BEIJING, Oct. 9 (Xinhua) – China's online real estate trading platform Fangdd.com officially submitted its IPO application to the US Securities and Exchange Commission (SEC) on Wednesday, the Xinhua-run Shanghai Securities News reported.
According to the report, it might become the first stock of China's industrial Internet Software as a Service (SaaS).
Data shows that by the end of December this year, among nearly 2 million property brokerage firms in China, the number of registered brokers in the platform exceeded 910,000 and the penetration rate surpassed 45 percent.
Founded in 2011, the Shenzhen-based company earned about 100.3 million yuan in net profits in the January-June period of this year.
(Edited by Yang Yifan, firstname.lastname@example.org)