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v3.26.1

Inventory (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2025 CNY (¥) | Dec. 31, 2025 USD ($) | Dec. 31, 2024 CNY (¥) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2025 USD ($)
Inventory |  |  |  |  |
Raw materials | ¥ 3,487,344 |  | ¥ 2,273,991 |  |
Work in process | 241,910 |  | 141,195 |  |
Finished Goods | 4,554,713 |  | 4,291,167 |  |
Merchandise | 910,903 |  | 626,772 |  |
Less: inventory provision | (664,016) |  | (245,902) |  |
Total | 8,530,854 |  | 7,087,223 |  | $ 1,219,896
Write-downs of inventory | ¥ 509,322 | $ 72,832 | ¥ 123,345 | ¥ 65,362 |

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