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PREPAYMENTS AND OTHER CURRENT ASSETS, NET | 12 Months Ended
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Dec. 31, 2025
PREPAYMENTS AND OTHER CURRENT ASSETS, NET |
PREPAYMENTS AND OTHER CURRENT ASSETS, NET | 6.PREPAYMENTS AND OTHER CURRENT ASSETS, NET Prepayments and other current assets consist of the following: ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2024 | ​ | 2025
​ | ​ ​ ​ | RMB | ​ ​ ​ | RMB
Prepayments for purchased goods or services(i) |  | 125,070 |  | 85,683
Payments on behalf of franchised stores |  | 45,228 |  | 42,558
Prepaid rental and other deposits |  | 33,426 |  | 65,856
Deductible input VAT |  | 45,946 |  | 144,208
Receivable from online retail platforms |  | 11,830 |  | 25,248
Interest receivable |  | 14,749 |  | 27,675
Others |  | 39,155 |  | 90,685
​ |  | 315,404 |  | 481,913
(i) | The balance as of December 31, 2024 includes deferred IPO cost of RMB16.9 million. Direct cost incurred by the Group attributable to its IPO of ordinary shares in the United States had been deferred and recorded as deferred IPO cost and offset against the gross proceeds received from such offering.

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