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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Dec. 31, 2023
CNY (¥)
Cash flows from operating activities:        
Net income ¥ 2,991,014 $ 427,709 ¥ 4,078,180 ¥ 5,889,604
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation of property, plant and equipment 934,119 133,577 743,728 775,042
Amortization of intangible assets 138,260 19,771 268,684 627,146
Provision of allowance for expected credit losses 134,177 19,187 296,569 418,779
Impairment of goodwill, intangible assets and other long-lived assets 116,332 16,635 151,576 93,417
Impairment loss and provision related to equity investments accounted for using equity method 103,662 14,823   10,369
Impairment loss for equity investments accounted for using measurement alternative 2,731 391 9,408 28,800
Inventory impairment charge 7,326 1,048    
Deferred tax expenses (benefits) (252,956) (36,172) 146,921 (328,579)
Share of results of equity investees (16,420) (2,348) (10,192) (9,098)
Dividend received from equity method investments 9,000 1,287 15,827 14,862
Fair value changes in investments (146,389) (20,934) (312,791) (78,320)
Investment and interest income 210,344 30,079 (252,967) (1,413,018)
Foreign currency exchange loss (gain) 50,640 7,241 (339,280) 93,956
Loss on disposal of property, plant and equipment and intangible assets 137,482 19,660 30 629
Share-based compensation expenses 1,904,924 272,401 2,726,075 3,215,549
Changes in assets and liabilities:        
Accounts receivable and contract assets 1,482,558 212,003 (2,409,998) 834,677
Amounts due from and prepayments to related parties (36,358) (5,199) 42,445 (13,314)
Inventories (1,251,484) (178,960) (1,305,668) (176,650)
Prepayments, receivables and other assets (1,006,223) (143,888) 1,035,912 (706,659)
Right-of-use assets 4,213,226 602,483 (5,598,510) (6,333,845)
Other non-current assets (288,357) (41,235) (12,357) (29,481)
Accounts payable (3,344,006) (478,186) 2,457,443 482,543
Amounts due to related parties (43,451) (6,213) (38,904) 4,665
Employee compensation and welfare payable (1,910,275) (273,166) 268,693 (1,219,733)
Contract liabilities and deferred revenue (361,575) (51,705) 1,386,666 1,404,932
Lease liabilities (4,728,546) (676,173) 4,674,433 6,123,445
Accrued expenses and other current liabilities 900,203 128,726 1,092,547 1,548,334
Income taxes payable (326,128) (46,636) 330,167 156,278
Other liabilities     2,500 (86)
Net cash provided by (used in) operating activities (376,170) (53,794) 9,447,137 11,414,244
Cash flows from investing activities:        
Purchases of time deposits and held-to-maturity debt investments (8,853,194) (1,265,990) (24,012,427) (14,513,592)
Maturities of time deposits and held-to-maturity debt investments 20,892,247 2,987,552 12,126,718 8,918,346
Purchases of available-for-sale debt investments (441,384) (63,117)    
Sales and maturities of available-for-sale debt investments 548,592 78,448   1,392,881
Purchases of other long-term investments (6,485,531) (927,419) (3,927,566) (1,181,611)
Disposal of other long-term investments 18,467 2,641 132,689 338,678
Purchases of other short-term investments (27,123,161) (3,878,560) (33,276,784) (38,874,183)
Maturities of other short-term investments 27,281,924 3,901,263 42,609,517 41,465,679
Cash paid for business combinations, net of cash acquired     105,024 (9,893)
Proceeds from disposal of subsidiaries and long-lived assets 15,003 2,145 12,185 14,838
Purchases of property, plant and equipment, intangible assets and other long-lived assets (607,727) (86,904) (1,037,179) (873,990)
Financing receivables originated (81,570,189) (11,664,382) (58,107,189) (27,785,767)
Collections of financing receivables principal 83,024,884 11,872,401 56,592,404 27,112,807
Loans to related parties and others (2,101,805) (300,554) (941,600) (47,000)
Repayments of loans from related parties and others 1,296,201 185,354 346,183 65,367
Net cash provided by (used in) investing activities 5,894,327 842,878 (9,378,025) (3,977,440)
Cash flows from financing activities:        
Repurchase of ordinary shares (6,581,195) (941,098) (5,101,091) (5,150,628)
Proceeds from issuance of ordinary shares upon exercise of share option 2   2 2
Proceeds from short-term borrowings 1,025,272 146,612 606,033 426,634
Repayments of short-term borrowings (1,108,100) (158,456) (608,424) (755,972)
Proceeds from long-term borrowings 200,433 28,662    
Repayments of long-term borrowings (17,516) (2,505)    
Proceeds from related party loans 982,600 140,510    
Repayments of related party loans (143,915) (20,580)    
Dividends paid to equity holders of the Company (2,881,151) (411,999) (2,830,704) (1,425,707)
Liquidation of subsidiaries (6,901) (987)   (51,020)
Dividends paid to non-controlling shareholders of subsidiaries (2,625) (375)   (4,900)
Rental deposit paid on behalf of others (133,797) (19,133)    
Rental deposit received on behalf of others 547,141 78,240    
Change in customer deposits payable and other amounts collected and payable on behalf of others, net (1,675,947) (239,657) 2,139,549 (256,619)
Others 2,500 357    
Net cash used in financing activities (9,793,199) (1,400,409) (5,794,635) (7,218,210)
Effect of exchange rate change on cash, cash equivalents and restricted cash (82,585) (11,807) 169,476 44,608
Net increase (decrease) in cash, cash equivalents and restricted cash (4,357,627) (623,132) (5,556,047) 263,202
Cash and cash equivalents at the beginning of the year 11,442,965 1,636,322 19,634,716 19,413,202
Restricted cash at the beginning of the year 8,858,449 1,266,741 6,222,745 6,181,057
Total 20,301,414 2,903,063 25,857,461 25,594,259
Cash and cash equivalents at the end of the year 7,773,182 1,111,550 11,442,965 19,634,716
Restricted cash at the end of the year 8,170,605 1,168,381 8,858,449 6,222,745
Total 15,943,787 2,279,931 20,301,414 25,857,461
Cash, cash equivalents and restricted cash change during the year (4,357,627) (623,132) (5,556,047) 263,202
Supplemental disclosures:        
Cash paid for income taxes (2,347,488) (335,686) (2,216,919) (2,250,992)
Cash paid for interest (6,947) (993) (12,466) (17,479)
Non-cash investing activities        
Changes in accounts payable related to property, plant and equipment ¥ 95,314 $ 13,630 ¥ (168,608) ¥ (2,653)