Fangdd12/29/2023 ![]() ![]() Revenue in 2022 decreased by 73.9% to RMB245.9 million (US$35.7 million) from RMB942.4 million in 2021. Each ADS currently represents 375 Class A ordinary shares of the Company. In comparison, the Company’s basic and diluted net loss attributable to ordinary shareholders per ADS for the same period of 2021 were both RMB110.25. Non-GAAP net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss of RMB591.6 million for the same period of 2021.īasic and diluted net loss per American depositary share (“ADS”) for the three months ended Decemwere both RMB5.63 (US$0.82). General and administrative expenses for the three months ended Decemdecreased to RMB53.0 million (US$7.7 million) from RMB371.1 million for the same period of 2021. Product development expenses for the three months ended Decemdecreased to RMB12.0 million (US$1.7 million) from RMB25.5 million for the same period of 2021. Sales and marketing expenses for the three months ended Decemdecreased to RMB1.7 million (US$0.25 million) from RMB5.4 million for the same period of 2021. Operating expenses for the three months ended December 31, 2022, which included share-based compensation expenses of RMB2.6 million (US$0.38 million), decreased by 83.4% to RMB66.7 million (US$9.7 million) from RMB402.0 million, which included share-based compensation expenses of RMB12.4 million, for the same period of 2021. Gross profit for the three months ended Decemincreased to RMB10.0 million (US$1.5 million) from RMB4.7 million for the same period of 2021. At the same time, the Company will continue to explore the second growth curve in combination with the Company’s existing strengths and the industry’s new trajectory.”Ĭost of revenue for the three months ended Decemdecreased by 34.4% to RMB49.9 million (US$7.2 million) from RMB76.0 million for the same period of 2021. The Company plans to strengthen cooperation with high-quality developers and carry out new projects with caution. Going forward, the Company will proactively shrink the transaction size on our marketplace for new property business and improve the account-receivable management to control the operation risk caused by developer credit risk outbreak. In 2022, the Company continued to control risks and losses to survive the market downturn. Xi Zeng, Chairman and Chief Executive Officer of FangDD, commented, “In 2022, new property sales decreased by 26.7% year-over-year in China, which represents the largest decline on record, leading to the outbreak of real estate developer liquidity risk. Total closed-loop GMV facilitated on the Company’s platform in 2022 decreased by 72.6% to RMB22.5 billion (US$3.3 billion) from RMB82.2 billion in 2021. The number of active agents in the Company’s marketplace was 143.7 thousand in 2022, representing a decrease of 62.0% from 378.0 thousand in 2021. Total closed-loop GMV 3 facilitated on the Company’s platform for the three months ended Decemdecreased by 55.5% to RMB3.4 billion (US$0.5 billion) from RMB7.5 billion for the same period of 2021. The number of active agents 2 was 37.1 thousand for the three months ended December 31, 2022, representing a decrease of 49.2% from 73.0 thousand for the same period of 2021. 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. Non-GAAP 1 net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss of RMB591.6 million for the same period of 2021. Net loss for the three months ended Decemdecreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021. Revenue for the three months ended Decemdecreased by 25.8% to RMB59.9 million (US$8.7 million) from RMB80.7 million for the same period of 2021. (NASDAQ: DUO) (“FangDD” or “the Company”), a leading property technology company in China, today announced its unaudited financial results for the three months and the year ended December 31, 2022. SHENZHEN, China, Ma(GLOBE NEWSWIRE) - Fangdd Network Group Ltd. ![]()
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