Welcome to our dedicated page for Fangdd Network Group Ltd. news (Ticker: DUO), a resource for investors and traders seeking the latest updates and insights on Fangdd Network Group Ltd. stock.
Fangdd Network Group Ltd. (Nasdaq: DUO) is a pioneering technology company in the Chinese real estate market. As the first residential online real estate company in China to offer a convergence service platform, Fangdd.com bridges the gap between real estate developers, agents, home buyers, and sellers through an efficient, reliable, and transparent platform.
Fangdd utilizes an Online-to-Offline (O2O) business model to facilitate seamless real estate transactions. The platform provides comprehensive real estate information services, integrated marketing solutions, and access to essential business resources for real estate agents. This includes property listings, customer connections, financial resources, and transaction data management through its SaaS-based tools.
Boasting partnerships with over 5,000 brokerage firms, which collectively manage around 500,000 agents, Fangdd.com also collaborates with prominent first-tier real estate developers such as Vanke, Greenland, Poly, China Overseas Land & Investment, and Longfor.
In recent years, Fangdd has shown significant financial growth. In 2013, its e-commerce platform was valued at $6.5 billion, with transaction values exceeding $8.16 billion in the first half of 2014, and an annual projection of over $32.7 billion for the same year. The company's ambitious launch of its O2O super platform in August 2014 marked a new era in real estate digitalization.
Fangdd continues to leverage cutting-edge technologies, including mobile internet, cloud computing, big data, and artificial intelligence, to revolutionize real estate transactions. Their continuous innovation and commitment to enhancing user experience make it a significant player in the real estate industry.
To stay updated with the latest developments and financial performance, please visit their investor relations page or contact Ms. Linda Li, Director of Capital Markets Department, at ir@fangdd.com.
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.
Fangdd Network Group Ltd. (NASDAQ: DUO) announced it will release its fourth quarter and full year 2020 financial results on March 26, 2021. The conference call will occur at 8:00 A.M. ET, where management will discuss the results. Participants must register in advance to receive the dial-in information. Fangdd operates a leading online real estate marketplace in China, utilizing advanced technology to improve real estate transactions. As of December 31, 2019, over 1.25 million agents were on its platform.
Fangdd Network Group Ltd. (NASDAQ: DUO) reported its Q3 2020 financial results, revealing a 13.6% decrease in revenue year-over-year to RMB819.1 million ($120.6 million). Net income fell significantly to RMB21.9 million ($3.2 million) compared to RMB80.3 million in Q3 2019. Active agents increased 22.0% to 276.6 thousand, and closed-loop GMV rose 9.4% to RMB55.9 billion ($8.2 billion). Despite revenue declines, the company improved gross margin to 23.5%. For Q4, Fangdd expects revenue between RMB600 million and RMB700 million.
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