Long-term Investments (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Investments [Abstract]

Schedule of Equity Investments without Readily Determinable Fair Value

As of December 31, 2023 and 2024, the carrying amounts of the Group’s equity investments without readily determinable fair value were as follows:

	As of December 31,
	2023			2024			2024
	RMB			RMB			US$
Initial cost basis		2,474,037			2,140,511			293,249
Cumulative unrealized gains		82,746			72,296			9,905
Cumulative unrealized losses (including impairment)		(970,194	)		(1,108,262	)		(151,831	)
Total carrying amount		1,586,589			1,104,545			151,323

Total realized and unrealized gains and losses for equity securities without readily determinable fair values for the years ended December 31, 2022, 2023 and 2024 are as follows:

	For the year ended December 31,
	2022		2023			2024		2024
	RMB		RMB			RMB		US$
Gross unrealized gains (upward adjustments)		31,295		4,184			—		—
Gross unrealized losses (downward adjustments excluding impairment)		—		(8,211	)		—		—
Net unrealized gains/(losses) on equity securities held		31,295		(4,027	)		—		—
Net realized gains on equity securities sold		—		—			21,230		2,908
Total net gains/(losses) recognized		31,295		(4,027	)		21,230		2,908

Schedule of Available-for-Sale Debt Investments Measured at Fair Value and Consist of Convertible Debt Instruments

Available-for-sale debt investments are measured at fair value and consist of convertible debt instruments issued by private companies and investments in equity securities that are redeemable at the Company’s option with no contractual maturity date.

	As of December 31,
	2023			2024			2024
	RMB			RMB			US$
Cost or Amortized cost		315,087			819,790			112,311
Gross unrealized gains		169,008			35,062			4,803
Gross unrealized losses		(18,089	)		(65,870	)		(9,024	)
Fair value		466,006			788,982			108,090