FangDD Regains Compliance with Nasdaq Minimum Bid Price Requirement

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$1.00 per share for 30 consecutive business days. In its Compliance Notice, Nasdaq has confirmed that for the ten consecutive business days, from September 26 through October 9, 2024, the closing bid price of the Company's Class A ordinary shares has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with the Nasdaq Listing Rule 5550(a)(2), and the matter is closed.