v3.26.1
Taxation - Components of deferred tax assets (liabilities) (Details) - CNY (¥)
¥ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:      
Net operating loss carryforwards ¥ 2,102,111 ¥ 1,564,993  
Warranty reserves 1,917,812 1,397,501  
Others 413,950 378,106  
Total deferred tax assets 4,433,873 3,340,600  
Less: Valuation allowance (876,765) (381,506) ¥ (299,355)
Deferred tax assets, net of valuation allowance 3,557,108 2,959,094  
Deferred tax liabilities:      
Accelerated tax depreciation and others (909,589) (1,264,976)  
Fair value change of certain investments (4,965) (16,937)  
Total deferred tax liabilities (914,554) (1,281,913)  
Deferred tax assets, net ¥ 2,642,554 ¥ 1,677,181