FangDD Announces Share Consolidation

Core Viewpoint - Fangdd Network Group Ltd. announced a share consolidation to comply with Nasdaq's minimum bid price requirement, effective June 9, 2025 [1][2]. Group 1: Share Consolidation Details - The share consolidation will convert every 16 ordinary shares with a par value of US$0.0005625 into 1 ordinary share with a par value of US$0.009 [1]. - The consolidation was approved by the board of directors and shareholders during an extraordinary general meeting on May 27, 2025 [2]. - Prior to the consolidation, the company had 62,472,674 issued and outstanding ordinary shares, which will be reduced to 3,904,565 shares post-consolidation [2]. Group 2: Impact on Shareholders - The share consolidation will not affect shareholders' percentage ownership in the company, aside from minor adjustments for fractional shares [3]. Group 3: Company Overview - Fangdd Network Group Ltd. is a property technology company in China, focusing on real estate transaction digitalization services [4]. - The company utilizes mobile internet, cloud, big data, and artificial intelligence to transform real estate transactions through SaaS tools and solutions [4].