| Assets measured at fair value on a recurring basis or disclosed at fair value |
Assets measured at fair value on a recurring basis or disclosed at fair value
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Fair Value Measurement or Disclosure at
December 31, 2025 Using |
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Quoted Prices
in Active Market
for Identical
Assets (Level 1) |
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Significant
Other
Observable
Inputs (Level 2) |
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Unobservable
Inputs
(Level 3) |
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Fair Value at
December 31, 2025 |
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RMB |
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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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Cash equivalents |
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Time deposits |
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— |
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— |
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— |
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— |
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— |
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Short-term investments |
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Time deposits |
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— |
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12,838,137 |
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— |
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12,838,137 |
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1,835,829 |
|
Adjustable-rate financial products |
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— |
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4,264,781 |
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— |
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4,264,781 |
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609,856 |
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Equity investments with readily
determinable fair value |
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8,093 |
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— |
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— |
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8,093 |
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1,157 |
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Other long-term investments |
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Adjustable-rate financial products |
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— |
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2,124,783 |
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— |
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2,124,783 |
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303,840 |
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8,093 |
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19,227,701 |
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— |
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19,235,794 |
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2,750,682 |
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Fair Value Measurement or Disclosure at
December 31, 2024 Using |
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|
Quoted Prices
in Active Market
for Identical
Assets (Level 1) |
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|
Significant
Other
Observable
Inputs (Level 2) |
|
|
Unobservable
Inputs
(Level 3) |
|
|
Fair Value at
December 31,
2024 |
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|
RMB |
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RMB |
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|
RMB |
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RMB |
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(in thousands) |
|
Cash equivalents |
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Time deposits |
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— |
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7,188 |
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— |
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7,188 |
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Short-term investments |
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Time deposits |
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— |
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15,196,867 |
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— |
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15,196,867 |
|
Adjustable-rate financial products |
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— |
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6,471,968 |
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— |
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6,471,968 |
|
Equity investments with readily
determinable fair value |
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5,479 |
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— |
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— |
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5,479 |
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5,479 |
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21,676,023 |
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— |
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21,681,502 |
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