FangDD Regains Compliance with Nasdaq Minimum Bid Price Requirement
11 Octubre 2024 - 7:00AM
Fangdd Network Group Ltd. (“FangDD” or the “Company”) (Nasdaq: DUO)
today announced that the Company received a notification letter
(the “Compliance Notice”) from the Nasdaq Stock Market LLC
(“Nasdaq”), dated October 10, 2024, indicating that the Company
regained compliance with the minimum bid price requirement set
forth under the Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid
Price Requirement”).
As previously announced, the Company was
notified by Nasdaq on December 13, 2023 that the Company was not in
compliance with the Minimum Bid Price Requirement as the bid price
of the Company’s American depositary shares (“ADSs”) previously
representing the Company’s Class A ordinary shares closed below
US$1.00 per share for 30 consecutive business days. In its
Compliance Notice, Nasdaq has confirmed that for the ten
consecutive business days, from September 26 through October 9,
2024, the closing bid price of the Company’s Class A ordinary
shares has been at $1.00 per share or greater. Accordingly, the
Company has regained compliance with the Nasdaq Listing Rule
5550(a)(2), and the matter is closed.
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a
customer-oriented property technology company in China, focusing on
providing real estate transaction digitalization services. 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.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “aim,” “anticipate,” “believe,” “estimate,”
“expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,”
“project,” “potential,” “seek,” “may,” “might,” “can,” “could,”
“will,” “would,” “shall,” “should,” “is likely to” and the negative
form of these words and other similar expressions. Among other
things, statements that are not historical facts, including
statements about the Company’s beliefs and expectations 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. All information provided in this
press release is as of the date of this press release and is based
on assumptions that the Company believes to be reasonable as of
this date, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
Ms. Linda LiDirector, Capital Markets DepartmentPhone:
+86-0755-2699-8968E-mail: ir@fangdd.com
FangDD Network (NASDAQ:DUO)
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