Shenzhen, China-based Fangdd Network Group Ltd. (Nasdaq: DUO) received a Nasdaq notification on December 24, 2024, stating non-compliance with the minimum bid price requirement (Nasdaq Listing Rule 5550(a)(2)). The company’s Class A ordinary shares closed below US$1 for 30 consecutive business days (November 11 to December 23, 2024).

According to Nasdaq Listing Rule 5810(c)(3)(A), Fangdd has until June 23, 2025, to achieve compliance. Compliance is regained if the closing bid price reaches or exceeds US$1 for ten consecutive business days within this 180-day period. Failure to regain compliance may allow for a 180-day extension, provided Fangdd meets all other Nasdaq Capital Market listing standards (excluding the bid price requirement) and notifies Nasdaq of its intention to rectify the deficiency.

This notification doesn’t currently affect the listing or trading of Fangdd’s Class A ordinary shares. The company is monitoring the bid price and exploring options to resolve the non-compliance.

This announcement adheres to Nasdaq Listing Rule 5810(b), mandating prompt disclosure of deficiency notifications.

About FangDD

Fangdd Network Group Ltd. (Nasdaq: DUO) is a Chinese property technology company specializing in digital real estate transaction services. Leveraging mobile internet, cloud computing, big data, and AI, Fangdd offers SaaS-powered products and solutions transforming real estate transactions. For details, visit http://ir.fangdd.com.

Safe Harbor Statement

This announcement includes forward-looking statements under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements, often using terms like “aim,” “anticipate,” “believe,” “estimate,” “expect,” and similar phrases, are not historical facts and involve inherent risks and uncertainties. Actual results may differ materially. All information is current as of the date of this release, and the company is not obligated to update forward-looking statements unless legally required.

Investor Relations Contact

Ms. Linda Li
Director, Capital Markets Department
Phone: +86-0755-2699-8968
E-mail: ir@fangdd.com