Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2022 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | BURNING ROCK BIOTECH LIMITED |
Entity Central Index Key | 0001792267 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 001-39316 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Current assets: | |||
Cash and cash equivalents | ¥ 1,148,597 | $ 171,481 | ¥ 1,431,317 |
Restricted cash | 4,453 | 665 | 7,795 |
Short-term investments | 0 | 0 | 63,757 |
Accounts receivable (net of allowances of RMB39,166 and RMB44,823 (US$6,692) as of December 31, 2021 and June 30, 2022, respectively.) | 100,960 | 15,073 | 92,197 |
Contract assets | 44,593 | 6,657 | 42,391 |
Inventories, net | 129,637 | 19,355 | 123,210 |
Prepayments and other current assets | 34,845 | 5,205 | 60,279 |
Total current assets | 1,463,085 | 218,436 | 1,820,946 |
Non-current assets: | |||
Equity method investment | 733 | 109 | 910 |
Convertible note receivable, Noncurrent | 5,000 | 746 | 0 |
Property and equipment, net | 301,249 | 44,975 | 325,438 |
Operating right-of-use assets | 66,655 | 9,951 | 81,007 |
Intangible assets, net | 3,354 | 500 | 5,150 |
Other non-current assets | 21,198 | 3,165 | 45,136 |
Total non-current assets | 398,189 | 59,446 | 457,641 |
TOTAL ASSETS | 1,861,274 | 277,882 | 2,278,587 |
Current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB279,601and RMB275,112 (US$41,072) as of December 31, 2021 and June 30, 2022, respectively): | |||
Accounts payable | 56,495 | 8,434 | 63,080 |
Deferred revenue | 163,093 | 24,349 | 142,871 |
Accrued liabilities and other current liabilities | 98,435 | 14,696 | 127,892 |
Customer deposits | 1,052 | 157 | 972 |
Short-term borrowings | 2,370 | 354 | 2,370 |
Current portion of operating lease liabilities | 38,005 | 5,674 | 34,999 |
Total current liabilities | 359,450 | 53,664 | 372,184 |
Non-current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB38,232 and RMB41,896 (US$6,255) as of December 31, 2021 and June 30, 2022, respectively): | |||
Other non-current liabilities | 37,242 | 4,830 | 11,776 |
Operating lease liabilities | 32,349 | 5,560 | 49,316 |
Total non-current liabilities | 69,591 | 10,390 | 61,092 |
TOTAL LIABILITIES | 429,041 | 64,054 | 433,276 |
Commitments and contingencies | |||
Shareholders' equity: | |||
Equity forward | (66,850) | (9,980) | 0 |
Additional paid-in capital | 4,431,603 | 661,621 | 4,280,956 |
Accumulated deficits | (2,752,238) | (410,898) | (2,228,713) |
Accumulated other comprehensive loss | (180,419) | (26,936) | (207,069) |
Total shareholders' equity | 1,432,233 | 213,828 | 1,845,311 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,861,274 | 277,882 | 2,278,587 |
Common Class A [Member] | |||
Shareholders' equity: | |||
Ordinary shares | 116 | 18 | 116 |
Common Class B [Member] | |||
Shareholders' equity: | |||
Ordinary shares | ¥ 21 | $ 3 | ¥ 21 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) shares | Jun. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2021 CNY (¥) shares | Dec. 31, 2021 $ / shares |
Accounts Receivable, Allowance | ¥ 44,823 | $ 6,692 | ¥ 39,166 | |
Common Class A [Member] | ||||
Ordinary Shares, Par value | $ / shares | $ 0.0002 | $ 0.0002 | ||
Ordinary Shares, Shares authorized | 230,000,000 | 230,000,000 | 230,000,000 | |
Ordinary Shares, Shares issued | 88,116,172 | 88,116,172 | 87,784,001 | |
Ordinary Shares, Shares outstanding | 88,116,172 | 88,116,172 | 87,784,001 | |
Common Class B [Member] | ||||
Ordinary Shares, Par value | $ / shares | $ 0.0002 | $ 0.0002 | ||
Ordinary Shares, Shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | |
Ordinary Shares, Shares issued | 17,324,848 | 17,324,848 | 17,324,848 | |
Ordinary Shares, Shares outstanding | 17,324,848 | 17,324,848 | 17,324,848 | |
Nonrecourse [Member] | ||||
Consolidated VIE and its subsidiaries, Current | ¥ 275,112 | $ 41,072 | ¥ 279,601 | |
Consolidated VIE and its subsidiaries, Non-current | ¥ 41,896 | $ 6,255 | ¥ 38,232 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Comprehensive Loss ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) ¥ / shares shares | Jun. 30, 2022 USD ($) $ / shares shares | Jun. 30, 2021 CNY (¥) ¥ / shares shares | |
Revenues: | |||
Revenues | ¥ 266,370 | $ 39,768 | ¥ 233,902 |
Cost of revenues: | |||
Cost of revenues: | (96,188) | (14,361) | (66,731) |
Gross profit | 170,182 | 25,407 | 167,171 |
Operating expenses: | |||
Research and development expenses | (211,608) | (31,592) | (185,485) |
Selling and marketing expenses | (194,845) | (29,090) | (123,188) |
General and administrative expenses (including related party amounts of RMB475 and RMB94 (US$14) for the six months ended June 30, 2021 and 2022, respectively.) | (292,049) | (43,602) | (232,389) |
Total operating expenses | (698,502) | (104,284) | (541,062) |
Loss from operations | (528,320) | (78,877) | (373,891) |
Interest income | 4,517 | 674 | 1,468 |
Interest expense | 90 | 13 | (1,075) |
Other expense, net (net off by related party income of RMB334 and nil for the six months ended June 30, 2021 and 2022, respectively.) | 425 | 63 | 551 |
Foreign exchange (loss) gain, net | (153) | (23) | (503) |
Loss before income tax | (523,441) | (78,150) | (373,450) |
Income tax expenses | (84) | (13) | (1,626) |
Net loss | (523,525) | (78,163) | (375,076) |
Net loss attributable to Burning Rock Biotech Limited's shareholders | (523,525) | (78,163) | (375,076) |
Other comprehensive (loss) income, net of tax of nil: | |||
Foreign currency translation adjustments | 26,650 | 3,979 | (20,900) |
Total comprehensive loss | (496,875) | (74,184) | (395,976) |
Total comprehensive loss attributable to Burning Rock Biotech Limited's shareholders | ¥ (496,875) | $ (74,184) | ¥ (395,976) |
Common Class A [Member] | |||
Loss per share for class A and class B ordinary shares: | |||
Loss per share - basic | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Loss per share - diluted | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Weighted average shares outstanding used in loss per share computation: | |||
Weighted average shares outstanding used in loss per share - basic | 87,357,120 | 87,357,120 | 86,742,880 |
Weighted average shares outstanding used in loss per share - diluted | 87,357,120 | 87,357,120 | 86,742,880 |
Common Class B [Member] | |||
Loss per share for class A and class B ordinary shares: | |||
Loss per share - basic | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Loss per share - diluted | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Weighted average shares outstanding used in loss per share computation: | |||
Weighted average shares outstanding used in loss per share - basic | 17,324,848 | 17,324,848 | 17,324,848 |
Weighted average shares outstanding used in loss per share - diluted | 17,324,848 | 17,324,848 | 17,324,848 |
Service [Member] | |||
Revenues: | |||
Revenues | ¥ 185,581 | $ 27,707 | ¥ 164,414 |
Cost of revenues: | |||
Cost of revenues: | (66,462) | (9,923) | (46,731) |
Product [Member] | |||
Revenues: | |||
Revenues | 80,789 | 12,061 | 69,488 |
Cost of revenues: | |||
Cost of revenues: | ¥ (29,726) | $ (4,438) | ¥ (20,000) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements Of Comprehensive Loss (Parenthetical) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Related Party Income | ¥ 334 | ||
General and Administrative Expense [Member] | |||
Expense related to related parties | ¥ 94 | $ 14 | ¥ 475 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements Of Shareholders' Equity ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) | Common Stock [Member] CNY (¥) shares | Common Stock [Member] USD ($) shares | Treasury stock [Member] CNY (¥) | Treasury stock [Member] USD ($) | Additional paid-in capital [Member] CNY (¥) | Additional paid-in capital [Member] USD ($) | Accumulated deficits [Member] CNY (¥) | Accumulated deficits [Member] USD ($) | Equity forward [Member] CNY (¥) | Equity forward [Member] USD ($) | Accumulated other comprehensive (loss) income [Member] CNY (¥) | Accumulated other comprehensive (loss) income [Member] USD ($) |
Beginning balance at Dec. 31, 2020 | ¥ 2,421,004 | ¥ 137 | ¥ 4,006,616 | ¥ (1,418,160) | ¥ (167,589) | |||||||||
Beginning balance, (in shares) at Dec. 31, 2020 | shares | 104,781,929 | 104,781,929 | ||||||||||||
Net loss | (375,076) | (375,076) | ||||||||||||
Other comprehensive income | (20,900) | (20,900) | ||||||||||||
Issuance of restricted shares (note 14) | shares | 2,424 | 2,424 | ||||||||||||
Refund for prepaid subscription for forfeited restricted shares | (1,629) | (1,629) | ||||||||||||
Refund for prepaid subscription for forfeited restricted shares (in shares) | shares | (16,233) | (16,233) | ||||||||||||
Adoption of ASC 326 | (13,856) | (13,856) | ||||||||||||
Purchase of treasury stock | (4,270) | ¥ (4,270) | ||||||||||||
Purchase of treasury stock (in shares) | shares | (61,026) | (61,026) | ||||||||||||
Exercise of options (note 11) (in shares) | shares | 85,903 | 85,903 | ||||||||||||
Share-based compensation (note 11) | 168,167 | 168,167 | ||||||||||||
Ending balance, (in shares) at Jun. 30, 2021 | shares | 104,792,997 | 104,792,997 | ||||||||||||
Ending balance at Jun. 30, 2021 | 2,173,440 | ¥ 137 | (4,270) | 4,173,154 | (1,807,092) | (188,489) | ||||||||
Beginning balance at Dec. 31, 2021 | 1,845,311 | ¥ 137 | 4,280,956 | (2,228,713) | (207,069) | |||||||||
Beginning balance, (in shares) at Dec. 31, 2021 | shares | 105,108,849 | 105,108,849 | ||||||||||||
Net loss | (523,525) | $ (78,163) | (523,525) | |||||||||||
Other comprehensive income | 26,650 | 26,650 | ||||||||||||
Refund of consideration for Employee Share Incentive Program | (3,385) | (3,385) | ||||||||||||
Refund of consideration for Employee Share Incentive Program, (in shares) | shares | (73,489) | (73,489) | ||||||||||||
Purchase of treasury stock | (3,258) | (3,258) | ||||||||||||
Equity forward contract (note 10) | (66,850) | ¥ (66,850) | ||||||||||||
Exercise of options (note 11) | 3,258 | (3,258) | ||||||||||||
Exercise of options (note 11) (in shares) | shares | 405,661 | 405,661 | ||||||||||||
Share-based compensation (note 11) | 157,290 | 157,290 | ||||||||||||
Ending balance, (in shares) at Jun. 30, 2022 | shares | 105,441,021 | 105,441,021 | ||||||||||||
Ending balance at Jun. 30, 2022 | ¥ 1,432,233 | $ 213,828 | ¥ 137 | $ 21 | ¥ 0 | $ 0 | ¥ 4,431,603 | $ 661,621 | ¥ (2,752,238) | $ (410,898) | ¥ (66,850) | $ (9,980) | ¥ (180,419) | $ (26,936) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Cash flows from operating activities: | |||
Net loss | ¥ (523,525) | $ (78,163) | ¥ (375,076) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 60,154 | 8,981 | 21,652 |
Allowance for credit losses | 16,677 | 2,490 | 3,054 |
Inventory write down | 7,007 | 1,046 | 1,697 |
Loss on disposal of equipment | 1,113 | 166 | 13 |
Share of loss from equity method investee | 217 | 32 | 143 |
Share-based compensation | 157,290 | 23,483 | 168,167 |
Non-cash operating lease expenses | 19,739 | 2,947 | 12,756 |
Derecognition of right of use assets and lease liability | (137) | (20) | 0 |
Changes in operating assets and liabilities: | |||
Inventories | (10,948) | (1,634) | (55,299) |
Accounts receivable | (14,420) | (2,153) | (344) |
Contract assets | (13,317) | (1,988) | (12,282) |
Prepayments and other current assets | 25,554 | 3,815 | (22,461) |
Amounts due from related parties | 0 | 0 | (416) |
Other non-current assets | 24,187 | 3,611 | 0 |
Accounts payable | 3,877 | 579 | 9,315 |
Deferred revenue | 20,222 | 3,019 | 27,115 |
Accrued liabilities and other current liabilities | (29,457) | (4,399) | (1,305) |
Customer deposits | 80 | 12 | (78) |
Deferred government grants | 0 | 0 | (263) |
Operating lease liabilities | (19,584) | (2,924) | (8,531) |
Other non-current liabilities | 21,637 | 3,230 | 0 |
Net cash used in operating activities | (253,634) | (37,870) | (232,143) |
Cash flows from investing activities: | |||
Proceeds from maturity of short-term investments | 65,598 | 9,794 | 323,335 |
Proceeds from disposal of equipment | 352 | 53 | 2,559 |
Prepayment for property and equipment | (7,901) | (1,180) | 0 |
Purchase of property and equipment | (35,137) | (5,243) | (104,822) |
Purchase of intangible assets | (194) | (29) | (320) |
Investment in convertible loan | (5,000) | (746) | 0 |
Net cash generated from investing activities | 17,718 | 2,649 | 220,752 |
Cash flows from financing activities: | |||
Purchase of equity forward | (66,850) | (9,980) | 0 |
Purchase of treasury shares | (3,258) | (486) | (4,270) |
Refund of consideration for Employee Share Incentive Program | (3,385) | (505) | (1,629) |
Finance lease payments | 0 | 0 | (2,647) |
Repayment of long-term borrowings | 0 | (4,577) | |
Net cash used in financing activities | (73,493) | (10,971) | (13,123) |
Effect of exchange rate on cash, cash equivalents and restricted cash | 23,347 | 3,484 | (17,427) |
Net decrease in cash, cash equivalents and restricted cash | (286,062) | (42,708) | (41,941) |
Cash, cash equivalents and restricted cash at the beginning of period | 1,439,112 | 214,854 | 1,925,206 |
Total cash, cash equivalents and restricted cash shown in the condensed consolidated balance sheets | 1,153,050 | 172,146 | 1,883,265 |
Supplemental disclosures of non-cash information: | |||
Purchase of property and equipment included in accounts payable | 10,462 | 1,562 | 3,186 |
Purchase of property and equipment included in other non-current assets | 7,794 | 1,164 | (4,170) |
Derecognition of right-of-use asset and lease liability | 137 | 20 | 0 |
Reconciliation of cash, cash equivalents and restricted cash: | |||
Cash and cash equivalents | 1,148,597 | 171,481 | 1,852,927 |
Restricted cash | 4,453 | 665 | 30,338 |
Total cash, cash equivalents and restricted cash shown in the condensed consolidated balance sheets | ¥ 1,153,050 | $ 172,146 | ¥ 1,883,265 |
Organization
Organization | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | 1. ORGANIZATION Burning Rock Biotech Limited (the “Company”) is a limited liability company incorporated in the Cayman Islands on March 10, 2014. The Company does not conduct any substantive operations on its own but instead conducts its business operations through its subsidiaries, the variable interest entity (“VIE”) and subsidiaries of the VIE. The Company, together with its subsidiaries, the VIE and the VIE’s subsidiaries (collectively, the “Group”) are principally engaged in developing and providing cancer therapy selection tests in the People’s Republic of China (the “PRC” or “China”). There was no change to the Company’s principal subsidiaries, the VIE and the VIE’s subsidiaries since December 31, 2021 To comply with PRC laws and regulations which prohibit and restrict foreign ownership of business involving the development and application of genomic diagnosis and treatment technology, the Group conducts its business in the PRC principally through the VIE and the VIE’s subsidiaries. The equity interests of the VIE are legally held by PRC shareholders (the “Nominee Shareholders”). Despite the lack of majority ownership, the Company through the wholly foreign owned entity (“the WFOE”) has effective control of the VIE through a series of contractual arrangements (the “VIE agreements”) and a parent-subsidiary relationship exists between the Company and the VIE. Through the VIE agreements, the Nominee Shareholders of the VIE effectively assigned all of their voting rights underlying their equity interests in the VIE to the Company, and therefore, the Company has the power to direct the activities of the VIE that most significantly impact its economic performance. The Company also has the right to receive economic benefits that potentially could be significant to the VIE. The WFOE was the primary beneficiary of the VIE through October 2019 and the Company has replaced the WFOE as the primary beneficiary of the VIE since October 2019. Based on the above, the Company consolidates the VIE in accordance with SEC Regulation S-X-3A-02 810-10 810-10”), Consolidation: Overall The following table sets forth the assets and liabilities of the VIE and subsidiaries of the VIE included in the Group’s unaudited interim condensed consolidated balance sheet: As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Cash and cash equivalents 185,850 332,367 49,621 Restricted cash — 2,892 432 Accounts receivable (net of allowances of RMB38,922 and RMB44,566 (US$6,654) as of December 31, 2021 and June 30, 2022, respectively) 92,197 100,960 15,072 Contract assets 42,391 44,593 6,657 Inter-company receivables* 75,560 214,874 32,080 Inventories 119,257 120,952 18,058 Prepayments and other current assets 40,957 17,388 2,596 Total current assets 556,212 834,026 124,516 Property and equipment, net 42,623 58,285 8,702 Intangible assets, net 633 375 56 Other non-current 8,346 10,227 1,527 Operating right-of-use 51,630 41,875 6,252 Total non-current 103,232 110,762 16,537 TOTAL ASSETS 659,444 944,788 141,053 Accounts payable 27,102 19,925 2,975 Deferred revenue 133,489 163,095 24,349 Inter-company payables* 897,633 1,397,180 208,593 Accrued liabilities and other current liabilities 89,976 62,557 9,339 Customer deposits 972 484 72 Short-term borrowing 2,370 2,370 354 Current portion of operating lease liabilities 25,692 26,681 3,983 Total current liabilities 1,177,234 1,672,292 249,665 Deferred government grant Other non-current 8,563 24,034 3,588 Non-current 29,669 17,862 2,667 Total non-current 38,232 41,896 6,255 TOTAL LIABILITIES 1,215,466 1,714,188 255,920 * Inter-company receivables/payables represent balances of the VIE and subsidiaries of the VIE due from/to the Company and the Group’s consolidated subsidiaries. As of December 31, 2021, and June 30, 2022, there were no pledges or collateralization of the VIE and VIE’s subsidiaries’ assets that can only be used to settle obligations of the VIE and VIEs’ subsidiaries. The amounts of the net liabilities of the VIE and subsidiaries of the VIE were RMB556,022 and RMB769,398 (US$114,871) as of December 31, 2021, and June 30, 2022, respectively. The creditors of the VIE and subsidiaries of the VIE’s third-party liabilities did not have recourse to the general credit of the primary beneficiary in the normal course of business. The VIE holds certain assets, including detection equipment and related equipment for use in their operations. The Company did not provide nor intend to provide additional financial or other support not previously contractually required to the VIE and subsidiaries of the VIE during the periods presented. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission regarding financial reporting that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2021. Accordingly, these unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. The unaudited interim condensed financial statements have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 and, in the opinion of management, reflect all normal recurring adjustments, necessary to present a fair statement of the results for the interim periods presented. Results of the operations for the six months ended June 30, 2022 are not necessarily indicative of the results expected for the full fiscal year or for any future annual or interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2021. The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. Convenience translation Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB 6.6981 per US$ 1.00 Use of estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affected the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Areas where management uses subjective judgment include, but are not limited to, allowance for credit losses, inventory provision, standalone selling prices of performance obligations, the useful lives and impairment of long-lived assets, breakage income and incremental borrowing rates for lease liabilities. Management bases its estimates on historical experience and on assumptions that it believes are reasonable. Actual results could differ materially from those estimates. Accounts receivable, contract assets and allowance for credit losses The Group records the allowance for credit losses as an offset to accounts receivable and contract assets, with estimated credit losses charged to “General and administrative expenses” in the condensed consolidated statements of comprehensive loss. The Group assesses credit loss by reviewing accounts receivable and contract assets on a collective basis where similar characteristics exist, primarily based on similar business segments, service or product offerings and on an individual basis when the Group identifies specific customers with known disputes or collectability issues. The Group applies a migration roll rate method that considers historical collectability based on past due status, the age of the accounts receivable and contract asset balances, credit quality of the Group’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions and other factors that may affect the Group’s ability to collect from customers. The Group writes off accounts receivable and contract assets are deemed uncollectible when after all collection efforts have ceased. Contract liabilities The Group records a contract liability, which is presented as “deferred revenue” on the consolidated balance sheets when a customer pays consideration before the Group provides products or services. Deferred revenue increased RMB20,222 (US$3,019) compared to the year ended December 31, 2021 is a result of the increase in consideration received from the Group’s customers. The Group receives payments from customers based on a billing schedule as established in contracts. Revenue recognized that was included in deferred revenue balance at the beginning of the period was RMB18,845 and RMB14,101 The transaction prices allocated to the remaining performance obligations (unsatisfied or partially satisfied) as of December 31, 2021 and June 30, 2022 were RMB199,354 and RMB 356,887(US$53,282), respectively. RMB203,955 (US$30,450) of transaction prices allocated to the remaining performance obligations which are expected to be recognized as revenue after one year are related to pharma research and development services. All the other amounts of transaction prices allocated to the remaining performance obligations are expected to be recognized as revenue within one year. The amounts disclosed above do not include variable consideration which is constrained. Significant accounting policies For a more complete discussion of the Company’s significant accounting policies and other information, the unaudited interim condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report (Form 20-F) for the year ended December 31, 2021. There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2022, as compared to the significant accounting policies described in the Annual Report. |
Segment Reporting
Segment Reporting | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting | 3 SEGMENT REPORTING The Group had three operating segments, including the central laboratory business, the in-hospital six-months in-hospital Summarized information by segments for the six months ended June 30, 2022 and 2021 is as follows: For the six months ended June 30,2021 For the six months ended June 30,2022 Central In-hospital Pharma Total Central In-hospital Pharma Total RMB RMB RMB RMB RMB RMB RMB RMB US$ (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Revenues from services 154,560 8 9,846 164,414 152,808 2,345 30,428 185,581 27,707 Revenues from sales of products — 69,488 — 69,488 — 80,789 — 80,789 12,061 Total revenues 154,560 69,496 9,846 233,902 152,808 83,134 30,428 266,370 39,768 Cost of revenues (40,667 ) (20,000 ) (6,064 ) (66,731 ) (44,659 ) (29,726 ) (21,803 ) (96,188 ) (14,361 ) Gross profit 113,893 49,496 3,782 167,171 108,149 53,408 8,625 170,182 25,407 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 4 FAIR VALUE MEASUREMENTS The Group applies ASC 820, Fair Value Measurements and Disclosures Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Includes other inputs that are directly or indirectly observable in the marketplace. Level 3—Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach; and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The carrying amounts of cash and cash equivalent, restricted cash, short-term investments, accounts receivable, amounts due from and due to related parties, accounts payable and short-term borrowings approximate their fair values because of their generally short maturities. The carrying amounts of long-term borrowings and lease liabilities approximate their fair values since they bear interest at rates which approximate market interest rates. The Group did not transfer any assets or liabilities in or out of Level 3 during the six months ended June 30, 2021 and 2022. As of December 31, 2021 and June 30, 2022, there was no warrants outstanding. Therefore, there was no asset or liability measured at fair value using Level 3 unobservable inputs on a recurring basis as of December 31, 2021 and June 30, 2022. There were no financial assets and liabilities measured and recorded at fair value on a non-recurring |
Accounts Receivable, Net
Accounts Receivable, Net | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
ACCOUNTS RECEIVABLE, NET | 5 ACCOUNTS RECEIVABLE, NET As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Accounts receivable 131,363 145,783 21,765 Allowance for credit losses (39,166 ) (44,823 ) (6,692 ) 92,197 100,960 15,073 The changes in the allowance for credit losses were as follows: For the six months ended June 30 2021 2022 RMB RMB US$ (unaudited) (unaudited) Balance at beginning of the period 24,215 39,166 5,847 Adoption of ASC 326 11,358 — — Provisions (937 ) 5,657 845 Balance at end of the period 34,636 44,823 6,692 |
Contract Assets
Contract Assets | 6 Months Ended |
Jun. 30, 2022 | |
Contract with Customer, Asset, after Allowance for Credit Loss, Current [Abstract] | |
CONTRACT ASSETS | 6 CONTRACT ASSETS As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Contract assets 56,869 70,186 10,478 Allowance for credit losses (14,478 ) (25,593 ) (3,821 ) 42,391 44,593 6,657 The changes in the allowance for credit losses were as follows: For the six months ended June 30 2021 2022 RMB RMB US$ (unaudited) Balance at beginning of the period 3,497 14,478 2,162 Adoption of ASC 326 2,383 — — Provisions 4,088 11,115 1,659 Balance at end of the period 9,968 25,593 3,821 |
Inventories, Net
Inventories, Net | 6 Months Ended |
Jun. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories, Net | 7 INVENTORIES, NET As of December 31, 2021 June 30, 2022 RMB RMB US$ (unaudited) Raw materials 82,455 90,957 13,580 Work in progress 7,902 10,220 1,526 Finished goods 35,481 38,095 5,687 Inventory provision (2,628 ) (9,635 ) (1,438 ) 123,210 129,637 19,355 |
Prepayments And Other Current A
Prepayments And Other Current Assets | 6 Months Ended |
Jun. 30, 2022 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepayments And Other Current Assets | 8 PREPAYMENTS AND OTHER CURRENT ASSETS As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Deductible input VAT 23,232 17,828 2,663 Prepayments 30,695 10,746 1,605 Advance to employees — 1,673 250 Deposits 1,874 2,158 322 Interest receivables 111 405 60 Employee loan (i) 3,500 — — Others (ii) 867 2,035 305 60,279 34,845 5,205 (i) On March 16, 2021 the Group extended a loan to an employee with principal amount of RMB3,500 (US$523) at simple annual interest rate of 3.08%. The loan was repaid in February (ii) Certain financial assets included in others, net of the allowance for credit losses of RMB95 and nil as of December 31, 2021 and June 30, 2022, respectively. Cumulative effect of adopting ASC 326 on January 1, 2021 . Reversal of provision and RMB95 |
Property And Equipment, Net
Property And Equipment, Net | 6 Months Ended |
Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property And Equipment, Net | 9 PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following: As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Machinery and laboratory equipment 231,289 246,389 36,785 Vehicles 2,812 2,808 419 Furniture and tools 15,723 16,756 2,502 Electronic equipment 48,068 49,937 7,455 Leasehold improvements 161,037 161,691 24,140 Construction in progress 27,555 40,062 5,981 486,484 517,643 77,282 Accumulated depreciation (161,046 ) (216,394 ) (32,307 ) 325,438 301,249 44,975 Depreciation expenses recognized for the six months ended June 30, 2021 and 2022 were RMB20,614 , |
Equity Forward
Equity Forward | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
Equity Forward | 10 EQUITY FORWARD On June 21, 2022, the Company’s board of directors authorized a share repurchase plan under which the Company may repurchase up to US$10,000 its Class A ordinary shares in the form of its ADS during a 12-month period (the “Share Repurchase Program”). The Company entered an accelerated share repurchase (“ASR”) agreement with Bank of America, pursuant to which it prepaid US$10,000 with the repurchase price determined by the volume-weighted average price (“VWAP”) of the Company’s ADS over the term of the ASR. The settlement date of this contract was August 23, 2022. The Company evaluated and concluded the ASR agreement was an equity classified forward contract pursuant to ASC 815-40-25-10 and recognized the contract notional amount as contra-equity in the statement of changes in shareholder equity for the six months ended June 30, 2022 |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Share-Based Compensation | 1 1 SHARE-BASED COMPENSATION Total share-based compensation expenses recognized for the six months ended June 30, 2021 and 2022 were as follows: For the six months ended June 30, 2021 2022 RMB RMB US$ (unaudited) (unaudited) Cost of revenues 745 806 120 Research and development expenses 43,230 24,222 3,616 Selling and marketing expenses 5,442 3,932 587 General and administrative expenses 118,750 128,330 19,159 168,167 157,290 23,483 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12 INCOME TAXES For interim income tax reporting, the Group computed an estimate annual effective tax rate (“EAETR”) and apply it to year-to-date year-to-date loss for which a tax benefit cannot be realized are excluded . The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Group recorded income tax expenses of (US$13) , representing effective tax rate of for the for the % for qualified high-tech enterprise and the effective tax rate for the R&D deduction netted with nondeductible entertainment expense and stock compensation expense . As of June 30, 2022, there was no significant impact from tax uncertainties on the Group’s unaudited interim condensed consolidated financial statements. The Group did not record any interest and penalties related to an uncertain tax position for the six months ended June 30, 2021 and 2022. The Group does not expect the amount of unrecognized tax benefits would increase significantly in the next 12 months. In general, the PRC tax authorities have up to five years to conduct examinations of the tax filings of the Company’s PRC subsidiaries, the VIE and the VIE’s subsidiaries. Accordingly, the PRC tax filings from 2017 through 2021 remain open to examination by the respective tax authorities. The Group may also be subject to the examinations of the tax filings in other jurisdictions, which are not material to the consolidated financial statements. |
Loss Per Share
Loss Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Loss Per Share | 1 3 LOSS PER SHARE Basic and diluted loss per share for the six months ended June 30, 2021 and 2022 are calculated as follows: For the six months ended June 30, 2021 2022 Class A Class B Class A Class B RMB RMB RMB US$ RMB US$ (unaudited) (unaudited) Numerator: Net loss attributable to ordinary shareholders (312,635 ) (62,441 ) (436,882 ) (65,227 ) (86,643 ) (12,936 ) Denominator: Weighted-average number of ordinary shares outstanding 87,470,332 17,324,848 87,909,137 87,909,137 17,324,848 17,324,848 Effect of unvested restricted shares (727,452 ) — (552,017 ) (552,017 ) — — Weighted average number of ordinary shares outstanding – basic and diluted 86,742,880 17,324,848 87,357,120 87,357,120 17,324,848 17,324,848 Loss per share - basic and diluted (3.60 ) (3.60 ) (4.98 ) (0.74 ) (4.98 ) (0.74 ) For the six months ended June 30, 2021 and 2022, the two-class |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 1 4 RELATED PARTY TRANSACTIONS a) Related parties Name of related parties Relationship Yusheng Han Shareholder of the shareholder of the Company, Chief Executive Officer and director Shaokun Chuai Shareholder of the shareholder of the Company, Chief Operating Officer and director EaSuMed Holding Ltd. Equity method investee Guangzhou Burning Rock Biological Engineering Co., Ltd. Company controlled by the Founder b) The Group had the following related party balance at the end of the periods: As of December 31, June 30, 2022 RMB RMB US$ (unaudited) EaSuMed Holding Ltd. 212 — — Total amounts due from related parties 212 — — All the balances with a related party as of December 31, 2021 were unsecured. All outstanding balances are repayable on demand unless otherwise disclosed. No allowance for credit losses was recognized for the amounts due from related parties for the six months ended June 30, 2021 and 2022. c) The Group had the following related party transactions: For the six months ended June 30, 2021 2022 RMB RMB US$ (unaudited) (unaudited) Consulting service EaSuMed Holding Ltd. 475 94 14 Rental income from: Guangzhou Burning Rock Biological Engineering Co., Ltd.(i) 97 — — Equipment usage Guangzhou Burning Rock Biological Engineering Co., Ltd.(ii) 237 — — (i) On April 1, 2021, the Group entered into a one-year with and recorded RMB 97 in other income for the six month ended June 30, 2021. The lease was early terminated on September 30, 2021 (ii) On April 1, 2021, the Group entered into a contract to provide equipment usage service to its related party with a total contact amount of RMB997, of which RMB237 was recorded in other income for the six month ended June 30, The contract was early terminated on September 30, 2021. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 1 5 COMMITMENTS AND CONTINGENCIES Capital expenditure commitments The Group has capital expenditure commitments for the laboratory leasehold improvements of RMB6,520 (US$973) as of June 30, 2022, which are scheduled to be paid within one year. Contingencies The Group is currently not involved in any legal or administrative proceedings that may have a material adverse impact on the Group’s business, financial position or results of operations. |
Restricted Net Assets
Restricted Net Assets | 6 Months Ended |
Jun. 30, 2022 | |
Restricted Net Assets [Abstract] | |
Restricted Net Assets | 1 6 RESTRICTED NET ASSETS Under the PRC laws and regulations, there are restrictions on the Company’s PRC subsidiaries and the VIE with respect to transferring certain of their net assets to the Company either in the form of dividends, loans, or advances. The Company’s restricted net assets from its PRC subsidiaries, the VIE and VIE’s subsidiaries, as determined pursuant to PRC GAAP, were RMB382,724 and RMB344,331 (US$51,407) as of December 31, 2021 and June 30, 2022, respectively. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 17 SUBSEQUENT EVENTS On August 23, 2022, the Company repurchased a total of 3,023,138 Class A ordinary shares in the form of ADSs upon settlement of the ASR program. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission regarding financial reporting that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2021. Accordingly, these unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. The unaudited interim condensed financial statements have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2021 and, in the opinion of management, reflect all normal recurring adjustments, necessary to present a fair statement of the results for the interim periods presented. Results of the operations for the six months ended June 30, 2022 are not necessarily indicative of the results expected for the full fiscal year or for any future annual or interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2021. The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. |
Convenience translation | Convenience translation Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB 6.6981 per US$ 1.00 |
Use of estimates | Use of estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affected the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Areas where management uses subjective judgment include, but are not limited to, allowance for credit losses, inventory provision, standalone selling prices of performance obligations, the useful lives and impairment of long-lived assets, breakage income and incremental borrowing rates for lease liabilities. Management bases its estimates on historical experience and on assumptions that it believes are reasonable. Actual results could differ materially from those estimates. |
Accounts receivable, contract assets and allowance for credit losses | Accounts receivable, contract assets and allowance for credit losses The Group records the allowance for credit losses as an offset to accounts receivable and contract assets, with estimated credit losses charged to “General and administrative expenses” in the condensed consolidated statements of comprehensive loss. The Group assesses credit loss by reviewing accounts receivable and contract assets on a collective basis where similar characteristics exist, primarily based on similar business segments, service or product offerings and on an individual basis when the Group identifies specific customers with known disputes or collectability issues. The Group applies a migration roll rate method that considers historical collectability based on past due status, the age of the accounts receivable and contract asset balances, credit quality of the Group’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions and other factors that may affect the Group’s ability to collect from customers. The Group writes off accounts receivable and contract assets are deemed uncollectible when after all collection efforts have ceased. |
Contract liabilities | Contract liabilities The Group records a contract liability, which is presented as “deferred revenue” on the consolidated balance sheets when a customer pays consideration before the Group provides products or services. Deferred revenue increased RMB20,222 (US$3,019) compared to the year ended December 31, 2021 is a result of the increase in consideration received from the Group’s customers. The Group receives payments from customers based on a billing schedule as established in contracts. Revenue recognized that was included in deferred revenue balance at the beginning of the period was RMB18,845 and RMB14,101 The transaction prices allocated to the remaining performance obligations (unsatisfied or partially satisfied) as of December 31, 2021 and June 30, 2022 were RMB199,354 and RMB 356,887(US$53,282), respectively. RMB203,955 (US$30,450) of transaction prices allocated to the remaining performance obligations which are expected to be recognized as revenue after one year are related to pharma research and development services. All the other amounts of transaction prices allocated to the remaining performance obligations are expected to be recognized as revenue within one year. The amounts disclosed above do not include variable consideration which is constrained. |
Organization (Tables)
Organization (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of financial information of VIE and VIE's subsidiaries | The following table sets forth the assets and liabilities of the VIE and subsidiaries of the VIE included in the Group’s unaudited interim condensed consolidated balance sheet: As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Cash and cash equivalents 185,850 332,367 49,621 Restricted cash — 2,892 432 Accounts receivable (net of allowances of RMB38,922 and RMB44,566 (US$6,654) as of December 31, 2021 and June 30, 2022, respectively) 92,197 100,960 15,072 Contract assets 42,391 44,593 6,657 Inter-company receivables* 75,560 214,874 32,080 Inventories 119,257 120,952 18,058 Prepayments and other current assets 40,957 17,388 2,596 Total current assets 556,212 834,026 124,516 Property and equipment, net 42,623 58,285 8,702 Intangible assets, net 633 375 56 Other non-current 8,346 10,227 1,527 Operating right-of-use 51,630 41,875 6,252 Total non-current 103,232 110,762 16,537 TOTAL ASSETS 659,444 944,788 141,053 Accounts payable 27,102 19,925 2,975 Deferred revenue 133,489 163,095 24,349 Inter-company payables* 897,633 1,397,180 208,593 Accrued liabilities and other current liabilities 89,976 62,557 9,339 Customer deposits 972 484 72 Short-term borrowing 2,370 2,370 354 Current portion of operating lease liabilities 25,692 26,681 3,983 Total current liabilities 1,177,234 1,672,292 249,665 Deferred government grant Other non-current 8,563 24,034 3,588 Non-current 29,669 17,862 2,667 Total non-current 38,232 41,896 6,255 TOTAL LIABILITIES 1,215,466 1,714,188 255,920 * Inter-company receivables/payables represent balances of the VIE and subsidiaries of the VIE due from/to the Company and the Group’s consolidated subsidiaries. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Segment Reporting [Abstract] | |
Summary of Segment Reporting Information | Summarized information by segments for the six months ended June 30, 2022 and 2021 is as follows: For the six months ended June 30,2021 For the six months ended June 30,2022 Central In-hospital Pharma Total Central In-hospital Pharma Total RMB RMB RMB RMB RMB RMB RMB RMB US$ (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Revenues from services 154,560 8 9,846 164,414 152,808 2,345 30,428 185,581 27,707 Revenues from sales of products — 69,488 — 69,488 — 80,789 — 80,789 12,061 Total revenues 154,560 69,496 9,846 233,902 152,808 83,134 30,428 266,370 39,768 Cost of revenues (40,667 ) (20,000 ) (6,064 ) (66,731 ) (44,659 ) (29,726 ) (21,803 ) (96,188 ) (14,361 ) Gross profit 113,893 49,496 3,782 167,171 108,149 53,408 8,625 170,182 25,407 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Receivables [Abstract] | |
Summary of Account Receivable | As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Accounts receivable 131,363 145,783 21,765 Allowance for credit losses (39,166 ) (44,823 ) (6,692 ) 92,197 100,960 15,073 |
Summary of Movement in the Allowances for Doubtful Accounts | The changes in the allowance for credit losses were as follows: For the six months ended June 30 2021 2022 RMB RMB US$ (unaudited) (unaudited) Balance at beginning of the period 24,215 39,166 5,847 Adoption of ASC 326 11,358 — — Provisions (937 ) 5,657 845 Balance at end of the period 34,636 44,823 6,692 |
Contract Assets - (Tables)
Contract Assets - (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Contract with Customer, Asset, after Allowance for Credit Loss, Current [Abstract] | |
Schedule of Contract With Customer Asset Net Current | As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Contract assets 56,869 70,186 10,478 Allowance for credit losses (14,478 ) (25,593 ) (3,821 ) 42,391 44,593 6,657 |
Schedule of provision for contract assets and allowance for credit losses | The changes in the allowance for credit losses were as follows: For the six months ended June 30 2021 2022 RMB RMB US$ (unaudited) Balance at beginning of the period 3,497 14,478 2,162 Adoption of ASC 326 2,383 — — Provisions 4,088 11,115 1,659 Balance at end of the period 9,968 25,593 3,821 |
Inventories, Net (Tables)
Inventories, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Inventory, Work in Process and Raw Materials [Abstract] | |
Summary of Inventories | As of December 31, 2021 June 30, 2022 RMB RMB US$ (unaudited) Raw materials 82,455 90,957 13,580 Work in progress 7,902 10,220 1,526 Finished goods 35,481 38,095 5,687 Inventory provision (2,628 ) (9,635 ) (1,438 ) 123,210 129,637 19,355 |
Prepayments And Other Current_2
Prepayments And Other Current Assets (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Deferred Costs Capitalized Prepaid And Other Assets [Abstract] | |
Summary of Prepayments and Other Current Assets | As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Deductible input VAT 23,232 17,828 2,663 Prepayments 30,695 10,746 1,605 Advance to employees — 1,673 250 Deposits 1,874 2,158 322 Interest receivables 111 405 60 Employee loan (i) 3,500 — — Others (ii) 867 2,035 305 60,279 34,845 5,205 (i) On March 16, 2021 the Group extended a loan to an employee with principal amount of RMB3,500 (US$523) at simple annual interest rate of 3.08%. The loan was repaid in February (ii) Certain financial assets included in others, net of the allowance for credit losses of RMB95 and nil as of December 31, 2021 and June 30, 2022, respectively. Cumulative effect of adopting ASC 326 on January 1, 2021 . Reversal of provision and RMB95 |
Property And Equipment, Net (Ta
Property And Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Summary of property and equipment | Property and equipment consist of the following: As of December 31, June 30, 2022 RMB RMB US$ (unaudited) Machinery and laboratory equipment 231,289 246,389 36,785 Vehicles 2,812 2,808 419 Furniture and tools 15,723 16,756 2,502 Electronic equipment 48,068 49,937 7,455 Leasehold improvements 161,037 161,691 24,140 Construction in progress 27,555 40,062 5,981 486,484 517,643 77,282 Accumulated depreciation (161,046 ) (216,394 ) (32,307 ) 325,438 301,249 44,975 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |
Summary of share-based compensation expenses | Total share-based compensation expenses recognized for the six months ended June 30, 2021 and 2022 were as follows: For the six months ended June 30, 2021 2022 RMB RMB US$ (unaudited) (unaudited) Cost of revenues 745 806 120 Research and development expenses 43,230 24,222 3,616 Selling and marketing expenses 5,442 3,932 587 General and administrative expenses 118,750 128,330 19,159 168,167 157,290 23,483 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Basic and diluted loss per share for the six months ended June 30, 2021 and 2022 are calculated as follows: For the six months ended June 30, 2021 2022 Class A Class B Class A Class B RMB RMB RMB US$ RMB US$ (unaudited) (unaudited) Numerator: Net loss attributable to ordinary shareholders (312,635 ) (62,441 ) (436,882 ) (65,227 ) (86,643 ) (12,936 ) Denominator: Weighted-average number of ordinary shares outstanding 87,470,332 17,324,848 87,909,137 87,909,137 17,324,848 17,324,848 Effect of unvested restricted shares (727,452 ) — (552,017 ) (552,017 ) — — Weighted average number of ordinary shares outstanding – basic and diluted 86,742,880 17,324,848 87,357,120 87,357,120 17,324,848 17,324,848 Loss per share - basic and diluted (3.60 ) (3.60 ) (4.98 ) (0.74 ) (4.98 ) (0.74 ) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Summary of Relationship With Related Party | a) Related parties Name of related parties Relationship Yusheng Han Shareholder of the shareholder of the Company, Chief Executive Officer and director Shaokun Chuai Shareholder of the shareholder of the Company, Chief Operating Officer and director EaSuMed Holding Ltd. Equity method investee Guangzhou Burning Rock Biological Engineering Co., Ltd. Company controlled by the Founder |
Summary of Related Party Balances | b) The Group had the following related party balance at the end of the periods: As of December 31, June 30, 2022 RMB RMB US$ (unaudited) EaSuMed Holding Ltd. 212 — — Total amounts due from related parties 212 — — |
Summary of Related Party Transactions | c) The Group had the following related party transactions: For the six months ended June 30, 2021 2022 RMB RMB US$ (unaudited) (unaudited) Consulting service EaSuMed Holding Ltd. 475 94 14 Rental income from: Guangzhou Burning Rock Biological Engineering Co., Ltd.(i) 97 — — Equipment usage Guangzhou Burning Rock Biological Engineering Co., Ltd.(ii) 237 — — (i) On April 1, 2021, the Group entered into a one-year with and recorded RMB 97 in other income for the six month ended June 30, 2021. The lease was early terminated on September 30, 2021 (ii) On April 1, 2021, the Group entered into a contract to provide equipment usage service to its related party with a total contact amount of RMB997, of which RMB237 was recorded in other income for the six month ended June 30, The contract was early terminated on September 30, 2021. |
Organization - Summary of Finan
Organization - Summary of Financial Information of VIE and VIE's Subsidiaries (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Jun. 30, 2021 CNY (¥) | |
Table Text Block Supplement [Abstract] | |||||
Cash and cash equivalents | ¥ 1,148,597 | $ 171,481 | ¥ 1,431,317 | ¥ 1,852,927 | |
Restricted cash | 4,453 | 665 | 7,795 | ¥ 30,338 | |
Accounts receivable (net of allowances of RMB38,922 and RMB44,566 (US$6,654) as of December 31, 2021 and June 30, 2022, respectively) | 100,960 | 15,073 | 92,197 | ||
Contract assets | 44,593 | 6,657 | 42,391 | ||
Inventories | 129,637 | 19,355 | 123,210 | ||
Prepayments and other current assets | 34,845 | 5,205 | 60,279 | ||
Total current assets | 1,463,085 | 218,436 | 1,820,946 | ||
Property and equipment, net | 301,249 | 44,975 | 325,438 | ||
Intangible assets, net | 3,354 | 500 | 5,150 | ||
Other non-current assets | 21,198 | 3,165 | 45,136 | ||
Operating right-of-use assets | 66,655 | 9,951 | 81,007 | ||
Total non-current assets | 398,189 | 59,446 | 457,641 | ||
TOTAL ASSETS | 1,861,274 | 277,882 | 2,278,587 | ||
Accounts payable | 56,495 | 8,434 | 63,080 | ||
Deferred revenue | 163,093 | 24,349 | 142,871 | ||
Customer deposits | 1,052 | 157 | 972 | ||
Short-term borrowings | 2,370 | 354 | 2,370 | ||
Current portion of operating lease liabilities | 38,005 | 5,674 | 34,999 | ||
Total current liabilities | 359,450 | 53,664 | 372,184 | ||
Other non-current liabilities | 37,242 | 4,830 | 11,776 | ||
Total non-current liabilities | 69,591 | 10,390 | 61,092 | ||
Non-current portion of operating lease liabilities | 32,349 | 5,560 | 49,316 | ||
TOTAL LIABILITIES | 429,041 | 64,054 | 433,276 | ||
VIE and VIE's subsidiaries | |||||
Table Text Block Supplement [Abstract] | |||||
Cash and cash equivalents | 332,367 | 49,621 | 185,850 | ||
Restricted cash | 2,892 | 432 | 0 | ||
Accounts receivable (net of allowances of RMB38,922 and RMB44,566 (US$6,654) as of December 31, 2021 and June 30, 2022, respectively) | 100,960 | 15,072 | 92,197 | ||
Contract assets | 44,593 | 6,657 | 42,391 | ||
Inter-company receivables | [1] | 214,874 | 32,080 | 75,560 | |
Inventories | 120,952 | 18,058 | 119,257 | ||
Prepayments and other current assets | 17,388 | 2,596 | 40,957 | ||
Total current assets | 834,026 | 124,516 | 556,212 | ||
Property and equipment, net | 58,285 | 8,702 | 42,623 | ||
Intangible assets, net | 375 | 56 | 633 | ||
Other non-current assets | 10,227 | 1,527 | 8,346 | ||
Operating right-of-use assets | 41,875 | 6,252 | 51,630 | ||
Total non-current assets | 110,762 | 16,537 | 103,232 | ||
TOTAL ASSETS | 944,788 | 141,053 | 659,444 | ||
Accounts payable | 19,925 | 2,975 | 27,102 | ||
Deferred revenue | 163,095 | 24,349 | 133,489 | ||
Inter-company payables | [1] | 1,397,180 | 208,593 | 897,633 | |
Accrued liabilities and other current liabilities | 62,557 | 9,339 | 89,976 | ||
Customer deposits | 484 | 72 | 972 | ||
Short-term borrowings | 2,370 | 354 | 2,370 | ||
Current portion of operating lease liabilities | 26,681 | 3,983 | 25,692 | ||
Total current liabilities | 1,672,292 | 249,665 | 1,177,234 | ||
Other non-current liabilities | 24,034 | 3,588 | 8,563 | ||
Total non-current liabilities | 41,896 | 6,255 | 38,232 | ||
Non-current portion of operating lease liabilities | 17,862 | 2,667 | 29,669 | ||
TOTAL LIABILITIES | ¥ 1,714,188 | $ 255,920 | ¥ 1,215,466 | ||
[1]Inter-company receivables/payables represent balances of the VIE and subsidiaries of the VIE due from/to the Company and the Group’s consolidated subsidiaries. |
Organization - Summary of Fin_2
Organization - Summary of Financial Information of VIE and VIE's Subsidiaries (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Table Text Block Supplement [Abstract] | |||
Accounts Receivable, Allowance | ¥ 44,823 | $ 6,692 | ¥ 39,166 |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Table Text Block Supplement [Abstract] | |||
Accounts Receivable, Allowance | ¥ 44,566 | $ 6,654 | ¥ 38,922 |
Organization - Additional Infor
Organization - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
VIEs And Subsidiaries Of VIEs [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Net Liabilities | ¥ 769,398 | $ 114,871 | ¥ 556,022 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Convenience translation rate | 6.6981 | 6.6981 | |||
Increase decrease in deferred revenue | ¥ 20,222 | $ 3,019 | ¥ 27,115 | ||
Deferred revenue recognized | 14,101 | $ 2,105 | ¥ 18,845 | ||
Remaining performance obligation | 356,887 | $ 53,282 | ¥ 199,354 | ||
After One Year [Member] | |||||
Remaining performance obligation | ¥ 203,955 | $ 30,450 |
Segment Reporting - Summary of
Segment Reporting - Summary of Segment Reporting Information (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Revenues: | |||
Revenues from services | ¥ 185,581 | $ 27,707 | ¥ 164,414 |
Revenues from sales of products | 80,789 | 12,061 | 69,488 |
Total revenues | 266,370 | 39,768 | 233,902 |
Cost of revenues: | (96,188) | (14,361) | (66,731) |
Gross profit | 170,182 | $ 25,407 | 167,171 |
Central laboratory business | |||
Revenues: | |||
Revenues from services | 152,808 | 154,560 | |
Revenues from sales of products | 0 | 0 | |
Total revenues | 152,808 | 154,560 | |
Cost of revenues: | (44,659) | (40,667) | |
Gross profit | 108,149 | 113,893 | |
In-hospital business | |||
Revenues: | |||
Revenues from services | 2,345 | 8 | |
Revenues from sales of products | 80,789 | 69,488 | |
Total revenues | 83,134 | 69,496 | |
Cost of revenues: | (29,726) | (20,000) | |
Gross profit | 53,408 | 49,496 | |
Pharma research and development services | |||
Revenues: | |||
Revenues from services | 30,428 | 9,846 | |
Revenues from sales of products | 0 | 0 | |
Total revenues | 30,428 | 9,846 | |
Cost of revenues: | (21,803) | (6,064) | |
Gross profit | ¥ 8,625 | ¥ 3,782 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - Fair Value, Recurring [Member] - CNY (¥) ¥ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Warrant liability | ¥ 0 | ¥ 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure | ¥ 0 | ¥ 0 |
Accounts Receivable, Net - Summ
Accounts Receivable, Net - Summary of Account Receivable (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Receivables [Abstract] | |||
Accounts receivable | ¥ 145,783 | $ 21,765 | ¥ 131,363 |
Allowance for credit losses | (44,823) | (6,692) | (39,166) |
Accounts Receivable, Net | ¥ 100,960 | $ 15,073 | ¥ 92,197 |
Accounts Receivable, Net - Su_2
Accounts Receivable, Net - Summary of Movement in the Allowances for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Accounts Receivable Allowance For Credit Loss [Line Items] | |||
Balance at beginning of the period | ¥ 39,166 | $ 5,847 | ¥ 24,215 |
Provisions | 5,657 | 845 | (937) |
Balance at end of the period | 44,823 | 6,692 | 34,636 |
Accounting Standards Update 2016-13 [Member] | |||
Accounts Receivable Allowance For Credit Loss [Line Items] | |||
Adoption of ASC 326 | ¥ 0 | $ 0 | ¥ 11,358 |
Contract Assets - Schedule of C
Contract Assets - Schedule of Contract With Customer Asset Net Current (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) |
Contract with Customer, Asset, after Allowance for Credit Loss, Current [Abstract] | ||||||
Contract assets | ¥ 70,186 | $ 10,478 | ¥ 56,869 | |||
Allowance for credit losses | (25,593) | (3,821) | (14,478) | $ (2,162) | ¥ (9,968) | ¥ (3,497) |
Total | ¥ 44,593 | $ 6,657 | ¥ 42,391 |
Contract Assets - Schedule of p
Contract Assets - Schedule of provision for contract assets and allowance for credit losses (Details) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Schedule of provision for contract assets and allowance for credit losses [Line Items] | |||
Balance at beginning of the period | ¥ 14,478 | $ 2,162 | ¥ 3,497 |
Provisions | 11,115 | 1,659 | 4,088 |
Balance at end of the period | 25,593 | 3,821 | 9,968 |
Accounting Standards Update 2016-13 [Member] | |||
Schedule of provision for contract assets and allowance for credit losses [Line Items] | |||
Adoption of ASC 326 | ¥ 0 | $ 0 | ¥ 2,383 |
Inventories, Net - Summary of I
Inventories, Net - Summary of Inventories (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Inventory, Work in Process and Raw Materials [Abstract] | |||
Raw materials | ¥ 90,957 | $ 13,580 | ¥ 82,455 |
Work in progress | 10,220 | 1,526 | 7,902 |
Finished goods | 38,095 | 5,687 | 35,481 |
Inventory provision | (9,635) | (1,438) | (2,628) |
Inventory, Net | ¥ 129,637 | $ 19,355 | ¥ 123,210 |
Prepayments And Other Current_3
Prepayments And Other Current Assets - Summary of Prepayments And Other Current Assets (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Deferred Costs Capitalized Prepaid And Other Assets [Abstract] | |||
Deductible input VAT | ¥ 17,828 | $ 2,663 | ¥ 23,232 |
Prepayments | 10,746 | 1,605 | 30,695 |
Advance to employees | 1,673 | 250 | 0 |
Deposits | 2,158 | 322 | 1,874 |
Interest receivables | 405 | 60 | 111 |
Employee loan (i) | 0 | 0 | 3,500 |
Others | 2,035 | 305 | 867 |
Prepayments and other Current Asset | ¥ 34,845 | $ 5,205 | ¥ 60,279 |
Prepayments And Other Current_4
Prepayments And Other Current Assets - Summary of Prepayments And Other Current Assets (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | |||||||
Mar. 16, 2021 CNY (¥) | Jan. 01, 2021 CNY (¥) | Jan. 01, 2021 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | Dec. 31, 2021 CNY (¥) | Mar. 16, 2021 USD ($) | |
Deferred Costs Capitalized Prepaid And Other Assets [Line Items] | ||||||||
Principal amount of loan to an employee | ¥ 3,500 | $ 523 | ||||||
Annual interest rate | 3.08% | |||||||
Allowance for credit losses on other current assets | ¥ 95 | |||||||
Reversal Of Provision | ¥ 95 | $ 14 | ||||||
Allowance For Doubtful Accounts Other Receivable Write Offs | ¥ 97 | |||||||
Accounting Standards Update [Member] | ||||||||
Deferred Costs Capitalized Prepaid And Other Assets [Line Items] | ||||||||
Cumulative effect of adopting accounting standard update on the opening balnace of other current assets | ¥ 115 | $ 17 |
Property And Equipment, Net - S
Property And Equipment, Net - Summary of Property And Equipment Consist of The Following (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | ¥ 517,643 | $ 77,282 | ¥ 486,484 |
Accumulated depreciation | (216,394) | (32,307) | (161,046) |
Property, Plant and Equipment, Net | 301,249 | 44,975 | 325,438 |
Machinery And Laboratory Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 246,389 | 36,785 | 231,289 |
Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 2,808 | 419 | 2,812 |
Furniture And Tools [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 16,756 | 2,502 | 15,723 |
Electronic Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 49,937 | 7,455 | 48,068 |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 161,691 | 24,140 | 161,037 |
Construction In Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | ¥ 40,062 | $ 5,981 | ¥ 27,555 |
Property And Equipment, Net - A
Property And Equipment, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Depreciation | ¥ 57,953 | $ 8,652 | ¥ 20,614 |
Equity Forward - Additional Inf
Equity Forward - Additional Information (Detail) $ in Thousands | Jun. 21, 2022 USD ($) |
Equity [Abstract] | |
Stock repurchase program, authorized amount | $ 10,000 |
Stock repurchase program, period in force | 12 months |
Accelerated share repurchases, settlement payment or receipt | $ 10,000 |
Accelerated share repurchase program, settlement date | Aug. 23, 2022 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Share-Based Compensation Expenses (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share-based Payment Arrangement, Expense | ¥ 157,290 | $ 23,483 | ¥ 168,167 |
Cost of Revenues [Member] | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share-based Payment Arrangement, Expense | 806 | 120 | 745 |
Research and Development Expenses [Member] | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share-based Payment Arrangement, Expense | 24,222 | 3,616 | 43,230 |
Selling and Marketing Expenses [Member] | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share-based Payment Arrangement, Expense | 3,932 | 587 | 5,442 |
General and Administrative Expenses [Member] | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Share-based Payment Arrangement, Expense | ¥ 128,330 | $ 19,159 | ¥ 118,750 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Income tax rate | 15% | 15% | |
Unrecognized Tax Benefits | ¥ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | ¥ 0 | |
Income Tax Expense (Benefit) | ¥ 84 | $ 13 | ¥ 1,626 |
Effective Income Tax Rate Reconciliation, Percent | 0% | 0% | |
CHINA | |||
Operating Loss Carryforwards, Expiration Term | 5 years | 5 years |
Loss Per Share - Schedule of E
Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 CNY (¥) ¥ / shares shares | Jun. 30, 2022 USD ($) $ / shares shares | Jun. 30, 2021 CNY (¥) ¥ / shares shares | |
Common Class A [Member] | |||
Denominator: | |||
Weighted average shares outstanding used in loss per share - basic | 87,357,120 | 87,357,120 | 86,742,880 |
Weighted average shares outstanding used in loss per share - diluted | 87,357,120 | 87,357,120 | 86,742,880 |
Loss per share - basic | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Loss per share - diluted | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Common Class B [Member] | |||
Denominator: | |||
Weighted average shares outstanding used in loss per share - basic | 17,324,848 | 17,324,848 | 17,324,848 |
Weighted average shares outstanding used in loss per share - diluted | 17,324,848 | 17,324,848 | 17,324,848 |
Loss per share - basic | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Loss per share - diluted | (per share) | ¥ (4.98) | $ (0.74) | ¥ (3.6) |
Common Stock | Common Class A [Member] | |||
Numerator: | |||
Net loss attributable to ordinary shareholders | ¥ (436,882) | $ (65,227) | ¥ (312,635) |
Denominator: | |||
Weighted-average number of ordinary shares outstanding | 87,909,137 | 87,909,137 | 87,470,332 |
Effect of unvested restricted shares | (552,017) | (552,017) | (727,452) |
Common Stock | Common Class B [Member] | |||
Numerator: | |||
Net loss attributable to ordinary shareholders | ¥ (86,643) | $ (12,936) | ¥ (62,441) |
Denominator: | |||
Weighted-average number of ordinary shares outstanding | 17,324,848 | 17,324,848 | 17,324,848 |
Effect of unvested restricted shares | 0 | 0 | 0 |
Related Party Transactions - Su
Related Party Transactions - Summary of Relationship With Related Party (Detail) | 6 Months Ended |
Jun. 30, 2022 | |
Yusheng Han | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Shareholder of the shareholder of the Company, Chief Executive Officer and director |
Shaokun Chuai | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Shareholder of the shareholder of the Company, Chief Operating Officer and director |
EaSuMed Holding Ltd [Member] | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Equity method investee |
Guangzhou Burning Rock Biological Engineering Co., Ltd. | |
Related Party Transaction [Line Items] | |
Nature of Common Ownership or Management Control Relationships | Company controlled by the Founder |
Related Party Transactions - _2
Related Party Transactions - Summary of Related Party Balances (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Amount due from a related party: | |||
Amounts due from related parties | ¥ 0 | $ 0 | ¥ 212 |
EaSuMed Holding Ltd [Member] | |||
Amount due from a related party: | |||
Amounts due from related parties | ¥ 0 | $ 0 | ¥ 212 |
Related Party Transactions - _3
Related Party Transactions - Summary of Related Party Transactions (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | |||
Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | ||
Related Party Transaction [Line Items] | ||||
Rental income from: | ¥ 334 | |||
EaSuMed Holding Ltd [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consulting service received from: | ¥ 94 | $ 14 | 475 | |
Guangzhou Burning Rock Biological Engineering Co., Ltd | ||||
Related Party Transaction [Line Items] | ||||
Rental income from: | [1] | 97 | ||
Equipment usage service income from: | [2] | ¥ 237 | ||
[1]On April 1, 2021, the Group entered into a one-year sublease agreement on its office with a related party and recorded RMB97 in other income for the six month ended June 30, 2021. The lease was early terminated on September 30, 2021.[2]On April 1, 2021, the Group entered into a contract to provide equipment usage service to its related party with a total contact amount of RMB997, of which RMB237 was recorded in other income for the six month ended June 30, 2021. The contract was early terminated on September 30, 2021. |
Related Party Transactions - _4
Related Party Transactions - Summary of Related Party Transactions (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | 6 Months Ended | |||
Apr. 01, 2021 CNY (¥) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 CNY (¥) | |
Related Party Transaction [Line Items] | ||||
Other income related party | ¥ 425 | $ 63 | ¥ 551 | |
Guangzhou Burning Rock Biological Engineering Co., Ltd | ||||
Related Party Transaction [Line Items] | ||||
Total Contract Amount of Equipment Usage Service Related Party | ¥ 997 | |||
Other income related party | ¥ 237 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) ¥ in Thousands | Apr. 01, 2021 CNY (¥) |
Guangzhou Burning Rock Biological Engineering Co Ltd. [Member] | Office Sublease Agreement [Member] | |
Sublease Income | ¥ 97 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - 6 months ended Jun. 30, 2022 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Capital Addition [Member] | Leasehold Improvements [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Capital expenditure commitment | ¥ 6,520 | $ 973 |
Restricted Net Assets - Additio
Restricted Net Assets - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Jun. 30, 2022 CNY (¥) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
PRC Subsidiaries [Member] | |||
Restricted Net Assets [Line Items] | |||
Restricted net assets | ¥ 382,724 | ||
VIE And VIE Subsidiaries [Member] | |||
Restricted Net Assets [Line Items] | |||
Restricted net assets | ¥ 344,331 | $ 51,407 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Aug. 23, 2022 shares |
Subsequent event [Member] | Accelerated share repurchase program [Member] | Class A common shares in the form of ADS [Member] | |
Subsequent Event [Line Items] | |
Stock repurchased during period, Shares | 3,023,138 |