​

​

​

​

As of December 31, 

​

​

Note

​

2023

​

2024

​

2025

​

  ​ ​ ​

​

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Assets in the consolidated statements of financial position

​

​

​

​

​

​

​

​

Financial assets measured at FVTPL:

​

​

​

​

​

​

​

​

Other non-current assets (excluding non-financial assets items)

​

​

10,811

​

4,605

​

2,632

Long-term and short-term treasury investments

21

​

3,250,041

​

8,039,752

​

7,594,780

Other financial investments measured at FVTPL

23

2,886,719

3,602,059

5,489,233

Prepayments, receivables and other current assets (excluding non-financial assets items)

​

​

494,058

​

126,983

​

206,242

​

​

​

​

6,641,629

​

11,773,399

​

13,292,887

​

​

​

​

​

​

​

​

​

Financial assets measured at FVOCI:

​

​

​

​

​

​

​

​

Other financial investments measured at FVOCI

24

9,624,566

5,624,762

5,589,169

Long-term and short-term treasury investments

21

​

8,770

​

9,769

​

99,357

Prepayments, receivables and other current assets (excluding non-financial assets items)

​

​

​

676,209

​

1,535,897

​

5,855,012

Other non-current assets (excluding non-financial assets items)

​

​

​

—

​

—

​

547,330

​

​

​

​

10,309,545

​

7,170,428

​

12,090,868

Financial assets measured at amortized cost:

​

​

​

​

​

​

​

​

Restricted cash

27

1,159,979

1,743,045

3,697,626

Other non-current assets (excluding non-financial assets items)

​

432,179

2,304,890

923,024

Long-term and short-term treasury investments

21

23,876,171

32,979,473

24,204,591

Accounts receivable

25

3,434,615

3,492,919

4,648,583

Prepayments, receivables and other current assets (excluding non-financial assets items)

​

10,450,788

11,028,837

10,330,564

Cash and cash equivalents

27

27,308,098

12,554,843

23,808,032

​

​

​

​

66,661,830

​

64,104,007

​

67,612,420

​

​

​

​

​

​

​

​

​

​

​

​

​

83,613,004

​

83,047,834

​

92,996,175

​

​

​

​

​

​

​

​

​

Liabilities in the consolidated statements of financial position

  ​

​

​

​

Financial liabilities measured at FVTPL:

  ​

​

​

​

​

​

Other non-current liabilities (excluding non-financial liabilities items)

  ​

173,526

36,632

—

Preferred shares issued by subsidiaries

33

13,846,145

10,961,493

10,678,693

Accrued expenses and other current liabilities (excluding non-financial liabilities items)

32

32,971

427,208

1,151,472

​

​

​

​

14,052,642

​

11,425,333

​

11,830,165

Financial liabilities measured at amortized cost:

​

​

​

​

​

​

Borrowings

34

8,741,611

11,483,408

12,584,483

Lease liabilities

16

1,128,473

1,174,249

1,180,413

Other non-current liabilities (excluding non-financial liabilities items)

​

87,688

67,434

57,832

Accounts and notes payable

31

4,594,287

4,477,990

4,936,984

Accrued expenses and other current liabilities (excluding non-financial liabilities items)

​

10,460,580

10,992,425

16,915,148

​

​

​

​

25,012,639

​

28,195,506

​

35,674,860

​

​

​

​

​

​

​

​

​

​

​

​

​

39,065,281

​

39,620,839

​

47,505,025