v3.26.1
Segment Information - Reportable segment results (Details)
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Net Revenues:        
Net revenues ¥ 9,945,483 $ 1,422,186 ¥ 9,422,229 ¥ 8,812,013
Adjusted Operating Profits (Losses):        
Adjusted Operating (Losses) Profits 56,555 8,087 (114,825) (206,380)
Unallocated Expenses:        
Share-based compensation expenses (19,931)   (81,601) (103,449)
Amortization of intangible assets resulting from business acquisition (31,128)   (36,257) (31,875)
Acquisition-related expenses       (12,171)
Cancellation fees of repurchased shares (150)   (678)  
Impairment of goodwill (18,395) (2,630) (6,934) (35,212)
Total other (expenses) income (257,318)   21,838 (10,646)
Loss before income tax (200,763) $ (28,710) (92,987) (217,026)
Operating segments        
Adjusted Operating Profits (Losses):        
Adjusted Operating (Losses) Profits 126,159   10,645 (23,673)
Inter-segment eliminations        
Net Revenues:        
Net revenues (171,164)   (122,393) (80,128)
Adjusted Operating Profits (Losses):        
Adjusted Operating (Losses) Profits (133)   (210)  
E-Commerce        
Unallocated Expenses:        
Impairment of goodwill (18,395)   (6,934) (35,212)
E-Commerce | Operating segments        
Net Revenues:        
Net revenues 8,271,229   8,070,271 7,621,114
Adjusted Operating Profits (Losses):        
Adjusted Operating (Losses) Profits 219,320   179,622 163,990
Brand Management | Operating segments        
Net Revenues:        
Net revenues 1,845,418   1,474,351 1,271,027
Adjusted Operating Profits (Losses):        
Adjusted Operating (Losses) Profits ¥ (93,028)   ¥ (168,767) ¥ (187,663)