Core Viewpoint - Fangdd Network Group Ltd. has announced a securities purchase agreement for the issuance of up to 3,125,000 Class A ordinary shares at a price of US$1.60 per share, aiming to close the offering around October 7, 2024, for general corporate purposes [1]. Group 1: Offering Details - The offering involves the sale of up to 3,125,000 Class A ordinary shares or pre-funded warrants at a price of US$1.60 per share [1]. - The offering is expected to close on or about October 7, 2024, subject to customary closing conditions [1]. - MM Global Securities, Inc. has been engaged as the exclusive placement agent for this offering [2]. Group 2: Regulatory Information - The securities will be offered under an effective "shelf" registration statement on Form F-3, previously filed with the SEC on September 13, 2022, and declared effective on September 29, 2022 [3]. - A written prospectus and prospectus supplement will be available, containing important information regarding the Class A ordinary shares and pre-funded warrants [3]. Group 3: Company Overview - Fangdd Network Group Ltd. is a property technology company in China, focusing on real estate transaction digitalization services [5]. - The company utilizes mobile internet, cloud, big data, and artificial intelligence to revolutionize real estate transactions through a suite of modular products and SaaS tools [5].

Core Viewpoint - Fangdd Network Group Ltd. has announced a securities purchase agreement for the issuance of 1,612,902 Class A ordinary shares at a price of US$1.55 per share, aiming to raise funds for general corporate purposes [1]. Group 1: Securities Offering - The offering is expected to close on or about October 2, 2024, subject to customary closing conditions [1]. - The company has engaged MM Global Securities, Inc. as its exclusive placement agent for this offering [2]. - The securities will be offered under an effective "shelf" registration statement previously filed with the SEC [3]. Group 2: Company Overview - Fangdd Network Group Ltd. is a property technology company in China, focusing on real estate transaction digitalization services [5]. - The company utilizes mobile internet, cloud, big data, and artificial intelligence to revolutionize real estate transactions through SaaS tools and solutions [5].

Exhibit 99.1 THE COMPANIES ACT (AS REVISED) OF THE CAYMAN ISLANDS COMPANY LIMITED BY SHARES SIXTH AMENDED AND RESTATED MEMORANDUM OF ASSOCIATION OF FANGDD NETWORK GROUP LTD. (Adopted by a Special Resolution passed on 11 July 2024 and effective on 12 August 2024) 1. The name of the Company is Fangdd Network Group Ltd. 2. The Registered Office of the Company will be situated at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands, or at such other location within ...

Exhibit 99.1 FANGDD NETWORK GROUP LTD. INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | CONTENTS | PAGE(S) | | --- | --- | | UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2023 AND JUNE 30, | | | 2024 | F-2 – F-3 | | UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE | | | INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND 2024 | F-4 | | UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY | ...

Core Viewpoint - Fangdd Network Group Ltd. is transitioning from American depositary receipts (ADSs) to listing its Class A ordinary shares on Nasdaq, which is part of its substitution listing plan [1][2][3] Group 1: Substitution Listing Plan - The company intends to terminate its existing ADS facility and list its Class A ordinary shares on Nasdaq under the symbol "DUO" [1] - VStock Transfer, LLC has been appointed as the U.S. transfer agent for the substitution listing [1] - The Bank of New York Mellon will facilitate a mandatory exchange of all ADSs into Class A ordinary shares [2] Group 2: Mandatory Exchange Details - The mandatory exchange is not expected to take effect on the initially scheduled date of September 4, 2024, as the company is working with DTC and Nasdaq to finalize the process [3] - ADS holders do not need to take any action, and there will be no fees charged by the Depositary for the mandatory exchange [3] - There is uncertainty regarding the timing of obtaining clearance from Nasdaq for the mandatory exchange and substitution listing [3] Group 3: Company Overview - Fangdd Network Group Ltd. is a property technology company in China, focusing on digitalizing real estate transactions [4] - The company utilizes mobile internet, cloud, big data, and artificial intelligence to revolutionize real estate transactions through SaaS tools and solutions [4]

Financial Performance - Revenue for the first half of 2024 decreased by 8.8% to RMB140.0 million (US$19.3 million) compared to RMB153.5 million in the same period of 2023 [2][5] - Net income for the first half of 2024 increased to RMB16.4 million (US$2.3 million) from RMB9.4 million in the same period of 2023 [2][11] - Gross profit decreased by 11.9% to RMB17.5 million (US$2.4 million) with a gross margin rate of 12.5%, down from 12.9% in the same period of 2023 [7] Operating Highlights - Total closed-loop GMV facilitated on the platform decreased by 24.9% to RMB6.2 billion (US$0.9 billion) due to the downturn in the real estate market and careful selection of new property projects [3] - Sales and marketing expenses decreased to RMB513 thousand (US$71 thousand) from RMB1.9 million due to optimized sales department structure and reduced marketing activities [9] - Product development expenses decreased to RMB12.0 million (US$1.6 million) from RMB17.7 million due to reduced personnel-related expenses and a conservative approach to R&D investments [10] Market and Industry Context - The total area of new property sales in China decreased by 19% year-on-year, and the total value of these sales decreased by 25% year-on-year in the first half of 2024 [4] - The real estate market is expected to stabilize in the second half of 2024 with policy support and a reduced high base effect, with annual sales remaining above 10 trillion yuan [4] Liquidity and Cash Flow - As of June 30, 2024, the company had cash and cash equivalents, restricted cash, and short-term investments of RMB154.2 million (US$21.2 million) [13] - Net cash used in operating activities for the first half of 2024 was RMB5.9 million (US$807.3 thousand) [13] Non-GAAP Financial Measures - Non-GAAP net income for the first half of 2024 was RMB16.4 million (US$2.3 million), the same as GAAP net income, as share-based compensation expenses were minimal [11][26] - Non-GAAP operating margin was (49.02)% compared to GAAP operating margin of (49.03)% [26]

SHENZHEN, China, June 24, 2024 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ:DUO) ("FangDD" or the "Company") today announced that it had entered into an agreement to purchase certain patents relating to cloud computer technology in China. The transaction is part of the Company's strategy to expand into technology-enabled real estate management as a supplement to its existing business. The purchase price for the patents is US$35,000,000. Additionally, the seller is entitled to receive an earnout pay ...

Core Points - Fangdd Network Group Ltd. intends to terminate its Deposit Agreement with The Bank of New York Mellon, leading to the expected termination of its American depositary receipts (ADR) facility on September 4, 2024 [1][2] - Following the termination, Fangdd plans to list its Class A ordinary shares on Nasdaq, replacing its ADSs, with the new trading symbol remaining "DUO" [2][3] - An extraordinary general meeting (EGM) will be held on July 11, 2024, to consider proposed resolutions related to the termination of the ADR facility [4][5] Company Overview - Fangdd Network Group Ltd. is a property technology company in China, focusing on digitalizing real estate transactions through innovative technologies such as mobile internet, cloud computing, big data, and artificial intelligence [6]

Fangdd Network (NASDAQ:DUO) stock is rocketing higher on Friday alongside heavy pre-market trading of the investment holding company’s shares.This has more than 19.6 million shares of DUO stock changing hands as of this writing. That’s well above the company’s daily average trading volume of about 1.6 million shares.This heavy trading comes despite a lack of news from Fangdd Network. That includes no new press releases or filings with the Securities and Exchange Commission (SEC).However, this is a week of m ...

SHENZHEN, China, April 19, 2024 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ:DUO) ("FangDD" or the "Company"), a customer-oriented property technology company in China, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission on April 19, 2024. The annual report can be accessed on the Company's website at http://ir.fangdd.com. The Company will provide a hard copy of the annual report containing its ...