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DUO Financials Fangdd Network Group Ltd.

9 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings, in CNY as reported — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 21.7% per year over the past 5 years.

Financial health

  • Operating income covered interest expense -4300.0× in the latest year.
  • The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
-CN¥1B -CN¥114M CN¥942M CN¥0 2017 2018 2019 2020 2021 2022 2023 2024 2025
RevenueNet income
Margins (gross / operating / net)
-124% -53% 18% 0% 2017 2018 2019 2020 2021 2022 2023 2024 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-374% -183% 8% 0% 2017 2018 2019 2020 2021 2022 2023 2024 2025
ROEROA
Free cash flow (CFO − capex)
-CN¥186M -CN¥93M CN¥0 2017 2018 2019 2020 2021 2022 2023 2024 2025
Free cash flow
Cash vs total debt
CN¥0 CN¥552M CN¥1B 2017 2018 2019 2020 2021 2022 2023 2024 2025
CashTotal debt
Cash flow: operating / investing / financing
-CN¥674M -CN¥6M CN¥663M CN¥0 2017 2018 2019 2020 2021 2022 2023 2024 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 CN¥355M -CN¥85M 17.9% -37.6% -14.6% -10.7% -CN¥84M — CN¥29M
2024 CN¥339M CN¥31M 18.2% -37.1% 8.0% 4.2% -CN¥69M — CN¥75M
2023 CN¥285M -CN¥92M 14.5% -93.1% -46.8% -11.9% -CN¥186M — CN¥122M
2022 CN¥246M -CN¥244M 10.1% -101.4% -243.8% -22.7% — — CN¥144M
2021 CN¥942M -CN¥1.2B 11.3% -101.6% -373.9% -61.2% — — CN¥492M
2020 — -CN¥220M — — -15.3% -5.4% — — CN¥843M
2019 — -CN¥510M — — -32.1% -11.7% — — CN¥1.1B
2018 — CN¥104M — — -5.6% 3.6% — — CN¥444M
2017 — CN¥649000 — — — — — — —

Valuation over time

How the market has priced DUO against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 2.6 5.2 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 1.3 2.6 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S

Frequently asked questions

Is DUO growing its revenue and profit?

Over the past 5 years, Fangdd Network Group Ltd.'s revenue has declined 21.7% per year. These are computed facts, not advice.

How much debt does DUO have?

As of FY2025, Fangdd Network Group Ltd. reported — of total debt against CN¥29M of cash; operating income covered interest expense -4300.0×.

What is DUO's profit margin?

In FY2025, gross margin was 17.9%, operating margin -37.6%, and net margin -23.9%.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in CNY as reported (valuation multiples convert at the Federal Reserve H.10 rate of each date, via FRED) (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (annual and interim filings, reported in CNY) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · FX: Federal Reserve H.10 via FRED (DEXCHUS; 1 CNY = 0.1503 USD on 2026-10-30), the rate of each date for the valuation history · This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.