As of December 31, 2024, the Group had short-term borrowings from banks which were repayable within one year or on demand and charged interest rates ranging

from 2.5% to 3.6% per annum. As of December 31, 2024, the weighted average interest rate of these borrowings was 3.1% per annum. The borrowings are primarily denominated in RMB and US$. These borrowings were obtained from financial institutions located in the Hong Kong and secured by the Group’s short-term deposits of US$367,000. As

of December 31, 2025, the short-term borrowings of RMB2,365,535 had been fully repaid, and the pledged short-term deposits of US$367,000 were released.

The long-term borrowings, current portion outstanding as of December 31, 2024 bore an interest rate of 3.8% per annum, and were denominated in RMB. These borrowings were obtained from financial institutions located in the PRC and secured by the Group’s long-term deposits of RMB2,652,307 as of December 31, 2024.

As of December 31, 2025, the borrowings of RMB1,938,385 had been fully repaid, and the pledged long-term deposits of RMB2,652,307 were released.

The long-term borrowings (including current portion) outstanding as of December 31, 2025 bore interest at rates ranging from 0.63% to 2.0% per annum and were denominated in local currencies. As of December 31, 2025, the weighted average interest rate of these borrowings was 1.75% per annum. These borrowings were obtained by the Group’s overseas subsidiaries from local financial institutions.

As of December 31, 2025, the long-term borrowings, including the portion due within one year which were recorded in “Long-term borrowings, current portion”, will be repaid according to the following schedule: