GlobeNewswire Inc | Jan 7, 2022 12:50AM EST

January 07, 2022

SHENZHEN, China, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (FangDD or the Company) (Nasdaq: DUO) today announced that the Company had received a notice from the Nasdaq Stock Market LLC (Nasdaq), dated January 4, 2022, notifying that, the Company is currently notin compliancewith the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1)(the Rule). It has resulted from the fact that the bid price of the Companys American depositary shares (ADSs) closed belowUS$1per share for the last 30 consecutive business days fromNovember 19, 2021 to January 3, 2022. The Company has been granted a grace period of 180 calendar days, expiring onJuly 5, 2022, 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 Companys ADSs is at leastUS$1for 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 andJuly 5, 2022and intends to consider available options to cure the deficiency and regain compliance with the Rules minimum bid price requirement within the prescribed grace period. The Companys ADSs will continue to be listed and trade on theNasdaq Capital Marketduring this period, unaffected by the receipt of the written notice from Nasdaq.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

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 Companys 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.

Contact:

FangDDMs. Linda LiDirector, Capital Markets DepartmentPhone: +86-0755-2699-8968E-mail:ir@fangdd.com