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Short-term Investments

12 Months Ended

Dec. 31, 2022

Short-term Investments

Short-term Investments

7.	Short-term Investments

As of December 31, 2021 and 2022, the Group’s short-term investments mainly consisted of financial products issued by commercial banks in China with a variable interest rate indexed to the performance of underlying assets and a maturity date within one year when purchased. As of December 31, 2022, the effective yields of short-term investments ranged from 1.72% to 5.00% per annum (2021: 2.25% to 4.40% per annum).

The following is a summary of short-term investments (in thousands):


		December 31, 2021
				Unrealized		Estimated
		Cost		Gains/(Losses)		Fair Value
		RMB		RMB		RMB
Short-term investments		12,081,868		199,680		12,281,548


		December 31, 2022
				Unrealized		Estimated
		Cost		Gains/(Losses)		Fair Value
		RMB		RMB		RMB
Short-term investments		7,563,805		58,868		7,622,673

During the years ended December 31, 2020, 2021 and 2022, the Group recorded investment income related to short-term investments of RMB580.7 million, RMB639.8 million and RMB342.6 million in the consolidated statements of operations and comprehensive income, respectively.