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INVENTORIES
12 Months Ended
Dec. 31, 2025
INVENTORIES  
INVENTORIES

5.

INVENTORIES

As of December 31, 

  ​ ​ ​

2024

  ​ ​ ​

2025

Products

 

1,387,403

 

998,465

During the years ended December 31, 2023, 2024 and 2025, inventories were written down by RMB19,910, RMB3,887 and RMB1,807, respectively, to reflect the lower of cost and net realizable value.