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SHORT-TERM INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2025
SHORT-TERM INVESTMENTS. |
Schedule of short-term investments | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ |  | 2024 |  | 2025
​ | ​ ​ ​ | RMB | ​ ​ ​ | RMB
​ |  | (in thousands)
Short‑term investments: | ​ | ​ | ​ | ​
Bank time deposits |  | 14,874,498 |  | 7,057,770
Wealth management products |  | 20,474,093 |  | 21,625,789
Held-to-maturity debt investments | ​ | 5,417,761 | ​ | 5,526,195
Available-for-sale debt investments | ​ | 551,348 | ​ | 5,370,207
Total |  | 41,317,700 |  | 39,579,961
Schedule of held-to-maturity and available-for-sale debt investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2025
​ | ​ | Cost or | ​ | Gross | ​ | Gross | ​ | ​ ​ ​ | ​ | ​ ​ ​
​ | ​ | amortized cost | ​ | unrecognized | ​ | unrecognized | ​ | ​ | ​ | ​
​ | ​ | less allowance | ​ | holding | ​ | ​holding | ​ | ​ | ​ | ​
​ | ​ | for credit losses | ​ | ​gains | ​ | losses | ​ | Fair value
​ | ​ ​ ​ | RMB | ​ ​ ​ | RMB | ​ ​ ​ | RMB | ​ ​ ​ | RMB | ​ ​ ​ | US$
​ | ​ | (in thousands)
Held-to-maturity debt investments | ​ | 5,526,195 | ​ | 3,176 | ​ | (75,405) | ​ | 5,453,966 | ​ | 779,907
Available-for-sale debt investments | ​ | 5,405,275 |  | — |  | (35,068) |  | 5,370,207 |  | 767,929
​

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and debt security measured at amortized cost (held-to-maturity). + References No definition available. + Details
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