December 31, 2024
December 31, 2025
December 31, 2025
RMB
RMB
US$
Assets
Current assets:
Cash and cash equivalents (including amounts of the consolidated VIEs of RMB7,596,708 and RMB8,445,208 (US$1,207,649) as of December 31, 2024 and 2025, respectively)
7,651,695
9,580,367
1,369,974
Accounts receivable, net (including amounts of the consolidated VIEs of RMB8,374,608 and RMB18,440,482 (US$2,636,954) as of December 31, 2024 and 2025, respectively)
8,374,608
18,440,482
2,636,954
Accounts receivable – a related party (including amounts of the consolidated VIEs of RMB424,259 and RMB831,436 (US$118,894) as of December 31, 2024 and 2025, respectively)
424,259
831,436
118,894
Amount due from related parties (including amounts of the consolidated VIEs of RMB6,070,945 and RMB3,637,039 (US$520,090) as of December 31, 2024 and 2025, respectively)
5,632,987
3,637,039
520,090
Inventories (including amounts of the consolidated VIEs of RMB9,165,973 and RMB8,280,145 (US$1,184,045) as of December 31, 2024 and 2025, respectively)
9,165,973
8,280,145
1,184,045
Other receivables, net (including amounts of the consolidated VIEs of RMB5,318,724 and RMB5,824,886 (US$832,948) as of December 31, 2024 and 2025, respectively)
5,318,724
63,517,961
9,082,948
Advances to suppliers (including amounts of the consolidated VIEs of RMB929,167 and RMB679,196 (US$97,124) as of December 31, 2024 and 2025, respectively)
929,167
679,196
97,124
Total current assets
37,497,413
104,966,626
15,010,029
Property and equipment, net (including amounts of the consolidated VIEs of RMB461,362 and RMB1,246,568 (US$178,257) as of December 31, 2024 and 2025, respectively)
461,362
1,246,568
178,257
Other non-current assets (including amounts of the consolidated VIEs of RMB831,132 and RMB1,344,232 (US$192,223) as of December 31, 2024 and 2025, respectively)
831,132
1,344,232
192,223
Deferred offering costs (including amounts of the consolidated VIEs of RMB7,437,679 and nil as of December 31, 2024 and 2025, respectively)
7,437,679
—
—
Total non-current assets
8,730,173
2,590,800
370,480
Total assets
46,227,586
107,557,426
15,380,509
Liabilities
Current liabilities:
Accounts payable (including amounts of the consolidated VIEs of RMB25,320,486 and RMB44,813,902 (US$6,408,303) as of December 31, 2024 and 2025, respectively)
25,320,486
44,813,902
6,408,303
Accounts payable – a related party (including amounts of the consolidated VIEs of RMB25,891 and RMB7,296 (US$1,043) as of December 31, 2024 and 2025, respectively)
25,891
7,296
1,043
Short-term bank loans (including amounts of the consolidated VIEs of RMB34,958,333 and RMB53,000,000 (US$7,578,899) as of December 31, 2024 and 2025, respectively)
34,958,333
53,000,000
7,578,899
Long-term bank loans, current (including amounts of the consolidated VIEs of RMB300,000 and RMB3,700,000 (US$529,093) as of December 31, 2024 and 2025, respectively)
300,000
3,700,000
529,093
Long-term loans, current (including amounts of the consolidated VIEs of RMB10,000,000 and RMB10,000,000 (US$1,429,981) as of December 31, 2024 and 2025, respectively)
10,000,000
10,000,000
1,429,981
Long-term loans from third parties, current (including amounts of the consolidated VIEs of RMB2,320,082 and RMB200,000 (US$28,600) as of December 31, 2024 and 2025, respectively)
2,320,082
200,000
28,600
Salary and welfare payable (including amounts of the consolidated VIEs of RMB15,375,537 and RMB14,477,975 (US$2,070,323) as of December 31, 2024 and 2025, respectively)
15,375,537
14,477,975
2,070,323
Advance from customers (including amounts of the consolidated VIEs of RMB1,756,046 and RMB1,591,131 (US$227,529) as of December 31, 2024 and 2025, respectively)
1,756,046
1,591,131
227,529
Value added tax (“VAT”) and other tax payable (including amounts of the consolidated VIEs of RMB815,462 and RMB658,492 (US$94,163) as of December 31, 2024 and 2025, respectively)
815,462
658,983
94,233
Other payables (including amounts of the consolidated VIEs of RMB12,888,550 and RMB11,817,179 (US$1,689,838) as of December 31, 2024 and 2025, respectively)
12,888,750
11,817,379
1,689,865
Accrued liabilities (including amounts of the consolidated VIEs of RMB9,712,966 and RMB14,231,003 (US$2,035,006) as of December 31, 2024 and 2025, respectively)
9,712,966
14,580,658
2,085,008
Short-term loans from third parties (including amounts of the consolidated VIEs of RMB11,551,614 and RMB610,637 (US$87,320) as of December 31, 2024 and 2025, respectively)
11,551,614
610,637
87,320
Loans from related parties, current (including amounts of the consolidated VIEs of RMB13,821,875 and RMB15,198,309 (US$2,173,329) as of December 31, 2024 and 2025, respectively)
13,821,875
15,198,309
2,173,329
Amount due to related parties (including amounts of the consolidated VIEs of RMB36,829,010 and RMB92,331,116 (US$13,203,174) as of December 31, 2024 and 2025, respectively)
36,829,010
45,966,864
6,573,174
Operating lease liabilities, current (including amounts of the consolidated VIEs of RMB1,388,863 and RMB1,545,002 (US$220,932) as of December 31, 2024 and 2025, respectively)
1,388,863
1,545,002
220,932
Other current liabilities (including amounts of the consolidated VIEs of RMB2,080,556 and nil as of December 31, 2024 and 2025, respectively)
2,080,556
—
—
Total current liabilities
179,145,471
218,168,136
31,197,632
Long-term bank loans, noncurrent (including amounts of the consolidated VIEs of RMB8,400,000 and RMB11,000,000 (US$1,572,979) as of December 31, 2024 and 2025, respectively)
8,400,000
11,000,000
1,572,979
Long-term loans from third parties, noncurrent (including amounts of the consolidated VIEs of nil and RMB2,000,582 (US$286,079) as of December 31, 2024 and 2025, respectively)
—
2,000,582
286,079
Loans from related parties, noncurrent (including amounts of the consolidated VIEs of RMB356,690,859 and RMB356,390,859 (US$50,963,215) as of December 31, 2024 and 2025, respectively)
356,690,859
356,390,859
50,963,215
Operating lease liabilities, noncurrent (including amounts of the consolidated VIEs of RMB1,672,218 and RMB1,294,510 (US$185,112) as of December 31, 2024 and 2025, respectively)
1,672,218
1,294,510
185,112
Total non-current liabilities
366,763,077
370,685,951
53,007,385
Total liabilities
545,908,548
588,854,087
84,205,017
Commitments and contingencies
—
—
—
Mezzanine equity
Convertible redeemable preferred shares (US$0.0001 par value; 12,597,228 shares authorized, 12,597,228 shares and nil issued and outstanding as of December 31, 2024 and 2025, respectively)
1,595,051,558
—
—
Redeemable non-controlling interests
168,671,234
—
—
Total mezzanine equity
1,763,722,792
—
—
Deficit
Class A Ordinary shares (US$0.0001 par value; 450,000,000 shares authorized, 4,268,156 and 21,140,922 shares issued and outstanding as of December 31, 2024 and 2025, respectively)
2,988
14,997
2,145
Class B Ordinary shares (US$0.0001 par value; 2,042,042 shares authorized and outstanding as of December 31, 2024 and 2025, respectively)
1,408
1,408
201
Subscription receivable
(1,608
)
(2,186
)
(313
)
Additional paid-in capital
—
2,023,765,569
289,394,627
Accumulated deficit
(2,263,419,477
)
(2,475,998,594
)
(354,063,090
)
Accumulated other comprehensive (loss)
(5,231
)
(1,752,460
)
(250,598
)
Total Pomdoctor Limited’s shareholders’ deficit
(2,263,421,920
)
(453,971,266
)
(64,917,028
)
Noncontrolling interests
18,166
(27,325,395
)
(3,907,480
)
Total deficit
(2,263,403,754
)
(481,296,661
)
(68,824,508
)
Total liabilities, mezzanine equity and deficit
46,227,586
107,557,426
15,380,509
