v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information
22.
SEGMENT INFORMATION
The Group’s chief operating decision maker has been identified as the
Chief Executive Officer
(“CEO”) who reviews separate financial information of operating segments when making decisions about allocating resources and assessing performance of the Group. The Company’s chief operating decision maker does not review assets by segment in his resource allocation and therefore assets by segment are not disclosed below.
During the years ended December 31, 2023 and 2024, the Group determined that it operated in three operating segments namely Momo, Tantan and QOOL given that the related financial information is separately reviewed by the Group’s CEO. Momo’s services mostly include live video services, value-added services, mobile marketing services and mobile games derived from the Momo’s platform and other applications. Tantan’s services mainly include value-added services and live video services provided on Tantan’s platform. QOOL services mainly include advertisement services generated from the Group’s broadcasting of content television.
Effective from January 1, 2025, following the cessation of QOOL’s operations and given the diminished scale of Tantan’s operations relative to the Group’s overall business, the Company’s chief operating decision maker began reviewing the Group’s financial performance on a consolidated basis as a single operating segment. This change aligns the Company’s segment disclosure with the financial information that the chief operating decision maker currently receives and uses to allocate resources and assess performance. Prior period segment information has been retrospectively revised to conform to the current presentation.
The Group’s chief operating decision maker uses the consolidated net income to monitor budget versus actual results when making decisions about allocating resources and assessing performance of the Group.
The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2023, 2024 and 2025 were as follows:
 
     For the years ended December 31,  
        
     2023      2024      2025  
     RMB      RMB      RMB  
Net revenues:
      12,002,323        10,562,971        10,367,096  
Less:
         
Revenue Sharing
      (6,079,947 )       (5,496,231 )       (5,459,117 ) 
Other cost of revenues
      (945,447 )       (951,110 )       (987,502 ) 
Research and development
      (884,590 )       (804,425 )       (779,449 ) 
Sales and marketing
      (1,414,949 )       (1,329,780 )       (1,368,658 ) 
General and administrative
      (502,479 )       (507,658 )       (455,393 ) 
Interest expense
      (62,223 )       (127,846 )       (72,438 ) 
Income tax expenses
      (630,023 )       (845,022 )       (842,869 ) 
Other segment items (note)
      469,030        538,674        404,855  
  
 
 
     
 
 
     
 
 
  
Net income
      1,951,695        1,039,573        806,525  
  
 
 
     
 
 
     
 
 
  
Note: Other segment items includes other operating income, interest income, other gain or (loss), net, and share of (loss) income on equity method investments.
 
The following table presents interest income, share of (loss) income on equity method investments and depreciation and amortization expenses for the years ended December 31, 2023, 2024 and 2025:
 
    
For the years ended December 31,
  
    
2023
     
2024
     
2025
  
    
RMB
     
RMB
     
RMB
  
Interest income
      436,253        510,964        374,466  
Share of (loss) income on equity method investments
      (70,643 )       59,216        (12,879 ) 
Depreciation and amortization expenses
      79,608        58,733        81,815  
The following table presents revenues by geographic area based on the addresses of the Group’s users:
 
     For the years ended December 31,  
     2023      2024      2025  
     RMB      RMB      RMB  
Chinese mainland
      11,203,978        9,392,079        8,367,094  
Overseas
      798,345      1,170,892        2,000,002  
  
 
 
     
 
 
     
 
 
  
Total
      12,002,323        10,562,971        10,367,096  
  
 
 
     
 
 
     
 
 
  
The following table sets forth the Group’s long-lived assets by geographic area, which consist of property and equipment, net and operating lease right
of-use
assets:
 
     For the years ended December 31,  
     2024      2025  
     RMB      RMB  
Chinese mainland
      1,101,560        1,127,317  
Singapore
      5,173        331,204  
Rest of the World
      42,472        80,308  
  
 
 
     
 
 
  
Total
      1,149,205        1,538,829