CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME ¥ in Thousands, $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
|
Dec. 31, 2025
CNY (¥)
¥ / shares
shares
|
Dec. 31, 2025
USD ($)
$ / shares
shares
|
Dec. 31, 2024
CNY (¥)
¥ / shares
shares
|
Dec. 31, 2023
CNY (¥)
¥ / shares
shares
|
|
| Net revenues: | ||||
| Total net revenues | ¥ 49,288,095 | $ 7,034,825 | ¥ 34,474,814 | ¥ 24,903,166 |
| Cost of materials | (18,783,453) | (2,680,938) | (14,083,291) | (10,897,409) |
| Store rental and other operating costs | (11,241,945) | (1,604,548) | (8,540,683) | (5,167,482) |
| Depreciation and amortization expenses | (1,557,383) | (222,283) | (1,190,037) | (604,580) |
| Delivery expenses | (6,878,700) | (981,800) | (2,821,069) | (2,010,699) |
| Sales and marketing expenses | (2,595,705) | (370,482) | (1,920,305) | (1,286,523) |
| General and administrative expenses | (3,057,020) | (436,324) | (2,420,462) | (1,829,651) |
| Store preopening and other expenses | (85,412) | (12,191) | (69,556) | (109,685) |
| Impairment loss of long-lived assets | (8,500) | (1,212) | (8,925) | (5,229) |
| Losses and expenses related to Fabricated Transactions and Restructuring | (7,013) | (1,001) | 149,583 | 28,515 |
| Total operating expenses | (44,215,160) | (6,310,772) | (30,904,745) | (21,882,743) |
| Operating income | 5,072,935 | 724,053 | 3,570,069 | 3,020,423 |
| Interest and investment income | 188,630 | 26,923 | 89,195 | 108,682 |
| Interest and financing expenses | (125) | (18) | (3,924) | |
| Foreign exchange gain/(loss), net | (26,747) | (3,818) | (13,239) | 2,968 |
| Other income, net | 80,808 | 11,534 | 84,161 | 62,283 |
| Provision for equity litigants settlement | (35,326) | (5,042) | (92,192) | |
| Income before income taxes | 5,280,175 | 753,632 | 3,726,262 | 3,102,164 |
| Income tax expense | (1,679,793) | (239,755) | (770,553) | (258,127) |
| Net income | 3,600,382 | 513,877 | 2,955,709 | 2,844,037 |
| Net income attributable to the Company's ordinary shareholders | ¥ 3,600,382 | $ 513,877 | ¥ 2,955,709 | ¥ 2,844,037 |
| Net income per share: | ||||
| Basic | (per share) | ¥ 1.4 | $ 0.2 | ¥ 1.16 | ¥ 1.12 |
| Diluted | (per share) | ¥ 1.4 | $ 0.2 | ¥ 1.16 | ¥ 1.12 |
| Weighted average shares outstanding used in calculating basic and diluted income per share: | ||||
| Basic | 2,565,138,656 | 2,565,138,656 | 2,545,968,813 | 2,532,109,710 |
| Diluted | 2,568,173,041 | 2,568,173,041 | 2,548,002,050 | 2,532,563,302 |
| Net income | ¥ 3,600,382 | $ 513,877 | ¥ 2,955,709 | ¥ 2,844,037 |
| Other comprehensive (loss)/income, net of tax of nil: | ||||
| Foreign currency translation difference, net of tax of nil | (106,894) | (15,257) | 41,592 | (360) |
| Total comprehensive income | 3,493,488 | 498,620 | 2,997,301 | 2,843,677 |
| Total comprehensive income attributable to the Company's ordinary shareholders | 3,493,488 | 498,620 | 2,997,301 | 2,843,677 |
| Revenues from product sales | ||||
| Net revenues: | ||||
| Total net revenues | 37,694,400 | 5,380,100 | 26,729,523 | 18,677,390 |
| Revenues from partnership stores | ||||
| Net revenues: | ||||
| Total net revenues | ¥ 11,593,690 | $ 1,654,752 | ¥ 7,745,291 | ¥ 6,225,776 |
| X | ||||||||||
- Definition Amount of costs of deliveries made to customers for the period. No definition available.
|
| X | ||||||||||
- Definition Amount of losses and expenses related to fabricated transactions and restructuring. No definition available.
|
| X | ||||||||||
- Definition Amount of provision for equity litigants settlement. No definition available.
|
| X | ||||||||||
- Definition Amount of store preopening expenses and other expenses incurred during the period. No definition available.
|
| X | ||||||||||
- Definition Amount of store rental expenses and other operating costs incurred during the period. No definition available.
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Cost of material used for good produced and service rendered. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|