Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Reconciliation of Cash, Cash Equivalents and Restricted Cash |
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows:
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As of December 31, |
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2023 |
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2024 |
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2025 |
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RMB |
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RMB |
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RMB |
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US$ |
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(in thousands) |
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Amounts shown in Consolidated Balance Sheets: |
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Cash and cash equivalents |
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4,996,353 |
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1,693,597 |
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2,175,493 |
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311,091 |
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Restricted cash |
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131,794 |
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93,515 |
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79,424 |
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11,357 |
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Total cash, cash equivalents and restricted cash as
shown in Consolidated Statements of Cash
Flows |
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5,128,147 |
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1,787,112 |
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2,254,917 |
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322,448 |
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| Schedule of Estimated Useful Life of Property and Equipment |
Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows:
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Category |
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Estimated useful life |
Electronic equipment |
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3 – 5 years |
Office equipment |
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3 – 5 years |
Motor vehicles |
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4 – 5 years |
Software |
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3 – 5 years |
Leasehold improvements |
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Shorter of lease term or the estimated useful lives of the assets |
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| Schedule of Estimated Useful Life of Intangible Assets |
The estimated useful life for the intangible assets is as follows:
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Category |
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Estimated useful life |
Technologies |
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5 years |
Trademarks |
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3-15 years |
Customer relationship |
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5 years |
Domain names |
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4-10 years |
Database |
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5 years |
Licensing agreements |
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1.75 years |
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| Schedule of Operating Lease in its Unaudited Consolidated Balance Sheet |
As of December 31, 2024 and 2025, the Company recognized the following items related to operating lease in its consolidated balance sheets.
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As of December 31, |
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2024 |
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2025 |
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RMB |
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RMB |
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US$ |
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(in thousands) |
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Operating lease ROU assets |
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98,921 |
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62,168 |
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8,890 |
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Operating lease liabilities, current portion |
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73,610 |
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39,207 |
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5,607 |
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Operating lease liabilities, non-current portion |
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23,103 |
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21,544 |
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3,079 |
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| Lease, Cost |
Lease cost recognized in the Company’s consolidated statements of comprehensive income is summarized as follows:
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Year ended December 31, |
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2023 |
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2024 |
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2025 |
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Classification |
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RMB |
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RMB |
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RMB |
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US$ |
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(in thousands) |
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Operating lease cost |
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119,484 |
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114,311 |
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92,926 |
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13,288 |
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Cost of revenues |
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15,193 |
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12,175 |
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8,850 |
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1,266 |
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Operating expenses |
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104,291 |
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102,136 |
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84,076 |
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12,022 |
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Cost of other leases with terms less than one year |
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91,815 |
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91,446 |
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84,895 |
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12,140 |
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Cost of revenues |
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82,975 |
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86,576 |
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81,766 |
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11,692 |
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Operating expenses |
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8,840 |
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4,870 |
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3,129 |
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|
448 |
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| Lessee, Operating Lease, Liability, Maturity |
Maturities of operating lease liabilities as of December 31, 2025 are as follows:
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Amounts |
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RMB |
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US$ |
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(in thousands) |
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2026 |
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40,524 |
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5,795 |
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2027 |
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20,091 |
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2,873 |
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2028 |
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2,274 |
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|
325 |
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Total lease payments |
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62,889 |
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8,993 |
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Less imputed interest |
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(2,137 |
) |
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(306 |
) |
Total |
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60,752 |
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8,687 |
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