Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of (Loss) or Income Before Income Taxes

The Group’s (loss) /income before income taxes consists of:

	For the year ended December 31,
	2022			2023			2024			2024
	RMB			RMB			RMB			US$
Non-Mainland China		(505,068	)		(366,657	)		(445,424	)		(61,023	)
Mainland China		471,292			2,399,258			1,297,103			177,702
		(33,776	)		2,032,601			851,679			116,679

Components of Income Tax Expense

Income tax expense for the years ended December 31, 2022, 2023 and 2024 consists of:

	For the year ended December 31,
	2022		2023			2024			2024
	RMB		RMB			RMB			US$
Current income tax expense		53,944		81,055			85,450			11,706
Deferred income tax expense/(benefit)		30,056		(1,008	)		(24,360	)		(3,337	)
		84,000		80,047			61,090			8,369

Summary of Reconciliation of Tax Expense Computed by Applying Statutory Income Tax Rate to Pre-Tax Loss or Income

The reconciliation of total tax expense computed by applying the respective statutory income tax rate to pre-tax loss or income is as follows:

	For the year ended December 31,
	2022			2023			2024			2024
	RMB			RMB			RMB			US$
Income tax (benefit)/expense at PRC statutory rate		(8,444	)		508,150			212,920			29,170
Effect of differing tax rates in different jurisdictions		184,999			98,963			139,126			19,060
Non-deductible expenses and non-taxable income, net		(119,094	)		119,442			33,714			4,619
Research and development super-deduction		(115,975	)		(141,454	)		(140,153	)		(19,201	)
Effect of PRC preferential tax rates		23,564			(169,264	)		(111,365	)		(15,257	)
Other adjustments		(41,940	)		14,692			8,962			1,228
Change in valuation allowance		160,890			(350,482	)		(82,114	)		(11,250	)
Income tax expense		84,000			80,047			61,090			8,369

Summary of Tax Effects of Temporary Differences to Deferred Tax Balances

The tax effects of temporary differences that give rise to the deferred tax balances at December 31, 2023 and 2024 are as follows:

	As of December 31,
	2023			2024			2024
	RMB			RMB			US$
Deferred tax assets:
Accrued expenses and others		545,144			620,639			85,027
Bad debt provision		75,942			69,182			9,478
Net operating losses carried forward		1,565,134			1,561,051			213,863
Recorded cost relating to capitalized assets		3,527,191			3,406,425			466,678
Operating lease liabilities		94,062			81,807			11,208
Fixed assets depreciation		13,578			11,836			1,621
Valuation allowance		(5,686,869	)		(5,604,755	)		(767,848	)
Deferred tax assets, net		134,182			146,185			20,027
Deferred tax liabilities:
Long term investment fair value change		40,944			40,842			5,595
Operating lease assets		94,062			81,807			11,208
		135,006			122,649			16,803

	As of December 31,
	2023		2024		2024
	RMB		RMB		US$
Classification in the consolidated balance sheets:
Deferred tax assets, net		—		23,536		3,224
Deferred tax liabilities		824		—		—