Fangdd Network | 20-F: FY2024 Annual Report

The company achieved significant financial improvement in fiscal year 2024, with revenue increasing 19.0% YoY to RMB339.1M (US$46.5M). Base commission from transactions contributed RMB320.8M, representing 94.6% of total revenue, while innovation initiatives and value-added services generated RMB18.3M. The company successfully turned around from a net loss of RMB93.1M in 2023 to a net income of RMB28.3M in 2024, with earnings per share improving to RMB3.45.The company maintained a strong financial position with RMB75.4M in cash and cash equivalents and RMB113.6M in short-term investments as of December 31, 2024. Strategic acquisitions were completed during the year, including a 51% stake in Duobao Fishing and a 53% stake in Jiuzhou Fangyun, demonstrating the company's commitment to expansion.Post-period developments included a property acquisition for US$3.3M in January 2025 and two US$5M senior convertible note issuances in February and March 2025. The company continues to focus on property transaction digitalization and operational efficiency improvements, supported by strategic acquisitions and enhanced capital structure through convertible note issuances.

The company achieved significant financial improvement in fiscal year 2024, with revenue increasing 19.0% YoY to RMB339.1M (US$46.5M). Base commission from transactions contributed RMB320.8M, representing 94.6% of total revenue, while innovation initiatives and value-added services generated RMB18.3M. The company successfully turned around from a net loss of RMB93.1M in 2023 to a net income of RMB28.3M in 2024, with earnings per share improving to RMB3.45.The company maintained a strong financial position with RMB75.4M in cash and cash equivalents and RMB113.6M in short-term investments as of December 31, 2024. Strategic acquisitions were completed during the year, including a 51% stake in Duobao Fishing and a 53% stake in Jiuzhou Fangyun, demonstrating the company's commitment to expansion.Post-period developments included a property acquisition for US$3.3M in January 2025 and two US$5M senior convertible note issuances in February and March 2025. The company continues to focus on property transaction digitalization and operational efficiency improvements, supported by strategic acquisitions and enhanced capital structure through convertible note issuances.