v3.26.1
PROPERTY, EQUIPMENT AND SOFTWARE, NET
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND SOFTWARE, NET

5. PROPERTY, EQUIPMENT AND SOFTWARE, NET

Property, equipment and software consisted of the following:

 

 

 

As of December 31,

 

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

Electronic equipment

 

 

157,147

 

 

 

189,838

 

Building

 

 

489,929

 

 

 

629,032

 

Leasehold improvement

 

 

203,857

 

 

 

264,949

 

Furniture and office equipment

 

 

14,298

 

 

 

24,296

 

Software

 

 

19,842

 

 

 

22,388

 

Construction in progress

 

 

786

 

 

 

173,436

 

Total

 

 

885,859

 

 

 

1,303,939

 

Less: Accumulated depreciation

 

 

(215,622

)

 

 

(294,807

)

 

 

670,237

 

 

 

1,009,132

 

 

Depreciation expenses were RMB50,732, RMB60,985 and RMB104,076 for the years ended December 31, 2023, 2024 and 2025, respectively. No impairment loss on property, equipment and software was recorded during the years ended December 31, 2023, 2024 and 2025.