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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
ASSETS
Current assets
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowance of RMB 5,569 and RMB 555 (US$79) as of December 31, 2024 and 2025, respectively
Inventories, net
Amounts due from related parties
Related Party
Total amounts due from related parties
Prepayments and other current assets
Total current assets
Noncurrent assets
Property and equipment, net
Intangible assets, net
Operating lease right-of-use assets
Related Party
Total operating lease right-of-use assets
Long-term investment
Other noncurrent assets
Total noncurrent assets
Total assets
LIABILITIES
Current liabilities
Accounts payable (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 26,632 and RMB 24,706 (US$3,533) as of December 31, 2024 and 2025, respectively)
Deferred revenue and customer advances (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 280,705 and RMB 218,375 (US$31,227) as of December 31, 2024 and 2025, respectively)
Amounts due to related parties (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 1,562 and RMB 935 (US$134) as of December 31, 2024 and 2025, respectively)
Related Party
Total amounts due to related parties (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 1,562 and RMB 935 (US$134) as of December 31, 2024 and 2025, respectively)
Accrued expenses and other current liabilities (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 100,213 and RMB 91,935 (US$ 13,147) as of December 31, 2024 and 2025, respectively)
Dividend payable
Current operating lease liabilities (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 3,661 and RMB 2,166 (US$310) as of December 31, 2024 and 2025, respectively)
Related Party
Total current operating lease liabilities (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 3,661 and RMB 2,166 (US$310) as of December 31, 2024 and 2025, respectively)
Total current liabilities
Non-current liabilities
Non-current operating lease liabilities (including amounts of the consolidated VIE and VIE's subsidiaries without recourse to the primary beneficiary of RMB 11,252 and RMB 9,208 (US$1,317) as of December 31, 2024 and 2025, respectively)
Total non-current liabilities
Total liabilities
SHAREHOLDERS' EQUITY
Ordinary shares
Additional paidin capital
Treasury stock
Statutory reserves
Accumulated other comprehensive income
Retained earnings (accumulated deficit)
Total shareholders' equity
Total liabilities and shareholders' equity

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