v3.26.1
Long-term investments, net (Tables)
12 Months Ended
Dec. 31, 2025
Long-term investments, net  
Schedule of long term investments The following table sets forth a breakdown of the categories of long-term investments (in thousands):

  ​ ​ ​

As of December 31,

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Equity investments accounted for using the measurement alternative

 

51,176

 

140,959

Debt investments accounted for at fair value

 

 

17,521

Total

 

51,176

 

158,480

Schedule of changes in the investments accounted for using the measurement alternative

The following table summarizes the changes in the Group’s equity investments accounted for using the measurement alternative for the years ended December 31, 2024 and 2025 (in thousands):

  ​ ​ ​

For the Year Ended December 31,

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Balance at the beginning of the year

 

44,621

 

51,176

Additions

 

6,555

 

Disposals

 

 

(52,773)

Fair value re-measurement

 

 

142,556

Balance at the end of the year

 

51,176

 

140,959