v3.26.1
Bank Borrowings
12 Months Ended
Dec. 31, 2025
Bank Borrowings.  
Bank Borrowings

10. Bank Borrowings

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Bank borrowings consist of the following:

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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

Short-term bank borrowings

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The PRC domestic commercial banks

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9,513,958

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10,374,971

Oversea commercial banks

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—

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559,448

Total

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9,513,958

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10,934,419

Long-term bank borrowings

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The PRC domestic commercial banks

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—

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18,000

Total

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—

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18,000

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The weighted average interest rates on short-term bank borrowings as of December 31, 2024 and 2025 were 1.20% and 1.13%, respectively. The weighted average interest rate on long-term bank borrowings as of December 31, 2025 was 2.40%.