FangDD Expands Into Real Estate Management Business With US$35 Million Patent Acquisition [Yahoo! Finance]
Fangdd Network Group Ltd. - American Depositary Shares (DUO)
Last fangdd network group ltd. - american depositary shares earnings: 3/31 05:00 am
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Source: Yahoo! Finance
entered into an agreement to purchase certain patents relating to cloud computer technology in China. The transaction is part of the Company's strategy to expand into technology-enabled real estate management as a supplement to its existing business. The purchase price for the patents is US$35,000,000. Additionally, the seller is entitled to receive an earnout payment for each fiscal year ending on December 31, 2024, December 31, 2025 and December 31, 2026 at an amount equal to (a) US$15,000,000 multiplied by (b) the ratio of (i) the revenue generated by the patents during such year to (ii) RMB108,450,000. The total amount of the earnout payments for all three years combined shall not exceed US$15,000,000. The Company will have three months to raise funds for the purchase and complete the transaction. If the transaction does not close by September 21, 2024, either party may terminate the agreement by providing written notice, without incurring liability to the other party. The pur
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News
- FangDD Expands Into Real Estate Management Business With US$35 Million Patent AcquisitionGlobeNewswire
- FangDD Announces Board and Committee Changes [Yahoo! Finance]Yahoo! Finance
- FangDD Announces Board and Committee ChangesGlobeNewswire
- FangDD Announces Termination Plan for Its ADR Facility, and the Plan to Hold an Extraordinary General Meeting of ShareholdersGlobeNewswire
- FangDD Files 2023 Annual Report on Form 20-F [Yahoo! Finance]Yahoo! Finance
DUO
Sec Filings
- 6/24/24 - Form 6-K
- 6/13/24 - Form 6-K
- 6/12/24 - Form 6-K
- DUO's page on the SEC website