Share-based compensation (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Share-based compensation |
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| Schedule of assumptions used to determine fair value of stock options granted |
| | | | | | | | | | | | | | | | | | | | January 25, | | June 29, | | May 3, | | October 11, | | April 30, | | May 9, | | October 31, | | April 30, | | | | 2015 | | 2015 | | 2016 | | 2017 | | 2018 | | 2018 | | 2018 | | 2019 | | | | RMB | | RMB | | RMB | | RMB | | RMB | | RMB | | RMB | | RMB | | Fair value of underlying ordinary shares | | 4.91 | | 9.66 | | 16.98 | | 30.29 | | 41.33 | | 38.14 | | 26.74 | | 16.65 | | Exercise Price | | 0.27 | | 0.27 | | 0.27 - 10.71 | | 0.27 - 27.02 | | 25.42 | | 30.27 | | 27.93 | | 31.96 | | Expected Volatility per annum (“p.a.”) | | 43.00 | % | 38.00 | % | 42.00 | % | 38.60 | % | 45.47 | % | 39.3 | % | 43.90 | % | 30.15 | % | Risk-Free Rate (p.a.) | | 1.81 | % | 2.33 | % | 1.81 | % | 2.35 | % | 2.96 | % | 2.94 | % | 3.15 | % | 2.97 | % | Exercise Multiple | | 2.5 | | 2.5 | | 2.5 | | 2.5 | | 2.5 | | 5.58-38.33 | | 2.5 | | NIL | | Dividend Yield (p.a.) | | NIL | | NIL | | NIL | | NIL | | NIL | | NIL | | NIL | | NIL | | Time to Maturity (Years) | | 10 | | 10 | | 10 | | 10 | | 10 | | 5 | | 10 | | 10 | |
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| Employee Stock Option |
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| Share-based compensation |
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| Summary of stock option activity |
| | | | | | | | | | | | | | | | | Intrinsic | | | | | | | | | value of | | | Number of | | Exercise Price | | Remaining | | options | | | Options | | RMB | | Contractual | | RMB | Outstanding, as of January 1, 2025 | | 4,003,514 | | 0.27-31.96 | | 0.06-4.32 | | 5,954,422 | Granted | | — | | — | | — | | — | Exercised | | 1,879,130 | | 0.27-10.71 | | — | | — | Forfeited/Cancelled | | — | | — | | — | | — | Outstanding, as of December 31, 2025 | | 2,124,384 | | 0.27-31.96 | | 0.34-3.38 | | 870,002 | Vested and expected to vest as of December 31, 2025 | | 2,124,384 | | 0.27-31.96 | | 0.34-3.38 | | 870,002 | Exercisable as of December 31, 2025 | | 2,124,384 | | 0.27-31.96 | | 0.34-3.38 | | 870,002 |
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| Schedule of allocated share-based compensation expense |
| | | | | | | | | | | Year ended | | Year ended | | | | | | | December 31, | | December 31, | | Year ended December 31, | | | 2023 | | 2024 | | 2025 | | 2025 | | | RMB | | RMB | | RMB | | US$ | Origination and servicing | | 70,740 | | — | | — | | — | General and administrative | | 344,007 | | — | | — | | — | Borrower acquisitions and marketing | | — | | — | | — | | — |
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| Restricted stock units |
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| Share-based compensation |
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| Summary of stock option activity |
| | | | | | | | | Weighted-Average Grant-Date | | | Number of | | Fair Value | | | Restricted Shares | | RMB | Outstanding, as of January 1, 2025 | | 13,375,270 | | 4.94 | Granted | | 3,847,044 | | 11.20 | Vested | | (7,486,266) | | 5.97 | Forfeited | | (63,256) | | 4.97 | Cancelled | | (1,683,606) | | 6.78 | Outstanding, as of December 31, 2025 | | 7,989,186 | | 6.60 |
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| Schedule of allocated share-based compensation expense |
| | | | | | | | | | | Year ended | | Year ended | | | | | | | December 31, | | December 31, | | Year ended December 31, | | | 2023 | | 2024 | | 2025 | | 2025 | | | RMB | | RMB | | RMB | | US$ | Origination and servicing | | 25,396,830 | | 14,643,365 | | 24,122,338 | | 3,449,447 | General and administrative | | 16,617,520 | | 22,078,845 | | 32,997,428 | | 4,718,570 | Borrower acquisitions and marketing | | 169,113 | | 3,455,597 | | 3,846,880 | | 550,097 |
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