v3.26.1
Related party transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Related party transactions  
Schedule of related party transactions

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For Year Ended December 31, 

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  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

​

​

RMB

​

RMB

​

RMB

Revenue derived from:

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​

​

​

​

​

Product sales revenue generated from Alibaba Group(1)

 

8,607

 

2,779

 

—

Warehousing service revenue generated from Alibaba Group(1)

 

70,566

 

50,553

 

—

Store operation service revenue generated from Alibaba Group(1)

​

5,728

​

2,210

​

—

IT service revenue generated from Pengtai

​

—

​

—

​

163

Store operation service revenue generated from Pengtai

​

5,232

​

2,079

​

—

Store operation service revenue generated from Signify

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6,493

​

3,942

​

1,507

Store operation service revenue generated from Kewei(1)

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2,985

​

—

​

—

Logistic service revenues collected by Creaway Group

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12,814

​

10,926

​

558

Logistic service revenues generated from Creaway Group

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1,363

​

18,180

​

9,333

Store operation service revenue generated from Aoxue

 

1,522

 

2,771

 

2,478

Store operation service revenue generated from Benwei

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5,375

​

1,477

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—

Others

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1,210

​

192

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—

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​

113,288

​

92,330

​

14,039

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​

​

​

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Service fees:

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Marketing and platform service fees paid to Alibaba Group

 

278,938

 

167,356

 

—

Logistic service fees paid to Alibaba Group

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38,373

​

7,153

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—

Outsourcing labor cost paid to Juxi

 

6,493

 

203

 

—

Marketing and platform service fees paid to Kewei(1)

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16,337

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—

​

—

Logistic service expenses advanced by Creaway Group

​

1,330

​

647

​

390

Logistic service expenses paid to Creaway Group

 

2,902

 

5,429

 

7,307

Logistic service expenses paid to BBD(1)

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718

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—

​

—

IT service fees paid to Alibaba Group

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12,755

​

4,860

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—

Others

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4,586

​

1,418

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—
Schedule of related party balances

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As of December 31, 

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  ​ ​ ​

2024

  ​ ​ ​

2025

​

​

RMB

​

RMB

Amounts due from Signify

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1,383

​

57

Amounts due from Creaway Group

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4,610

​

5,809

Amounts due from Aoxue

​

1,023

​

365

Amounts due from Benwei

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2

​

2

Others

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3

​

2

Total amount due from related parties

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7,021

​

6,235

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​

​

​

​

Amounts due to Creaway Group

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3,124

​

1,087

Others

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2,245

​

445

Total amount due to related parties

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5,369

​

1,532

(1)Alibaba Group Holding Limited (“Alibaba Group”) was previously the ordinary shareholders of the Company, who held approximately 14.4% of the total number of issued shares of the Company. On May 30, 2024, Alibaba Group sold these shares to Champion Kerry via a share sales and purchase agreement and then ceased to be a related party of the Group, while Champion Kerry became a related party of the Group since then.

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Shanghai Kewei E-commerce Co., Ltd. (Kewei) became our related party as an e-commerce joint venture in June 2020. The Company disposed its investment in Kewei in April 2025, and Kewei was no longer a related party of the Company as of December 31, 2025.

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Baobida IOT Technology (Suzhou) Co., Ltd. (BBD) became our related party as an associate in July 2022. The Company disposed its investment in BBD in June 2025, and BBD was no longer a related party of the Company as of December 31, 2025.