As filed with the Securities and Exchange Commission on March 31, 2020

Registration No. 333-     

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM S-8

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 


 

Fangdd Network Group Ltd.

(Exact name of registrant as specified in its charter)

 


 

Cayman Islands

 

Not Applicable

(State or other jurisdiction of
incorporation or organization)

 

(I.R.S. Employer
Identification Number)

 

18/F, Unit B2, Kexing Science Park

15 Keyuan Road, Technology Park

Nanshan District, Shenzhen 518057

People’s Republic of China

Telephone: +86 755 2699-8968

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 


 

Amended and Restated 2018 Share Incentive Plan

(Full title of the plan)

 


 

Puglisi & Associates

850 Library Avenue, Suite 204

Newark, Delaware 19711

Telephone: +1-302-738-6680

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 


 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

o

 

Accelerated filer

 

o

Non-accelerated filer

 

x

 

Smaller reporting company

 

o

Emerging growth company

 

x

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 7(a)(2)(B) of the Securities Act.  o

 

Copies to:

 

Jiaorong Pan
Chief Financial Officer
Fangdd Network Group Ltd.
18/F, Unit B2, Kexing Science Park
15 Keyuan Road, Technology Park
Nanshan District, Shenzhen 518057
People’s Republic of China
+86 755 2699-8968

 

Will H. Cai, Esq.
Cooley LLP
c/o Suites 3501-3505, 35/F
Two Exchange Square
8 Connaught Place
Central, Hong Kong
+852 3758 1200

 


 

CALCULATION OF REGISTRATION FEE

 

 

Title of securities
to be registered
(1)

 

Amount
to be 
registered
(2)

 

Proposed
maximum
offering price
per share

 

Proposed
maximum
aggregate
offering price

 

Amount of
registration fee

 

Class A Ordinary Shares, par value US$0.0000001 per share

 

100,978,088

(3)

$

0.0000001

(3)

$

10.10

 

$

0.01

 

Class A Ordinary Shares, par value US$0.0000001 per share

 

82,627,704

(4)

$

0.42

(4)

$

34,455,752.57

 

$

4,472.36

 

Total

 

183,605,792

 

 

$

34,455,762.67

 

$

4,472.37

 

 

(1)

These shares may be represented by the Registrant’s American Depositary Shares, or ADSs, each of which represents twenty-five Class A ordinary shares. The Registrant’s ADSs issuable upon deposit of the Class A ordinary shares registered hereby have been registered under separate registration statements on Form F-6 (File No. 333-234295).

(2)

Represents Class A ordinary shares issuable upon exercise of options and pursuant to other awards granted under the Amended and Restated 2018 Share Incentive Plan (the “Plan”). Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this registration statement also covers an indeterminate number of additional shares which may be offered and issued to prevent dilution from share splits, share dividends or similar transactions as provided in the Plan. Any Class A ordinary shares covered by an award granted under the Plan (or portion of an award) that terminates, expires or lapses for any reason will be deemed not to have been issued for purposes of determining the maximum aggregate number of ordinary shares that may be issued under the Plan.

(3)

The amount to be registered represents Class A ordinary shares issuable upon the exercise of outstanding options granted under the Plan as of the date of this registration statement, and the corresponding proposed maximum offering price per share represents the weighted average exercise price of such outstanding options.

(4)

The shares are reserved for future award grants under the Plan. The corresponding proposed maximum offering price per share, which is estimated solely for the purposes of calculating the registration fee under Rule 457(h) and Rule 457(c) under the Securities Act, is based on US$10.43 per ADS, the average of the high and low prices for the Registrant’s ADSs as quoted on the Nasdaq Global Market on March 27, 2020.

 

 

 


 

PART I

 

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

 

Item 1.              Plan Information*

 

Item 2.              Registrant Information and Employee Plan Annual Information*

 


*       Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this registration statement in accordance with Rule 428 under the Securities Act and the Note to Part I of Form S-8. The documents containing information specified in this Part I will be separately provided to the participants covered by the Plan, as specified by Rule 428(b)(1) under the Securities Act.

 

PART II

 

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 3.              Incorporation of Documents by Reference

 

The following documents previously filed by Fangdd Network Group Ltd. (the “Registrant”) with the Securities and Exchange Commission (the “Commission”) are incorporated by reference herein:

 

(a)         The Registrant’s prospectus dated October 31, 2019 filed with the Commission on November 1, 2019 pursuant to Rule 424(b)(4) under the Securities Act; and

 

(b)         The description of the Registrant’s Class A ordinary shares incorporated by reference in the Registrant’s registration statement on Form 8-A (File No. 001-39109) filed with the Commission on October 23, 2019, including any amendment and report subsequently filed for the purpose of updating that description.

 

All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), after the date of this registration statement and prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof from the date of filing of such documents. Any statement in a document incorporated or deemed to be incorporated by reference in this registration statement will be deemed to be modified or superseded to the extent that a statement contained in this registration statement or in any other later filed document that also is or is deemed to be incorporated by reference modifies or supersedes such statement. Any such statement so modified or superseded will not be deemed, except as so modified or superseded, to be a part of this registration statement.

 

Item 4.              Description of Securities

 

Not applicable.

 

 Item 5.           Interests of Named Experts and Counsel

 

Not applicable.

 

 Item 6.           Indemnification of Directors and Officers

 

Cayman Islands law does not limit the extent to which a company’s articles of association may provide for indemnification of directors and officers, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. The Registrant’s currently effective amended and restated articles of association, adopted by its shareholders on October 8, 2019, provides that the Registrant shall indemnify its directors and officers against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by such persons in their capacity as such, except through any dishonesty, willful default or fraud.

 

2


 

Pursuant to the indemnification agreements, the form of which was filed as Exhibit 10.2 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-234130), the Registrant has agreed to indemnify its directors and officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being such a director or officer.

 

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

 

The Registrant also maintains a directors and officers liability insurance policy for its directors and officers.

 

Item 7.              Exemption From Registration Claimed

 

Not applicable.

 

Item 8.              Exhibits

 

See the Index to Exhibits attached hereto.

 

Item 9.              Undertakings

 

(a)              The undersigned Registrant hereby undertakes:

 

(1)              To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

 

(i)                  to include any prospectus required by Section 10(a)(3) of the Securities Act;

 

(ii)               to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement; and

 

(iii)            to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to that information in the registration statement;

 

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this registration statement;

 

(2)              That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(3)              To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

 

3


 

(b)              The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(c)               Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

4


 

EXHIBIT INDEX

 

Exhibit
Number

 

Description

 

 

 

4.1

 

Fifth Amended and Restated Memorandum of Association of the Registrant, adopted on October 8, 2019 (incorporated herein by reference to Exhibit 3.2 to the registration statement on Form F-1, as amended (File No. 333-234130))

 

 

 

4.2

 

Registrant’s Specimen Certificate for Class A Ordinary Shares (incorporated herein by reference to Exhibit 4.2 to the registration statement on Form F-1, as amended (File No.  333-234130)

 

 

 

4.3*

 

Deposit Agreement, dated October 31, 2019, among the Registrant, The Bank of New York Mellon, as depositary and owners and holders of the American Depositary Shares

 

 

 

5.1*

 

Opinion of Maples and Calder (Hong Kong) LLP, regarding the validity of the Class A ordinary shares being registered

 

 

 

10.1*

 

Amended and Restated 2018 Share Incentive Plan

 

 

 

23.1*

 

Consent of KPMG Huazhen LLP

 

 

 

23.2*

 

Consent of Maples and Calder (Hong Kong) LLP (included in Exhibit 5.1)

 

 

 

24.1*

 

Power of Attorney (included on signature page hereto)

 


*  Filed herewith.

 

5


 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Shenzhen, China, on March 31, 2020.

 

 

Fangdd Network Group Ltd.

 

 

 

 

By:

/s/ Yi Duan

 

Name:

Yi Duan

 

Title:

Chairman of the Board of Directors and Co-Chief Executive Officer

 

6


 

POWER OF ATTORNEY

 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints, severally and not jointly, each of Yi Duan and Xi Zeng, with full power to act alone, as his true and lawful attorney-in-fact, with the power of substitution, for and in such person’s name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact full power and authority to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact may lawfully do or cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed on March 31, 2020 by the following persons in the capacities indicated.

 

Signature

 

Title

 

 

 

/s/ Yi Duan

 

Chairman and Co-Chief Executive Officer

Yi Duan

 

(Principal Executive Officer)

 

 

 

/s/ Xi Zeng

 

 

Xi Zeng

 

Director and Co-Chief Executive Officer

 

 

 

/s/ Jiancheng Li

 

 

Jiancheng Li

 

Director and Chief Technology Officer

 

 

 

/s/ Li Xiao

 

 

Li Xiao

 

Director

 

 

 

/s/ Zhe Wei

 

 

Zhe Wei

 

Director

 

 

 

/s/ Ronald Cao

 

 

Ronald Cao

 

Director

 

 

 

/s/ Johnny Kar Ling Ng

 

 

Johnny Kar Ling Ng

 

Director

 

 

 

/s/ Weiru Chen

 

 

Weiru Chen

 

Director

 

 

 

/s/ Jiaorong Pan

 

 

Jiaorong Pan

 

Director and Chief Financial Officer

 

 

(Principal Financial and Accounting Officer)

 

7


 

SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES

 

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Fangdd Network Group Ltd., has signed this registration statement or amendment thereto in Newark, Delaware, United States of America on March 31, 2020.

 

 

Authorized U.S. Representative

 

 

 

 

By:

/s/ Donald J. Puglisi

 

Name:

Donald J. Puglisi

 

Title:

Managing Director

 

8


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