v3.26.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions
12.
RELATED PARTY TRANSACTIONS

 

After the completion of share transfer between Yun Chen and CARTECH in August 2025, Haier Group became the Company’s related party since then. And as Ping An Group still has one seat in the Board of Directors and above 5% of the total issued and outstanding shares of the Company, the identity of the related party has remained unchanged.

During the years ended December 31, 2023, 2024 and 2025, related party transactions were as follows:

 

 

Year ended December 31,

 

 

2023

 

 

2024

 

 

2025

 

 

RMB

 

 

RMB

 

 

RMB

 

 

US$

 

 

(in thousands)

 

Services provided to Ping An Group (a)

 

 

134,378

 

 

 

305,958

 

 

 

320,509

 

 

 

45,832

 

Services provided to Haier Group (b)

 

 

—

 

 

 

—

 

 

 

5,054

 

 

 

723

 

Net revenues from related parties

 

 

134,378

 

 

 

305,958

 

 

 

325,563

 

 

 

46,555

 

 

 

 

 

 

 

 

 

 

 

 

 

Services provided by and assets purchased
   from Ping An Group (c)

 

 

191,413

 

 

 

209,820

 

 

 

164,545

 

 

 

23,530

 

Services provided by and assets purchased
   from Haier Group (d)

 

 

—

 

 

 

—

 

 

 

9,046

 

 

 

1,294

 

Services provided by and assets purchased
   from other related parties

 

 

94

 

 

 

612

 

 

 

—

 

 

 

—

 

Services provided by related parties

 

 

191,507

 

 

 

210,432

 

 

 

173,591

 

 

 

24,824

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income from Ping An Group

 

 

202,304

 

 

 

215,253

 

 

 

114,424

 

 

 

16,362

 

 

 

As of December 31, 2024 and 2025, balances with related parties were as follows:

 

 

As of December 31,

 

 

2024

 

 

2025

 

 

RMB

 

 

RMB

 

 

US$

 

 

(in thousands)

 

Amounts due from related parties, current

 

 

 

 

 

 

 

 

 

Ping An Group (e)

 

 

63,957

 

 

 

42,413

 

 

 

6,065

 

Haier Group

 

 

—

 

 

 

1,186

 

 

 

170

 

 

 

63,957

 

 

 

43,599

 

 

 

6,235

 

Amounts due from related parties, non-current

 

 

 

 

 

 

 

 

 

Ping An Group (e)

 

 

3,521

 

 

 

9,709

 

 

 

1,388

 

 

 

 

 

 

 

 

 

 

Amounts included in “Cash and cash equivalents” (f)

 

 

158,589

 

 

 

73,415

 

 

 

10,498

 

Amounts included in “Short-term investments” (f)

 

 

4,935,177

 

 

 

2,006,611

 

 

 

286,942

 

Amounts included in “Restricted cash” (f)

 

 

91,809

 

 

 

79,424

 

 

 

11,357

 

Amounts included in “Lease liabilities” (f)

 

 

83,879

 

 

 

52,430

 

 

 

7,498

 

 

 

 

 

 

 

 

 

 

Amounts due to related parties

 

 

 

 

 

 

 

 

 

Haier Group (g)

 

 

—

 

 

 

9,079

 

 

 

1,299

 

Ping An Group (h)

 

 

38,235

 

 

 

4,645

 

 

 

664

 

Other related parties

 

 

15

 

 

 

15

 

 

 

2

 

 

 

38,250

 

 

 

13,739

 

 

 

1,965

 

 

(a)
The amount represents (i) the commission fee for transaction facilitation service on financial product including loan and insurance products, (ii) advertising services and (iii) technical services provided to Ping An Group.
(b)
The amount represents advertising services and technical services provided to Haier Group.
(c)
The amount represents rental and property management services, technical services, other miscellaneous services and assets provided by Ping An Group.
(d)
The amount represents vehicles rental services and other miscellaneous services provided by Haier Group.
(e)
Receivable from Ping An Group primarily consists of deposit in relation to the operating lease and other agreements, and service fee receivable.
(f)
The Company has cash or time deposits in commercial banks associated with Ping An Group and purchased certain short-term cash management products issued by Ping An Group as a part of the Company’s cash management plan. The Company has lease liabilities associated with Ping An Group under certain lease agreements.
(g)
The outstanding payable to Haier Group primarily consists of payable for vehicles rental services and other miscellaneous services.
(h)
The outstanding payable to Ping An Group primarily consists of payable for provision of services related to business operation, IDC service fee and other miscellaneous services.