v3.26.1
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2025
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES  
Schedule of 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.

Schedule of movement of provision for warranty

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