v3.26.3
Cryptocurrencies (Tables)
6 Months Ended
Jun. 30, 2026
Crypto Asset, Holding [Line Items]  
Schedule of cryptocurrencies holdings

Cryptocurrency holdings were comprised of the following:

 

   December 31, 2025   June 30, 2026 
   As of     As of 
   December 31,   June 30, 
   2025   2026 
   (RMB in thousands) 
Current assets:          
USDT   6,035    2,357 
           
Non-current assets:          
ETH and staked ETH (Note a)   186,631    98,090 
Bitcoin   886    686 
Others (Note b)   90    83 
Non-current assets   187,607    98,859 
Schedule of cryptocurrencies holdings activity

The following table presents the Group’s cryptocurrency holdings as of December 31, 2025 and June 30, 2026:

 

   As of December 31, 2025   As of June 30, 2026 
Cryptocurrency  Quantity   Cost basis   Fair value   Quantity   Cost basis   Fair value 
       (RMB in thousands)       (RMB in thousands) 
USDT   858,555    6,035    6,035    346,112    2,357    2,357 
ETH and staked ETH (Note a)   8,826    162,933    186,631    9,176    160,226    98,090 
Bitcoin   1    1,051    886    1.72    1,177    686 
Others (Note b)   Multiple    455    90    Multiple    431    83 
ETH and ETH-Coinbase Staked [Member]  
Crypto Asset, Holding [Line Items]  
Schedule of cryptocurrency additional information

The following table presents additional information about the Group’s cryptocurrencies:

 

   2025   2026 
   For the six months ended June 30, 
   2025   2026 
   (RMB in thousands) 
Beginning balance   178,869    193,642 
Purchases of cryptocurrencies in cash   12,719    — 
Cryptocurrencies received from customers   19,315    2,618 
Staking rewards from self-owned cryptocurrencies   —    1,574 
Operating expenses paid in cryptocurrencies   (455)   (7)
Sales and exchanges of cryptocurrencies   (16,342)   (2,509)
Changes in fair value of cryptocurrencies   (27,966)   (89,487)
Foreign exchange differences   (900)   (4,615)
Ending balance   165,240    101,216