FangDD Receives Nasdaq Notice Regarding Minimum Bid Price Requirements
23 Junho 2023 - 9:45AM
Fangdd Network Group Ltd. (Nasdaq: DUO) (“FangDD” or the “Company”)
today announced that it has received a written notification from
The Nasdaq Stock Market LLC (“Nasdaq”) dated June 22, 2023,
notifying that the Company is currently not in compliance with the
minimum bid price requirement set forth under Nasdaq Listing Rule
5450(a)(1) (the “Rule”) as the bid price of the Company’s American
depositary shares (“ADSs”) closed below US$1 per share for the last
30 consecutive business days from May 9, 2023 to June 21, 2023. The
Company has been granted a grace period of 180 calendar days,
expiring on December 19, 2023, in which to regain compliance. The
Company will regain compliance if, at any time during this 180-day
period, the closing bid price of the Company’s ADSs is at least
US$1 for a minimum of ten consecutive business days. In the event
the Company does not regain compliance with the Rule within 180
calendar days, the Company may be eligible for additional time.
The Company intends to monitor the closing bid
price of its ADSs between now and December 19, 2023 and intends to
consider available options to cure the deficiency and regain
compliance with the Rule’s minimum bid price requirement within the
prescribed grace period. The Company’s ADSs will continue to be
listed and trade on the Nasdaq Capital Market during this period,
unaffected by the receipt of the written notification from
Nasdaq.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
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 LiDirector, Capital Markets DepartmentPhone:
+86-0755-2699-8968E-mail: ir@fangdd.com
FangDD Network (NASDAQ:DUO)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
FangDD Network (NASDAQ:DUO)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024