v3.26.1
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-based Compensation  
Schedule of the assumption of the estimated fair value of each option granted

  ​ ​ ​

For the year ended December 31, 

 

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Risk-free interest rate

 

4.1%~4.3

%  

4.0%~4.4

%  

4.4

%

Expected volatility

 

49.7%~50.0

%  

50.0%~58.5

%  

60.0

%

Expected dividends yields

 

 

 

Expected term (years)

 

10

 

10

 

10

Discount for lack of marketability (“DLOM”)

 

12.5%~13.8

%  

7.3%~9.5

%  

Schedule of company's share options activities

  ​ ​ ​

  ​ ​ ​

Weighted

  ​ ​ ​

Weighted

  ​ ​ ​

Weighted

  ​ ​ ​

Average

Average

Average

Aggregated

Number of 

Exercise

Remaining

Grant-date

intrinsic

Options

Price

Contractual life

Fair Value

value

US$

US$

RMB

Outstanding on January 1, 2023

20,554,900

0.11

8.09

0.49

283,331

Granted

2,984,900

0.28

2.14

Exercised

(6,994,625)

0.36

0.40

Forfeited

(1,610,200)

0.20

1.29

Outstanding on December 31, 2023

14,934,975

0.14

6.95

0.76

271,425

Vested and exercisable on December 31, 2023

2,896,945

0.10

6.44

0.39

Outstanding on January 1, 2024

 

14,934,975

 

0.14

 

6.95

 

0.76

 

271,425

Granted

 

8,517,000

 

0.32

 

2.65

Forfeited

 

(985,700)

 

0.25

 

 

1.84

 

Outstanding on December 31, 2024

 

22,466,275

 

0.20

 

7.51

 

1.43

 

501,656

Vested and exercisable on December 31, 2024

 

10,098,860

 

0.11

 

6.11

 

0.49

 

Outstanding on January 1, 2025

 

22,466,275

 

0.20

 

7.51

 

1.43

 

501,656

Granted

 

2,409,800

 

0.40

 

2.18

Exercised

(361,212)

0.17

1.07

Forfeited

 

(958,250)

 

0.29

 

 

2.25

 

Outstanding on December 31, 2025

 

23,556,613

 

0.22

 

6.74

 

1.48

 

543,708

Vested and exercisable at December 31, 2025

 

13,982,607

 

0.14

 

5.58

 

0.82

 

Schedule of changes in the RSUs relating to ordinary shares granted

  ​ ​ ​

  ​ ​ ​

Weighted-average 

Number of RSUs

grant date fair value

US$

Awarded and unvested as of January 1, 2025

Granted

 

2,798,862

 

3.34

Vested

 

(19,614)

 

4.34

Awarded and unvested as of December 31, 2025

 

2,779,248

 

3.34

Schedule of company's activities of restricted shares

  ​ ​ ​

Number of Shares

Unvested on January 1, 2023

50,000,000

Granted

 

Vested

 

(25,000,000)

Unvested on December 31, 2023

 

25,000,000

Unvested on January 1, 2024

 

25,000,000

Granted

 

Vested

 

(25,000,000)

Unvested on December 31, 2024

 

Schedule of share-based compensation recognized in operating expenses

  ​ ​ ​

For the year ended December 31, 

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

RMB

RMB

RMB

Operations and support

29

39

Selling and marketing expenses

 

1,779

14,222

 

13,520

General and administrative expenses

 

29,719

34,404

 

37,674

Research and development expenses

 

5,612

15,362

 

23,086

Total

 

37,110

64,017

 

74,319