v3.26.3
Condensed Consolidated Balance Sheets Unaudited
¥ in Thousands, $ in Thousands
Jun. 30, 2026
USD ($)
Jun. 30, 2026
CNY (¥)
Dec. 31, 2025
CNY (¥)
Current assets:      
Cash and cash equivalents $ 88,988 ¥ 603,790 ¥ 806,599
Restricted cash 22,599 153,338 164,431
Short-term deposits 41,156 279,247 257,950
Short-term investments 17,804 120,805 82,598
Other receivables from related parties (net of allowance of RMB1 and nil as of December 31, 2024 and December 31, 2025, respectively) 79 537 200
Inventories, net 17,149 116,355 126,879
Prepaid expenses and other current assets 14,644 99,361 157,096
Total current assets 263,868 1,790,366 1,960,461
Non-current assets:      
Prepaid expenses and other non-current assets 2,195 14,893 19,055
Prepaid expenses and other non-current assets 45,895 311,399 305,432
Long-term deposits 2,986 20,260 20,101
Deferred tax assets 3,204 21,737 8,415
Intangible assets, net 830 5,631 6,255
Right-of-use assets, net 96 653 1,646
Land use rights, net 8,253 55,995 56,631
Long-term investment 5,350 36,302 12,952
Long-term investment 68,809 466,870 430,487
TOTAL ASSETS 332,677 2,257,236 2,390,948
Current liabilities:      
Accounts and notes payable (including accounts and notes payable of the consolidated variable interest entities and their subsidiaries (“VIEs”) without recourse to the Company of RMB26 as of December 31, 2025 and June 30, 2026) 69,850 473,936 517,878
Advances from customers 1,809 12,275 10,153
Amount due to related parties 393 2,668 596
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs without recourse to the Company of RMB1,046 and RMB5,853 as of December 31, 2024 and 2025, respectively) 20,466 138,854 157,043
Short-term borrowing 7,369 50,000 40,000
Income tax payables 775 5,261 1,439
Lease liabilities due within one year 67 453 1,310
Long-term borrowing-current portion 3,679 24,959 25,061
Total current liabilities 104,408 708,406 753,480
Non-current liabilities:      
Accrued expenses and other liabilities–non-current portion 7,532 51,108 53,117
Long-term borrowing 5,775 39,187 51,666
Lease liabilities 35 237 421
Total non-current liabilities 13,342 90,532 105,204
Total liabilities 117,750 798,938 858,684
Commitments and contingencies | ¥  
Shareholders’ equity      
Treasury stock | ¥   (112,527) (103,085)
Additional paid-in capital | ¥   1,421,133 1,414,499
Retained earnings | ¥   169,764 226,317
Accumulated other comprehensive income (loss) | ¥   (25,204) (11,080)
Total equity attributable to shareholders of the Company 214,172 1,453,178 1,526,663
Non-controlling interests 755 5,120 5,601
Total shareholders’ equity 214,927 1,458,298 1,532,264
Total liabilities and shareholders' equity 332,677 2,257,236 2,390,948
Common Class A [Member]      
Non-current liabilities:      
Commitments and contingencies | $    
Shareholders’ equity      
Common stock value 1 6 6
Common Class B [Member]      
Shareholders’ equity      
Common stock value 1 6 6
Treasury stock | $ (16,584)    
Additional paid-in capital | $ 209,449    
Retained earnings | $ 25,020    
Accumulated other comprehensive income (loss) | $ (3,715)    
Nonrelated Party [Member]      
Current assets:      
Accounts receivable 3,982 27,015 24,535
Related Party [Member]      
Current assets:      
Accounts receivable $ 57,467 ¥ 389,918 ¥ 340,173