v3.26.1
ACCOUNTS RECEIVABLE, NET
12 Months Ended
Dec. 31, 2025
ACCOUNTS RECEIVABLE, NET  
ACCOUNTS RECEIVABLE, NET

5.

ACCOUNTS RECEIVABLE, NET

Accounts receivable and expected credit losses as of December 31, 2024 and 2025 are as follows:

As of December 31, 

2024

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Accounts receivable

 

819,999

 

1,342,172

Less: allowance for expected credit losses

 

(54,972)

 

(79,952)

Total accounts receivable, net

 

765,027

 

1,262,220

The roll-forward of the allowance for credit losses related to accounts receivable for the years ended December 31, 2024 and 2025 consists of the following activity:

For the Year ended December 31, 

2024

2025

  ​ ​ ​

RMB

  ​ ​ ​

RMB

Balance at beginning of year

 

49,132

 

54,972

Provision for expected credit losses

 

5,840

 

24,980

Balance at end of year

 

54,972

 

79,952