v3.26.1
Consolidated Balance Sheets
¥ in Thousands, $ in Thousands
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
CNY (¥)
Current assets      
Cash and cash equivalents ¥ 29,328 $ 4,194 ¥ 75,351
Restricted cash 3,331 476 14,133
Short-term investments 114,873 16,427 113,632
Accounts receivable, net 147,920 21,152 196,041
Prepayments and other assets, net 82,606 11,812 144,081
Inventories 5,022 718 5,380
Total current assets 390,089 55,781 548,618
Non-current assets      
Property, plant and equipment, net 32,836 4,695 15,392
Intangible assets, net 234,065 33,471 1,005
Right-of-use assets 877 125 1,413
Equity method investments, net 118,397 16,931 162,761
Long-term equity investments, net 12,000 1,716 2,000
Total non-current assets 398,175 56,938 182,571
Total assets 788,264 112,719 731,189
Current liabilities      
Accounts payable (including accounts payable of consolidated VIE without recourse to the Company of RMB98,175 and RMB63,450 as of December 31, 2024 and 2025, respectively) 72,779 10,407 180,737
Customers’ refundable fees (including customers’ refundable fees of consolidated VIE without recourse to the Company of RMB14,433 and RMB17,201 as of December 31, 2024 and 2025, respectively) 18,163 2,597 15,879
Accrued expenses and other payables (including accrued expenses and other payables of consolidated VIE without recourse to the Company of RMB69,174 and RMB62,111 as of December 31, 2024 and 2025, respectively) 99,711 14,258 104,595
Income tax payables (including income tax payables of consolidated VIE without recourse to the Company of RMB11 and RMB87 as of December 31, 2024 and 2025, respectively) 710 102 139
Lease liabilities (including lease liabilities of consolidated VIE without recourse to the Company of RMB671 and RMB230 as of December 31, 2024 and 2025, respectively) 806 115 1,332
Total current liabilities 209,372 29,939 326,582
Non-current liabilities      
Income tax payables (including income tax payables of consolidated VIE without recourse to the Company of RMB20,746 and nil as of December 31, 2024 and 2025, respectively) 21,176
Lease liabilities (including lease liabilities of consolidated VIE without recourse to the Company of RMB130 and nil as of December 31, 2024 and 2025, respectively) 130
Total non-current liabilities 21,306
Total liabilities 209,372 29,939 347,888
Commitments and contingencies
Shareholders’ equity:      
Additional paid-in capital 5,673,411 811,287 5,388,038
Accumulated other comprehensive loss (394,156) (56,364) (383,235)
Accumulated deficit (4,703,305) (672,564) (4,618,595)
Total Fangdd Network Group Ltd. shareholders’ equity 578,403 82,710 386,344
Non-controlling interests 489 70 (3,043)
Total shareholders’ equity 578,892 82,780 383,301
Total liabilities and shareholders’ equity 788,264 112,719 731,189
Class A Ordinary Shares      
Shareholders’ equity:      
Ordinary shares, value [1] 2,452 351 136
Class B Ordinary Shares      
Shareholders’ equity:      
Ordinary shares, value [1]
Class C Ordinary Shares      
Shareholders’ equity:      
Ordinary shares, value [1] 1 [2]
Related Party      
Current assets      
Amounts due from related parties 7,009 1,002
Current liabilities      
Amounts due to related parties (including amounts due to related parties of consolidated VIE without resource to the Company of RMB23,900 and RMB17,158 as of December 31, 2024 and 2025, respectively) ¥ 17,203 $ 2,460 ¥ 23,900
[1] Retrospectively restated to reflect the share consolidation effected on June 9, 2025, whereby every 16 ordinary shares of a par value US$0.0005625 per share were consolidated into 1 ordinary share of a par value US$0.009 per share (the “2025 Share Consolidation”).
[2] Less than 1 after in thousand and rounding.