Intangible assets, net

12 Months Ended

Dec. 31, 2025

11.	Intangible assets, net

Intangible assets, net consist of the following:


	As of December 31, 2024
	Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Impairment Amount			Net Carrying Amount
	Year		(RMB in millions)
Non-compete		8.0		2,467		(2,467	)		—			—
Domain names and trademarks		17.8		6,715		(2,185	)		(815	)		3,715
Customer relationship		8.7		5,157		(1,416	)		(112	)		3,629
Technology and others		5.4		2,905		(1,790	)		(666	)		449

Total		11.6		17,244		(7,858	)		(1,593	)		7,793


	As of December 31, 2025
	Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Impairment Amount			Net Carrying Amount
	Year		(RMB in millions)
Domain names and trademarks		17.6		7,306		(2,513	)		(815	)		3,978
Customer relationship		8.7		5,531		(2,018	)		(112	)		3,401
Technology and others		5.4		2,959		(1,949	)		(666	)		344

Total		11.6		15,796		(6,480	)		(1,593	)		7,723

Amortization expenses for intangible assets were RMB1,304 million, RMB987 million and RMB1,089 million for the years ended December 31, 2023, 2024 and 2025, respectively. For the years ended December 31, 2023 and 2024, the Group recorded impairment losses of RMB902 million and RMB535 million for the

intangible assets

mainly identified from the acquisition of Dada and other offline businesses, respectively. No

impairment loss was recorded for the year ended December 31, 2025.

As of December 31, 2025, amortization expenses related to the intangible assets for future periods are estimated to be as follows:


	For the year ended December 31,
	2026		2027		2028		2029		2030		2031 and thereafter
	(RMB in millions)
Amortization expenses		1,118		1,098		949		839		540		3,179