​

​

As of December 31, 

​

​

2023

​

2024

​

2025

​

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

RMB

​

​

​

​

​

​

​

Payables to merchants and other partners

1,391,093

1,271,021

1,935,147

Due to consumers in financial services

​

2,946,243

​

3,207,304

​

7,082,964

Employee compensation and welfare payable

2,410,332

2,325,295

2,715,022

Tax payables

1,658,525

2,059,843

2,505,109

Payables and accruals for other costs and expenses

2,383,335

2,614,514

3,013,301

Provision for the shareholder class action lawsuits(Note 36(b))

​

—

​

—

​

5,201,312

Security deposits received

1,414,683

1,411,875

1,528,547

Payables related to market and promotion expenses

1,140,401

1,188,268

1,912,148

Deferred revenue and customer advances

​

905,524

​

685,846

​

833,251

Payables related to property and equipment

283,889

433,668

429,438

Other current financial liabilities measured at FVTPL (i)

​

32,971

​

427,208

​

1,151,472

Others

1,213,665

1,147,778

1,338,346

Total

15,780,661

16,772,620

29,646,057