v3.26.1
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Measurement  
Schedule of financial instruments, measured at fair value on a recurring basis, by level within the fair value hierarchy

The following table sets forth the financial instruments, measured at fair value on a recurring basis, by level within the fair value hierarchy as of December 31, 2025 (in thousands):

Fair value measurement at

reporting date using

Quoted Prices

Fair Value as of

in Active Market

Significant Other

Unobservable

December 31, 

for Identical

Observable

inputs

Items

  ​ ​ ​

2025

  ​ ​ ​

Assets (Level 1)

  ​ ​ ​

Inputs (Level 2)

  ​ ​ ​

(Level 3)

RMB

RMB

RMB

RMB

Assets

Short-term investments

840,938

840,938

Debt investments accounted for at fair value

 

17,521

 

 

 

17,521

The following table sets forth the financial instruments, measured at fair value on a recurring basis, by level within the fair value hierarchy as of December 31, 2024 (in thousands):

Fair value measurement at

reporting date using

Quoted Prices

Fair Value as of

in Active Market

Significant Other

Unobservable

December 31,

for Identical

Observable

inputs

Items

  ​ ​ ​

2024

  ​ ​ ​

Assets (Level 1)

  ​ ​ ​

Inputs (Level 2)

  ​ ​ ​

(Level 3)

RMB

RMB

RMB

RMB

Assets

Short-term investments

 

538,816

 

 

538,816