Fangdd Network regains compliance with Nasdaq requirement

Fangdd Network received a notification letter from the Nasdaq Stock Marketdated March 24, 2023, indicating that the Company has regained compliance with the minimum market value of publicly held shares of $5 million as required by Nasdaq Listing Rule 5450(b)(1)(C) for continued listing on the Nasdaq Global Market. As previously announced, the Company was notified by Nasdaq on October 20, 2022 that it was not in compliance with the Nasdaq listing requirement to maintain a MVPHS of at least $5 million for a period of 30 consecutive business days. The Company was provided a compliance period of 180 calendar days until April 18, 2023 to regain compliance. On March 24, 2023, based on the Company’s MVPHS for the last 11 consecutive business days, from March 9 to March 23, 2023, Nasdaq confirmed that the Company’s MVPHS had been greater than $5 million. Accordingly, the Company has regained compliance with the MVPHS requirement and this matter was closed.