SHENZHEN, China, June 04, 2025 — Fangdd Network Group Ltd. (Nasdaq: DUO) (“FangDD” or the “Company”), a Chinese property technology firm focused on customer needs, announced today that its share consolidation (“Share Consolidation”) will take effect at 8:00 a.m. Eastern Time on June 9, 2025. This consolidation involves combining every 16 ordinary shares, each with a par value of US$0.0005625, into 1 ordinary share with a par value of US$0.009. The Company’s Class A ordinary shares will commence trading on Nasdaq on a post-split basis on June 9, 2025, under the existing ticker symbol “DUO,” with a new CUSIP number of G33147128.
Details of the Share Consolidation
The company’s board of directors approved the Share Consolidation, which aims to meet the minimum bid price requirement outlined in Nasdaq Listing Rule 5450(a)(1). Shareholders approved the Share Consolidation, along with resolutions to increase the authorized share capital and amend the memorandum and articles of association, at the Company’s extraordinary general meeting held on May 27, 2025. These resolutions became effective immediately after the Share Consolidation. Before the Share Consolidation, the Company had 62,472,674 issued and outstanding ordinary shares, which were reduced to 3,904,565 shares as a result.
Impact on Shareholders
With the exception of minor adjustments for fractional shares, the Share Consolidation will not change any shareholder’s percentage ownership in the Company.
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a customer-centric property technology company operating in China, specializing in the digitalization of real estate transactions. By leveraging mobile internet, cloud computing, big data, and artificial intelligence, FangDD has revolutionized the real estate transaction process through a suite of modular products and solutions powered by SaaS tools and technology. For more information, please visit http://ir.fangdd.com.
Safe Harbor Statement
This announcement includes forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terms like “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 similar expressions, including their negative forms. Forward-looking statements include statements that are not historical facts, such as statements about the Company’s beliefs and expectations. These statements involve inherent risks and uncertainties, and actual results may differ materially from those in any forward-looking statement due to various factors. All information in this press release is current as of the date of publication and is based on assumptions the Company believes are reasonable. The Company does not undertake any obligation to update these statements, except as required by law.
Investor Relations Contact
Ms. Linda Li
Director, Capital Markets Department
Phone: +86-0755-2699-8968
E-mail:
“`