FangDD Regains Compliance with Nasdaq Minimum Bid Price Requirement
FangDD Network Group (Nasdaq: DUO) has announced that it has regained compliance with Nasdaq's minimum bid price requirement. The company received a notification letter from Nasdaq on October 10, 2024, confirming that the closing bid price of FangDD's Class A ordinary shares had been at $1.00 per share or greater for ten consecutive business days, from September 26 through October 9, 2024.
This development resolves the non-compliance issue that was initially flagged on December 13, 2023, when FangDD was notified that it had fallen below the minimum bid price requirement as per Nasdaq Listing Rule 5550(a)(2). The company's American depositary shares had previously closed below $1.00 per share for 30 consecutive business days. With this compliance notice, Nasdaq has confirmed that the matter is now closed.
FangDD Network Group (Nasdaq: DUO) ha annunciato di aver ripristinato la conformità con il requisito del prezzo minimo di offerta di Nasdaq. L'azienda ha ricevuto una lettera di notifica da Nasdaq il 10 ottobre 2024, che confermava che il prezzo di chiusura dell'offerta delle azioni ordinarie di Classe A di FangDD era stato di $1,00 per azione o superiore per dieci giorni lavorativi consecutivi, dal 26 settembre al 9 ottobre 2024.
Quest'ulteriore sviluppo risolve la questione di non conformità che era stata inizialmente segnalata il 13 dicembre 2023, quando FangDD era stata informata di aver superato il limite minimo di prezzo richiesto secondo la Regola di Quotazione 5550(a)(2) di Nasdaq. Le azioni di deposito americane dell'azienda avevano precedentemente chiuso sotto $1.00 per 30 giorni lavorativi consecutivi. Con questa comunicazione di conformità, Nasdaq ha confermato che la questione è ora risolta.
FangDD Network Group (Nasdaq: DUO) ha anunciado que ha recuperado el cumplimiento con el requisito del precio mínimo de oferta de Nasdaq. La compañía recibió una carta de notificación de Nasdaq el 10 de octubre de 2024, confirmando que el precio de cierre de las acciones ordinarias de Clase A de FangDD había sido de $1,00 por acción o más durante diez días hábiles consecutivos, desde el 26 de septiembre hasta el 9 de octubre de 2024.
Este desarrollo resuelve el problema de incumplimiento que fue señalado inicialmente el 13 de diciembre de 2023, cuando FangDD fue notificada de que había caído por debajo del requisito del precio mínimo de oferta según la Regla de Cotización 5550(a)(2) de Nasdaq. Las acciones de depósito americanas de la compañía habían cerrado anteriormente por debajo de $1.00 por 30 días hábiles consecutivos. Con esta notificación de cumplimiento, Nasdaq ha confirmado que el asunto está ahora cerrado.
팡DD 네트워크 그룹(Nasdaq: DUO)은 나스닥의 최소 매도 가격 요구사항을 재확인했다고 발표했습니다. 이 회사는 2024년 10월 10일 나스닥으로부터 팡DD의 클래스 A 보통주 마감 가격이 2024년 9월 26일부터 10월 9일까지 10일 연속으로 $1.00 주당 또는 그 이상이었다는 확인서를 받았습니다.
이번 발전은 2023년 12월 13일 최초 지적된 불이행 문제를 해결합니다. 당시 팡DD는 나스닥 상장규정 5550(a)(2)에 따라 최소 매도 가격 요구사항을 충족하지 못했다는 통지를 받았습니다. 해당 회사의 미국 예탁 주식은 30일 연속으로 주당 $1.00 이하로 마감된 바 있습니다. 이번 준수 통지로 나스닥은 이 문제가 현재 종료되었음을 확인했습니다.
FangDD Network Group (Nasdaq: DUO) a annoncé qu'elle avait retrouvé la conformité avec l'exigence du prix minimum de soumission de Nasdaq. La société a reçu une lettre de notification de la part de Nasdaq le 10 octobre 2024, confirmant que le prix de clôture des actions ordinaires de Classe A de FangDD avait été de $1,00 par action ou plus pendant dix jours ouvrables consécutifs, du 26 septembre au 9 octobre 2024.
Ce développement résout le problème de non-conformité qui avait été initialement signalé le 13 décembre 2023, lorsque FangDD a été informée qu'elle était tombée en dessous du prix minimum requis selon la Règle de Cotation 5550(a)(2) de Nasdaq. Les actions de dépôt américaines de la société avaient précédemment clôturé en dessous de 1,00 $ par action pendant 30 jours ouvrés consécutifs. Avec cette notification de conformité, Nasdaq a confirmé que la question est désormais close.
FangDD Network Group (Nasdaq: DUO) hat bekannt gegeben, dass es die Anforderungen von Nasdaq bezüglich des Mindestgebotspreises wieder erfüllt hat. Das Unternehmen erhielt am 10. Oktober 2024 ein Benachrichtigungsschreiben von Nasdaq, das bestätigte, dass der Schlussgebotspreis von FangDDs Stammaktien der Klasse A seit dem 26. September bis zum 9. Oktober 2024 für zehn aufeinanderfolgende Geschäftstage bei $1,00 pro Aktie oder höher gelegen hatte.
Diese Entwicklung löst das ursprünglich am 13. Dezember 2023 angezeigte Problem der Nichteinhaltung, als FangDD darüber informiert wurde, dass es unter den Mindestgebotsanforderungen gemäß der Nasdaq-Listing-Regel 5550(a)(2) gefallen war. Die amerikanischen Depotaktien des Unternehmens hatten zuvor an 30 aufeinanderfolgenden Geschäftstagen unter 1,00 $ pro Aktie geschlossen. Mit dieser Mitteilung über die Compliance hat Nasdaq bestätigt, dass die Angelegenheit nun abgeschlossen ist.
- Regained compliance with Nasdaq's minimum bid price requirement
- Closing bid price of Class A ordinary shares maintained at $1.00 or above for ten consecutive business days
- Resolved non-compliance issue, potentially avoiding delisting risk
- None.
Insights
Regaining compliance with Nasdaq's minimum bid price requirement is a positive development for FangDD, albeit with immediate financial impact. This news removes the immediate threat of delisting, which could have severely impacted investor confidence and the company's ability to raise capital.
However, it's important to note that maintaining compliance is an ongoing challenge. The company's
While this news may provide a short-term boost to investor sentiment, it doesn't address fundamental business performance or growth prospects. Investors should look for upcoming financial results and operational updates to gauge the company's true health and potential for long-term value creation.
SHENZHEN, China, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (“FangDD” or the “Company”) (Nasdaq: DUO) today announced that the Company received a notification letter (the “Compliance Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”), dated October 10, 2024, indicating that the Company regained compliance with the minimum bid price requirement set forth under the Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).
As previously announced, the Company was notified by Nasdaq on December 13, 2023 that the Company was not in compliance with the Minimum Bid Price Requirement as the bid price of the Company’s American depositary shares (“ADSs”) previously representing the Company’s Class A ordinary shares closed below US
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a customer-oriented property technology company in China, focusing on providing real estate transaction digitalization services. Through innovative use of mobile internet, cloud, big data, artificial intelligence, among others, FangDD has fundamentally revolutionized the way real estate transaction participants conduct their business through a suite of modular products and solutions powered by SaaS tools, products and technology. For more information, please visit http://ir.fangdd.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “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 the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Ms. Linda Li
Director, Capital Markets Department
Phone: +86-0755-2699-8968
E-mail: ir@fangdd.com
FAQ
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