DUO revenueFY2025CN¥354.82M
- FY YoY
- +4.6%
- 5Y CAGR
- -32.1%
DUO revenue was CN¥354.82M for fiscal 2025 (ended Dec 31, 2025), up 4.6% from fiscal 2024. Compound annual growth was -32.1% over 5 years. It rose in 5 of the last 8 fiscal years.
Fangdd Network Group Ltd. (DUO) financials
For fiscal 2025 (ended Dec 31, 2025), Fangdd Network Group Ltd. reported CN¥354.82M of revenue and -CN¥84.71M of net income. Figures are in CNY, the currency of its SEC filings.
- Revenue, FY2025
- CN¥354.82M
- Revenue growth, YoY
- +4.6%
- Net income, FY2025
- -CN¥84.71M
- Net margin
- -23.9%
- Free cash flow, FY2025
- -CN¥83.60M
- EPS, diluted, FY2025
- -CN¥12.96
- Cash
- CN¥29.33M
FY2017FY2025
FY2017FY2025
FY2017FY2025
DUO revenue and earnings growth
DUO net incomeFY2025-CN¥84.71M
DUO net income was -CN¥84.71M for fiscal 2025 (ended Dec 31, 2025), compared with CN¥30.83M in fiscal 2024.
DUO EPSFY2025-CN¥12.96
DUO diluted EPS was -CN¥12.96 for fiscal 2025 (ended Dec 31, 2025).
DUO free cash flowFY2025-CN¥83.60M
DUO free cash flow was -CN¥83.60M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥68.55M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥354.82M | CN¥339.10M | CN¥284.96M | CN¥245.95M | CN¥942.38M | CN¥2.45B | CN¥3.60B | CN¥2.28B | CN¥1.80B |
| Cost of revenue | CN¥291.23M | CN¥277.36M | CN¥243.76M | CN¥221.21M | CN¥835.87M | CN¥2.04B | CN¥2.84B | CN¥1.81B | CN¥1.42B |
| Gross profit | CN¥63.59M | CN¥61.75M | CN¥41.19M | CN¥24.73M | CN¥106.51M | CN¥414.47M | CN¥757.04M | CN¥476.63M | CN¥381.59M |
| Research and development | CN¥25.38M | CN¥24.77M | CN¥32.14M | CN¥65.97M | CN¥167.53M | CN¥301.40M | CN¥724.98M | CN¥202.88M | CN¥191.66M |
| Selling, general and admin | CN¥162.04M | CN¥152.55M | CN¥271.45M | CN¥194.96M | CN¥831.36M | CN¥301.06M | CN¥520.42M | CN¥145.28M | CN¥156.33M |
| Operating income | -CN¥133.30M | -CN¥125.66M | -CN¥265.17M | -CN¥249.39M | -CN¥957.29M | -CN¥226.02M | -CN¥536.76M | CN¥69.38M | -CN¥4.86M |
| Pre-tax income | -CN¥106.27M | CN¥20.65M | -CN¥94.99M | -CN¥232.10M | -CN¥1.19B | -CN¥206.71M | -CN¥506.62M | CN¥108.46M | CN¥3.02M |
| Income tax | -CN¥20.26M | -CN¥7.66M | -CN¥1.89M | CN¥7.49M | CN¥8.91M | CN¥14.66M | CN¥3.77M | CN¥4.43M | CN¥2.37M |
| Net income | -CN¥84.71M | CN¥30.83M | -CN¥91.75M | -CN¥244.04M | -CN¥1.17B | -CN¥220.29M | -CN¥510.39M | CN¥104.03M | CN¥649.0K |
| EPS, basic | -CN¥12.96 | CN¥45.25 | -CN¥357.66 | -CN¥10346.27 | -CN¥9.09 | -CN¥1.72 | -CN¥18.33 | -CN¥2.35 | -CN¥3.76 |
| EPS, diluted | -CN¥12.96 | CN¥45.25 | -CN¥357.66 | -CN¥10346.27 | -CN¥9.09 | -CN¥1.72 | -CN¥18.33 | -CN¥2.35 | -CN¥3.76 |
| Diluted shares | 6.5M | 681,396 | 256,539 | 23,587.213 | 129.1M | 127.2M | 69.4M | 60.4M | 60.4M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | CN¥29.33M | CN¥75.35M | CN¥121.73M | CN¥182.75M | CN¥516.24M | CN¥936.03M | CN¥1.33B | CN¥794.22M | CN¥1.26B |
| Short-term investments | CN¥114.87M | CN¥113.63M | CN¥15.31M | CN¥2.00M | CN¥6.15M | CN¥9.00M | CN¥11.50M | CN¥71.48M | - |
| Receivables | CN¥147.92M | CN¥196.04M | CN¥314.64M | CN¥471.00M | CN¥884.74M | CN¥2.25B | CN¥2.19B | CN¥1.35B | - |
| Inventory | CN¥5.02M | CN¥5.38M | CN¥12.50M | CN¥11.16M | - | - | - | - | - |
| Current assets | CN¥390.09M | CN¥548.62M | CN¥613.08M | CN¥858.89M | CN¥1.63B | CN¥3.48B | CN¥3.73B | CN¥2.43B | - |
| Goodwill | - | - | - | CN¥454.0K | - | CN¥31.19M | - | - | - |
| Total assets | CN¥788.26M | CN¥731.19M | CN¥769.90M | CN¥1.08B | CN¥1.91B | CN¥4.05B | CN¥4.37B | CN¥2.88B | - |
| Current liabilities | CN¥209.37M | CN¥326.58M | CN¥549.72M | CN¥949.72M | CN¥1.58B | CN¥2.56B | CN¥2.77B | CN¥1.99B | - |
| Short-term debt | - | - | - | CN¥72.50M | - | - | - | - | - |
| Total liabilities | CN¥209.37M | CN¥347.89M | CN¥578.40M | CN¥981.28M | CN¥1.61B | CN¥2.58B | CN¥2.78B | CN¥2.00B | - |
| Shareholders' equity | CN¥578.40M | CN¥386.34M | CN¥191.50M | CN¥95.39M | CN¥303.68M | CN¥1.47B | CN¥1.59B | -CN¥1.87B | - |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -CN¥60.19M | -CN¥60.37M | -CN¥186.12M | -CN¥126.98M | -CN¥60.62M | -CN¥325.00M | CN¥118.51M | CN¥129.48M | -CN¥674.43M |
| Capital expenditures | CN¥23.41M | CN¥8.18M | CN¥296.0K | CN¥194.0K | CN¥12.46M | CN¥10.25M | CN¥1.70M | CN¥8.44M | CN¥4.63M |
| Free cash flow | -CN¥83.60M | -CN¥68.55M | -CN¥186.41M | -CN¥127.18M | -CN¥73.08M | -CN¥335.24M | CN¥116.82M | CN¥121.04M | -CN¥679.05M |
| Investing cash flow | -CN¥42.94M | -CN¥145.98M | CN¥31.43M | -CN¥159.27M | -CN¥43.73M | CN¥5.85M | -CN¥151.81M | -CN¥349.86M | CN¥212.13M |
| Financing cash flow | CN¥47.94M | CN¥146.63M | CN¥119.83M | -CN¥58.65M | -CN¥307.13M | -CN¥46.56M | CN¥593.44M | -CN¥268.10M | CN¥663.10M |
| Stock-based compensation | - | CN¥18.0K | CN¥105.0K | CN¥16.72M | CN¥47.07M | - | - | - | - |
| Depreciation and amortization | CN¥10.38M | CN¥463.0K | CN¥697.0K | CN¥2.74M | CN¥7.70M | CN¥3.78M | CN¥4.84M | CN¥14.25M | CN¥30.44M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 4.6% | 19.0% | 15.9% | -73.9% | -61.6% | -31.9% | 57.7% | 26.9% | - |
| Net income growth, YoY | - | - | - | - | - | - | - | 15928.7% | - |
| Gross margin | 17.9% | 18.2% | 14.5% | 10.1% | 11.3% | 16.9% | 21.0% | 20.9% | 21.2% |
| Operating margin | -37.6% | -37.1% | -93.1% | -101.4% | -101.6% | -9.2% | -14.9% | 3.0% | -0.3% |
| Net margin | -23.9% | 9.1% | -32.2% | -99.2% | -124.3% | -9.0% | -14.2% | 4.6% | 0.0% |
| Free cash flow margin | -23.6% | -20.2% | -65.4% | -51.7% | -7.8% | -13.7% | 3.2% | 5.3% | -37.8% |
| Return on equity | -14.6% | 8.0% | -47.9% | -255.8% | -385.7% | -15.0% | -32.1% | - | - |
| Return on assets | -10.7% | 4.2% | -11.9% | -22.7% | -61.2% | -5.4% | -11.7% | 3.6% | - |
| Current ratio | 1.86 | 1.68 | 1.12 | 0.90 | 1.03 | 1.36 | 1.35 | 1.22 | - |
Source: XBRL data Fangdd Network Group Ltd. files with the SEC, latest filing dated May 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures and share counts are restated for stock splits the filings show: 3-for-47, first reported May 6, 2026.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
DUO peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| DUO | CN¥354.82M | +4.6% | -CN¥84.71M | -23.9% | $21.2M |
| CBRE | $45.01B | +14.8% | $1.38B | 3.1% | $39.82B |
| BEKE | CN¥94.58B | +1.2% | CN¥2.99B | 3.2% | $20.78B |
| JLL | $28.20B | +11.4% | $1.10B | 3.9% | $17.36B |
| INVH | $2.90B | +7.2% | $682.40M | 23.5% | $15.67B |
| CSGP | $3.67B | +20.2% | $179.00M | 4.9% | $12.57B |
| COMP | $12.61B | +89.8% | $133.50M | 1.1% | $8.17B |
| TRNO | $518.86M | +17.2% | $353.32M | 68.1% | $7.43B |
| FSV | $5.50B | +5.4% | $145.05M | 2.6% | $6.58B |
DUO FAQ
9 questionsWhat is DUO revenue?
Fangdd Network Group Ltd. (DUO) reported CN¥354.82M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 4.6% from the year before.Is DUO profitable?
No. Fangdd Network Group Ltd. reported a net loss of CN¥84.71M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does DUO have?
Fangdd Network Group Ltd. reported CN¥29.33M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is DUO revenue growing?
Fangdd Network Group Ltd.'s revenue changed +4.6% in fiscal 2025, to CN¥354.82M. Its compound annual growth rate was -32.1% over 5 years.What is DUO gross margin?
Fangdd Network Group Ltd.'s gross profit was CN¥63.59M on CN¥354.82M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 17.9%.What is DUO free cash flow?
Fangdd Network Group Ltd. generated -CN¥83.60M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -CN¥60.19M less capital expenditures.What is DUO earnings per share?
Diluted earnings per share were -CN¥12.96 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did DUO last report financial results?
The latest statements here come from Fangdd Network Group Ltd.'s 20-F filed on May 6, 2026, covering the period ended Dec 31, 2025.Where does this DUO financial data come from?
Quantisnow builds these statements from the structured XBRL data Fangdd Network Group Ltd. files with the SEC. It is provided for information only and is not investment advice.