Fangdd Network Group (DUO) Company Report

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Recent press releases and 8-K filings for DUO.

Fangdd Network Group Ltd. Announces Convertible Note Issuance and Proposed Class C Share Issuance

DUO

Debt Issuance

M&A

Fangdd Network Group Ltd. (DUO) announced the issuance of a US$34,320,000 convertible promissory note to an investor through private placement to satisfy payment obligations for an asset acquisition.
The note, issued on October 24, 2025, matures in 364 days without interest and is convertible into Class A ordinary shares at a conversion price of US$1.0409 per share.
To maintain a stable corporate structure following the potential conversion of the note, the company entered into a share subscription agreement with ZX INTERNATIONAL LTD, controlled by its chairman and CEO, for the issuance of up to 12,731 Class C ordinary shares.

Oct 24, 2025, 8:05 PM

Fangdd Network Group Ltd. Reports Q2 2025 Financials and Going Concern Status

DUO

Earnings

Demand Weakening

Delisting/Listing Issues

Fangdd Network Group Ltd. reported an accumulated deficit of RMB 4,656,714 thousand as of June 30, 2025, and incurred a net loss of RMB 39,182 thousand with cash outflows from operating activities of RMB 21,235 thousand for the six months ended June 30, 2025.
The company's total assets decreased from RMB 731,189 thousand as of December 31, 2024, to RMB 679,002 thousand as of June 30, 2025, while total liabilities decreased from RMB 347,888 thousand to RMB 297,792 thousand during the same period.
Cash and cash equivalents significantly declined from RMB 75,351 thousand as of December 31, 2024, to RMB 34,647 thousand as of June 30, 2025.
Management concluded that it is appropriate to prepare financial statements on a going concern basis, expecting to reduce operating expenditure and seek additional equity or debt financing, despite uncertainties in the real estate market.
Between October and December 2024, the company issued millions of Class A ordinary shares through sales and warrant exercises, including 1,612,902 shares at US$1.55 on October 1, 2024, and 6,092,446 shares at US$0.70 on December 10, 2024.

Sep 29, 2025, 12:12 PM

Fangdd Network Group Ltd. Reports First Half 2025 Unaudited Financial Results

DUO

Earnings

Profit Warning

Fangdd Network Group Ltd. reported a 45.3% increase in revenue to RMB203.4 million (US$28.4 million) for the six months ended June 30, 2025, compared to RMB140.0 million for the same period in 2024.
The company recorded a net loss of RMB39.2 million (US$5.5 million) for the first half of 2025, a change from the net income of RMB16.4 million reported for the same period in 2024.
Total closed-loop GMV facilitated on the platform increased by 27.3% to RMB8.0 billion (US$1.1 billion) for the six months ended June 30, 2025, up from RMB6.2 billion in the prior year period.
Gross margin for the six months ended June 30, 2025, was 9.1%, a decrease from 12.5% for the same period in 2024, primarily due to a lower contribution from higher-margin value-added services.
As of June 30, 2025, the company had cash and cash equivalents, restricted cash, and short-term investments totaling RMB188.1 million (US$26.3 million).