FangDD States Its Policy Not to Comment on Unusual Market Activity or Speculative Matters

Rhea-AI Summary

Fangdd Network Group Ltd. (NASDAQ: DUO) announced on June 10, 2020, that it does not comment on unusual market activity, following a spike in price and trading volume of its American depositary shares (ADSs) on June 9, 2020. The company cautioned investors about potential volatility in ADS prices, attributing it to factors beyond its control. Fangdd, a leading property technology firm in China, leverages mobile internet and big data to enhance real estate business operations.

Positive

• None.

Negative

• Potential volatility in ADS prices due to external factors.
• Company's reluctance to comment on unusual market activity may raise investor concerns.

SHENZHEN, China, June 10, 2020 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or the “Company”) is a leading property technology company in China. In light of the increases in the price and trading volume of the Company’s American depositary shares (“ADSs”) on June 9, 2020, FangDD stated that its policy is not to comment on unusual market activity or speculative matters. The Company cautions investors that the trading price of the Company’s ADSs could be subject to significant volatility for various reasons that are out of the Company’s control. Further information regarding this and other risks relating to the Company’s ADSs is included in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission.

About FangDD
Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or the “Company”) is a leading property technology company in China. Through innovative use of mobile internet, cloud and big data, FangDD has fundamentally revolutionized the way real estate agents conduct business through a suite of modular products and services powered by technology.

Investor Relations Contact
FangDD
Ms. Linda Li
Director, Capital Markets Department
Phone: +86-0755-2699-8968
E-mail:ir@fangdd.com

ICR, Inc.
Jack Wang
Phone: +1(646) 308-1649
E-mail: FangDD@icrinc.com

FAQ

What does Fangdd Network Group Ltd. do?

Fangdd Network Group Ltd. is a leading property technology company in China, revolutionizing real estate through technology.

What is the stock symbol for Fangdd Network Group?

The stock symbol for Fangdd Network Group is DUO.

What happened to Fangdd's stock on June 9, 2020?

On June 9, 2020, Fangdd's American depositary shares experienced a significant increase in price and trading volume.

What caution did Fangdd give regarding its ADS prices?

Fangdd cautioned that its ADS prices could experience significant volatility due to factors outside its control.

Why did Fangdd not comment on the market activity?

Fangdd stated its policy is not to comment on unusual market activity or speculative matters.