$DUO Balance Sheet | Understand Stock

$DUO

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Balance Sheets

In millions of CNY, except per-share amounts

	Q4 FY2025 As of Dec 31, 2025	Q4 FY2024 As of Dec 31, 2024	Q4 FY2023 As of Dec 31, 2023	Q4 FY2022 As of Dec 31, 2022	Q4 FY2021 As of Dec 31, 2021	Q4 FY2020 As of Dec 31, 2020	Q4 FY2019 As of Dec 31, 2019
Current assets
Cash and cash equivalents
Restricted cash
Short-term investments
Accounts receivable, net
Loans to equity method investees, net
Amounts due from related parties
Prepayments and other assets, net
Inventories
Total current assets

Non-current assets
Property, plant and equipment, net
Intangible assets, net
Right-of-use assets
Equity method investments, net
Deferred tax assets, net
Goodwill, net
Long-term equity investments, net
Other non-current assets
Total non-current assets

Total assets
Current liabilities
Short-term bank borrowings (including short-term bank borrowings of consolidated VIE without recourse to the Company of RMB134,780 and RMB72,500 as of December 31, 2021 and 2022, respectively. Note 1)
Short-term bank borrowings (including short-term bank borrowings of consolidated VIE without recourse to the Company of RMB72,500 and nil as of December 31, 2022 and 2023, respectively. Note 1)
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)
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)
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)
Accrued expenses and other payables (including accrued expenses and other payables of consolidated VIE without recourse to the Company of RMB145,088 and RMB80,109 as of December 31, 2022 and 2023, respectively. Note 1)
Income tax payables (including income tax payables of consolidated VIE without recourse to the Company of RMB2,468 and RMB1,590 as of December 31, 2022 and 2023, respectively. Note 1)
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)
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)
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)
Total current liabilities

Non-current liabilities
Income tax payables (including income tax payables of consolidated VIE without recourse to the Company of RMB27,429 and RMB28,243 as of December 31, 2022 and 2023, respectively. Note 1)
Deferred tax 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)
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)
Total non-current liabilities

Total liabilities
Mezzanine equity
Series A-2 Redeemable Convertible Preferred Shares
Series B Redeemable Convertible Preferred Shares
Series C Redeemable Convertible Preferred Shares
Total mezzanine equity

Shareholders’ equity:
Ordinary shares, value
Class A Ordinary Shares
Class B Ordinary Shares
Class C Ordinary Shares

Additional paid-in capital
Accumulated other comprehensive loss
Accumulated deficit
Fangdd Network Group Ltd. shareholders’ equity
Class A Ordinary Shares
Total Fangdd Network Group Ltd. shareholders’ equity
Non-controlling interests

Total shareholders’ equity
Total liabilities and shareholders’ equity

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