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RELATED PARTY BALANCES AND TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2025

RELATED PARTY BALANCES AND TRANSACTIONS

Schedule of related party transactions

(a)Significant transactions with related parties

​	​	​	​	​	​	​
​	​ ​ ​	For the Years Ended
​	​	December 31,
​	​ ​ ​	2023	​ ​ ​	2024	​ ​ ​	2025
​	​ ​ ​	RMB	​ ​ ​	RMB	​ ​ ​	RMB
Services and sales to related parties	​	​	​	​	​	​
Investees		2,511		18,811		32,707
Total		2,511		18,811		32,707
Loans advanced to the related parties		​		​		​
Junjie Zhang		20,000		—		—
Xianggui Peng		7,000		—		—
Peibang Gong		5,000		—		—
Jiangmen Pengjiang District Yu Sheng Beverage Plant		2,000		—		—
Total		34,000		—		—
Share-based compensation related to ordinary shares exchanged for preferred shares (Note 16)		​		​		​
Partea Ltd		4,237		—		—
TasTea Ltd		1,633		—		—
TEALATTE Ltd		1,120		—		—
Total		6,990		—		—
Repayment of the loans advanced to the related parties	​	​	​	​	​	​
Junjie Zhang		24,000		—		—
Xianggui Peng		7,000		—		—
Peibang Gong		5,000		—		—
Jiangmen Pengjiang District Yu Sheng Beverage Plant		2,000		—		—
Total		38,000		—		—
Bridge loans to shareholders related to Restructuring		​		​		​
XVC Group		138,000		—		—
Qiushi Chenxing		117,000		—		—
Fosun Group		50,000		—		—
Total		305,000		—		—
Repayment of bridge loans to shareholders related to Restructuring		​		​		​
XVC Group		138,000		—		—
Qiushi Chenxing		117,000		—		—
Fosun Group		50,000		—		—
Total		305,000		—		—

​

​

(b)Balances with related parties

​	​	​	​	​
​	​ ​ ​	As of December 31,
​	​ ​ ​	2024	​ ​ ​	2025
​	​ ​ ​	RMB	​ ​ ​	RMB
Amounts due from related parties		​		​
Investees		1,547		2,085
Total		1,547		2,085

​

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- References

No definition available.

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- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

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