The Group has operating leases mainly for offices and warehouses. For the years ended December 31, 2022, 2023 and 2024, operating lease costs were RMB557,477, RMB1,200,344 and RMB2,095,867 (US$287,133), respectively; and short-term lease costs were RMB174,402, RMB178,288 and RMB118,554 (US$16,242), respectively. There were no leasing costs other than the operating lease costs and short-term lease costs for the years ended December 31, 2022, 2023 and 2024.

A maturity analysis of the Company’s operating lease liabilities and reconciliation of the undiscounted cash flows to the operating lease liabilities recognized in the consolidated balance sheets was as below:

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As of December 31, 2024, the Company did not have any significant operating leases that had not yet commenced.

As of December 31, 2022, 2023 and 2024, the weighted average remaining lease term was 2.87 years, 3.07 years and 3.09 years, respectively, and the weighted average discount rate was 4.05%, 3.44% and 3.42% for the Company’s operating leases, respectively.

Other supplemental information related to leases is summarized below:

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