v3.26.1
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Measurement  
Schedule of financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy

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Fair Value Measurement

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Quoted Price in

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Significant

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Active Market

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Other

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Unobservable

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for Identical

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Observable

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Inputs

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Assets (Level 1)

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Inputs (Level 2)

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(Level 3)

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RMB

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RMB

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RMB

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Recurring

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As of December 31, 2024:

 

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Cash equivalents:

 

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Money market funds

 

31,335,350

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—

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—

Short-term investments:

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Equity securities

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44,479,404

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—

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—

Available-for-sale debt securities

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—

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6,319,014

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—

Investments in convertible bonds

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—

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—

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506,126

Other non-current assets:

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Available-for-sale debt securities

 

—

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23,855,196

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—

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75,814,754

 

30,174,210

 

506,126

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Fair Value Measurement

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Quoted Price in 

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Significant

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Active Market 

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Other

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Unobservable

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for Identical 

 

Observable

 

Inputs

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Assets (Level 1)

 

Inputs (Level 2)

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(Level 3)

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RMB

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RMB

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RMB

Recurring

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As of December 31, 2025:

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Cash equivalents:

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Money market funds

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72,681,599

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—

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—

Short-term investments:

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Equity securities

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66,033,596

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—

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—

Available-for-sale debt securities

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—

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19,599,692

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—

Investments in convertible bonds

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—

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—

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494,889

Other non-current assets:

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Available-for-sale debt securities

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—

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32,150,125

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—

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138,715,195

 

51,749,817

 

494,889

Schedule of financial instruments not measured at fair value

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Fair Value disclosure

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Quoted Price in

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Significant

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Active Market

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Other

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Unobservable

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for Identical

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Observable

​

Inputs

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Assets (Level 1)

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Inputs (Level 2)

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(Level 3)

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  ​ ​ ​

RMB

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RMB

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RMB

As of December 31, 2024:

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Short-term investments:

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Time deposits and held-to-maturity debt securities

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210,368,027

 

—

Loan investments

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—

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12,119,285

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—

Convertible bonds, current portion

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5,099,337

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—

Other non-current assets:

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Time deposits and held-to-maturity debt securities

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57,309,555

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—

As of December 31, 2025:

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Short-term investments:

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Time deposits and held-to-maturity debt securities

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—

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220,422,862

 

—

Loan investments

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6,856,643

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—

Other non-current assets:

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Time deposits and held-to-maturity debt securities

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—

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70,296,260

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