FangDD Regains Compliance With Nasdaq Minimum Market Value Requirement
Fangdd Network Group Ltd. (Nasdaq: DUO) announced on March 24, 2023, that it has regained compliance with the Nasdaq's minimum market value of publicly held shares (MVPHS) requirement of $5 million. This follows a previous notification on October 20, 2022, indicating non-compliance due to a period of less than 30 consecutive business days below the threshold. The compliance was confirmed based on the MVPHS data from March 9 to March 23, 2023. The matter is now closed, allowing Fangdd to continue its listing on the Nasdaq Global Market, reinforcing its status as a prominent property technology company in China.
- Regained compliance with Nasdaq MVPHS of $5 million, important for continued listing.
- MVPHS exceeded $5 million during the specified compliance period, indicating a recovery.
- Prior non-compliance notification may have raised concerns among investors.
SHENZHEN, China, March 27, 2023 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (Nasdaq: DUO) (“FangDD” or the “Company”), a leading property technology company in China, today announced that it had received a notification letter from the Nasdaq Stock Market LLC (“Nasdaq”) dated March 24, 2023, indicating that the Company has regained compliance with the minimum market value of publicly held shares (“MVPHS”) of US
As previously announced, the Company was notified by Nasdaq on October 20, 2022 that it was not in compliance with the Nasdaq listing requirement to maintain a MVPHS of at least US
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a leading property technology company in China, operating one of the largest online real estate marketplaces in the country. 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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