v3.26.1
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Measurement [Abstract]  
Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2024:

 

For the year Ended December 31, 2023   Quoted prices
in active
markets
(Level 1)
    Significant
observable
inputs
(Level 2)
    Significant
unobservable
inputs
(Level 3)
 
    RMB     RMB     RMB  
Financial assets at fair value through                  
Exchangeable Notes                 20,681  

 

For the Year Ended December 31, 2024   Quoted prices
in active
markets
(Level 1)
    Significant
observable
inputs
(Level 2)
    Significant
unobservable
inputs
(Level 3)
 
    RMB     RMB     RMB  
Financial assets at fair value through                  
Exchangeable Notes                 20,990  
Schedule of Fair Values of ODI Convertible Loans and Exchangeable Notes

The fair values of the ODI Convertible Loans and Exchangeable Notes were estimated with the following key assumptions with no change for the years ended December 31, 2024:

 

    As of
December 31,
2023
 
Risk-free rate of return (per annum)     6.19% – 6.24%  
Expected Volatility     59.21%  
Expected dividend yield     0%  
Expected Term     0.69 years  
Applied bond yield     14.49%  
Yield for value of credit risk     13.91%  
Fair value of underlying ordinary shares/preferred shares     US$0.11 – US$0.14