SHENZHEN, China, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ:DUO) ("FangDD" or the "Company"), a customer-oriented property technology company in China, today announced that it has entered into a convertible note purchase agreement (the "Purchase Agreement"), pursuant to which the Company will issue a convertible promissory note (the "Note") in a principal amount of US$34,320,000 to an investor through private placement.

The Note will be issued to satisfy the Company's certain payment obligations under an asset purchase agreement dated September 29, 2025 by and between the Company and the investor. Detailed information about the asset purchase agreement can be found in the Company's current report on Form 6-K furnished to the U.S. Securities and Exchange Commission (the "SEC") on September 30, 2025. The issuance of the Note is subject to the satisfaction of customary closing conditions.

The Note will mature in 364 days after issuance without bearing interest. Prior to the full repayment of the outstanding principal amount, the Note is convertible into Class A ordinary shares (the "Class A Ordinary Shares") at the option of the Note holder, at a conversion price of US$1.0409. If not previously converted, the outstanding principal amount of the Note will automatically convert into Class A Ordinary Shares on the maturity date. The Note will be an unsecured general obligation of the Company. The foregoing description of the Note and ...