Related party transactions (Tables)

12 Months Ended

Dec. 31, 2025

Related party transactions

Schedule of major related parties and their relationships


Company Name		Relationship with the Group
Tencent Holdings Limited and its subsidiaries (“Tencent Group”)		Parent company of one of our ordinary shareholders
Shayu		An investee of the Group
Equity method investees- talent agencies		Talent agencies invested by the Group classified as EMI

Schedule of significant related party transactions


		Years ended December 31,
		2023		2024		2025
		RMB		RMB		RMB
Advertisement revenue derived from
Tencent Group		56,057,315		24,052,614		41,945,013
Other revenue derived from
Tencent Group		4,249,801		24,424,731		17,823,286
Equity method investees- talent agencies		2,542,300		457,798		361,519
Total		6,792,101		24,882,529		18,184,805
Bandwidth fees paid to
Tencent Group		138,960,405		110,988,031		41,218,368
Revenue sharing fees and content cost paid to
Tencent Group		—		26,299		28,406
Equity method investees- talent agencies		105,489,026		12,492,874		7,709,839
Total		105,489,026		12,519,173		7,738,245
Payment handling fees paid to
Tencent Group		22,256,354		17,629,404		16,104,119
Virtual gifts purchased from
Tencent Group		116,032,260		182,216,981		262,346,948
Content rights purchased from
Tencent Group		280,708,045		161,933,140		97,128,585
Other fees paid to
Tencent Group		3,878,843		687,250		1,475,587

Schedule of amounts due from/to related parties


		Years ended December 31,
		2023		2024		2025
		RMB		RMB		RMB
Amounts due from related parties
Tencent Group		63,862,287		68,856,098		86,880,699
Shayu		4,989,300		5,176,400		4,577,910
Equity method investees- talent agencies		142,193		142,194		142,193
Total		68,993,780		74,174,692		91,600,802
Amounts due to related parties
Tencent Group		234,483,995		212,539,704		103,710,615
Equity method investees- talent agencies		16,908,031		10,049,146		8,595,919
Total		251,392,026		222,588,850		112,306,534