Fangdd Network Group Ltd. - DUO STOCK NEWS

Fangdd Network Group Ltd. (Nasdaq: DUO) has received a notice from Nasdaq regarding non-compliance with its minimum bid price requirement due to its American depositary shares (ADSs) closing below $1 for 30 consecutive business days. The company has a grace period of 180 days, until July 5, 2022, to regain compliance by maintaining a bid price of at least $1 for ten consecutive business days. Despite the notice, Fangdd's ADSs will continue to trade on Nasdaq Capital Market during this period.

Fangdd Network Group Ltd. (NASDAQ: DUO) reported significant financial challenges for Q3 2021. Revenue plunged 57.8% to RMB 169.2 million (US$26.3 million), driven by a 48.5% drop in total closed-loop GMV to RMB 15.2 billion (US$2.4 billion). The company incurred a net loss of RMB 355.0 million (US$55.1 million), reflecting a sharp increase from the RMB 139.0 million loss in Q2 2021. Despite these setbacks, revenue from SaaS solutions grew 38.8%. The company expects Q4 2021 revenue between RMB 130 million and RMB 150 million.

Fangdd Network Group Ltd. (NASDAQ: DUO) plans to release its third quarter 2021 financial results on November 19, 2021, before market opening. A conference call will follow at 7:30 A.M. Eastern Time to discuss these results. Participants must register online to receive dial-in numbers and access codes. Fangdd is a leading property technology company in China, providing a significant online real estate marketplace, with over 1.6 million agents on its platform as of December 31, 2020. More details can be found on the company’s investor relations website.

Fangdd Network Group Ltd. (NASDAQ: DUO) reported a 37.9% revenue increase to RMB401.4 million (US$62.2 million) in Q2 2021. However, the company incurred a net loss of RMB139.0 million (US$21.5 million), mainly due to a RMB79.1 million allowance for doubtful accounts. Active agents rose by 13% to 249.9 thousand, but closed-loop GMV fell by 1% to RMB29.6 billion (US$4.6 billion). Despite challenges in the property market, Fangdd focuses on enhancing platform quality and cash flow management. Its Q3 revenue forecast is between RMB250 million and RMB300 million.

Fangdd Network Group Ltd. (NASDAQ: DUO) will release its Q2 2021 financial results on August 13, 2021. The company, which operates one of China's largest online real estate marketplaces, will host a conference call at 8:00 A.M. ET to discuss the results. Interested participants must register online to receive dial-in information. A replay will be available through August 21, 2021. As of December 31, 2020, over 1.6 million real estate agents were utilizing Fangdd's platform, showcasing its strong presence in the market.

Fangdd Network Group Ltd. (NASDAQ: DUO) reported a 6.9% revenue increase to RMB291.0 million (US$44.4 million) for Q1 2021. Net loss narrowed to RMB104.8 million (US$16.0 million) from RMB136.4 million in 2020. Active agents rose by 1.2% to 221,100, with closed-loop agents growing substantially by 174.6% to 18,400. Total closed-loop GMV soared by 67.0% to RMB29.9 billion (US$4.6 billion). The company expects Q2 revenue between RMB380 million and RMB420 million, showcasing confidence in its asset-light and tech-enabled model amidst growing digital marketing demand in China's real estate sector.

Fangdd Network Group Ltd. (NASDAQ: DUO) will release its Q1 2021 financial results on May 14, 2021, before market opening. The management will host a conference call on the same day at 8:00 A.M. ET to discuss the results. Interested participants must register online for access details. A replay will be available until May 22, 2021, via specific dial-in numbers. Fangdd operates one of China's largest online real estate marketplaces, with over 1.6 million registered agents as of December 31, 2020, emphasizing its innovative SaaS solutions.

Fangdd Network Group Ltd. (NASDAQ: DUO) filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC on March 31, 2021. The report is accessible on the Company’s investor relations website. Fangdd operates one of China's largest online real estate marketplaces, leveraging mobile internet, cloud, and big data to transform real estate transactions. By year-end 2020, Fangdd had over 1.6 million registered agents, showcasing its market presence and technological innovation.

Fangdd Network Group Ltd. (NASDAQ: DUO) reported its Q4 and full year 2020 financial results, revealing a 40.6% decline in quarterly revenue to RMB622.4 million (US$95.4 million) and a 31.9% drop for the year to RMB2,451.3 million (US$375.7 million). However, the net loss narrowed to RMB92.8 million (US$14.2 million) in Q4, down from RMB691.0 million in Q4 2019. Active agents increased 30.2% year-over-year, reaching 577.2 thousand, while the company anticipates Q1 2021 revenue between RMB270 million and RMB290 million.