Parent Company Only Condensed Financial Information (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Parent Company Only Condensed Financial Information |
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| Schedule of condensed balance sheets of parent company |
| | | | | | | As of December 31, | | | 2023 | | 2024 | | | RMB | | RMB | | | | | | ASSETS | | | | | Current assets: | | | | | Cash and cash equivalents | | 1,121,233 | | 4,943,339 | Time deposits and short-term investments | | — | | 2,613,125 | Amounts due from subsidiaries of the Group | | 54,475,676 | | 49,408,573 | Prepayments and other current assets | | — | | 23,955 | Total current assets | | 55,596,909 | | 56,988,992 | Non-current assets: | | | | | Investments in subsidiaries | | 11,452,246 | | 20,111,191 | Long-term investments | | 10,268 | | 45,799 | Property, plant and equipment, net | | 10 | | 2 | Total non-current assets | | 11,462,524 | | 20,156,992 | Total assets | | 67,059,433 | | 77,145,984 | LIABILITIES | | | | | Current liabilities: | | | | | Short-term borrowings | | 6,719,797 | | — | Amounts due to subsidiaries of the Group | | 3,598 | | 3,721 | Accruals and other current liabilities | | 193,414 | | 12,482 | Total current liabilities | | 6,916,809 | | 16,203 | Non-current liabilities: | | | | | Long-term borrowings | | — | | 6,254,897 | Total non-current liabilities | | — | | 6,254,897 | Total liabilities | | 6,916,809 | | 6,271,100 | SHAREHOLDERS’ EQUITY | | | | | Class A Ordinary Shares | | 1,215 | | 1,215 | Class B Ordinary Shares | | 235 | | 235 | Treasury shares | | (90) | | (74) | Additional paid-in capital | | 57,479,857 | | 60,126,623 | Accumulated other comprehensive loss | | (224,876) | | (171,748) | Retained earnings | | 2,886,283 | | 10,918,633 | Total shareholders’ equity | | 60,142,624 | | 70,874,884 | Total liabilities and shareholders’ equity | | 67,059,433 | | 77,145,984 |
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| Schedule of condensed statements of comprehensive (loss)/income of parent company |
| | | | | | | | | For the Year Ended December 31, | | | 2022 | | 2023 | | 2024 | | | RMB | | RMB | | RMB | | | | | | | | Operating expenses: | | | | | | | Research and development | | (629) | | — | | (173) | Selling, general and administrative | | (35,642) | | (44,419) | | (29,303) | Total operating expenses | | (36,271) | | (44,419) | | (29,476) | Loss from operations | | (36,271) | | (44,419) | | (29,476) | Other (expense)/income | | | | | | | Interest expense | | (43,096) | | (38,323) | | (51,818) | Interest income and investment income, net | | 190,528 | | 70,953 | | 265,836 | Share of (loss)/income from subsidiaries, and (loss)/income of VIEs | | (2,300,538) | | 11,716,065 | | 7,821,521 | Others, net | | 177,165 | | (137) | | 26,287 | (Loss)/Income before income tax | | (2,012,212) | | 11,704,139 | | 8,032,350 | Income tax expense | | (3) | | (6) | | — | Net (loss)/income | | (2,012,215) | | 11,704,133 | | 8,032,350 | Other comprehensive income/(loss) | | | | | | | Foreign currency translation adjustment, net of tax | | 1,327,761 | | (30,766) | | 53,128 | Comprehensive (loss)/income | | (684,454) | | 11,673,367 | | 8,085,478 |
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| Schedule of condensed statements of cash flows of parent company |
| | | | | | | | | For the Year Ended December 31, | | | 2022 | | 2023 | | 2024 | | | RMB | | RMB | | RMB | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | Net cash provided by operating activities | | 450,517 | | 56,515 | | 205,249 | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | Net cash (used in)/provided by inter-company transactions | | (23,397,234) | | (3,589,329) | | 6,751,926 | Placement of time deposits | | — | | — | | (2,179,080) | Redemption of time deposits | | — | | 2,137,626 | | — | Placement of short-term investments | | (2,609,767) | | — | | (364,515) | Redemption of short-term investments | | 8,036,663 | | — | | — | Purchase of property, plant and equipment and intangible assets | | (25) | | — | | — | Net cash (used in)/provided by investing activities | | (17,970,363) | | (1,451,703) | | 4,208,331 | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | Proceeds from borrowings | | 669,913 | | 699,300 | | — | Repayment of borrowings | | (349,163) | | (338,020) | | (700,000) | Proceeds from exercise of share options | | 6,728 | | 11,953 | | 14,658 | Proceeds from issuance of ordinary shares | | 2,462,300 | | 1,174,319 | | — | Net cash provided by/(used in) financing activities | | 2,789,778 | | 1,547,552 | | (685,342) | Effects of exchange rate changes on cash, cash equivalents and restricted cash | | 941,417 | | (5,355) | | 93,868 | Net change in cash, cash equivalents and restricted cash | | (13,788,651) | | 147,009 | | 3,822,106 | Cash, cash equivalents and restricted cash at beginning of the year | | 14,762,875 | | 974,224 | | 1,121,233 | Cash, cash equivalents and restricted cash at end of the year | | 974,224 | | 1,121,233 | | 4,943,339 |
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