Discounted Cash Flow
Fangdd Network Group Ltd. Foreign
—
Audit / VIE / HFCA: Chinese ADR (VIE contractual structure, HFCA Act): the PCAOB must inspect the China-based auditor (e.g. Deloitte/EY China) or the ADRs can be delisted; dividends must be repatriated through the WFOE/VIE and can be blocked. The audit relies on contractual VIE control, not equity, adding structural risk.
Sourced live via DEF 14A beneficial_ownership (edgartools proxy) for US filers and 20-F risk_factors (“controls X% of voting power” + VIE/HFCA) for foreign ADRs — cached 12h. A concentrated holder can overrule the DCF’s minority-basis assumptions on dividends, issuance, and delisting.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2017 | $268.2m | $449.6k | $-100.7m | 0.2% | $-0.24 |
| 2018 | $340.3m (26.9%) | $16.2m (3497.3%) | $19.2m (119.1%) | 4.8% (2734.9%) | $-0.15 (37.5%) |
| 2019 | $536.7m (57.7%) | $-75.5m (-567.1%) | $17.6m (-8.2%) | -14.1% (-396.2%) | $-1.17 (-680.0%) |
| 2020 | $365.5m (-31.9%) | $162.1k (100.2%) | $-48.5m (-375.3%) | 0.0% (100.3%) | $-0.11 (90.6%) |
| 2021 | $140.5m (-61.6%) | $4.7m (2828.4%) | $-9.1m (81.3%) | 3.4% (7517.3%) | $-0.58 (-427.3%) |
| 2022 | $36.7m (-73.9%) | $-663.5k (-114.0%) | $-663.5k (92.7%) | -1.8% (-153.6%) | $-0.12 (79.3%) |
| 2023 | $42.5m (15.9%) | $201.4k (130.4%) | $-27.8m (-4088.6%) | 0.5% (126.2%) | $-0.00 (96.7%) |
| 2024 | $50.6m (19.0%) | $377.2k (87.3%) | $-9.0m (67.5%) | 0.7% (57.4%) | $3.45 (86350.0%) |
| 2025 | $52.9m (4.6%) | $-193.2k (-151.2%) | $-9.0m (0.5%) | -0.4% (-149.0%) | $-0.20 (-105.7%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.
Projected cash flows
| Year | Projected cash flow | Discount Factor | Present Value |
|---|
PV of projected FCF: —
Terminal FCF: —
Terminal value: —
PV of terminal value: —
Enterprise value (DCF): —
Net debt deduction: —
Current price: —
—Alternative DCF Models
| Model | Fair Value | Upside | PV(FCFs) | PV(Terminal) | Total Years |
|---|---|---|---|---|---|
| Standard (10yr→TV) | — | — | — | — | 10 + TV |
| Alt A (Gradual Decline) | — | — | — | — | — |
| Alt B (30yr Hard Stop) | — | — | — | N/A | — |
This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.