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Short-term deposits and long-term deposits
12 Months Ended
Dec. 31, 2025
Short-term deposits and long-term deposits  
Short-term deposits and long-term deposits

6.Short-term deposits and long-term deposits

Short-term deposits represent time deposits placed with banks with original maturities more than three months but less than one year. Short-term deposits balance as of December 31, 2024 and 2025 primarily consist of the following currencies:

December 31, 2024

December 31, 2025

RMB

RMB

  ​ ​ ​

Amount

  ​ ​ ​

equivalent

  ​ ​ ​

Amount

  ​ ​ ​

equivalent

RMB

1,135,000

1,135,000

1,720,000

1,720,000

US$

 

408,999

2,940,048

200,000

1,405,760

Total

 

4,075,048

3,125,760

Long-term deposits are mainly deposits in commercial banks with maturities of greater than one year and wealth management products issued by commercial banks for which the Group has the positive intent and ability to hold those deposits to maturity with maturities of greater than one year. Long-term deposits balance as of December 31, 2024 and 2025 primarily consist of the following currencies:

December 31, 2024

December 31, 2025

RMB

RMB

  ​ ​ ​

Amount

  ​ ​ ​

equivalent

  ​ ​ ​

Amount

  ​ ​ ​

equivalent

RMB

 

1,470,000

 

1,470,000

 

 

Total

 

  ​

 

1,470,000

 

  ​