SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

SHARE-BASED COMPENSATION

Schedule of stock option activity


						Weighted
				Weighted		average		Aggregate		Weighted
		Number of		average		remaining		intrinsic		average grant-
		share options		exercise price		contractual life		value		date fair value
				US$		In years		US$ in thousands		US$
Outstanding as of January 1, 2023		68,361,198		2.90		7.23		498,336		2.99
Exercised		(11,810,406)		2.16
Forfeited		(718,812)		4.09
Outstanding as of December 31, 2023		55,831,980		3.04		6.34		294,189		3.15
Granted*		120,000		6.03
Exercised		(10,247,906)		2.57
Forfeited		(1,025,846)		4.83
Outstanding as of December 31, 2024		44,678,228		3.11		5.44		169,354		3.25
Exercised		(16,686,946)		2.96
Forfeited		(438,672)		3.49
Outstanding as of December 31, 2025		27,552,610		3.19		4.49		192,823		3.19
Vested and expected to vest as of December 31, 2025		27,552,610		3.19		4.49		192,823		3.19
Exercisable as of December 31, 2025		27,407,610		3.18		4.47		192,202		3.21

*

The weighted average grant-date fair value of share options granted in 2024 was US$0.10.

Schedule of RSU activity


				Weighted average
		Number of RSUs		grant-date fair value
				US$
Outstanding as of January 1, 2023		20,812,946		11.23
Granted		26,216,836
Vested		(6,109,908)
Forfeited		(1,461,262)
Outstanding as of December 31, 2023		39,458,612		9.58
Granted		6,065,856
Vested		(11,721,356)
Forfeited		(2,265,298)
Outstanding as of December 31, 2024		31,537,814		9.20
Granted		9,405,680
Vested		(11,520,300)
Forfeited		(2,369,564)
Outstanding as of December 31, 2025		27,053,630		9.40

Schedule of share-based compensation expenses


		For the year ended December 31,
		2023		2024		2025
		RMB		RMB		RMB
		(In thousands)
Cost of revenues		46,395		43,332		22,550
Sales and marketing expenses		262,431		280,668		239,800
Research and development expenses		418,769		421,411		317,653
General and administrative expenses		329,372		398,274		331,984
Total		1,056,967		1,143,685		911,987