FangDDMs. Morningstar does not cover competitors or peers for this firm. +44 (0) 203 8794 460 | Linda LiDirector, Capital Markets DepartmentPhone: +86-0755-2699-8968E-mail: ir@fangdd.com, ICR, LLCRobin YangPhone: +1(646) 308-1649E-mail: FangDD@icrinc.com, UPDATE 1-MOVES-Top Barclays software banker to join Centerview - sources, Asian Stocks Edge Down as Wall Street Rally Pauses: Markets Wrap, Redox to Price Top Australia IPO of Year at $266 Million, Global Carbon Markets Face Upheaval as Nations Remake theRules, Oil Dips as Optimism Over Saudi-Led Production Cut Fades Fast. Each ADS currently represents 375 ClassA ordinary shares of the Company. Copyright 2023 Morningstar, Inc. All rights reserved. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The Company will provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and holders of American depositary shares upon request. FangDDs plan to attract new and retain existing real estate agents, expand property listings, develop new products and increase service offerings might not be carried out as expected. Its often used to measure a companys size. April 20, 2023 07:30 ET DUO Stock Price & Charts | Fangdd Network Group Annual Reports | Fangdd Network Group Ltd Non-GAAP net loss was RMB222.9 million (US$32.3 million) in 2022, compared to non-GAAP net loss of RMB1,155.9 million in 2021. Fangdd Network Group Ltd To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Fangdd Network Group (NASDAQ:DUO) Trading Down 2.8% Share-based compensation expenses have been and will continue to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Companys results. These non-GAAP financial measures should be considered in addition to financial measures prepared under U.S. GAAP, but should not be considered a substitute for, or superior to, financial measures prepared under U.S. GAAP. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. This announcement contains forward-looking statements. The company traded as low as $0.68 and last traded at $0.70. Of the approximately 2.0 million real estate agents in China, more than 1.6 million were on its platform as of December 31, 2020. support@advfn.com, Net loss/(gain) attributable to minority shareholders, Foreign currency translation adjustment, net of nil income taxes, Total comprehensive loss/(gain) attributable to minority shareholders, Weighted average number of ordinary shares used in computing net loss per share, basic and diluted. The decrease was attributable to the decreases in personnel-related expenses following the Companys decision to significantly cut investments in research and development for resale property business. The Company compensates for these limitations by reconciling these non-GAAP financial measures to the most directly comparable U.S. GAAP measures, which should be considered when evaluating the Companys performance. Approximately 37,991 shares traded hands . Gross margin in 2022 decreased to 10.1% from 11.3% in 2021.The decrease was mainly because: i) we strategically adjusted our resale property and new property business scale to cease business cooperation with high credit risk developers to avoid further losses due to continuous downturn of real estate transactions market, which resulted in a significant decrease of the gross profit, and ii) the development of other value added services offered to various platform participants with higher gross profit margins has not yet reached a scale, so its contribution to our gross profit is currently limited. Non-GAAP net loss in 2022 was RMB222.9 million (US$32.3 million), compared to non-GAAP net loss of RMB1,155.9 million in 2021. The Company will also provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. FangDD Announces Pricing of Initial Public Offering | Nasdaq 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. | Source: Fangdd Network Group Ltd. (Nasdaq: DUO) is a customer-oriented PropTech company in China, operating on the marketplace focusing on online real estate transactions and related services. Copyright West LLC. 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. The general economic and business conditions in China may deteriorate. For more information, please visit http://ir.fangdd.com. Fangdd Network Group Ltd is an investment holding company. The Company makes no representation that the Renminbi or U.S. dollar amounts referred could be converted into U.S. dollar or Renminbi, as the case may be, at any particular rate or at all. The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting: Morgan Stanley & Co. LLCAttention: Prospectus Department180 Varick Street, 2nd FloorNew York, NY 10014Phone: +1-866-718-1649, UBS Securities LLC Attention: Prospectus Department1285 Avenue of the AmericasNew York, New York 10019Phone: +1-888-827-7275 Email: ol-prospectus-request@ubs.com, China International Capital Corporation Hong Kong Securities Limited29th FloorOne International Finance Centre1 Harbour View Street, Central, Hong KongEmail: g_prospectus@cicc.com.cn, AMTD Global Markets Limited23/F-25/FNexxus Building41 Connaught Road CentralHong KongPhone: +852-3163-3288Email: project.homerun@amtdglobalmarkets.com. Through innovative use of mobile internet, cloud and big data, FangDD has fundamentally revolutionized the way real estate agents conduct business through a suite of modular products and services powered by technology. FangDDMs. These statements are made under the safe harbor provisions of the U.S. Gear advertisements and other marketing efforts towards your interests. peer companies that do receive analyst-driven ratings. FangDD operates Chinas largest online real estate marketplace as measured by the number of registered agents on its marketplace as of December 31, 2018. Fangdd Network Group Ltd is an investment holding company. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. The decrease was primarily due to the optimization of the sales department composition, the reduced spending on marketing activities related to new property transaction services, and reduced scale of the resale property transactions. The number of active agents in the Companys marketplace was 143.7 thousand in 2022, representing a decrease of 62.0% from 378.0 thousand in 2021. Fangdd Network Group Ltd. was up 5.70% after hours $DUO. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique access PIN, which can be used to join the conference call. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The decrease was primarily due to the significant drop in revenue for both new property and resale property transaction services, which resulted in a decrease in the commission fees payable to agents for their services rendered. 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. DUO does not currently have a forward dividend yield. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. Fangdd Network Group Ltd is an investment holding company. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Investor Relations Fangdd Network Group Ltd ADR DUO Ownership Morningstar Rating | Rating as of Apr 3, 2023 Quote Chart Stock Analysis News Price vs Fair Value . Net loss for the three months ended December 31, 2022 decreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021. Through its subsidiaries, It is engaged in the provision of real estate information services through its online platform which also offers integrated marketing services for individual customers, real estate developers, and agents in China. Through innovative use of mobile internet, cloud and big data, FangDD has fundamentally revolutionized the way real estate agents conduct business through a suite of modular products and services powered by SaaS tools, productions and technology. Fangdd Network Group Ltd. (Nasdaq: DUO) is a leading property technology company in China, operating one of the largest online real estate marketplaces in the country. Provide specific products and services to you, such as portfolio management or data aggregation. Ms. Linda LiDirector, Capital Markets DepartmentPhone: +86-0755-2699-8968E-mail: ir@fangdd.com. Morgan Stanley & Co. LLC, UBS Securities LLC, China International Capital Corporation Hong Kong Securities Limited, and AMTD Global Markets Limited are acting as joint book runners for the offering. 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. Gross profit for the three months ended December 31, 2022 increased to RMB10.0 million (US$1.5 million) from RMB4.7 million for the same period of 2021. against its industry peers and the overall market. The annual report can be accessed on the Companys website at http://ir.fangdd.com. Details for the conference call are as follows: Fangdd Network Group Ltd Third Quarter 2021 Earnings Conference Call, http://apac.directeventreg.com/registration/event/6464869. This site is protected by reCAPTCHA and the Google Create your Watchlist to save your favorite quotes on Nasdaq.com. Type a symbol or company name. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. Investor Relations Contact:FangDDMs. Do Not Sell My Personal Information (CA Residents Only). Verify your identity, personalize the content you receive, or create and administer your account. FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial For more information, please visit http://ir.fangdd.com. Cost of revenue in 2022 decreased by 73.5% to RMB221.2 million (US$32.1 million) from RMB835.9 million in 2021. USD | Privacy Policy and 2023, Nasdaq, Inc. All Rights Reserved. Provide specific products and services to you, such as portfolio management or data aggregation. For more information, please visit http://ir.fangdd.com. Of the approximately 2.0 million real estate agents in China, more than 911,000 were on its platform as of December 31, 2018, representing a penetration rate of over 45%. Forward-looking statements involve inherent risks and uncertainties. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. The Company plans to strengthen cooperation with high-quality developers and carry out new projects with caution. FangDD Filed 2020 Annual Report on Form 20-F | Nasdaq Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. General and administrative expenses for the three months ended December 31, 2022 decreased to RMB53.0 million (US$7.7 million) from RMB371.1 million for the same period of 2021. LSE company dividends information has been updated. Morningstar Quantitative ratings for equities (denoted on this page by) are generated using an algorithm that compares companies that are not under analyst coverage to This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Fangdd Network Group Ltd ADR DUO Stock Quote - Morningstar The Company believes these non-GAAP financial measures are important to help investors understand the Companys operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Companys core operating results, as they exclude certain expenses that are not expected to result in cash payments. Each ADS currently represents 375 Class A ordinary shares of the Company. Linda LiDirector, Capital Markets DepartmentPhone: +86-0755-2699-8968E-mail:ir@fangdd.com. The decrease was mainly due to: i) the decrease in provision of impairment of certain assets, such as accounts receivable due from developers, other accounts receivable of project deposits and short-term investments, and ii) the actions that the Company has taken to improve operating efficiency, including the action to reduce redundant positions, due to the expected continuation of the current market condition in the foreseeable future. Linda LiDirector, Capital Markets DepartmentPhone: +86-0755-2699-8968E-mail: ir@fangdd.com, ICR, Inc.Jack WangPhone: +1(646) 308-1649E-mail: FangDD@icrinc.com. SHENZHEN,China, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (FangDD or the Company),a leading property technology company in China, today announced that it has priced its initial public offering of 6,000,000 American Depositary Shares (ADSs), each representing 25 Class A ordinary shares, at US$13.00 per ADS for a total offering size of approximately US$78,000,000, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Fangdd Network Group Ltd ADR DUO Ownership - Morningstar Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. FangDDMs. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique access PIN, which can be used to join the conference call. Revenue in 2022 decreased by 73.9% to RMB245.9 million (US$35.7 million) from RMB942.4 million in 2021. You can find this is in the menu on any Quote page. 01 Jun 2023 04:49:20 NASDAQ | Fangdd Network Group Ltd Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Read our editorial policy to learn more about our process. A stocks beta measures how closely tied its price movements have been to the performance of the overall market. Type a symbol or company name. Wed like to share more about how we work and what drives our day-to-day business. On March 2, 2023, the Company entered into securities purchase agreements with several investors, pursuant to which the Company agreed to sell and issue an aggregate of 1,000,000 ADSs to such investors at a purchase price of US$0.6208 per ADS in a registered direct offering. Dividend yield allows investors, particularly those interested in dividend-paying stocks, Through its subsidiaries, It is engaged in the provision of real estate information services through its online platform which also offers integrated marketing services for individual customers, real estate developers, and agents in China. These products and services are usually sold through license agreements or subscriptions. DUOs historical performance The underwriters have been granted an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 900,000 additional ADSs atthe initial public offering price less the underwriting discounts and commissions. Cost of revenue for the three months ended December 31, 2022 decreased by 34.4% to RMB49.9 million (US$7.2 million) from RMB76.0 million for the same period of 2021. FangDD Reports Fourth Quarter and Full Year 2022 Unaudited - ADVFN The decrease was mainly due to the decrease in total closed-loop GMV facilitated on the Companys platform by 72.6% to RMB22.5 billion (US$3.3 billion) from RMB82.2 billion in 2021, which in turn resulted from i) the continued property market downturn and the Companys actions to cease business cooperation with high credit risk developers to avoid further losses caused by developer credit risk, ii) the resurgence of COVID-19 outbreaks in China, which significantly affected the Companys business development, and iii) the measures that the Company has taken to reduce its business scale of new property and resale property transaction service business to minimize its exposure to the systematic risk of real estate industry in the continued downturn. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. Read our editorial policy to learn more about our process. Competition in China may intensify further. Fangdd Network Group Full Year 2022 Earnings: CN44.03 loss per share (vs CN217 loss in FY 2021) Fangdd Network Group ( NASDAQ:DUO ) Full Year 2022 Results Key Financial Results. In 2022, the Company continued to control risks and losses to survive the market downturn. This announcement contains forward-looking statements. Through its subsidiaries, It is engaged in the provision of real estate information services through its online platform which also offers integrated marketing services for individual customers, real estate developers, and agents in China. Using the above non-GAAP financial measures has certain limitations. Type a symbol or company name. Wed like to share more about how we work and what drives our day-to-day business. FangDD to Announce Third Quarter 2021 Financial Results on November 19 SHENZHEN, China, April 01, 2021 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) ("FangDD" or "the Company"), a leading property technology company in China, today announced.
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