DUO - Fangdd to enter Real Estate Stock Asset services sector as part of 2024 Strategic Layout

2024-03-11 08:50:33 ET

DENVER, Colo., Mar 11, 2024 ( 247marketnews.com ) – Fangdd Network Group Ltd. (NASDAQ: DUO ) stated, after Friday’s market close, that Fangdd plans to enter the real estate stock asset services market and actively explore related business, due to urbanization slowdown and per capita housing saturation in China, as the traditional real estate industry is constantly shrinking in development scale and the Chinese real estate market is gradually shifting from an “incremental market” to a “stock market”.

Fangdd Network is trading at $1.00, up $0.395 (+65.30%), on 8.89M shares.

Its 52-week range is $0.476 to $26.55. Foreign based listings are usually better scalps or swings, than holds.

Fangdd’s new strategic blueprint for real estate stock asset services aims to build a leading platform of real estate stock asset services with comprehensive service capabilities of operation, sales, and technology, by filling gaps, elongating strengths, and forging new strengths.

Fangdd’s 2024 focus will be on improving asset revitalization capabilities by establishing the operational and technological services required for real estate stock assets; and increasing service asset projects by seizing potential opportunities of stock assets mainly in the areas of apartments, commercial properties and industries.

Fangdd plans on diversifying income sources and resist the operational risks from sole dependence on transaction commissions. In the long run, real estate stock asset services can bring new business opportunities and growth momentum and opportunities and new growth poles, which will contribute to our business transformation and upgrading.

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