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Parent only financial information

12 Months Ended

Dec. 31, 2022

Parent only financial information

Parent only financial information

25.   Parent only financial information

The following condensed parent company financial information of Fangdd Network Group Ltd., has been prepared using the same accounting policies as set out in the accompanying Consolidated Financial Statements. As of December 31, 2022, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable shares or guarantees of Fangdd Network Group Ltd., except for those, which have been separately disclosed in the Consolidated Financial Statements.

(a)    Condensed Balance Sheets

​

​	​	​	​	​
​	​	As of December 31,
​	​	2021	​	2022
​		RMB		RMB
Assets
Current asset
Cash and cash equivalents		162,974		22,710
Total current asset		162,974		22,710
Non-current asset
Investments in and amounts due from subsidiaries, the VIE and VIE’s subsidiaries		1,764,671		1,533,937
Total non-current asset		1,764,671		1,533,937
Total assets		1,927,645		1,556,647
Liabilities		​		​
Current liability
Accrued expenses and other current liabilities		28,207		27,225
Total current liability		28,207		27,225
Total liabilities	​	28,207	​	27,225
Equity
Class A ordinary shares		1		1
Additional paid-in capital		5,031,772		5,051,631
Accumulated other comprehensive loss	​	(404,877)	​	(393,841)
Accumulated deficit	​	(2,727,458)	​	(3,128,369)
Total equity		1,899,438	​	1,529,422
​	​	​	​	​
Total liabilities and equity		1,927,645		1,556,647

​

(b)    Condensed Statements of Results of Operations

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2020	​	2021	​	2022
​		RMB		RMB		RMB
General and administrative expenses		(13,607)		(13,058)		(167,076)
Total operating expenses		(13,607)		(13,058)		(167,076)
Loss from operations		(13,607)		(13,058)		(167,076)
Equity loss of subsidiaries and the VIE and VIE’s subsidiaries		(115,964)		(626,570)		(244,039)
Other income:		​		​		​
Interest income, net		3,366		2,462		957
Other income, net		—		—		9,247
Loss before income tax		(126,205)		(637,166)		(400,911)
Net loss		(126,205)		(637,166)		(400,911)
Net loss attributable to ordinary shareholders		(126,205)		(637,166)		(400,911)

​

(c)    Condensed statements of cash flows

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2020	​	2021	​	2022
​		RMB		RMB		RMB
Net cash used in operating activities		(5,894)		(18,400)	​	(5,064)
Cash flows used in investing activities:	​	​	​	​	​	​
Investments in and amounts due from subsidiaries, the VIE and VIE’s subsidiaries	​	(115,569)	​	(128,192)	​	—
Investment in short-term investments	​	(1,185,713)	​	—	​	(168,198)
Proceeds from redemption of short-term investments	​	1,185,713	​	—	​	18,826
Net cash used in investing activities	​	(115,569)	​	(128,192)	​	(149,372)
Cash flows provided by financing activities:	​	​	​	​	​	​
Proceeds from initial public offering, net of offering cost	​	—	​	—	​	3,136
Net cash provided by financing activities		—		—	​	3,136
Effect of exchange rate changes on cash and cash equivalents		—		—		11,036
Net decrease in cash and cash equivalents		(121,463)		(146,592)		(140,264)
Cash and cash equivalents at the beginning of the year		431,029		309,566		162,974
Cash and cash equivalents at the end of the year		309,566		162,974		22,710

​

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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