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SHENZHEN, China - Fangdd Network Group Ltd. (NASDAQ:DUO), a micro-cap company with a market value of $9.45 million, has regained compliance with Nasdaq’s minimum bid price requirement, the Chinese property technology company announced Wednesday.
The company received written notice from Nasdaq’s Listing Qualifications Department on June 24 confirming it had met the exchange’s requirement to maintain a minimum closing bid price of $1.00 per share.
Fangdd had previously received a delinquency notification from Nasdaq on December 24, 2024, after its Class A ordinary shares traded below the $1.00 threshold for 30 consecutive business days. The company was given until June 23, 2025, to regain compliance, which it achieved on that date.
Under Nasdaq Listing Rule 5550(a)(2), listed securities must maintain a minimum bid price of $1.00 per share to remain on the exchange.
Fangdd describes itself as a property technology company in China that focuses on providing real estate transaction digitalization services. The company utilizes mobile internet, cloud computing, big data, and artificial intelligence technologies in its operations.
The information in this article is based on a press release statement from Fangdd Network Group Ltd.
In other recent news, Fangdd Network Group Ltd. has announced a share consolidation plan to comply with Nasdaq’s listing requirements. The restructuring will consolidate every 16 ordinary shares into a single share, reducing the total number of shares from 62,472,674 to 3,904,565. This move aims to meet the minimum bid price requirement, with no change in shareholders’ percentage ownership except for minor adjustments due to fractional shares. Additionally, Fangdd has called for an extraordinary general meeting of shareholders, with materials made available for review, emphasizing its commitment to transparency and governance. The specifics of the meeting have not been disclosed yet.
In analyst updates, DA Davidson has raised its price target for FangDD Network to $410 from $400, maintaining a Buy rating. Analyst Wyatt Swanson’s revision follows an analysis of the company’s performance data, suggesting potential growth beyond current market expectations. This reflects DA Davidson’s confidence in FangDD Network’s growth prospects.
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