Fangdd Network Group Ltd.
Climate Impact & Sustainability Data (2021-2023)
Reporting Period: 2021-2023
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Continued property market downturn
- Resurgence of COVID-19 outbreaks in China
- High credit risk developers
- PRC government regulatory actions and guidelines
Mitigation Strategies
- Minimizing exposure to systematic risk of real estate industry
- Ceased business cooperation with high credit risk developers
- Reduced business scale of new property and resale property transaction service business
- Focusing on developers with strong credit profiles
- Actively exploring opportunities in other digitalization services for real estate transactions
- Engaging a Singapore-based accounting firm registered with the PCAOB