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Consolidated balance sheets

In millions of CNY, except per-share amounts
Q4 FY2025
As of Dec 31, 2025
Q4 FY2024
As of Dec 31, 2024
Q4 FY2023
As of Dec 31, 2023
Q4 FY2022
As of Dec 31, 2022
Q4 FY2021
As of Dec 31, 2021
Q4 FY2020
As of Dec 31, 2020
Q4 FY2019
As of Dec 31, 2019
Q4 FY2018
As of Dec 31, 2018
Assets
Current assets
Cash and cash equivalents
Restricted cash
Short-term deposits
Short-term investments
Accounts receivable, net
Prepaid assets and amounts due from related parties, net
Prepayments and other current assets, net
Total current assets
Non-current assets
Long-term deposits
Investments
Goodwill
Property and equipment, net
Intangible assets, net
Right-of-use assets, net
Prepayments and other non-current assets
Total non-current assets
Total assets
Liabilities and shareholders' equity
Current liabilities (including amounts of the consolidated variable interest entity and its subsidiaries ("VIEs") without recourse to the Company of RMB 884,541 and RMB 719,725 as of December 31, 2024 and 2025, respectively)
Accounts payable
Advances from customers and deferred revenue
Income taxes payable
Accrued liabilities and other current liabilities
Amounts due to related parties
Lease liabilities due within one year
Total current liabilities
Non-current liabilities (including amounts of the consolidated VIEs without recourse to the Company of RMB42,431 and RMB32,364 as of December 31, 2024 and 2025, respectively)
Lease liabilities
Deferred tax liabilities
Deferred revenue
Total non-current liabilities
Total liabilities
Shareholders' equity
Ordinary shares
Class A ordinary shares
Class B ordinary shares
Treasury shares
Additional paid-in capital
Statutory reserves
Accumulated deficit
Accumulated other comprehensive income
Total shareholders' equity
Total liabilities and shareholders' equity

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