0001193125-22-127960 | 20-F | XBRL Viewer

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Cover Page	12 Months Ended
Cover Page	Dec. 31, 2021 shares
Document Information [Line Items]
Entity Registrant Name	KANZHUN LIMITED
Entity Central Index Key	0001842827
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-40460
Entity Incorporation, State or Country Code	E9
Entity Ex Transition Period	false
Entity Address, Address Line One	18/F, GrandyVic Building
Entity Address, Address Line Two	Taiyanggong Middle Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Postal Zip Code	100020
ICFR Auditor Attestation Flag	false
Document Accounting Standard	U.S. GAAP
Entity Address, Country	CN
Auditor Name	PricewaterhouseCoopers Zhong Tian LLP
Auditor Firm ID	1424
Auditor Location	the People’s Republic of China
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Yu Zhang
Entity Address, Address Line One	18/F, GrandyVic Building
Entity Address, Address Line Two	Taiyanggong Middle Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Postal Zip Code	100020
City Area Code	86
Local Phone Number	10-8462-8340
Entity Address, Country	CN
Contact Personnel Email Address	ir@kanzhun.com
American Depositary Shares [Member]
Document Information [Line Items]
Title of 12(b) Security	American depositary shares (each ADS represents two of our Class A ordinary shares, par value US$0.0001 per share)
Trading Symbol	BZ
Security Exchange Name	NASDAQ
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	727,855,233
Title of 12(b) Security	Class A Ordinary Shares, par value US$0.0001 per share
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	140,830,401

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Current assets
Cash and cash equivalents	¥ 11,341,758	$ 1,779,769	¥ 3,998,203
Short-term investments	884,996	138,875	536,401
Accounts receivable	1,002	157	6,999
Amounts due from related parties	6,615	1,038	40,799
Prepayments and other current assets	724,583	113,703	164,910
Total current assets	12,958,954	2,033,542	4,747,312
Non-current assets
Property, equipment and software, net	369,126	57,924	191,355
Intangible assets, net	458	72	549
Right-of-use assets, net	309,085	48,502	144,063
Other non-current assets	4,000	628
Total non-current assets	682,669	107,126	335,967
Total assets	13,641,623	2,140,668	5,083,279
Current liabilities (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB1,717,020 and RMB2,762,123 (US$433,437) as of December 31, 2020 and 2021, respectively)
Accounts payable	52,963	8,311	41,856
Deferred revenue	1,958,570	307,342	1,200,349
Other payables and accrued liabilities	645,138	101,236	418,259
Operating lease liabilities, current	127,531	20,012	59,559
Total current liabilities	2,784,202	436,901	1,720,023
Non-current liabilities (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB76,373 and RMB178,844 (US$28,065) as of December 31, 2020 and 2021, respectively)
Operating lease liabilities, non-current	183,365	28,774	76,373
Total non-current liabilities	183,365	28,774	76,373
Total liabilities	2,967,567	465,675	1,796,396
Commitments and contingencies (Note 17)
Mezzanine equity
Subscription receivables from shareholders			(103,596)
Total mezzanine equity			5,587,000
Shareholders' (deficit)/equity
Ordinary shares	554	87	81
Treasury shares
Additional paid-in capital	14,624,386	2,294,886	452,234
Accumulated other comprehensive loss	(257,765)	(40,449)	(130,387)
Accumulated deficit	(3,693,119)	(579,531)	(2,622,045)
Total shareholders' (deficit)/equity	10,674,056	1,674,993	(2,300,117)
Total liabilities, mezzanine equity and shareholders' (deficit)/equity	¥ 13,641,623	$ 2,140,668	5,083,279
Series A Redeemable Convertible Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity			36,177
Series B Redeemable Convertible Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity			67,976
Series C Redeemable Convertible Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity			478,565
Series D Redeemable Convertible Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity			380,782
Series E Redeemable Convertible Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity			1,845,033
Series F Redeemable Convertible Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity			¥ 2,882,063

Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 $ / shares
Current liabilities	¥ 2,784,202	$ 436,901	¥ 1,720,023
Non current liabilities	¥ 183,365	$ 28,774	¥ 76,373
Common stock par or stated value per share \| $ / shares		$ 0.0001		$ 0.0001
Common stock shares authorized	1,500,000,000	1,500,000,000	1,500,000,000
Treasury stock common shares	21,097,870	21,097,870	3,657,853
Common Class A [Member]
Common stock shares issued	748,953,103	748,953,103	11,533,640
Common stock shares outstanding	727,855,233	727,855,233	7,875,787
Common Class B [Member]
Common stock shares issued	140,830,401	140,830,401	121,108,037
Common stock shares outstanding	140,830,401	140,830,401	121,108,037
Series A Redeemable Convertible Preferred Stock [Member]
Temporary equity par or stated value per share \| $ / shares		$ 0.0001		0.0001
Temporary equity shares authorized	0	0	60,000,000
Temporary equity shares issued	0	0	60,000,000
Temporary equity shares outstanding	0	0	60,000,000
Series B Redeemable Convertible Preferred Stock [Member]
Temporary equity par or stated value per share \| $ / shares		$ 0.0001		0.0001
Temporary equity shares authorized	0	0	40,000,000
Temporary equity shares issued	0	0	40,000,000
Temporary equity shares outstanding	0	0	40,000,000
Series C Redeemable Convertible Preferred Stock [Member]
Temporary equity par or stated value per share \| $ / shares		$ 0.0001		0.0001
Temporary equity shares authorized	0	0	147,068,133
Temporary equity shares issued	0	0	147,068,133
Temporary equity shares outstanding	0	0	147,068,133
Series D Redeemable Convertible Preferred Stock [Member]
Temporary equity par or stated value per share \| $ / shares		$ 0.0001		0.0001
Temporary equity shares authorized	0	0	60,856,049
Temporary equity shares issued	0	0	60,856,049
Temporary equity shares outstanding	0	0	60,856,049
Series E Redeemable Convertible Preferred Stock [Member]
Temporary equity par or stated value per share \| $ / shares		$ 0.0001		0.0001
Temporary equity shares authorized	0	0	144,073,367
Temporary equity shares issued	0	0	144,073,367
Temporary equity shares outstanding	0	0	144,073,367
Series F Redeemable Convertible Preferred Stock [Member]
Temporary equity par or stated value per share \| $ / shares		$ 0.0001		$ 0.0001
Temporary equity shares authorized	0	0	99,354,585
Temporary equity shares issued	0	0	99,354,585
Temporary equity shares outstanding	0	0	99,354,585
Variable Interest Entity, Primary Beneficiary [Member]
Current liabilities \| ¥	¥ 2,789,346		¥ 2,089,447
Variable Interest Entity, Primary Beneficiary [Member] \| Nonrecourse [Member]
Current liabilities	2,762,123	$ 433,437	1,717,020
Non current liabilities	¥ 178,844	$ 28,065	¥ 76,373

Consolidated Statements Of Comprehensive Loss ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares	Dec. 31, 2019 CNY (¥) ¥ / shares shares
Revenues
Revenues	¥ 4,259,128	$ 668,350	¥ 1,944,359	¥ 998,720
Operating cost and expenses
Cost of revenues	(554,648)	(87,036)	(240,211)	(137,812)
Sales and marketing expenses	(1,942,670)	(304,847)	(1,347,532)	(916,832)
Research and development expenses	(821,984)	(128,987)	(513,362)	(325,569)
General and administrative expenses	(1,991,123)	(312,451)	(797,008)	(132,999)
Total operating cost and expenses	(5,310,425)	(833,321)	(2,898,113)	(1,513,212)
Other operating income, net	14,977	2,350	8,849	2,573
Loss from operations	(1,036,320)	(162,621)	(944,905)	(511,919)
Investment income	24,744	3,883	9,095	9,718
Financial income, net	9,735	1,528	3,098	145
Foreign exchange gain/(loss)	(1,961)	(308)	(5,074)	1
Other expenses, net	(7,745)	(1,215)	(4,109)
Loss before income tax expense	(1,011,547)	(158,733)	(941,895)	(502,055)
Income tax expense	(59,527)	(9,341)
Net loss	(1,071,074)	(168,074)	(941,895)	(502,055)
Accretion on convertible redeemable preferred shares to redemption value	(164,065)	(25,745)	(283,981)	(232,319)
Net loss attributable to ordinary shareholders	(1,235,139)	(193,819)	(1,225,876)	(734,374)
Other comprehensive income/(loss)
Foreign currency translation adjustments	(127,378)	(19,988)	(149,539)	25,354
Total comprehensive loss	¥ (1,198,452)	$ (188,062)	¥ (1,091,434)	¥ (476,701)
Weighted average number of ordinary shares used in computing net loss per share
— Basic and diluted	529,343,027	529,343,027	111,172,986	107,114,306
Net loss per share attributable to ordinary shareholders
— Basic and diluted \| (per share)	¥ (2.33)	$ (0.37)	¥ (11.03)	¥ (6.86)
Online recruitment services to enterprise customers
Revenues
Revenues	¥ 4,219,026	$ 662,057	¥ 1,927,178	¥ 986,859
Others
Revenues
Revenues	¥ 40,102	$ 6,293	¥ 17,181	¥ 11,861

Consolidated Statements Of Changes In Shareholders' (Deficit)/Equity ¥ in Thousands, $ in Thousands	CNY (¥) shares	USD ($) shares	Variable Interest Entity, Primary Beneficiary [Member] CNY (¥)	Ordinary shares CNY (¥) shares	Treasury shares CNY (¥) shares	Additional paid-in capital CNY (¥)	Accumulated other comprehensive (loss)/income CNY (¥)	Accumulated deficit CNY (¥)	Common Class A [Member] shares	Common Class A [Member] IPO [Member] CNY (¥)	Common Class A [Member] Coatue PE Asia Twenty Six LLC [Member] CNY (¥)	Common Class A [Member] Ordinary shares IPO [Member] CNY (¥) shares	Common Class A [Member] Ordinary shares Coatue PE Asia Twenty Six LLC [Member] CNY (¥) shares	Common Class A [Member] Treasury shares Variable Interest Entity, Primary Beneficiary [Member] shares	Common Class A [Member] Additional paid-in capital IPO [Member] CNY (¥)	Common Class A [Member] Additional paid-in capital Coatue PE Asia Twenty Six LLC [Member] CNY (¥)	Common Class B [Member] CNY (¥) shares	Common Class B [Member] TECHWOLF LIMITED [Member] CNY (¥)	Common Class B [Member] Ordinary shares CNY (¥) shares	Common Class B [Member] Ordinary shares TECHWOLF LIMITED [Member] CNY (¥) shares	Common Class B [Member] Additional paid-in capital CNY (¥)	Common Class B [Member] Additional paid-in capital TECHWOLF LIMITED [Member] CNY (¥)
Balance (in shares) at Dec. 31, 2018 \| shares				100,080,000
Balance (in shares) at Dec. 31, 2018 \| shares					9,920,000
Balance at Dec. 31, 2018	¥ (986,166)			¥ 62	¥ 0		¥ (6,202)	¥ (980,026)
Net loss	(502,055)		¥ (464,373)					(502,055)
Foreign currency translation adjustments	25,354						25,354
Share-based compensation	34,250					¥ 34,250
Accretion on convertible redeemable preferred shares to redemption value	¥ (232,319)					(34,250)		(198,069)
Cancellation of ordinary shares, Shares \| shares					(9,920,000)
Balance (in shares) at Dec. 31, 2019 \| shares	100,080,000	100,080,000		100,080,000
Balance (in shares) at Dec. 31, 2019 \| shares					0
Balance at Dec. 31, 2019	¥ (1,660,936)			¥ 62	¥ 0	0	19,152	(1,680,150)
Net loss	(941,895)		(303,061)					(941,895)
Foreign currency translation adjustments	(149,539)						(149,539)
Share-based compensation	124,105					124,105
Accretion on convertible redeemable preferred shares to redemption value	¥ (283,981)					(283,981)
Issuance of ordinary shares, Shares \| shares													4,122,853
Issuance of ordinary shares, Value											¥ 78,998		¥ 3			¥ 78,995
Issuance of Class B ordinary shares to TECHWOLF LIMITED, Shares \| shares																				24,780,971
Issuance of Class B ordinary shares to TECHWOLF LIMITED, Value																		¥ 533,131		¥ 16		¥ 533,115
Issuance of Treasury shares, Shares \| shares														3,657,853
Balance (in shares) at Dec. 31, 2020 \| shares				128,983,824					7,875,787								121,108,037
Balance (in shares) at Dec. 31, 2020 \| shares	3,657,853	3,657,853			3,657,853
Balance at Dec. 31, 2020	¥ (2,300,117)			¥ 81	¥ 0	452,234	(130,387)	(2,622,045)
Net loss	(1,071,074)	$ (168,074)	¥ 551,133					(1,071,074)
Foreign currency translation adjustments	(127,378)	(19,988)					(127,378)
Share-based compensation	417,284					417,284
Accretion on convertible redeemable preferred shares to redemption value	(164,065)	$ (25,745)				(164,065)
Issuance of ordinary shares, Shares \| shares												110,400,000
Issuance of ordinary shares, Value										¥ 6,406,872		¥ 70			¥ 6,406,802
Issuance of Class B ordinary shares to TECHWOLF LIMITED, Shares \| shares																				24,745,531
Issuance of Class B ordinary shares to TECHWOLF LIMITED, Value																		¥ 1,506,362		¥ 16		¥ 1,506,346
Repurchase and cancellation of ordinary shares, Shares \| shares																			(1,181,339)
Repurchase and cancellation of ordinary shares, Value																	¥ (42,264)		¥ (1)		¥ (42,263)
Conversion of convertible redeemable preferred shares, Shares \| shares				551,352,134					551,352,134
Conversion of convertible redeemable preferred shares, Value	¥ 5,854,661			¥ 353		5,854,308
Issuance of ordinary shares for share award plan \| shares					27,786,070
Exercise of share options, Shares \| shares	54,385,484	54,385,484		54,385,484	(10,346,053)
Exercise of share options, Value	¥ 193,775			¥ 35		193,740
Balance (in shares) at Dec. 31, 2021 \| shares				868,685,634					727,855,233								140,830,401
Balance (in shares) at Dec. 31, 2021 \| shares	21,097,870	21,097,870			21,097,870
Balance at Dec. 31, 2021	¥ 10,674,056	$ 1,674,993		¥ 554		¥ 14,624,386	¥ (257,765)	¥ (3,693,119)

Consolidated Statements Of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Cash flows from operating activities
Net loss	¥ (1,071,074)	$ (168,074)	¥ (941,895)	¥ (502,055)
Adjustments to reconcile net loss to net cash (used in)/generated from operating activities:
Share-based compensation	417,284	65,481	124,105	34,250
Issuance of Class B ordinary shares to TECHWOLF LIMITED (Note 13)	1,506,362	236,381	533,131	0
Depreciation and amortization	80,100	12,569	41,095	18,062
Loss from disposal of property, equipment and software	110	17	230	27
Foreign exchange (gain)/loss	1,961	308	5,074	(1)
Amortization of right-of-use assets	109,336	17,157	66,946	39,487
Unrealized investment income	(6,595)	(1,035)	0	0
Changes in operating assets and liabilities:
Accounts receivable	5,997	941	(5,201)	(1,528)
Prepayments and other current assets	(403,696)	(63,349)	(46,146)	(66,826)
Amounts due from related parties	3,503	550	(2,938)	(28,184)
Other non-current assets	(4,000)	(628)	0	0
Accounts payable	13,464	2,113	(22,746)	29,280
Deferred revenue	758,221	118,981	585,529	335,254
Other payables and accrued liabilities	329,802	51,753	130,541	79,320
Operating lease liabilities	(99,394)	(15,597)	(71,814)	(42,749)
Net cash (used in)/generated from operating activities	1,641,381	257,568	395,911	(105,663)
Cash flows from investing activities
Purchase of property, equipment and software	(259,891)	(40,783)	(138,211)	(64,040)
Proceeds from disposal of property, equipment and software	29	5	36	11
Purchase of short-term investments	(3,940,000)	(618,272)	(1,834,390)	(1,171,894)
Proceeds from maturity of short-term investments	3,598,000	564,605	2,439,870	12,120
Net cash (used in)/generated from investing activities	(601,862)	(94,445)	467,305	(1,223,803)
Cash flows from financing activities
Proceeds from IPO, net of issuance cost	6,406,872	1,005,379	0	0
Proceeds from exercise of share options	35,975	5,645	0	0
Repurchase of Class B ordinary shares from TECHWOLF LIMITED	(11,584)	(1,818)	0	0
Proceeds from issuance of convertible redeemable preferred shares, net of issuance cost	0	0	2,803,114	993,475
Proceeds from issuance of Class A ordinary shares	0	0	78,998	0
Proceeds from borrowings	0	0	0	30,000
Repayments of borrowings	0	0	0	(30,000)
Net cash generated from financing activities	6,431,263	1,009,206	2,882,112	993,475
Effect of exchange rate changes on cash and cash equivalents	(127,227)	(19,965)	(154,480)	43,113
Net (decrease)/increase in cash and cash equivalents	7,343,555	1,152,364	3,590,848	(292,878)
Cash and cash equivalents at beginning of the year	3,998,203	627,405	407,355	700,233
Cash and cash equivalents at end of the year	11,341,758	1,779,769	3,998,203	407,355
Supplemental cash flow disclosures
Cash paid for interest	0	0	0	349
Supplemental schedule of non-cash investing and financing activities
Accretion on convertible redeemable preferred shares to redemption value	164,065	25,745	283,981	232,319
Changes in payables for purchase of property, equipment and software	¥ 2,357	$ 370	¥ 21,985	¥ 359

Principal Activities and Organization

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principal Activities and Organization

1. PRINCIPAL ACTIVITIES AND ORGANIZATION

(a) Principal activities

KANZHUN LIMITED (“Kanzhun” or the “Company”) was incorporated under the laws of the Cayman Islands on January 16, 2014 as an exempted company with limited liability. The Company, its subsidiaries, consolidated variable interest entity (the “VIE”) and VIE’s subsidiaries (collectively, the “Group”) run an online recruitment platform called “BOSS Zhipin” in the People’s Republic of China (“PRC”).

The BOSS Zhipin platform mainly focuses on assisting the recruitment process between job seekers and employers of enterprises and corporations. Through BOSS Zhipin platform, employers, mainly executives or middle-level managers of businesses, could participate directly in the recruiting process.

(b) Organization of the Group

The Group’s consolidated financial statements include the financial statements of the Company, its subsidiaries,

the

consolidated VIE and VIE’s subsidiaries.

As of December 31, 2021, the Company’s principal subsidiaries and consolidated VIE are as follows:

Place of
incorporation

Date of incorporation

Equity
interest held

Principal activities

Subsidiaries

Techfish Limited

Hong Kong, China

February 14, 2014

100

Investment holding

Beijing Glorywolf Co., Ltd.
(“Glory”, or the “WFOE”)

Beijing, China

May 7, 2014

100

Online recruitment
assisting service

VIE

Beijing Huapin Borui Network Technology Co., Ltd. (“Huapin”)

Beijing, China

December 25, 2013

100

Online recruitment
assisting service

In order to comply with the PRC laws and regulations which prohibit or restrict foreign investments into companies involved in restricted businesses, the Group operates its Apps, websites and other restricted businesses in the PRC through a PRC domestic company and its subsidiaries, whose equity interests are held by certain management members of the Company (“Nominee Shareholders”). The Company obtained control over such PRC domestic company by entering into a series of contractual arrangements, through the WFOE, with such PRC domestic company and its respective Nominee Shareholders. As a result, the Company maintains the ability to control such PRC domestic company and is entitled to substantially all of the economic benefits from such PRC domestic company. Management concluded that such PRC domestic company is a VIE of the Company, of which the Company is the ultimate primary beneficiary. As such, the Group consolidated the results of operations and assets and liabilities of such PRC domestic company and its subsidiaries in the Group’s consolidated financial statements for all the periods presented. The principal terms of the agreements entered amongst the VIE, the Nominee Shareholders and the WFOE are further described below.

Exclusive call option agreement

Pursuant to the exclusive call option agreement, the Nominee Shareholders of the VIE have granted the WFOE the exclusive and irrevocable right to purchase or to designate one or more person(s) at its discretion to purchase part or all of the equity interests in the VIE (the “Target Equity”) from the Nominee Shareholders at any time. And the VIE has granted the WFOE the exclusive and irrevocable right to purchase or to designate one or more person(s) at its discretion to purchase part or all of the assets of the VIE (the “Target Assets”) at any time. The total transfer price for the Target Equity or the Target Assets shall be equal to RMB0.1 or subject to the lowest price permitted by PRC laws and regulations. The VIE and its Nominee Shareholders have agreed that without prior written consent of the WFOE or the Company, the Nominee Shareholders or the VIE shall not sell, transfer, pledge or dispose of any of the Target Equity, the Target Assets, or the revenue or business in the VIE. In addition, the VIE covenants that it shall not declare any dividend or change capitalization structure of the VIE or enter into any loan or investment agreements without WFOE or the Company’s prior written consent.

Power of attorney

Pursuant to the power of attorney, each of the Nominee Shareholders appointed the WFOE as their

attorney-in-fact

to exercise all shareholder rights under PRC law and the relevant articles of association, including but not limited to, attending shareholders meetings and signing on their behalf on the resolutions, voting on their behalf on all matters requiring shareholder approval, including but not limited to the appointment and removal of legal representative, directors and senior management, as well as the sale, transfer and disposal of all or part of the equity interests owned by such shareholders. The powers of attorney will remain effective for a given Nominee Shareholders until such shareholder ceases to be a shareholder of the VIE.

Exclusive technology development, consulting and service agreement

Pursuant to the exclusive technology development, consulting and service agreement, the WFOE has agreed to provide to the VIE services, including, but not limited to, research, development, application and implementation of technology, daily maintenance, monitor, debugging, and troubleshooting of the computer network system, consulting services for the procurement of software and hardware systems, and training and technical support services. The VIE shall pay to the WFOE service fees as calculated in such manner as determined by both VIE and WFOE from time to time based on the nature of service, which should be paid quarterly. Service fees should normally be equal to the remaining amount of all revenues less all expenses of VIE. The service fees, and any adjustment or change to the service fees, should be subject to the approval of the WFOE and the board of the Company. The agreement has a term of 10 years unless otherwise terminated by the WFOE and VIE and may renew at the end of each term with the prior written consent of the WFOE for a further term of ten years or otherwise as agreed by the WFOE and VIE. The WFOE retains the exclusive right to terminate the agreements at any time by delivering a written notice 30 days in advance to VIE.

Equity interest pledge agreement

Pursuant to the equity interest pledge agreement, the Nominee Shareholders of the VIE have pledged 100% equity interests in the VIE to the WFOE to guarantee the payment of service fees by the VIE of its obligations under the exclusive technology development, consulting and service agreement. The equity interest pledge agreement shall remain valid until the full payment of the service fees and the fulfillment of all the obligations

under the exclusive technology development, consulting and service agreement. In the event of a breach by the VIE or any of its Nominee Shareholders of contractual obligations under the exclusive technology development, consulting and service agreement, and the equity interest pledge agreement, as the case may be, the WFOE, as pledgee, will have the right to auction or dispose of the pledged equity interests in the VIE and will have priority in receiving the proceeds from such auction or disposal.

Spousal consent letter

Pursuant to the spousal consent letter, the spouse of each Nominee Shareholder who is a natural person, unconditionally and irrevocably agreed that the equity interests in the VIE held by such Nominee Shareholder will be disposed of pursuant to the equity interest pledge agreement, the exclusive call option agreement and power of attorney. Each of their spouses agreed not to assert any rights over the equity interests in the VIE held by such Nominee Shareholder. In addition, in the event that any spouse obtains any equity interests in VIE held by such Nominee Shareholder for any reason, he or she agreed to be bound by the equity interest pledge agreement, the exclusive option agreement and power of attorney.

(d) Risks in relations to the VIE structure

The following table set forth the assets, liabilities, results of operations and changes in cash and cash equivalents of the consolidated VIE and VIE’s subsidiaries taken as a whole, which were included in the Group’s consolidated financial statements with intercompany transactions

eliminated:


	As of December 31,
	2020		2021
	RMB		RMB
ASSETS
Current assets
Cash and cash equivalents		183,199		864,851
Short-term investments		525,506		864,557
Accounts receivable		6,999		1,002
Amounts due from Group companies		36,859		86,989
Amounts due from related parties		—		6,615
Prepayments and other current assets		146,244		487,598

Total current assets		898,807		2,311,612

Non-current assets
Property, equipment and software, net		191,242		368,381
Intangible assets, net		549		458
Right-of-use assets, net		144,063		301,288
Other non-current assets		—		4,000

Total non-current assets		335,854		674,127

Total assets		1,234,661		2,985,739


	As of December 31,
	2020		2021
	RMB		RMB
LIABILITIES
Current liabilities
Accounts payable		41,839		52,938
Deferred revenue		1,200,349		1,958,570
Other payables and accrued liabilities		415,273		626,151
Amounts due to Group companies		372,427		27,223
Operating lease liabilities, current		59,559		124,464

Total current liabilities		2,089,447		2,789,346

Non-current liabilities
Operating lease liabilities, non-current		76,373		178,844

Total liabilities		2,165,820		2,968,190


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Total revenues		998,720			1,944,359			4,259,128
Cost of revenues		(133,553	)		(232,261	)		(554,575	)
Net ( loss ) /income		(464,373	)		(303,061	)		551,133


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Net cash (used in)/generated from operating activities		(25,658	)		494,187			1,717,104
Net cash used in investing activities		(66,029	)		(632,568	)		(591,213	)
Net cash generated from/(used in) financing activities		103,596			260,484			(444,239	)

Net increase in cash and cash equivalents		11,909			122,103			681,652
Cash and cash equivalents at beginning of year		49,187			61,096			183,199

Cash and cash equivalents at end of year		61,096			183,199			864,851

Under the contractual arrangements with the VIE, the Company has the power to direct activities of the VIE through the WFOE that most significantly impact the VIE such as having assets transferred out of the VIE at its discretion. Therefore, the Company considers that there is no asset of the VIE

that can be used to settle obligations of the VIE except for registered capital and PRC statutory reserves of the VIE amounting to RMB8,992 and RMB9,002 as

of December 31, 2020 and 2021, respectively. Since the VIE was incorporated as a limited liability company under the PRC Company Law, the creditors do not have recourse to the general credit of the WFOE for all the liabilities of the VIE.

The Group believes that the contractual arrangements between or among the WFOE, VIE and the Nominee Shareholders are following PRC laws and regulations, as applicable, and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements. On March 15, 2019, the Foreign Investment Law was approved and took effect from January 1, 2020. Since the Foreign Investment Law is new, there are substantial uncertainties exist with respect to its implementation and interpretation and the possibility that the VIE will be deemed as a foreign-invested enterprise and subject to relevant restrictions in the future shall not be excluded. If the contractual arrangements establishing the Company’s VIE structure are found to be in violation of any existing law and regulations or future PRC laws and regulations, the relevant PRC government authorities will have broad discretion in dealing with such violation, including, without limitation, levying fines, confiscating our income or the income from the VIE, revoking our business licenses or the business licenses, requiring us to restructure our ownership structure or operations and requiring us to discontinue any portion or all of our value-added businesses or other prohibited businesses. Any of these actions could cause significant disruption to the Company’s business operations and have a severe adverse impact on the Company’s cash flows, financial position and operating performance. If the imposing of these penalties causes the WFOE to lose its rights to direct the activities of and receive economic benefits from the VIE, which in turn may restrict the Company’s ability to consolidate and reflect in its financial statements the financial position and results of operations of its VIE.

(e)

COVID-19

impact and liquidity

The Group’s financial performance was not significantly impacted by

COVID-19

in 2020 and 2021, when the pandemic had been largely contained in China. Based on the assessment on the Group’s liquidity and financial positions, the Group believes that its current cash and cash equivalents, will be sufficient to enable it to meet its anticipated working capital requirements and capital expenditures for at least the next twelve months from the date these consolidated financial statements are issued.

Principal Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Principal Accounting Policies

2. PRINCIPAL ACCOUNTING POLICIES

2.1 Basis of presentation

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

Significant accounting policies followed by the Group in the preparation of its accompanying consolidated financial statements are summarized below.

2.2 Basis of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, the consolidated VIE and VIE’s subsidiaries for which the Company is the ultimate primary beneficiary.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

The Company applies the guidance codified in ASC 810,

Consolidations

on accounting for the VIE, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entity in which it has a controlling financial interest. A VIE is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support; (b) as a group, the holders of the equity investment at risk lack the ability to make certain decisions, the obligation to absorb expected losses or the right to receive expected residual returns; or (c) an equity investor has voting rights that are disproportionate to its economic interest and substantially all of the entity’s activities are on behalf of the investor with disproportionately fewer voting rights.

All transactions and balances between the Company, its subsidiaries, consolidated VIE and VIE’s subsidiaries have been eliminated upon consolidation.

2.3 Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date, and the reported revenues and expenses during the reporting periods in the consolidated financial statements and accompanying notes. Accounting estimates reflected in the Group’s consolidated financial statements include but are not limited to the useful lives of property, equipment and software, impairment of long-lived assets, valuation allowances for deferred tax assets, valuation of ordinary shares and share-based compensation. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable under current circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates.

2.4 Foreign curren

The Group’s reporting currency is Renminbi (“RMB”). The functional currency of the Company and subsidiaries incorporated in Hong Kong and United States of America, is the United States dollars (“US$”). The Group’s PRC subsidiaries, consolidated VIE and VIE’s subsidiaries determined their functional currency to be RMB. The determination of the respective functional currency is based on the criteria of ASC 830,

Foreign Currency Matters

Transactions denominated in currencies other than the functional currency are translated into the functional currency of the entity at the exchange rates quoted by authoritative banks prevailing on the transaction dates. Exchange gains and losses resulting from those foreign currency transactions denominated in foreign currencies are recorded in the Consolidated Statements of Comprehensive Loss.

The financial statements of the Company and subsidiaries located outside of the PRC are translated from the functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Revenues, expenses, gain and loss are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in other comprehensive income/(loss) in the Consolidated Statements of Comprehensive Loss.

2.5 Convenience translation

Translations of the Consolidated Balance Sheets, the Consolidated Statements of Comprehensive Loss and the Consolidated Statements of Cash Flows from RMB into US$ as of and for the year ended December 31, 2021 are solely for the convenience of the readers and were calculated at the rate of RMB6.3726 per US$1.00 on December 30, 2021 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate or at any other rate.

2.6 Fair value measurements

Accounting guidance defines fair value as 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 measurement 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.

Accounting guidance establishes a fair value hierarchy that 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. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

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

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

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

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 and 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.

Financial assets and liabilities of the Group mainly consist of cash and cash equivalents, short-term investments, accounts receivables, amounts due from related parties, prepayments and other current assets, accounts payable, certain accrued expenses and other current liabilities. Except for short-term investments, the carrying values of cash and cash equivalents, accounts receivables, amounts due from related parties, prepayments and other current assets, accounts payable, certain accrued expenses and other current liabilities approximates their fair values due to the short-term maturity of these instruments. The Group reports short-term investments at fair value based on Level 2 measurement.

2.7 Cash and cash equivalents

Cash includes cash on hand and deposits held by financial

institutions

that can be added to or withdrawn without limitation or restriction. Cash equivalents represent short-term, highly liquid investments that are readily convertible to known amounts of cash and with original maturities of three months or less.

2.8 Short-term investments

Short-term investments are wealth management products issued by commercial banks or other financial institutions, which contains fixed or variable interest with original maturities within one year. These investments are stated at fair value. Changes in the fair value are reflected in investment income in the Consolidation Statements of Comprehensive Loss.

2.9 Accounts receivable

Accounts receivable are presented net of allowance for doubtful accounts. The Group provides general and specific provisions for bad debts when facts and circumstances indicate that the receivable is unlikely to be collected. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. No allowance for doubtful accounts were recognized for the years ended December 31, 2019, 2020 and 2021.

2.10 Property, equipment and software

Property, equipment and software are stated at cost less accumulated depreciation and impairment, if any. Property, equipment and software are depreciated at rates sufficient to write off their costs less impairment and residual value, if any, over the estimated useful lives on a straight-line basis. The estimated useful lives are as follows:


Category		Estimated useful lives
Electronic equipment		3-5 years
Leasehold improvement		Shorter of lease terms or estimated useful lives of the assets
Furniture and fixtures		5 years
Motor vehicles		3-5 years
Software		5 years

The majority of electronic equipment includes servers. The Group recognized the gain or loss on the disposal of property, equipment and software in the Consolidated Statements of Comprehensive Loss.

2.11 Intangible assets

Intangible assets purchased are recognized and measured at cost less accumulated amortization and impairment, if any. Intangible assets are amortized using the straight-line method over the estimated useful lives as below:


Category		Estimated useful lives
Domains		10 years

2.12 Impairment of long-lived assets

Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than that the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the asset and its eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the asset, the Group recognizes an impairment loss based on the excess of the carrying value of the asset over the fair value of the asset. No impairment of long-lived assets was recognized for the years ended December 31, 2019, 2020 and 2021.

2.13 Revenue recognition

The Group accounted for revenue under ASC 606,

Revenue from Contracts with Customers

, and all periods have been presented under ASC 606. Consistent with the criteria of ASC 606, the Group recognizes revenue to depict the transfer of promised services to customers in an amount that reflects the consideration to which the Group expects to receive in exchange for those services.

To achieve that core principle, the Group applies the five steps defined under ASC 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Group assesses its revenue arrangements against specific criteria in order to determine if it is acting as principal or agent. Revenue arrangements with multiple performance obligations are divided into separate distinct services. Revenue is recognized upon the transfer of control of promised services to a customer. Revenue is recorded net of value added tax (“VAT”).

The Group generates revenue by providing services to the enterprise customers and job seekers to assist in the recruitment process over mobile apps and websites, which means matching enterprise customers with suitable job seekers through AI matching technology, and stimulating real time interaction between them

via in-app communication

tools.

Online recruitment services to enterprise customers

The Group provides online recruitment support services carrying different kinds of features on the Group’s platform, mainly including paid job postings, bulk invite-sending tools, message sending tools and other services. Enterprise customers could also purchase subscription packages which contain an array of features, including

popular in-demand jobs

posting and interaction privilege with job seekers during the subscription period.

Based on the historical pattern by which the Group satisfies its performance obligation and how enterprise customers benefit from the Group’s performance obligations, the Group recognizes its revenue from the services provided under two models: time-based model and item-based model.

Time-based model

Under the time-based model, the Group’s obligation is to deliver corresponding services to enterprise customers during a particular subscription period, a certain paid job posting display period, or a certain privilege

period for virtual tools such as message sending, etc., ranging from one month up to one year. For the services covered within a particular subscription package, they have the same contract period length during the subscription period. The revenues recognized under this time-based model for the years ended December 31, 2019, 2020 and 2021 were RMB717,721, RMB1,527,671 and RMB3,043,692, respectively.

The Group records the upfront cash payments from the enterprise customers as deferred revenue and then recognizes the revenue on a straight-line basis over the subscription period in which the enterprise customers are entitled to the corresponding privileges, as the Group is standing ready to provide services and a time-based measure of progress best reflects the satisfaction of the performance obligations.

Item-based model

Under the item-based model, the Group’s obligation is to deliver corresponding services in the form of other various virtual tools. Revenues for services provided in form of such virtual tools are recognized at the point in time when the services are provided to the enterprise customers. The Group records the upfront cash payments from the enterprise customers as part of deferred revenue, and then recognizes the revenue at the point in time upon the Group delivers the corresponding services or at the point when the virtual tools expire. The revenues recognized at the point in time under the item-based model for the years ended December 31, 2019, 2020 and 2021 were RMB269,138, RMB399,507 and RMB1,175,334, respectively.

Other services

Other services mainly represent paid value-added services offered to job seekers, including priority placement of their professional profiles, increased resume exposure to enterprise customers, candidate competitive analysis, message filtering services and five-dimensional personality test, etc.

The Group defines enterprise customers who contributed revenue of RMB50 or more annually as key accounts, who contributed revenue between RMB5 and RMB50 annually as

mid-sized

accounts, and who contributed revenue of RMB5 or less annually as

small-sized

accounts.


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Online recruitment services to enterprise customers
—Key accounts		155,819		330,795		928,360
—Mid-sized accounts		363,282		696,325		1,513,506
—Small-sized accounts		467,758		900,058		1,777,160
Other s		11,861		17,181		40,102

Total		998,720		1,944,359		4,259,128

Arrangements with multiple performance obligations

The Group’s contracts with enterprise customers may include bulk sales of services in the form of virtual tools and services contained in subscription packages, and therefore multiple performance obligations exist. For those services in the form of virtual tools and contained in subscription packages included in bulk sales, the selling prices are consistently made references of the standalone selling prices when sold separately. The Group allocates the transaction price to each performance obligation based on the relative standalone selling price, considering bulk sale price discounts offered to certain enterprise customers where applicable.

Deferred revenue

The Group records deferred revenue when the Group receives enterprise customers’ payments in advance of transferring control of service to customers. Substantially all deferred revenue recorded are expected to be recognized as revenues during the subsequent annual period.

Remaining performance obligations

Remaining performance obligations represent the amount of contracted future revenues not yet recognized as the amounts relate to undelivered performance obligations. Substantially all of Group’s contracts are less than one year in duration. As such, the Group has elected to apply the practical expedient which allows an entity to exclude disclosures about its remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less.

2.14 Cost of revenues

Cost of services consist primarily of settlement costs of

third-party on-line payment

platforms, payroll and other employee-related costs, server

and bandwidth service costs, server

depreciation and other expenses incurred by the Group which are directly attributable to the performance of the Group’s online recruitment support services.

2.15 Sales and marketing expenses

Sales and marketing expenses consist primarily of advertising expenses, payroll and other employee-related expenses for the Group’s sales and marketing staff as well as office rental and property management fees for sales functions. Advertising expenses generally represent online traffic acquisition and branding activities costs. For the years ended December 31, 2019, 2020 and 2021, advertising expenses totaled RMB538,940, RMB812,415 and RMB997,650, respectively.

2.16 Research and development expenses

Research and development expenses primarily consist of payroll and other employee-related costs and office rental and property management fees for research and development functions. All research and development costs are expensed as incurred.

2.17 General and administrative expenses

General and administrative expenses consist primarily of payroll and other employee-related expenses for the Group’s managerial and administrative staff

office rental and property management fees, professional service fees and other administrative expenses.

2.18 Employee benefits

Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries

, VIE

and

VIE’s subsidiaries

of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. Total amounts of such employee benefit expenses contributed by the Group,

including accrued and unpaid amounts

, were RMB103,817, RMB135,478 and RMB256,533 for the years ended December 31, 2019, 2020 and 2021, respectively.

2.19 Share-based compensation

The Group grants share options and restricted share units (“RSUs”) to its management, other key employees and eligible nonemployees. Such compensation is accounted for in accordance with ASC 718,

Compensation-Stock Compensation

. The Group adopted

ASU 2018-07,

Improvements to Nonemployee Share-Based Payment Accounting,

for the periods presented. Under ASC

2018-07,

the accounting for nonemployees’ share-based awards are similar to the model for employee awards. And forfeitures are accounted for when they occur.

Share-based awards with service conditions only are measured at the grant date fair value of the awards and recognized as expenses using the straight-line method over the requisite service period. Share-based awards that are subject to both service conditions and the occurrence of an IPO or change of control as a performance condition, are measured at the grant date fair value. Cumulative share-based compensation expenses for the awards that have satisfied the service condition were recorded upon the completion of the Company’s IPO in June 2021.

The fair value of share options is estimated using the binomial option-pricing model. The determination of the fair value is affected by the fair value of the ordinary shares as well as assumptions regarding a number of complex and subjective variables, including the expected share price volatility, actual and projected employee and nonemployee share option exercise behavior, risk-free interest rates and expected dividend yield. Binomial option-pricing model incorporates the assumptions about grantees’ future exercise patterns. The fair value of these awards was determined by management with the assistance from an independent valuation firm using management’s estimates and assumptions. The fair value of the RSUs, which were granted subsequent to the completion of the Company’s IPO, is estimated based on the fair value of the underlying ordinary shares of the Company on the grant date.

The assumptions used in share-based compensation expense recognition represent management’s best estimates, but these estimates involve inherent uncertainties and application of management judgment. If factors change or different assumptions are used, the share-based compensation expenses could be materially different for any period. Moreover, the estimates of fair value of the awards are not intended to predict actual future events or the value that ultimately will be realized by grantees who receive share-based awards.

2.20 Operating leases

The Group applied ASC 842,

Leases

, on January 1, 2019 on the modified retrospective basis. The Group determines if an arrangement is a lease at inception. Operating leases are primarily for office and are included in operating lease

right-of-use

assets and operating lease liabilities on the Consolidated Balance Sheets. Operating lease

right-of-use

assets represent the Group’s right to use an underlying asset for the lease term and operating lease liabilities represent obligation to make lease payments arising from the lease. The operating lease

right-of-use

assets and liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The Group’s lease term may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. And the Group has elected the practical expedient to account for lease and

non-lease

components as a single lease component. Upon the adoption of ASC 842, the Group recognized operating lease assets of

RMB50,570 and total operating lease liabilities of RMB50,089 on the Consolidated Balance Sheets.

For operating lease with a term of one year or less, the Group has elected to not recognize a lease liability or lease

right-of-use

asset on its Consolidated Balance Sheets. Instead, it recognizes the lease payments as expenses on a straight-line basis over the lease term. Short-term lease costs are immaterial to its Consolidated Statements of Comprehensive Loss.

2.21 Taxation

Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. The Group accounts for deferred income taxes under the liability method in accordance with ASC 740,

Income Tax

. Under this method, deferred tax assets and liabilities are recognized for the tax consequences attributable to differences between carrying amounts of existing assets and liabilities in the financial statements and their respective tax basis, and operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. 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. Valuation allowances are established when necessary to reduce the amount of deferred tax assets if it is considered more likely than not that amount of the deferred tax assets will not be realized.

The Group recognizes in its consolidated financial statements the benefit of a tax position if the tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold is measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Group estimates its liability for unrecognized tax benefits which are periodically assessed and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The ultimate outcome for a particular tax position may not be determined with certainty prior to the conclusion of a tax audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Group’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Group’s consolidated financial statements in the period in which the audit is concluded. Additionally, in future periods, changes in facts, circumstances and new information may require the Group to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition

and measurement estimates are recognized in the period in which the changes occur. As of December 31, 2020 and 2021, the Group did not have any significant unrecognized uncertain tax positions.

2.22 Statutory reserves

The

Company’s subsidiaries, consolidated VIE and VIE’s subsidiaries established in the PRC are required to make appropriations to

certain non-distributable reserve

funds.

In accordance with the laws applicable to the

foreign investment enterprises

established in the PRC, the Group’s subsidiaries registered as wholly-owned foreign

enterprises

have to make appropriations from

their after-tax profits

as determined under generally accepted accounting principles in the PRC (“PRC GAAP”) to reserve funds including general reserve fund, enterprise expansion fund and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of

the after-tax profits

calculated in accordance with PRC GAAP. Appropriation is not required if the general reserve fund has reached 50% of the registered capital of the company. Appropriations to the enterprise expansion fund and staff bonus and welfare fund are made at the respective company’s discretion.

In addition, in accordance with the PRC Company Law, the Group’s consolidated VIE and VIE’s subsidiaries, registered as Chinese domestic companies, must make appropriations from

their after-tax profits

as determined under the PRC GAAP

to non-distributable reserve

funds including statutory surplus fund and discretionary surplus fund on an annual basis. The appropriation to the statutory surplus fund must be 10% of

the after-tax profits

as determined under PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the company. Appropriation to the discretionary surplus fund is made at the discretion of the respective company.

The use of the general reserve fund, enterprise expansion fund, statutory surplus fund and discretionary surplus fund are restricted to the offsetting of losses or increasing of the registered capital of the respective company. The staff bonus and welfare fund is a liability in nature and is restricted to fund payments of special bonus to employees and for the collective welfare of employees. None of these reserves are allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor can they be distributed except under liquidation.

No appropriation to any reserve fund was made for the years ended December 31, 2019, 2020 and 2021.

2.23 Comprehensive income/(loss)

Comprehensive income/(loss) is defined as the change in equity of a company during a period from transactions and other events and circumstances excluding those resulting from investments by shareholders and distributions to shareholders. The Group recognizes foreign currency translation adjustments as other comprehensive income/(loss) in the Consolidated Statements of Comprehensive Loss. As such adjustments do not incur income tax obligations, there are no tax adjustments to arrive at other comprehensive income/(loss) on a

net-of-tax

basis.

2.24 Segment reporting

ASC 280,

Segment Reporting

, establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas and major customers.

Based on the criteria established by ASC 280, the Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer (the “CEO”), who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long-lived assets are substantially located in the PRC and substantially all the Group’s revenue is derived from entities within the PRC, no geographical segments are presented.

2.25 Loss per share

Basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. The net loss will be adjusted by deducting (1) dividends declared in the period on preferred shares (if any), (2) cumulative dividends on preferred shares (whether or not declared) and (3) deemed dividends as required by U.S. GAAP. Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares and potential ordinary shares outstanding during the period. Potential ordinary shares consist of shares issuable upon the conversion of the preferred shares using

the if-converted method,

for periods prior to the completion of the IPO, unvested RSUs and shares issuable upon the exercise of share options using the treasury stock method. The computation of diluted net loss per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect.

The

two-class

method is used for computing earnings per share in the event the Group has net income available for distribution. Using the two-class method, net income is allocated between ordinary shares and other participating securities based on their participating rights, if applicable. Prior to the completion of the IPO, the computation of basic loss per share using

the two-class method

is not applicable as the Company is in a net loss position and the participating securities do not have contractual obligations to share in the loss of the Company. After the completion of the IPO, net loss per share is computed on Class A ordinary shares and Class B ordinary shares combined basis, because both classes have the same dividend rights in the Company’s undistributed net income.

2.26 Recent accounting pronouncements

In June 2016, the FASB amended guidance related to the expected credit loss of financial instruments as part of

ASU 2016-13,

Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial

Instruments

. In November 2019, the FASB issued ASU

2019-10,

which amends the effective date for credit losses as follows: for public business entities that meet the definition of an SEC filer, excluding entities eligible to be SRCs as defined by the SEC, the standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years; for all other entities, the standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The standard is effective for the Group’s fiscal year beginning January 1, 2023. The ASU is not expected to have a material impact on the consolidated financial statements.

In December 2019, the FASB issued

ASU 2019-12,

Simplifying the Accounting for Income Taxes

, to remove specific exceptions to the general principles in Topic 740 and to simplify accounting for income taxes. The standard is effective for public companies for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the standard is effective for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The standard is effective for the Group’s fiscal year beginning January 1, 2022. The ASU is currently not expected to have a material impact on the consolidated financial statements.

Concentration and Risks	12 Months Ended
Concentration and Risks	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentration and Risks	3. CONCENTRATION AND RISKS 3.1 Concentration of credit risk Financial instruments that potentially expose the Group to the concentration of credit risk primarily consist of cash and cash equivalents and short-term investments. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. The Group places its cash and cash equivalents and short-term investments with financial institutions with high-credit ratings and quality. The Group hasn’t noted any significant credit risk. 3.2 Concentration of customers and suppliers Substantially all revenue s w ere derived from customers located in China. There are no customers or suppliers from whom revenues or purchases individually represent greater than 10% of total revenues or total purchases of the Group in any of the periods presented. 3.3 Foreign currency exchange rate risk In July 2005, the PRC government changed its decades-old policy of pegging the value of the RMB to the US$, and the RMB appreciated more than 20% against the US$ over the following three years. Between July 2008 and June 2010, this appreciation halted and the exchange rate between the RMB and the US$ remained within a narrow band. Since June 2010, the RMB has fluctuated against the US$, at times significantly and unpredictably. The depreciation of the RMB against the US$ was approximately 1.7% in 2019. The appreciation of the RMB against the US$ was approximately 6.5% and 2.3% in 2020 and 2021 , respectively . It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the US$ in the future.

Short-Term Investments

12 Months Ended

Dec. 31, 2021

Short-term Investments [Abstract]

Short-Term Investments

4. SHORT-TERM INVESTMENTS


	As of December 31,
	2020		2021
	RMB		RMB
Wealth management products		536,401		884,996

The investment income from wealth management products for the years ended December

31, 2019, 2020 and 2021 was RMB9,718,

9,095 and

24,744, respectively.

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Prepayments and Other Current Assets

5. PREPAYMENTS AND OTHER CURRENT ASSETS


	As of December 31,
	2020		2021
	RMB		RMB
Prepaid marketing expenses and service fee		47,398		234,490
Receivables from third-party on-line payment platforms		41,221		63,866
Deposits		37,780		63,814
Staff loans and advances		32,902		52,695
Receivables related to the exercise of share-based awards*		—		289,822
Others		5,609		19,896

Total		164,910		724,583

It represented receivables from a third-party share option brokerage platform and certain employees for the exercise of share options, which were settled before these consolidated financial statements are issued.

Property, Equipment and Software, Net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Equipment and Software, Net

6. PROPERTY, EQUIPMENT AND SOFTWARE, NET

Property, equipment and software, net consist of the following:


	As of December 31,
	2020			2021
	RMB			RMB
Electronic equipment		204,805			429,683
Leasehold improvement		39,460			65,885
Furniture and fixtures		9,486			12,784
Motor vehicles		2,316			3,904
Software		1,615			3,126

Total cost		257,682			515,382
Less: accumulated depreciation		(66,327	)		(146,256	)

Total property, equipment and software, net		191,355			369,126

Depreciation expenses were RMB17,971, RMB41,004 and RMB80,009 for the years ended December 31, 2019, 2020 and 2021, respectively.

Accounts Payable

12 Months Ended

Dec. 31, 2021

Accounts Payable, Current [Abstract]

Accounts Payable

7. ACCOUNTS PAYABLE


	As of December 31,
	2020		2021
	RMB		RMB

Payable s for marketing expenses		16,831		30,646
Payables for purchase of property, equipment and software		22,344		19,987
Others		2,681		2,330

Total		41,856		52,963

Other Payables and Accrued Liabilities

12 Months Ended

Dec. 31, 2021

Other Payables and Accrued Liabilities [Abstract]

Other Payables and Accrued Liabilities

8. OTHER PAYABLES AND ACCRUED LIABILITIES


	As of December 31,
	2020		2021
	RMB		RMB

Salary, welfare and bonus payable		260,123		373,286
Tax payable (1)		21,704		218,419
Virtual accounts used in the Group’s platform (2)		24,815		41,070
Payable s to shareholders (3)		103,596		—
Others		8,021		12,363

Total		418,259		645,138

(1)

Tax payable mainly included value-added tax, enterprise income tax and individual income tax payable mainly related to the exercise of share options.

(2)

It represents the cash balance that customers deposited into their own virtual accounts in the Group’s platform, which they have rights to withdraw without any conditions.

(3)

As of December 31, 2020, Huapin received RMB103,596 from certain preferred shareholders during Series

C-3

and Series E financing. However, these funds had not yet been received by the Company level due to certain regulation limitations. Accordingly, the Company recorded the related subscription receivables from shareholders in the mezzanine equity section as of December 31, 2020. And the outstanding balance was settled in cash in 2021.

Operating Lease

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Operating Lease

9. OPERATING LEASE

The Group has operating leases primarily for office. The components of lease expenses are as follows:


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB

Operating lease expenses		42,508		71,706		116,091
Expenses for short-term lease within 12 months		9,245		2,167		2,177

Total lease expenses		51,753		73,873		118,268

Supplemental balance sheet information related to operating lease is as follows:


	As of December 31,
	2020		2021
	RMB		RMB

Right-of-use assets		144,063		309,085

Lease liabilities, current		59,559		127,531
Lease liabilities, non-current		76,373		183,365

Total lease liabilities		135,932		310,896

Supplemental cash flow information related to operating lease is as follows:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB

Cash paid for amounts included in the measurement of lease liabilities		42,620			72,138			102,154
Right-of-use assets obtained in exchange for operating lease liabilities		87,054			112,871			274,358
Weighted average remaining lease term (in years)		3.48			3.75			3.26
Weighted average discount rate		4.75	%		4.75	%		4.82	%

Maturities of lease liabilities are as follows:


	As of December 31, 2021
	RMB
2022		131,573
2023		96,778
2024		47,191
2025		35,492
2026		25,451
Thereafter		1,834

Total undiscounted lease payments		338,319
Less: imputed interest		(27,423	)

Total lease liabilities		310,896

Other Operating Income, Net

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Other Operating Income, Net

10. OTHER OPERATING INCOME, NET


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
VAT-in super deduction *		2,412		7,981		12,423
Others		161		868		2,554

Total		2,573		8,849		14,977

In accordance with the Announcement on Relevant Policies for Deepening the Value-added Tax Reform and relevant government policies announced by the Ministry of Finance, the State Taxation Administration and the General Administration of Customs of China, Huapin and Glory, as consumer service companies, are allowed to enjoy additional 10%

VAT-in

deduction for any services or goods they purchased

(“VAT-in

super deduction”) from April 1, 2019 to December 31, 2021. The

VAT-in

super deduction obtained is considered as operating given that all

VAT-in

was derived from the purchases for daily operations, and therefore is presented in other operating income in the Consolidation Statements of Comprehensive Loss.

Related Party Balances And Transactions

12 Months Ended

Dec. 31, 2021

Related Party Balances And Transactions

11. RELATED PARTY BALANCES AND TRANSACTIONS

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


Name of related parties		Relationship with the Group
Mr. Peng Zhao and companies controlled by him		Founder, Chairman and CEO of the Group and his controlled companies
Image Frame Investment (HK) Limited (under the control of Tencent Holdings Limited)		Principal shareholder of the Group
Individual executive officer		Executive officer of the Group

Details of amounts due from related parties as of December 31, 2020 and 2021 are as follows:


	As of December 31,
	2020		2021
	RMB		RMB
Receivables from Tencent Group’s on-line payment platform (1)		3,018		4,284
Prepaid cloud service fee to Tencent Group (1)		1,556		2,331
Amount due from Mr. Peng Zhao and companies controlled by him (2)		31,132		—
Advance to individual executive officer (3)		5,093		—

Total		40,799		6,615

Details of transactions with related parties for the years ended December 31, 2019, 2020 and 2021 are as follows


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Cloud services from Tencent Group (1)		2,063		6,109		18,119
On-line payment platform clearing services from Tencent Group (1)		836		1,886		5,464
Cash advance to Mr. Peng Zhao (2)		24,930		—		—
Cash advance to individual executive officer (3)		5,093		—		—

Total		32,922		7,995		23,583

(1)

Tencent Group represents companies under the control of Tencent Holdings Limited, including Image Frame Investment (HK) Limited. The Group purchases cloud services and on-line payment platform clearing services from Tencent Group.

(2)

The amount due from Mr. Peng Zhao and companies controlled by him was mainly cash advance with original

one-year

term and bearing no interest, which was settled through the repurchase of Class B ordinary shares from TECHNWOLF LIMITED (Note 13).

(3)

It represents the advance granted to Mr. Tao Zhang, Chief Technology Officer of the Group, which was settled in cash in March 2021.

Taxation

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Taxation

12. TAXATION

(a) Value added tax

The Group is subject to statutory VAT rate of 6% for revenues from online recruitment service in the PRC. Huapin and Glory, as consumer service companies, are allowed to enjoy additional

10% VAT-in super

deduction from April 1, 2019 to December 31, 2021 (Note 10).

(b) Income tax

Cayman Islands

The Company was incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, no Cayman Islands withholding tax will be imposed upon payments of dividends to shareholders.

Hong Kong

Under the current Hong Kong Inland Revenue Ordinance, the Group’s subsidiary in Hong Kong is subject to 16.5% Hong Kong profit tax on its taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiary incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax.

China

Under the PRC Enterprise Income Tax Law (the “EIT Law”), which is effective from January 1, 2008, domestic enterprises and foreign investment enterprises are subject to a uniform enterprise income tax rate of 25%. In accordance with the implementation rules of EIT Law, a qualified “High and New Technology Enterprise” (“HNTE”) is eligible for a preferential tax rate of 15%. The HNTE certificate is effective for a period of three years. An entity

could re-apply for

the HNTE certificate when the prior certificate expires.

Huapin is qualified as a HNTE and enjoys a preferential income tax rate of 15% for the years presented, which will expire in 2022 and need to be re-applied.

According to relevant laws and regulations promulgated by the State Administration of Tax of the PRC effective from 2018 onwards, enterprises engaging in research and development activities are entitled to claim 175% of their qualified research and development expenses incurred as tax deductible expenses when determining their assessable profits for the year. The additional deduction of 75% of qualified research and development expenses can only be claimed directly in the annual EIT filing and subject to the approval from the relevant tax authorities.

United States

The Company’s subsidiary in California, United States is subject to U.S. federal corporate tax and California corporate franchise tax on its taxable income as reported in its statutory financial statements adjusted in accordance with relevant U.S. tax laws. The applicable U.S. federal corporate tax rate is 21% and the California corporate franchise tax rate is 8.84% in 2019, 2020 and 2021.

Components of loss before tax are as follow:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
(Loss)/Income from PRC entities		(483,970	)		(311,483	)		610,813
Loss from overseas entities		(18,085	)		(630,412	)		(1,622,360	)

Total loss before tax		(502,055	)		(941,895	)		(1,011,547	)

Components of income tax expense are as follows:


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Current income tax expense		—		—		59,527

The following table sets forth a reconciliation between the PRC statutory income tax rate of 25% and the Group’ effective tax rate:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
PRC s tatutory income tax rate		25.00	%		25.00	%		25.00	%
Tax rate difference from statutory rate in other jurisdictions (1)		(0.25	)%		(15.82	)%		(37.89	)%
Permanent difference (2)		5.30	%		2.22	%		1.24	%
Effect of preferential tax rates		(10.03	)%		(3.36	)%		5.15	%
Changes in valuation allowance		(19.97	)%		(7.89	)%		(8.38	)%
Others		(0.05	)%		(0.15	)%		9.00	%

Effective tax rate		—			—			(5.88	)%

(1)

The tax rate difference was mainly attributed to net loss of the Company, which is located in the Cayman Islands and exempted from income tax.

(2)

The permanent differences are primarily related to additional tax deductions for qualified research and development expenses offset by

non-deductible

share-based compensation expenses.

The following table sets forth the significant components of the deferred tax assets:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB

Net operating loss carry-forwards		86,628			86,679			70,985
Deductible advertising expenses		87,639			161,842			262,801
Others		1,490			1,511			1,062

Total deferred tax assets		175,757			250,032			334,848
Less: valuation allowance		(175,757	)		(250,032	)		(334,848	)

Total deferred tax assets, net of valuation allowance		—			—			—

As of December 31, 2021, the Group had accumulated tax losses of approximately RMB308.9 million, mainly derived from entities incorporated in the PRC. The tax losses in PRC can be carried forward for five years to offset future taxable profit, and the period is extended to 10 years for entities qualified as HNTE in 2019 and thereafter. The tax losses in Hong Kong can be carried forward with no expiration date. Under the U.S. tax law, majority of the Group’s federal tax losses arose in tax years beginning after December 31, 2017 and can be carried forward indefinitely. California state tax losses can be carried forward for up to 20 years.

The Group considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will be more likely than not realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses and forecasts of future profitability. These assumptions require significant judgment and the forecasts of future taxable income are consistent with the plans and estimates the Group is using to manage the underlying

business

. Valuation allowances are established for deferred tax assets based on a more-likely-than-not threshold. The Group’s ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carry forward periods provided for in the tax law. The Group believes that it is more likely than not that these deferred tax assets will not be utilized in the future. Therefore, the Group has provided full valuation allowances for the deferred tax assets as of December 31, 2019, 2020 and

2021.

Movements of valuation allowance are as follows


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Balance at beginning of the year		75,501		175,757		250,032
Change in valuation allowance		100,256		74,275		84,816

Balance at end of the year		175,757		250,032		334,848

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Ordinary Shares	12 Months Ended
Ordinary Shares	Dec. 31, 2021
Equity [Abstract]
Ordinary Shares	13. ORDINARY SHARES As of January 1, 2019, the Company had 1,500,000,000 shares authorized and 110,000,000 shares issued at a par value of $0.0001 per share. 9,920,000 ordinary shares were issued on May 20, 2014 to TECHWOLF LIMITED, controlled by Mr. Peng Zhao, Founder , Chairman and CEO of the Group, and these ordinary shares were reserved and held by Mr. Peng Zhao on behalf of the Company solely for the purpose of implementing the Company’s share award plan. The Company accounted for these shares as issued but not outstanding and presented as treasury shares in the Consolidated Balance Sheets and Consolidated Statement of Changes in Shareholders’ (Deficit)/Equity throughout all the periods until July 4, 2019, when the Company cancelled these ordinary shares. The original commercial intent behind the arrangement regarding such 9,920,000 ordinary shares was later reflected in the Company’s share award plan, and the whose pool of available shares for future grants encompassed such 9,920,000 shares. As of December 31, 2019, 1,500,000,000 shares had been authorized and 100,080,000 ordinary shares were issued and outstanding. On February 10, 2020, all issued and outstanding ordinary shares of the Company were re-designated as Class B ordinary shares, and each Class B ordinary share was entitled to 10 votes. Mr. Peng Zhao, Founder , Chairman and CEO of the Group was deemed to beneficially own all of the Company’s issued Class B ordinary shares. On August 21, 2020, the Company newly issued a total of 4,122,853 Class A ordinary shares to Coatue PE Asia 26 LLC with a total consideration of US$11,431. Meanwhile, TECHWOLF LIMITED sold a total of 3,752,934 Class B ordinary shares (“Transferred Shares”) to Image Frame Investment (HK) Limited, and immediately after the completion of the transfer, the Company re-designated Transferred Shares into Class A ordinary shares. On September 19, 2020, the Company issued 3,657,853 Class A ordinary shares to TWL Fellows Holding Limited for nominal consideration. TWL Fellows Holding Limited, a consolidated VIE of the Company incorporated on January 14, 2020 in the British Virgin Islands, was established as an employee shareholding vehicle (a “Trust”) for the purpose of implementing the Company’s share award plan. Therefore, the Company’s ordinary shares issued to TWL Fellows Holding Limited are presented as treasury shares in the Consolidated Balance Sheets and Consolidated Statement of Changes in Shareholders’ (Deficit)/Equity. Other than holding the Company’s ordinary shares, the Trust does not have any assets. On November 27, 2020, the Company issued and granted 24,780,971 Class B ordinary shares to TECHWOLF LIMITED ( Note 15 ) . On the same day, the voting rights of a total of 121,108,037 Class B ordinary shares was modified and each Class B ordinary share was entitled to 15 votes. As of December 31, 2020, 1,500,000,000 shares had been authorized; 11,533,640 Class A ordinary shares were issued, out of which 7,875,787 were outstanding, and 121,108,037 Class B ordinary shares were issued and outstanding. On March 12, 2021, TECHWOLF LIMITED transferred a total of 1,965,361 and 1,876,467 Class B ordinary shares to two new external investors named Index Capital International Limited and Duckling Fund L.P., respectively, and those shares were automatically converted into Class A ordinary shares upon the closing of share transfer between the shareholders. In March 2021, the Company repurchased a total of 1,181,339 Class B ordinary shares from TECHWOLF LIMITED at a price of US$5.33 per share. Immediately after the repurchase, those Class B ordinary shares were cancelled. The difference between the purchase price and the fair value of Class B ordinary shares was recorded as additional paid-in capital in the consolidated financial statements. In June 2021, the Company completed its IPO and 110,400,000 Class A ordinary shares were issued with total net proceeds of RMB6,406,872. Upon the completion of the I PO, all of the preferred shares were automatically converted to 551,352,134 Class A ordinary shares. In June 2021, the Company issued and granted 24,745,531 Class B ordinary shares to TECHWOLF LIMITED ( Note 1 5 ) . As of December 31, 2021, 1,500,000,000 shares had been authorized; 748,953,103 Class A ordinary shares were issued, out of which 727,855,233 Class A ordinary shares were outstanding, and 140,830,401 Class B ordinary shares were issued and outstanding. The treasury shares as of December 31, 2021 represent ordinary shares issued to the depositary bank and reserved for future exercise or vesting of share award plan.

Convertible Redeemable Preferred Shares

12 Months Ended

Dec. 31, 2021

Convertible Redeemable Preferred Shares [Abstract]

Convertible Redeemable Preferred Shares

14. CONVERTIBLE REDEEMABLE PREFERRED SHARES

On May 20, 2014, the Company entered into a shares purchase agreement with certain investors, pursuant to which 60,000,000 Convertible Redeemable Series A Preferred Shares (“Series A Preferred Shares”) were issued on May 20, 2014 for an aggregated consideration of US$3,000. The Company incurred issuance costs of US$20 in connection with this offering.

On December 16, 2014, the Company entered into a shares purchase agreement with certain investors, pursuant to which 26,666,667 Convertible Redeemable Series B Preferred Shares (the “Series B Preferred Shares”) were issued on December 16, 2014 for an aggregated consideration of US$4,000. The Company incurred issuance costs of US$41 in connection with the offering of Series B Preferred Shares. Besides, the Company also issued 13,333,333 Series B Preferred Shares to TECHWOLF LIMITED, controlled by Mr. Peng Zhao, the Company’s

ounder,

hairman and

CEO

, with no consideration received.

On April 8, 2015, the Company entered into a shares purchase agreement with certain investors, pursuant to which 48,000,000 Convertible Redeemable Series C Preferred Shares (the “Series C Preferred Shares”) were issued on April 8, 2015 for an aggregated consideration of US$10,000. The Company incurred issuance costs of US$40 in connection with this offering. Besides, the Company repurchased a total of 13,333,333 Series B Preferred Shares issued to TECHWOLF LIMITED at par value. Those Series B Preferred Shares were sold to one of previous Series B investor on April 8, 2015 at the Series B Preferred Shares issuance price.

On July 7, 2016, the Company entered into a shares purchase agreement with certain investors, pursuant to which 45,319,316 Convertible Redeemable Series

C-1

Preferred Shares (the “Series C Preferred Shares”, “Series

C-1

Preferred Shares

”

“

Series C Preferred Shares Tranche I”) were issued on July 7, 2016 for an aggregated consideration of US$12,508. The Company incurred issuance costs of US$86 in connection with this offering of Series

C-1

Preferred Shares Tranche I.

On August 15, 2016, the Company entered into a shares purchase agreement with certain investors, pursuant to which 42,251,744 Convertible Redeemable

Series C-2 Preferred

Shares (the “Series C Preferred Shares”,

“Series

C-2

Preferred Shares” or “Series C Preferred Shares Tranche II”) were issued on August 15, 2016 for an aggregated consideration of US$18,000. The Company incurred issuance costs of US$100 in connection with this offering.

On February 10, 2017, the Company entered into a shares purchase agreement with certain investors, pursuant to which 11,497,073 Convertible Redeemable Series

C-3

Preferred Shares (the “Series C Preferred Shares”, “

Series

C-3

Preferred Shares” or “Series

C Preferred Shares Tranche III”) were issued on February 10, 2017 for an aggregated consideration of US$6,001. The Company incurred issuance costs of US$32 in connection with this offering.

On November 2, 2017, the Company entered into a shares purchase agreement with certain investors, pursuant to which 60,856,049 Convertible Redeemable Series D Preferred Shares (the “Series D Preferred Shares”) were issued on November 2, 2017 for an aggregated consideration of US$43,394. The Company incurred issuance costs of US$1,132 in connection with this offering.

On December 18, 2018, the Company entered into a shares purchase agreement with certain investors, pursuant to which 83,474,263 Convertible Redeemable Series E Preferred Shares (the “Series E Preferred Shares”) were issued on December 18, 2018 for an aggregated consideration of US$130,000. The Company incurred issuance costs of US$3,376 in connection with this offering.

On March 8, 2019, the Company entered into a shares purchase agreement with certain investors, pursuant to which 32,373,031 Convertible Redeemable Series E+ Preferred Shares (the “Series E Preferred Shares”, “Series

E-1

Preferred

Shares”

“

Series E Preferred Shares Tranche I”) were issued on March 8, 2019 for an aggregated consideration of US$55,000. The Company incurred issuance costs of US$1,982 in connection with this offering.

On July 4, 2019, the Company entered into a shares purchase agreement with certain investors, pursuant to which 28,226,073 Convertible Redeemable Series

E-2

Preferred Shares (the “Series E Preferred Shares”, “Series

E-2

Preferred

Shares”

“

Series E Preferred Shares Tranche II”) were issued on July 4, 2019 for an aggregated consideration of US$50,000. The Company incurred issuance costs of US$1,917 in connection with this offering.

On February 10, 2020, the Company entered into a shares purchase agreement with certain investors, pursuant to which 48,689,976 Convertible Redeemable Series F Preferred Shares (the “Series F Preferred Shares”) were issued on February 10, 2020 for an aggregated consideration of US$150,000. The Company incurred issuance costs of US$1 in connection with this offering.

On November 27, 2020, the Company entered into a shares purchase agreement with certain investors, pursuant to which 50,664,609

Convertible Redeemable Series F+ Preferred Shares (the “Series F Preferred Shares” or “Series F-plus Preferred Shares”) were issued on November 27, 2020 for an aggregated consideration

of US$270,000. The Company incurred issuance costs of US$3,080 in connection with this offering.

The Series A, B, C, D, E and F Preferred Shares are collectively referred to as the Preferred Shares. The holders of Preferred Shares are collectively referred to as the Preferred Shareholders. The key terms of the Preferred Shares issued by the Company are as follows:

Conversion rights

Optional conversion

Each Series A, B, C, D, E and F Preferred Share shall be convertible, at the option of the holder thereof, at any time and without the payment of additional consideration by the holder thereof, into such number of Class A ordinary shares as determined by the quotient of the applicable issue price divided by the then effective applicable conversion price with respect to such particular series of Preferred Shares, which shall initially be the applicable issue price for the Series A

B, C, D, E and F Preferred Shares, as the case may be, resulting in an initial conversion ratio for the Preferred Shares of 1:1, and shall be subject to adjustment and readjustment from time to time, including but not limited to additional equity securities issuances, share dividends, distributions, subdivisions, redemptions, combinations, or reorganizations, mergers, consolidations, reclassifications, exchanges or substitutions.

Automatic conversion

Each Preferred Share is convertible, at the option of the holder, at any time after the date of issuance of such Preferred Shares according to a conversion ratio, subject to adjustments for dilution, including but not limited to stock splits, stock dividends and capitalization and certain other events. Each Preferred Share is convertible into a number of ordinary shares determined by dividing the applicable original issuance price by the conversion price (initially being 1 to 1 conversion ratio). The conversion price of each Preferred Share is the same as its original issuance price and no adjustments to conversion price have occurred so far.

Each Series A, B, C, D, E and F Preferred Share shall automatically be converted into Class A ordinary shares, at the then applicable preferred share conversion price upon (i) closing of a Qualified Initial Public Offering (“Qualified IPO”), or (ii) the written approval of the holders of a majority of each series of Preferred Shares (calculated and voting separately in their respective single class on an

as-converted

basis).

Prior to the Series D Preferred Shares issuance on November 2

, 2017

, a “Qualified IPO” was defined as an initial public offering with gross proceeds no

less than US$60 million and capitalization of the Company of no less than US$350 million prior to such initial public offering. Upon the issuance of Series D Preferred Shares, the gross proceeds and market capitalization criteria for a “Qualified IPO” were increased to US$90 million and

US$900 million, respectively. Upon the issuance of Series E Preferred Shares, the gross proceeds and market capitalization criteria for a “Qualified IPO” were increased to US

$100

million and US$2,000 million, respectively. Upon the issuance of Series F Preferred Shares, the gross proceeds and market capitalization criteria for a “Qualified IPO” were increased to US$100 million and US$3,300 million, respectively. Upon the issuance of Series

F-plus

Preferred Shares, the gross proceeds and market capitalization criteria for a “Qualified IPO” were increased to US$300 million and US$5,000 million, respectively.

Voting rights

Each holder of Series A, B, C, D, E and F Preferred Shares is entitled to cast the number of votes equal to the number of Class A ordinary shares such Preferred Shares would be entitled to convert into at the then

effective conversion price. There was a modification to the voting rights of the shares controlled by Mr. Peng Zhao when the Series F and Series

F-plus

Preferred Shares were issued as follows:

•

the voting rights of shares controlled by Mr. Peng Zhao was modified to carry 10 votes in connection with the Series F Preferred Shares financing; and

•

the voting rights of shares controlled by Mr. Peng Zhao was modified to carry 15 votes in connection with the Series

F-plus

Preferred Shares financing.

Dividend rights

Each Preferred Share shall have the right to receive dividends, on an

as-converted

basis, when, as and if declared by the Board. No dividend shall be paid on the ordinary shares at any time unless and until all dividends on the Preferred Shares have been paid in full. No dividends on preferred and ordinary shares have been declared since the issuance date.

Liquidation preference

In the event of any liquidation (unless waived by the majority of Preferred Shareholders) including deemed liquidation, dissolution or winding up of the Company, Preferred Shareholders shall be entitled to receive a per share amount equal to 100% of the original preferred share issuance price of the respective series of Preferred Shares, as adjusted for share dividends, share splits, combinations, recapitalizations or similar events, plus all accrued and declared but unpaid dividends thereon, in the sequence of Series F Preferred Shares, Series E Preferred Shares, Series D Preferred Shares, Series C Preferred Shares, Series B Preferred Shares, and Series A Preferred Shares. After such liquidation amounts have been paid in full, any remaining funds or assets of the Company legally available for distribution to shareholders shall be distributed on a pro rata, pari passu basis among the holders of the Preferred Shares, on an

as-converted

basis, together with the holders of the ordinary shares.

Redemption rights

At any time commencing on a date specified in the shareholders’ agreement (the “Redemption Start Date”), holders of majority (more than 50%) of the then outstanding Series A, B, C, D, E, and F Preferred Shares may request a redemption of the Preferred Shares of such series. On receipt of a redemption request from the holders, the Company shall redeem all or part, as requested, of the outstanding Preferred Shares of such series.

The Redemption Start Date of Preferred Shares have been amended for a number of times historically. If any holder of any series of Preferred Shares exercises its redemption right, any holder of other series of Preferred Shares shall have the right to exercise the redemption of its series at the same time.

The redemption prices have been modified historically. Prior to the issuance of Series F Preferred Shares, the price at which each Preferred Share shall be redeemed shall equal to the original Preferred Shares issue price for such series plus 10% compound interest per annum (calculated from the issuance dates of the respective series of Preferred Shares), and declared but unpaid dividends. Upon the issuance of Series F Preferred Shares, the price at which each Preferred Share shall be redeemed shall equal to the original Preferred Shares issue price for such series plus 8% simple interest per annum (calculated from the issuance dates of the respective series of Preferred Shares), and declared but unpaid dividends.

If on the redemption date triggered by the occurrence of any redemption event, the Company’s assets or funds which are legally available are insufficient to pay in full the aggregate redemption price for Preferred Shares requested to be redeemed, upon the request of a redeeming shareholder, the Company shall execute and deliver a

two-year

note, bearing an interest of ten percent (10%) per annum and with repayment of the principal and interest to be made on a monthly basis over a period of twenty-four (24) months. Preferred Shares subject to redemption with respect to which the Company has become obligated to pay the redemption price but which it has not paid in full shall continue to have all the rights and privileges which such Preferred Shareholders had prior to such date, until the redemption price has been paid in full with respect to such Preferred Shares.

Conversion upon IPO

In June 2021, upon the completion of IPO, all

the Preferred Shares were automatically converted to 551,352,134 Class A ordinary shares

based on the aforementioned conversion price

Accounting for preferred shares

The Company classified the Preferred Shares in the mezzanine section of the Consolidated Balance Sheets because they were redeemable at the holders’ option any time after a certain date and were contingently redeemable upon the occurrence of certain liquidation event outside of the Company’s control. The Preferred Shares are recorded initially at fair value, net of issuance costs.

The Company records accretion on the Preferred Shares, where applicable, to the redemption value from the issuance dates to the earliest redemption dates. The accretion, calculated using the effective interest method, is recorded against retained earnings, or in the absence of retained earnings, by charging against additional

paid-in

capital. Once additional

paid-in

capital has been exhausted, additional charges are recorded by increasing the accumulated deficit. The accretion of Preferred Shares was RMB232,319 (US$33,529), RMB283,981 (US$41,546) and RMB164,065 (US$25,284) for the years ended December 31, 2019, 2020 and 2021, respectively.

The Company has determined that, under the whole instrument approach, host contract of the Preferred Shares is more akin to a debt host, given the Preferred Shares holders have potential creditors’ right in the event of insufficient fund upon redemption, along with other debt-like features in the terms of the Preferred Shares, including the redemption rights. However, the Company determined that the embedded feature, including conversion feature, do not require bifurcation as they either are clearly and closely related to the host or do not meet definition of a derivative.

The Company has determined that there was no beneficial conversion feature attributable to all preferred shares because the initial effective conversion prices of these preferred shares were higher than the fair value of the Company’s ordinary shares determined by the Company with the assistance from an independent third-party appraiser.

Modification of preferred shares

The Company assesses whether an amendment to the terms of its convertible redeemable preferred shares is an extinguishment or a modification based on a qualitative evaluation of the amendment. If the amendment adds, removes, significantly changes to a substantive contractual term or to the nature of the overall instrument, the

amendment results in an extinguishment of the preferred shares. The Company also assess if the change in terms results in value transfer between Preferred Shareholders or between Preferred Shareholders and ordinary shareholders.

When convertible redeemable preferred shares are extinguished, the difference between the fair value of the consideration transferred to the convertible redeemable Preferred Shareholders and the carrying amount of such preferred shares (net of issuance costs) is treated as a deemed dividend to the Preferred Shareholders. When convertible redeemable preferred shares are modified and such modification results in value transfer between Preferred Shareholders and ordinary shareholders, the change in fair value resulted from the amendment is treated as a deemed dividend to or from the Preferred Shareholders.

Preferred

hares modification were mainly included below:

•

Starting from the issuance of Series C Preferred Shares, optional redemption date of each

pre-existing

preferred shares was modified and extended to the fifth anniversary of each newly issued series of Preferred Shares applicable closing date; and

•

On February 10, 2020, the Redemption Start Date of Series A, B, C, D, and E Preferred Shares was extended from July 5, 2024 to February 10, 2025, which is to be in line with the optional redemption date of Series F Preferred Shares. In the meanwhile, redemption price interest rate was lowered from 10% compound interest per annum to 8% simple interest per annum commencing from Series F Preferred Shares original issuance date and ending on the date of redemption.

From both quantitative and qualitative perspectives, the Company assessed the impact of these modifications and concluded that they represent a modification rather than extinguishment of

pre-existing

preferred shares, and the impact of the modification is immaterial.

The Company’s convertible redeemable preferred shares activities for the years ended December 31, 2019, 2020 and 2021 are summarized below:


	Series A Preferred Shares						Series B Preferred Shares						Series C Preferred Shares						Series D Preferred Shares						Series E Preferred Shares						Series F Preferred Shares						Total
	Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)
Balance as of January 1, 2019		60,000,000			30,144			40,000,000			56,554			147,068,133			400,950			60,856,049			317,533			83,474,263			874,107			—			—			391,398,445			1,679,288
Issuance of Series E Preferred Shares Tranche I and II, net of issuance cost		—			—			—			—			—			—			—			—			60,599,104			691,894			—			—			60,599,104			691,894
Accretion on convertible redeemable preferred shares to redemption value		—			3,290			—			6,231			—			42,417			—			35,053			—			145,328			—			—			—			232,319

Balance as of December 31, 2019		60,000,000			33,434			40,000,000			62,785			147,068,133			443,367			60,856,049			352,586			144,073,367			1,711,329			—			—			451,997,549			2,603,501

Issuance of Series F Preferred Shares, net of issuance cost		—			—			—			—			—			—			—			—			—			—			99,354,585			2,803,114			99,354,585			2,803,114
Accretion on convertible redeemable preferred shares to redemption value		—			2,743			—			5,191			—			35,198			—			28,196			—			133,704			—			78,949			—			283,981

Balance as of December 31, 2020		60,000,000			36,177			40,000,000			67,976			147,068,133			478,565			60,856,049			380,782			144,073,367			1,845,033			99,354,585			2,882,063			551,352,134			5,690,596

Accretion on convertible redeemable preferred shares to redemption value		—			1,057			—			2,006			—			13,580			—			10,823			—			51,072			—			85,527			—			164,065
Conversion of preferred shares to ordinary shares		(60,000,000	)		(37,234	)		(40,000,000	)		(69,982	)		(147,068,133	)		(492,145	)		(60,856,049	)		(391,605	)		(144,073,367	)		(1,896,105	)		(99,354,585	)		(2,967,590	)		(551,352,134	)		(5,854,661	)

Balance as of December 31, 2021		—			—			—			—			—			—			—			—			—			—			—			—			—			—

Share-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

15. SHARE-BASED COMPENSATION

(a) Share options

Since 2014, the Company has granted options to certain directors, executive officers and employees. The maximum aggregate number of ordinary shares that are authorized to be issued under the Company’s share award plans is 145,696,410 as of December 31, 2021. The share options have a contractual term of ten years.

Share options granted contained service conditions. With respect to the service conditions, there are 3 types of vesting schedule, which are: (i) 25% of the share options shall become vested on each anniversary of the vesting commencement date for 4 years thereafter; (ii) 50% of the share options shall become vested on each anniversary of the vesting commencement date for 2 years thereafter; (iii) immediately vested upon grant.

For share options contained service conditions only, those awards are measured at the grant date fair value and recognized as expenses over the requisite service period, which is the vesting period. For certain options granted to employees, even though the service condition might have been satisfied, employees are required to provide continued service through the occurrence of an IPO or change of control (“Trigger Event”). Given the vesting of these share options granted is contingent upon the occurrence of Trigger Event, no share-based compensation expenses were recognized for these share options until the completion of the IPO in June 2021, when cumulative share-based compensation expenses for the awards that have satisfied the service condition were recorded.

The following table sets forth the activities of share options for the years ended December 31, 2019, 2020 and 2021:


	Number of options			Weighted average exercise price		Weighted average remaining contractual life		Aggregate intrinsic value		Weighted average grant–date fair value
				US$		In Years		US$		US$
Outstanding as of January 1, 2019		67,784,739			0.50		7.64		22,714		0.12
Granted		25,679,294			1.45
Forfeited		(7,242,312	)		0.84

Outstanding as of December 31, 2019		86,221,721			0.76		7.22		65,994		0.27

Granted		26,509,592			2.42
Forfeited		(5,597,960	)		1.00

Outstanding as of December 31, 2020		107,133,353			1.16		6.84		226,639		0.64

Granted		32,710,153			4.14
Exercised		(54,385,484	)		0.55
Forfeited		(2,982,054	)		1.98

Outstanding as of December 31, 2021		82,475,968			2.71		8.05		1,214,916		2.82

Vested and expected to vest as of December 31, 2021		82,475,968			2.71		8.05		1,214,916		2.82
Exercisable as of December 31, 2021		22,421,874			1.27		6.70		362,469		0.86

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the estimated fair value of the underlying stock at each reporting date.

(a) Share options (continued)

As of December 31, 2021, there were US$177,224 of unrecognized compensation expenses related to share options, which are expected to be recognized over a weighted-average period of 3.19 years and may be adjusted for future forfeitures.

The Company uses binomial option-pricing model to determine the fair value of the share options as of the grant dates. Key assumptions (or ranges thereof) are set as below:


	For the year ended December 31,
	2019		2020		2021
Fair value of ordinary shares on the date of option grant (US$)		1.01 - 1.52		1.84 - 3.27		6.78 - 18.09
Risk-free interest rate (1)		1.80% -2.76%		0.82% - 1.70%		1.6% - 2.0%
Expected term (in years)		10		10		10
Expected dividend yield (2)		0%		0%		0%
Expected volatility (3)		56.1% - 57.8%		56.5% -59.0%		58.8% - 59.8%
Expected early exercise multiple		2.2x-2.8x		2.2x-2.8x		2.2x-2.8x

(1)

The risk-free interest rate of periods within the contractual life of the share option is based on the market yield of U.S. Treasury Strips 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.

(b) RSUs

After the completion of the Company’s IPO in June 2021, the Company started to grant RSUs to employees. One RSU represents a right relating to one Class A ordinary share of the Group. The RSUs were granted only with service conditions and shall vest over a period of four years with 25% vesting on each anniversary of the vesting commencement date. The fair value of the RSUs is estimated based on the fair market value of the underlying ordinary share of the Company on the grant date.

The following table summarizes activities of the Company’s RSUs granted to employees:


	Number of RSUs		Weighted average grant-date fair value
			US$
Outstanding as of January 1, 2021		—		—
Granted		3,521,118

Outstanding as of December 31, 2021		3,521,118		19.05

As of December 31, 2021, there were US$65,995 of unrecognized compensation expenses related to RSUs, which are expected to be recognized over a weighted-average period of 3.86 years and may be adjusted for future forfeitures.

The following table sets forth the amount

of share-based compensation expenses included in each of the relevant financial statement line items:


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Cost of revenues		944		1,920		31,467
Sales and marketing expenses		8,443		21,473		73,733
Research and development expenses		13,595		30,883		137,820
General and administrative expenses *		11,268		602,960		1,680,626

Total		34,250		657,236		1,923,646

In November 2020 and June 2021, the Company

granted

24,780,971 and 24,745,531 Class B ordinary shares to TECHWOLF LIMITED

, and recorded

RMB533.1 million and RMB1,506.4 million

of share-based compensation expenses in general and administrative expenses for the years ended December 31, 2020 and 2021, respectively (Note 13).

Basic And Diluted Net Loss Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Basic And Diluted Net Loss Per Share

16. BASIC AND DILUTED NET LOSS PER SHARE

The computation of basic and diluted

net

loss per share for the years ended December 31, 2019, 2020 and 2021 is as follows:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Numerator
Net loss		(502,055	)		(941,895	)		(1,071,074	)
Accretion on convertible redeemable preferred shares to redemption value		(232,319	)		(283,981	)		(164,065	)

Net loss attributable to ordinary shareholders		(734,374	)		(1,225,876	)		(1,235,139	)

Denominator
Weighted average number of ordinary shares used in computing net loss per share
—Basic and diluted		107,114,306			111,172,986			529,343,027
Net loss per share attributable to ordinary shareholders
—Basic and diluted		(6.86	)		(11.03	)		(2.33	)

As the Group incurred loss for the years ended December 31, 2019, 2020 and 2021, the ordinary share equivalents, including preferred shares, share options and RSUs granted, were anti-dilutive and excluded from the computation of diluted net loss per share. The weighted average numbers of these ordinary share equivalents for the periods presented were as follows:


	For the year ended December 31,
	2019		2020		2021
P referred shares		431,914,761		500,211,192		251,440,808
Share options and RSUs		38,394,825		60,853,313		78,376,179

Commitments And Contingencies	12 Months Ended
Commitments And Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	17. COMMITMENTS AND CONTINGENCIES Commitments The Group engaged third parties for promoting its brand image through various advertising channels. The amount of advertising commitments relates to the committed advertising services that have not been delivered and paid. As of December 31, 2021, future minimum advertising commitments under non-cancelable agreements are RMB132.1 million. Contingencies The Group and certain of the officers and directors have been named as defendants in a putative securities class action filed on July 12, 2021. The action alleges that the Group made false and misleading statements regarding the business, operations and compliance policies in violation of the Sections 10(b) and 20(a) of the U.S. Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. The case remains in its preliminary stage and the Group is unable to predict the outcome of the case, or reasonably estimate a range of possible loss, if any, given the current status of the case. The Group records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Group reviews the need for any such liability on a regular basis. The Group has not recorded material liabilities in this regard as of December 31, 2021.

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

18. FAIR VALUE MEASUREMENTS

As of December 31, 2020 and 2021, information about inputs into the fair value measurement of the Group’s assets that are measured or disclosed at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:

Fair value measurement at reporting date using

Description

Fair value

Quoted prices in active
markets for identical assets
(Level 1)

Significant other
observable inputs
(Level 2)

Significant
unobservable
inputs
(Level 3)

RMB

As of December 31,
2020:

Short-term investments

536,401

—

536,401

—

As of December 31,
2021:

Short-term investments

884,996

—

884,996

—

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. For short-term investments, which consists of wealth management products, the Group refers to the quoted rate of return provided by financial institutions at the end of each period using the discounted cash flow method. The Group classifies the valuation techniques as Level 2 of fair value measurement.

- Definition

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

+ References + Details

Restricted Net Assets	12 Months Ended
Restricted Net Assets	Dec. 31, 2021
Restricted Net Assets [Abstract]
Restricted Net Assets	19. RESTRICTED NET ASSETS In accordance with the laws applicable to foreign investment enterprises established in the PRC, the Group’s subsidiaries registered as wholly-owned foreign enterprises must make appropriations from after-tax profits (as determined under PRC GAAP) to reserve funds including general reserve fund, enterprise expansion fund and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the after-tax profits until such reserve fund has reached 50% of the enterprise’s registered capital. The a ppropriation to enterprise expansion fund and staff bonus and welfare fund is at the discretion of the respective company. Additionally, in accordance with the PRC Company Law, the Group’s consolidated VIE and VIE’s subsidiaries must make appropriations from after-tax profits (as determined under the PRC GAAP) to statutory surplus fund and discretionary surplus fund. The appropriation to the statutory surplus fund is at least 10% of the after-tax profits until such reserve fund has reached 50% of the company’s registered capital. The appropriation to discretionary surplus fund is at the discretion of the respective company. The aforementioned reserved funds can only be used for specific purposes and are not distributable as cash dividends. As a result of these PRC laws and regulations that require annual appropriations of 10% of net after-tax profits to be set aside prior to payment of dividends as general reserve fund or statutory surplus fund, the Company’s subsidiaries, the consolidated VIE and VIE’s subsidiaries incorporated in PRC are restricted in their ability to transfer a portion of their net assets to the Company. Amounts restricted include paid-in capital and statutory reserve funds, totaling approximately RMB918.3 million, or 8.6% of the Group’s total consolidated net assets as of December 31, 2021. Therefore, the Company performed a test on the restricted net assets of consolidated subsidiaries and the VIE in accordance with Securities and Exchange Commission Regulation S-X Rules 4- 08 (e) (3), “General Notes to Financial Statements”, and concluded that it was not applicable for the Company to disclose the financial statements of the parent company for the year ended December 31, 2021.

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	20. SUBSEQUENT EVENT In March 2022, the Company’s Board of Directors authorized a share repurchase program under which the Company may repurchase up to US$150 million of its American depositary shares over the following 12 months. The share repurchases may be made in the open market, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

Principal Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation

2.1 Basis of presentation

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

Significant accounting policies followed by the Group in the preparation of its accompanying consolidated financial statements are summarized below.

Basis of consolidation

2.2 Basis of consolidation

The Company applies the guidance codified in ASC 810,

Consolidations

All transactions and balances between the Company, its subsidiaries, consolidated VIE and VIE’s subsidiaries have been eliminated upon consolidation.

Use of estimates

2.3 Use of estimates

Foreign currencies

2.4 Foreign curren

Foreign Currency Matters

Convenience translation

2.5 Convenience translation

Fair value measurements

2.6 Fair value measurements

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

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

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

Cash and cash equivalents

2.7 Cash and cash equivalents

Cash includes cash on hand and deposits held by financial

institutions

Short-term investments

2.8 Short-term investments

Accounts receivable

2.9 Accounts receivable

Property, equipment and software

2.10 Property, equipment and software


Category		Estimated useful lives
Electronic equipment		3-5 years
Leasehold improvement		Shorter of lease terms or estimated useful lives of the assets
Furniture and fixtures		5 years
Motor vehicles		3-5 years
Software		5 years

The majority of electronic equipment includes servers. The Group recognized the gain or loss on the disposal of property, equipment and software in the Consolidated Statements of Comprehensive Loss.

Intangible Assets

2.11 Intangible assets


Category		Estimated useful lives
Domains		10 years

Impairment of long-lived assets

2.12 Impairment of long-lived assets

Revenue recognition

2.13 Revenue recognition

The Group accounted for revenue under ASC 606,

Revenue from Contracts with Customers

via in-app communication

tools.

Online recruitment services to enterprise customers

popular in-demand jobs

posting and interaction privilege with job seekers during the subscription period.

Time-based model

Item-based model

Other services

The Group defines enterprise customers who contributed revenue of RMB50 or more annually as key accounts, who contributed revenue between RMB5 and RMB50 annually as

mid-sized

accounts, and who contributed revenue of RMB5 or less annually as

small-sized

accounts.


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Online recruitment services to enterprise customers
—Key accounts		155,819		330,795		928,360
—Mid-sized accounts		363,282		696,325		1,513,506
—Small-sized accounts		467,758		900,058		1,777,160
Other s		11,861		17,181		40,102

Total		998,720		1,944,359		4,259,128

Arrangements with multiple performance obligations

Deferred revenue

Remaining performance obligations

Cost of revenues

2.14 Cost of revenues

Cost of services consist primarily of settlement costs of

third-party on-line payment

platforms, payroll and other employee-related costs, server

and bandwidth service costs, server

depreciation and other expenses incurred by the Group which are directly attributable to the performance of the Group’s online recruitment support services.

Sales and marketing expenses

2.15 Sales and marketing expenses

Research and development expenses

2.16 Research and development expenses

General and administrative expenses

2.17 General and administrative expenses

General and administrative expenses consist primarily of payroll and other employee-related expenses for the Group’s managerial and administrative staff

office rental and property management fees, professional service fees and other administrative expenses.

Employee benefits

2.18 Employee benefits

, VIE

and

VIE’s subsidiaries

including accrued and unpaid amounts

, were RMB103,817, RMB135,478 and RMB256,533 for the years ended December 31, 2019, 2020 and 2021, respectively.

Share-based compensation

2.19 Share-based compensation

The Group grants share options and restricted share units (“RSUs”) to its management, other key employees and eligible nonemployees. Such compensation is accounted for in accordance with ASC 718,

Compensation-Stock Compensation

. The Group adopted

ASU 2018-07,

Improvements to Nonemployee Share-Based Payment Accounting,

for the periods presented. Under ASC

2018-07,

the accounting for nonemployees’ share-based awards are similar to the model for employee awards. And forfeitures are accounted for when they occur.

Operating leases

2.20 Operating leases

The Group applied ASC 842,

Leases

, on January 1, 2019 on the modified retrospective basis. The Group determines if an arrangement is a lease at inception. Operating leases are primarily for office and are included in operating lease

right-of-use

assets and operating lease liabilities on the Consolidated Balance Sheets. Operating lease

right-of-use

non-lease

components as a single lease component. Upon the adoption of ASC 842, the Group recognized operating lease assets of

RMB50,570 and total operating lease liabilities of RMB50,089 on the Consolidated Balance Sheets.

For operating lease with a term of one year or less, the Group has elected to not recognize a lease liability or lease

right-of-use

Taxation

2.21 Taxation

Income Tax

and measurement estimates are recognized in the period in which the changes occur. As of December 31, 2020 and 2021, the Group did not have any significant unrecognized uncertain tax positions.

Statutory reserves

2.22 Statutory reserves

The

Company’s subsidiaries, consolidated VIE and VIE’s subsidiaries established in the PRC are required to make appropriations to

certain non-distributable reserve

funds.

In accordance with the laws applicable to the

foreign investment enterprises

established in the PRC, the Group’s subsidiaries registered as wholly-owned foreign

enterprises

have to make appropriations from

their after-tax profits

the after-tax profits

In addition, in accordance with the PRC Company Law, the Group’s consolidated VIE and VIE’s subsidiaries, registered as Chinese domestic companies, must make appropriations from

their after-tax profits

as determined under the PRC GAAP

to non-distributable reserve

funds including statutory surplus fund and discretionary surplus fund on an annual basis. The appropriation to the statutory surplus fund must be 10% of

the after-tax profits

No appropriation to any reserve fund was made for the years ended December 31, 2019, 2020 and 2021.

Comprehensive income

2.23 Comprehensive income/(loss)

net-of-tax

basis.

Segment reporting

2.24 Segment reporting

ASC 280,

Segment Reporting

, establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas and major customers.

Loss per share

2.25 Loss per share

the if-converted method,

The

two-class

the two-class method

Recent accounting pronouncements

2.26 Recent accounting pronouncements

In June 2016, the FASB amended guidance related to the expected credit loss of financial instruments as part of

ASU 2016-13,

Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial

Instruments

. In November 2019, the FASB issued ASU

2019-10,

In December 2019, the FASB issued

ASU 2019-12,

Simplifying the Accounting for Income Taxes

Principal Activities and Organization (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Principal Subsidiaries and Consolidated VIE

As of December 31, 2021, the Company’s principal subsidiaries and consolidated VIE are as follows:

Place of
incorporation

Date of incorporation

Equity
interest held

Principal activities

Subsidiaries

Techfish Limited

Hong Kong, China

February 14, 2014

100

Investment holding

Beijing Glorywolf Co., Ltd.
(“Glory”, or the “WFOE”)

Beijing, China

May 7, 2014

100

Online recruitment
assisting service

VIE

Beijing Huapin Borui Network Technology Co., Ltd. (“Huapin”)

Beijing, China

December 25, 2013

100

Online recruitment
assisting service

Schedule of variable interest entities

eliminated:


	As of December 31,
	2020		2021
	RMB		RMB
ASSETS
Current assets
Cash and cash equivalents		183,199		864,851
Short-term investments		525,506		864,557
Accounts receivable		6,999		1,002
Amounts due from Group companies		36,859		86,989
Amounts due from related parties		—		6,615
Prepayments and other current assets		146,244		487,598

Total current assets		898,807		2,311,612

Non-current assets
Property, equipment and software, net		191,242		368,381
Intangible assets, net		549		458
Right-of-use assets, net		144,063		301,288
Other non-current assets		—		4,000

Total non-current assets		335,854		674,127

Total assets		1,234,661		2,985,739


	As of December 31,
	2020		2021
	RMB		RMB
LIABILITIES
Current liabilities
Accounts payable		41,839		52,938
Deferred revenue		1,200,349		1,958,570
Other payables and accrued liabilities		415,273		626,151
Amounts due to Group companies		372,427		27,223
Operating lease liabilities, current		59,559		124,464

Total current liabilities		2,089,447		2,789,346

Non-current liabilities
Operating lease liabilities, non-current		76,373		178,844

Total liabilities		2,165,820		2,968,190


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Total revenues		998,720			1,944,359			4,259,128
Cost of revenues		(133,553	)		(232,261	)		(554,575	)
Net ( loss ) /income		(464,373	)		(303,061	)		551,133


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Net cash (used in)/generated from operating activities		(25,658	)		494,187			1,717,104
Net cash used in investing activities		(66,029	)		(632,568	)		(591,213	)
Net cash generated from/(used in) financing activities		103,596			260,484			(444,239	)

Net increase in cash and cash equivalents		11,909			122,103			681,652
Cash and cash equivalents at beginning of year		49,187			61,096			183,199

Cash and cash equivalents at end of year		61,096			183,199			864,851

- Definition

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

+ References + Details

Principal Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Property, Equipment And Software

The estimated useful lives are as follows:


Category		Estimated useful lives
Electronic equipment		3-5 years
Leasehold improvement		Shorter of lease terms or estimated useful lives of the assets
Furniture and fixtures		5 years
Motor vehicles		3-5 years
Software		5 years

Summary of Intangible Assets


Category		Estimated useful lives
Domains		10 years

Summary of total Revenue


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Online recruitment services to enterprise customers
—Key accounts		155,819		330,795		928,360
—Mid-sized accounts		363,282		696,325		1,513,506
—Small-sized accounts		467,758		900,058		1,777,160
Other s		11,861		17,181		40,102

Total		998,720		1,944,359		4,259,128

Short-Term Investments (Tables)

12 Months Ended

Dec. 31, 2021

Short-term Investments [Abstract]

Summary of Short-Term Investment


	As of December 31,
	2020		2021
	RMB		RMB
Wealth management products		536,401		884,996

Prepayments and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepaid Expenses and Other Current Assets


	As of December 31,
	2020		2021
	RMB		RMB
Prepaid marketing expenses and service fee		47,398		234,490
Receivables from third-party on-line payment platforms		41,221		63,866
Deposits		37,780		63,814
Staff loans and advances		32,902		52,695
Receivables related to the exercise of share-based awards*		—		289,822
Others		5,609		19,896

Total		164,910		724,583

Property, Equipment and Software, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property, Equipment and Software, Net

Property, equipment and software, net consist of the following:


	As of December 31,
	2020			2021
	RMB			RMB
Electronic equipment		204,805			429,683
Leasehold improvement		39,460			65,885
Furniture and fixtures		9,486			12,784
Motor vehicles		2,316			3,904
Software		1,615			3,126

Total cost		257,682			515,382
Less: accumulated depreciation		(66,327	)		(146,256	)

Total property, equipment and software, net		191,355			369,126

Accounts Payable (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accounts Payable


	As of December 31,
	2020		2021
	RMB		RMB

Payable s for marketing expenses		16,831		30,646
Payables for purchase of property, equipment and software		22,344		19,987
Others		2,681		2,330

Total		41,856		52,963

Other Payables and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Payables and Accrued Liabilities [Abstract]

Schedule of other payables and and accrued liabilities


	As of December 31,
	2020		2021
	RMB		RMB

Salary, welfare and bonus payable		260,123		373,286
Tax payable (1)		21,704		218,419
Virtual accounts used in the Group’s platform (2)		24,815		41,070
Payable s to shareholders (3)		103,596		—
Others		8,021		12,363

Total		418,259		645,138

(1)

Tax payable mainly included value-added tax, enterprise income tax and individual income tax payable mainly related to the exercise of share options.

(2)

It represents the cash balance that customers deposited into their own virtual accounts in the Group’s platform, which they have rights to withdraw without any conditions.

(3)

As of December 31, 2020, Huapin received RMB103,596 from certain preferred shareholders during Series

C-3

Operating Lease (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Summary of Components of Lease Expenses

The Group has operating leases primarily for office. The components of lease expenses are as follows:


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB

Operating lease expenses		42,508		71,706		116,091
Expenses for short-term lease within 12 months		9,245		2,167		2,177

Total lease expenses		51,753		73,873		118,268

Summary of Supplemental Balance Sheet Information Related to Operating Lease

Supplemental balance sheet information related to operating lease is as follows:


	As of December 31,
	2020		2021
	RMB		RMB

Right-of-use assets		144,063		309,085

Lease liabilities, current		59,559		127,531
Lease liabilities, non-current		76,373		183,365

Total lease liabilities		135,932		310,896

Summary of Supplemental Cash Flow Information Related to Operating Lease

Supplemental cash flow information related to operating lease is as follows:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB

Cash paid for amounts included in the measurement of lease liabilities		42,620			72,138			102,154
Right-of-use assets obtained in exchange for operating lease liabilities		87,054			112,871			274,358
Weighted average remaining lease term (in years)		3.48			3.75			3.26
Weighted average discount rate		4.75	%		4.75	%		4.82	%

Summary of Maturities of Lease Liabilities

Maturities of lease liabilities are as follows:


	As of December 31, 2021
	RMB
2022		131,573
2023		96,778
2024		47,191
2025		35,492
2026		25,451
Thereafter		1,834

Total undiscounted lease payments		338,319
Less: imputed interest		(27,423	)

Total lease liabilities		310,896

Other Operating Income, Net (Tables)

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Schedule of Other Operating Income, Net


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
VAT-in super deduction *		2,412		7,981		12,423
Others		161		868		2,554

Total		2,573		8,849		14,977

VAT-in

deduction for any services or goods they purchased

(“VAT-in

super deduction”) from April 1, 2019 to December 31, 2021. The

VAT-in

super deduction obtained is considered as operating given that all

VAT-in

was derived from the purchases for daily operations, and therefore is presented in other operating income in the Consolidation Statements of Comprehensive Loss.

Related Party Balances And Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Name of Major Related Parties and Their Relationships With The Group

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


Name of related parties		Relationship with the Group
Mr. Peng Zhao and companies controlled by him		Founder, Chairman and CEO of the Group and his controlled companies
Image Frame Investment (HK) Limited (under the control of Tencent Holdings Limited)		Principal shareholder of the Group
Individual executive officer		Executive officer of the Group

Schedule of Amounts Due From Related Parties

Details of amounts due from related parties as of December 31, 2020 and 2021 are as follows:


	As of December 31,
	2020		2021
	RMB		RMB
Receivables from Tencent Group’s on-line payment platform (1)		3,018		4,284
Prepaid cloud service fee to Tencent Group (1)		1,556		2,331
Amount due from Mr. Peng Zhao and companies controlled by him (2)		31,132		—
Advance to individual executive officer (3)		5,093		—

Total		40,799		6,615

Summary of Transactions With Related Parties

Details of transactions with related parties for the years ended December 31, 2019, 2020 and 2021 are as follows


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Cloud services from Tencent Group (1)		2,063		6,109		18,119
On-line payment platform clearing services from Tencent Group (1)		836		1,886		5,464
Cash advance to Mr. Peng Zhao (2)		24,930		—		—
Cash advance to individual executive officer (3)		5,093		—		—

Total		32,922		7,995		23,583

(1)

(2)

The amount due from Mr. Peng Zhao and companies controlled by him was mainly cash advance with original

one-year

term and bearing no interest, which was settled through the repurchase of Class B ordinary shares from TECHNWOLF LIMITED (Note 13).

(3)

It represents the advance granted to Mr. Tao Zhang, Chief Technology Officer of the Group, which was settled in cash in March 2021.

Taxation (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Loss Before Tax

Components of loss before tax are as follow:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
(Loss)/Income from PRC entities		(483,970	)		(311,483	)		610,813
Loss from overseas entities		(18,085	)		(630,412	)		(1,622,360	)

Total loss before tax		(502,055	)		(941,895	)		(1,011,547	)

Schedule of Components of Income Tax Expenses

Components of income tax expense are as follows:


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Current income tax expense		—		—		59,527

Schedule of Reconciliation Between The PRC Statutory Income Tax Rate and Effective Income Tax Rate

The following table sets forth a reconciliation between the PRC statutory income tax rate of 25% and the Group’ effective tax rate:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
PRC s tatutory income tax rate		25.00	%		25.00	%		25.00	%
Tax rate difference from statutory rate in other jurisdictions (1)		(0.25	)%		(15.82	)%		(37.89	)%
Permanent difference (2)		5.30	%		2.22	%		1.24	%
Effect of preferential tax rates		(10.03	)%		(3.36	)%		5.15	%
Changes in valuation allowance		(19.97	)%		(7.89	)%		(8.38	)%
Others		(0.05	)%		(0.15	)%		9.00	%

Effective tax rate		—			—			(5.88	)%

(1)

The tax rate difference was mainly attributed to net loss of the Company, which is located in the Cayman Islands and exempted from income tax.

(2)

The permanent differences are primarily related to additional tax deductions for qualified research and development expenses offset by

non-deductible

share-based compensation expenses.

Summary of Net Deferred Tax Assets

The following table sets forth the significant components of the deferred tax assets:


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB

Net operating loss carry-forwards		86,628			86,679			70,985
Deductible advertising expenses		87,639			161,842			262,801
Others		1,490			1,511			1,062

Total deferred tax assets		175,757			250,032			334,848
Less: valuation allowance		(175,757	)		(250,032	)		(334,848	)

Total deferred tax assets, net of valuation allowance		—			—			—

Schedule of Movements of Valuation Allowance

Movements of valuation allowance are as follows


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Balance at beginning of the year		75,501		175,757		250,032
Change in valuation allowance		100,256		74,275		84,816

Balance at end of the year		175,757		250,032		334,848

Convertible Redeemable Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Summary of convertible redeemable preferred share

The Company’s convertible redeemable preferred shares activities for the years ended December 31, 2019, 2020 and 2021 are summarized below:


	Series A Preferred Shares						Series B Preferred Shares						Series C Preferred Shares						Series D Preferred Shares						Series E Preferred Shares						Series F Preferred Shares						Total
	Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)
Balance as of January 1, 2019		60,000,000			30,144			40,000,000			56,554			147,068,133			400,950			60,856,049			317,533			83,474,263			874,107			—			—			391,398,445			1,679,288
Issuance of Series E Preferred Shares Tranche I and II, net of issuance cost		—			—			—			—			—			—			—			—			60,599,104			691,894			—			—			60,599,104			691,894
Accretion on convertible redeemable preferred shares to redemption value		—			3,290			—			6,231			—			42,417			—			35,053			—			145,328			—			—			—			232,319

Balance as of December 31, 2019		60,000,000			33,434			40,000,000			62,785			147,068,133			443,367			60,856,049			352,586			144,073,367			1,711,329			—			—			451,997,549			2,603,501

Issuance of Series F Preferred Shares, net of issuance cost		—			—			—			—			—			—			—			—			—			—			99,354,585			2,803,114			99,354,585			2,803,114
Accretion on convertible redeemable preferred shares to redemption value		—			2,743			—			5,191			—			35,198			—			28,196			—			133,704			—			78,949			—			283,981

Balance as of December 31, 2020		60,000,000			36,177			40,000,000			67,976			147,068,133			478,565			60,856,049			380,782			144,073,367			1,845,033			99,354,585			2,882,063			551,352,134			5,690,596

Accretion on convertible redeemable preferred shares to redemption value		—			1,057			—			2,006			—			13,580			—			10,823			—			51,072			—			85,527			—			164,065
Conversion of preferred shares to ordinary shares		(60,000,000	)		(37,234	)		(40,000,000	)		(69,982	)		(147,068,133	)		(492,145	)		(60,856,049	)		(391,605	)		(144,073,367	)		(1,896,105	)		(99,354,585	)		(2,967,590	)		(551,352,134	)		(5,854,661	)

Balance as of December 31, 2021		—			—			—			—			—			—			—			—			—			—			—			—			—			—

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table sets forth the activities of share options for the years ended December 31, 2019, 2020 and 2021:


	Number of options			Weighted average exercise price		Weighted average remaining contractual life		Aggregate intrinsic value		Weighted average grant–date fair value
				US$		In Years		US$		US$
Outstanding as of January 1, 2019		67,784,739			0.50		7.64		22,714		0.12
Granted		25,679,294			1.45
Forfeited		(7,242,312	)		0.84

Outstanding as of December 31, 2019		86,221,721			0.76		7.22		65,994		0.27

Granted		26,509,592			2.42
Forfeited		(5,597,960	)		1.00

Outstanding as of December 31, 2020		107,133,353			1.16		6.84		226,639		0.64

Granted		32,710,153			4.14
Exercised		(54,385,484	)		0.55
Forfeited		(2,982,054	)		1.98

Outstanding as of December 31, 2021		82,475,968			2.71		8.05		1,214,916		2.82

Vested and expected to vest as of December 31, 2021		82,475,968			2.71		8.05		1,214,916		2.82
Exercisable as of December 31, 2021		22,421,874			1.27		6.70		362,469		0.86

Summary of Assumptions in the Binomial Option-Pricing Model used to Determine the Fair Value of Stock Options


	For the year ended December 31,
	2019		2020		2021
Fair value of ordinary shares on the date of option grant (US$)		1.01 - 1.52		1.84 - 3.27		6.78 - 18.09
Risk-free interest rate (1)		1.80% -2.76%		0.82% - 1.70%		1.6% - 2.0%
Expected term (in years)		10		10		10
Expected dividend yield (2)		0%		0%		0%
Expected volatility (3)		56.1% - 57.8%		56.5% -59.0%		58.8% - 59.8%
Expected early exercise multiple		2.2x-2.8x		2.2x-2.8x		2.2x-2.8x

(1)

(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.

Summary of RSU activity

The following table summarizes activities of the Company’s RSUs granted to employees:


	Number of RSUs		Weighted average grant-date fair value
			US$
Outstanding as of January 1, 2021		—		—
Granted		3,521,118

Outstanding as of December 31, 2021		3,521,118		19.05

Summary of Stock-Based Compensation Expense

The following table sets forth the amount

of share-based compensation expenses included in each of the relevant financial statement line items:


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB
Cost of revenues		944		1,920		31,467
Sales and marketing expenses		8,443		21,473		73,733
Research and development expenses		13,595		30,883		137,820
General and administrative expenses *		11,268		602,960		1,680,626

Total		34,250		657,236		1,923,646

In November 2020 and June 2021, the Company

granted

24,780,971 and 24,745,531 Class B ordinary shares to TECHWOLF LIMITED

, and recorded

RMB533.1 million and RMB1,506.4 million

of share-based compensation expenses in general and administrative expenses for the years ended December 31, 2020 and 2021, respectively (Note 13).

Basic And Diluted Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share Reconciliation [Abstract]

Schedule Of Earnings Per Share Basic And Diluted


	For the year ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Numerator
Net loss		(502,055	)		(941,895	)		(1,071,074	)
Accretion on convertible redeemable preferred shares to redemption value		(232,319	)		(283,981	)		(164,065	)

Net loss attributable to ordinary shareholders		(734,374	)		(1,225,876	)		(1,235,139	)

Denominator
Weighted average number of ordinary shares used in computing net loss per share
—Basic and diluted		107,114,306			111,172,986			529,343,027
Net loss per share attributable to ordinary shareholders
—Basic and diluted		(6.86	)		(11.03	)		(2.33	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	For the year ended December 31,
	2019		2020		2021
P referred shares		431,914,761		500,211,192		251,440,808
Share options and RSUs		38,394,825		60,853,313		78,376,179

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Fair value measurement at reporting date using

Description

Fair value

Quoted prices in active
markets for identical assets
(Level 1)

Significant other
observable inputs
(Level 2)

Significant
unobservable
inputs
(Level 3)

RMB

As of December 31,
2020:

Short-term investments

536,401

—

536,401

—

As of December 31,
2021:

Short-term investments

884,996

—

884,996

—

Principal Activities and Organization - Summary of Principal Subsidiaries and Consolidated VIE (Detail)	12 Months Ended
	Dec. 31, 2021
Schedule Of Subsidiaries And Consolidated Variable Interest Entity [Line Items]
Place of incorporation	E9
Techfish Limited [Member] \| Subsidiaries [Member]
Schedule Of Subsidiaries And Consolidated Variable Interest Entity [Line Items]
Principal subsidiaries and consolidated VIE	Techfish Limited
Place of incorporation	F4
Date of incorporation	Feb. 14, 2014
Beijing Glorywolf Co Ltd [Member] \| Subsidiaries [Member]
Schedule Of Subsidiaries And Consolidated Variable Interest Entity [Line Items]
Principal subsidiaries and consolidated VIE	Beijing Glorywolf Co., Ltd.
Place of incorporation	F4
Date of incorporation	May 07, 2014
Beijing Huapin Borui Network Technology Co Ltd [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Schedule Of Subsidiaries And Consolidated Variable Interest Entity [Line Items]
Principal subsidiaries and consolidated VIE	Beijing Huapin Borui Network Technology Co., Ltd.
Place of incorporation	F4
Date of incorporation	Dec. 25, 2013

Principal Activities and Organization - Summary of Group's Consolidated Financial Statements (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2021 USD ($)	Jan. 01, 2019 CNY (¥)
Current assets
Cash and cash equivalents	¥ 11,341,758		¥ 3,998,203	¥ 407,355	$ 1,779,769
Short-term investments	884,996		536,401		138,875
Accounts receivable	1,002		6,999		157
Amounts due from related parties	6,615		40,799		1,038
Prepayments and other current assets	724,583		164,910		113,703
Total current assets	12,958,954		4,747,312		2,033,542
Non-current assets
Property, equipment and software, net	369,126		191,355		57,924
Intangible assets, net	458		549		72
Right-of-use assets, net	309,085		144,063		48,502	¥ 50,570
Other non-current assets	4,000				628
Total non-current assets	682,669		335,967		107,126
Total assets	13,641,623		5,083,279		2,140,668
Current liabilities
Accounts payable	52,963		41,856		8,311
Deferred revenue	1,958,570		1,200,349		307,342
Other payables and accrued liabilities	645,138		418,259		101,236
Operating lease liabilities, current	127,531		59,559		20,012
Total current liabilities	2,784,202		1,720,023		436,901
Non-current liabilities
Operating lease liabilities, non-current	183,365		76,373		28,774
Total liabilities	2,967,567		1,796,396		$ 465,675
Total revenues	4,259,128	$ 668,350	1,944,359	998,720
Cost of revenues	(554,648)	(87,036)	(240,211)	(137,812)
Net loss	(1,071,074)	(168,074)	(941,895)	(502,055)
Net cash (used in)/generated from operating activities	1,641,381	257,568	395,911	(105,663)
Net cash used in investing activities	(601,862)	(94,445)	467,305	(1,223,803)
Net cash generated from/(used in) financing activities	6,431,263	1,009,206	2,882,112	993,475
Net increase in cash and cash equivalents	7,343,555	1,152,364	3,590,848	(292,878)
Cash and cash equivalents at beginning of the year	3,998,203	627,405	407,355	700,233
Cash and cash equivalents at end of the year	11,341,758	$ 1,779,769	3,998,203	407,355
Variable Interest Entity, Primary Beneficiary [Member]
Current assets
Cash and cash equivalents	864,851		183,199	61,096
Short-term investments	864,557		525,506
Accounts receivable	1,002		6,999
Amounts due from Group companies	86,989		36,859
Amounts due from related parties	6,615		0
Prepayments and other current assets	487,598		146,244
Total current assets	2,311,612		898,807
Non-current assets
Property, equipment and software, net	368,381		191,242
Intangible assets, net	458		549
Right-of-use assets, net	301,288		144,063
Other non-current assets	4,000		0
Total non-current assets	674,127		335,854
Total assets	2,985,739		1,234,661
Current liabilities
Accounts payable	52,938		41,839
Deferred revenue	1,958,570		1,200,349
Other payables and accrued liabilities	626,151		415,273
Amounts due to Group companies	27,223		372,427
Operating lease liabilities, current	124,464		59,559
Total current liabilities	2,789,346		2,089,447
Non-current liabilities
Operating lease liabilities, non-current	178,844		76,373
Total liabilities	2,968,190		2,165,820
Total revenues	4,259,128		1,944,359	998,720
Cost of revenues	(554,575)		(232,261)	(133,553)
Net loss	551,133		(303,061)	(464,373)
Net cash (used in)/generated from operating activities	1,717,104		494,187	(25,658)
Net cash used in investing activities	(591,213)		(632,568)	(66,029)
Net cash generated from/(used in) financing activities	(444,239)		260,484	103,596
Net increase in cash and cash equivalents	681,652		122,103	11,909
Cash and cash equivalents at beginning of the year	183,199		61,096	49,187
Cash and cash equivalents at end of the year	¥ 864,851		¥ 183,199	¥ 61,096

Principal Activities and Organization - Additional Information (Detail) - CNY (¥)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity, Primary Beneficiary [Member]
Principal Activities And Organization [Line Items]
Registered capitals and statutory reserves of variable interest entity	¥ 9,002,000	¥ 8,992,000
Exclusive Call Option Agreement [Member]
Principal Activities And Organization [Line Items]
Total transfer price for the target equity or the target asstets	¥ 100
Exclusive Technology Development Consulting And Service Agreement [Member] \| Beijing Glorywolf Co Ltd [Member]
Principal Activities And Organization [Line Items]
Notice Period For Termination Of Agreement	30 days
Exclusive Technology Development Consulting And Service Agreement [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Principal Activities And Organization [Line Items]
Agreement, Term	10 years
Agreement, Renewal term	ten years or otherwise as agreed
Equity Interest Pledge Agreement [Member] \| Variable Interest Entity, Primary Beneficiary [Member] \| Nominee Shareholder [Member]
Principal Activities And Organization [Line Items]
Percentage of equity interests pledged	100.00%

Principal Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2021 USD ($)	Jan. 01, 2019 CNY (¥)
Details Of Significant Accounting Policies [Line Items]
Rate of translations of amounts from RMB into US$	6.3726			6.3726
Allowance for doubtful accounts receivable	¥ 0	¥ 0	¥ 0
Impairment of long-lived assets	0	0	0
Employee benefit expenses incurred	256,533	135,478	103,817
Operating lease right of use asset	309,085	144,063		$ 48,502	¥ 50,570
Operating lease liability	310,896	135,932			¥ 50,089
Unrecognized tax benefits	0	0
Appropriations to statutory reserves	¥ 0	0	0
Foreign Invested Enterprise [Member] \| General Reserve Fund [Member] \| China [Member]
Details Of Significant Accounting Policies [Line Items]
Minimum percentage appropriation to general reserve fund required	10.00%
Required general reserve registered capital ratio to deforce compulsory net profit allocation to general reserve	50.00%
Domestic Enterprise [Member] \| Statutory Surplus Reserve [Member] \| China [Member]
Details Of Significant Accounting Policies [Line Items]
Minimum percentage appropriation to statutory surplus fund required	10.00%
Required statutory surplus registered capital ratio to deforce compulsory net profit allocation to statutory surplus	50.00%
Key Accounts Customer [Member]
Details Of Significant Accounting Policies [Line Items]
Revenue judgment description	revenue of RMB50 or more annually as key accounts
Mid Sized Accounts Customer [Member]
Details Of Significant Accounting Policies [Line Items]
Revenue judgment description	revenue between RMB5 and RMB50 annually as mid-sized accounts
Small Sized Accounts [Member]
Details Of Significant Accounting Policies [Line Items]
Revenue judgment description	revenue of RMB5 or less annually as small-sized accounts
Transferred over Time \| Online Recruitment Services To Enterprises Customers [Member]
Details Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized	¥ 3,043,692	1,527,671	717,721
Transferred at Point in Time \| Online Recruitment Services To Enterprises Customers [Member]
Details Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized	¥ 1,175,334	¥ 399,507	¥ 269,138

Principal Accounting Policies - Summary of Property, Equipment and Software (Detail)	12 Months Ended
	Dec. 31, 2021
Leasehold improvement [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	Shorter of lease terms or estimated useful lives of the assets
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Minimum [Member] \| Electronic equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] \| Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] \| Electronic equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] \| Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

Principal Accounting Policies - Summary of Intangible assets (Detail)	12 Months Ended
	Dec. 31, 2021
Internet Domain Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

Principal Accounting Policies - Summary of total Revenue (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	¥ 4,259,128	$ 668,350	¥ 1,944,359	¥ 998,720
Online Recruitment Services To Enterprises Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,219,026	662,057	1,927,178	986,859
Others [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	40,102	$ 6,293	17,181	11,861
Key Accounts Customer [Member] \| Online Recruitment Services To Enterprises Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	928,360		330,795	155,819
Mid Sized Accounts Customer [Member] \| Online Recruitment Services To Enterprises Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,513,506		696,325	363,282
Small Sized Accounts [Member] \| Online Recruitment Services To Enterprises Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	¥ 1,777,160		¥ 900,058	¥ 467,758

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Concentration and Risks - Additional Information (Detail) - Foreign Currency exchange rate risk [Member] - RMB Against US Dollar [Member]	1 Months Ended	12 Months Ended
	Jul. 31, 2005	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Percentage of depreciation in foreign currency exchange rate				1.70%
Percentage of appreciation in foreign currency exchange rate		2.30%	6.50%
Minimum [Member]
Concentration Risk [Line Items]
Minimum percent of appreciation of domestic currency against foreign currency over following three years	20.00%

Short-Term Investments - Summary of Short-Term Investment (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Short-term investments	¥ 884,996	$ 138,875	¥ 536,401
Wealth management products [Member]
Short-term investments	¥ 884,996		¥ 536,401

Short-Term Investments - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Net Investment Income	¥ 24,744	$ 3,883	¥ 9,095	¥ 9,718
Wealth management products [Member]
Net Investment Income	¥ 24,744		¥ 9,095	¥ 9,718

Prepayments and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid marketing expenses and service fee	¥ 234,490		¥ 47,398
Receivables from third-party on-line payment platforms	63,866		41,221
Deposits	63,814		37,780
Staff loans and advances	52,695		32,902
Receivables related to the exercise of share-based awards	289,822		0
Others	19,896		5,609
Total	¥ 724,583	$ 113,703	¥ 164,910

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software, Net (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Total cost	¥ 515,382		¥ 257,682
Less: accumulated depreciation/amortization	(146,256)		(66,327)
Total property, equipment and software, net	369,126	$ 57,924	191,355
Electronic equipment [Member]
Total cost	429,683		204,805
Leasehold improvement [Member]
Total cost	65,885		39,460
Furniture and Fixtures [Member]
Total cost	12,784		9,486
Motor vehicles [Member]
Total cost	3,904		2,316
Software [Member]
Total cost	¥ 3,126		¥ 1,615

Property, Equipment and Software, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation	¥ 80,009	¥ 41,004	¥ 17,971

Accounts Payable - Schedule of Accounts Payable (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Payables and Accruals [Abstract]
Payables for marketing expenses	¥ 30,646		¥ 16,831
Payables for purchase of property, equipment and software	19,987		22,344
Others	2,330		2,681
Total	¥ 52,963	$ 8,311	¥ 41,856

Other Payables and Accrued Liabilities - Schedule of Other Payables and Accrued Liabilities (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Payables and Accruals [Abstract]
Salary, welfare and bonus payable	¥ 373,286		¥ 260,123
Tax payable	218,419		21,704
Virtual accounts used in the Group's platform	41,070		24,815
Payables to shareholders	0		103,596
Others	12,363		8,021
Total	¥ 645,138	$ 101,236	¥ 418,259

Other Payables and Accrued Liabilities - Additional Information (Detail) ¥ in Thousands	Dec. 31, 2020 CNY (¥)
Payables and Accruals [Abstract]
Payables to shareholders	¥ 103,596

Operating Lease - Summary of Components of Lease Expenses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expenses	¥ 116,091	¥ 71,706	¥ 42,508
Expenses for short-term lease within 12 months	2,177	2,167	9,245
Total lease expenses	¥ 118,268	¥ 73,873	¥ 51,753

Operating Lease - Summary of Supplemental Balance Sheet Information Related to Operating Lease (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Jan. 01, 2019 CNY (¥)
Leases [Abstract]
Right-of-use assets	¥ 309,085	$ 48,502	¥ 144,063	¥ 50,570
Lease liabilities, current	127,531	20,012	59,559
Lease liabilities, non-current	183,365	$ 28,774	76,373
Total lease liabilities	¥ 310,896		¥ 135,932	¥ 50,089

Operating Lease - Summary of Supplemental Cash Flow Information Related to Operating Lease (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	¥ 102,154	¥ 72,138	¥ 42,620
Right-of-use assets obtained in exchange for operating lease liabilities	¥ 274,358	¥ 112,871	¥ 87,054
Weighted average remaining lease term (in years)	3 years 3 months 3 days	3 years 9 months	3 years 5 months 23 days
Weighted average discount rate	4.82%	4.75%	4.75%

Operating Lease - Summary of Maturities of Lease Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2019
Leases [Abstract]
2022	¥ 131,573
2023	96,778
2024	47,191
2025	35,492
2026	25,451
Thereafter	1,834
Total undiscounted lease payments	338,319
Less: imputed interest	(27,423)
Total lease liabilities	¥ 310,896	¥ 135,932	¥ 50,089

Other Operating Income, Net - Schedule of Other Operating Income, Net (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Other Income and Expenses [Abstract]
VAT-in super deduction	¥ 12,423		¥ 7,981	¥ 2,412
Operating Income Other	2,554		868	161
Total	¥ 14,977	$ 2,350	¥ 8,849	¥ 2,573

Other Operating Income, Net - Schedule of Other Operating Income, Net (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2021
April 1, 2019 to December 31, 2021 [Member]
Other Income and Expenses [Line Items]
Percentage of Value Added Tax Rate in Super Deduction	10.00%

Related Party Balances And Transactions - Schedule Of Amounts Due From Related Parties (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Due From Related Parties Current [Line Items]
Due from Related Parties, Current	¥ 6,615	$ 1,038	¥ 40,799
Receivables from Tencent Groups online payment platform [Member]
Due From Related Parties Current [Line Items]
Due from Related Parties, Current	4,284		3,018
Prepaid cloud service fee to Tencent Group [Member]
Due From Related Parties Current [Line Items]
Due from Related Parties, Current	2,331		1,556
Amount due from Mr. Peng Zhao and Companies Controlled by Him [Member]
Due From Related Parties Current [Line Items]
Due from Related Parties, Current	0		31,132
Advance to Individual Executive Officer [Member]
Due From Related Parties Current [Line Items]
Due from Related Parties, Current	¥ 0		¥ 5,093

- Definition

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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-Paragraph 1B
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Related Party Balances And Transactions - Summary Of Transactions With Related Parties (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	¥ 23,583	¥ 7,995	¥ 32,922
Cloud services from Tencent Group [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	18,119	6,109	2,063
On-line payment platform clearing services from Tencent Group [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	5,464	1,886	836
Cash advance to Mr.Peng Zhao [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	0	0	24,930
Cash advance to individual executive officer [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	¥ 0	¥ 0	¥ 5,093

Taxation - Additional Information (Detail) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
IncomeTaxDisclosure [Line Items]
Value added tax rate	6.00%
Statutory income tax rate	25.00%	25.00%	25.00%
Accumulated tax losses	¥ 308.9
Qualified High and New Technology Enterprise [Member]
IncomeTaxDisclosure [Line Items]
Tax losses carryforward expiration period	10 years
Qualified High and New Technology Enterprise [Member] \| Expire in Two Thousand And Twenty Two [Member]
IncomeTaxDisclosure [Line Items]
Preferential income tax rate	15.00%
April 1, 2019 to December 31, 2021 [Member]
IncomeTaxDisclosure [Line Items]
Percentage of value added tax rate in super deduction	10.00%
United States [Member]
IncomeTaxDisclosure [Line Items]
Statutory income tax rate	21.00%	21.00%	21.00%
United States [Member] \| California corporate franchise tax [Member]
IncomeTaxDisclosure [Line Items]
Statutory income tax rate	8.84%	8.84%	8.84%
Tax losses carryforward expiration period	20 years
China [Member]
IncomeTaxDisclosure [Line Items]
Tax losses carryforward expiration period	5 years
Percentage of tax deduction on qualified research and development expenses	175.00%
Percentage of additional deduction on qualified research and development expenses	75.00%
China [Member] \| Qualified High and New Technology Enterprise [Member]
IncomeTaxDisclosure [Line Items]
Preferential income tax rate	15.00%
China [Member] \| New Enterprise Income Tax Law [Member]
IncomeTaxDisclosure [Line Items]
Uniform tax rate for foreign investment enterprises and domestic	25.00%
Effective date of new enterprise income tax law	Jan. 01, 2008

Taxation - Schedule of Components of Loss Before Tax (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
(Loss)/income from PRC entities	¥ 610,813		¥ (311,483)	¥ (483,970)
Loss from overseas entities	(1,622,360)		(630,412)	(18,085)
Loss before income tax expense	¥ (1,011,547)	$ (158,733)	¥ (941,895)	¥ (502,055)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (c)
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+ Details

Taxation - Schedule of Components of Income Tax Expenses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current income tax expenses	¥ 59,527	¥ 0	¥ 0

Taxation - Schedule of Reconciliation Between The PRC Statutory Income Tax Rate and Effective Income Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory income tax rate	25.00%	25.00%	25.00%
Tax rate difference from statutory rate in other jurisdictions	(37.89%)	(15.82%)	(0.25%)
Permanent difference	1.24%	2.22%	5.30%
Effect of preferential tax rates	5.15%	(3.36%)	(10.03%)
Changes in valuation allowance	(8.38%)	(7.89%)	(19.97%)
Others	9.00%	(0.15%)	(0.05%)
Effective tax rate	(5.88%)	0.00%	0.00%

Taxation - Summary of Net Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of Deferred Tax Assets [Abstract]
Net operating loss carry-forwards	¥ 70,985	¥ 86,679	¥ 86,628
Deductible advertising expenses	262,801	161,842	87,639
Others	1,062	1,511	1,490
Total deferred tax assets	334,848	250,032	175,757
Less: valuation allowance	(334,848)	(250,032)	(175,757)	¥ (75,501)
Total deferred tax assets, net of valuation allowance	¥ 0	¥ 0	¥ 0

Taxation - Schedule of Movements of Valuation Allowance (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Balance at beginning of the year	¥ 250,032	¥ 175,757	¥ 75,501
Change in valuation allowance	84,816	74,275	100,256
Balance at end of the year	¥ 334,848	¥ 250,032	¥ 175,757

Ordinary Shares - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands							1 Months Ended		12 Months Ended
	Mar. 12, 2021 shares	Nov. 27, 2020 shares	Sep. 19, 2020 shares	Aug. 21, 2020 USD ($) shares	Feb. 10, 2020	May 20, 2014 shares	Jun. 30, 2021 CNY (¥) shares	Mar. 31, 2021 $ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2020 $ / shares shares	Jan. 01, 2019 $ / shares shares
Class of Stock [Line Items]
Common stock shares authorized										1,500,000,000		1,500,000,000	1,500,000,000	1,500,000,000
Common stock shares issued												100,080,000		110,000,000
Common stock par or stated value per share \| $ / shares										$ 0.0001			$ 0.0001	$ 0.0001
Common stock shares outstanding												100,080,000
Proceeds from Issuance of common stock									¥ 0	$ 0	¥ 78,998	¥ 0
Proceeds from IPO, net of issuance cost									¥ 6,406,872	$ 1,005,379	¥ 0	¥ 0
Issuance of Class A ordinary shares						9,920,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock shares issued										748,953,103			11,533,640
Common stock shares outstanding										727,855,233			7,875,787
Conversion of convertible redeemable preferred shares, Shares							551,352,134		551,352,134	551,352,134
Common Class B [Member]
Class of Stock [Line Items]
Common stock shares issued										140,830,401			121,108,037
Common stock shares outstanding										140,830,401			121,108,037
Common stock voting rights		15			10
Number of ordinary shares voting rights was modified		121,108,037
IPO [Member] \| Common Class A [Member]
Class of Stock [Line Items]
Number of new stock issued during the period							110,400,000
Proceeds from IPO, net of issuance cost \| ¥							¥ 6,406,872
Index Capital International Limited [Member] \| Common Class B [Member]
Class of Stock [Line Items]
Number of shares transferred from one investor to another investor	1,965,361
Duckling Fund L.P [Member] \| Common Class B [Member]
Class of Stock [Line Items]
Number of shares transferred from one investor to another investor	1,876,467
Coatue PE Asia 26 LLC [Member] \| Common Class A [Member]
Class of Stock [Line Items]
Number of new stock issued during the period				4,122,853
Proceeds from Issuance of common stock \| $				$ 11,431
Image Frame Investment (HK) Limited [Member] \| Common Class B [Member]
Class of Stock [Line Items]
Number of shares transferred from one investor to another investor				3,752,934
TWL Fellows Holding Limited [Member] \| Treasury Stock [Member]
Class of Stock [Line Items]
Issuance of Class A ordinary shares			3,657,853
TECHWOLF LIMITED [Member] \| Common Class B [Member]
Class of Stock [Line Items]
Number of new stock issued during the period		24,780,971					24,745,531
Number of shares repurchased								1,181,339
Repurchase price per share \| $ / shares								$ 5.33
TECHWOLF LIMITED [Member] \| Treasury Stock [Member]
Class of Stock [Line Items]
Issuance of Class A ordinary shares						9,920,000

Convertible Redeemable Preferred Shares - Additional Information (Detail) ¥ in Thousands, $ in Thousands													1 Months Ended	12 Months Ended
	Nov. 27, 2020 USD ($) shares	Feb. 10, 2020 USD ($) shares	Jul. 04, 2019 USD ($) shares	Mar. 08, 2019 USD ($) shares	Dec. 18, 2018 USD ($) shares	Nov. 02, 2017 USD ($) shares	Feb. 10, 2017 USD ($) shares	Aug. 15, 2016 USD ($) shares	Jul. 07, 2016 USD ($) shares	Apr. 08, 2015 USD ($) shares	Dec. 16, 2014 USD ($) shares	May 20, 2014 USD ($) shares	Jun. 30, 2021 shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) shares
Convertible Redeemable Preferred Shares [Line Items]
Proceeds from Issuance of Redeemable Convertible Preferred Stock														¥ 0	$ 0	¥ 2,803,114		¥ 993,475
Common Class A [Member]
Convertible Redeemable Preferred Shares [Line Items]
Conversion of preferred shares to ordinary shares, Shares \| shares													551,352,134	551,352,134	551,352,134
Series A Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Accretion on convertible redeemable preferred shares to redemption value \| ¥														¥ 1,057		2,743		3,290
Series B Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Accretion on convertible redeemable preferred shares to redemption value \| ¥														2,006		5,191		¥ 6,231
Series B Redeemable Convertible Preferred Stock [Member] \| TECHWOLF LIMITED [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares											13,333,333
Temporary equity repurchased during the period \| shares										13,333,333
Series E Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares																		60,599,104	60,599,104
Accretion on convertible redeemable preferred shares to redemption value \| ¥														51,072		133,704		¥ 145,328
Series C Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Accretion on convertible redeemable preferred shares to redemption value \| ¥														13,580		35,198		42,417
Series D Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Accretion on convertible redeemable preferred shares to redemption value \| ¥														10,823		¥ 28,196		¥ 35,053
Series F Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares																99,354,585	99,354,585
Accretion on convertible redeemable preferred shares to redemption value \| ¥														¥ 85,527		¥ 78,949
Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares																99,354,585	99,354,585	60,599,104	60,599,104
Preferred Stock convertible, conversion ratio														1	1
Temporary equity liquidation preference per share percentage														100.00%	100.00%
Threshold shareholding percentage required for redemption notice														50.00%	50.00%
Accretion on convertible redeemable preferred shares to redemption value														¥ 164,065	$ 25,284	¥ 283,981	$ 41,546	¥ 232,319	$ 33,529
Redeemable Convertible Preferred Stock [Member] \| Debt Note to Redeeming Shareholder [Member]
Convertible Redeemable Preferred Shares [Line Items]
Debt instrument term														2 years	2 years
Debt instrument interest rate														10.00%	10.00%
Redeemable Convertible Preferred Stock [Member] \| Prior to Issuance of Series F Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity redemption price compound interest per annum														10.00%	10.00%
Redeemable convertible preferred stock initial Redemption start date		Jul. 05, 2024
Redeemable Convertible Preferred Stock [Member] \| Post Issuance of Series F Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity redemption price simple interest per annum														8.00%	8.00%
Redeemable convertible preferred stock modified Redemption start date		Feb. 10, 2025
Share Purchase Agreement with Investors [Member] \| Series A Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares												60,000,000
Proceeds from Issuance of Redeemable Convertible Preferred Stock												$ 3,000
Stock issuance costs												$ 20
Share Purchase Agreement with Investors [Member] \| Series B Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares											26,666,667
Proceeds from Issuance of Redeemable Convertible Preferred Stock											$ 4,000
Stock issuance costs											$ 41
Share Purchase Agreement with Investors [Member] \| Series E Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares					83,474,263
Proceeds from Issuance of Redeemable Convertible Preferred Stock					$ 130,000
Stock issuance costs					$ 3,376
Share Purchase Agreement with Investors [Member] \| Series C Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares										48,000,000
Proceeds from Issuance of Redeemable Convertible Preferred Stock										$ 10,000
Stock issuance costs										$ 40
Share Purchase Agreement with Investors [Member] \| Series C One Redeemable Convertible Preferred Stock [Member] \| Tranche One [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares									45,319,316
Proceeds from Issuance of Redeemable Convertible Preferred Stock									$ 12,508
Stock issuance costs									$ 86
Share Purchase Agreement with Investors [Member] \| Series C Two Redeemable Convertible Preferred Stock [Member] \| Tranche Two [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares								42,251,744
Proceeds from Issuance of Redeemable Convertible Preferred Stock								$ 18,000
Stock issuance costs								$ 100
Share Purchase Agreement with Investors [Member] \| Series C Three Redeemable Convertible Preferred Stock [Member] \| Tranche Three [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares							11,497,073
Proceeds from Issuance of Redeemable Convertible Preferred Stock							$ 6,001
Stock issuance costs							$ 32
Share Purchase Agreement with Investors [Member] \| Series D Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares						60,856,049
Proceeds from Issuance of Redeemable Convertible Preferred Stock						$ 43,394
Stock issuance costs						$ 1,132
Share Purchase Agreement with Investors [Member] \| Series E One Redeemable Convertible Preferred Stock [Member] \| Tranche One [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares				32,373,031
Proceeds from Issuance of Redeemable Convertible Preferred Stock				$ 55,000
Stock issuance costs				$ 1,982
Share Purchase Agreement with Investors [Member] \| Series E Two Redeemable Convertible Preferred Stock [Member] \| Tranche Two [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares			28,226,073
Proceeds from Issuance of Redeemable Convertible Preferred Stock			$ 50,000
Stock issuance costs			$ 1,917
Share Purchase Agreement with Investors [Member] \| Series F Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares		48,689,976
Proceeds from Issuance of Redeemable Convertible Preferred Stock		$ 150,000
Stock issuance costs		$ 1
Share Purchase Agreement with Investors [Member] \| Series F Plus Redeemable Convertible Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Temporary equity issued during the period shares \| shares	50,664,609
Proceeds from Issuance of Redeemable Convertible Preferred Stock	$ 270,000
Stock issuance costs	$ 3,080

Convertible Redeemable Preferred Shares - Summary of convertible redeemable preferred share (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) shares
Series A Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 36,177		¥ 33,434		¥ 30,144
Balance Beginning, Shares \| shares	60,000,000	60,000,000	60,000,000	60,000,000	60,000,000	60,000,000
Accretion on convertible redeemable preferred shares to redemption value	¥ 1,057		¥ 2,743		¥ 3,290
Conversion of preferred shares to ordinary shares	¥ (37,234)
Conversion of preferred shares to ordinary shares, Shares \| shares	(60,000,000)	(60,000,000)
Balance Ending, Shares \| shares	0	0	60,000,000	60,000,000	60,000,000	60,000,000
Balance Ending	¥ 0		¥ 36,177		¥ 33,434
Series B Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 67,976		¥ 62,785		¥ 56,554
Balance Beginning, Shares \| shares	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000
Accretion on convertible redeemable preferred shares to redemption value	¥ 2,006		¥ 5,191		¥ 6,231
Conversion of preferred shares to ordinary shares	¥ (69,982)
Conversion of preferred shares to ordinary shares, Shares \| shares	(40,000,000)	(40,000,000)
Balance Ending, Shares \| shares	0	0	40,000,000	40,000,000	40,000,000	40,000,000
Balance Ending	¥ 0		¥ 67,976		¥ 62,785
Series C Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 478,565		¥ 443,367		¥ 400,950
Balance Beginning, Shares \| shares	147,068,133	147,068,133	147,068,133	147,068,133	147,068,133	147,068,133
Accretion on convertible redeemable preferred shares to redemption value	¥ 13,580		¥ 35,198		¥ 42,417
Conversion of preferred shares to ordinary shares	¥ (492,145)
Conversion of preferred shares to ordinary shares, Shares \| shares	(147,068,133)	(147,068,133)
Balance Ending, Shares \| shares	0	0	147,068,133	147,068,133	147,068,133	147,068,133
Balance Ending	¥ 0		¥ 478,565		¥ 443,367
Series D Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 380,782		¥ 352,586		¥ 317,533
Balance Beginning, Shares \| shares	60,856,049	60,856,049	60,856,049	60,856,049	60,856,049	60,856,049
Accretion on convertible redeemable preferred shares to redemption value	¥ 10,823		¥ 28,196		¥ 35,053
Conversion of preferred shares to ordinary shares	¥ (391,605)
Conversion of preferred shares to ordinary shares, Shares \| shares	(60,856,049)	(60,856,049)
Balance Ending, Shares \| shares	0	0	60,856,049	60,856,049	60,856,049	60,856,049
Balance Ending	¥ 0		¥ 380,782		¥ 352,586
Series E Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 1,845,033		¥ 1,711,329		¥ 874,107
Balance Beginning, Shares \| shares	144,073,367	144,073,367	144,073,367	144,073,367	83,474,263	83,474,263
Issuance of Series					¥ 691,894
Issuance of Series, Shares \| shares					60,599,104	60,599,104
Accretion on convertible redeemable preferred shares to redemption value	¥ 51,072		¥ 133,704		¥ 145,328
Conversion of preferred shares to ordinary shares	¥ (1,896,105)
Conversion of preferred shares to ordinary shares, Shares \| shares	(144,073,367)	(144,073,367)
Balance Ending, Shares \| shares	0	0	144,073,367	144,073,367	144,073,367	144,073,367
Balance Ending	¥ 0		¥ 1,845,033		¥ 1,711,329
Series F Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 2,882,063
Balance Beginning, Shares \| shares	99,354,585	99,354,585
Issuance of Series			¥ 2,803,114
Issuance of Series, Shares \| shares			99,354,585	99,354,585
Accretion on convertible redeemable preferred shares to redemption value	¥ 85,527		¥ 78,949
Conversion of preferred shares to ordinary shares	¥ (2,967,590)
Conversion of preferred shares to ordinary shares, Shares \| shares	(99,354,585)	(99,354,585)
Balance Ending, Shares \| shares	0	0	99,354,585	99,354,585
Balance Ending	¥ 0		¥ 2,882,063
Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Balance Beginning	¥ 5,690,596		¥ 2,603,501		¥ 1,679,288
Balance Beginning, Shares \| shares	551,352,134	551,352,134	451,997,549	451,997,549	391,398,445	391,398,445
Issuance of Series			¥ 2,803,114		¥ 691,894
Issuance of Series, Shares \| shares			99,354,585	99,354,585	60,599,104	60,599,104
Accretion on convertible redeemable preferred shares to redemption value	¥ 164,065	$ 25,284	¥ 283,981	$ 41,546	¥ 232,319	$ 33,529
Conversion of preferred shares to ordinary shares	¥ (5,854,661)
Conversion of preferred shares to ordinary shares, Shares \| shares	(551,352,134)	(551,352,134)
Balance Ending, Shares \| shares	0	0	551,352,134	551,352,134	451,997,549	451,997,549
Balance Ending	¥ 0		¥ 5,690,596		¥ 2,603,501

Share-Based Compensation - Schedule of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of options
Outstanding Beginning Balance	107,133,353	86,221,721	67,784,739
Granted	32,710,153	26,509,592	25,679,294
Exercised	(54,385,484)
Forfeited	(2,982,054)	(5,597,960)	(7,242,312)
Outstanding Ending Balance	82,475,968	107,133,353	86,221,721	67,784,739
Vested and expected to vest as of December 31, 2021	82,475,968
Exercisable as of December 31, 2021	22,421,874
Weighted average exercise price
Outstanding Beginning Balance	$ 1.16	$ 0.76	$ 0.50
Granted	4.14	2.42	1.45
Forfeited	1.98	1.00	0.84
Exercised	0.55
Outstanding Ending Balance	2.71	$ 1.16	$ 0.76	$ 0.50
Vested and expected to vest as of December 31, 2021	2.71
Exercisable as of December 31, 2021	$ 1.27
Weighted average remaining contractual life
Outstanding Ending	8 years 18 days	6 years 10 months 2 days	7 years 2 months 19 days	7 years 7 months 20 days
Vested and expected to vest as of December 31, 2021	8 years 18 days
Exercisable as of December 31, 2021	6 years 8 months 12 days
Aggregate intrinsic value
Outstanding Ending Balance	$ 1,214,916	$ 226,639	$ 65,994	$ 22,714
Vested and expected to vest as of December 31, 2021	1,214,916
Exercisable as of December 31, 2021	$ 362,469
Weighted average grant–date fair value
Outstanding Ending Balance	$ 2.82	$ 0.64	$ 0.27	$ 0.12
Vested and expected to vest as of December 31, 2021	2.82
Exercisable as of December 31, 2021	$ 0.86

Share-Based Compensation - Summary of Assumptions in the Binomial Option-Pricing Model used to Determine the Fair Value of Stock Options (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10 years	10 years	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Fair value of Ordinary Shares on the Date of Option Grant	$ 18.09	$ 3.27	$ 1.52
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.00%	1.70%	2.76%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	59.80%	59.00%	57.80%
Sharebased Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Expected Early Exercise Multiple Description	2.8x	2.8x	2.8x
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Fair value of Ordinary Shares on the Date of Option Grant	$ 6.78	$ 1.84	$ 1.01
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.60%	0.82%	1.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	58.80%	56.50%	56.10%
Sharebased Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Expected Early Exercise Multiple Description	2.2x	2.2x	2.2x

Share-Based Compensation - Summary of RSU activity (Detail) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Outstanding as of January 1, 2021	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Outstanding as of January 1, 2021 \| $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	3,521,118
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Outstanding as of December 31, 2021	3,521,118
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Outstanding as of December 31, 2021 \| $ / shares	$ 19.05

Share-Based Compensation - Summary of Stock-Based Compensation Expense (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
stockbased compensation expense [Line Items]
Share-based Payment Arrangement, Expense	¥ 1,923,646	¥ 657,236	¥ 34,250
Cost of Sales [Member]
stockbased compensation expense [Line Items]
Share-based Payment Arrangement, Expense	31,467	1,920	944
Selling and Marketing Expense [Member]
stockbased compensation expense [Line Items]
Share-based Payment Arrangement, Expense	73,733	21,473	8,443
Research and Development Expense [Member]
stockbased compensation expense [Line Items]
Share-based Payment Arrangement, Expense	137,820	30,883	13,595
General and Administrative Expense [Member]
stockbased compensation expense [Line Items]
Share-based Payment Arrangement, Expense	¥ 1,680,626	¥ 602,960	¥ 11,268

Share-Based Compensation - Summary of Stock-Based Compensation Expense (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands		1 Months Ended	12 Months Ended
	Nov. 27, 2020	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
stockbased compensation expense [Line Items]
Share-based Payment arrangement, expense			¥ 1,923,646	¥ 657,236	¥ 34,250
General and Administrative Expense [Member]
stockbased compensation expense [Line Items]
Share-based Payment arrangement, expense			1,680,626	602,960	¥ 11,268
TECHWOLF LIMITED [Member] \| Common Class B [Member]
stockbased compensation expense [Line Items]
Number of new stock issued during the period	24,780,971	24,745,531
TECHWOLF LIMITED [Member] \| General and Administrative Expense [Member]
stockbased compensation expense [Line Items]
Share-based Payment arrangement, expense			¥ 1,506,400	¥ 533,100

Share-Based Compensation - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) shares
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based Payment Award, Number of Shares Authorized \| shares	145,696,410
Share-based Payment Award, contractual term	10 years
Share based payment arrangement nonvested award option cost not yet recognized amount	$ 177,224
Share based payment arrangement nonvested award cost not yet recognized period for recognition	3 years 2 months 8 days
Share-based Payment Arrangement, Option \| Vested on Each Anniversary Of The Vesting Commencement Date For Four Years Thereafter [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based Payment Award, Award Vesting Rights, Percentage	25.00%
Award Vesting Period	4 years
Share-based Payment Arrangement, Option \| Vested on Each Anniversary Of The Vesting Commencement Date For Two Years Thereafter [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based Payment Award, Award Vesting Rights, Percentage	50.00%
Award Vesting Period	2 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based Payment Award, Award Vesting Rights, Percentage	25.00%
Award Vesting Period	4 years
Share based payment arrangement nonvested award cost not yet recognized period for recognition	3 years 10 months 9 days
Share-based Compensation Arrangement by Share-based Payment Award, Description	One RSU represents a right relating to one Class A ordinary share
Share based payment arrangement nonvested award excluding option cost not yet recognized amount	$ 65,995

Basic And Diluted Net Loss Per Share - Summary Of Basic And Diluted Loss Per Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares	Dec. 31, 2019 CNY (¥) ¥ / shares shares
Numerator
Net loss	¥ (1,071,074)	$ (168,074)	¥ (941,895)	¥ (502,055)
Accretion on convertible redeemable preferred shares to redemption value	(164,065)	(25,745)	(283,981)	(232,319)
Net loss attributable to ordinary shareholders	¥ (1,235,139)	$ (193,819)	¥ (1,225,876)	¥ (734,374)
Weighted average number of ordinary shares used in computing net loss per share
Basic and diluted	529,343,027	529,343,027	111,172,986	107,114,306
Net loss per share attributable to ordinary shareholders
Basic and diluted \| (per share)	¥ (2.33)	$ (0.37)	¥ (11.03)	¥ (6.86)

- Definition

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

+ References

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+ Details

- Definition

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

+ References

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+ Details

Basic And Diluted Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [LineItems]
Antidilutive Securities Excluded From Computation Of Earnings Pe rShare Amount	251,440,808	500,211,192	431,914,761
Share Options And Restricted Share Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [LineItems]
Antidilutive Securities Excluded From Computation Of Earnings Pe rShare Amount	78,376,179	60,853,313	38,394,825

Commitments And Contingencies - Additional Information (Detail) ¥ in Millions	Dec. 31, 2021 CNY (¥)
Future Minimum Advertising Commitments [Member]
Commitments And Contingencies Disclosure [LineItems]
Non cancellable contractual obligation	¥ 132.1

Fair Value Measurements - Summary Of Assets And Liabilities That Are Measured Or Disclosed At Fair Value On a Recurring Basis (Detail) - Short-term Investments - Fair Value, Recurring - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Short-term investments	¥ 884,996	¥ 536,401
Significant other observable inputs (Level 2)
Assets:
Short-term investments	¥ 884,996	¥ 536,401

Restricted Net Assets - Additional Information (Detail) ¥ in Millions	12 Months Ended
	Dec. 31, 2021 CNY (¥)
Restricted Net Assets Disclosure [Line Items]
Restricted net assets	¥ 918.3
Percentage of total restricted net assets to total consolidated net assets	8.60%
Annual Appropriations Of Net After Tax Profits To Be Set Aside As General Reserve Fund Or Statutory Surplus Fund	10.00%
Foreign Invested Enterprise [Member] \| General Reserve Fund [Member] \| CHINA
Restricted Net Assets Disclosure [Line Items]
Appropriation of after-tax profits to non distributable reserve funds, percentage	10.00%
Required general reserve registered capital ratio to deforce compulsory net profit allocation to general reserve	50.00%
Domestic Enterprise [Member] \| Statutory Surplus Reserve [Member] \| CHINA
Restricted Net Assets Disclosure [Line Items]
Appropriation Of After Tax Profit To Statutory Surplus Fund Required Percentage Minimum	10.00%
Required statutory surplus registered capital ratio to deforce compulsory net profit allocation to statutory surplus	50.00%

Subsequent Event - Additional Information (Details) - ADR [Member] - Subsequent Event [Member] $ in Millions	Mar. 31, 2022 USD ($)
Stock repurchase program, authorized amount	$ 150
Stock repurchase program, period in force	12 months