Fangdd Network Group Ltd(NASDAQ:DUO) 
Fangdd Network Group Ltd. operates as an online real estate marketplace in the People's Republic of China. The company operates Duoduo Sales for real estate agents to access primary and other property listings, large real estate buyer base, and marketplace products and services, such as shared listi...
Website: https://www.fangdd.com/
Founded: 2011
IPO Price: $13 (Nov 01, 2019)
Full Time Employees: 1,676
CEO: Yi Duan
Sector: Real Estate
Industry: Real Estate Services
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-06-30 | 2024-12-31 | 2023-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|
revenue | 203,394,000 | |||||
yoy | ||||||
qoq | ||||||
cost of revenue | -184,942,000 | |||||
gross profit | 18,452,000 | |||||
yoy | ||||||
qoq | ||||||
gross margin % | 9.07% | |||||
operating expenses | ||||||
sales and marketing expenses | -3,856,000 | |||||
product development expenses | -12,732,000 | |||||
general and administrative expenses | -73,625,000 | |||||
total operating expenses | -90,213,000 | |||||
income from operations | -71,761,000 | |||||
yoy | ||||||
qoq | ||||||
operating margin % | -35.28% | |||||
income/(loss) from operations | ||||||
interest income | 76,000 | |||||
foreign currency exchange gain | 524,000 | |||||
gain on short-term investments | 2,917,000 | |||||
share of income from equity method investees, net of income tax | -615,000 | |||||
impairment loss for long-term equity investment | ||||||
government grants | 8,000 | |||||
other income | 26,183,000 | |||||
gain on disposal of subsidiaries | 3,315,000 | |||||
gain on acquisition of subsidiaries | ||||||
income/(loss) before income tax | -39,353,000 | |||||
income tax benefit | 171,000 | |||||
net income/ | -39,182,000 | |||||
net income attributable to non-controlling interests | -1,063,000 | |||||
net income/(loss) attributable to fangdd network group ltd. | -38,119,000 | |||||
net income/(loss) attributable to ordinary shareholders | -38,119,000 | |||||
other comprehensive income/ | ||||||
foreign currency translation adjustment | -598,000 | |||||
total comprehensive income/(loss), net of tax | -39,780,000 | |||||
total comprehensive loss attributable to non-controlling interests | -1,063,000 | |||||
total comprehensive income/(loss) attributable to ordinary shareholders | -38,717,000 | |||||
net income/(loss) per share attributable to ordinary shareholders* | ||||||
- basic | -12.66 | |||||
- diluted | -9.67 | |||||
weighted-average number of ordinary shares outstanding used in computing net income/(loss) per share* |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-06-30 | 2023-12-31 | 2019-12-31 |
|---|---|---|---|
assets | |||
current assets | |||
cash and cash equivalents | 34,647,000 | 1,103,747,000 | |
restricted cash | 9,718,000 | 230,125,000 | |
short-term investments | 143,729,000 | 11,500,000 | |
accounts receivable | 166,385,000 | 97,777,000 | 2,189,980,000 |
amounts due from related parties | 8,346,000 | ||
prepayments and other assets | 91,956,000 | -80,528,000 | |
inventories | 5,064,000 | ||
total current assets | 459,845,000 | 3,730,020,000 | |
non-current assets | |||
property, plant and equipment | 40,772,000 | ||
intangible assets | 941,000 | ||
right-of-use assets | 649,000 | ||
equity method investments | 163,174,000 | 579,263,000 | |
long-term equity investment | 13,000,000 | 40,000,000 | |
goodwill | 621,000 | ||
total non-current assets | 219,157,000 | 642,105,000 | |
total assets | 679,002,000 | 4,372,125,000 | |
liabilities | |||
current liabilities | |||
accounts payable | 102,125,000 | -85,158,000 | |
amounts due to related parties | 29,975,000 | -10,697,000 | |
customers’ refundable fees | 21,110,000 | 807,000 | 44,916,000 |
accrued expenses and other payables | 113,381,000 | -59,159,000 | 338,626,000 |
convertible debt | 9,737,000 | ||
income tax payables | 200,000 | -1,926,000 | 7,000 |
lease liabilities | 606,000 | -989,000 | |
total current liabilities | 277,134,000 | 2,771,160,000 | |
non-current liabilities | |||
total non-current liabilities | 20,658,000 | 11,910,000 | |
total liabilities | 297,792,000 | 2,783,070,000 | |
commitments and contingencies | |||
shareholders’ equity: | |||
class a ordinary shares* | 253,000 | ||
class b ordinary shares* | |||
class c ordinary shares* | |||
additional paid-in capital | 5,420,483,000 | ||
accumulated other comprehensive loss | -383,833,000 | ||
accumulated deficit | -4,656,714,000 | ||
total fangdd network group ltd. shareholders’ equity | 380,189,000 | ||
non-controlling interests | 1,021,000 | ||
total shareholders’ equity | 381,210,000 | ||
total liabilities and shareholders’ equity | 679,002,000 | ||
cash flows from operating activities | |||
net (loss)/income | -93,104,000 | ||
adjustments to reconcile net income to net cash from operating activities | |||
depreciation and amortization | 697,000 | ||
amortization of right-of-use assets | 1,118,000 | ||
share-based compensation expenses | 105,000 | ||
(gain)/loss on short-term investments | 518,000 | ||
impairment loss for non-current assets | |||
impairment loss for short-term investments | |||
impairment loss for goodwill | 454,000 | ||
impairment loss for long-term equity investment | 3,000,000 | ||
impairment loss for equity method investments | 15,279,000 | ||
share of loss/(profit) from equity method investments, net of income tax | -442,000 | ||
(reversal)/provision of credit losses of accounts receivable, prepayments and other assets | 201,885,000 | ||
accounts payable write-off benefit | -167,928,000 | ||
loss on written off of property, plant and equipment | 275,000 | ||
foreign currency exchange (gain)/loss | -333,000 | ||
gain on acquisition of subsidiaries | |||
gain on disposal of subsidiaries | -3,330,000 | ||
changes in operating assets and liabilities | |||
other non-current assets | -4,439,000 | 7,255,000 | |
net cash from operating activities | -186,118,000 | ||
cash flows from investing activities | |||
purchase of property, plant and equipment | -296,000 | ||
prepayment for acquisition of property | |||
proceeds from disposal of property, plant and equipment | |||
investment in equity method investments | |||
return of capital from equity method investees | 45,553,000 | ||
cash (paid for)/received from acquisition of subsidiaries, net of cash acquired | |||
cash received from disposal of subsidiaries | |||
cash paid for short-term investments | -63,812,000 | ||
proceeds from disposal of short-term investments | 49,982,000 | ||
net cash (used in)/provided by investing activities | 31,427,000 | ||
cash flows from financing activities | |||
contribution from non-controlling shareholders | 635,000 | ||
proceeds from issuance of ordinary shares, net of issuance costs | 46,632,000 | ||
proceeds from issuance of convertible promissory note, net of issuance costs | 145,064,000 | ||
proceeds from regular warrants exercised | |||
proceeds from issuance and exercise of pre-funded warrants | |||
cash received from short-term bank borrowings | |||
repayment for short-term bank borrowings | -72,500,000 | ||
net cash (used in)/provided by financing activities | 119,831,000 | ||
prepayments and other current assets | 194,668,000 | ||
property, equipment and software | 8,298,000 | ||
deferred tax assets | 7,289,000 | ||
short-term bank borrowings | 490,000,000 |
Cashflow Statements:
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