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SHARE BASED COMPENSATION EXPENSES (Tables) | 12 Months Ended
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Dec. 31, 2025
SHARE BASED COMPENSATION EXPENSES |
Summary of stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | ​ | ​ ​ ​ | Weighted- | ​ ​ ​ | Weighted- | ​ ​ ​ | ​
​ | ​ | ​ | ​ | average | ​ | average | ​ | Aggregate
​ | ​ | Number of | ​ | exercise | ​ | remaining contractual | ​ | intrinsic
​ | ​ | shares | ​ | price | ​ | term | ​ | Value
​ | ​ | ​ | ​ | US$ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | per share | ​ | Years | ​ | RMB
Outstanding, January 1, 2025 | ​ | 16,447,636 |  | 1.2316 |  | ​ |  | ​
Granted |  | 3,260,697 |  | 3.6414 |  | ​ |  | ​
Exercised |  | (12,011,093) |  | 0.3329 |  | ​ |  | ​
Forfeited |  | (506,183) |  | 3.6980 |  | ​ |  | ​
Outstanding, December 31, 2025 |  | 7,191,057 |  | 3.6518 |  | 8.85 |  | 406,622
Vested and expected to be vested as of December 31, 2025 |  | 7,191,057 |  | 3.6518 |  | 8.85 |  | 406,622
Exercisable as of December 31, 2025 |  | 1,161,113 |  | 2.6700 |  | 8.63 |  | 73,125
Summary of share options activity | ​
​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Number of | ​ ​ ​ | Weighted-average
​ | ​ | restricted shares | ​ | grant day fair value
​ | ​ ​ ​ | ​ | ​ ​ ​ | US$ per share
Unvested, January 1, 2025 |  | — |  | —
Granted |  | 483,274 |  | 20.73
Vested |  | (6,772) |  | 26.54
Forfeited |  | (90,940) |  | 26.80
Unvested, December 31, 2025 |  | 385,562 |  | 19.19
Summary of fair value of employee share options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, |
​ | ​ ​ ​ | 2023 | ​ ​ ​ | 2024 | ​ ​ ​ | 2025 |
​ | ​ | RMB | ​ | RMB | ​ | RMB |
Risk-free interest rate (per annum) | ​ ​ ​ | 2.80 | % | 2.21% – 4.57 | % | 4.32% – 4.57 | %
Expected volatility |  | 36.82 | % | 38.00% – 39.91 | % | 38.00% – 39.90 | %
Expected dividend yield |  | 0.00 | % | 0.00 | % | 0.00 | %
Expected post-vesting forfeiture rate |  | 0.97 | % | 0.00 | % | 0.00 | %
Fair value of the underlying shares on the date of option grants |  | 9.78 |  | 57.05 – 102.21 |  | 102.21 – 203.08 | ​

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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