v3.26.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions
16.
RELATED PARTY TRANSACTIONS

 

a) Principal related parties

Name of related parties

Relationship with the Group

Tencent and its subsidiaries (“Tencent Group”)

Kingsoft and its subsidiaries and their respective associates (“Kingsoft Group”)

OrionStar and its subsidiaries (“OrionStar Group”)(1)

Pixiu Inc. and its subsidiaries (“Pixiu Group”)

Live.me and its subsidiaries (“Live.me Group”)(2)

Entities controlled by a shareholder of the Group

Entities controlled or influenced significantly by a shareholder of the Group

Entities controlled by a director of the Group

Entities influenced significantly by the Group

Entities that the Group owns 49.6% shares of ownership

 

(1) OrionStar Group became the subsidiary of the Company since November 30, 2023. As a result, OrionStar Group was not considered as the Group’s related party since then.

(2) Live.me ceased to be a related party of the Group since March 2025, all the shares held by the Group were redeemed by Live.me in February 2025.

b) Material related party transactions

In addition to the transactions detailed elsewhere in these financial statements, the Group had the following material related party transactions for the years ended December 31, 2023, 2024 and 2025:

 

 

 

For the year ended December 31,

 

 

 

2023

 

2024

 

2025

 

 

 

RMB

 

RMB

 

RMB

 

US$

Services received from:

 

(i)

 

 

 

 

 

 

 

 

Kingsoft Group

 

 

 

14,248

 

12,243

 

12,679

 

1,813

Tencent Group

 

 

 

13,293

 

19,444

 

38,350

 

5,484

OrionStar Group

 

 

 

2,324

 

—

 

—

 

—

Services provided to:

 

(ii)

 

 

 

 

 

 

 

 

Tencent Group

 

 

 

9,565

 

6,668

 

52,832

 

7,555

OrionStar Group

 

 

 

2,402

 

—

 

—

 

—

Pixiu Group

 

 

 

972

 

1,220

 

1,134

 

162

Live.me Group

 

 

 

35,006

 

27,531

 

3,594

 

514

Sales of products and equipment:

 

 

 

 

 

 

 

 

 

 

Others

 

 

 

—

 

17,726

 

2,246

 

321

Loans and interest received from :

 

 

 

 

 

 

 

 

 

 

Pixiu Group

 

(iii)

 

1,458

 

1,519

 

6,369

 

911

Loans and interest repaid to:

 

 

 

 

 

 

 

 

 

 

Others

 

 

 

—

 

—

 

49,693

 

7,106

Purchase of equity interests from:

 

 

 

 

 

 

 

 

 

 

Kingsoft Group

 

(iv)

 

—

 

—

 

14,515

 

2,076

 

(i)
The Group entered into agreements with Kingsoft Group pursuant to which Kingsoft Group provided services including cloud services, leasing, license and other miscellaneous services to the Group; The Group entered into agreements with Tencent Group pursuant to which Tencent Group provided promotion, distribution and cloud services to the Group; The Group entered into agreements with OrionStar Group pursuant to which OrionStar Group provided technical support services to the Group.
(ii)
The Group entered into agreement with Tencent Group to provide online marketing services to Tencent Group; The Group entered into agreement with Live.me, Pixiu Group and OrionStar Group to provide technical support, multi-cloud management and other services.
(iii)
The Group entered into loan agreements with Pixiu Group including a 3-year capital allocation loan which the original expiration date was January 2022 and renewed annually after 2022. The expiration date for the remaining principal balance is extended to November 2026.
(iv)
During the year ended December 31, 2025, Kingsoft Japan, a subsidiary of the Group, repurchased equity interests in Kingsoft Japan from Kingsoft Group for a cash consideration of RMB14,515 (US$2,076). The transaction did not result in a change of control.

 

c. Balances of related party transactions

 

The balances between the Group and its related parties as of December 31, 2024 and 2025 are listed below:

(1)
Amount due from related parties, net

 

As of December 31,

 

2024

 

2025

 

RMB

 

RMB

 

US$

Live.me Group

 

11,877

 

—

 

—

Tencent Group

 

40,481

 

50,516

 

7,224

Pixiu Group

 

21,839

 

17,245

 

2,466

Kingsoft Group

 

6,455

 

5,716

 

817

Other related parties

 

26,282

 

21,344

 

3,052

Total

 

106,934

 

94,821

 

13,559

 

The movements in the allowance for credit losses were as follows:

 

Year ended December 31,

 

2024

 

2025

 

RMB

 

RMB

 

US$

Balance as of January 1

 

35,582

 

36,847

 

5,269

Addition/(Reverse)

 

1,128

 

(102)

 

(15)

Foreign Exchange effect

 

137

 

(83)

 

(12)

Total

 

36,847

 

36,662

 

5,242

 

(2)
Amount due to related parties

 

As of December 31,

 

2024

 

2025

 

RMB

 

RMB

 

US$

Tencent Group

 

12,570

 

9,554

 

1,366

Kingsoft Group

 

2,662

 

3,461

 

495

Other related parties(i)

 

54,374

 

5,598

 

801

Total

 

69,606

 

18,613

 

2,662

 

(i)
As of December 31, 2025, amounts due to other related parties primarily consisted of gaming revenue share payables. The decrease in the balance as compared to the prior year end was attributable to the repayment by Beijing OrionStar of a RMB49,693 (US$7,106) convertible loan to Mr. Sheng Fu, chief executive officer and director of the Group.