Fangdd Network Group

DUO

Real Estate - Services · Real Estate

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

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.

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

Insider Activity

58.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~10 months

$275M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Fangdd Network Group has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

Profit per sale

Gross Margin

29.8%

Modest — 29.8% gross margin

Profit after running costs

Operating Margin

-40.6%

Losing money on operations — -40.6%

Return on the money invested

ROCE

-23.0%

Weak — -23.0% return on capital

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

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Growth

Sales growth

Sales YoY

+4.6%

Slow sales growth (+4.6% YoY)

Profit growth

EPS YoY

-405.3%

Earnings shrinking (-405.3% YoY)

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

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-41.8%

Burning cash (-41.8%)

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

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

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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