{"id":740743,"date":"2023-03-16T09:05:04","date_gmt":"2023-03-16T13:05:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/"},"modified":"2023-03-16T09:05:04","modified_gmt":"2023-03-16T13:05:04","slug":"fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/","title":{"rendered":"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">SHENZHEN, China, March  16, 2023  (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or \u201cthe Company\u201d), a leading property technology company in China, today announced its unaudited financial results for the three months and the year ended December\u00a031, 2022.<\/p>\n<p>\n        <strong>Fourth Quarter 2022 Financial Highlights <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">Revenue for the three months ended December 31, 2022 decreased by 25.8% to RMB59.9 million (US$8.7 million) from RMB80.7 million for the same period of 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Net loss for the three months ended December 31, 2022 decreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Non-GAAP<sup>1<\/sup> net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss of RMB591.6 million for the same period of 2021.<\/li>\n<\/ul>\n<p>\n        <strong>Full Year 2022 Financial Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">Revenue in 2022 decreased by 73.9% to RMB245.9 million (US$35.7 million) from RMB942.4 million in 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Net loss in 2022 decreased by 80.1% to RMB239.6 million (US$34.7 million) from RMB1,203.0 million in 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Non-GAAP net loss was RMB222.9 million (US$32.3 million) in 2022, compared to non-GAAP net loss of RMB1,155.9 million in 2021.<\/li>\n<\/ul>\n<p>\n        <strong>Fourth Quarter 2022 Operating Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">The number of active agents<sup>2<\/sup> was 37.1\u00a0thousand for the three months ended December 31, 2022, representing a decrease of 49.2% from 73.0\u00a0thousand for the same period of 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Total closed-loop GMV<sup>3<\/sup>\u00a0facilitated on the Company\u2019s platform for the three months ended December 31, 2022 decreased by 55.5% to RMB3.4 billion (US$0.5 billion) from RMB7.5 billion for the same period of 2021.<\/li>\n<\/ul>\n<p>\n        <strong>Full Year 2022 Operating Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">The number of active agents in the Company\u2019s marketplace was 143.7 thousand in 2022, representing a decrease of 62.0% from 378.0 thousand in 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Total closed-loop GMV facilitated on the Company\u2019s platform in 2022 decreased by 72.6% to RMB22.5 billion (US$3.3 billion) from RMB82.2 billion in 2021.<\/li>\n<\/ul>\n<p align=\"justify\">Mr. Xi Zeng, Chairman and Chief Executive Officer of FangDD, commented, \u201cIn 2022, new property sales decreased by 26.7% year-over-year in China, which represents the largest decline on record, leading to the outbreak of real estate developer liquidity risk. In 2022, the Company continued to control risks and losses to survive the market downturn. Going forward, the Company will proactively shrink the transaction size on our marketplace for new property business and improve the account-receivable management to control the operation risk caused by developer credit risk outbreak. The Company plans to strengthen cooperation with high-quality developers and carry out new projects with caution. At the same time, the Company will continue to explore the second growth curve in combination with the Company\u2019s existing strengths and the industry\u2019s new trajectory.\u201d<\/p>\n<p>\n        <strong>Fourth Quarter 2022 Financial Results<\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <em>REVENUE<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p>Revenue for the three months ended December 31, 2022 decreased by 25.8% to RMB59.9 million (US$8.7 million) from RMB80.7 million for the same period of 2021.<\/p>\n<p>\n        <strong><br \/>\n          <em>COST OF REVENUE<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Cost of revenue for the three months ended December 31, 2022 decreased by 34.4% to RMB49.9 million (US$7.2 million) from RMB76.0 million for the same period of 2021.<\/p>\n<p>\n        <strong><br \/>\n          <em>GROSS PROFIT<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Gross profit for the three months ended December 31, 2022 increased to RMB10.0 million (US$1.5 million) from RMB4.7 million for the same period of 2021.<\/p>\n<p>\n        <strong><br \/>\n          <em>OPERATING EXPENSES<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Operating expenses for the three months ended December 31, 2022, which included share-based compensation expenses of RMB2.6 million (US$0.38 million), decreased by 83.4% to RMB66.7 million (US$9.7 million) from RMB402.0 million, which included share-based compensation expenses of RMB12.4 million, for the same period of 2021.<\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">Sales and marketing expenses for the three months ended December 31, 2022 decreased to RMB1.7 million (US$0.25 million) from RMB5.4 million for the same period of 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Product development expenses for the three months ended December 31, 2022 decreased to RMB12.0 million (US$1.7 million) from RMB25.5 million for the same period of 2021.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">General and administrative expenses for the three months ended December 31, 2022 decreased to RMB53.0 million (US$7.7 million) from RMB371.1 million for the same period of 2021.<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <em>NET LOSS<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Net loss for the three months ended December 31, 2022 decreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021.<\/p>\n<p align=\"justify\">Non-GAAP net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss of RMB591.6 million for the same period of 2021.<\/p>\n<p>\n        <strong><br \/>\n          <em>NET LOSS PER ADS<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Basic and diluted net loss per American depositary share (\u201cADS\u201d) for the three months ended December 31, 2022 were both RMB5.63 (US$0.82). In comparison, the Company\u2019s basic and diluted net loss attributable to ordinary shareholders per ADS for the same period of 2021 were both RMB110.25. Each ADS currently represents 375 Class\u00a0A ordinary shares of the Company.<\/p>\n<p>\n        <strong>Full Year 2022 Financial Results<\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <em>REVENUE <\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Revenue in 2022 decreased by 73.9% to RMB245.9 million (US$35.7 million) from RMB942.4 million in 2021. The decrease was mainly due to the decrease in total closed-loop GMV facilitated on the Company\u2019s platform by 72.6% to RMB22.5 billion (US$3.3 billion) from RMB82.2 billion in 2021, which in turn resulted from i) the continued property market downturn and the Company\u2019s actions to cease business cooperation with high credit risk developers to avoid further losses caused by developer credit risk, ii) the resurgence of COVID-19 outbreaks in China, which significantly affected the Company\u2019s business development, and iii) the measures that the Company has taken to reduce its business scale of new property and resale property transaction service business to minimize its exposure to the systematic risk of real estate industry in the continued downturn.<\/p>\n<p>\n        <strong><br \/>\n          <em>COST OF REVENUE<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Cost of revenue in 2022 decreased by 73.5% to RMB221.2 million (US$32.1 million) from RMB835.9 million in 2021. The decrease was primarily due to the significant drop in revenue for both new property and resale property transaction services, which resulted in a decrease in the commission fees payable to agents for their services rendered.<\/p>\n<p>\n        <strong><br \/>\n          <em>GROSS PROFIT AND GROSS MARGIN<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Gross profit in 2022 decreased by 76.8% to RMB24.7 million (US$3.6 million) from RMB106.5 million in 2021. Gross margin in 2022 decreased to 10.1% from 11.3% in 2021.The decrease was mainly because: i) we strategically adjusted our resale property and new property business scale to cease business cooperation with high credit risk developers to avoid further losses due to continuous downturn of real estate transactions market, which resulted in a significant decrease of the gross profit, and ii) the development of other value added services offered to various platform participants with higher gross profit margins has not yet reached a scale, so its contribution to our gross profit is currently limited.<\/p>\n<p>\n        <strong><br \/>\n          <em>OPERATING EXPENSES<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Operating expenses in 2022, which included share-based compensation expenses of RMB RMB16.7 million (US$2.4 million), decreased by 74.2% to RMB274.1 million (US$39.7 million) from RMB1,063.8 million, which included share-based compensation expenses of RMB47.1 million, in 2021. \u00a0\u00a0<\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:12pt;text-align:justify\">Sales and marketing expenses in 2022 decreased to RMB13.2 million (US$1.9 million) from RMB64.9 million in 2021. The decrease was primarily due to the optimization of the sales department composition, the reduced spending on marketing activities related to new property transaction services, and reduced scale of the resale property transactions.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Product development expenses in 2022 decreased to RMB66.0 million (US$9.6 million) from RMB167.5 million in 2021. The decrease was attributable to the decreases in personnel-related expenses following the Company\u2019s decision to significantly cut investments in research and development for resale property business.<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">General and administrative expenses in 2022 decreased to RMB195.0 million (US$28.3 million) from RMB831.4 million in 2021. The decrease was mainly due to: i) the decrease in provision of impairment of certain assets, such as accounts receivable due from developers, other accounts receivable of project deposits and short-term investments, and ii) the actions that the Company has taken to improve operating efficiency, including the action to reduce redundant positions, due to the expected continuation of the current market condition in the foreseeable future.\n<\/li>\n<\/ul>\n<p>\n        <strong><br \/>\n          <em>NET LOSS<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Net loss in 2022 was RMB239.6 million (US$34.7 million), compared to a net loss of RMB1203.0 million in 2021.<\/p>\n<p>Non-GAAP net loss in 2022 was RMB222.9 million (US$32.3 million), compared to non-GAAP net loss of RMB1,155.9 million in 2021.<\/p>\n<p>\n        <strong><br \/>\n          <em>NET LOSS PER ADS<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Basic and diluted net loss per ADS in 2022 were both RMB43.88 (US$6.36). In comparison, the Company\u2019s basic and diluted net loss attributable to ordinary shareholders per ADS in 2021 were both RMB217.13. Each ADS currently represents 375 Class A ordinary shares of the Company.<\/p>\n<p>\n        <strong>Liquidity <\/strong>\n      <\/p>\n<p align=\"justify\">As of December 31, 2022, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB184.7 million (US$26.8 million), short-term bank borrowings of RMB72.5 million (US$10.5 million), and unutilized bank facilities of RMB80.0 million (US$11.60 million). In 2022, net cash used in operating activities was RMB127.0 million (US$18.4 million).<\/p>\n<p>\n        <strong>Recent Development<\/strong>\n      <\/p>\n<p align=\"justify\">On March 2, 2023, the Company entered into securities purchase agreements with several investors, pursuant to which the Company agreed to sell and issue an aggregate of 1,000,000 ADSs to such investors at a purchase price of US$0.6208 per ADS in a registered direct offering. On March 3, 2023, 322,164 ADSs were issued to one investor at the first closing. The offering is subject to terms and conditions, among others, that the closings shall consummate on or before March 16, 2023. As the additional closings did not take place by such date, the Company and the investors have mutually agreed to terminate the agreements. The Company intends to use the net proceeds from this offering for general corporate purposes.<\/p>\n<p>\n        <strong>Exchange Rate<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB6.8972 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on December 30, 2022. The Company makes no representation that the Renminbi or U.S. dollar amounts referred could be converted into U.S. dollar or Renminbi, as the case may be, at any particular rate or at all.<\/p>\n<p>\n        <strong>Non-GAAP Financial Measures<\/strong>\n      <\/p>\n<p align=\"justify\">To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP, this press release presents non-GAAP income (loss) from operations, non-GAAP operating margin, non-GAAP net income (loss) and non-GAAP net margin by excluding share-based compensation expenses from income (loss) from operations and net income (loss). The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The Company believes these non-GAAP financial measures are important to help investors understand the Company\u2019s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company\u2019s core operating results, as they exclude certain expenses that are not expected to result in cash payments. Using the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Company\u2019s results. These non-GAAP financial measures should be considered in addition to financial measures prepared under U.S. GAAP, but should not be considered a substitute for, or superior to, financial measures prepared under U.S. GAAP. The Company compensates for these limitations by reconciling these non-GAAP financial measures to the most directly comparable U.S. GAAP measures, which should be considered when evaluating the Company\u2019s performance. Reconciliation of each of these non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure is set forth at the end of this release.<\/p>\n<p>\n        <strong>About FangDD<\/strong>\n      <\/p>\n<p align=\"justify\">Fangdd Network Group Ltd. (Nasdaq: DUO) is a leading property technology company in China, operating one of the largest online real estate marketplaces in the country. Through innovative use of mobile internet, cloud, big data, artificial intelligence, among others, FangDD has fundamentally revolutionized the way real estate transaction participants conduct their business through a suite of modular products and solutions powered by SaaS tools, products and technology. For more information, please visit http:\/\/ir.fangdd.com.<\/p>\n<p>\n        <strong>Safe Harbor Statement<\/strong>\n      <\/p>\n<p align=\"justify\">This announcement contains forward-looking statements. These statements are made under the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as \u201caim,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201chope,\u201d \u201cgoing forward,\u201d \u201cintend,\u201d \u201cought to,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201cseek,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cshall,\u201d \u201cshould,\u201d \u201cis likely to\u201d and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about FangDD\u2019s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as FangDD\u2019s strategic and operational plans, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following. The general economic and business conditions in China may deteriorate. The growth of Internet and mobile user population in China might not be as strong as expected. FangDD\u2019s plan to attract new and retain existing real estate agents, expand property listings, develop new products and increase service offerings might not be carried out as expected. FangDD might not be able to implement all of its strategic plans as expected. Competition in China may intensify further. All information provided in this press release is as of the date of this press release and are based on assumptions that the Company believes to be reasonable as of this date, and FangDD undertakes no obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p align=\"justify\">\n        <strong>Investor Relations Contact<\/strong>\n      <\/p>\n<p align=\"justify\">FangDD<br \/>Ms. Linda Li<br \/>Director, Capital Markets Department<br \/>Phone: +86-0755-2699-8968<br \/>E-mail:ir@fangdd.com<\/p>\n<p align=\"center\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"6\" style=\"max-width:67%;width:67%;min-width:67%;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Fangdd Network Group Ltd.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" style=\"max-width:67%;width:67%;min-width:67%;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>SELECTED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS DATA<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" style=\"max-width:67%;width:67%;min-width:67%;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(All amounts in thousands of Renminbi, except for share and per share data)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" style=\"max-width:67%;width:67%;min-width:67%;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:67%;width:67%;min-width:67%;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>As of December 31,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>As of December 31,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>2021 <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>2022 <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Assets<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Current assets<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Cash and cash equivalents<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">492,107<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">143,934<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Restricted cash<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">24,131<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">38,811<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Short-term investments<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">6,150<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,000<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Accounts receivable, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">884,740<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">470,997<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Prepayments and other current assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">220,171<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">191,996<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Inventory<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">11,157<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,627,299 <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>858,895 <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,912,983 <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,076,679 <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>LIABILITIES<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Current liabilities<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Short-term bank borrowings<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">134,780<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">72,500<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Accounts payable<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,175,943<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">659,215<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Customers\u2019 refundable fees<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">30,997<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">30,747<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Accrued expenses and other payables<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">238,198<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">181,140<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Income taxes payable<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">813<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">4,876<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Operating lease liabilities-current<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">1,243<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Total current liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,580,731 <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>949,721 <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,609,306 <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>981,285 <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong>Total Fangdd Network Group Ltd. shareholders&#8217; equity<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>313,259 <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>100,116 <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Non-controlling interests<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(9,582<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(4,722<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong>Total equity<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>303,677 <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>95,394 <\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong>Total liabilities and equity<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,912,983 <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>1,076,679 <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>Fangdd Network Group Ltd.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>SELECTED UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) DATA<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>(All amounts in thousands of Renminbi, except for share and per share data)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>For the Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>For the Fiscal Year Ended<\/strong><br \/>\n            <br \/>\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:49%;width:49%;min-width:49%;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>2021 <\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>2022 <\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>2021 <\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>2022 <\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Revenue<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">80,705<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">59,904<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">942,380<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">245,948<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Cost of revenues<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(76,000<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(49,888<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(835,873<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(221,213<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong> Gross profit<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>4,705 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>10,016 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>106,507 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>24,735 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong> Operating expenses:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Sales and marketing expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(5,351<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(1,726<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(64,914<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(13,195<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Product development expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(25,473<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(11,957<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(167,530<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(65,971<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">General and administrative expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(371,145<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(53,007<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(831,358<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(194,962<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong> Total operating expenses<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(401,969<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(66,690<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(1,063,802<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(274,128<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\n            <strong> Loss from operations<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(397,264<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(56,674<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(957,295<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(249,393<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong> Net loss<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(604,083<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(32,739<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(1,202,997<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(239,588<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Net loss\/(gain) attributable to minority shareholders<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>3,859 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>169 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>31,832 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(4,450<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong> Net loss attributable to ordinary shareholders<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(600,224<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(32,570<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(1,171,165<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(244,038<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong> Net loss<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(604,083<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(32,739<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(1,202,997<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(239,588<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong> Other comprehensive (loss) income <\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Foreign currency translation adjustment, net of nil income taxes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(5,283<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(8,353<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(7,926<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">11,036<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong> Total comprehensive loss, net of income taxes<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(609,366<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(41,092<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(1,210,923<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(228,552<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Total comprehensive loss\/(gain) attributable to minority shareholders<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>3,859 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>169 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>31,832 <\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(4,450<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong>Total comprehensive loss attributable to ordinary shareholders<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(605,507<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(40,923<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(1,179,091<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(233,002<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Net loss per share<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">&#8211; Basic<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.29<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.02<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.58<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.12<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">&#8211; Diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.29<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.02<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.58<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(0.12<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Net loss per ADS<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">&#8211; Basic<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(110.25<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(5.63<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(217.13<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(43.88<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">&#8211; Diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(110.25<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(5.63<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(217.13<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">(43.88<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">Weighted average number of ordinary shares used in computing net loss per share, basic and diluted<\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">&#8211; Basic<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,040,120,324<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,166,802,622<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,022,446,988<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,078,624,721<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">&#8211; Diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,040,120,324<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,166,802,622<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,022,446,988<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">2,078,624,721<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Reconciliation of GAAP and Non-GAAP Results<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>(All amounts in thousands of Renminbi, except for share and per share data)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>For the Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>For the Fiscal Year Ended<\/strong><br \/>\n            <br \/>\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:49%;width:49%;min-width:49%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>GAAP loss from operations<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(397,264<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(56,674<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(957,295<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(249,393<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Share-based compensation expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">12,447<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,642<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">47,066<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">16,724<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Non-GAAP loss from operations<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(384,817<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(54,032<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(910,229<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(232,669<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>GAAP net loss<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(604,083<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(32,739<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(1,202,997<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(239,588<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Share-based compensation expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">12,447<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,642<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">47,066<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">16,724<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Non-GAAP net income\/(loss)<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(591,636<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(30,097<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(1,155,931<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(222,864<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>GAAP operating margin<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(492.24<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(94.61<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(101.58<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(101.40<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Share-based compensation expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">15.42<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">4.41<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">4.99<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">6.80<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Non-GAAP operating margin<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(476.82<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(90.20<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(96.59<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(94.60<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>GAAP net margin<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(748.51<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(54.65<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(127.66<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(97.41<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Share-based compensation expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">15.42<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">4.41<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">4.99<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">6.80<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Non-GAAP net margin<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(733.08<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(50.24<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(122.66<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(90.61<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">%)<\/td>\n<\/tr>\n<\/table>\n<p>_______________________<\/p>\n<p align=\"justify\">1 Non-GAAP net loss is defined as net loss excluding share-based compensation expenses. For more information on these non-GAAP financial measures, please see the section captioned \u201cNon-GAAP Financial Measures\u201d and the tables captioned \u201cReconciliation of GAAP and Non-GAAP Results\u201d set forth at the end of this release.<br \/>2 \u201cActive agents\u201d refer to real estate agents who have visited our marketplace and used one or more of its functions within a period of time.<br \/>3 \u201cClosed-loop GMV\u201d refers to the GMV of closed-loop transactions facilitated in the Company\u2019s marketplace during the specified period. Closed-loop transactions refer to property transactions in which the major steps are completed or managed by real estate agents in the Company\u2019s marketplace.<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTg2NSM1NDY1NzQzIzIxODk3OTQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NjNlYWY2Y2ItYWI1MC00YWQyLWFkZjEtN2U0YTM4MmU5MWZjLTEyMDEzNDc=\/tiny\/Fangdd-Network-Group-Ltd.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHENZHEN, China, March 16, 2023 (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or \u201cthe Company\u201d), a leading property technology company in China, today announced its unaudited financial results for the three months and the year ended December\u00a031, 2022. Fourth Quarter 2022 Financial Highlights Revenue for the three months ended December 31, 2022 decreased by 25.8% to RMB59.9 million (US$8.7 million) from RMB80.7 million for the same period of 2021. Net loss for the three months ended December 31, 2022 decreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021. Non-GAAP1 net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-740743","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SHENZHEN, China, March 16, 2023 (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or \u201cthe Company\u201d), a leading property technology company in China, today announced its unaudited financial results for the three months and the year ended December\u00a031, 2022. Fourth Quarter 2022 Financial Highlights Revenue for the three months ended December 31, 2022 decreased by 25.8% to RMB59.9 million (US$8.7 million) from RMB80.7 million for the same period of 2021. Net loss for the three months ended December 31, 2022 decreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021. Non-GAAP1 net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss &hellip; Continue reading &quot;FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-16T13:05:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTg2NSM1NDY1NzQzIzIxODk3OTQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results\",\"datePublished\":\"2023-03-16T13:05:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\\\/\"},\"wordCount\":2629,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODc4OTg2NSM1NDY1NzQzIzIxODk3OTQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\\\/\",\"name\":\"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results - Market Newsdesk","og_description":"SHENZHEN, China, March 16, 2023 (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or \u201cthe Company\u201d), a leading property technology company in China, today announced its unaudited financial results for the three months and the year ended December\u00a031, 2022. Fourth Quarter 2022 Financial Highlights Revenue for the three months ended December 31, 2022 decreased by 25.8% to RMB59.9 million (US$8.7 million) from RMB80.7 million for the same period of 2021. Net loss for the three months ended December 31, 2022 decreased by 94.6% to RMB32.7 million (US$4.7 million) from RMB604.1 million for the same period of 2021. Non-GAAP1 net loss was RMB30.1 million (US$4.4 million) for the three months ended December 31, 2022, compared to non-GAAP net loss &hellip; Continue reading \"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-03-16T13:05:04+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTg2NSM1NDY1NzQzIzIxODk3OTQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results","datePublished":"2023-03-16T13:05:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/"},"wordCount":2629,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc4OTg2NSM1NDY1NzQzIzIxODk3OTQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-reports-fourth-quarter-and-full-year-2022-unaudited-financial-results\/","name":"FangDD Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results - 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