Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-based Compensation

Summary of share options activity


				Weighted		Weighted		Weighted
				average		average		average
				exercise		grant date		remaining		Aggregate
		Number of		price per		fair value per		contractual		intrinsic
		shares		share		share		term		value
										US$
Outstanding as of December 31, 2022		56,274,213		0.16		4.42		6.04		98,287
Granted		—		—		—
Exercised		(3,770,958)		0.31		3.54
Forfeited		(831,250)		0.36		7.16
Outstanding as of December 31, 2023		51,672,005		0.15		4.44		4.95		105,285
Granted		—		—		—
Exercised		(5,279,893)		0.01		4.85
Forfeited		(117,500)		0.14		6.45
Outstanding as of December 31, 2024		46,274,612		0.00		4.39		3.87		70,995
Granted		—		—		—
Exercised		(42,869,327)		0.00		4.35
Forfeited		(135,000)		0.00		3.31
Outstanding as of December 31, 2025		3,270,285		0.00		4.97		5.30		6,900

Summary of assumptions used to value the Company's options grants


		As of December 31,
		2023		2024		2025
Exercise price (US Dollar)		N/A		0.00005		N/A
Exercise multiple		N/A		2.2~2.8		N/A
Risk-free interest rate		N/A		3.47%~4.74	%	N/A
Expected term (in years)		N/A		10		N/A
Expected dividend yield		N/A		—		N/A
Expected volatility		N/A		48.67%~90.35	%	N/A
Expected forfeiture rate (post-vesting)		N/A		0.00%~50.00	%	N/A
Fair value of the underlying shares on the date of options grants (US Dollar)		N/A		1.32		N/A
Fair value of share option (US Dollar)		N/A		1.32		N/A

Summary of service - based RSUs activity


				Weighted average grant
		Number of shares		date fair value per share
Outstanding as of December 31, 2022		11,638,750		3.51
Granted		1,181,000		1.79
Vested		(2,276,875)		4.76
Forfeited		(1,219,750)		4.34
Outstanding as of December 31, 2023		9,323,125		2.88
Granted		250,000		1.64
Vested		(2,953,500)		3.15
Forfeited		(649,625)		3.44
Outstanding as of December 31, 2024		5,970,000		2.64
Granted		219,000		2.56
Vested		(2,612,000)		3.17
Forfeited		(519,125)		2.67
Outstanding as of December 31, 2025		3,057,875		2.17