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INCOME PER SHARE (Tables)
12 Months Ended
Dec. 31, 2025
INCOME PER SHARE  
Schedule of basic and diluted income per share

For the Years Ended December 31, 

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

RMB

RMB

RMB

Numerator:

 

  ​

 

  ​

 

  ​

Net income

 

802,566

 

2,514,591

 

1,186,345

Less: Net income attributable to non-controlling interests

 

(1,663)

 

(17,368)

 

(15,196)

Add: Net loss attributable to redeemable non-controlling interests

 

 

18,891

 

Less: accretion to redemption value of convertible redeemable preferred shares

 

(43,330)

 

(62,000)

 

(20,082)

Less: accretion to redemption value of redeemable non-controlling interests

 

 

(18,891)

 

Less: cumulative undeclared dividends on convertible redeemable preferred shares

 

(32,081)

 

(51,032)

 

(15,702)

Less: Net income attributable to preferred shareholders based on their participating rights

 

(198,548)

 

(949,041)

 

(116,785)

Net earnings available for distribution – basic

 

526,944

 

1,435,150

 

1,018,580

Reversal of accretion on redemption value of Series A and Series B convertible redeemable preferred shares

 

34,484

 

 

Reversal and reallocation of net income attributable to preferred shareholders

 

199,331

 

 

Net earnings available for distribution – diluted

 

760,759

 

1,435,150

 

1,018,580

Denominator:

 

  ​

 

  ​

 

Denominator for basic income per share calculation

 

104,465,049

 

100,628,189

 

162,470,727

Effects of dilutive securities − convertible redeemable preferred shares

 

48,266,743

 

 

Effects of dilutive securities − outstanding share options and RSUs

2,243,939

Denominator for diluted income per share calculation

 

152,731,792

 

100,628,189

 

164,714,666

Basic income per share

 

5.04

 

14.26

 

6.27

Dilutive income per share

 

4.98

 

14.26

 

6.18