v3.26.1
Share-based Payment (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Employee Share Options
The following table sets forth the changes in the number of outstanding options and the weighted average exercise prices:
 
    
Average exercise
price per share
option
     
Number of

options
  
    
(RMB)
     
(in ‘000)
  
Outstanding as of January 1, 2023
   
 
86.62
 
   
 
15,000
 
Exercised during the period
      8.00        (181 ) 
Forfeited and other change during the year
      98.34        (1,425 ) 
  
 
 
     
 
 
  
As of December 31, 2023
   
 
87.58
 
   
 
13,394
 
  
 
 
     
 
 
  
Exercised during the period
      8.00        (247 ) 
Forfeited and other change during the year
      89.20        (2,437 ) 
  
 
 
     
 
 
  
As of December 31, 2024
   
 
88.90
 
   
 
10,710
 
  
 
 
     
 
 
  
Forfeited and other change during the year
      49.10        (1,884 ) 
  
 
 
     
 
 
  
As of December 31, 2025
   
 
97.38
 
   
 
8,826
 
  
 
 
     
 
 
  
Summary of Options Granted Priced Using Binomial Option Pricing Model
The following table sets forth the changes in the number of PSUs and the weighted average exercise prices:
 
    
Weighted average

grant day fair value
     
Number of units
  
    
(RMB)
     
(in ‘000)
  
Outstanding as of January 1, 2023
   
 
83.73
 
   
 
2,355
 
  
 
 
     
 
 
  
Granted during the year
      8.90        32  
Exercised during the year
      431.02        (172 ) 
Forfeited and other change during the year
      147.31        (119 ) 
  
 
 
     
 
 
  
Outstanding as of December 31, 2023
   
 
50.48
 
   
 
2,096
 
  
 
 
     
 
 
  
Exercised during the year
      61.44        (635 ) 
Forfeited and other change during the year
      39.95        (614 ) 
  
 
 
     
 
 
  
Outstanding as of December 31, 2024
   
 
30.46
 
   
 
847
 
  
 
 
     
 
 
  
Forfeited and other change during the year
      11.51        (14 ) 
  
 
 
     
 
 
  
Outstanding as of December 31, 2025
   
 
30.84
 
   
 
833
 
  
 
 
     
 
 
  
Summary of Options at Different Exercise Price The following table sets forth the outstanding share options as of December 31, 2025 by different exercise price:
 
    
Number of options
  
    
(in ‘000)
  
Exercise price per share option (RMB)
   
8.00
      —   
50.00
      982  
98.06
      5,777  
118.00
      2,067  
  
 
 
  
     8,826