v3.26.1
FAIR VALUE MEASUREMENT (Tables)
12 Months Ended
Dec. 31, 2025
FAIR VALUE MEASUREMENT  
Schedule of fair value, assets measured on recurring basis

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Fair value measurement at reporting date using

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Quoted prices in active

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Significant other

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Significant

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markets for identical assets

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observable inputs

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unobservable inputs

Description

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Fair value

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(Level 1)

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(Level 2)

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(Level 3)

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RMB

 

RMB

 

RMB

 

RMB

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(In thousands)

As of December 31, 2024

 

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Short-term investments

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—Wealth management products

 

4,640,283

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—

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4,640,283

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—Listed equity securities

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1,863

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1,863

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Long-term investments

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—Unlisted equity securities

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151,714

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151,714

—Wealth management products

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100,778

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100,778

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As of December 31, 2025

 

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Short-term investments

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—Wealth management products

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9,095,836

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9,095,836

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Long-term investments

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—Unlisted equity securities

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138,873

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138,873

—Wealth management products

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50,027

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50,027

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