v3.25.3
Unaudited Condensed Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
 6 Months Ended
Jun. 30, 2025
CNY (¥)
Jun. 30, 2024
CNY (¥)
Operating activities    
Cash used in operations ¥ (659,448) ¥ (326,183)
Income tax paid (3,948) (997)
Net cash used in operating activities (663,396) (327,180)
Investing activities    
Payments for purchase of property and equipment (134,354) (33,272)
Payments for purchase of intangible assets (117)  
Proceeds from disposal of property, equipment and intangible assets 1,439 100
Purchase of time deposits (100,000) (1,921,878)
Proceeds from maturity of time deposits 468,569 2,088,146
Payments for purchase of financial assets at FVTPL (37,281) (1,829)
Proceeds from sales of financial assets at FVTPL 1,714 318,416
Payment for loans to employees (359)  
Proceeds from collection of a loan to an employee 19,088 3,553
Net cash generated from investing activities 218,699 453,236
Financing activities    
Payment of capital element of lease liabilities (26,810) (25,333)
Payment of interest element of lease liabilities (1,660) (1,034)
Payment of listing expenses (10,762) (404)
Proceeds from receipts of subscription price for the convertible redeemable preferred shares   19,319
Proceeds from issuance of Class A ordinary shares for exercise of share options 25,534  
Payment of withholding tax arising from the settlement of vested RSUs (50,846)  
Proceeds from bank loans 72,223  
Repayment of bank loans (2,500)  
Payment of interest of bank loans (1,280)  
Advances to a management personnel   (1,425)
Net cash (used in)/generated from financing activities 3,899 (8,877)
Net increase/(decrease) in cash and cash equivalents (440,798) 117,179
Cash at the beginning of the year 4,268,300 1,661,152
Effect of foreign exchange rate changes 8,635 50,612
Cash at the end of the year ¥ 3,836,137 ¥ 1,828,943