BEIJING, May 18, 2022
/PRNewswire/ -- Fang Holdings Limited (NYSE: SFUN) ("Fang" or
the "Company"), a leading real estate Internet portal in
China, today announced that it
received a notice from the NYSE Regulation staff regarding the
commencement of delisting proceedings of the Company's American
depositary shares (the "ADSs") on the basis that the ADSs are not
suitable for listing due to the Company's failure to file with the
Securities and Exchange Commission its annual report on Form 20-F
for the year ended December 31, 2020
and current report on Form 6-K for the half year ended June 30, 2021 by May 17,
2022, which is the maximum time allowed under Section
802.01E of the NYSE's Listed Company Manual.
The NYSE suspended the trading in the ADSs on May 18, 2022. The Company has until June 2, 2022 to submit a written request to
appeal the NYSE Regulation staff's delisting decision.
About Fang
Fang operates a leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through its websites,
Fang provides primarily marketing, listing, leads generation and
financial services for China's
fast-growing real estate and home furnishing and improvement
sectors. Its user-friendly websites support active online
communities and networks of users seeking information on, and
value-added services for, the real estate and home furnishing and
improvement sectors in China. Fang
currently maintains approximately 70 offices to focus on local
market needs and its website and database contains real estate
related content covering 658 cities in China. For more information about Fang, please
visit http://ir.fang.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Such forward-looking statements are made under
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the results of the
winding-up petition and application for appointment of provisional
liquidators. These forward-looking statements can be identified by
terminology such as "will," "expects," "is expected to,"
"anticipates," "aim," "future," "intends," "plans," "believes,"
"are likely to," "estimates," "may," "should" and similar
expressions, and include, without limitation, statements regarding
Fang's future financial performance, revenue guidance, growth and
growth rates, market position and continued business
transformation. Such statements are based upon management's current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond Fang's control, which may cause its actual
results, performance or achievements to differ materially from
those in the forward-looking statements. Potential risks and
uncertainties include, without limitation, the outcome of the
appeal (to the extent lodged by Fang) of the NYSE Regulation
staff's delisting decision, the impact of Fang's business
development strategies, the Fang's ability to continue as a going
concern in the future, the impact of the COVID-19 pandemic, and the
impact of current and future government policies affecting
China's real estate market.
Further information regarding these and other risks, uncertainties
or factors is included in Fang's filings with the Securities and
Exchange Commission.
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SOURCE Fang Holdings Limited