Most common in 晶莹 (sparkling, crystal-clear) and 莹润 (glossy and smooth). It is also a frequent given-name character for girls, suggesting purity and brightness.
Bottom 玉 is the jade radical and the indexing component. It carries the core sense: the bright, clear luster of a fine gem, which extends to anything sparkling and transparent like dew or tears.
Top grass radical. Here it is a graphic carryover from the traditional form 瑩; in the simplified shape it sits as the cap and marks the standard top component rather than supplying the meaning.
The small cover stroke in the middle is a residue from the reduced traditional structure of 瑩. It sits as a connecting cap over the jade below and is not an independent meaning-bearer.