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v3.26.1

CONCENTRATION AND RISKS (Details) ¥ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2025 CNY (¥) item customer | Dec. 31, 2024 CNY (¥) item customer | Dec. 31, 2023 item
CONCENTRATION AND RISKS |  |  |
Cash and cash equivalents, restricted cash and time deposits in RMB | ¥ | ¥ 6,492.9 | ¥ 4,708.8 |
Currency concentration risk | Cash, cash equivalents and time deposits | Cash, cash equivalents and time deposits denominated in RMB |  |  |
CONCENTRATION AND RISKS |  |  |
Concentration risk, percentage | 82.30% | 96.70% |
Customer concentration risk | Accounts receivable |  |  |
CONCENTRATION AND RISKS |  |  |
Number of customers | customer | 1 | 1 |
Customer concentration risk | Accounts receivable | Customer A |  |  |
CONCENTRATION AND RISKS |  |  |
Concentration risk, percentage | 14.00% |  |
Supplier concentration risk | Raw materials and packaging |  |  |
CONCENTRATION AND RISKS |  |  |
Number of suppliers | item | 1 | 2 | 1
Supplier concentration risk | Raw materials and packaging | Supplier A |  |  |
CONCENTRATION AND RISKS |  |  |
Concentration risk, percentage |  | 11.00% | 13.00%
Supplier concentration risk | Raw materials and packaging | Supplier B |  |  |
CONCENTRATION AND RISKS |  |  |
Concentration risk, percentage | 13.00% | 14.00% |

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