Revenue Diversification - No customers individually represented greater than 10.0% of total revenues in 2018, 2019, and 2020, indicating a diversified revenue base [735]. - No customers represented greater than 10.0% of accounts receivable, net, as of December 31, 2019, and 2020, reflecting stable credit risk management [736]. Contract Management - Contract liabilities to customers did not exceed 10.0% of total contract liabilities for the years 2018, 2019, and 2020, indicating effective contract management [737]. Currency Risk Exposure - The Renminbi depreciated approximately 5% against the U.S. dollar in 2018 and further depreciated by 4% in 2019, highlighting currency risk exposure [742]. - The company does not currently have significant direct foreign exchange risk, as substantially all revenues and expenses are denominated in Renminbi [741]. - A 10% appreciation of the U.S. dollar against the Renminbi would result in an increase of RMB22.3 million in cash and cash equivalents [744]. Financial Position - As of December 31, 2020, the company had U.S. dollar-denominated cash and cash equivalents of RMB223.4 million [744]. Credit Risk Management - The investment policy requires cash and short-term investments to be placed with high-quality financial institutions to limit credit risk [738]. - The company conducts credit evaluations on customers prior to delivery of goods or services, ensuring a robust credit risk assessment process [739].
Cloopen(RAASY) - 2020 Q4 - Annual Report