Fangdd(US:DUO) Globenewswireยท2025-08-29 12:30Core Viewpoint - Fangdd Network Group Ltd. reported a significant increase in revenue and closed-loop GMV for the first half of 2025, driven by supportive government policies and improved market conditions in China's real estate sector [1][3][4]. Financial Highlights - Revenue for the six months ended June 30, 2025, increased by 45.3% to RMB203.4 million (US$28.4 million) from RMB140.0 million for the same period in 2024 [4]. - Total closed-loop GMV facilitated on the Company's platform increased by 27.3% to RMB8.0 billion (US$1.1 billion) compared to RMB6.2 billion for the same period in 2024 [3]. Operating Highlights - The growth in closed-loop GMV was attributed to supportive government policies, improving market conditions, and the Company's focus on core projects and partnerships with reputable developers [3]. - The sales area of new property in China decreased by 3.5% year-over-year, while sales revenue dropped by 5.5% year-over-year, indicating a gradual stabilization in the market [3]. Cost and Profitability - Cost of revenue increased by 51.0% to RMB184.9 million (US$25.8 million) due to higher commission fees paid to agents [5]. - Gross profit increased by 5.7% to RMB18.5 million (US$2.6 million), but gross margin decreased to 9.1% from 12.5% due to lower contributions from higher-margin services [6]. Net Income and Loss - The Company reported a net loss of RMB39.2 million (US$5.5 million) for the first half of 2025, compared to a net income of RMB16.4 million for the same period in 2024 [9]. - Basic and diluted net loss per share were RMB12.7 (US$1.8) and RMB9.7 (US$1.4), respectively [10]. Liquidity - As of June 30, 2025, the Company had cash and cash equivalents, restricted cash, and short-term investments totaling RMB188.1 million (US$26.3 million) [11].