Fangdd Announces Management and Board Changes
Fangdd Network Group Ltd. (NASDAQ: DUO) announced the resignation of Mr. Yi Duan as Chairman and Co-CEO due to personal reasons, effective May 18, 2022. Mr. Duan remains a director. Mr. Xi Zeng, previously a director and Co-CEO, has been appointed Chairman and retains his CEO role. Zeng expressed gratitude for Duan's contributions and emphasized the company's commitment to navigating changing markets. Fangdd operates one of China's largest online real estate marketplaces, leveraging technology to revolutionize real estate transactions.
- Xi Zeng's appointment as Chairman may ensure continuity in leadership.
- The company continues to emphasize its innovative use of technology in the real estate space.
- Yi Duan's resignation may create uncertainty in company direction.
SHENZHEN, China, May 18, 2022 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or “the Company”), a leading property technology company in China, today announced that Mr. Yi Duan has resigned as the Chairman of the of the Board of Directors, Co-Chief Executive Officer, a member of the Compensation Committee and a member of the Nominating and Corporate Governance Committee for personal reasons. Mr. Duan will continue to serve as a director of the Company. Mr. Xi Zeng, the Company’s director and Chief Executive Officer, has been appointed to serve as the Chairman of the Board of Directors, a member of the Compensation Committee and a member of the Nominating and Corporate Governance Committee. These changes became effective today.
Mr. Xi Zeng, Chief Executive Officer of FangDD, commented, “Together with Mr. Duan, we have established a leading real estate-focused online marketplace in China. On behalf of FangDD and the Board, I would like to thank Mr. Yi Duan for his invaluable contributions and dedication to the Company. Together with the leadership team, I will further build on that and lead the company to navigate the changing markets.”
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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