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BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2025

BORROWINGS

Schedule of borrowings

​

​	​	​	​	​
​	​	As of December 31,
​	​	2024	​	2025
​	​ ​ ​	RMB	​ ​ ​	RMB
​	​	(in thousands)
Short‑term borrowings	​ ​ ​	288,280	​ ​ ​	207,717
Long‑term borrowings		—		182,917
Total		288,280		390,634

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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