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MARKETS / NASDAQ / DUO
NASDAQ · REAL ESTATE · SMALL CAP

Fangdd Network Group Ltd. DUO

9 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 354.8M
▲ 4.6% YoY
CNY -84.7M
▼ 374.7% YoY
CNY -83.6M
In brief

What this company does

The company operates a real estate-focused online marketplace for real estate transactions and related services in China. Its marketplace connects real estate sellers, agents, buyers, and other participants, enabling them to transact real estate assets with efficiency at lowered costs. In 2025, the gross merchandise value of closed-loop transactions facilitated in its marketplace was RMB14.7 billion (US$2.1 billion). It provides marketplace participants with SaaS solutions for agents, real estate sellers and real estate buyers, along with other real estate related services such as asset management services. Its principal executive offices are located in Shenzhen, with approximately 676 square meters of office space. The company commenced operations in October 2011 through Shenzhen Fangdd Network Technology Co., Ltd., or Fangdd Network, a company incorporated in China. In September 2013, it incorporated Fangdd Cayman in the Cayman Islands as its holding company.

Written from the business description in Fangdd Network Group Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 6 May 2026. Every sentence was checked against that document before publication.

Growth
CNY 354.8M
Revenue, FY2025 · full 9-year series below
Revenue CNY B Net income CNY B
FY2025 · Revenue 0.4 · Net income -0.1
2.0B-0.4B-0.8B201720182019202020212022202320242025
Compound annual growth
+13.0%
−32.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −32.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−24 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -37.6% · Net -24.2%
-50%-100%201720182019202020212022202320242025
ROE
FY2025 · ROE -17.6%
-50%-100%201720182019202020212022202320242025

Each CNY of equity lost 18 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF -83.6
50.0M100.0M-250.0M-500.0M201720182019202020212022202320242025

Total assetsCNY 788.3M
EquityCNY 578.4M
CashCNY 29.3M
Current ratio1.86×

Equity funds 73% of total assets.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017
Revenue CNY B0.40.30.30.20.92.53.62.31.8
Operating income CNY B−0.1−0.1−0.3−0.2−1.0−0.2−0.50.1−0.0
EBITDA CNY B−0.1−0.1−0.3−0.2−0.9−0.2−0.50.10.0
Income tax CNY B−0.0−0.0−0.00.00.00.00.00.00.0
Net income CNY B−0.10.0−0.1−0.2−1.2−0.2−0.50.10.0
Free cash flow CNY B−0.1−0.1−0.2−0.1−0.1−0.30.10.1−0.7
EPS, diluted CNY −12.9645.25−357.66−660.40−0.58−0.11−1.17−0.15−0.24
Dividend / sh CNY ·········
Payout %·········
ROE %−17.610.6−62.0−118.1−133.3−14.5···
Shares out B·······0.95·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 43 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 52 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2017

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