5Short-term investments Short-term investments classification as of December 31, 2025 and June 30, 2026 were shown as below: | | | | | | | | | | | | | | | As of December 31, 2025 | | | | | Gross | | Gross | | Gross | | Gross | | | | | | | unrecognized | | unrecognized | | unrecognized | | unrecognized | | | | | Cost | | holding gains | | holding losses | | gains | | losses | | Fair value | | | RMB | | RMB | | RMB | | RMB | | RMB | | RMB | | | (Audited) | | (Audited) | | (Audited) | | (Audited) | | (Audited) | | (Audited) | Equity investments with readily determinable fair value | | 5,000 | | — | | — | | 90 | | — | | 5,090 | Total short-term investments | | 5,000 | | — | | — | | 90 | | — | | 5,090 |
| | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | | | | | | Gross | | Gross | | Gross | | Gross | | | | | | | | | | | unrecognized | | unrecognized | | unrecognized | | unrecognized | | | | | | | Cost | | holding gains | | holding losses | | gains | | losses | | Fair value | | | RMB | | USD | | RMB | | RMB | | RMB | | RMB | | RMB | | USD | | | (Unaudited) | | (Unaudited) | | (Unaudited) | | (Unaudited) | | (Unaudited) | | (Unaudited) | Held-to-maturity debt investments | | 5,000 | | 737 | | — | | — | | — | | — | | 5,000 | | 737 | Equity investments with readily determinable fair value | | 5,000 | | 737 | | — | | — | | 62 | | — | | 5,062 | | 746 | Total short-term investments | | 10,000 | | 1,474 | | — | | — | | 62 | | — | | 10,062 | | 1,483 |
As of December 31, 2025, the Company’s equity investments with readily determinable fair value represent a purchased private equity fund product (“PE Fund Product”), for which the Company does not have significant influence. As of June 30, 2026, the Company’s short-term investments comprise of bank structured deposits and a PE Fund Product.
|