FangDD Announces Donation of Medical Equipment and Measures to Support Real Estate Agents Nationwide

SHENZHEN, China, March 06, 2020 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or the “Company”), a leading property technology company in China, today announced a donation of approximately RMB1 million worth of medical supplies and equipment to hospitals in China’s Hubei Province to help combat the COVID-19 outbreak. The donation includes medical safety glasses, sterile gloves, hazmat suits, and facemasks, all of which were procured through international channels. In addition, the Company implemented a series of measures to ensure a safe and efficient operating environment for real estate agents and customers on its platform.

As a technology-enabled platform, the Company has always been committed to the development of an online real estate transaction process for agencies and agents. For this purpose, the Company launched online solutions to cover five key elements in the transaction process, including property listings, customer interactions, real estate agent services, transaction management services, and payment of transaction service fees.

In response to the COVID-19 outbreak, FangDD has accelerated the execution of its digitization strategy and leveraged its technological capabilities to launch its Online Sales Office service to support China’s real estate industry as well as to improve the efficiency and user experience of online real estate transactions. Currently, the service enables agents to provide transaction services and book property transactions online through property presentations in virtual reality, video, and dynamic pictures. The Company’s decision to further develop its Online Sales Office service in response to the outbreak has received a warm market reception, enabling agents to connect with and provide transaction services to customers, despite current travel restrictions and quarantine measures.

The Company has also made its SaaS products, primary property listing management system, and WeChat sales applications available to all real estate agents in China free of charge. As such, real estate agents across China are now able to effectively manage their customers, properties, and transaction processes by setting up online businesses through the Company’s SaaS offerings. For real estate agencies, the Company’s Online Sales Office service enables them to manage their customer traffic, provide consultation and property showings to customers, and manage the online deposit payment process. Furthermore, the Company has utilized its extensive industry expertise and operational experience to develop over one hundred online courses to help all real estate agents and agency managers better adapt to evolving market conditions. Notably, the Company has organized over 3,000 online streaming classes since the launch of these courses in January.