v3.26.1
Principal Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Estimated useful lives of property and equipment Property and equipment are depreciated over the following estimated useful lives on a straight-line basis:

 

 

Estimated Useful Lives

Computers

 

3 years

Equipment, furniture and motor vehicles

 

5 years

Leasehold improvements

 

Lesser of lease terms or the estimated useful lives of the assets
Schedule of estimated useful live of intangible assets, net

 

 

Estimated Useful Lives

Computer software

 

5 years

Licensed copyrights of reading content

 

Lesser of the licensed period or 5 years

Trademark and Domain names

 

10 years

Audio content

 

Lesser of the licensed period or 5 years
Schedule of revenues disaggregated by products and services The following table presents the Group’s revenues disaggregated by products and services (in thousands):

 

 

For the Years Ended December 31,

 

 

 

2023

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Net advertising revenues

 

 

619,260

 

 

 

630,590

 

 

 

614,330

 

Paid services revenues

 

 

72,760

 

 

 

73,105

 

 

 

151,241

 

Revenues from paid contents

 

 

34,917

 

 

 

46,574

 

 

 

136,754

 

Revenues from E-commerce and others

 

 

37,843

 

 

 

26,531

 

 

 

14,487

 

Total

 

 

692,020

 

 

 

703,695

 

 

 

765,571

 
Summary of Future Lease Payments under Operating Leases Future lease payments under operating leases as of December 31, 2025 were as follows (in thousands):

 

 

Operating Lease Liabilities

 

 

 

RMB

 

Year ending December 31,

 

 

 

2026

 

 

15,309

 

2027

 

 

10,778

 

2028

 

 

9,261

 

2029

 

 

7,917

 

2030

 

 

3,463

 

Total future lease payments

 

 

46,728

 

Less: Imputed interest

 

 

3,406

 

Total lease liability balance

 

 

43,322

 
Summary of Supplemental Cash Flow Information Related to Operating Leases Supplemental cash flow information related to operating leases was as follows (in thousands):

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

 

2024

 

 

2025

 

 

 

RMB

 

 

RMB

 

Cash payments for operating leases

 

 

26,001

 

 

 

14,230

 

Right-of-use assets obtained in exchange for operating lease liabilities

 

 

39,783

 

 

 

2,508