Share-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Share-based Compensation Arrangement by Share-based Payment Award |
|
| Summary of compensation expenses recognized for share-based awards |
| | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | Research and development expenses | | 1,552,421 | | 1,257,921 | | 782,917 | Selling, general and administrative expenses | | 779,637 | | 1,333,256 | | 438,841 | Cost of sales | | 46,631 | | 39,728 | | 35,996 | Total | | 2,378,689 | | 2,630,905 | | 1,257,754 |
|
| 2019 and 2020 Share Incentive Plan |
|
| Share-based Compensation Arrangement by Share-based Payment Award |
|
| Summary of stock option activities |
| | | | | | | | | | | | | | | Weighted | | | | | | | Weighted | | Average | | Aggregate | | | Number of | | Average | | Remaining | | Intrinsic | | | Options | | Exercise Price | | Contractual Life | | Value | | | | | US$ | | In Years | | US$ | Outstanding as of December 31, 2022 | | 74,336,244 | | 0.10 | | 5.56 | | 750,796 | Granted | | — | | — | | | | | Exercised | | (10,519,982) | | 0.10 | | | | | Forfeited | | (3,508,800) | | 0.10 | | | | | Outstanding as of December 31, 2023 | | 60,307,462 | | 0.10 | | 4.41 | | 1,122,594 | Granted | | — | | — | | | | | Exercised | | (8,109,300) | | 0.10 | | | | | Forfeited | | (2,078,800) | | 0.10 | | | | | Outstanding as of December 31, 2024 | | 50,119,362 | | 0.10 | | 4.81 | | 596,170 | Granted | | — | | — | | | | | Exercised | | (6,705,196) | | 0.10 | | | | | Forfeited | | (355,800) | | 0.10 | | | | | Outstanding as of December 31, 2025 | | 43,058,366 | | 0.10 | | 4.01 | | 360,183 | | | | | | | | | | Vested and expected to vest as of December 31, 2024 | | 49,345,755 | | 0.10 | | 4.79 | | 586,968 | Exercisable as of December 31, 2024 | | 41,387,162 | | 0.10 | | 4.51 | | 492,300 | Vested and expected to vest as of December 31, 2025 | | 42,768,792 | | 0.10 | | 4.00 | | 357,761 | Exercisable as of December 31, 2025 | | 39,274,166 | | 0.10 | | 3.88 | | 328,528 |
|
| Summary of RSU activity |
| | | | | | | | | | | Weighted Average | | Weighted Average | | | Number of | | Grant Date | | Remaining | | | Shares | | Fair Value | | Contractual Life | | | | | US$ | | In Years | Unvested as of December 31, 2022 | | 30,993,124 | | 17.20 | | 9.21 | Granted | | 46,992,750 | | 15.53 | | | Vested | | (12,646,762) | | 15.56 | | | Forfeited | | (3,584,600) | | 15.79 | | | Unvested as of December 31, 2023 | | 61,754,512 | | 16.34 | | 9.14 | Granted | | 6,542,020 | | 10.33 | | | Vested | | (13,934,292) | | 16.08 | | | Forfeited | | (11,285,050) | | 16.31 | | | Unvested as of December 31, 2024 | | 43,077,190 | | 15.37 | | 8.39 | Granted | | 12,764,940 | | 9.27 | | | Vested | | (13,255,380) | | 15.54 | | | Forfeited | | (4,843,730) | | 14.77 | | | Unvested as of December 31, 2025 | | 37,743,020 | | 13.33 | | 8.25 |
|
| 2021 Share Incentive Plan |
|
| Share-based Compensation Arrangement by Share-based Payment Award |
|
| Summary of stock option activities |
| | | | | | | | | | | Weighted | | Weighted Average | | | Number of | | Average Exercise | | Remaining | | | Shares | | Price | | Contractual Life | | | | | US$ | | In Years | December 31, 2022 | | 108,557,400 | | 14.63 | | 8.19 | Granted | | — | | — | | — | December 31, 2023 | | 108,557,400 | | 14.63 | | 7.19 | Granted | | — | | — | | — | December 31, 2024 | | 108,557,400 | | 14.63 | | 6.19 | Granted | | — | | — | | — | December 31, 2025 | | 108,557,400 | | 14.63 | | 5.19 |
|