FangDD Reports First Half 2026 Unaudited Financial Results

SHENZHEN, China, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or “the Company”), a customer-oriented property technology company in China, today announced its unaudited financial results for the six months ended June 30, 2026.

First Half 2026 Financial Highlights * Revenue for the six months ended June 30, 2026 decreased by 43.1% to RMB115.7 million (US$17.1 million) from RMB203.4 million for the same period of 2025. * Net loss for the six months ended June 30, 2026 was RMB34.5 million (US$5.1 million), compared to net loss of RMB39.2 million for the same period of 2025. * Non-GAAP net loss(1) for the six months ended June 30, 2026 was RMB34.5 million (US$5.1 million), compared to non-GAAP net loss of RMB39.2 million for the same period of 2025. First Half 2026 Operating Highlights * Total closed-loop GMV(2) facilitated on the Company’s platform decreased by 30.8% to RMB5.5 billion (US$0.8 billion) for the six months ended June 30, 2026 from RMB8.0 billion for the same period of 2025. The decline of closed-loop GMV was primarily due to a fundamental shift in the supply-demand dynamics of China’s real estate market. The industry has transitioned from an era of expansion to one of consolidation, and the overall market size continues to shrink. Against this backdrop, the Company’s business has been significantly impacted. Mr. Xi Zeng, Chairman and Chief Executive Officer of FangDD, commented, "In the first half of 2026, China’s real estate market remained in a phase of deep adjustment and structural recovery. The industry as a whole exhibited marked regional divergence: market activity improved in first-tier cities and some core second-tier cities, but it will still take some time for the national real estate market to stabilize across the board. According to data from the National Bureau of Statistics, in the first half of 2026, the sales area and sales value of new commercial housing nationwide fell by 11.6% and 13.6% YoY, respectively. This indicates that the real estate market still faces downward pressure. Meanwhile, the inventory of unsold commercial housing has declined for four consecutive months. This indicates that despite ongoing weakness on the sales side, the inventory contraction points to a gradual recovery in demand and the emerging effectiveness of inventory-reduction policy. Against this backdrop, the Company’s core business has been periodically impacted, resulting in year-over-year declines in GMV and revenue. In response to industry changes, the Company has consistently prioritized both prudent operations and continuous innovation, actively exploring new business models and growth opportunities. We believe emerging technologies like artificial intelligence are accelerating the digital and intelligent transformation of the real estate industry. The Company will continue to deepen the integration of AI with its core businesses to enhance service quality and operational efficiency, while exploring new AI-driven business models."