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Phoenix Tree Holdings Limited (DNK) recently conducted a survey on Chinese millennials' spending habits. The survey, which gathered over 3,700 responses, revealed that 66.5% of respondents adopt a balanced approach to budgeting. Notably, 63.2% reported having additional income streams, with higher earners more likely to do so. Rent is the largest monthly expense, while practicality is the top factor influencing purchases for 49.7% of respondents. The survey highlights a trend towards self-improvement and the use of credit services among younger generations.
Phoenix Tree Holdings Limited (DNK), a leading co-living platform in China, has received its fourth significant industry award in 2020, highlighting its strong business model and brand influence. The awards include '2020 Most Loved Apartment Operator by Tenants' at the 9th BRIC Value Awards and '2020 Chinese Companies Contributing to Better Living' at the Leju Finance Annual Convention. These accolades reflect Danke's innovative approach to centralized rental services and its focus on enhancing living quality through technology and design.
Phoenix Tree Holdings Limited, known as Danke, has released the 2020 College Graduate Housing Blue Book in partnership with People's Daily Online and K618.cn. This initiative targets China's 8.74 million graduates, addressing their rental challenges during COVID-19. The online survey collected 1,657 responses, revealing that 81% prefer rent under RMB2,000. Key preferences include room sharing and expectations for hygienic living conditions. The report highlights new trends in apartment selection, emphasizing price, location, and safety, with a notable increase in shared living arrangements.
On Aug. 3, 2020, Phoenix Tree Holdings Limited (NYSE: DNK) launched its Danke Apartment 5.0, a new standardized interior design initiative aimed at enhancing resident living conditions in China. The initiative introduces six design styles featuring the Morandi color palette and emphasizes functionality, safety, and eco-friendliness. Adaptations include increased storage options, E0 grade formaldehyde emission panels, and Stone Polymer Composite flooring. The new design will be implemented in newly sourced apartments in major cities including Beijing, Shanghai, and Shenzhen.
Danke (NYSE: DNK), a leading co-living platform in China, has partnered with the Asian Alliance for Food and Beverage Industry to offer a rent discount plan for catering employees affected by the COVID-19 pandemic. This initiative aims to provide over RMB 5 million in rent discounts across Beijing, Shanghai, and Shenzhen. The plan includes short-term rentals, deposit waivers, and enhanced health protocols in Dream Apartment facilities, which currently serve tens of thousands of corporate employees through 11 locations, offering 11,000 beds.
Danke (NYSE: DNK), a leading co-living platform in China, has partnered with SFFreight and Huolala to launch a one-click moving service for college graduates facing challenges due to COVID-19. The initiative includes coupons worth up to RMB100 for moving services, addressing high demand among recent graduates. Additionally, Danke offers a complete rental solution through its Starling Project, benefiting over one million graduates from 2,000 institutions in the past four years, promoting affordable and comfortable housing.
Danke (NYSE: DNK), a leading co-living platform in China, launched a new live-streamed program called Danke Roast on June 23, aimed at addressing common user concerns in the residential rental industry. The debut attracted 9,000 viewers with over 17,000 playbacks, featuring topics like lease termination and rent financing. The initiative seeks to enhance transparency and strengthen user engagement by addressing industry challenges directly. Founded in 2015, Danke operates in 13 major cities, providing stylish, affordable apartments through an innovative rental model.
Phoenix Tree Holdings Limited, known as Danke, has appointed Yan Cui as the interim CEO following the inability of co-founder and CEO Jing Gao to fulfill his duties due to an investigation by local authorities related to a prior business. The company asserts that this investigation does not connect to its current operations. Danke, a leading co-living platform in China, has seen sustained growth over the past five years and currently operates effectively under Cui’s leadership. The Board does not anticipate any material negative impact from Gao's absence on the company's daily operations.
Danke, one of the largest co-living platforms in China, announced the appointment of Jason Zheng Zhang as a director on its board, effective June 16, 2020. Mr. Zhang, who has been CFO since 2019, has extensive experience in investment banking, previously working for Citigroup and BNP Prime Peregrine. Additionally, the company reported the resignation of Gang Ji as a board director effective June 14, 2020, due to personal reasons, with no disputes reported. Danke continues to aim for growth by leveraging technology in the rental market.
