v3.26.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2025
INCOME TAXES  
Schedule of income (loss) before income tax, domestic and foreign

Year ended

Year ended

Year ended

December 31,

December 31,

December 31,

2023

2024

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Mainland China

 

5,455,438

 

7,972,972

 

7,336,643

Hong Kong (1)

 

 

 

375,046

Others

 

(177,987)

 

(80,550)

 

(335,554)

Total

 

5,277,451

 

7,892,422

 

7,376,135

(1)Income before income taxes for Hong Kong was included in others and was not material for the year ended December 31, 2023 and 2024.
Schedule of current and deferred portion of income tax expenses

Year ended

Year ended

Year ended

December 31, 

December 31, 

December 31, 

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

RMB

RMB

RMB

Current tax

 

935,897

1,560,830

 

1,704,701

Deferred tax

 

72,977

83,476

 

(304,209)

Total

 

1,008,874

1,644,306

 

1,400,492

Schedule of reconciliation between the income tax at PRC statutory tax rate and income tax expense

Year ended December 31, 2025

 

  ​ ​ ​

RMB

  ​ ​ ​

%

 

Income before income tax expenses

 

7,376,135

 

Statutory tax rate in the PRC

 

25

%  

Income tax at statutory tax rate

 

1,844,033

 

25.0

%

Foreign Tax Effects

 

 

Hong Kong

 

(93,831)

 

(1.3)

%

Tax exemption

 

(94,774)

 

(1.3)

%

Changes in valuation allowance

 

943

 

0.0

%

Other foreign jurisdictions

 

(10,421)

 

(0.1)

%

Non-deductible expenses

 

 

Share-based compensation

 

94,593

 

1.3

%

Others

 

3,300

 

0.0

%

Preferential tax rate

 

(679,618)

 

(9.2)

%

Research and development super-deduction

 

(62,704)

 

(0.9)

%

Effect of cross - border tax laws

 

292,627

 

4.0

%

Changes in valuation allowance of deferred tax assets

 

12,513

 

0.2

%

Income tax expense

 

1,400,492

 

19.0

%

Year ended

Year ended

 

December 31, 

December 31, 

 

  ​ ​ ​

2023

  ​ ​ ​

2024

 

RMB

RMB

 

Income before income tax expenses

 

5,277,451

7,892,422

Statutory tax rate in the PRC

 

25

%

25

%

Income tax at statutory tax rate

 

1,319,363

1,973,106

Effect of different tax rate of subsidiary operation in other jurisdiction

(4,016)

(10,324)

Effect of non-deductible expenses

 

47,467

42,726

Effect of preferential tax rate

(488,462)

(744,996)

Effect of research and development super-deduction

 

(98,914)

(102,658)

Effect of withholding income tax

206,721

470,966

Effect of valuation allowance movement of deferred tax assets

26,715

15,486

Income tax expense

 

1,008,874

1,644,306

Schedule of the effect of preferential tax rates on the income per share

 

Year Ended December 31, 

 

(Amounts in Thousands Except Per Share Data)

 

2023

 

2024

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Tax saving amount due to preferential tax rates

 

488,462

  ​ ​ ​

744,996

  ​ ​ ​

679,618

Income per share effect-basic

 

1.52

2.50

2.55

Income per share effect-diluted

 

1.49

2.46

2.50

Schedule of components of the deferred tax assets and deferred tax liabilities

December 31, 

December 31, 

  ​ ​ ​

2024

  ​ ​ ​

2025

RMB

RMB

Deferred tax assets

Guarantee liabilities

2,017,547

571,232

Provision for loan losses

1,735,395

2,238,472

Depreciation of land use rights

55,539

66,999

Net operating loss carry forwards

 

78,356

 

77,475

Others

12,500

11,694

Gross deferred tax assets

 

3,899,337

 

2,965,872

Valuation allowance on deferred tax assets

(116,174)

(116,462)

Total deferred tax assets

3,783,163

2,849,410

Uncollected revenues

 

(2,841,099)

 

(1,533,009)

Withholding income tax

(173,305)

(254,955)

Others

(1,869)

(1,662)

Total deferred tax liabilities

(3,016,273)

(1,789,626)

Net deferred tax assets

 

766,890

 

1,059,784