Property and equipment

12 Months Ended

Dec. 31, 2025

15. Property and equipment


		Bikes and
		e-bikes
		and		Computers						Assets
		related		and				Leasehold		under
		batteries		equipment		Vehicles		improvement		construction		Others		Total
		RMB		RMB		RMB		RMB		RMB		RMB		RMB
As of January 1, 2023
Cost		9,728,950		4,145,016		3,022,763		707,947		170,786		35,173		17,810,635
Accumulated depreciation and impairment		(6,787,158)		(2,705,019)		(2,306,846)		(373,680)		—		(16,118)		(12,188,821)
Net book amount		2,941,792		1,439,997		715,917		334,267		170,786		19,055		5,621,814
For the year ended December 31, 2023
Opening net book amount		2,941,792		1,439,997		715,917		334,267		170,786		19,055		5,621,814
Additions		328,330		486,897		—		1,644		1,803,572		766		2,621,209
Transfers		944,597		231,720		321,270		70,836		(1,568,423)		—		—
Disposals		(176,920)		(36,953)		(254,639)		(11,351)		(46,097)		(1,340)		(527,300)
Disposal of subsidiaries		—		(42,401)		(17,916)		(1,076)		(73,429)		(7)		(134,829)
Depreciation charges		(2,111,414)		(654,366)		(241,245)		(200,130)		—		(2,926)		(3,210,081)
Impairment charges		—		(53,057)		(309)		—		(16,585)		(46)		(69,997)
Currency translation differences		—		7,898		77		4,850		(83)		(81)		12,661
Ending net book amount		1,926,385		1,379,735		523,155		199,040		269,741		15,421		4,313,477
As of December 31, 2023
Cost		8,223,969		4,302,574		1,923,551		636,728		286,326		32,591		15,405,739
Accumulated depreciation and impairment		(6,297,584)		(2,922,839)		(1,400,396)		(437,688)		(16,585)		(17,170)		(11,092,262)
Net book amount		1,926,385		1,379,735		523,155		199,040		269,741		15,421		4,313,477

15. Property and equipment (Continued)


		Bikes and
		e-bikes
		and		Computers						Assets
		related		and				Leasehold		under
		batteries		equipment		Vehicles		improvement		construction		Others		Total
		RMB		RMB		RMB		RMB		RMB		RMB		RMB
As of January 1, 2024
Cost		8,223,969		4,302,574		1,923,551		636,728		286,326		32,591		15,405,739
Accumulated depreciation and impairment		(6,297,584)		(2,922,839)		(1,400,396)		(437,688)		(16,585)		(17,170)		(11,092,262)
Net book amount		1,926,385		1,379,735		523,155		199,040		269,741		15,421		4,313,477
For the year ended December 31, 2024
Opening net book amount		1,926,385		1,379,735		523,155		199,040		269,741		15,421		4,313,477
Additions		267,704		1,347,459		—		136		2,279,937		1,894		3,897,130
Transfers		1,933,698		117,913		211,595		91,007		(2,354,213)		—		—
Disposals		(284,598)		(47,923)		(103,198)		(7,120)		—		(967)		(443,806)
Disposal of subsidiaries		—		(65,449)		(2,243)		—		—		(179)		(67,871)
Depreciation charges		(1,580,839)		(595,547)		(146,850)		(135,243)		—		(562)		(2,459,041)
Impairment charges		—		(4,891)		—		(20,670)		—		—		(25,561)
Currency translation differences		—		(3,994)		(104)		(4,258)		(495)		(249)		(9,100)
Ending net book amount		2,262,350		2,127,303		482,355		122,892		194,970		15,358		5,205,228
As of December 31, 2024
Cost		6,755,697		5,216,119		1,215,891		608,748		211,555		31,149		14,039,159
Accumulated depreciation and impairment		(4,493,347)		(3,088,816)		(733,536)		(485,856)		(16,585)		(15,791)		(8,833,931)
Net book amount		2,262,350		2,127,303		482,355		122,892		194,970		15,358		5,205,228

15. Property and equipment (Continued)


		Bikes and
		e-bikes
		and		Computers						Assets
		related		and				Leasehold		under
		batteries		equipment		Vehicles		improvement		construction		Others		Total
		RMB		RMB		RMB		RMB		RMB		RMB		RMB
As of January 1, 2025
Cost		6,755,697		5,216,119		1,215,891		608,748		211,555		31,149		14,039,159
Accumulated depreciation and impairment		(4,493,347)		(3,088,816)		(733,536)		(485,856)		(16,585)		(15,791)		(8,833,931)
Net book amount		2,262,350		2,127,303		482,355		122,892		194,970		15,358		5,205,228
For the year ended December 31, 2025
Opening net book amount		2,262,350		2,127,303		482,355		122,892		194,970		15,358		5,205,228
Additions		18,954		1,218,095		—		20,365		1,881,910		3,178		3,142,502
Transfers		1,354,069		96,929		222,322		102,230		(1,775,550)		—		—
Disposals		(227,353)		(143,690)		(40,307)		(3,089)		(1,770)		(687)		(416,896)
Depreciation charges		(1,287,599)		(715,474)		(131,855)		(91,457)		—		(2,286)		(2,228,671)
Impairment charges		—		—		(10,182)		(1,847)		(228)		—		(12,257)
Currency translation differences		—		(3,760)		(1)		1,627		354		85		(1,695)
Ending net book amount		2,120,421		2,579,403		522,332		150,721		299,686		15,648		5,688,211
As of December 31, 2025
Cost		6,134,749		5,733,833		1,009,483		664,692		299,914		31,330		13,874,001
Accumulated depreciation and impairment		(4,014,328)		(3,154,430)		(487,151)		(513,971)		(228)		(15,682)		(8,185,790)
Net book amount		2,120,421		2,579,403		522,332		150,721		299,686		15,648		5,688,211

Depreciation charges were expensed off in the following categories in the consolidated income statements:


		For the Year Ended December 31,
		2023	2024	2025
		RMB	RMB	RMB
Cost of revenues		2,761,045	2,137,811	1,946,272
Operations and support		18,773	9,536	14,508
Research and development		246,377	174,226	175,328
Sales and marketing		23,275	10,801	14,569
General and administrative		160,611	126,667	77,994
Total		3,210,081	2,459,041	2,228,671

For the years ended December 31, 2023, 2024 and 2025, the impairment losses for property and equipment were RMB69,997, RMB25,561 and RMB12,257, respectively.