Announcement • May 01
Fangdd Network Group Ltd. announced delayed 20-F filing On 04/30/2026, Fangdd Network Group Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (over 13x increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$53.2m market cap). Announcement • Oct 25
Fangdd Network Group Ltd. announced that it expects to receive $34.2 million in funding Fangdd Network Group Ltd. announced it has entered into a convertible note purchase agreement on October 24, 2025. The company will issue a convertible promissory note in a principal amount of $34,320,000 to an investor through private placement. The Note will mature in 364 days after issuance without bearing interest. Prior to the full repayment of the outstanding principal amount, the Note is convertible into Class A ordinary shares at the option of the Note holder, at a conversion price of $1.0409. If not previously converted, the outstanding principal amount of the Note will automatically convert into Class A Ordinary Shares on the maturity date. The Note will be an unsecured general obligation of the Company. Reported Earnings • Oct 05
First half 2025 earnings released: CN¥0.10 loss per share (vs CN¥0.006 profit in 1H 2024) First half 2025 results: CN¥0.10 loss per share (down from CN¥0.006 profit in 1H 2024). Revenue: CN¥203.4m (up 45% from 1H 2024). Net loss: CN¥38.1m (down 319% from profit in 1H 2024). Announcement • Sep 26
Fangdd Network Group Ltd. Announces the Resignation of Yi Duan as Director Fangdd Network Group Ltd. announced that Mr. Yi Duan has resigned from the company as a member of the Company’s board of directors (the “Board”). Mr. Duan’s resignation was for personal reasons. Reported Earnings • Sep 01
First half 2025 earnings released First half 2025 results: Revenue: CN¥203.4m (up 45% from 1H 2024). Net loss: CN¥38.1m (down 319% from profit in 1H 2024). New Risk • Aug 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Market cap is less than US$10m (US$5.66m market cap). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$2.42, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 17x in the Interactive Media and Services industry in the US. New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Market cap is less than US$10m (US$9.05m market cap). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Jun 26
Fangdd Network Group Regains Compliance with Nasdaq Minimum Bid Price Listing Requirements Fangdd Network Group Ltd. announced that on June 24, 2025, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2). As previously disclosed, the company received a delinquency notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on December 24, 2024 indicating that the Company was not in compliance with the minimum bid price requirement set in Nasdaq’s Listing Rules for continued listing on the Nasdaq Stock Market, as the closing bid price for the Company’s Class A ordinary shares listed on the Nasdaq Stock Market was below $1.00 per share for 30 consecutive business days. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice provides that the Company has a period of 180 calendar days from the date of the Notice, or until June 23, 2025, to regain compliance with the minimum bid price requirement. This requirement was met on June 23, 2025. New Risk • Jun 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.92m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Market cap is less than US$10m (US$9.92m market cap). Reported Earnings • Apr 23
Full year 2024 earnings released: EPS: CN¥3.45 (vs CN¥15.27 loss in FY 2023) Full year 2024 results: EPS: CN¥3.45 (up from CN¥15.27 loss in FY 2023). Revenue: CN¥339.1m (up 19% from FY 2023). Net income: CN¥30.8m (up CN¥122.6m from FY 2023). Profit margin: 9.1% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.37m market cap). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Apr 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.38m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.38m market cap). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Dec 11
Fangdd Network Group Ltd. has filed a Follow-on Equity Offering. Fangdd Network Group Ltd. has filed a Follow-on Equity Offering.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Security Name: Pre-funded warrants
Security Type: Equity Warrant
Transaction Features: Registered Direct Offering New Risk • Nov 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.52m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Market cap is less than US$10m (US$9.52m market cap). Announcement • Oct 12
Fangdd Network Group Ltd. announced that it has received $0.00987 million in funding from ZX International Ltd Fangdd Network Group Ltd. announced that it has entered a share subscription agreement with ZX International Ltd that it has issued 3,901 newly created Class C ordinary shares of par value US$0.0005625 each to the Subscriber, at a per share price of $2.53 per share for the gross proceeds of $9,870 on October 10, 2024. The issuance of Class C Ordinary Shares in accordance with the Subscription Agreement is exempt from registration under the Securities Act of 1933, as amended pursuant to Section 4(2) of the Securities Act regarding transactions not involving a public offering and is made in reliance on, and in compliance with, Regulation S under the Securities Act. Announcement • Oct 07
Fangdd Network Group Ltd. has filed a Follow-on Equity Offering in the amount of $5 million. Fangdd Network Group Ltd. has filed a Follow-on Equity Offering in the amount of $5 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,464,000
Price\Range: $1.6
Discount Per Security: $0.112
Security Name: Pre Funded Warrants
Security Type: Equity Warrant
Securities Offered: 661,232
Price\Range: $1.599438
Discount Per Security: $0.111961 Announcement • Oct 02
Fangdd Network Group Ltd. has filed a Follow-on Equity Offering in the amount of $2.499998 million. Fangdd Network Group Ltd. has filed a Follow-on Equity Offering in the amount of $2.499998 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,612,902
Price\Range: $1.55
Discount Per Security: $0.1085 Reported Earnings • Oct 01
First half 2024 earnings released: EPS: CN¥4.70 (vs CN¥3.82 in 1H 2023) First half 2024 results: EPS: CN¥4.70 (up from CN¥3.82 in 1H 2023). Revenue: CN¥140.0m (down 8.8% from 1H 2023). Net income: CN¥17.4m (up 84% from 1H 2023). Profit margin: 12% (up from 6.2% in 1H 2023). The increase in margin was driven by lower expenses. Announcement • Jun 13
Fangdd Network Group Ltd. Announces Board and Committee Changes Fangdd Network Group Ltd. announced that the Company’s board of directors has appointed Mr. Jun Luo as a director of the Company, the chairman of the Nominating and Corporate Governance Committee, a member of the Compensation Committee, and a member of the Audit Committee, to succeed Mr. Zhen Xie, who has resigned from these positions for personal reasons. These Board and committee changes became effective as of June 10, 2024. Mr. Jun Luo has extensive experience in operational planning and investment management. Mr. Luo is currently the co-vice chairman of the board of directors and the chief executive officer of Kaisa Health Group Holdings Ltd. From May 2018 to October 2023, Mr. Luo served as a director of Pacific Shuanglin Bio-pharmacy Co. Ltd. Mr. Luo obtained his bachelor’s degree in management from Nanjing University of Finance & Economics in 2003 and a master’s degree in business administration from Tongji University. The Board has determined that Mr. Jun Luo satisfies the independence requirements of Rule 5605(c)(2) of the Listing Rules of the Nasdaq Stock Market and Rule 10A-3 under the Securities Exchange Act of 1934, as amended. Reported Earnings • Apr 22
Full year 2023 earnings released: CN¥24.86 loss per share (vs CN¥660 loss in FY 2022) Full year 2023 results: CN¥24.86 loss per share (improved from CN¥660 loss in FY 2022). Revenue: CN¥285.0m (up 16% from FY 2022). Net loss: CN¥91.8m (loss narrowed 62% from FY 2022). New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.0% per year over the past 5 years. Market cap is less than US$10m (US$1.69m market cap). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • Nov 03
Fangdd Network Group Ltd. Announces Resignation of Ms. Li Xiao as A Member of Board of Directors Fangdd Network Group Ltd. announced the resignation of Ms. Li Xiao as a member of the Company’s board of directors (the “Board”) and Vice President of the Company, effective November 2, 2023. Ms. Xiao’s resignation was for personal reasons and was not due to any disagreement with the Board, the Company or any of its affiliates on any matter relating to the Company's operations, policies or practices. Reported Earnings • Oct 02
First half 2023 earnings released: EPS: CN¥3.82 (vs CN¥541 loss in 1H 2022) First half 2023 results: EPS: CN¥3.82 (up from CN¥541 loss in 1H 2022). Revenue: CN¥153.5m (up 6.0% from 1H 2022). Net income: CN¥9.46m (up CN¥206.3m from 1H 2022). Profit margin: 6.2% (up from net loss in 1H 2022). Reported Earnings • Aug 28
First half 2023 earnings released: EPS: CN¥3.82 (vs CN¥541 loss in 1H 2022) First half 2023 results: EPS: CN¥3.82 (up from CN¥541 loss in 1H 2022). Revenue: CN¥153.5m (up 6.0% from 1H 2022). Net income: CN¥9.46m (up CN¥206.3m from 1H 2022). Profit margin: 6.2% (up from net loss in 1H 2022). New Risk • Aug 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CN¥127m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥127m free cash flow). Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 2.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Market cap is less than US$10m (US$6.34m market cap). Announcement • Aug 22
Fangdd Regains Compliance with Nasdaq Minimum Bid Price Requirement Fangdd Network Group Ltd. announced that the Company had received a notification letter from the Nasdaq Stock Market LLC, dated August 18, 2023, indicating that the Company has regained compliance with the minimum bid price requirement set under the Nasdaq Listing Rule 5450(a)(1). As previously announced, the Company was notified by Nasdaq on June 22, 2023 that the Company was not in compliance with the Minimum Bid Price Requirement as the bid price of the Company’s American depositary shares (“ADSs”) closed below USD 1.00 per share for 30 consecutive business days. In order to regain compliance with the Minimum Bid Price Requirement, the Company changed the ratio of its ADSs representing Class A ordinary shares from one (1) ADS representing three hundred and seventy-five (375) Class A ordinary share to one (1) ADS representing five thousand six hundred and twenty-five (5,625) Class A ordinary shares. The change became effective on August 4, 2023. On August 18, 2023, Nasdaq confirmed in the Compliance Notice that for the ten consecutive business days, from August 4 through August 17, 2023, the closing bid price of the Company’s ADSs has been at USD 1.00 per share or greater. Accordingly, the Company has regained compliance with the Nasdaq Listing Rule 5450(a)(1), and the matter is closed. Announcement • Jun 24
Fangdd Receives Nasdaq Notice Regarding Minimum Bid Price Requirements Fangdd Network Group Ltd. announced that it has received a written notification from The Nasdaq Stock Market LLC (“Nasdaq”) dated June 22, 2023, notifying that the Company is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the “Rule”) as the bid price of the Company’s American depositary shares (“ADSs”) closed below US$1 per share for the last 30 consecutive business days from May 9, 2023 to June 21, 2023. The Company has been granted a grace period of 180 calendar days, expiring on December 19, 2023, in which to regain compliance. The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company’s ADSs is at least U$1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may be eligible for additional time. The Company intends to monitor the closing bid price of its ADSs between now and December 19, 2023 and intends to consider available options to cure the deficiency and regain compliance with the Rule’s minimum bid price requirement within the prescribed grace period. The Company’s ADSs will continue to be listed and trade on the Nasdaq Capital Market during this period, unaffected by the receipt of the written notification from Nasdaq. Reported Earnings • Mar 17
Full year 2022 earnings released: CN¥44.03 loss per share (vs CN¥217 loss in FY 2021) Full year 2022 results: CN¥44.03 loss per share (improved from CN¥217 loss in FY 2021). Revenue: CN¥245.9m (down 74% from FY 2021). Net loss: CN¥244.0m (loss narrowed 79% from FY 2021). Announcement • Jan 14
Fangdd Network Group Ltd. announced that it expects to receive $21 million in funding Fangdd Network Group Ltd. announced that it has entered into agreement for a private placement of convertible promissory note for proceeds of $21,000,000 on January 13, 2023. The Note will mature in six months following the issuance, bearing interest at the rate of 8% per annum which shall be payable on the maturity date. At the Company’s option, the term of the Note may be extended to a period no more than 364 days. The note is convertible into into class A ordinary shares of the Company at the option of the holder thereof at a price equal to 64% of the higher of the following, the average closing price of the American depositary shares for the last 5 days preceding the date of the conversion notice and $0.47. This Note is unsecured. The closing of the transactions is subject to the satisfaction of customary closing conditions and is expected to take place in February 2023. Reported Earnings • Dec 09
First half 2022 earnings released: CN¥36.07 loss per share (vs CN¥43.79 loss in 1H 2021) First half 2022 results: CN¥36.07 loss per share (improved from CN¥43.79 loss in 1H 2021). Revenue: CN¥144.8m (down 79% from 1H 2021). Net loss: CN¥196.8m (loss narrowed 16% from 1H 2021). Announcement • Dec 07
Fangdd Network Group Ltd. (NasdaqGM:DUO) acquired Beijing Tuqiang Yunxia Technology Limited. Fangdd Network Group Ltd. (NasdaqGM:DUO) acquired Beijing Tuqiang Yunxia Technology Limited in March, 2022.
Fangdd Network Group Ltd. (NasdaqGM:DUO) completed the acquisition of Beijing Tuqiang Yunxia Technology Limited in March, 2022. Announcement • Dec 01
Fangdd Network Group Ltd. announced that it has received $0.089475 million in funding from ZX International Ltd Fangdd Network Group Ltd. announced that it has entered into a security purchase agreement for the issuance of 75,000 newly created Class C ordinary shares of par value US$0.0000001 each at a price of $$1.193 for gross proceeds of $89,475 on November 30, 2022. The transaction included participation from ZX International Ltd for 7.7% stake. Each class C ordinary share entitles the holder thereof to 10,000 votes on all matters subject to a shareholder vote. Each class C ordinary share is convertible into one Class A ordinary share of the company at the option of the holder thereof. the creation and issuance of class C ordinary shares has been approved by the company’s audit committee and the board. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Senlin Peng was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Nov 12
Fangdd Network Group Ltd. Announces Board and Committee Changes Fangdd Network Group Ltd. announced that the Company’s board of directors (the “Board”) has appointed Mr. Zhen Xie as (i) a director of the Company, (ii) the chairman of the Nominating and Corporate Governance Committee, (iii) a member of the Compensation Committee, and (iv) a member of the Audit Committee, to succeed Mr. Weiru Chen, who has resigned from these positions for personal reasons. These Board and committee changes became effective today. Mr. Zhen Xie is the founder and currently the chief executive officer of Shanghai MaiQin Information Technology Co. Ltd. (“MaiTao”), a family-tour platform focusing on children extracurricular activities and traveling experience. Prior to founding MaiTao in 2014, Mr. Xie worked at eLong Inc., a leading Chinese mobile and online travel agency, as the chief operation officer from 2011 to 2014 and as a vice president of business development from 2008 to 2011. Previously, Mr. Xie served as a sales director at FedEx Kinko’s from 2004 to 2007, a wealth management manager at Citibank (China) Co. Ltd. from 2002 to 2004, and a regional manager at Procter & Gamble (China) Ltd., a Chinese subsidiary of The Procter & Gamble Company from 1997 to 2000. Mr. Xie received a bachelor’s degree in economy from Nanjing University International Business School in 1997 and an MBA degree from China Europe International Business School in 2001. Announcement • Oct 22
Fangdd Network Receives Nasdaq Notification Regarding Minimum Market Value Deficiency Fangdd Network Group Ltd. (“FangDD” or the “Company”) announced that it has received written notification (the “Notification Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) dated October 20, 2022, notifying the Company that it is not in compliance with the minimum market value requirement set in Nasdaq Listing Rules for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(1)(C) requires companies to maintain a minimum market value of publicly held shares of at least $5 million, and Listing Rule 5810(c)(3)(D) provides that a failure to meet the market value requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the market value of the Company for the 30 consecutive business days from September 8, 2022 to October 19, 2022, the Company no longer meets the minimum market value requirement. The Notification Letter does not impact the Company’s listing on The Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided 180 calendar days, or until April 18, 2023, to regain compliance with Nasdaq Listing Rule 5450(b)(1)(C). To regain compliance, the Company’s market value of publicly held shares must exceed $5 million for a minimum of ten consecutive business days. In the event that the Company does not regain compliance by April 18, 2023, the Company may be eligible for additional time to regain compliance, or may face delisting. The Company intends to monitor its market value of publicly held shares between now and April 18, 2023 and intends to cure the deficiency within the prescribed grace period. During this time, the Company expects that American depositary shares representing Class A ordinary shares of the Company will continue to be listed and traded on The Nasdaq Global Market. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: CN¥0 (vs CN¥43.76 loss in 1H 2021) First half 2022 results: EPS: CN¥0 (up from CN¥43.76 loss in 1H 2021). Revenue: CN¥144.8m (down 79% from 1H 2021). Net loss: CN¥196.8m (loss narrowed 16% from 1H 2021). Announcement • Jul 20
Fangdd Network Group Ltd. Announces Board and Committee Changes Fangdd Network Group Ltd. announced that Company’s board of directors (the “Board”) has appointed Mr. Yang Li as (i) a director of the Company, (ii) the chairman of the Audit Committee, (iii) the chairman of the Compensation Committee, and (iv) a member of the Nominating and Corporate Governance Committee, to succeed Mr. Johnny Kar Ling Ng, who has resigned from these positions for personal reasons. These Board and committee changes became effective from July 19, 2022. Mr. Yang Li has over 24 years of experience in a wide range of financial and accounting fields, including external and internal auditing, financial planning and analysis and financial due diligence. Mr. Yang Li is currently the managing partner of ThinkBridge CPAs, a professional accounting firm providing assurance, business management and financial consulting services. Prior to joining ThinkBridge CPAs in December 2012, Mr. Li was a partner at Shanghai NuoDe Certified Public Accounts Co. Ltd. from August 2004 to November 2012, where he advised clients in China on finance, management and risk management issues. Prior to that, Mr. Li worked at multiple auditing and consulting firms, including Ernst & Young, Arthur Andersen, PricewaterhouseCoopers and Shanghai De’An Certified Public Accountants, where he was responsible for auditing and financial consulting. Mr. Li has served as an independent director of Shanghai Kaytune Industrial Co. Ltd. since 2019. Mr. Li received a bachelor’s degree from Shanghai International Studies University and a master’s degree at China Europe International Business School. Mr. Li is a member of the Chinese Institute of Certified Public Accountants and the Association of International Accountants. Announcement • Jun 24
Fangdd Network Group Regains Compliance with Nasdaq Minimum Bid Price Requirement Fangdd Network Group Ltd. announced that the Company had received a notification letter (“Compliance Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”), dated June 22, 2022, indicating that the Company has regained compliance with the minimum bid price requirement set forth under the Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”). As previously announced, the Company was notified by Nasdaq on January 4, 2022 that the Company was not in compliance with the Minimum Bid Price Requirement as the bid price of the Company’s American depositary shares (“ADSs”) closed below US$1.00 per share for 30 consecutive business days. In order to regain compliance with the Minimum Bid Price Requirement, the Company changed the ratio of its ADSs representing Class A ordinary shares from one (1) ADS representing twenty five (25) Class A ordinary shares to one (1) ADS representing three hundred seventy-five (375) Class A ordinary shares. The change became effective on June 7, 2022. On June 22, 2022, Nasdaq confirmed in the Compliance Notice that for the ten consecutive business days, from June 7 through June 21, 2022, the closing bid price of the Company’s ADSs has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1), and the matter is closed. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Weiru Chen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 23
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: CN¥942.4m (down 62% from FY 2020). Net loss: CN¥1.17b (loss widened 432% from FY 2020). Revenue missed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 6.1%, compared to a 17% growth forecast for the industry in the US. Announcement • Jan 07
Fangdd Receives Nasdaq Notice Regarding Minimum Bid Requirements Fangdd Network Group Ltd. (“FangDD” or the “Company”) announced that the Company had received a notice from the Nasdaq Stock Market LLC (“Nasdaq”), dated January 4, 2022, notifying that, the Company is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the “Rule”). It has resulted from the fact that the bid price of the Company’s American depositary shares (“ADSs”) closed below $1 per share for the last 30 consecutive business days from November 19, 2021 to January 3, 2022. The Company has been granted a grace period of 180 calendar days, expiring on July 5, 2022, in which to regain compliance. The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company’s ADSs is at least $1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may be eligible for additional time. The Company intends to monitor the closing bid price of its ADSs between now and July 5, 2022 and intends to consider available options to cure the deficiency and regain compliance with the Rule’s minimum bid price requirement within the prescribed grace period. The Company’s ADSs will continue to be listed and trade on the Nasdaq Capital Market during this period, unaffected by the receipt of the written notice from Nasdaq. Reported Earnings • Nov 22
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CN¥169.2m (down 79% from 3Q 2020). Net loss: CN¥336.7m (down CN¥358.6m from profit in 3Q 2020). Reported Earnings • Aug 14
Second quarter 2021 earnings released The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: CN¥401.4m (down 46% from 2Q 2020). Net loss: CN¥132.5m (loss widened CN¥118.5m from 2Q 2020). Breakeven Date Change • May 16
Forecast breakeven pushed back to 2022 The 3 analysts covering Fangdd Network Group previously expected the company to break even in 2021. New consensus forecast suggests losses will reduce by 52% to 2021. The company is expected to make a profit of CN¥144.1m in 2022. Average annual earnings growth of 136% is required to achieve expected profit on schedule. Reported Earnings • May 16
First quarter 2021 earnings released: CN¥1.27 loss per share (vs CN¥1.72 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CN¥291.0m (up 7.0% from 1Q 2020). Net loss: CN¥101.7m (loss narrowed 25% from 1Q 2020). Announcement • May 15
Fangdd Network Group Ltd. Provides Earnings Guidance for the Second Quarter of 2021 Fangdd Network Group Ltd. provided earnings guidance for the second quarter of 2021. For the second quarter of 2021 the company expects its revenue to be between RMB 380 million and RMB 420 million. This forecast only reflects the company’s current and preliminary views on the market and operational conditions, which are subject to change. Major Estimate Revision • Apr 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from CN¥4.29b to CN¥3.00b. EPS estimate unchanged from -CN¥1.14 per share at last update. Interactive Media and Services industry in the US expected to see average net income growth of 11% next year. Consensus price target of US$17.47 unchanged from last update. Share price fell 9.1% to US$5.72 over the past week. Reported Earnings • Mar 28
Full year 2020 earnings released The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: CN¥2.45b (down 32% from FY 2019). Net loss: CN¥220.3m (loss narrowed 83% from FY 2019). Announcement • Mar 28
Fangdd Network Group Ltd. Provides Revenue Guidance for the First Quarter of 2021 Fangdd Network Group Ltd. provided revenue guidance for the first quarter of 2021. For the first quarter of 2021, the company expects its revenue to be in the range between RMB 270 million and RMB 290 million. Is New 90 Day High Low • Mar 05
New 90-day low: US$6.51 The company is down 36% from its price of US$10.10 on 04 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Interactive Media and Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$4.46 per share. Is New 90 Day High Low • Dec 05
New 90-day high: US$10.10 The company is up 43% from its price of US$7.06 on 04 September 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.93 per share. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS CN¥0.27 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CN¥819.1m (down 14% from 3Q 2019). Net income: CN¥21.9m (down 72% from 3Q 2019). Profit margin: 2.7% (down from 8.3% in 3Q 2019). The decrease in margin was driven by lower revenue. Analyst Estimate Surprise Post Earnings • Nov 22
Revenue misses expectations Revenue missed analyst estimates by 29%. Over the next year, revenue is forecast to grow 99%, compared to a 22% growth forecast for the Interactive Media and Services industry in the US. Announcement • Nov 17
Fangdd Network Group Ltd. to Report Q3, 2020 Results on Nov 19, 2020 Fangdd Network Group Ltd. announced that they will report Q3, 2020 results on Nov 19, 2020 Is New 90 Day High Low • Oct 31
New 90-day low: US$6.59 The company is down 24% from its price of US$8.63 on 31 July 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Interactive Media and Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.52 per share. Announcement • Aug 11
Fangdd Network Group Ltd. to Report Q2, 2020 Results on Aug 13, 2020 Fangdd Network Group Ltd. announced that they will report Q2, 2020 results at 5:00 PM, China Standard Time on Aug 13, 2020 