Fangdd Network Group

DUO

Real Estate - Services · Real Estate

Price

$0.55

-0.03 (-5.11%)

Market Cap

$4.4M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+1718.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 360K (2021) → 6.5M (2025)

Fangdd Network Group is a Chinese company that runs an online marketplace connecting real estate agents with home buyers and sellers in China. Its platform lets independent agents list properties, share listings with each other, and close deals — similar to how a digital real estate broker network works. The company serves tens of thousands of real estate agents across hundreds of Chinese cities.

Fangdd makes money by charging commissions and service fees when property transactions are completed through its platform. It operates entirely in China, where the real estate market is large but has faced serious pressure from a prolonged property downturn tied to developer debt crises and weak buyer demand. The company is small, with a market cap near zero, and its negative operating and return margins signal it is currently losing money. The biggest risk it faces is continued weakness in China's housing market, which directly reduces transaction volumes and the fees Fangdd can collect.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-24.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-581.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$25M/ year

→ Flat (-0% vs prior year)

7.2% of revenue

7.2x the sector average (1%)

Steady R&D investment year-over-year

Insider Activity

58.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 years

$275M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$275M cash & investments at current burn rate

Revenue declining

Fangdd Network Group's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

29.8%

Modest — 29.8% gross margin

Operating Margin

-40.6%

Losing money on operations — -40.6%

ROCE

-5.3%

Weak — -5.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+4.6%

Slow sales growth (4.6% YoY)

EPS YoY

-405.3%

Earnings shrinking (-405.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-23.8%

Burning cash (-23.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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