v3.26.1
Parent Company Only Condensed Financial Information
 12 Months Ended
Dec. 31, 2025
Parent Company Only Condensed Financial Information [Abstract]  
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

28. PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

 

The following condensed parent company financial information of Yimutian Inc. has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements. As of December 31, 2024 and 2025, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of Yimutian Inc., except for those which have been separately disclosed in the consolidated financial statements.

 

The Company’s share of loss from its subsidiaries was reported as a share of loss of subsidiaries in the accompanying parent company only financial statements. Ordinarily, under the equity method, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of the parent only financial information, the Company has continued to reflect its share, based on its proportionate interest, of the losses of its subsidiaries regardless of the carrying value of the investment in the amounts due to related parties even though the Company is not obligated to provide continuing support or fund losses.

 

 

(a) Condensed Balance Sheets

 

    As of
December 31,		  
    2024     2025  
    RMB     RMB     USD  
                   
ASSETS                  
Current assets                  
Cash     129       106,297       15,200  
Amounts due from related parties     3,436       3,357       480  
Due from shareholders     -       256,794       36,721  
Intercompany receivable from WFOE     31,014       30,300       4,333  
Prepayments and other current assets     10,960       6,827       976  
Total current assets     45,539       403,575       57,710  
Total assets     45,539       403,575       57,710  
                         
LIABILITIES AND SHAREHOLDERS’ DEFICIT                        
Current liabilities                        
Convertible notes payable     —       18,449       2,638  
Financial liabilities     20,990       24,949       3,567  
Shareholder loans, at amortized cost     1,078       1,053       151  
Amounts due to related parties     3,594       3,511       502  
Intercompany payable to VIE     5,394       5,394       771  
Accrued expenses and other current liabilities     15,531       24,390       3,488  
Total current liabilities     46,587       77,746       11,117  
Investments in subsidiaries     433,592       488,047       69,788  
Total non-current liabilities     433,592       488,047       69,788  
Total liabilities     480,179       565,793       80,905  
Commitments and Contingencies                        
Mezzanine equity*:                        
Series A Redeemable Convertible Preferred Shares (US$0.00001 par value: 387,781,378 shares authorized as at December 31, 2024 and December 31, 2025, Redemption value of RMB56,098 and nil as of December 31, 2024 and 2025, respectively)     56,098       —       —  
Series B Redeemable Convertible Preferred Shares (US$0.00001 par value: 703,901,412 shares authorized as at December 31, 2024 and December 31, 2025, Redemption value of RMB787,739 and nil as of December 31, 2024 and 2025, respectively)     787,739       —       —  
Series C Redeemable Convertible Preferred Shares (US$0.00001 par value: 517,022,352 shares authorized as at December 31, 2024 and December 31, 2025, Redemption value of RMB181,992 and nil as of December 31, 2024 and 2025, respectively)     181,992       —       —  
Series C-1 Redeemable Convertible Preferred Shares (US$0.00001 par value: 357,323,044 shares authorized as at December 31, 2024 and December 31, 2025, Redemption value of RMB153,660 and nil as of December 31, 2024 and 2025, respectively)     153,660       —       —  
Series C-2 Redeemable Convertible Preferred Shares (US$0.00001 par value: 220,757,061 shares authorized as at December 31, 2024 and December 31, 2025, Redemption value of RMB189,973 and nil as of December 31, 2024 and 2025, respectively)     189,873       —       —  
Series D Redeemable Convertible Preferred Shares (US$0.00001 par value: 95,320,147 shares authorized as at December 31, 2024 and December 31, 2025, Redemption value of RMB136,115 and nil as of December 31, 2024 and 2025, respectively)     136,115       —       —  
Subscription receivable from Series B Redeemable Convertible Preferred Shares     (134,455 )     —       —  
Subscription receivable from Series C Redeemable Convertible Preferred Shares     (29,026 )     —       —  
Subscription receivable from Series C-1 Redeemable Convertible Preferred Shares     (38,955 )     —       —  
Total mezzanine equity     1,303,041       —       —  

 

    As of
December 31,		  
    2024     2025  
    RMB     RMB     USD  
                   
SHAREHOLDERS’ DEFICIT                  
Class A ordinary shares (US$0.00001 par value, 16,000,000,000 shares authorized, 460,147,059 and 2,516,653,606 shares issued and outstanding as of December 31, 2024 and 2025, respectively)*     31       177       26  
Class B ordinary shares (US$0.00001 par value, 800,000,000 shares authorized, nil and 2,516,653,606 shares issued and outstanding as of December 31, 2024 and 2025, respectively)*     —       24       3  
Additional paid – in capital     47,006       1,668,465       238,588  
Accumulated other comprehensive loss     (99,395 )     (97,912 )     (14,001 )
Accumulated deficit     (1,715,536 )     (1,762,180 )     (251,988 )
Total shareholders’ deficit attributable to ordinary shareholders of Yimutian Inc.     (1,767,894 )     (191,426 )     (27,372 )
Non-controlling interests     30,213       29,208       4,177  
Total shareholders’ deficit     (1,737,681 )     (162,218 )     (23,195 )
Total liabilities and shareholders’ deficit     45,539       403,575       57,710  

 

(b) Condensed Statements of Comprehensive Loss

 

    For the year ended December 31,  
    2023     2024     2025  
    RMB     RMB     RMB     USD  
                         
Total operating expenses     (9,753 )     (40 )     (28,519 )     (4,078 )
Share of losses from subsidiaries and VIEs     (90,140 )     (34,860 )     (18,125 )     (2,592 )
Changes in fair value of financial liabilities     (3,728 )     —       —       —  
Loss from derecognition of financial liabilities     (1,989 )     —       —       —  
Loss before income tax     (105,610 )     (34,900 )     (46,644 )     (6,670 )
Income tax expense     —       —       —       —  
Net loss attributable to Yimutian Inc.     (105,610 )     (34,900 )     (46,644 )     (6,670 )
Other comprehensive (loss) income     (21,566 )     (432 )     1,483       212  
Total comprehensive loss     (127,176 )     (35,332 )     (45,161 )     (6,458 )

 

(c)  Condensed Statements of Cash Flows

 

    For the year ended December 31,  
    2023     2024     2025  
    RMB     RMB     RMB     USD  
                         
Net cash used in operating activities     (4,916 )     (31,354 )     (29,924 )     (4,279 )
Net cash (used in) provided by investing activities     (7,083 )     149       —       —  
Net cash provided by financing activities     12,508       30,995       134,555       19,241  
Effect of foreign currency exchange rate changes on cash     (202 )     (157 )     1,537       220  
Net increase (decrease) in cash     307       (367 )     106,168       15,182  
Cash at the beginning of the year     189       496       129       18  
Cash at the end of the year     496       129       106,297       15,200