v3.26.1
Share-based compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-based compensation.  
Summary of share option activity

Weighted

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Weighted-

  ​ ​ ​

Average

  ​ ​ ​

Weighted-

Average

Remaining

Average

grant-date

Contractual

Aggregate

Number of

Exercise

Fair Value

Term

Intrinsic

Options Granted to Employees and Directors

Options

Price

per Option

(Years)

Value

  ​ ​ ​

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

  ​ ​ ​

RMB

Outstanding, December 31, 2024

 

8,794,368

 

8.65

 

12.58

 

5.39

 

12,923

Granted

 

522,066

 

 

3.62

 

 

Forfeited

 

 

 

 

 

Expired

 

40,227

 

16.08

 

20.23

 

 

Exercised

 

970,693

 

3.07

 

5.59

 

 

Cancelled

 

 

 

 

 

Outstanding, December 31, 2025

 

8,305,514

 

8.72

 

12.8

 

4.67

 

11,738

Vested and expected to vest as of December 31, 2025

 

8,305,514

 

8.72

 

12.8

4.67

 

11,738

Vested as of December 31, 2025

 

8,083,840

 

9.21

 

13.47

 

4.62

 

11,006

Schedule of assumptions used to estimate the fair values of share options granted

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

Risk-free interest rate

 

3.45%

3.88%

4.19%-4.24%

Dividend yield

 

0%

0%

0%

Expected volatility

 

56.55%

57.25%

59.61%-60.01%

Weighted average expected volatility

 

56.55%

57.25%

59.83%

Expected exercise multiple

 

2.5

2.5-2.8

2.5-2.8

Summary of restricted share units

  ​ ​ ​

  ​ ​ ​

Weighted-

  ​ ​ ​

Weighted

  ​ ​ ​

Average

Average

grant-date

Remaining

Number of

Fair Value

Contractual

Aggregate

Share

per Restricted

Term

Intrinsic

Restricted Share Units Granted to Employees and Directors

Units

Share Unit

(Years)

Value

  ​ ​ ​

  ​ ​ ​

RMB

  ​ ​ ​

  ​ ​ ​

RMB

Outstanding, December 31, 2024

 

273,654

 

1.84

 

9.66

 

1,042

Granted

 

273,605

 

5.33

 

 

Forfeited

 

 

 

 

Expired

 

 

 

 

Vested

 

273,613

 

 

 

Cancelled

 

 

 

 

Outstanding, December 31, 2025

 

273,646

 

7.16

 

9.59

 

904

Vested and expected to vest as of December 31, 2025

 

273,646

 

7.16

 

9.59

 

904

Schedule of total compensation costs recognized

  ​ ​ ​

Year ended December 31, 

2023

2024

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

US$

Cost of revenue

 

3

 

2

 

 

Research and development

 

2,764

 

731

 

407

 

58

Sales and marketing

 

850

 

138

 

1,323

 

189

General and administrative

 

7,957

 

3,354

 

1,954

 

280

Total

 

11,574

 

4,225

 

3,684

 

527