v3.26.1
Debts and lines of credit (Tables)
 12 Months Ended
Dec. 31, 2025
Line of Credit Facility [Abstract]  
Schedule of long-term borrowings
As of December 31, 2025, the long-term debts, including the portion due within one year which were recorded in “short-term debts”, will be repaid according to the following schedule:
 
    
As of

December 31, 2025
  
    
(RMB in millions)
  
2026
      3,197  
2027
      1,302  
2028
      13,111  
2029
      2,320  
2030
      9,667  
2031 and thereafter
      15,275  
  
 
 
  
     44,872  
  
 
 
  
Schedule of debt
As of December 31, 2025, the Group’s debts were classified into different types as follows:
 
 
  
As of December 31,
 
 
  
2024
 
  
2025
 
 
  
(RMB in millions)
 
Short-term debts
      7,581        8,014  
Short-term debts (*)
      3,902        4,817  
Long-term debts due within one year (**)
      3,679        3,197  
Long-term debts (**)
      31,705        41,675  
  
 
 
     
 
 
  
Total
      39,286        49,689  
  
 
 
     
 
 
  
 
(*)
As of December 31, 2025, all short-term debts were unsecured, and the weighted average interest rate for the outstanding short-term debts was 1.7% per annum.
(**)
As of December 31, 2025, the major long-term debts were listed as below.