v3.26.1
Revenue - Disaggregation of Revenues (Details)
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Revenue        
Net revenues ¥ 9,945,483 $ 1,422,186 ¥ 9,422,229 ¥ 8,812,013
Operating segments | E-Commerce        
Revenue        
Net revenues 8,271,229   8,070,271 7,621,114
Operating segments | Brand Management        
Revenue        
Net revenues 1,845,418   1,474,351 1,271,027
Inter-segment elimination        
Revenue        
Net revenues (171,164)   (122,393) (80,128)
Product sales        
Revenue        
Net revenues 3,849,559 550,480 3,466,928 3,357,202
Product sales | Inter-segment elimination        
Revenue        
Net revenues (1,876)   (2,205)  
Service        
Revenue        
Net revenues 6,095,924 $ 871,706 5,955,301 5,454,811
Service | Operating segments | E-Commerce        
Revenue        
Net revenues 6,261,439   6,070,699 5,528,901
Service | Inter-segment elimination        
Revenue        
Net revenues (169,288)   (120,188) (80,129)
Online store operations | Operating segments        
Revenue        
Net revenues 1,912,010   1,765,364 1,604,695
Warehousing and fulfillment | Operating segments        
Revenue        
Net revenues 2,051,679   2,189,181 2,194,469
Digital marketing and IT solutions | Operating segments        
Revenue        
Net revenues 2,301,523   2,120,944 1,735,776
Transferred at point in time | Product sales | Operating segments | E-Commerce        
Revenue        
Net revenues 2,009,790   1,999,572 2,092,215
Transferred at point in time | Product sales | Operating segments | Brand Management        
Revenue        
Net revenues 1,841,645   1,469,561 1,264,987
Transferred at point in time | Service | Operating segments | E-Commerce        
Revenue        
Net revenues 109,014   141,515 110,638
Transferred over time | Service | Operating segments | E-Commerce        
Revenue        
Net revenues 6,152,425   5,929,184 5,418,263
Transferred over time | Service | Operating segments | Brand Management        
Revenue        
Net revenues ¥ 3,773   ¥ 4,790 ¥ 6,039