,617 ) (914,767 ) (185,313 ) (26,101 ) Accretion to redemption value of convertible redeemable preferred shares of a subsidiary (108,896 ) (124,677 ) (143,976 ) (20,278 ) Net loss attributable to ordinary shareholders (1,348,513 ) (1,039,444 ) (329,289 ) (46,379 ) Net loss (1,239,617 ) (914,767 ) (185,313 ) (26,101 ) Foreign currency translation adjustment, net of nil tax 44,690 (231,844 ) (54,668 ) (7,700 ) Comprehensive loss (1,194,927 ) (1,146,611 ) (239,981 ) (33,801 )
Statements of Cash Flows	STATEMENTS OF CASH FLOWS Statements of Cash Flows RMB RMB RMB US$ (Note 2(e)) Year ended December 31, 2021 2022 2023 RMB RMB RMB US$ (Note 2(e)) Cash flows used in operating activities (14,807 ) (39,578 ) (31,937 ) (4,498 ) Cash flows provided by investing activities 32,506 68,089 23,535 3,315 Effect of exchange rate changes on cash 1 2,845 822 116 Net increase/(decrease) in cash and cash equivalents 17,700 31,356 (7,580 ) (1,067 ) Cash and cash equivalents, beginning of year 1,933 19,633 50,989 7,182 Cash and cash equivalents, end of year 19,633 50,989 43,409 6,115

Schedule of Pricipal Subsidiari

Schedule of Pricipal Subsidiaries and Consolidated Affiliated Entities (Details)	12 Months Ended
	Dec. 31, 2023
InfoUniversal Limited("InfoUniversal") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2017-08
Place of incorporation	Hong Kong
Percentage of direct or indirect economic ownership	100%
Shanghai Quyun Internet Technology Co., Ltd. ("Quyun WFOE") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2017-10
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Dianguan Network Technology Co., Ltd. ("Dianguan") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-02
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Qtech USA Inc. ("Qtech") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-04
Place of incorporation	USA
Percentage of direct or indirect economic ownership	100%
QTT Asia [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-04
Place of incorporation	British
Percentage of direct or indirect economic ownership	100%
Kubik Media International Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-05
Place of incorporation	BVI
Percentage of direct or indirect economic ownership	100%
Kubik Technology Pte Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-05
Place of incorporation	Singapore
Percentage of direct or indirect economic ownership	100%
Literature Limited (Cayman) ("Fun Literature") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-10
Place of incorporation	Cayman Islands
Percentage of direct or indirect economic ownership	65%
Fun Literature (HK) Limited ("Fun Literature HK") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-10
Place of incorporation	Hong Kong
Percentage of direct or indirect economic ownership	100%
PT Sedjahtera Inti Abadi [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-10
Place of incorporation	Indonesia
Percentage of direct or indirect economic ownership	100%
Shanghai Zhicao Information Technology Co Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-12
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
AI-Fun Technology Limited ("AI-Fun") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	Hong Kong
Percentage of direct or indirect economic ownership	100%
Fun-Platform Holdings Limited ("Fun-Platform") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	Cayman
Percentage of direct or indirect economic ownership	100%
Striking Technology Holdings limited ("Striking") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	Hong Kong
Percentage of direct or indirect economic ownership	100%
Shanghai Chenxing Software Technology Co., Ltd. ("Chenxing") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Luoshi Software Technology Co Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Wennuo Information Technology Co., Ltd. ("Wennuo") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-07
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Shuqin Information Technology Co Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-11
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Fun Literature SG Pte. Ltd. ("Fun SG") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-02
Place of incorporation	Singapore
Percentage of direct or indirect economic ownership	100%
Shanghai Chengshan Information Technology Co., Ltd. ("Chengshan") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Hainan Mengbang Network Technology Co., Ltd. ("Mengbang") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-06
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Jifen Culture Communications Co., Ltd. ("Jifen or Jifen VIE") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2012-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Beijing Churun Internet Technology Co., Ltd. ("Churun") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-11
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai DragonS Information Technology, Co., Ltd (" DragonS Information") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Hubei Rapid Information Technology Co., Ltd. ("Rapid Information") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Ququanquan Information Technology Co., Ltd. ("Ququanquan") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-10
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Huaian Beixia Information Technology Co., Ltd. ("Beixia") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-11
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Miaoliang Information Technology Co., Ltd. ("Miaoliang") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-11
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Zishu Information Technology Co., Ltd. ("Zishu") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-11
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Yuanying Information Technology Co Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-04
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Hainan Jinxuan Information Technology Co Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-06
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Bixing Network Technology (Shaoxing) Co., Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2023-02
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Xike Information Technology Service Co., Ltd. ("Xike") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2016-07
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Tuile Information Technology Service Co., Ltd. ("Tuile") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2016-07
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Anhui Zhangduan Internet Technology Co., Ltd. ("Zhangduan") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2017-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Beijing Qukandian Internet Technology Co., Ltd. ("Qukandian") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2017-04
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Tianjin Quwen Internet Technology Co., Ltd. ("Quwen") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-08
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Big Rhinoceros Horn Information Technology, Co., Ltd ("Big Rhinoceros Horn") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2018-11
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Heitu Internet Technology Co., Ltd. ("Heitu") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Zheyun Internet Technology Co., Ltd. ("Zheyun") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Beijing Supreme Pole International Sports Development Co., Ltd. ("Supreme Pole International Sports") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Hubei Qingluo Information Technology Co., Ltd. ("Qingluo") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Hubei Qingluo Information Technology Co., Ltd. Shanghai Branch ("Qingluo") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Tuohuan Information Technology Co., Ltd. ("Tuohuan") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-09
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Xunkai Information Technology Co., Ltd. ("Xunkai") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-10
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Xixia Information Technology Co., Ltd. ("Xixia") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2019-10
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Hubei Rapid Information Technology Co., Ltd. Shanghai Branch ("Jietu") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-01
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Manchuan Information Technology Co., Ltd. ("Manchuan") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Yunxi Information Technology Co., Ltd. ("Yunxi") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-04
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Mili Information Technology Co., Ltd. ("Mili") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2020-03
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Guanji Information Technology Co., Ltd. ("Guanji") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-02
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Yimao Information Technology Co., Ltd. ("Yimao") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-02
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Xier Information Technology Co., Ltd. ("Xier") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-04
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%
Shanghai Yixun Information Technology Co., Ltd. ("Yixun") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Date of establishment / acquisition	2021-06
Place of incorporation	PRC
Percentage of direct or indirect economic ownership	100%

Organization and Principal Ac_3

Organization and Principal Activities (Details Narrative)		12 Months Ended
	Oct. 13, 2017	Dec. 31, 2023	Sep. 30, 2019
The Paper [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity interests percentage			1%
InfoUniversal Limited("InfoUniversal") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		100%
InfoUniversal Limited("InfoUniversal") [Member] | Shanghai Quyun Internet Technology Co., Ltd. ("Quyun WFOE") [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage	100%
Exclusive Technology Support and Consulting Services Agreement between Jifen VIE's and Quyun WFOE [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Agreement expiration term	10 years
Agreement notice period	30 days
:Exclusive Option Agreement Among Jifen VIE, Quyun WFOE and Each of Jifen VIE Shareholders [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Agreement expiration term	10 years
Agreement notice period	30 days
Voting Rights Proxy Agreement Among Jifen VIEQuyun WFOE And Each Of Jifen VIE Shareholders [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Agreement expiration term	10 years
Agreement notice period	30 days
Agreement automatic renewal term	1 year
Loan Agreement between Quyun WFOE and Jifen VIE [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Maturity period of loan		10 years

Schedule of Assets, Liabilities

Schedule of Assets, Liabilities, Result of Operations and Cash Flows of VIEs and its Subsidiaries (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 CNY (¥)
Current assets
Cash and cash equivalents	$ 10,514		¥ 122,801	¥ 240,351	¥ 74,648
Restricted cash	2,403		7,600		17,100
Short-term investments			26,402
Accounts receivable, net	10,362		117,409		73,570
Amount due from related parties			13,862		7,598
Prepayments and other current assets	19,427		158,811		137,933
Total current assets	49,155		481,825		348,996
Non-current assets
Property and equipment, net	71		5,013		504
Right-of-use assets	793		21,879		5,633
Intangible assets	7,091		62,649		50,344
Other non-current assets	94		2,902		666
Total non-current assets	9,073		99,711		64,415
Total assets	58,228		581,536		413,411
Current liabilities
Registered users’ loyalty payable	1,953		29,773		13,863
Advance from customers and deferred revenue	7,973		48,706		56,610
Salary and welfare payable	5,277		59,561		37,466
Tax payable	5,697		40,474		40,448
Lease liabilities, current	339		15,083		2,407
Accrued liabilities related to users’ loyalty programs	4,717		64,589		33,500
Accrued liabilities and other current liabilities	34,344		336,262		243,843
Total current liabilities	113,784		990,034		807,853
Lease liabilities, non-current	474		7,599		3,366
Total liabilities	389,818		2,757,840		2,767,669
Revenues:
Total revenues	105,011	¥ 745,557	1,083,045	4,339,603
Cost of revenues:
Total cost of revenues	(58,532)	(415,568)	(548,043)	(1,068,340)
Gross profit	46,430	329,644	520,438	3,167,977
Operating expenses:
Total operating expenses	49,459	351,145	900,765	4,467,298
Loss from Operations	(267)	(1,894)	(318,498)	(1,193,223)
Non-operating income/(expense)	(333)	(2,367)	(81,879)	27,637
Loss before income tax expense	(26,386)	(187,339)	(914,399)	(1,233,931)
Income tax benefit /(expense)	(285)	(2,026)	(1,048)	3,050
Equity in loss of an affiliate company			(1,416)	(3,195)
Net loss	(26,101)	(185,300)	(914,767)	(1,240,176)
Net cash used in operating activities	(9,253)	(65,700)	(443,797)	(279,122)
Net cash provided by investing activities	3,730	26,483	267,555	75,521
Net cash provided by financing activities			(20,000)	(66,094)
Cash, cash equivalents and restricted cash at the beginning of year	18,367	130,401	315,833	594,791
Cash, cash equivalents and restricted cash at the end of year	$ 12,917	91,706	130,401	315,833
Affiliated Entity [Member]
Current assets
Cash and cash equivalents			32,147		23,590
Restricted cash			7,384		17,008
Short-term investments			6,402
Accounts receivable, net			110,523		73,143
Amount due from subsidiaries of the Company			470,966		320,387
Amount due from related parties			48,284		45,182
Prepayments and other current assets			95,568		91,422
Total current assets			771,274		570,732
Non-current assets
Property and equipment, net			5,002		493
Right-of-use assets			21,879		5,633
Intangible assets			6,574		3,883
Other non-current assets			1,426		666
Total non-current assets			34,881		10,675
Total assets			806,155		581,407
Current liabilities
Accounts payable			330,550		349,993
Amount due to subsidiaries of the Company			5,644,725		5,560,180
Amount due to related parties					81
Registered users’ loyalty payable			29,773		13,863
Advance from customers and deferred revenue			11,963		12,351
Salary and welfare payable			28,048		15,784
Tax payable			29,584		36,588
Lease liabilities, current			15,083		2,407
Accrued liabilities related to users’ loyalty programs			64,589		33,489
Accrued liabilities and other current liabilities			301,713		220,104
Total current liabilities			6,456,028		6,244,840
Lease liabilities, non-current			7,599		3,366
Total liabilities			6,463,627		¥ 6,248,206
Revenues:
Total revenues		1,311,376	1,408,308	4,524,686
Cost of revenues:
Total cost of revenues		(937,291)	(822,373)	(886,660)
Gross profit		374,085	585,935	3,638,026
Operating expenses:
Total operating expenses		(388,728)	(956,562)	(5,019,250)
Other operating income		4,237	9,153	18,659
Loss from Operations		(10,406)	(361,474)	(1,362,565)
Non-operating income/(expense)		859	(9,311)	22,282
Loss before income tax expense		(9,547)	(370,785)	(1,340,283)
Income tax benefit /(expense)		412	(54)	(131)
Equity in loss of an affiliate company			(1,416)	(3,195)
Net loss		(9,135)	(372,255)	(1,343,609)
Net cash used in operating activities		(58,155)	(22,037)	(190,975)
Net cash provided by investing activities		59,222	28,625	63,047
Net cash provided by financing activities				84,471
Net (decrease)/ increase in cash and cash equivalents		1,067	6,588	(43,457)
Cash, cash equivalents and restricted cash at the beginning of year		39,531	32,943	76,400
Cash, cash equivalents and restricted cash at the end of year		40,598	39,531	32,943
Affiliated Entity [Member] | Third Party Revenues [Member]
Revenues:
Total revenues		673,730	828,341	4,336,388
Cost of revenues:
Total cost of revenues		(365,857)	(446,189)	(867,701)
Operating expenses:
Total operating expenses		(248,310)	(572,365)	(4,067,548)
Affiliated Entity [Member] | Intragroup Revenues [Member]
Revenues:
Total revenues		637,646	579,967	188,298
Cost of revenues:
Total cost of revenues		(571,434)	(376,184)	(18,959)
Operating expenses:
Total operating expenses		¥ (140,418)	¥ (384,197)	¥ (951,702)

Schedule of Assets and Liabilit

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Platform Operator, Crypto-Asset [Line Items]
Investment, Type [Extensible Enumeration]	Short-term investments	Short-term investments
Fair Value, Recurring [Member]
Platform Operator, Crypto-Asset [Line Items]
Short-term investments Wealth management products		¥ 26,402
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Platform Operator, Crypto-Asset [Line Items]
Short-term investments Wealth management products
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Platform Operator, Crypto-Asset [Line Items]
Short-term investments Wealth management products		26,402
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Platform Operator, Crypto-Asset [Line Items]
Short-term investments Wealth management products

Schedule of Estimated Useful Li

Schedule of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2023
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Estimated useful lives	Over the shorter of lease term or estimated useful lives of the assets
Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Estimated useful lives	3 years
Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Estimated useful lives	5 years

Schedule of Disaggregation of R

Schedule of Disaggregation of Revenue (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Product Information [Line Items]
Net Revenues	$ 105,011	¥ 745,557	¥ 1,083,045	¥ 4,339,603
Advertising And Marketing Service Provided To Advertising Customers [Member]
Product Information [Line Items]
Net Revenues	59,196	420,275	404,443	2,533,327
Advertising And Marketing Service Provided To Advertising Platforms [Member]
Product Information [Line Items]
Net Revenues	21,027	149,294	434,934	1,557,056
Agent And Platform Service Fees [Member]
Product Information [Line Items]
Net Revenues	2,331	16,548	4,355	22,004
Live Streaming And Online Games [Member]
Product Information [Line Items]
Net Revenues	21,924	155,659	195,213	140,269
Other Revenues [Member]
Product Information [Line Items]
Net Revenues	533	3,781	44,100	86,947
Service, Other [Member]
Product Information [Line Items]
Net Revenues	$ 24,788	¥ 175,988	¥ 243,668	¥ 249,220

Schedule of Disaggregation of_2

Schedule of Disaggregation of Revenue (Details) (Parenthetical) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Product Information [Line Items]
Net revenues	$ 105,011	¥ 745,557	¥ 1,083,045	¥ 4,339,603
Advertising Services [Member]
Product Information [Line Items]
Net revenues				¥ 39,800

Principal Accounting Policies_3

Principal Accounting Policies (Details Narrative) $ in Thousands		6 Months Ended	12 Months Ended
	Jul. 01, 2019	Jun. 30, 2019	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Apr. 30, 2025 USD ($)	Sep. 30, 2024 CNY (¥)	May 17, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 29, 2023	Apr. 04, 2022	Apr. 04, 2019
Property, Plant and Equipment [Line Items]
Net loss			$ 26,101	¥ 185,300,000	¥ 914,767,000	¥ 1,240,176,000
Net cash used in operating activities			9,253	65,700,000	443,797,000	279,122,000
Accumulated deficit			1,228,816		¥ 8,395,184,000					¥ 8,724,500,000
Working capital										458,900,000
Restricted cash and short term investment										¥ 91,700,000
Convertible debt | $			$ 171,100
Exchange rate					6.9646						7.0827
Convenience translation rate			7.0999							7.0999
Restriced cash			$ 2,403		¥ 7,600,000					¥ 17,100,000
Equity instruments fair value
Intangible assets, amortization period			10 years							10 years
Goodwill impairment				0	0	0
Change in goodwill				0	0
Impairment of long-lived assets to be disposed of				0	0	0
[custom:ApplicableTaxRateOnAdvertisingServicesRevenues]	1.50%	3%
Marketing and Advertising Expense				117,900,000	234,000,000	2,662,000,000
Costs related to users rewards granted				40,200,000	194,800,000	731,200,000
Rewards redeemed amount				89,600,000	250,900,000	673,800,000
Total estimated breakage amount					6,200,000	15,300,000				¥ 2,000,000
Registered users' loyalty payable					29,800,000					13,900,000
Accrued liabilities related to users' loyalty programs			$ 4,717		64,589,000					33,500,000
Interest and penalties associated with uncertain tax positions				0	0	0
Unrecognized uncertain tax positions					0	0				¥ 0
CHINA
Property, Plant and Equipment [Line Items]
Government grants received				100,000	4,500,000	7,200,000
Live Streaming And Online Games [Member]
Property, Plant and Equipment [Line Items]
Rewards consumed by purchasing virtual items				40,000	1,400,000	8,000,000
Selling and Marketing Expense [Member]
Property, Plant and Equipment [Line Items]
Accrued rewards reversed amount				¥ 48,400,000	¥ 63,900,000	¥ 81,400,000
Developed Technology Rights [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, amortization period			5 years							5 years
Database Rights [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, amortization period			3 years							3 years
Short-Term Investments [Member]
Property, Plant and Equipment [Line Items]
Allowance for credit losses										¥ 0
Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Convertible debt								¥ 500,000	¥ 500,000
Minimum [Member]
Property, Plant and Equipment [Line Items]
Percentage of after tax net income to be allocated to general reserve under PRC law			10%	10%
Minimum [Member] | Software Development [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, amortization period			3 years							3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, amortization period			10 years							10 years
Percentage of after tax net income to be allocated to general reserve under PRC law			50%	50%
Maximum [Member] | Software Development [Member]
Property, Plant and Equipment [Line Items]
Intangible assets, amortization period			10 years							10 years
Alibaba Investment Limited [Member] | Convertible Loan Agreement [Member]
Property, Plant and Equipment [Line Items]
Debt Instrument Percentage												3%	3%
Alibaba Investment Limited [Member] | Convertible Loan Agreement [Member] | Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Debt instrument total amount of principal and accumulated interest including incremental interest under supplemental agreement | $							$ 312,700
Alibaba Investment Limited [Member] | Minimum [Member] | Convertible Loan Agreement [Member]
Property, Plant and Equipment [Line Items]
Debt Instrument Percentage												3%
Alibaba Investment Limited [Member] | Maximum [Member] | Convertible Loan Agreement [Member]
Property, Plant and Equipment [Line Items]
Debt Instrument Percentage												9%
Convertible Debt [Member] | Alibaba Investment Limited [Member]
Property, Plant and Equipment [Line Items]
Convertible debt										¥ 1,940,000,000

Schedule of Concentration Risk

Schedule of Concentration Risk (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Customer A Advertising And Marketing [Member]
Concentration Risk [Line Items]
Concentration risk percent	31%	29%
Customer B Advertising And Marketing [Member]
Concentration Risk [Line Items]
Concentration risk percent	13%	14%

Risks and Concentration (Detail

Risks and Concentration (Details Narrative) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member]
Concentration Risk [Line Items]
Concentration risk percent	10%	11%	18%
Maximum [Member] | Unfavorable Regulatory Action [Member] | Internet Audio Visual Program Transmission License [Member]
Concentration Risk [Line Items]
Fine on lack of license payment	¥ 30,000

Schedule of Cash and Cash Equiv

Schedule of Cash and Cash Equivalents (Details) ¥ in Thousands, Rp in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 IDR (Rp)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 IDR (Rp)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Cash and cash equivalents	$ 10,514		¥ 74,648			¥ 122,801	¥ 240,351
Overseas [Member]
Cash and cash equivalents	$ 17,486	Rp 159		$ 55,389	Rp 455
Overseas [Member] | Rmb [Member]
Cash and cash equivalents			32,470			30,080
CHINA | Variable Interest Entity, Not Primary Beneficiary [Member]
Cash and cash equivalents			1,043			4,730
CHINA | Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents			¥ 23,490			¥ 32,147

Cash and cash equivalents (Deta

Cash and cash equivalents (Details Narrative) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Interest income, deposits with financial institutions	¥ 0.1	¥ 1.4	¥ 2.4

Summary of Short-Term Investmen

Summary of Short-Term Investments (Details) ¥ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Cash and Cash Equivalents [Line Items]
Total short-term investments			¥ 26,402
Wealth Management Products [Member]
Cash and Cash Equivalents [Line Items]
Total short-term investments			¥ 26,402

Investments (Details Narrative)

Investments (Details Narrative) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Mar. 31, 2020 CNY (¥)
Interest income	$ 17	¥ 118	¥ 1,370	¥ 3,174
Investment income, nonoperating		1,000	2,300	9,000
Related party transaction, investment				8,000	¥ 20,000
Unrealized gain (loss) on investments				¥ 15,300	16,700
Percentage of equity interest acquired by third party investor				60%
Gain on disposal of subsidiary				¥ 23,100
Income (Loss) from Equity Method Investments			(1,416)	(3,195)
Equity Method Investments [Member]
Income (Loss) from Equity Method Investments			1,400	¥ 3,200
Subsidiary [Member]
Equity method investment ownership percentage				40%
Limited Partner [Member]
Unrealized gain (loss) on investments			50,500	¥ 1,200
Equity method investments					¥ 27,600	¥ 106,000
Equity method investments, fair value disclosure
Bank Time Deposits [Member]
Interest income		¥ 1,700	¥ 1,300	¥ 3,100

Schedule of Accounts Receivable

Schedule of Accounts Receivable, Net (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable, gross – current	¥ 389,355	¥ 452,783
Less: allowance for credit losses	(315,785)	(335,374)
Accounts receivable, net	¥ 73,570	¥ 117,409

Schedule of Allowance for Credi

Schedule of Allowance for Credit Losses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
At beginning of the period	¥ (335,374)	¥ (335,841)	¥ (86,698)
(Additional)/Reversal of provisions	19,589	467	(249,143)
At the end of the period	¥ (315,785)	¥ (335,374)	¥ (335,841)

Schedule of Other Assets (Detai

Schedule of Other Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Prepayments And Other Assets
Value-added tax receivable		¥ 102,528	¥ 102,453
Deposits		9,402	11,465
Loans and advance to employees		8,892	11,583
Prepayment for the third parties		6,225	16,898
Cooperation service fee – current portion		1,240	1,674
Lease deposits-current portion		2,048	876
Others		7,598	13,862
Total	$ 19,427	137,933	158,811
Long-term cooperation service fee			1,476
Long-term lease deposits		666	1,426
Total		¥ 666	¥ 2,902

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) ¥ in Thousands, $ in Thousands		Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Property, Plant and Equipment [Line Items]
Total cost			¥ 8,626	¥ 16,054
Less: Accumulated depreciation			(8,122)	(11,041)
Property and equipment, net		$ 71	504	5,013
Leasehold improvements			4,200
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost			8,626	11,843
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total cost	[1]			¥ 4,211
[1]Leasehold improvements of RMB 4.2

Summary of Depreciation Expense

Summary of Depreciation Expense (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation expense	¥ 4,345	¥ 2,324	¥ 11,108
Cost of Sales [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation expense	358	534	3,024
Research and Development Expense [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation expense	525	1,202	6,150
Selling and Marketing Expense [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation expense	415	249	622
General and Administrative Expense [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation expense	¥ 3,047	¥ 339	¥ 1,312

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total cost	¥ 244,553	¥ 244,553
Less: Accumulated amortization	(194,209)	(181,904)
Intangible assets, net	50,344	62,649
Acquired User Data [Member]
Finite-Lived Intangible Assets [Line Items]
Total cost	127,133	127,133
Intangible assets, net		45,900
Online Audio Video Content Platform [Member]
Finite-Lived Intangible Assets [Line Items]
Total cost	96,130	96,130
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Total cost	12,290	12,290
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Total cost	¥ 9,000	¥ 9,000

Summary of Amortization Expense

Summary of Amortization Expense (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Goodwill [Line Items]
Total amortization expense	$ 1,733	¥ 12,305	¥ 102,621	¥ 54,099
Cost of Sales [Member]
Goodwill [Line Items]
Total amortization expense		9,613	9,613	9,613
Research And Development Expenses [Member]
Goodwill [Line Items]
Total amortization expense		1,800	900	825
Sales And Marketing Expenses [Member]
Goodwill [Line Items]
Total amortization expense			88,287	38,846
General and Administrative Expense [Member]
Goodwill [Line Items]
Total amortization expense		¥ 892	¥ 3,821	¥ 4,815

Summary of Future Intangible As

Summary of Future Intangible Asset Amortization (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	¥ 11,437
2025	11,437
2026	9,787
2027	9,637
2028	8,036
Thereafter	10
Intangible assets, net	¥ 50,344	¥ 62,649

Intangible assets, net (Details

Intangible assets, net (Details Narrative) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Deferred tax liability, intangible assets	$ 1,636		¥ 14,019		¥ 11,616
Intangible assets, amortization period	10 years				10 years
Acquired right to operate an online audio/video content platform with amount			244,553		¥ 244,553
Finite lived intangible assets acquired		¥ 136,100
Amortization of intangible assets	$ 1,733	12,305	102,621	¥ 54,099
Intangible assets, net			62,649		50,344
Online Audio Video Content Platform [Member]
Finite-Lived Intangible Assets [Line Items]
Total cash considerations		72,100
Deferred tax liability, intangible assets					¥ 24,000
Intangible assets, amortization period	10 years				10 years
Acquired right to operate an online audio/video content platform with amount			96,130		¥ 96,130
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortization period	5 years				5 years
Acquired right to operate an online audio/video content platform with amount			9,000		¥ 9,000
Amortization of intangible assets		9,000
Acquired User Data [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortization period	3 years				3 years
Acquired right to operate an online audio/video content platform with amount			127,133		¥ 127,133
Amortization of intangible assets		¥ 127,100
Intangible assets, net			¥ 45,900
Series of Individually Immaterial Business Acquisitions [Member] | Online Audio Video Content Platform [Member]
Finite-Lived Intangible Assets [Line Items]
Percentage of equity interest acquired	100%				100%

Schedule of Components of Lease

Schedule of Components of Lease Expenses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease cost:
Amortization of right-of-use assets	¥ 6,164	¥ 12,996
Interest of lease liabilities	532	1,232
Total lease cost	¥ 6,696	¥ 14,228

Schedule of Supplemental Balanc

Schedule of Supplemental Balance Sheet Information Related to Leases (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Operating leases
Operating lease right-of-use assets	$ 793	¥ 5,633	¥ 21,879
Operating lease liabilities, current	(339)	(2,407)	(15,083)
Operating lease liabilities, non-current	$ (474)	(3,366)	(7,599)
Total operating lease liabilities		¥ (5,773)	¥ (22,682)

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Leases (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating lease payments	¥ 6,689	¥ 13,327
Right-of-use assets obtained in exchange for lease obligations:	¥ 6,983	¥ 12,315
Weighted-average remaining lease term
Operating leases	2 years 2 months 12 days	1 year 6 months
Weighted-average discount rate
Operating leases	5.70%	5.70%

Summary of Maturities of Lease

Summary of Maturities of Lease Liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases
2024	¥ 2,341
2025	2,918
2026	858
Total undiscounted lease payments	6,117
Less: imputed interest	(344)
Total lease liabilities	¥ 5,773	¥ 22,682

Schedule of Future Minimum Paym

Schedule of Future Minimum Payments Under Non-cancellable Operating Leases for Office Rental (Details) ¥ in Thousands	Dec. 31, 2023 CNY (¥)
Leases
2024	¥ 2,341
2025	2,918
2026	¥ 858

Leases (Details Narrative)

Leases (Details Narrative)	Dec. 31, 2023	Dec. 31, 2022
Leases
Discount rate	5.70%	5.70%

Schedule of Tax Payable (Detail

Schedule of Tax Payable (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Tax Payable
Value added tax		¥ 33,078	¥ 29,014
Corporate income tax		4,490	8,595
Individual income tax withholding		2,455	2,406
Urban maintenance and construction tax		77	79
Stamp duty		348	380
Total	$ 5,697	¥ 40,448	¥ 40,474

Tax payable (Details Narrative)

Tax payable (Details Narrative)	12 Months Ended
	Dec. 31, 2023
Tax Payable
Value added tax rate	6%

Schedule of Accrued Liabilities

Schedule of Accrued Liabilities and Other Liabilities (Details) ¥ in Thousands, $ in Thousands		Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Payables and Accruals [Abstract]
Accrued advertising and marketing expense			¥ 100,868	¥ 172,497
Tax surcharges and other fees			133,502	133,471
Accrued professional service fees			1,854	6,368
Refund from depositary bank	[1]			1,910
Others			7,619	22,016
Total		$ 34,344	¥ 243,843	¥ 336,262
[1]The Company received non-refundable incentive payment of US$ 1.8 12.5 5 2022 2.5 RMB 2.5 1.9

Schedule of Accrued Liabiliti_2

Schedule of Accrued Liabilities and Other Liabilities (Parenthetical) (Details) ¥ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Sep. 30, 2018 USD ($)	Sep. 30, 2018 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Payables and Accruals [Abstract]
Non-refundable incentive payment received from depositary bank	$ 1.8	¥ 12.5
Amount recorded ratably as other income, arrangement period			5 years
Reduction in general and administrative expenses			¥ 1.9	¥ 2.5	¥ 2.5

Convertible Loan (Details Narra

Convertible Loan (Details Narrative) $ / shares in Units, ¥ in Thousands, $ in Millions		3 Months Ended	12 Months Ended
	Apr. 04, 2019 USD ($) $ / shares	Mar. 31, 2020 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Apr. 04, 2022	Apr. 04, 2019 CNY (¥)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Additional consideration exchanged in return for two conversion date extensions		¥ 0
Cash received from Convertible loan				¥ 1,944,800		¥ 1,746,200
Alibaba Investment Limited [Member] | Convertible Loan Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Aggregate principal amount of convertible loan	$ 171.1										¥ 1,147,000
Convertible loan maturity date	Apr. 04, 2022
Convertible loan interest rate per anum	3%									3%	3%
Conversion price per share | $ / shares	$ 60
Cash received from Convertible loan								$ 171.1	¥ 1,147,000
Unpaid interest				734,700		556,200
Debt instrument accrued interest				¥ 185,800		¥ 468,400	¥ 35,400
Supplemental Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Interest expense on debt | $			$ 2.5		$ 4.5

Ordinary Share (Details Narrati

Ordinary Share (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Dec. 10, 2021	Sep. 01, 2017	Dec. 31, 2023	Dec. 31, 2022	Feb. 28, 2018	Jul. 17, 2017
Class of Stock [Line Items]
Ordinary shares, authorized amount		$ 50,000				$ 50,000
Ordinary shares, shares authorized						50,000
Ordinary shares, par value						$ 1
Ordinary shares, shares, issued		50,000
Ordinary shares, subdivided into multiple shares		500,000,000
Common Class B [Member]
Class of Stock [Line Items]
Ordinary shares, shares authorized			34,248,442	34,248,442
Ordinary shares, par value			$ 0.0001	$ 0.0001
Ordinary shares, shares, issued			32,937,193	32,937,193
Common Class A [Member]
Class of Stock [Line Items]
Ordinary shares, shares authorized			50,000,000	50,000,000
Ordinary shares, par value			$ 0.0001	$ 0.0001
Ordinary shares, shares, issued			42,812,245	42,812,245
Stockholders' equity note, stock split	four ADSs to one Class A ordinary share
Founders [Member] | 2017 Plan [Member]
Class of Stock [Line Items]
Ordinary shares, shares, issued					10,000,000

Summary of Share Option Activit

Summary of Share Option Activity (Details) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Number of options, Outstanding beginning balance	6,041,461	6,381,088	9,430,150
Weighted Average Exercise Price, Outstanding beginning balance	¥ 0.0007	¥ 0.0007	¥ 0.0007
Weighted Average Remaining Contractual Life, Outstanding	4 years 1 month 6 days	5 years 1 month 6 days	6 years 6 months	7 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding beginning balance	¥ 11,609	¥ 45,236	¥ 391,330
Weighted Average Grant Date Fair Value, Outstanding beginning balance	¥ 48.39	¥ 47.97	¥ 78.35
Number of options granted		170,953	1,041,585
Weighted Average Exercise Price, Granted	0.0007	¥ 0.0007	¥ 0.0007
Weighted Average Grant Date Fair Value, Granted		¥ 2.74	¥ 46.77
Number of options, Exercised		(355,745)	(3,049,281)
Weighted Average Exercise Price, Exercised	0.0007	¥ 0.0007	¥ 0.0007
Number of options, Forfeited		(154,835)	(1,035,306)
Weighted Average Exercise Price, Forfeited	0.0007	¥ 0.0007	¥ 0.0007
Number of options Cancelled			(6,060)
Weighted Average Exercise Price, Cancelled	¥ 0.0007	¥ 0.0007	¥ 0.0007
Number of options, Outstanding ending balance	6,041,461	6,041,461	6,381,088	9,430,150
Weighted Average Exercise Price, Outstanding ending balance	¥ 0.0007	¥ 0.0007	¥ 0.0007	¥ 0.0007
Aggregate Intrinsic Value, Outstanding ending balance	¥ 339	¥ 11,609	¥ 45,236	¥ 391,330
Weighted Average Grant Date Fair Value, Outstanding ending balance	¥ 49.21	¥ 48.39	¥ 47.97	¥ 78.35
Number of options, Vested and expected to vest	6,110,965
Weighted Average Exercise Price, Vested and expected to vest	¥ 0.0007
Weighted Average Remaining Contractual Life, Vested and expected to vest	4 years 1 month 6 days
Aggregate Intrinsic Value, Vested and expected to vest	¥ 343
Weighted Average Grant Date Fair Value, Vested and expected to vest	¥ 50.15
Number of options, Exercisable	6,033,599
Weighted Average Exercise Price, Exercisable	¥ 0.0007
Weighted Average Remaining Contractual Life, Exercisable	4 years
Aggregate Intrinsic Value, Exercisable	¥ 338
Weighted Average Grant Date Fair Value, Exercisable	¥ 49.96

Fair Values of Share Options Gr

Fair Values of Share Options Granted (Details) - Share-Based Payment Arrangement, Option [Member] - ¥ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility, Minimum	50.43%	60.31%
Expected volatility, Maximum	52%	61.94%
Risk-free interest rate, Minimum	2.47%	1.66%
Risk-free interest rate, Maximum	4.10%	1.96%
Exercise multiple	2.8	2.8
Expected dividend yield	0%	0%
Contractual term	10 years	10 years
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected forfeiture rate (post-vesting)	0%	0%
Share price	¥ 1.45	¥ 7.09
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected forfeiture rate (post-vesting)	2,000%	2,000%
Share price	¥ 3.83	¥ 60.19

Share-based compensation Shar_3

Share-based compensation Share option plan (Details Narrative) ¥ / shares in Units, ¥ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2019 Plans	Dec. 31, 2023 CNY (¥) $ / shares	Dec. 31, 2023 CNY (¥) ¥ / shares	Dec. 31, 2022 CNY (¥) ¥ / shares	Dec. 31, 2021 CNY (¥) ¥ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Intrinsic value of options exercised				¥ 22.2	¥ 296.7
Equity Incentive Plan 2019 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of plans | Plans	2
Share Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated fair value of underlying shares | (per share) | (per share)		$ 0.01	¥ 0.1	¥ 1.9	¥ 7.1
Fair value of share options vested				¥ 66.2	¥ 115.2
Unrecognized share-based compensation expense		$ 5.4	¥ 5.4
Share Option Plan [Member] | Shanghai Jifen Culture Communications Co., Ltd. ("Jifen or Jifen VIE") [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average vesting period			1 year
Share Option Plan [Member] | Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense			¥ 37.3	¥ 70.1	¥ 200.2

Employee benefits (Details Narr

Employee benefits (Details Narrative) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Amount incurred for employee benefits	¥ 30.1	¥ 50.6	¥ 98.7

Schedule of Reconciliation Betw

Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
PRC Statutory income tax rates	25%	25%	25%
Change in valuation allowance	(28.90%)	(17.20%)	(16.90%)
Permanent book — tax difference	29%	4.10%	(6.10%)
Difference in EIT rates of certain subsidiaries	(26.20%)	(12.00%)	(2.50%)
Total	(1.10%)	(0.10%)	(0.50%)

Schedule of Loss Before Income

Schedule of Loss Before Income Tax Expenses (Benefit) for Domestic and Foreign (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Income Tax Disclosure [Abstract]
Domestic		¥ (49,736)	¥ 316,425	¥ 870,174
Foreign		237,075	597,974	363,757
Total	$ 26,386	¥ 187,339	¥ 914,399	¥ 1,233,931

Schedule of Current and Deferre

Schedule of Current and Deferred Portions of Income Tax Expense (Benefit) (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Income Tax Disclosure [Abstract]
Current income tax expense		¥ 377	¥ 1,355	¥ 5,453
Deferred income tax benefit	$ (338)	(2,403)	(2,403)	(2,403)
Income tax expense (benefit)	$ (285)	¥ (2,026)	¥ (1,048)	¥ 3,050

Schedule of Significant Compone

Schedule of Significant Components of Deferred Tax Assets and Liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deductible temporary difference to accruals and others	¥ 518,990	¥ 522,575
Tax losses carried forward	913,576	978,345
Less: Valuation allowance	(1,432,566)	(1,500,920)
Total of deferred tax assets
Taxable temporary difference related to acquired right to operate an online audio/video content platform	11,616	14,019
Total of deferred tax liabilities	¥ 11,616	¥ 14,019

Schedule of Movement of Valuati

Schedule of Movement of Valuation Allowance (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Beginning balance	¥ 1,500,920	¥ 1,309,962	¥ 1,056,253
Current year additions	59,096	287,018	434,837
Current year reversals	(127,450)	(96,060)	(181,128)
Ending balance	¥ 1,432,566	¥ 1,500,920	¥ 1,309,962

Income Taxes (Details Narrative

Income Taxes (Details Narrative) ¥ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 HKD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 CNY (¥)
Operating Loss Carryforwards [Line Items]
Income tax rate	25%	25%	25%
Preferential income tax rate	(1.10%)	(0.10%)	(0.50%)
Deferred tax liability, intangible assets		¥ 14,019		¥ 11,616
Intangible assets, amortization period				10 years
Tax loss carryforwards		978,345		¥ 913,576
Valuation allowances		1,500,920		1,432,566
Online Audio Video Content Platform [Member]
Operating Loss Carryforwards [Line Items]
Deferred tax liability, intangible assets				¥ 11,600
Intangible assets, amortization period				10 years
Tax year 2023 [Member]
Operating Loss Carryforwards [Line Items]
Preferential income tax rate			12.50%
Tax year 2024 [Member]
Operating Loss Carryforwards [Line Items]
Preferential income tax rate			12.50%
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Intangible assets, amortization period				10 years
HONG KONG | Profit Upto HK$2.0 Million [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate	8.25%
HONG KONG | Profit Upto HK$2.0 Million [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Taxable profit amount | $	$ 2
HONG KONG | Profit After HK$2.0 Million [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate	16.50%
CHINA
Operating Loss Carryforwards [Line Items]
Income tax rate	25%
Withholding income tax rate for dividends distributed	10%
Withholding income tax rate for dividends declared to holding company	5%
Withholding income tax rate on dividends for Hong Kong holding company which recognized as beneficial owner	25%
Income taxes preferential tax rate review period	3 years
Income taxes preferential tax rate	15%
Tax loss carryforwards		4,434,500	¥ 3,311,900	¥ 3,936,900
Valuation allowances		¥ 1,500,900		¥ 1,432,600
CHINA | Enterprise Income Tax Law [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate	25%

Other Operating Income (Details

Other Operating Income (Details Narrative) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
[custom:InputVatAdditionalCreditAdmissiblePercentage]			10%
[custom:SuperDeductionsOfValueAddedTax]	¥ 2.8	¥ 21	¥ 33.1
Other Operating Income (Expense) [Member]
[custom:ValueAddedTaxIncome]	¥ 6.3	¥ 40.8	¥ 73

Other Income_(Expenses), net (D

Other Income/(Expenses), net (Details Narrative) ¥ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Nov. 30, 2022 USD ($)	Nov. 30, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Fines and penalities paid by subsidiary			¥ 82.8
Loss Contingency, Damages Paid, Value	$ 1.4	¥ 10
Gain on disposal of subsidiary				¥ 23.1
Third Party [Member]
Equity Method Investment, Ownership Percentage				60%

Schedule of Redeemable Noncontr

Schedule of Redeemable Noncontrolling Interests Activities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Beginning balance	¥ 1,414,435	¥ 1,172,218	¥ 1,093,526
Foreign exchange impact	24,719	117,540	(30,034)
Accretion to redemption value of redeemable non-controlling interests	143,976	124,677	108,726
Ending balance	¥ 1,583,130	¥ 1,414,435	¥ 1,172,218

Redeemable non-controlling in_3

Redeemable non-controlling interests and non-controlling interests (Details Narrative) $ / shares in Units, ¥ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 30, 2019 USD ($) shares

Dec. 31, 2020 USD ($) $ / shares shares

Dec. 31, 2023 USD ($)

Dec. 31, 2023 CNY (¥)

Dec. 31, 2022 CNY (¥)

Dec. 31, 2021 CNY (¥)

Dec. 31, 2020 USD ($) $ / shares shares

Dec. 31, 2020 CNY (¥)

Dec. 31, 2023 CNY (¥)

Mar. 31, 2019 USD ($) shares

Mar. 31, 2019 CNY (¥) shares

Nov. 30, 2018 USD ($) shares

Nov. 30, 2018 CNY (¥) shares

May 31, 2018

Noncontrolling Interest [Line Items]

Issuance costs

¥ 3,135

Cash

55,000,000

¥ 360,600

Finite-lived intangible assets acquired | ¥

136,100

Overseas Subsidiary [Member]

Noncontrolling Interest [Line Items]

Ownership of subsidiaries

62.23%

Equity interests percentage

37.77%

Series B Convertible Redeemable Preferred Shares [Member]

Noncontrolling Interest [Line Items]

Preferred stock cash consideration

$ 20,000,000

135,400

Preferred stock redemption discount of subsidiary | ¥

¥ 14,800

Fun Literature [Member]

Noncontrolling Interest [Line Items]

Purchase shares from holders

5 years

5 years

Redemption days

60 days

60 days

Annual compound interest rate

10%

10%

Fun Literature [Member] | Developed Technology Rights [Member]

Noncontrolling Interest [Line Items]

Finite-lived intangible assets acquired

$ 20,800,000

¥ 136,100

Fun Literature [Member] | Content [Member]

Noncontrolling Interest [Line Items]

Finite-lived intangible assets acquired

$ 36,600,000

¥ 240,000

Fun Literature [Member] | Series A Convertible Redeemable Preferred Shares [Member]

Noncontrolling Interest [Line Items]

Mezzanine equity, shares issued

1,097,212

1,097,212

3,763,440

3,763,440

Mezzanine equity, aggregate amount of redemption

$ 4,000,000

¥ 27,500

$ 14,000,000

¥ 97,100

Conversion Ratio

1

1

Fun Literature [Member] | Series B Convertible Redeemable Preferred Shares [Member]

Noncontrolling Interest [Line Items]

Extended redemption period

5 years

5 years

Fun Literature [Member] | Series B Convertible Redeemable Preferred Shares [Member] | Minimum [Member]

Noncontrolling Interest [Line Items]

Share price | $ / shares

$ 4.307

$ 4.307

Fun Literature [Member] | Series B Convertible Redeemable Preferred Shares [Member] | CMC Capital [Member]

Noncontrolling Interest [Line Items]

Number of preferred shares issued

8,794,903

Preferred stock cash consideration | $

$ 50,000,000

Stock transferred during period shares

4,643,603

Stock transferred during period value | $

$ 20,000,000

Fun Literature [Member] | Series A and B Convertible Redeemable Preferred Shares [Member]

Noncontrolling Interest [Line Items]

Annual compound interest rate

4%

Fun Literature [Member] | Series C Convertible Redeemable Preferred Shares [Member]

Noncontrolling Interest [Line Items]

Preferred stock cash consideration

$ 111,800,000

¥ 733,200

Issuance costs

$ 500,000

¥ 3,100

Fun Literature [Member] | Series C Convertible Redeemable Preferred Shares [Member] | Share-Based Payment Arrangement, Tranche One [Member]

Noncontrolling Interest [Line Items]

Number of preferred shares issued

9,776,007

9,776,007

Fun Literature [Member] | Series C Convertible Redeemable Preferred Shares [Member] | Share-Based Payment Arrangement, Tranche Two [Member]

Noncontrolling Interest [Line Items]

Number of preferred shares issued

17,676,002

17,676,002

Schedule of Transaction and Bal

Schedule of Transaction and Balance Amount Due to/from Related Parties (Details) ¥ in Thousands, $ in Thousands		Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)		Dec. 31, 2022 CNY (¥)		Dec. 31, 2021 CNY (¥)
Advertisement Costs Charged from a Related Party [Member]
Related Party Transaction [Line Items]
Amount due from related parties	[1]		¥ 345		¥ 14,564		¥ 103,275
Gaming Cost Sharing Charged from a Related Party [Member]
Related Party Transaction [Line Items]
Amount due from related parties							11
Others advertising and promotional costs charged from a related party [Member]
Related Party Transaction [Line Items]
Amount due from related parties	[2]		189		7,945		15,840
Related Party [Member]
Related Party Transaction [Line Items]
Amount due to related parties	[1]		154		592
Amount due from related parties		$ 6,449	45,787	[3]	48,802	[3]
Advertising and Marketing Service Provided to Related Party [Member]
Related Party Transaction [Line Items]
Amount due to related parties	[3]		¥ 17		¥ 2,451		¥ 40,263
[1]In 2019 the Group entered into CPM (cost per impression) arrangements with media platforms under the common control of the founder for the Group’s customer’s advertisement placement. The total service fee charged from related parties amounted to RMB 103.3 14.6 0.3

Schedule of Transaction and B_2

Schedule of Transaction and Balance Amount Due to/from Related Parties (Details) (Parenthetical) - CNY (¥) ¥ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Advertising and Marketing Service Provided to Related Party [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	¥ 45.8	¥ 48.8
Advertisement Costs Charged from a Related Party [Member]
Related Party Transaction [Line Items]
Amounts due from related parties	¥ 0.3	14.6	¥ 103.3
Founder of the Company [Member] | Advertising and Marketing Service Provided to Related Party [Member]
Related Party Transaction [Line Items]
Amounts due to related parties		¥ 2.5	¥ 40.3

Schedule of Basic Loss Per Shar

Schedule of Basic Loss Per Share And Diluted Loss Per Share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Numerator:
Net loss attributable to Qutoutiao Inc.	$ (26,101)	¥ (185,313)	¥ (914,767)	¥ (1,239,617)
Net loss attributable to ordinary shareholders -Basic	$ (46,379)	(329,289)	(1,039,444)	(1,348,513)
Net loss attributable to ordinary shareholders -Diluted | ¥		¥ (329,289)	¥ (1,039,444)	¥ (1,348,513)
Denominator:
Weighted Average Number of Shares Outstanding, Basic | shares	76,631,037	76,631,037	76,629,816	75,767,532
Weighted Average Number of Shares Outstanding, Diluted | shares	76,631,037	76,631,037	76,629,816	75,767,532
Earnings Per Share, Basic | (per share)	$ (0.61)	¥ (4.3)	¥ (13.56)	¥ (17.80)
Earnings Per Share, Diluted | (per share)	$ (0.61)	¥ (4.3)	¥ (13.56)	¥ (17.80)
Series A Convertible Redeemable Preferred Shares [Member]
Numerator:
Accretion to redemption value | ¥		¥ (18,370)	¥ (15,947)	¥ (14,089)
Series B Convertible Redeemable Preferred Shares [Member]
Numerator:
Accretion to redemption value | ¥		(28,736)	(24,918)	(21,726)
Series C Convertible Redeemable Preferred Stock [Member]
Numerator:
Accretion to redemption value | ¥		¥ (96,870)	¥ (83,812)	¥ (73,081)
American Depositary Shares [Member]
Denominator:
Weighted Average Number of Shares Outstanding, Basic | shares	30,652,414	30,652,414	30,651,926	30,307,013
Weighted Average Number of Shares Outstanding, Diluted | shares	30,652,414	30,652,414	30,651,926	30,307,013
Earnings Per Share, Basic | ¥ / shares		¥ (10.74)	¥ (33.91)	¥ (44.50)
Earnings Per Share, Diluted | ¥ / shares		¥ (10.74)	¥ (33.91)	¥ (44.50)

Schedule of Potential Ordinary

Schedule of Potential Ordinary Shares Excluded from Computation of Diluted Net Loss per Ordinary Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average	219,083	219,083	546,035

Basic and diluted net loss pe_3

Basic and diluted net loss per share (Details Narrative) - ¥ / shares shares in Thousands		12 Months Ended
	Dec. 02, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average number of shares subject to contingently issuable shares		4,967,207	5,087,049	5,891,689
Weighted average exercise price of options included in computation of basic eps		¥ 0.0007	¥ 0.0007	¥ 0.0007
American Depositary Shares [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average number of shares subject to contingently issuable shares		1,986,883	2,034,820	2,356,676
Common Class A [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Description about ratio of stock conversion	For all the periods presented, basic and diluted loss per ADS, including the contingently issuable shares mentioned in (1) above, have been revised assuming the change of ADS ratio from a ratio of four ADSs to one Class A ordinary share to a new Ratio of two ADSs to five Class A ordinary shares occurred at the beginning of the earliest period presented	current ADS Ratio of four (4) ADSs to one (1) Class A ordinary share to a new ADS Ratio of two (2) ADSs to five (5) Class A ordinary shares

Commitments and contingencies (

Commitments and contingencies (Details Narrative)	12 Months Ended
	Dec. 31, 2022 CNY (¥)
Operating Leased Assets [Line Items]
Fines and penalities paid by subsidiary	¥ 82,800,000
Additional Litigation Settlement [Member]
Operating Leased Assets [Line Items]
Loss contingency settlement, accrued	¥ 0

Restricted net assets (Details

Restricted net assets (Details Narrative)	12 Months Ended
	Dec. 31, 2023
Restrictions on net assets of PRC subsidiaries, threshold percentage	25%
Variable Interest Entity, Primary Beneficiary [Member]
Percentage of transfer of net income after tax to statutory general reserve	10%
Percentage of reserve funds that reached registered capital	50%

Subsequent events (Details Narr

Subsequent events (Details Narrative) ¥ in Millions, $ in Millions	Sep. 30, 2024 CNY (¥)	May 17, 2024 CNY (¥)	Dec. 31, 2023 USD ($)
Subsequent Event [Line Items]
Convertible loan | $			$ 171.1
Subsequent Event [Member]
Subsequent Event [Line Items]
Convertible loan | ¥	¥ 0.5	¥ 0.5

Condensed Financial Statements

Condensed Financial Statements of Parent Company - Balance Sheets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Current assets:
Cash and cash equivalents	$ 10,514	¥ 74,648	¥ 122,801	¥ 240,351
Prepayments and other current assets	19,427	137,933	158,811
Total current assets	49,155	348,996	481,825
Other non-current assets	94	666	2,902
Total non-current assets	9,073	64,415	99,711
Total assets	58,228	413,411	581,536
Current liabilities:
Total current liabilities	113,784	807,853	990,034
Non-current liabilities:
Non-current liabilities	276,034	1,959,816	1,767,806
Total liabilities	389,818	2,767,669	2,757,840
Shareholders’ deficit:
Additional paid-in capital	716,456	5,086,766	5,049,458
Treasury stock (US$0.0001 par value; 4,085,608 and 4,085,608 shares as of December 31, 2022 and 2023, respectively)	(20,033)	(142,229)	(142,229)
Accumulated other comprehensive loss	(22,183)	(157,502)	(102,834)
Accumulated deficit	(1,228,816)	(8,724,500)	(8,395,184)
Total shareholders' deficit		(3,937,388)	(3,590,739)	¥ (2,389,556)	¥ (1,285,363)
Total liabilities, mezzanine equity and shareholders' deficit	58,228	413,411	581,536
Common Class A [Member]
Shareholders’ deficit:
Common stock, value	4	26	26
Common Class B [Member]
Shareholders’ deficit:
Common stock, value	3	24	24
Parent Company [Member]
Current assets:
Cash and cash equivalents	6,115	43,409	50,989
Amount due from subsidiaries and VIEs of the Company	532,881	3,783,399	3,698,706
Prepayments and other current assets	1,328	9,436	2,935
Total current assets	540,324	3,836,244	3,752,630
Other non-current assets			1,476
Total non-current assets			1,476
Total assets	540,324	3,836,244	3,754,106
Current liabilities:
Accrued expenses and other current liabilities			978
Amounts due to subsidiaries and VIEs of the Company	32,438	230,306	181,598
Total current liabilities	32,438	230,306	182,576
Non-current liabilities:
Convertible loan	273,924	1,944,834	1,746,188
Investment deficit of subsidiaries and VIEs	788,531	5,598,492	5,416,081
Non-current liabilities	1,062,455	7,543,326	7,162,269
Total liabilities	1,094,893	7,773,632	7,344,845
Shareholders’ deficit:
Additional paid-in capital	716,456	5,086,766	5,049,458
Treasury stock (US$0.0001 par value; 4,085,608 and 4,085,608 shares as of December 31, 2022 and 2023, respectively)		(142,229)	(142,229)
Treasury stock (US$0.0001 par value; 4,085,608 and 4,085,608 shares as of December 31, 2022 and 2023, respectively) | $	(20,033)
Accumulated other comprehensive loss	(22,183)	(157,502)	(102,834)
Accumulated deficit	(1,228,816)	(8,724,473)	(8,395,184)
Total shareholders' deficit	(554,569)	(3,937,388)	(3,590,739)
Total liabilities, mezzanine equity and shareholders' deficit	540,324	3,836,244	3,754,106
Parent Company [Member] | Common Class A [Member]
Shareholders’ deficit:
Common stock, value	4	26	26
Parent Company [Member] | Common Class B [Member]
Shareholders’ deficit:
Common stock, value	$ 3	¥ 24	¥ 24

Condensed Financial Statement_2

Condensed Financial Statements of Parent Company - Balance Sheets (Details) (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Sep. 01, 2017	Jul. 17, 2017
Condensed Financial Statements, Captions [Line Items]
Common stock, par value				$ 1
Common stock, shares authorized				50,000
Common stock, shares, issued			50,000
Treasury stock, shares	4,085,608
Common Class A [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares, issued	42,812,245	42,812,245
Common stock, shares, outstanding	38,726,637	38,726,637
Common Class B [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	34,248,442	34,248,442
Common stock, shares, issued	32,937,193	32,937,193
Common stock, shares, outstanding	32,937,193	32,937,193
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Treasury stock, par value	$ 0.0001	$ 0.0001
Treasury stock, shares	4,085,608	4,085,608
Parent Company [Member] | Common Class A [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares, issued	42,812,245	42,812,245
Common stock, shares, outstanding	38,726,637	38,726,637
Parent Company [Member] | Common Class B [Member]
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	34,248,442	34,248,442
Common stock, shares, issued	32,937,193	32,937,193
Common stock, shares, outstanding	32,937,193	32,937,193

Condensed Financial Statement_3

Condensed Financial Statements of Parent Company - Statements of Comprehensive Loss (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Operating expenses:
General and administrative	$ (7,868)	¥ (55,853)	¥ (155,445)	¥ (431,913)
Total operating expenses	(49,459)	(351,145)	(900,765)	(4,467,298)
Interest expense	(26,169)	(185,794)	(468,612)	(35,477)
Foreign exchange related gains, net	(14)	(102)	(903)	(1)
Loss before income taxes	(26,386)	(187,339)	(914,399)	(1,233,931)
Net loss	(26,101)	(185,300)	(914,767)	(1,240,176)
Net loss attributable to Qutoutiao Inc.' s ordinary shareholders	(46,379)	(329,289)	(1,039,444)	(1,348,513)
Net loss	(26,101)	(185,300)	(914,767)	(1,240,176)
Foreign currency translation adjustment, net of nil tax	(7,700)	(54,668)	(231,844)	44,690
Comprehensive loss attributable to Qutoutiao Inc.	(33,801)	(239,981)	(1,146,611)	(1,194,927)
Parent Company [Member]
Operating expenses:
General and administrative	(6,631)	(47,078)	(77,185)	(208,594)
Total operating expenses	(6,631)	(47,078)	(77,185)	(208,594)
Loss from operations	(6,631)	(47,078)	(77,185)	(208,594)
Investment income (loss)	198	1,408	585	(27,589)
Interest expense	(26,169)	(185,794)	(468,358)	(30,683)
Foreign exchange related gains, net	(2)	(14)	(220)
Other expenses, net	(5)	(33)	(42)	(41)
Loss from subsidiaries and VIEs	6,508	46,198	(369,547)	(972,710)
Loss before income taxes	(26,101)	(185,313)	(914,767)	(1,239,617)
Net loss	(26,101)	(185,313)	(914,767)	(1,239,617)
Accretion to redemption value of convertible redeemable preferred shares of a subsidiary	(20,278)	(143,976)	(124,677)	(108,896)
Net loss attributable to Qutoutiao Inc.' s ordinary shareholders	(46,379)	(329,289)	(1,039,444)	(1,348,513)
Net loss	(26,101)	(185,313)	(914,767)	(1,239,617)
Foreign currency translation adjustment, net of nil tax	(7,700)	(54,668)	(231,844)	44,690
Comprehensive loss attributable to Qutoutiao Inc.	$ (33,801)	¥ (239,981)	¥ (1,146,611)	¥ (1,194,927)

Condensed Financial Statement_4

Condensed Financial Statements of Parent Company - Statements of Cash Flows (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Condensed Financial Statements, Captions [Line Items]
Cash flows used in operating activities	$ (9,253)	¥ (65,700)	¥ (443,797)	¥ (279,122)
Cash flows provided by/(used in) investing activities	3,730	26,483	267,555	75,521
Cash, cash equivalents and restricted cash at the beginning of year	18,367	130,401	315,833	594,791
Cash, cash equivalents and restricted cash at the end of year	12,917	91,706	130,401	315,833
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Cash flows used in operating activities	(4,498)	(31,937)	(39,578)	(14,807)
Cash flows provided by/(used in) investing activities	3,315	23,535	68,089	32,506
Effect of exchange rate changes on cash	116	822	2,845	1
Net increase/(decrease) in cash and cash equivalents	(1,067)	(7,580)	31,356	17,700
Cash, cash equivalents and restricted cash at the beginning of year	7,182	50,989	19,633	1,933
Cash, cash equivalents and restricted cash at the end of year	$ 6,115	¥ 43,409	¥ 50,989	¥ 19,633