v3.26.1
Short-term Investments
12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Short-term Investments
4.
Short-term Investments
Short-term investments as of December 31, 2024 and 2025 consisted of the following:
 
    
As of December 31, 2024
 
    
Cost
    
Gross
unrealized gains
    
Gross

unrealized losses
    
Foreign currency
exchange gains
    
Fair value
carrying amount
 
    
RMB
    
RMB
    
RMB
    
RMB
    
RMB
 
Wealth management products
     503,733        4,885        —         5,065        513,683  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
    
As of December 31, 2025
 
    
Cost
    
Gross
unrealized gains
    
Gross

unrealized losses
    
Foreign currency
exchange losses
    
Fair value
carrying amount
 
    
RMB
    
RMB
    
RMB
    
RMB
    
RMB
 
Wealth management products
     824,564        36,290        —         (17,622      843,232  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
The Group’s short-term investments are primarily investments in trading instruments issued by oversea reputable financial institutions.
For the years ended December 31, 2023, 2024 and 2025, the Group recognized interest and investment income of RMB806, RMB10,177 and RMB36,748 (US$5,255) from short-term investments, respectively.