BEIJING, April 25,
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 NYSE Regulation indicating that
NYSE's Listings Operations Committee agreed to provide the Company
with an additional trading period through May 17, 2022, subject to reassessment on an
ongoing basis, to complete and file the Company's annual report on
Form 20-F for the year ended December 31, 2020 (the "2020
Form 20-F") and current report on Form 6-K for the half year
ended June 30, 2021 (the "2021
Semi-Annual Financial Information", collectively with the 2020 Form
20-F, the "Delayed Filings") with the Securities and Exchange
Commission (the "SEC") and any subsequent delayed filings pursuant
to the NYSE's late filer rules outlined in
Section 802.01E of the NYSE Listed Company Manual.
The Company has been in ongoing cooperation and correspondence
with the NYSE on the late filing issue. NYSE Regulation
notified the Company that the NYSE will closely monitor the
Company's progress with its interim milestones submitted to the
NYSE. Failure to achieve these interim milestones could result in
accelerated trading suspension prior to the end of the May 17, 2022 trading period. In addition, in the
event that the Company does not complete its Delayed Filings and
any subsequent delayed filings with the SEC by the end of the
maximum 12-month cure period on May 17, 2022, the NYSE will
move forward with the initiation of suspension and delisting
procedures.
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 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 U.S. Securities
and Exchange Commission.
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SOURCE Fang Holdings Limited
