v3.26.3
Taxes (Tables)
6 Months Ended
Jun. 30, 2026
Taxes.  
Schedule of components of the income tax provision

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​

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​

​

  ​ ​ ​

For the six months ended June 30,

​

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2026

​

​

RMB

​

RMB

​

US$

Current

​

34,806

​

12,711

​

1,873

Deferred

​

(232,572)

​

(869,289)

​

(128,117)

Total income taxes benefit

​

(197,766)

​

(856,578)

​

(126,244)

Schedule of reconciliation of China statutory rates to the Group's effective tax rate

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​

For the six months ended June 30,

​

​

2025

  ​ ​ ​

2026

​

Statutory rate in the PRC

25.0

%

25.0

%

Effect of the PRC preferential tax rate

(2.0)

%

(0.9)

%

Foreign tax rate differential

(19.3)

%

(23.4)

%

R&D additional deduction

2.7

%  

0.4

%

Non-deductible expenses*

3.2

%

0.6

%

Change in valuation allowance

(5.2)

%

(0.0)

%

Effective tax rate

4.4

%

1.7

%

*Non-deductible expenses mainly represent expenditures not deductible for PRC tax purposes.

Schedule of taxes payable

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As of

​

As of

​

As of

​

  ​ ​ ​

December 31, 

  ​ ​ ​

June 30,

  ​ ​ ​

June 30,

​

​

2025

​

2026

​

2026

​

​

RMB

​

RMB

​

US$

Income tax payable

 

1,452,052

 

1,407,082

 

207,378

Value-added tax payable

 

57,082

 

65,678

 

9,680

Total taxes payable

 

1,509,134

 

1,472,760

 

217,058

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