v3.26.1
Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income ¥ 1,390,122 $ 198,785 ¥ 1,623,349 ¥ 1,925,409
Adjustments to reconcile net income to net cash from operating activities:        
Depreciation of property and equipment 110,480 15,800 123,647 167,775
Amortization of intangible assets 74,145 10,603 74,334 76,688
Amortization of operating lease assets 88,793 12,697 106,527 108,111
Gain on disposal of property and equipment (2,901) (415) (1,834) (874)
Provision for credit losses 32,667 4,671 35,293 (24,359)
Share of results of equity method investments (102,770) (14,695) 109,094 (29,133)
Fair value change of short-term investments 39,523 5,652 (44,881) (29,699)
Fair value change of long-term investments (24,783) (3,544) 0 0
Share-based compensation 218,974 31,313 192,024 195,092
Deferred income taxes 35,812 5,121 (42,525) (49,963)
Changes in operating assets and liabilities:        
Accounts receivable (188,638) (26,976) 77,842 479,943
Amounts due from related parties, current 20,358 2,911 (47,518) 33,205
Prepaid expenses and other current assets 92,716 13,258 (57,086) (244,111)
Amounts due from related parties, non-current (6,188) (885) 12,527 (6,629)
Other non-current assets (51,331) (7,340) (33,673) (192,988)
Accrued expenses and other payables (594,277) (84,980) (135,027) 366,969
Advance from customers (8,193) (1,172) 897 9,332
Deferred revenue (106,058) (15,166) (524,687) (345,550)
Income tax payable (102,923) (14,718) (42,762) (23,861)
Amounts due to related parties (24,511) (3,505) 13,678 (2,524)
Other liabilities (1,559) (223) (66,084) 38,596
Net cash generated from operating activities 889,462 127,191 1,373,135 2,451,429
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchase of property and equipment (118,057) (16,882) (139,996) (78,567)
Proceeds from disposal of property and equipment 5,809 831 3,963 921
Purchase of intangible assets 0 0 0 (329)
Purchase of short-term investments (28,732,370) (4,108,674) (21,057,787) (17,512,173)
Purchase of long-term investments (2,100,000) (300,296) 0 0
Maturity of short-term investments 33,096,465 4,732,732 18,142,153 18,590,497
Net cash generated from/(used in) investing activities 2,151,847 307,711 (3,051,667) 1,000,349
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from exercise of share options 24 3 2,051 296
Payment of dividends (1,481,245) (211,815) (1,480,752) (490,990)
Payments for repurchase of ordinary shares (1,051,983) (150,432) (223,062) (633,799)
Net cash used in financing activities (2,533,204) (362,244) (1,701,763) (1,124,493)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (40,300) (5,764) 39,260 (14,612)
Net (decrease)/increase in cash and cash equivalents and restricted cash 467,805 66,894 (3,341,035) 2,312,673
Cash and cash equivalents and restricted cash at beginning of year 1,787,112 255,554 5,128,147 2,815,474
Cash and cash equivalents and restricted cash at end of year 2,254,917 322,448 1,787,112 5,128,147
Supplemental disclosures of cash flow information:        
Income tax paid (net of refunds) 187,941 26,875 153,498 159,094
Purchase of fixed assets included in accrued expenses and other payables 16,444 2,351 24,569 35,216
Dividends declared but not paid 976,382 139,621 990,529 984,332
Cash paid for operating lease cost 91,260 13,050 111,042 113,000
Right-of-use assets acquired under operating leases ¥ 60,158 $ 8,602 ¥ 15,510 ¥ 192,100