Futu News reported on September 27th, $Fangdd Network (DUO.US)$N/A.$KE Holdings (BEKE.US)$ Today's pre-market trading continues the uptrend from yesterday. As of the time of publication, Fangdd Network is up by 30.84%, trading at $1.40, with pre-market trading volume reaching $0.9952 million; Ke Holdings is up by 4.16%, trading at $20.51, with pre-market trading volume reaching $1.068 million.

It is worth noting that Fangdd Network surged over 180% at one point during trading yesterday, closing with a 114% increase and a trading volume of $0.283 billion, with a turnover ratio of over 40 times.

On the news front, the central bank today simultaneously implemented a reserve requirement ratio cut and an interest rate cut, releasing 1 trillion liquidity. The central bank's official website released an announcement on open market operations, lowering the 7-day reverse repurchase operation rate by 0.2 percentage points, from the previous 1.70% to 1.50%. At the same time, official news shows that the People's Bank of China has decided: starting from September 27, 2024, to reduce the reserve requirement ratio for financial institutions by 0.5 percentage points (excluding financial institutions that have already implemented a 5% reserve requirement ratio).

Yesterday, the meeting of the Political Bureau of the CPC Central Committee emphasized the need to promote the stabilization of the real estate market. For the construction of commercial housing, it is necessary to strictly control the increment, optimize the stock, improve the quality, increase the intensity of lending for 'white list' projects, and support the activation of idle land in stock. The meeting called for addressing public concerns, adjusting housing purchase restrictions, lowering interest rates on existing housing loans, and urgently improving land, fiscal, financial, and other policies to promote the establishment of a new model for real estate development.

Previously, on September 24th, the Governor of the People's Bank of China, Pan Gongsheng, announced at a State Council Information Office press conference that he would lower interest rates on existing housing loans and unify the minimum down payment ratio for housing loans, guiding commercial banks to lower interest rates on existing housing loans to levels close to those of newly issued housing loans.

About the company

Fangdd Network is a leading real estate technology company in China, focusing on digital services for real estate transactions. The company operates a real estate online platform in China, developing a series of modular software products and SaaS solutions to simplify real estate transaction processes, enhance the business efficiency of market participants. By increasing transaction transparency and efficiency, Fangdd Network provides a better transaction experience for real estate sellers, intermediaries, and buyers.

Ke Holdings is a digital service platform for the residential industry, dedicated to promoting the digitization and intelligence of residential services. The company aggregates high-quality service providers to offer Chinese families one-stop high-quality services such as second-hand housing, new home transactions, leasing, home decoration, and home furnishings, realizing the concept of 'treating consumers well and helping service providers treat consumers well'.