NASDAQ : DUO
Fangdd Network Group Ltd. — Financial statements
Real Estate · Real Estate Services · China
Last price 0.6098 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 23.51M
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Financial statements
Fangdd Network Group Ltd. (DUO) reported revenue of 267.17M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 267.17M | 354.82M | 339.10M | 284.96M | 245.95M | 942.38M |
| Cost of Revenue | 206.74M | 291.23M | 277.36M | 243.76M | 221.21M | 835.87M |
| Gross Profit | 60.44M | 63.59M | 61.75M | 41.19M | 24.73M | 106.51M |
| Selling, General & Admin | 122.20M | 171.51M | 162.63M | 274.22M | 208.16M | 896.27M |
| Research & Development | 25.69M | 25.38M | 24.77M | 32.14M | 65.97M | 167.53M |
| Operating Expenses | 147.89M | 196.89M | 187.41M | 306.36M | 274.13M | 1.06B |
| Operating Income | -87.46M | -133.30M | -125.66M | -265.17M | -249.39M | -957.29M |
| Interest Expense | -621.00K | -5.14M | -8.32M | |||
| Interest & Investment Income | 12.00K | 83.00K | 1.68M | |||
| Earnings From Equity Investments | -287.00K | -722.00K | -196.00K | 442.00K | -2.02M | -47.00K |
| Currency Exchange Gain (Loss) | 12.03M | 5.34M | -8.42M | 333.00K | 375.00K | -394.00K |
| Other Non Operating Income (Expenses) | 33.39M | 54.88M | 156.35M | 185.94M | 101.98M | 27.91M |
| EBT Excluding Unusual Items | -42.32M | -73.71M | 23.75M | -79.07M | -154.20M | -938.14M |
| Impairment of Goodwill | -621.00K | -621.00K | -454.00K | -31.19M | ||
| Gain (Loss) on Sale of Investments | -63.44M | -40.86M | -4.79M | -18.80M | -70.26M | -213.22M |
| Gain (Loss) on Sale of Assets | 5.34M | 8.92M | 1.41M | 3.33M | ||
| Asset Writedown | -7.64M | -11.54M | ||||
| Other Unusual Items | 272.00K | |||||
| Pretax Income | -101.03M | -106.27M | 20.65M | -94.99M | -232.10M | -1.19B |
| Income Tax Expense | -19.72M | -20.26M | -7.66M | -1.89M | 7.49M | 8.91M |
| Earnings From Continuing Operations | -81.31M | -86.01M | 28.30M | -93.10M | -239.59M | -1.20B |
| Minority Interest in Earnings | 680.00K | 1.30M | 2.53M | 1.35M | -4.45M | 31.83M |
| Net Income | -80.63M | -84.71M | 30.83M | -91.75M | -244.04M | -1.17B |
| Net Income to Common | -80.63M | -84.71M | 30.83M | -91.75M | -244.04M | -1.17B |
| Shares Outstanding (Basic) | 24.31M | 6.54M | 681.40K | 256.54K | 23.10K | 22.47K |
| Shares Outstanding (Diluted) | 24.31M | 6.54M | 681.40K | 256.54K | 23.10K | 22.47K |
| EPS (Basic) | -3.32 | -12.96 | 45.25 | -357.66 | -10,566.25 | -52,116.63 |
| EPS (Diluted) | -3.32 | -12.96 | 45.25 | -357.66 | -10,566.25 | -52,116.63 |
| Free Cash Flow | -75.20M | -83.60M | -91.61M | -186.41M | -127.18M | -73.08M |
| Free Cash Flow Per Share | -3.09 | -12.79 | -134.44 | -726.65 | -5,506.45 | -3,252.00 |
| Gross Margin | 22.62% | 17.92% | 18.21% | 14.46% | 10.06% | 11.30% |
| Operating Margin | -32.73% | -37.57% | -37.06% | -93.06% | -101.40% | -101.58% |
| Profit Margin | -30.18% | -23.87% | 9.09% | -32.20% | -99.22% | -124.28% |
| Free Cash Flow Margin | -28.15% | -23.56% | -27.02% | -65.42% | -51.71% | -7.75% |
| EBITDA | -57.35M | -114.62M | -125.07M | -264.20M | -246.65M | -949.60M |
| EBITDA Margin | -21.46% | -32.30% | -36.88% | -92.72% | -100.28% | -100.77% |
| D&A For EBITDA | 30.11M | 18.68M | 590.00K | 966.00K | 2.74M | 7.70M |
| EBIT | -87.46M | -133.30M | -125.66M | -265.17M | -249.39M | -957.29M |
| EBIT Margin | -32.73% | -37.57% | -37.06% | -93.06% | -101.40% | -101.58% |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.87M | 29.33M | 75.35M | 121.73M | 143.93M | 492.11M |
| Short-Term Investments | 89.47M | 114.87M | 113.63M | 15.31M | 2.00M | 6.15M |
| Cash & Short-Term Investments | 103.34M | 144.20M | 188.98M | 137.04M | 145.93M | 498.26M |
| Accounts Receivable | 131.73M | 148.66M | 196.04M | 314.64M | 471.00M | 884.74M |
| Other Receivables | 80.50M | 68.74M | 117.39M | 94.67M | 93.36M | 57.99M |
| Receivables | 212.23M | 217.41M | 314.10M | 418.18M | 590.34M | 981.37M |
| Inventory | 4.94M | 5.02M | 5.38M | 12.50M | 11.16M | |
| Restricted Cash | 3.90M | 3.33M | 14.13M | 22.17M | 38.81M | 24.13M |
| Other Current Assets | 18.62M | 20.13M | 26.02M | 23.18M | 72.65M | 123.55M |
| Total Current Assets | 343.02M | 390.09M | 548.62M | 613.08M | 858.89M | 1.63B |
| Property, Plant & Equipment | 33.80M | 33.71M | 16.80M | 4.34M | 5.24M | 14.56M |
| Long-Term Investments | 109.23M | 130.40M | 164.76M | 148.70M | 212.09M | 271.12M |
| Goodwill | 454.00K | |||||
| Other Intangible Assets | 215.09M | 234.06M | 1.00M | 1.13M | ||
| Other Long-Term Assets | 2.66M | |||||
| Total Assets | 701.14M | 788.26M | 731.19M | 769.90M | 1.08B | 1.91B |
| Accounts Payable | 55.87M | 72.78M | 180.74M | 341.76M | 659.22M | 1.18B |
| Accrued Expenses | 49.51M | 47.13M | 61.04M | 62.14M | 41.90M | 78.01M |
| Short-Term Debt | 72.50M | 134.78M | ||||
| Current Portion of Leases | 254.00K | 806.00K | 1.33M | 111.00K | 1.24M | |
| Current Income Taxes Payable | 425.00K | 710.00K | 139.00K | 5.07M | 4.88M | 813.00K |
| Other Current Liabilities | 71.50M | 87.95M | 83.33M | 140.64M | 169.99M | 191.18M |
| Total Current Liabilities | 177.56M | 209.37M | 326.58M | 549.72M | 949.72M | 1.58B |
| Long-Term Leases | 130.00K | 29.00K | 792.00K | |||
| Other Long-Term Liabilities | 21.18M | 28.65M | 30.77M | 28.57M | ||
| Total Liabilities | 177.56M | 209.37M | 347.89M | 578.40M | 981.28M | 1.61B |
| Common Stock | 2.45M | 2.45M | 136.00K | 17.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 5.67B | 5.67B | 5.39B | 5.24B | 5.05B | 5.03B |
| Retained Earnings | -4.74B | -4.70B | -4.62B | -4.65B | -4.56B | -4.31B |
| Comprehensive Income & Other | -411.88M | -394.16M | -383.24M | -398.16M | -393.84M | -404.88M |
| Total Common Equity | 526.34M | 578.40M | 386.34M | 195.84M | 100.12M | 313.26M |
| Minority Interest | -2.75M | 489.00K | -3.04M | -4.35M | -4.72M | -9.58M |
| Shareholders' Equity | 523.59M | 578.89M | 383.30M | 191.50M | 95.39M | 303.68M |
| Total Liabilities & Equity | 701.14M | 788.26M | 731.19M | 769.90M | 1.08B | 1.91B |
| Total Debt | 254.00K | 806.00K | 1.46M | 140.00K | 74.53M | 134.78M |
| Net Cash (Debt) | 103.08M | 143.40M | 187.52M | 136.91M | 71.40M | 363.48M |
| Net Cash Per Share | 4.24 | 21.93 | 275.20 | 533.66 | 3,091.40 | 16,174.66 |
| Filing Date Shares Outstanding | 38.55M | 38.55M | 3.07M | 403.94K | 237.24K | 22.18K |
| Total Common Shares Outstanding | 38.55M | 38.55M | 2.24M | 375.67K | 27.45K | 22.18K |
| Working Capital | 165.47M | 180.72M | 222.04M | 63.36M | -90.83M | 46.57M |
| Book Value Per Share | 13.65 | 15.00 | 172.83 | 521.33 | 3,646.68 | 14,123.49 |
| Tangible Book Value | 311.25M | 344.34M | 385.34M | 194.71M | 99.66M | 313.26M |
| Tangible Book Value Per Share | 8.07 | 8.93 | 172.38 | 518.32 | 3,630.14 | 14,123.49 |
| Buildings | 34.76M | 33.05M | 13.08M | 1.16M | 2.59M | 2.59M |
| Machinery | 1.44M | 1.46M | 3.57M | 3.90M | 4.37M | 19.31M |
| Leasehold Improvements | 46.31M | 46.31M | 46.31M | 46.31M | 57.16M | 63.78M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -80.63M | -84.71M | 30.83M | -91.75M | -244.04M | -1.17B |
| Depreciation & Amortization | 31.28M | 20.03M | 1.70M | 2.08M | 3.34M | 7.70M |
| Loss (Gain) From Sale of Assets | -4.90M | -8.18M | -1.41M | -3.33M | 322.00K | |
| Asset Writedown & Restructuring Costs | 4.06M | 12.74M | 241.00K | 729.00K | 8.92M | 42.73M |
| Loss (Gain) From Sale of Investments | 42.89M | 40.86M | 4.79M | 18.80M | 219.63M | 213.22M |
| Loss (Gain) on Equity Investments | 287.00K | 722.00K | 196.00K | -442.00K | 2.02M | 47.00K |
| Stock-Based Compensation | 18.00K | 105.00K | 16.72M | 47.07M | ||
| Provision & Write-off of Bad Debts | 29.09M | 43.73M | 78.20M | 201.88M | -67.61M | 612.65M |
| Other Operating Activities | -48.39M | -55.50M | -146.02M | -169.88M | -29.53M | -28.01M |
| Change in Accounts Receivable | 23.15M | 11.56M | 54.14M | 97.78M | 497.58M | 867.03M |
| Change in Inventory | 126.00K | 358.00K | 7.12M | -1.35M | ||
| Change in Accounts Payable | -27.04M | -70.79M | 3.69M | -85.16M | -452.27M | -620.36M |
| Change in Income Taxes | -1.51M | -1.42M | -4.93M | -1.93M | 6.26M | 5.01M |
| Change in Other Net Operating Assets | -44.05M | 30.41M | -88.93M | -153.66M | -88.02M | -36.85M |
| Operating Cash Flow | -75.63M | -60.19M | -60.37M | -186.12M | -126.98M | -60.62M |
| Capital Expenditures | 429.00K | -23.41M | -31.24M | -296.00K | -194.00K | -12.46M |
| Sale of Property, Plant & Equipment | 4.49M | 7.93M | 40.00K | 252.00K | ||
| Cash Acquisitions | -2.41M | -305.00K | 215.00K | -648.00K | ||
| Divestitures | 452.00K | -710.00K | 68.00K | |||
| Investment in Securities | 53.16M | -18.72M | -115.03M | 31.72M | -158.47M | -31.52M |
| Other Investing Activities | -7.92M | -7.72M | ||||
| Investing Cash Flow | 48.20M | -42.94M | -145.98M | 31.43M | -159.27M | -43.73M |
| Short-Term Debt Issued | 72.50M | 154.18M | ||||
| Total Debt Issued | 72.50M | 154.18M | ||||
| Short-Term Debt Repaid | -72.50M | -134.78M | -462.84M | |||
| Total Debt Repaid | -72.50M | -134.78M | -462.84M | |||
| Net Debt Issued (Repaid) | -72.50M | -62.28M | -308.66M | |||
| Issuance of Common Stock | 2.42M | 44.70M | 144.72M | 191.70M | 3.14M | |
| Other Financing Activities | -649.00K | 3.24M | 1.91M | 635.00K | 490.00K | 1.53M |
| Financing Cash Flow | 1.77M | 47.94M | 146.63M | 119.83M | -58.65M | -307.13M |
| Foreign Exchange Rate Adjustments | -938.00K | -1.63M | 5.31M | -3.99M | 11.41M | -8.32M |
| Net Cash Flow | -26.61M | -56.83M | -54.41M | -38.85M | -333.49M | -419.79M |
| Free Cash Flow | -75.20M | -83.60M | -91.61M | -186.41M | -127.18M | -73.08M |
| Free Cash Flow Margin | -28.15% | -23.56% | -27.02% | -65.42% | -51.71% | -7.75% |
| Free Cash Flow Per Share | -3.09 | -12.79 | -134.44 | -726.65 | -5,506.45 | -3,252.00 |
| Levered Free Cash Flow | -70.66M | -89.63M | -216.02M | -253.67M | -293.10M | 263.93M |
| Unlevered Free Cash Flow | -70.66M | -89.63M | -216.02M | -253.28M | -289.89M | 269.13M |
| Cash Interest Paid | 946.00K | 326.00K | 6.16M | 18.28M | ||
| Cash Income Tax Paid | 117.00K | 32.00K | 33.00K | 37.00K | 812.00K | 445.00K |
| Change in Working Capital | -49.32M | -29.88M | -28.91M | -144.31M | -36.45M | 214.83M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 20.77M | 56.28M | 19.05M | |||
| Enterprise Value | 5.59M | 32.97M | 110.52K | |||
| Last Close Price | 0.55 | 1.46 | 9.57 | |||
| PE Ratio | 4.51 | |||||
| PS Ratio | 0.51 | 1.11 | 0.41 | |||
| PB Ratio | 0.27 | 0.68 | 0.36 | |||
| P/TBV Ratio | 0.44 | 1.14 | 0.36 | |||
| EV/Sales Ratio | 0.13 | 0.65 | 0.00 | |||
| Debt / Equity Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.78 | 0.44 |
| Net Debt / Equity Ratio | -0.20 | -0.25 | -0.49 | -0.71 | -0.75 | -1.20 |
| Net Debt / EBITDA Ratio | 1.80 | 1.25 | 1.50 | 0.52 | 0.29 | 0.38 |
| Net Debt / FCF Ratio | 1.37 | 1.72 | 2.05 | 0.73 | 0.56 | 4.97 |
| Asset Turnover | 0.39 | 0.47 | 0.45 | 0.31 | 0.17 | 0.32 |
| Inventory Turnover | 41.34 | 55.99 | 31.02 | 20.61 | ||
| Quick Ratio | 1.78 | 1.73 | 1.54 | 0.99 | 0.75 | 0.91 |
| Current Ratio | 1.93 | 1.86 | 1.68 | 1.11 | 0.90 | 1.03 |
| Return on Equity (ROE) | -17.97% | -17.88% | 9.85% | -64.91% | -120.07% | -135.96% |
| Return on Assets (ROA) | -7.92% | -10.97% | -10.46% | -17.95% | -10.43% | -20.07% |
| Return on Invested Capital (ROIC) | -20.80% | -42.23% | -100.38% | -674.84% | -1,039.35% | |
| Return on Capital Employed (ROCE) | -16.70% | -23.00% | -31.10% | -120.40% | -196.40% | -288.10% |
| Earnings Yield | -90.63% | -21.52% | 22.17% | |||
| FCF Yield | -55.88% | -21.24% | -65.87% | |||
| Buyback Yield / Dilution | -1,116.20% | -859.52% | -165.61% | -1,010.75% | -2.78% | -1.46% |