Fangdd Network Group Ltd. Files 2023 Annual Report on Form 20-F

TL;DR

<b>Fangdd Network Group Ltd. has submitted its 2023 annual report on Form 20-F, detailing its financial status and share information.</b>

AI Summary

Fangdd Network Group Ltd. (DUO) filed a Foreign Annual Report (20-F) with the SEC on April 19, 2024. Fangdd Network Group Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The report details the company's financial performance and business operations. As of December 31, 2023, the company had 33,312,108,296 Class A ordinary shares issued and outstanding. The company's American depositary shares trade on The Nasdaq Global Market under the symbol DUO. The filing is made in accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking Fangdd Network Group Ltd., this filing contains several important signals. This filing provides investors with a comprehensive overview of Fangdd's financial health and operational activities for the past fiscal year, crucial for investment decisions. The disclosure of outstanding share numbers and trading information is essential for market participants to understand the company's capitalization and liquidity.

Risk Assessment

Risk Level: low — Fangdd Network Group Ltd. shows low risk based on this filing. The filing is a routine annual report, indicating no immediate or significant new risks or events requiring a higher risk assessment.

Analyst Insight

Review the detailed financial statements and business outlook within the 20-F filing to assess Fangdd's performance and future prospects.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the annual report.)
• 33,312,108,296 — Class A Ordinary Shares Outstanding (As of December 31, 2023.)
• 2024-04-19 — Filing Date (Date the 20-F was filed with the SEC.)

Key Players & Entities

• Fangdd Network Group Ltd. (company) — Filer of the 20-F annual report.
• DUO (company) — Trading symbol for Fangdd's American depositary shares on The Nasdaq Global Market.
• The Nasdaq Global Market (company) — Exchange where Fangdd's securities are listed.
• Xi Zeng (person) — Chief Executive Officer of Fangdd Network Group Ltd.
• US$0.0000001 (dollar_amount) — Par value per Class A ordinary share.

FAQ

Industry Context

Fangdd Network Group Ltd. operates in the real estate sector, providing services related to property transactions and management.

Regulatory Implications

The company is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements within the 20-F for revenue, profitability, and debt levels.
2. Review management's discussion and analysis (MD&A) for insights into business strategy and outlook.
3. Compare key financial metrics to previous periods and industry benchmarks.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-19: Filing Date — The date the annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the company's annual report for the fiscal year 2023, following its previous filings with the SEC.

Key Financial Figures

• $0.0000001 — 25 Class A ordinary shares, par value US$0.0000001 per share DUO The Nasdaq Global Market
• $ — ociated data are centrally hosted; "US$," "U.S. dollars," "$" or "dollars" refe
• $1 — were made at the rate of RMB7.0999 to US$1.00, the exchange rate in effect as of D

Filing Documents

• ea0202797-20f_fangdd.htm (20-F) — 3539KB
• ea020279701ex2-7_fangdd.htm (EX-2.7) — 148KB
• ea020279701ex8-1_fangdd.htm (EX-8.1) — 5KB
• ea020279701ex12-1_fangdd.htm (EX-12.1) — 10KB
• ea020279701ex12-2_fangdd.htm (EX-12.2) — 10KB
• ea020279701ex13-1_fangdd.htm (EX-13.1) — 4KB
• ea020279701ex13-2_fangdd.htm (EX-13.2) — 4KB
• ea020279701ex15-1_fangdd.htm (EX-15.1) — 3KB
• ea020279701ex15-2_fangdd.htm (EX-15.2) — 4KB
• ea020279701ex97-1_fangdd.htm (EX-97.1) — 37KB
• image_001.jpg (GRAPHIC) — 29KB
• image_002.jpg (GRAPHIC) — 31KB
• image_003.jpg (GRAPHIC) — 31KB
• 0001213900-24-034501.txt (&nbsp;) — 16494KB
• duo-20231231.xsd (EX-101.SCH) — 156KB
• duo-20231231_cal.xml (EX-101.CAL) — 82KB
• duo-20231231_def.xml (EX-101.DEF) — 610KB
• duo-20231231_lab.xml (EX-101.LAB) — 1118KB
• duo-20231231_pre.xml (EX-101.PRE) — 639KB
• ea0202797-20f_fangdd_htm.xml (XML) — 2709KB

SIGNATURES

SIGNATURES 143 i INTRODUCTION Conventions Used in this Annual Report In this annual report, unless otherwise indicated or the context otherwise requires: "active agents" refer to real estate agents who have visited our marketplace and used one or more of its functions within a period of time; "ADSs" refer to the American depositary shares, each of which represents 5,625 of our Class A ordinary shares and "ADRs" refer to the American depositary receipts that evidence our ADSs; "China" or "PRC" refers to the People's Republic of China, excluding, for the purpose of this annual report only, Taiwan, Hong Kong, and Macau; "Class A ordinary shares" refer to our class A ordinary shares, par value US$0.0000001 per share; "Class B ordinary shares" refer to our class B ordinary shares, par value US$0.0000001 per share; "Class C ordinary shares" refer to our class C ordinary shares, par value US$0.0000001 per share; "closed-loop GMV" refers to the GMV of closed-loop transactions facilitated in our marketplace during the specified period; "closed-loop transactions" refer to property transactions of which the major steps are completed or managed by real estate agents in our marketplace; "commission-based GMV" refers to the GMV of commission-based transactions facilitated in our marketplace during the specified period; "commission-based transactions" refer to property transactions from which we derive base commission revenue, which are currently comprised of new property transactions facilitated in our marketplace; "Fangdd Network," "variable interest entity" or "VIE" refers to Shenzhen Fangdd Network Technology Co., Ltd., a company incorporated in China in 2011; "GMV" refers to gross merchandise value, which is calculated as the total value of all transactions we facilitate on our marketplace, including the value of the new property sales and resale property transactions and the total rent of the rental property transactions; "new properties" refe

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe-harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Known and unknown risks, uncertainties and other factors, including those listed under "Item 3. Key Information—D. Risk Factors," may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify these forward-looking "estimate," "intend," "plan," "believe," "likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, but are not limited to, statements about: our mission and strategies; our future business development, financial condition and results of operations; expected changes in our revenues, costs or expenditures; our expectations regarding demand for and market acceptance of our services; competition in our industry; risks related to our corporate structure, in particular the VIE structure; government policies and regulations related to our industry; assumptions underlying or related to any of the foregoing. You should read this annual report and the documents that we refer to in this annual report and have filed as exhibits to this annual report completely and with the understanding that our actual future results may be materially different from what we expect. Other sections of this annual report include additional factors that could adversely impact our business and financia

View Full Filing

View this 20-F filing on SEC EDGAR