Long-term and Short-term treasury investments (Tables)

12 Months Ended

Dec. 31, 2025


		As of December 31,
		2023		2024		2025
		RMB		RMB		RMB

Long-term treasury investments

Time deposits and other debt investments stated at amortized cost		4,712,589		2,735,696		2,981,744
Other debt investments measured at FVTPL		3,179,829		692,459		702,880
Other debt investments measured at FVOCI		481		2,344		6,763
Total		7,892,899		3,430,499		3,691,387

Short-term treasury investments

Time deposits and other debt investments stated at amortized cost		19,163,582		30,243,777		21,222,847
Other debt investments measured at FVTPL		70,212		7,347,293		6,891,900
Other debt investments measured at FVOCI		8,289		7,425		92,594
Total		19,242,083		37,598,495		28,207,341