{"id":385640,"date":"2020-11-19T16:33:19","date_gmt":"2020-11-19T21:33:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385640"},"modified":"2020-11-19T16:33:19","modified_gmt":"2020-11-19T21:33:19","slug":"fangdd-announces-strategic-partnership-with-shanghai-yuancui","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-announces-strategic-partnership-with-shanghai-yuancui\/","title":{"rendered":"FangDD Announces Strategic Partnership With Shanghai Yuancui"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">SHENZHEN, China, Nov.  20, 2020  (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or the \u201cCompany\u201d), a leading property technology company in China, today announced that it has entered into a share transfer and capital increase agreement (the \u201cAgreement\u201d) with Shanghai Yuancui Information Technology Co., Ltd. (\u201cShanghai Yuancui\u201d), a company providing technology-enabled solutions, franchise branding, and operational efficiency improvements for agents and agencies in the real estate brokerage industry. Currently, Shanghai Yuancui has more than 400 offline stores. Centaline (China) Property Agency Limited, a subsidiary of leading real estate brokerage firm Centaline Group, is a shareholder of Shanghai Yuancui.<\/p>\n<p align=\"both\">Pursuant to the Agreement, after the closing and completion of the Company&#8217;s investment in Yuancui, the Company will hold 51% of the equity interests in Shanghai Yuancui.<\/p>\n<p align=\"both\">The Agreement is an essential part of the Company\u2019s strategic partnership with Centaline Group. Under the partnership, the Company and Centaline Group will jointly develop a leading technology-enabled franchising system designed to empower real estate agencies in China. The partnership will also enable the Company to combine Centaline Group\u2019s extensive offline operation experience and management system with FangDD\u2019s industry-leading capabilities in technological innovation, data collection, SAAS empowerment and real estate transaction chain digitization to improve its service offerings and unlock the growth potential of the new technology-enabled franchising system.<\/p>\n<p align=\"both\">\n        <strong>About FangDD<\/strong>\n      <\/p>\n<p align=\"both\">Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or the \u201cCompany\u201d) 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 and big data, FangDD has fundamentally revolutionized the way real estate agents conduct business through a suite of modular products and services powered by SaaS tools, productions and technology. Of the approximately 2.0 million real estate agents in China, more than 1,250,000 were on its platform as of December 31, 2019. For more information, please visit http:\/\/ir.fangdd.com.<\/p>\n<p align=\"both\">\n        <strong>Safe Harbor Statement<\/strong>\n      <\/p>\n<p align=\"both\">This announcement contains forward-looking statements. These statements are made under the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as \u201caim,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201chope,\u201d \u201cgoing forward,\u201d \u201cintend,\u201d \u201cought to,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201cseek,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cshall,\u201d \u201cshould,\u201d \u201cis likely to\u201d and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about FangDD\u2019s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as FangDD\u2019s strategic and operational plans, 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, including but not limited to the following. The general economic and business conditions in China may deteriorate. The growth of Internet and mobile user population in China might not be as strong as expected. FangDD\u2019s plan to attract new and retain existing real estate agents, expand property listings, develop new products and increase service offerings might not be carried out as expected. FangDD might not be able to implement all of its strategic plans as expected. Competition in China may intensify further. All information provided in this press release is as of the date of this press release and are based on assumptions that the Company believes to be reasonable as of this date, and FangDD does not undertake any obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p align=\"both\">\n        <strong>Investor Relations Contact<\/strong>\n      <\/p>\n<p align=\"both\">FangDD<\/p>\n<p align=\"both\">Ms. Linda Li<\/p>\n<p align=\"both\">Director, Capital Markets Department<\/p>\n<p align=\"both\">Phone: +86-0755-2699-8968<\/p>\n<p align=\"both\">E-mail: ir@fangdd.com<\/p>\n<p align=\"both\">ICR, Inc.<\/p>\n<p align=\"both\">Jack Wang<\/p>\n<p align=\"both\">Phone: +1(646) 308-1649<\/p>\n<p align=\"both\">E-mail: FangDD@icrinc.com<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTQ5OSMzODM2Mjc1IzIxODk3OTQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/a0236c55-b8fd-489c-bd7e-1f2176af58f9\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHENZHEN, China, Nov. 20, 2020 (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or the \u201cCompany\u201d), a leading property technology company in China, today announced that it has entered into a share transfer and capital increase agreement (the \u201cAgreement\u201d) with Shanghai Yuancui Information Technology Co., Ltd. (\u201cShanghai Yuancui\u201d), a company providing technology-enabled solutions, franchise branding, and operational efficiency improvements for agents and agencies in the real estate brokerage industry. Currently, Shanghai Yuancui has more than 400 offline stores. Centaline (China) Property Agency Limited, a subsidiary of leading real estate brokerage firm Centaline Group, is a shareholder of Shanghai Yuancui. Pursuant to the Agreement, after the closing and completion of the Company&#8217;s investment in Yuancui, the Company will hold &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-announces-strategic-partnership-with-shanghai-yuancui\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FangDD Announces Strategic Partnership With Shanghai Yuancui&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385640","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FangDD Announces Strategic Partnership With Shanghai Yuancui - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fangdd-announces-strategic-partnership-with-shanghai-yuancui\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FangDD Announces Strategic Partnership With Shanghai Yuancui - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SHENZHEN, China, Nov. 20, 2020 (GLOBE NEWSWIRE) &#8212; Fangdd Network Group Ltd. (NASDAQ: DUO) (\u201cFangDD\u201d or the \u201cCompany\u201d), a leading property technology company in China, today announced that it has entered into a share transfer and capital increase agreement (the \u201cAgreement\u201d) with Shanghai Yuancui Information Technology Co., Ltd. (\u201cShanghai Yuancui\u201d), a company providing technology-enabled solutions, franchise branding, and operational efficiency improvements for agents and agencies in the real estate brokerage industry. Currently, Shanghai Yuancui has more than 400 offline stores. Centaline (China) Property Agency Limited, a subsidiary of leading real estate brokerage firm Centaline Group, is a shareholder of Shanghai Yuancui. 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(NASDAQ: DUO) (\u201cFangDD\u201d or the \u201cCompany\u201d), a leading property technology company in China, today announced that it has entered into a share transfer and capital increase agreement (the \u201cAgreement\u201d) with Shanghai Yuancui Information Technology Co., Ltd. (\u201cShanghai Yuancui\u201d), a company providing technology-enabled solutions, franchise branding, and operational efficiency improvements for agents and agencies in the real estate brokerage industry. Currently, Shanghai Yuancui has more than 400 offline stores. Centaline (China) Property Agency Limited, a subsidiary of leading real estate brokerage firm Centaline Group, is a shareholder of Shanghai Yuancui. 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