Fangdd Network Group Terminates Cloud Computing Patent Deal

TL;DR

Fangdd terminates cloud patent deal from June 2024.

AI Summary

Fangdd Network Group Ltd. filed a Form 6-K on January 17, 2025, reporting the termination of a patent purchase agreement originally entered into on June 24, 2024. This agreement was for the acquisition of patents related to cloud computing technology.

Why It Matters

The termination of this patent purchase agreement could impact Fangdd's future technological development and competitive positioning in the cloud computing space.

Risk Assessment

Risk Level: low — This filing is a routine report on the termination of a prior agreement and does not introduce new financial or operational risks.

Key Players & Entities

• Fangdd Network Group Ltd. (company) — Registrant
• June 24, 2024 (date) — Date of original patent purchase agreement
• January 17, 2025 (date) — Filing date of the 6-K

FAQ

Key Financial Figures

• $35,000,000 — he purchase price for the patents was US$35,000,000, and if certain conditions were met, th

Filing Documents

• ea0227767-6k_fangdd.htm (6-K) — 13KB
• ea022776701ex99-1_fangdd.htm (EX-99.1) — 10KB
• 0001213900-25-004342.txt ( ) — 24KB

From the Filing

OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2025 Commission file number: 001-39109 Fangdd Network Group Ltd. Room 1501, Shangmei Technology Building 15 Dachong Road Nanshan District, Shenzhen, 518072 People’s Republic of China Phone: +86 755 2699 8968 (Address and Telephone Number of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Termination of Patent Purchase Agreement As previously disclosed in a current report on Form 6-K dated June 24, 2024, Fangdd Network Group Ltd. (the “Company”) entered into a patent purchase agreement (the “Patent Purchase Agreement”) to acquire certain patents related to cloud computing technology in China, as part of the Company’s strategy to expand into technology-enabled real estate management business. Under the Patent Purchase Agreement, the purchase price for the patents was US$35,000,000, and if certain conditions were met, the seller was entitled to receive additional earnout payments; in the event the transaction did not close by September 21, 2024, either party could terminate the agreement by providing written notice, without incurring liability to the other party. Since the transaction under the Patent Purchase Agreement did not close, the parties executed a termination agreement (the “Termination Agreement”) on January 15, 2025, through which the parties mutually agreed to terminate the Patent Purchase Agreement and any transactions contemplated thereunder. The foregoing description of the Termination Agreement is qualified in its entirety by reference to the full text of such agreement furnished as Exhibit 99.1 to this Form 6-K and incorporated by reference herein. INCORPORATION BY REFERENCE This report on Form 6-K, including Exhibit 99.1 hereto, is hereby incorporated by reference into the registration statement of Fangdd Network Group Ltd. on Form F-3 (No. 333-267397) to the extent not superseded by documents or reports subsequently filed. 1 EXHIBIT INDEX Exhibit No. Description 99.1 Form of Termination Agreement between Fangdd Network Group Ltd. and certain company 2 Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Fangdd Network Group Ltd. By: /s/ Xi Zeng Name: Xi Zeng Title: Chief Executive Officer and Chairman of the Board of Directors Date: January 17, 2025 3

View Full Filing

View this 6-K filing on SEC EDGAR