​

  ​ ​ ​

As of December 31, 

​

​

2024

  ​ ​ ​

2025

​

​

RMB

​

RMB

Land use rights

11,907,443

11,926,369

Less: accumulated amortization

(1,166,035)

(1,444,679)

Less: accumulated impairment

(55,008)

(55,008)

Land use rights, net

10,686,400

10,426,682