Fangdd Network Group Ltd. Stock Price, News & Analysis

On June 22, 2022, Fangdd Network Group Ltd. (Nasdaq: DUO) announced it regained compliance with Nasdaq's Minimum Bid Price Requirement, as its American depositary shares (ADSs) closed at $1.00 or greater for ten consecutive business days following a reverse stock split. Previously, the company was issued a non-compliance notification on January 4, 2022, when its ADSs traded below $1.00 for 30 consecutive days. This compliance revitalization closes the matter with Nasdaq, improving investor confidence and stabilizing the company's stock listing.

Fangdd Network Group Ltd. (NASDAQ: DUO) announced a change in the ratio of its American depositary shares (ADSs) from 1 ADS representing 25 Class A ordinary shares to 1 ADS representing 375 Class A ordinary shares. This change, effective June 7, 2022, equates to a one-for-fifteen reverse ADS split. The trading price on Nasdaq is expected to increase proportionally; however, the company does not guarantee that the new price will exceed fifteen times the old price. Fractional new ADSs will not be issued but will be aggregated for sale, with proceeds distributed to ADS holders.

Fangdd Network Group Ltd. (NASDAQ: DUO) announced the resignation of Mr. Yi Duan as Chairman and Co-CEO due to personal reasons, effective May 18, 2022. Mr. Duan remains a director. Mr. Xi Zeng, previously a director and Co-CEO, has been appointed Chairman and retains his CEO role. Zeng expressed gratitude for Duan's contributions and emphasized the company's commitment to navigating changing markets. Fangdd operates one of China's largest online real estate marketplaces, leveraging technology to revolutionize real estate transactions.

Fangdd Network Group Ltd. (NASDAQ: DUO) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 22, 2022. This report is accessible on the Company’s investor relations website, and shareholders can request a hard copy containing audited consolidated financial statements at no charge. Fangdd is recognized as a leading property technology firm in China, specializing in transforming real estate transactions through innovative digital solutions and SaaS technology.

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.