v3.26.1
FINANCIAL INFORMATION OF PARENT COMPANY (CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME) (Details)
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Operating expenses:        
Fulfillment ¥ (2,309,755) $ (330,291) ¥ (2,461,591) ¥ (2,507,306)
Sales and marketing (3,847,237) (550,148) (3,380,724) (2,829,016)
Technology and content (463,206) (66,238) (550,289) (505,203)
General and administrative (751,627) (107,481) (719,157) (855,914)
Total operating expenses (9,888,928) (1,414,099) (9,537,054) (9,018,393)
Loss from operations 56,555 8,087 (114,825) (206,380)
Interest income 58,556 8,373 68,752 82,113
Interest expense (44,572) (6,374) (38,987) (41,344)
Share of income (loss) in equity method investments 11,090 1,586 (24,658) 6,253
Unrealized investment (loss) gain (16,574) (2,370) 4,851 (68,031)
Exchange (loss) gain (3,718) (532) (10,213) (8,530)
Fair value change on financial instruments (1,904) (272) 11,838 24,515
Net Income (Loss) (242,100) (34,621) (185,198) (278,422)
Foreign currency translation adjustment (27,084) (3,873) 22,324 16,573
Parent Company        
Operating expenses:        
Fulfillment (1,011) (145) (4,884)  
Sales and marketing (4,679) (669) (16,677) (5,242)
Technology and content (2,006) (287) (11,290)  
General and administrative (24,636) (3,523) (66,865) (27,376)
Other operating income (expenses) 6,628 948 (47) 3,498
Total operating expenses (25,704) (3,676) (99,763) (29,120)
Loss from operations (25,704) (3,676) (99,763) (29,120)
Interest income 5,148 736 15,295 34,379
Interest expense (3) 0 0 0
Share of income (loss) in equity method investments     (21,855)  
Unrealized investment (loss) gain (20,594) (2,945) 15,030 65
Exchange (loss) gain 42,079 6,017 (27,554) (29,245)
Equity in loss of subsidiaries and VIE (245,278) (35,074) (66,433) (279,016)
Fair value change on financial instruments (2,252) (322) (82) (24,515)
Net Income (Loss) (242,100) (34,620) (185,198) (278,422)
Foreign currency translation adjustment (27,084) (3,873) 22,324 16,573
Comprehensive loss ¥ (269,184) $ (38,493) ¥ (162,874) ¥ (261,849)