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v3.25.1

Long-term investments - Long-term investments (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Long-term investments |  |  |
Beginning balance | ¥ 142,599 | ¥ 137,357 | ¥ 41,442
Investments made | 4,050 | 9,500 | 38,970
Income (loss) from equity method investments | (3,726) | (523) | 51
Partially disposal of an equity investment using the equity method |  | (700) |
Disposal of a subsidiary in exchange of investment accounted for at fair value |  |  | 40,000
Disposal of equity investments using the measurement alternative | (18,950) |  |
Fair value change through earnings (including adjustment of subsequent price changes) | (4,811) | (8,079) | 15,964
Changes from a subsidiary to equity investment using the equity method | 62 | 4,900 |
Impairment loss | (44,514) |  |
Currency translation adjustment | 148 | 144 | 930
Ending balance | 74,858 | 142,599 | 137,357
Equity investment using the measurement alternative |  |  |
Long-term investments |  |  |
Beginning balance | 67,964 | 58,464 | 30,000
Investments made | 100 | 9,500 | 10,000
Disposal of equity investments using the measurement alternative | (18,950) |  |
Fair value change through earnings (including adjustment of subsequent price changes) |  |  | 18,464
Changes from a subsidiary to equity investment using the equity method | 62 |  |
Impairment loss | (44,514) |  |
Ending balance | 4,662 | 67,964 | 58,464
Equity investment using the equity method |  |  |
Long-term investments |  |  |
Beginning balance | 16,244 | 12,423 | 11,442
Investments made | 3,950 |  |
Income (loss) from equity method investments | (3,726) | (523) | 51
Partially disposal of an equity investment using the equity method |  | (700) |
Changes from a subsidiary to equity investment using the equity method |  | 4,900 |
Currency translation adjustment | 148 | 144 | 930
Ending balance | 16,616 | 16,244 | 12,423
Investment accounted for at fair value |  |  |
Long-term investments |  |  |
Beginning balance | 58,391 | 66,470 |
Investments made |  |  | 28,970
Disposal of a subsidiary in exchange of investment accounted for at fair value |  |  | 40,000
Fair value change through earnings (including adjustment of subsequent price changes) | (4,811) | (8,079) | (2,500)
Ending balance | ¥ 53,580 | ¥ 58,391 | ¥ 66,470

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