ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2025

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES


		As of December 31,
		2024		2025
		RMB		RMB
Refundable deposits from franchised stores—current		51,690,234		100,288,691
Construction payable		20,327,073		55,417,029
Sales rebate		6,135,710		51,155,685
Accrued payroll and social insurance		26,300,779		37,566,931
Accrued warehouse rental		8,593,422		31,739,789
Accrued selling and marketing expenses		23,150,372		31,658,518
Warranty—current		19,746,554		25,878,752
Other taxes payable		9,065,664		24,900,193
Operating lease liabilities—current (Note 17)		1,253,020		3,187,599
Others*		35,093,180		43,020,424

Accrued expenses and other current liabilities		201,356,008		404,813,611

*	Others mainly include accrued professional fees and other general corporate expenses.

The Group provides limited warranties to its end customers for terms varying from 3 months to a lifetime, subject to certain conditions, such as normal use. For certain key components of electric scooter, the Group mainly provides quality warranties varying from 12 months to a lifetime. For battery packs, warranties generally range from 12 months to 60 months or 10,000 to 40,000-kilometer warranty, depending on the models. For the other components of the electric scooters, the Group provides quality warranties varying from 3 months to 36 months depending on the parts. The Group is responsible for replacing or repairing the faulty products during their respective warranty terms.

The movement of provision for warranty was as follows:


	For the Year Ended December 31,
	2023	2024	2025
Balance at the beginning of the year	33,812,290	25,325,839	29,293,848
Additional provisions recognized	21,565,131	27,645,757	45,999,122
Warranty claims paid	(30,051,582)	(23,677,748)	(36,618,707)
Balance at the end of the year	25,325,839	29,293,848	38,674,263