FANGDD NETWORK GROUP LTD. (DUO) Social Stream

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$DUO Huge growth will continue for digital Saas platforms like DUO.Mr. Yi Duan, Chairman and Co-Chief Executive Officer of FangDD, commented, “China’s new construction property market saw a continued growth in the first half of 2021, reaching RMB9.3 trillion in sales. However, the government continued to intensify regulations aimed at limiting market speculation during the second quarter, leading to cash flow difficulties for certain real estate companies. Transaction volumes for resale properties in cities such as Shanghai and Shenzhen declined, leaving increased uncertainties in the industry. Given this environment, the only way for real estate developers to thrive is by reducing costs and improving efficiency through digitalization. This gives rise to tremendous growth potential for real estate transaction service platforms, as the era of reckless competition gradually comes to an end and asset-light companies focusing on efficiency begin to thrive in the next phase of development.”