FangDD Files 2025 Annual Report on Form 20-F

Rhea-AI Summary

Fangdd Network Group (NASDAQ: DUO) filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission on May 6, 2026.

The annual report, including audited consolidated financial statements, is available online and hard copies are available free to shareholders upon request.

News Market Reaction – DUO

-1.88%

1 alert

-1.88% Session close to close

$60.52M Market Cap

0.0x Rel. Volume

In the May 6 session, DUO declined 1.88%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement centers on FangDD’s filing of its Form 20-F for 2025, making detailed financial an...

Analysis

This announcement centers on FangDD’s filing of its Form 20-F for 2025, making detailed financial and risk disclosures available. The report shows revenue of RMB354.8 million, a net loss of RMB86.0 million, and an accumulated deficit of RMB4,703.3 million, alongside going concern uncertainty and China regulatory risks tied to its VIE structure. Investors may watch future filings and cash metrics, including the reported RMB29.3 million in cash, for signs of balance sheet and operational progress.

Key Figures

Revenue: RMB354.8 million Net loss: RMB86.0 million Accumulated deficit: RMB4,703.3 million +5 more

8 metrics

Revenue RMB354.8 million Fiscal year 2025 (Form 20-F)

Net loss RMB86.0 million Fiscal year 2025 (Form 20-F)

Accumulated deficit RMB4,703.3 million As of December 31, 2025

Cash and equivalents RMB29.3 million As of December 31, 2025

Class A shares 38,529,284 shares Outstanding as of December 31, 2025

Convertible note principal US$34,320,000 Converted into Class A shares (Form 6-K, 2025-12-29)

Shares from conversion 32,971,466 Class A shares Issued upon note conversion (Form 6-K, 2025-12-29)

Conversion price US$1.0409 per share Convertible note conversion (Form 6-K, 2025-12-29)

Key Terms

form 20-f, u.s. securities and exchange commission, variable interest entity, vie, +3 more

7 terms

form 20-f regulatory

"announced that it has filed its annual report on Form 20-F for the fiscal year"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

u.s. securities and exchange commission regulatory

"for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

variable interest entity regulatory

"operations are conducted through PRC subsidiaries and a variable interest entity, whose results"

A variable interest entity (VIE) is a company structure where one party controls another company’s operations and economic outcomes through contracts or special arrangements instead of owning a majority of its voting shares. For investors, VIEs matter because the controlling party’s financial results, debts and risks can appear in the controller’s reports even though ownership looks separate, so understanding VIEs helps assess true exposure, governance limits and transparency—like spotting a puppet controlled by strings rather than direct ownership.

vie regulatory

"possible non-enforceability of VIE contracts."

To vie means to compete with others for a limited prize, such as contracts, customers, market share or an acquisition target. Investors pay attention because competition can change a company’s costs, pricing power and growth prospects—like bidders pushing prices higher at an auction, firms that actively vie can drive up spending or valuations and signal how likely they are to gain or lose market advantage.

convertible promissory note financial

"an investor has converted a convertible promissory note with a principal amount"

A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.

share subscription agreement financial

"includes a Form of Convertible Note Purchase Agreement, a Share Subscription Agreement dated"

A share subscription agreement is a written contract in which an investor agrees to buy a specific number of a company's shares at an agreed price and under stated conditions. It matters to investors because it spells out who pays what, when shares are issued, and any protections or obligations for both sides—like a detailed purchase order that clarifies ownership, timing and potential dilution risk so investors know exactly how their stake will be created and protected.

form 6-k regulatory

"Fangdd Network Group Ltd. (DUO) filed a Form 6-K furnishing transaction exhibits"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

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SHENZHEN, China, May 06, 2026 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or the “Company”), a customer-oriented property technology company in China, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission on May 6, 2026. The annual report can be accessed on the Company’s website at http://ir.fangdd.com. The Company will provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders upon request.

About FangDD

Fangdd Network Group Ltd. (Nasdaq: DUO) is a customer-oriented property technology company in China, focusing on providing real estate transaction digitalization services. Through innovative use of mobile internet, cloud, big data, artificial intelligence, among others, FangDD has fundamentally revolutionized the way real estate transaction participants conduct their business through a suite of modular products and solutions powered by SaaS tools, products and technology. For more information, please visit http://ir.fangdd.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Ms. Linda Li
Director, Capital Markets Department
Phone: +86-0755-2699-8968
E-mail: ir@fangdd.com

FAQ

Has Fangdd (NASDAQ: DUO) filed its 2025 annual report and where can investors access it?

Yes. According to Fangdd, the company filed its Form 20-F for fiscal year 2025 on May 6, 2026. The report is available on the company's investor website at http://ir.fangdd.com and shareholders can request a free hard copy of the audited consolidated financial statements.

What does the Form 20-F filing mean for DUO shareholders and what does it contain?

Filing a Form 20-F provides the company's audited annual information to investors. According to Fangdd, the filing includes audited consolidated financial statements for the year ended December 31, 2025 and other required disclosures for U.S. SEC reporting purposes.

Can DUO shareholders request a physical copy of the 2025 annual report and is it free?

Yes. According to Fangdd, shareholders may request a hard copy of the annual report containing audited consolidated financial statements. The company states the hard copy will be provided free of charge to shareholders who request it.

When is the fiscal year covered by Fangdd's 2025 Form 20-F filing for DUO?

The Form 20-F covers the fiscal year ended December 31, 2025. According to Fangdd, the company filed that annual report with the U.S. SEC on May 6, 2026 and made the report available via its investor relations website.