FangDD Announces New Management Positions to Optimize Organizational Structure

SHENZHEN, China, March 11, 2020 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ: DUO) (“FangDD” or the “Company”), a leading property technology company in China, today announced an initiative to optimize its organizational structure through the creation of new senior management positions. The structural optimization is an essential step of FangDD’s overarching strategy focused on refining its service offerings, expanding market leadership, and improving operating performances.

As part of this initiative, the Company's board of directors has promoted Mr. Xi Zeng to co-Chief Executive Officer. As a co-Founder of the Company, Mr. Zeng served as FangDD’s director and Chief Operating Officer since 2011. In his new role, Mr. Zeng’s responsibilities will expand to overseeing the execution of the Company’s strategies with a focus on achieving growth targets. Meanwhile, the other co-CEO of the Company, Mr. Yi Duan, will focus on strategy development, product innovation, corporate governance, and capital market activities.

Furthermore, the board also appointed Ms. Jiaorong Pan, currently the Company’s Senior Vice President, as the Chief Financial Officer of the Company. As the Chief Financial Officer, Ms. Pan will oversee all finance functions and play a vital role in the Company’s ongoing efforts to optimize cost structure, improve capital market communication and deliver profitable growth.

Ms. Pan has over 16 years of experience in the real estate industry. As a member of the Company’s core founding team and Senior Vice President since October 2011, Ms. Pan has extensive experience in financial management and in-depth knowledge of FangDD’s operations. Prior to joining FangDD, Ms. Pan was a General Manager at Suzhou Huamei Enterprise Marketing Planning Co., Ltd., where she supervised the daily operations and pioneered an innovative real estate sales model.  Between September 2003 and October 2009, Ms. Pan served as a manager for the consulting department of Best Team Real Estate Comprehension Services Co., Ltd. During her tenure, she chaired all market research and project development efforts. Ms. Pan holds a bachelor's degree in construction engineering from Suzhou University of Science and Technology and an EMBA degree from the Cheung Kong Graduate School of Business.