Share-based compensation - Assumptions used to estimate fair value of share options (Details) |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
Y
$ / shares
|
Dec. 31, 2024
Y
$ / shares
|
Dec. 31, 2023
Y
$ / shares
|
|
| Share based compensation | |||
| Expected dividend yield | 0.00% | 0.00% | 0.00% |
| Expected term (in years) | Y | 10 | 10 | 10 |
| Weighted average share price | $ 20.97 | $ 17.73 | $ 15.15 |
| Minimum | |||
| Share based compensation | |||
| Fair value of ordinary shares (US$) | $ 18.28 | $ 15.8 | $ 12 |
| Expected volatility | 50.10% | 50.87% | 41.36% |
| Risk-free interest rate (per annum) | 4.03% | 3.73% | 3.48% |
| Maximum | |||
| Share based compensation | |||
| Fair value of ordinary shares (US$) | $ 26 | $ 18.76 | $ 15.2 |
| Expected volatility | 50.90% | 52.13% | 41.70% |
| Risk-free interest rate (per annum) | 4.58% | 4.48% | 4.59% |