Share-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Share-Based Compensation |
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| Schedule of assumptions used to estimate the fair value of options |
| | | | | | | | | For the years ended December 31, | | | 2023 | | 2024 | | 2025 | | | | | | | | Risk-free interest rates | | 3.81%-5.13% | | 4.14%-4.85% | | 4.56%-4.93% | Expected volatility | | 50.31%-50.55% | | 50.22%-50.39% | | 50.10%-50.29% | Expected dividend yield | | 0% | | 0% | | 0% | Exercise multiple | | 2.80 | | 2.80 | | 2.80 | Post-vesting forfeit rate | | 0% | | 0% | | 0% | Fair value of underlying ordinary shares | | $17.1475-$36.3175 | | $24.0275-$36.4100 | | $24.1275-$33.7175 | Fair value of share option | | $17.1425-$36.3127 | | $24.0226-$36.4051 | | $24.1228-$33.7127 |
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| Schedule of recognized share-based compensation expenses |
| | | | | | | | | | | For the years ended December 31, | | | 2023 | | 2024 | | 2025 | | 2025 | | | RMB | | RMB | | RMB | | US$ | Costs of revenues | | 132,470 | | 412,721 | | 248,210 | | 35,494 | Sales and marketing expenses | | 2,354,097 | | 2,216,792 | | 2,000,790 | | 286,109 | General and administrative expenses | | 2,289,272 | | 4,742,816 | | 3,430,903 | | 490,613 | Research and development expenses | | 2,302,955 | | 2,511,235 | | 2,257,068 | | 322,756 | | | 7,078,794 | | 9,883,564 | | 7,936,971 | | 1,134,972 |
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| Employee Stock Option |
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| Share-Based Compensation |
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| Schedule of share-based compensation activities |
| | | | | | | | | | | | | | | | | | | | | Weighted | | | | | Weighted | | Weighted | | | | average | | | | | average | | average | | Aggregate | | remaining | | | Number of | | exercise | | grant date | | intrinsic | | contractual | | | share options | | price | | fair value | | value | | term | | | | | US$ | | US$ | | US$ | | Years | Outstanding as of December 31, 2024 | | 390,422,524 | | 0.0065 | | 11.4851 | | 9,464,232 | | 14.93 | Granted | | 3,501,400 | | 0.0065 | | 28.4508 | | — | | — | Forfeited | | (8,743,700) | | 0.0065 | | 15.7685 | | — | | — | Exercised | | (29,991,124) | | 0.0065 | | 6.1302 | | — | | — | Outstanding as of December 31, 2025 | | 355,189,100 | | 0.0065 | | 11.9991 | | 10,066,414 | | 14.06 | Vested and expected to vest as of December 31, 2025 | | 355,189,100 | | 0.0065 | | 11.9991 | | 10,066,414 | | 14.06 | Exercisable as of December 31, 2025 | | 291,003,700 | | 0.0065 | | 9.1819 | | 8,247,336 | | 13.24 |
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| RSUs |
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| Share-Based Compensation |
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| Schedule of share-based compensation activities |
| | | | | | | | | Weighted | | | | | average grant | | | Number of RSUs | | date fair value | | | | | US$ | Outstanding as of December 31, 2024 | | 67,741,348 | | 21.1730 | Granted | | 13,703,508 | | 29.9743 | Vested | | (22,865,316) | | 19.1880 | Forfeited | | (2,980,244) | | 25.9896 | Outstanding as of December 31, 2025 | | 55,599,296 | | 23.9004 |
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