Document:

EX-10.10

 Exhibit 10.10 

Operation and Maintenance Service Agreement 

Between 
 Shenzhen Fangdd Network
Technology Co, Ltd. 
 (Service Receiver) 

And 
 Shenzhen Fangdd Information
Technology Co, Ltd. 
 (Service Provider) 

March 2014 

 Table of Contents 
  

					
	 1.  Definitions
	  	 	3	 
		
	 2.  Entrustment
	  	 	4	 
		
	 3.  Scope of Comprehensive Services
	  	 	4	 
		
	 4.  Authorization
	  	 	5	 
		
	 5.  Payment and Settlement of Comprehensive Service Charges
	  	 	5	 
		
	 6.  Party A’s Undertakings
	  	 	7	 
		
	 7.  Party B’s Undertakings
	  	 	7	 
		
	 8.  Taxes
	  	 	8	 
		
	 9.  Representations and Warranties
	  	 	8	 
		
	 10.  Indemnity and Limitation of Liability
	  	 	8	 
		
	 11.  Liability for Breach of Contract
	  	 	9	 
		
	 12.  Force majeure
	  	 	9	 
		
	 13.  Termination
	  	 	10	 
		
	 14.  Governing Law and Dispute Resolution
	  	 	10	 
		
	 15.  Notices
	  	 	11	 
		
	 16.  Miscellaneous Provisions
	  	 	11	 

 Operation and Maintenance Service Agreement 

This Operation and Maintenance Service Agreement (hereinafter referred to as the“Agreement”) is made in Shenzhen, the People’s Republic of
China (“PRC”) as of March 21, 2014 by and between: 
  

	(1)	 Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial
Residential Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal representative (“Party A”); and 

  

	(2)	 Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower,
Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with Yi Duan as its legal representative (“Party B”); 

Party A and Party B are hereinafter collectively referred to as the “Parties” and individually as a “Party” or “Other Party.”

 Whereas: 
  

	1.	 Party A is a limited liability company established in accordance with the laws of the PRC. The business scope
and main business of Party A cover “technology development, technical consultation, technical service and technology transfer in the field of network technology and information technology, computer software and hardware development and sales,
advertising business, marketing planning, business information consultation, real estate brokerage, investment consultation, computer network product technology development and domestic trade (excluding those prohibited by the laws, administrative
regulations and decisions of the State Council, and items restricted thereby can be operated only after obtaining the permission)” (“Main Business”); 

 

	2.	 Party B is a foreign-funded enterprise established in accordance with the laws of the PRC and has rich
experience and human resources in technology R&D, market promotion and daily operation and maintenance of facilities and systems; 

  

	3.	 Party A desires to entrust Party B to provide Party A with operation and maintenance services related to its
Main Business, and Party B is intended to accept the entrustment from Party A to provide it with relevant services. 

 NOW, THEREFORE,
after friendly consultation, the Parties hereby agree as follows: 
  

	1.	 Definitions 

Unless otherwise stipulated herein, the following terms shall have the meaning ascribed to them as follows: 

 

	 	1.1	 “Main Business” has the meaning set forth in the whereas clause hereof. 

 

	 	1.2	 “Facilities and Systems” mean hardware equipment and software systems purchased by Party A or Party B
for the Main Business, including but not limited to servers, computers and application software. 

  

	 	1.3	 “Market Promotion Services” mean any promotion services for the Main Business which are provided by
Party B to Party A in accordance with this Agreement. The purpose of such services is to expand the visibility of Party A and increase the number of users of Party A. 

	 	1.4	 “Operation and Maintenance Services” mean any system operation and maintenance services provided by
Party B to Party A. 

  

	 	1.5	 “Comprehensive Services” mean market promotion services and operation and maintenance services.

  

	 	1.6	 “Comprehensive Service Charges” mean any charges payable by Party A to Party B as set forth in Clause
5.1 hereof in respect of the comprehensive services as set forth in Clause 3 hereof which are provided by Party B to Party A pursuant to this Agreement. 

  

	 	1.6	 “Cooperation Period” means the period beginning on the date of signing of this Agreement and ending
on the date of termination of Party B’s operation period and such early termination period as may be confirmed in writing by the Parties. 

  

	 	1.7	 “Prudent Industry Practices” mean any recognized standards that may be amended from time to time for
the operation, maintenance and management of Facilities and Systems by enterprises which are engaged in the same or similar business as Party B to the extent of safety, efficiency, economy, reliability and related manufacturer’s
recommendations. 

  

	2.	 Entrustment 

Party A hereby designates Party B as its provider of comprehensive services, and Party B accepts Party A’s entrustment and agrees to
provide comprehensive services to Party A in accordance with the terms and conditions of this Agreement. 
  

	3.	 Scope of Comprehensive Services 

 

	 	3.1	 During the Cooperation Period, Party B shall provide Party A with the following market promotion services to
Party A in a loyal and efficient manner: 

  

	 	3.1.1	 To draw up a promotion plan in accordance with the market practices for the business of Party A;

  

	 	3.1.2	 To organize the implementation of the above promotion plan; 

 

	 	3.1.3	 To seek, select and contact real estate developers and real estate intermediary service organizations for Party
A, and to promote the establishment and maintenance of the cooperation relationship between Party A and such organizations; 

  

	 	3.1.4	 To coordinate and deal with other third party matters involved in Party A’s business.

  

	 	3.2	 During the Cooperation Period, Party B shall provide Party A with the following operation and maintenance
services to Party A in a loyal and efficient manner: 

  

	 	3.2.1	 To purchase from relevant suppliers any hardware equipment and software system required by Party A according to
Party A’s business development planning and construction plan; 

	 	3.2.2	 To be responsible for the daily operation and maintenance of Facilities and Systems related to Party A’s
business in accordance with Prudent Industry Practices and operating instructions agreed upon by the parties; 

  

	 	3.2.3	 To be responsible for the daily inspection, overhaul, urgent repair and other maintenance of Facilities and
Systems related to Party A’s business. 

  

	 	3.2.4	 To be responsible for coordination, communication and business negotiation with the IDC service provider.

  

	 	3.3	 In addition to the services as set out in Sub-clauses 3.1 and 3.2
hereof above, the comprehensive services provided by Party B to Party A under this Agreement shall also include any other market promotion services and operation and maintenance services provided at Party A’s request. 

 

	4.	 Authorization 

 

	 	4.1	 In order to enable Party B to provide comprehensive services more efficiently, Party A hereby irrevocably
appoints Party B (and any of its assignees or sub-assignees) as its agent to, on behalf of and in the name of Party A or otherwise (at its own discretion), 

 

	 	4.1.1	 sign relevant documents or other documents with any third parties (including but not limited to suppliers and
customers); 

  

	 	4.1.2	 handle any matters that Party A is obligated to handle under this Agreement but has not handled; and

  

	 	4.1.3	 sign all necessary documents and handle all necessary matters so that Party B can fully exercise all or any of
its rights under this Agreement. 

  

	 	4.2	 Where necessary, Party A shall, at Party B’s request, issue an independent power of attorney to Party B at
any time in respect of a certain matter. 

  

	 	4.3	 Party A shall retroactively recognize and confirm any matters that the agent handles or intends to handle
pursuant to the terms of appointment as set forth herein. 

  

	5.	 Payment and Settlement of Comprehensive Service Charges 

 

	 	5.1	 In consideration of Party B’s provision of comprehensive services to Party A, Party B shall collect
comprehensive service charges from Party A based on the amount of the following expenses and with reference to the reference prices for similar services on the market. Subject to the provision of relevant services by Party B according to the terms
and conditions of this Agreement, the maximum comprehensive service charges to be collected by Party B may reach the full balance of Party A’s total income after deduction of its costs and expenses. 

 

	 	5.1.1	 Wages, salaries and welfare expenses of the following personnel of Party B who provide services to Party A:

  

	 	a)	 Operation managers of related business; 

 

	 	b)	 Customer service personnel; 

 

	 	c)	 Testers; 

  

	 	d)	 Market expansion and business development personnel; 

 

	 	5.1.2	 Expenses paid by Party B for the purchase of bought-in software,
servers, computers or other electronic equipment to provide services to Party A. Such expenses shall be apportioned and paid by depreciation in accordance with the relevant provisions of Chinese accounting standards and tax laws.

	 	5.1.3	 Bandwidth rental fees and IDC custodian fees paid by Party B to the network access service provider in order to
provide services to Party A. Party B shall obtain Party A’s approval before signing the relevant agreement with the network access service provider to determine the bandwidth rental fees and IDC custodian fees. 

 

	 	5.1.4	 Rental fees and renovation costs of the office space (including office furniture) leased by Party B to provide
services to Party A. The Parties agree that the rental fees and renovation costs of such office space shall be the proportion of the number of Party B’s personnel who provide services to Party A according to Clause 5.1.1 hereof to the total
number of Party B’s employees multiplied by the sum of the rental fees and renovation costs of Party B’s leased office space, in which the renovation costs shall be amortized on a monthly basis, and the calculation method shall conform to
the relevant provisions of Chinese accounting standards and tax laws. 

  

	 	5.1.5	 Advertising fees and other market promotion expenses paid by Party B for the promotion of Party A’s
products. 

  

	 	5.1.6	 Other reasonable expenses related to operation incurred by Party B’s personnel who provide services to
Party A, including but not limited to traveling expenses, transportation costs, telephone rates and mailing fees. 

  

	 	5.1.7	 Expenses incurred by Party B’s logistics support department, including wages, salaries and welfare
expenses of logistics personnel and other reasonable expenses related to operation. The expenses incurred by Party B’s logistics support department shall be calculated at 50% of the total expenses thereof. 

The Parties agree that Party B shall reserve the right to adjust the above expenses. If Party B determines the adjustment of the above
expenses, it shall notify Party A in writing. 
  

	 	5.2	 Party B shall summarize the comprehensive service charges on an annual basis and notify Party A of the
comprehensive service charges for the previous year within thirty days from the date of the beginning of each year. Party A shall, within 30 days after Party B gives the above notice, pay the amount of the comprehensive service charges contained in
such notice to Party B’s designated bank account. Party A shall adjust at any time the time and method of payment of the service charges in accordance with Party B’s specific requirements. 

 

	 	5.3	 In case of any delay in payment by Party A of any amount payable under this Agreement, Party A shall pay a
default fine for the overdue payment to Party B in accordance with this Agreement. Such default fine for the overdue payment shall be calculated on the basis of 0.04% of the overdue payment per day from the due date of payment to the date on which
Party B receives the full payment (together with such default fine). 

	6.	 Party A’s Undertakings 

Party A agrees and undertakes that, during the Cooperation Period, 
  

	 	6.1	 Party A shall, at Party B’s reasonable request from time to time, allow Party B or its assignees to
consult and obtain any financial reports, financial statements and other information relating to Party A’s financial information, business and operating conditions; 

 

	 	6.2	 Party A shall, at Party B’s request, provide Party B with all materials and information required for Party
B’s provision of the services as set forth in this Agreement, and shall ensure the authenticity and accuracy of such materials and information; 

  

	 	6.3	 Party A shall obtain at its own expense all government approvals, permits and licenses relating to its Main
Business and other business, and shall maintain them in full force and effect; 

  

	 	6.4	 If Party A is informed of any breach of this Agreement, it shall notify Party B promptly and provide Party B
with the details of any measures that Party A is taking or plans to take to remedy or mitigate any consequences arising from such event and to protect Party B’s rights and interests under this Agreement; 

 

	 	6.5	 Party A shall comply with and observe the terms and conditions of this Agreement during the Cooperation Period,
and Party A shall not procure or permit any operation of its related business in any way contrary to the laws or regulations of the PRC; 

  

	 	6.6	 Party A shall pay and discharge or cause to be paid and discharged all debts due and payable and damages;

  

	 	6.7	 Party A shall promptly pay any registration fees, taxes, fines, penalties or interests thereon to be paid by it
in accordance with the law 

  

	 	6.8	 Party A shall promptly provide Party B with all agreements relating to the operation of the business as may be
reasonably required by Party B from time to time, and shall keep any relevant accurate, complete and up-to-date records. 

 

	 	6.9	 Unless approved by the Board of Directors of Party B and agreed in writing, Party A shall not engage any third
parties to provide it with all or part of the services under this Agreement. 

  

	7.	 Party B’s Undertakings 

Party B agrees and undertakes that, during the Cooperation Period, 
  

	 	7.1	 Party B shall obtain all government approvals, permits and licenses required for the provision of integrated
services, and shall maintain them in full force and effect; 

	 	7.2	 If Party B is informed of any breach of this Agreement, it shall notify Party A promptly and provide Party A
with the details of any measures that Party B is taking or plans to take to remedy or mitigate any consequences arising from such event and to protect Party A’s rights and interests under this Agreement; 

 

	 	7.3	 Party B shall, during the duration of this Agreement, comply with and observe the terms and conditions as set
forth in this Agreement, and Party B shall not provide its integrated services in any way contrary to the laws or regulations of the PRC; 

  

	 	7.4	 Party B shall employ sufficient and qualified employees to perform its obligations to provide integrated
services under this Agreement. Party B shall ensure that any employees employed by it provide services to Party A in a loyal and efficient manner; 

  

	 	7.5	 Party B shall formulate specific regulations for management of integrated service in accordance with Prudent
Industry Practices. Party B shall also establish, record and maintain any data and archives of its outsourced management comprehensive services in accordance with Prudent Industry Practices; 

 

	 	7.6	 Party B shall establish and maintain accurate, complete and up-to-date records for the provision of integrated services. 

  

	8.	 Taxes 

  

	 	8.1	 The Parties agree that any taxes payable by each party for the performance of this Agreement shall be paid by
such party in accordance with the relevant laws and regulations of the PRC. 

  

	 	8.2	 The Parties shall pay their respective expenses in relation to this Agreement. 

 

	9.	 Representations and Warranties 

Each party represents and warrants to the other party that, as of the date of signing of this Agreement, 

 

	 	9.1	 such party shall have the full powers, rights and authority to enter into this Agreement and to perform each of
its obligations under this Agreement; 

  

	 	9.2	 Any provisions of this Agreement shall constitute the legal, effective and binding obligations of such party.

  

	 	9.3	 Neither the signing of this Agreement by such Party nor the performance of its obligations under this Agreement
shall contravene, conflict with or cause any breach of the terms, provisions or conditions of such party’s articles of association or other legal documents or constitute a non-performance of the above
terms, provisions or conditions. 

  

	10.	 Indemnity and Limitation of Liability 

 

	 	10.1	 Indemnity 

  

	 	10.1.1	 Party B shall be liable for, indemnify and hold harmless Party A from and against all losses, damages,
costs, liabilities, actions, penalties or any other relevant expenses incurred by Party A due to any willfulness or gross neglect of duty by Party B’s employees, including but not limited to any legal costs and expenses incurred by Party A
therefor. 

	 	10.1.2	 Party A shall be liable for, indemnify and hold harmless Party B from and against all losses, damages, costs,
liabilities, actions, penalties or any other relevant expenses incurred by Party B due to any willfulness or gross neglect of duty by Party A’s employees, including but not limited to any legal costs and expenses incurred by Party B therefor.

  

	 	10.2	 Limitation of Liability 

 

	 	10.2.1	 Notwithstanding the provisions of Clause 10.1.1 hereof, within each contract year, Party B’s indemnity
liability under Clause 10.1.1 hereof shall be limited to the integrated service charges actually collected by Party B in the year of the end of the liability event. 

 

	 	10.2.2	 Notwithstanding the provisions of Clause 10.1.2 hereof, within each contract year, Party A’s indemnity
liability under Clause 10.1.2 hereof shall be limited to the amount of the integrated service charges that Party B is entitled to collect in the year of the end of the liability event. 

 

	11.	 Liability for Breach of Contract 

 

	 	11.1	 The Parties shall consciously perform this Agreement based on the principle of good faith. Except as otherwise
agreed herein, if either party breaches this Agreement, such party shall be liable for its breach of this Agreement in accordance with this Agreement and the applicable law. Notwithstanding the foregoing, neither party shall be liable to the other
party for any indirect losses or damages under this Agreement. 

  

	 	11.2	 The Parties agree and acknowledge that, for any breach of this Agreement during the Cooperation Period, the
claim for damages and the specific performance shall be the full and all remedies available to the observant party; in any case during the Cooperation Period, the observant party shall waive its right to request the termination of this Agreement
under any applicable law due to any breach of this Agreement by the breaching party. 

  

	 	11.3	 Notwithstanding any other provisions of this Agreement, the validity of Article 11 hereof shall not be affected
by the termination of this Agreement. 

  

	12.	 Force majeure 

Force majeure under this Agreement means natural disasters, wars, political events and adjustments of laws, regulations and national policies.
If any force majeure event directly affects the performance of this Agreement by either party on such terms and conditions as may be agreed upon by it, such party shall promptly notify the Other Party or its authorized agent of such event, and
shall, within fifteen (15) days, provide the details of such force majeure and the reasons and valid supporting documents (issued by the notary office in the place where such force majeure occurs) for the failure to perform or fully perform
this Agreement or the necessity to delay the performance of this Agreement. The Parties shall, to the extent of the impact of such force majeure on the performance of this Agreement, decide through consultation on the performance of this Agreement
and whether to agree to the incomplete performance, delay in performance or non-performance by the party involved in such force majeure event of its obligations under this Agreement.    

	13.	 Termination 

  

	 	13.1	 This Agreement shall be canceled only if: 

 

	 	13.1.1	 The Parties unanimously agree to terminate this Agreement; 

 

	 	13.1.2	 The Cooperation Period has expired, and the Parties are not intended to extend the Cooperation Period; or

  

	 	13.1.3	 Any force majeure events render the performance of this Agreement to become impossible. 

 

	 	13.2	 Rights and obligations of the Parties upon termination 

 

	 	13.2.1	 If this Agreement is terminated pursuant to Sub-Clause13.1.1 hereof
above, any rights and obligations of the Parties upon termination shall be subject to the termination between the Parties; 

  

	 	13.2.2	 If this Agreement is terminated pursuant to Sub-Clause 13.1.2 hereof
above, the Parties shall immediately conduct settlement in accordance with the provisions of this Agreement for the annual settlement; or 

  

	 	13.2.3	 If this Agreement is terminated pursuant to Sub-Clause 13.2.3 hereof
above, the Parties shall immediately conduct settlement in accordance with the provisions of this Agreement for the annual settlement, and each Party shall not assume any obligations to the Other Party from the completion of the settlement, provided
that such party shall not be discharged from its liability for breach of this Agreement prior to the occurrence of the force majeure events. 

  

	14.	 Governing Law and Dispute Resolution 

 

	 	14.1	 This Agreement shall be governed by and construed in accordance with the published and publicly available laws
of the PRC, provided that if the published and publicly available laws do not provide for any specific matters relating to this Agreement, reference shall be made to general international business practices. 

 

	 	14.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved through friendly consultation between the Parties. 

  

	 	14.3	 If any disputes can not be resolved through consultation within 60 days after one Party notifies the Other
Party of its opinion on such disputes, either Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the arbitration rules of Hong Kong
International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on either Party hereto.

	15.	 Notices 

  

	 	15.1	 Any notices or other communications given by either Party under this Agreement shall be in writing and shall be
delivered by personal delivery, letter or fax to the address of the other party as set forth below or such other designated address as may be notified by the Other Party to such party from time to time. The date on which any notices are deemed to
have been actually delivered shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have
been actually delivered on the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the
acknowledgement of transmission of the relevant document; (d) if sent by email, they shall be deemed to have been actually delivered when an email enters the electronic data interchange system of the email address provided by the party to be
served.     

 Party A: Shenzhen Fangdd Network 

     Technology Co, Ltd. 

     Contact: Jiancheng Li 

     Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District,
Shenzhen 
      Postal Code: 518000 

     Fax: 0755-26998968 

     E-mail: ljc@fangdd.com 

Party B: Shenzhen Fangdd Information 

     Technology Co, Ltd. 

     Contact: Jiancheng Li 

     Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District,
Shenzhen 
      Postal Code:    518000 

     Fax:    0755-26998968 

     E-mail: ljc@fangdd.com 

 

	16.	 Miscellaneous Provisions 

 

	 	16.1	 This Agreement shall enter into force on the date of signature and seal by the Parties hereto.

  

	 	16.2	 Any amendment, waiver, cancellation or termination of any provisions of this Agreement shall be in writing and
shall not enter into force until signed by the Parties hereto. 

  

	 	16.3	 Without the written consent of the other party hereto, either Party hereto shall not divulge, use or apply any
form of information in relation to the Other Party and/or this Agreement, including but not limited to the signing of this Agreement and the contents of this Agreement. The confidentiality obligations as set forth in this sub-clause shall survive the termination of this Agreement, provided that the provisions of this sub-clause shall not (1) apply to any disclosure by either party of any
confidential information to its affiliates, professional consultants and employees of each party hereto, provided that in such a case such information shall be disclosed only to any persons or entities that need to know such information for their
reasonable business; (2) prevent either party from making any announcement or disclosure as required by the applicable laws, regulations or rules of the stock exchange based on its good faith judgment.    

	 	16.4	 This Agreement shall constitute an entire agreement between the Parties in respect of the subject matter of
this Agreement and supersede any prior expressions of intent or understandings in relation to this Agreement, and shall not be modified or amended unless made in writing and signed by the respective authorized representative of the Parties hereto.

  

	 	16.5	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by either party of its rights, powers and remedies shall preclude any exercise by such party of its other
rights, powers and remedies. 

  

	 	16.6	 To the extent permitted by the laws of the PRC, no failure or delay by either party hereto in the exercise of
all its rights under this Agreement shall be deemed to be a waiver of such rights; no single or partial exercise of a right shall preclude any further exercise of such right in the future. 

 

	 	16.7	 All provisions of this Agreement may be separated and distinguished from each other. No invalidity, illegality
or unenforceability of any provisions of this Agreement shall affect or impair the validity, legality or enforceability of any other provisions of this Agreement. 

 

	 	16.8	 This Agreement is executed in four (4) copies, two (2) of which shall be held by each party
respectively. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Operation and Maintenance Service
Agreement between Shenzhen Fangdd Network Technology Co, Ltd. and Shenzhen Fangdd Information Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the parties
have personally executed or caused their respective legally authorized representative to execute this Agreement as of the date first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 
 /s/ Shenzhen
Fangdd Network Technology Co, Ltd. 
 Signature of Legal Representative: 

/s/ Yi Duan             

Yi Duan 

 (This page is intentionally left blank as the signature page of the Operation and Maintenance Service
Agreement between Shenzhen Fangdd Network Technology Co, Ltd. and Shenzhen Fangdd Information Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the parties
have personally executed or caused their respective legally authorized representative to execute this Agreement as of the date first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 
 /s/
Shenzhen Fangdd Information Technology Co, Ltd. 
 Signature of Legal Representative: 

/s/ Yi Duan 
 Yi DuanEX-10.11

 Exhibit 10.11 

Purchase Option Agreement 
 Among

 Shenzhen Fangdd Information Technology Co, Ltd., 

(Purchase Option Holder) 
 Li Zhou

 (Purchase Option Obligor) 

And 
 Shenzhen Fangdd Network
Technology Co, Ltd., 
 March 2014 

 Table of Contents 
  

							
	 1
	  	Purchase Option	  	 	3	 
			
	 2
	  	Undertakings of Party B and Party C	  	 	5	 
			
	 3
	  	Representations and Warranties of Party B and Party C	  	 	8	 
			
	 4
	  	Breach of Contract	  	 	8	 
			
	 5
	  	Assignment	  	 	9	 
			
	 6
	  	Entry into Force and Term	  	 	10	 
			
	 7
	  	Termination	  	 	10	 
			
	 8
	  	Taxes and Fees	  	 	10	 
			
	 9
	  	Confidentiality Obligations	  	 	10	 
			
	 10
	  	Notices	  	 	11	 
			
	 11
	  	Governing Law and Dispute Resolution	  	 	12	 
			
	 12
	  	Miscellaneous Provisions	  	 	12	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of March 21, 2014 by and
among: 
  

			
	Party A:	  	Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower, Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with
Yi Duan as its legal representative;
		
	Party B:	  	Li Zhou, having its domicile at ******, Shanghai and holding its ID card No. ******************;
		
	Party C:	  	Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal
representative.

 The parties hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively
as the “Parties”. 
 Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 8.87% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on March 21, 2014; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on March 21, 2014. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method.    

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets.     

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC.     

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase
Option.     
  

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same
area;     

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income;     

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C;     

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions;     

 

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company;     

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means.     

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect.     

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served.                 

 

			
	Party A:	 	 Shenzhen Fangdd Information Technology Co, Ltd.

Contact: Jiancheng Li
 Correspondence Address: 17/F, Yanxiang
Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen
 Postal Code: 518000

Fax:    0755-26998968
 E-mail: ljc@fangdd.com

	Party B:	 	 Li Zhou
 Address: **** Suzhou City, Jiangsu
Province
 Postal Code: 215124
 Fax: 0755-26998968

E-mail: 569672462@fangdd.com

			
	Party C:	 	 Shenzhen Fangdd Network Technology Co, Ltd.

Contact: Jiancheng Li
 Address: 17/F, Yanxiang Science
and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen
 Postal Code: 518000

Fax: 0755-26998968

E-mail: ljc@fangdd.com

  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement.     

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof.     

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement.     

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Li Zhou and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/ Shenzhen Fangdd Information Technology Co, Ltd. 
 Signature
of Legal Representative: 
 /s/ Yi Duan             

Yi Duan 

 Annex 1 

Purchase Notice 
 To: Li Zhou 

Purchase to the Purchase Option Agreement entered by you and Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) dated March 21,
2014, we hereby inform you and require you to transfer _____% equity interest of the Company held by you to _______________________ at a consideration of ____________. Upon your receipt of this notice, you are required to sign the Equity Interest
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.
		
	(signature)	 	   

 
			
		
	Date:	 	 

 Purchase Notice (Asset) 

To: Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) 

Pursuant to the Purchase Option Agreement entered by and between you and the Company on March 21, 2014, we hereby notify you and require you to
transfer the asset_______________ owned by you to ___________________ at a consideration of ______________ (in accordance with the name, type, quantify and model of the asset). Upon your receipt of this notice, you are required to sign the Asset
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.
		
	(signature)	 	   

 
			
		
	Date:	 	   

 Annex 2 

Abandonment of the Right of First Refusal 

Shenzhen Fangdd Network Technology Co, Ltd. (“Fangdd”) is a limited liability company established on October 10, 2011. As a
legally registered shareholder, I, currently hold 8.87% of the equity interest of Fangdd. I agree and undertake to waive, in a permanent and irrevocable manner, my right to purchase all or part of the remaining equity interest of Fangdd (the date of
this statement and the future changes from time to time) and will not impede the transfer of such equity interests in any way. 
  

			
	 Declarant: Li Zhou

		
	Signature:	 	   

 
			
		
	Date	 	   

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Jingjing Huang 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 December 2017 

 Table of Contents 
  

							
	1	  	Purchase Option	  	 	20	 
	2	  	Undertakings of Party B and Party C	  	 	22	 
	3	  	Representations and Warranties of Party B and Party C	  	 	25	 
	4	  	Breach of Contract	  	 	25	 
	5	  	Assignment	  	 	26	 
	6	  	Entry into Force and Term	  	 	27	 
	7	  	Termination	  	 	27	 
	8	  	Taxes and Fees	  	 	27	 
	9	  	Confidentiality Obligations	  	 	27	 
	10	  	Notices	  	 	28	 
	11	  	Governing Law and Dispute Resolution	  	 	29	 
	12	  	Miscellaneous Provisions	  	 	29	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of December 20, 2017 by and
among: 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower,
Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with Yi Duan as its legal representative; 

  

	Party B:	 Jingjing Huang, having its domicile at *****************, Shanghai and holding its ID card No.
******************; 

  

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential
Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal representative. 

 The parties hereto
are hereinafter individually referred to as a “Party” or “Other Party” and collectively as the “Parties”. 
 Whereas:

  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 8.0% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on December 20, 2017; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on June 8, 2017. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“ Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase Option. 

 

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party B:	 Jingjing Huang 

Address: ***************************, Beijing 

Postal Code: 100020 
 Fax: +86 10
8507 6399 
 E-mail: semmyhuang@cdhfund.com 

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Li Zhou and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jingjing Huang and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Jingjing Huang 
  

	
	Signature:
	/s/Jingjing Huang

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jingjing Huang and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Wei Zhang 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 December 2017 

 Table of Contents 
  

							
	 1
	 	 Purchase Option
	  	 	36	 
	 2
	 	 Undertakings of Party B and Party C
	  	 	38	 
	 3
	 	 Representations and Warranties of Party B and Party C
	  	 	41	 
	 4
	 	 Breach of Contract
	  	 	41	 
	 5
	 	 Assignment
	  	 	42	 
	 6
	 	 Entry into Force and Term
	  	 	43	 
	 7
	 	 Termination
	  	 	43	 
	 8
	 	 Taxes and Fees
	  	 	43	 
	 9
	 	 Confidentiality Obligations
	  	 	43	 
	 10
	 	 Notices
	  	 	44	 
	 11
	 	 Governing Law and Dispute Resolution
	  	 	45	 
	 12
	 	 Miscellaneous Provisions
	  	 	45	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of December 20, 2017 by and
among: 
  

			
	Party A:	 	Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower, Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with
Yi Duan as its legal representative;
		
	Party B:	 	Wei Zhang, having its domicile at *****************, Shenzhen, Guangdong Province and holding its ID card No. ******************;
		
	Party C:	 	Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal
representative.

 The parties hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively
as the “Parties”. 
 Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 9% of the equity interests of Party C (“equity interests”) as
a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on December 20, 2017; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on June 8, 2017. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B shall enter into a equity interest transfer
contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase
Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 
  

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase Option. 

 

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party B:	 Wei Zhang 

Address: ***************************, Shenzhen, Guangdong Province 

Postal Code: 518000 
 E-mail: cassie.zhu@decentcaptial.com 

	Party	 C: Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Wei Zhang and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Wei Zhang and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Wei Zhang 
  

	
	Signature: 
	/s/Wei Zhang

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Wei Zhang and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Xi Zeng 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 December 2017 

 Table of Contents 
  

							
	1	  	 Purchase Option
	  	 	52	 
	2	  	 Undertakings of Party B and Party C
	  	 	54	 
	3	  	 Representations and Warranties of Party B and Party C
	  	 	57	 
	4	  	 Breach of Contract
	  	 	57	 
	5	  	 Assignment
	  	 	58	 
	6	  	 Entry into Force and Term
	  	 	59	 
	7	  	 Termination
	  	 	59	 
	8	  	 Taxes and Fees
	  	 	59	 
	9	  	 Confidentiality Obligations
	  	 	59	 
	10	  	 Notices
	  	 	60	 
	11	  	 Governing Law and Dispute Resolution
	  	 	61	 
	12	  	 Miscellaneous Provisions
	  	 	61	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of December 20, 2017 by and
among: 
  

			
	Party A:	 	Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower, Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with
Yi Duan as its legal representative;
		
	Party B:	 	Xi Zeng, having its domicile at *****************, Shenzhen, Guangdong Province and holding its ID card No. ******************;
		
	Party C:	 	Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal
representative.

 The parties hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively
as the “Parties”. 
 Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 16.87% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on December 20, 2017; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on June 8, 2017. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase
Option.     
  

	2	 Undertakings of Party B and Party C 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party	 A: Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party	 B: Xi Zeng 

Address: ***************************, Suzhou, Jiangsu Province 

Postal Code: 215125 
 E-mail: zengxi@fangdd.com 
  

	Party	 C: Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement.     

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Xi Zeng and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Xi Zeng and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 
  

	
	Xi Zeng
	
	Signature: 
	/s/Xi Zeng

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Xi Zeng and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Yi Duan 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 March 2014 

 Table of Contents 
  

							
	 1
	  	Purchase Option	  	 	68	 
	 2
	  	Undertakings of Party B and Party C	  	 	70	 
	 3
	  	Representations and Warranties of Party B and Party C	  	 	73	 
	 4
	  	Breach of Contract	  	 	73	 
	 5
	  	Assignment	  	 	74	 
	 6
	  	Entry into Force and Term	  	 	75	 
	 7
	  	Termination	  	 	75	 
	 8
	  	Taxes and Fees	  	 	75	 
	 9
	  	Confidentiality Obligations	  	 	75	 
	 10
	  	Notices	  	 	76	 
	 11
	  	Governing Law and Dispute Resolution	  	 	77	 
	 12
	  	Miscellaneous Provisions	  	 	77	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of March 21, 2014 by and
among: 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower,
Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with Yi Duan as its legal representative; 

  

	Party B:	 Yi Duan, having its domicile at *****************, Suzhou, Jiangsu Province and holding its ID card No.
******************; 

  

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential
Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal representative. 

 The parties
hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively as the “Parties”. 

Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 31.95% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on March 21, 2014; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on March 21, 2014. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase
Option.     
  

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party	 A: Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party	 B: Yi Duan 

Address: ***************************, Suzhou, Jiangsu Province 

Postal Code: 215125 
 E-mail: duanyi@fangdd.com 

	Party	 C: Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Yi Duan and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Yi Duan and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Wei Zhang 
  

	
	Signature: 
	/s/Wei Zhang

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Yi Duan and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Annex 1 

Purchase Notice 
 To: Yi Duan 

Purchase to the Purchase Option Agreement entered by you and Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) dated March 21,
2014, we hereby inform you and require you to transfer _____% equity interest of the Company held by you to _______________________ at a consideration of ____________. Upon your receipt of this notice, you are required to sign the Equity Interest
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.
		
	(signature)	 	 

 
			
		
	Date:	 	 

 Purchase Notice (Asset) 

To: Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) 

Pursuant to the Purchase Option Agreement entered by and between you and the Company on March 21, 2014, we hereby notify you and require you to
transfer the asset_______________ owned by you to ___________________ at a consideration of ______________ (in accordance with the name, type, quantify and model of the asset). Upon your receipt of this notice, you are required to sign the Asset
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!	 	
	
	Shenzhen Fangdd Information Technology Co, Ltd.
		
	(signature)	 	 

 
			
		
	Date:	 	 

 Annex 2 

Abandonment of the Right of First Refusal 

Shenzhen Fangdd Network Technology Co, Ltd. (“Fangdd”) is a limited liability company established on October 10, 2011. As a
legally registered shareholder, I, currently hold 31.95% of the equity interest of Fangdd. I agree and undertake to waive, in a permanent and irrevocable manner, my right to purchase all or part of the remaining equity interest of Fangdd (the date
of this statement and the future changes from time to time) and will not impede the transfer of such equity interests in any way. 
  

			
	Declarant: Yi Duan
		
	Signature:	 	   

 
			
		
	Date	 	 

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Jiancheng Li 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 March 2014 

 Table of Contents 
  

							
	 1
	  	Purchase Option	  	 	87	 
	 2
	  	Undertakings of Party B and Party C	  	 	89	 
	 3
	  	Representations and Warranties of Party B and Party C	  	 	92	 
	 4
	  	Breach of Contract	  	 	92	 
	 5
	  	Assignment	  	 	93	 
	 6
	  	Entry into Force and Term	  	 	94	 
	 7
	  	Termination	  	 	94	 
	 8
	  	Taxes and Fees	  	 	94	 
	 9
	  	Confidentiality Obligations	  	 	94	 
	 10
	  	Notices	  	 	95	 
	 11
	  	Governing Law and Dispute Resolution	  	 	96	 
	 12
	  	Miscellaneous Provisions	  	 	96	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of March 21, 2014 by and
among: 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower,
Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with Yi Duan as its legal representative; 

  

	Party B:	 Jiancheng Li, having its domicile at *****************, Shenzhen, Guangdong Province and holding its ID card
No. ******************; 

  

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential
Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal representative. 

 The parties
hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively as the “Parties”. 

Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 19.75% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on March 21, 2014; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on March 21, 2014. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase
Option.     
  

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party	 A: Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party	 B: Jiancheng Li 

Address: ***************************, Shenzhen, Guangdong Province 

Postal Code: 518000 
 E-mail: jcl@fangdd.com 

	Party	 C: Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jiancheng Li and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jiancheng Li and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Jiancheng Li 
  

	
	Signature: 
	/s/Jiancheng LI

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jiancheng Li and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Annex 1 

Purchase Notice 
 To: Jiancheng Li

 Purchase to the Purchase Option Agreement entered by you and Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) dated
March 21, 2014, we hereby inform you and require you to transfer             % equity interest of the Company held by you to
                                         
            at a consideration of                         . Upon
your receipt of this notice, you are required to sign the Equity Interest Transfer Agreement on the Purchase Option Agreement and transfer the above assets to
                                    . 

Sincerely, 
  

							
		 		 	Salute!
			
		 		 	Shenzhen Fangdd Information Technology Co, Ltd.
				
		 		 	(signature)	 	 

							
				
		 		 	Date:	 	 

 Purchase Notice (Asset) 

To: Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) 

Pursuant to the Purchase Option Agreement entered by and between you and the Company on March 21, 2014, we hereby notify you and require you to
transfer the asset                                 owned by you to
                                        
at a consideration of                                  (in accordance with the
name, type, quantify and model of the asset). Upon your receipt of this notice, you are required to sign the Asset Transfer Agreement on the Purchase Option Agreement and transfer the above assets to
                                    . 

Sincerely, 
  

							
		 		 	Salute!
			
		 		 	Shenzhen Fangdd Information Technology Co, Ltd.
				
		 		 	(signature)	 	 

							
				
		 		 	Date:	 	 

 Annex 2 

Abandonment of the Right of First Refusal 

Shenzhen Fangdd Network Technology Co, Ltd. (“Fangdd”) is a limited liability company established on October 10, 2011. As a
legally registered shareholder, I, currently hold 19.75% of the equity interest of Fangdd. I agree and undertake to waive, in a permanent and irrevocable manner, my right to purchase all or part of the remaining equity interest of Fangdd (the date
of this statement and the future changes from time to time) and will not impede the transfer of such equity interests in any way. 
  

			
	Declarant: Jiancheng Li
		
	Signature:	 	 

 
			
		
	Date	 	 

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Jiaorong Pan 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 March 2014 

 Table of Contents 
  

							
	1	  	 Purchase Option
	  	 	106	 
	2	  	 Undertakings of Party B and Party C
	  	 	108	 
	3	  	 Representations and Warranties of Party B and Party C
	  	 	111	 
	4	  	 Breach of Contract
	  	 	111	 
	5	  	 Assignment
	  	 	112	 
	6	  	 Entry into Force and Term
	  	 	113	 
	7	  	 Termination
	  	 	113	 
	8	  	 Taxes and Fees
	  	 	113	 
	9	  	 Confidentiality Obligations
	  	 	113	 
	10	  	 Notices
	  	 	114	 
	11	  	 Governing Law and Dispute Resolution
	  	 	115	 
	12	  	 Miscellaneous Provisions
	  	 	115	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of March 21, 2014 by and
among: 
  

			
	Party A:	 	Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower, Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with
Yi Duan as its legal representative;
		
	Party B:	 	Jiaorong Pan, having its domicile at *****************, Suzhou, Jiangsu Province and holding its ID card No. ******************;
		
	Party C:	 	Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal
representative.

 The parties hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively
as the “Parties”. 
 Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 2.66% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on March 21, 2014; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on March 21, 2014. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase Option. 

 

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party	 A: Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party	 B: Jiaorong Pan 

Address: ***************************, Suzhou, Jiangsu Province 

Postal Code: 215125 
 E-mail: panjiaorong@fangdd.com 

 Party C: Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement.     

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jiaorong Pan and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jiaorong Pan and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 
  

	
	Jiaorong Pan
	
	Signature: 
	/s/Jiaorong Pan

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Jiaorong Pan and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Annex 1 

Purchase Notice 
 To: Jiaotong Pan

 Purchase to the Purchase Option Agreement entered by you and Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) dated
March 21, 2014, we hereby inform you and require you to transfer _____% equity interest of the Company held by you to _______________________ at a consideration of ____________. Upon your receipt of this notice, you are required to sign the
Equity Interest Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
  

							
	Sincerely,	 		 	Salute!
			
		 		 	Shenzhen Fangdd Information Technology Co, Ltd.
				
		 		 	(signature)	 	 

							
				
		 		 	Date:	 	 

 Purchase Notice (Asset) 

To: Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) 

Pursuant to the Purchase Option Agreement entered by and between you and the Company on March 21, 2014, we hereby notify you and require you to
transfer the asset_______________ owned by you to ___________________ at a consideration of ______________ (in accordance with the name, type, quantify and model of the asset). Upon your receipt of this notice, you are required to sign the Asset
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
  

							
	Sincerely,	 		 	Salute!
			
		 		 	Shenzhen Fangdd Information Technology Co, Ltd.
				
		 		 	(signature)	 	 

							
				
		 		 	Date:	 	 

 Annex 2 

Abandonment of the Right of First Refusal 

Shenzhen Fangdd Network Technology Co, Ltd. (“Fangdd”) is a limited liability company established on October 10, 2011. As a
legally registered shareholder, I, currently hold 2.66% of the equity interest of Fangdd. I agree and undertake to waive, in a permanent and irrevocable manner, my right to purchase all or part of the remaining equity interest of Fangdd (the date of
this statement and the future changes from time to time) and will not impede the transfer of such equity interests in any way. 
  

			
	Declarant: Jiaorong Pan
		
	Signature:	 	 

 
			
		
	Date 	 	 

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Ying Lu 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 March 2014 

 Table of Contents 
  

							
	 1
	  	Purchase Option	  	 	125	 
	 2
	  	Undertakings of Party B and Party C	  	 	127	 
	 3
	  	Representations and Warranties of Party B and Party C	  	 	130	 
	 4
	  	Breach of Contract	  	 	130	 
	 5
	  	Assignment	  	 	131	 
	 6
	  	Entry into Force and Term	  	 	132	 
	 7
	  	Termination	  	 	132	 
	 8
	  	Taxes and Fees	  	 	132	 
	 9
	  	Confidentiality Obligations	  	 	132	 
	 10
	  	Notices	  	 	133	 
	 11
	  	Governing Law and Dispute Resolution	  	 	134	 
	 12
	  	Miscellaneous Provisions	  	 	134	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of March 21, 2014 by and
among: 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower,
Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with Yi Duan as its legal representative; 

 

	Party B:	 Ying Lu, having its domicile at *****************, Shenzhen, Guangdong Province and holding its ID card No.
******************; 

  

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential
Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal representative. 

 The parties
hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively as the “Parties”. 

Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 0.9% of the equity interests of Party C (“equity interests”)
as a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on March 21, 2014; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on March 21, 2014. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase Notice”) in
the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase Option. 

 

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, to procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will or may materially
affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents (hereinafter
referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents; 

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party	 A: Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party	 B: Ying Lu 

Address: ***************************, Shenzhen, Guangdong Province 

Postal Code: 518053 
 E-mail: luying@fangdd.com 

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Ying Lu and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
 Signature of
Legal Representative: 

	
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Ying Lu and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Ying Lu 
 Signature:  

	
	/s/Ying Lu

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Ying Lu and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have personally
executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
 Signature of
Legal Representative: 

	
	/s/Yi Duan
	Yi Duan

 Annex 1 

Purchase Notice 
 To: Ying LU 

Purchase to the Purchase Option Agreement entered by you and Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) dated March 21,
2014, we hereby inform you and require you to transfer _____% equity interest of the Company held by you to _______________________ at a consideration of ____________. Upon your receipt of this notice, you are required to sign the Equity Interest
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.

 
			
		
	(signature)	 	   

 
			
		
	Date:	 	   

 Purchase Notice (Asset) 

To: Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) 

Pursuant to the Purchase Option Agreement entered by and between you and the Company on March 21, 2014, we hereby notify you and require you to
transfer the asset_______________ owned by you to ___________________ at a consideration of ______________ (in accordance with the name, type, quantify and model of the asset). Upon your receipt of this notice, you are required to sign the Asset
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.

 
			
		
	(signature)	 	   

 
			
		
	Date:	 	   

 Annex 2 

Abandonment of the Right of First Refusal 

Shenzhen Fangdd Network Technology Co, Ltd. (“Fangdd”) is a limited liability company established on October 10, 2011. As a
legally registered shareholder, I, currently hold 0.9% of the equity interest of Fangdd. I agree and undertake to waive, in a permanent and irrevocable manner, my right to purchase all or part of the remaining equity interest of Fangdd (the date of
this statement and the future changes from time to time) and will not impede the transfer of such equity interests in any way. 
  

			
	Declarant: Ying LU

 
			
		
	Signature:	 	   

 
			
		
	Date	 	   

 Purchase Option Agreement 

Among 
 Shenzhen Fangdd
Information Technology Co, Ltd., 
 (Purchase Option Holder) 

Wentao Bai 
 (Purchase Option
Obligor) 
 And 
 Shenzhen
Fangdd Network Technology Co, Ltd., 
 March 2014 

 Table of Contents 
  

							
	1	  	 Purchase Option
	  	 	144	 
	2	  	 Undertakings of Party B and Party C
	  	 	146	 
	3	  	 Representations and Warranties of Party B and Party C
	  	 	149	 
	4	  	 Breach of Contract
	  	 	149	 
	5	  	 Assignment
	  	 	150	 
	6	  	 Entry into Force and Term
	  	 	151	 
	7	  	 Termination
	  	 	151	 
	8	  	 Taxes and Fees
	  	 	151	 
	9	  	 Confidentiality Obligations
	  	 	151	 
	10	  	 Notices
	  	 	152	 
	11	  	 Governing Law and Dispute Resolution
	  	 	153	 
	12	  	 Miscellaneous Provisions
	  	 	153	 

 Option Agreement 

This Option Agreement (“Agreement”) is made in Shenzhen, the People’s Republic of China (“PRC”) as of March 21, 2014 by and
among: 
  

	Party A:	 Shenzhen Fangdd Information Technology Co, Ltd., having its registered office at Room 1805E, West Tower,
Haian Building, Haide 3rd Road, Nanshan District, Shenzhen and with Yi Duan as its legal representative; 

  

	Party B:	 Wentao Bai, having its domicile at *****************, Shenzhen, Guangdong Province and holding its ID card No.
******************; 

  

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd., having its registered office at Room 9E, Commercial Residential
Building, Yihai Square, Chuangye Road North, Nanshan District, Shenzhen and with Yi Duan as its legal representative. 

 The parties
hereto are hereinafter individually referred to as a “Party” or “Other Party” and collectively as the “Parties”. 

Whereas: 
  

	1.	 Party A is a foreign-funded enterprise established in accordance with the laws of the PRC;

  

	2.	 Party C is a limited liability company established in accordance with the laws of the PRC;

  

	3.	 Party B is a Chinese citizen and holds 2% of the equity interests of Party C (“equity interests”) as
a registered shareholder of Party C; 

  

	4.	 Party A, Party B and Party C signed the Equity Interest Pledge Agreement (“Equity Interest Pledge
Agreement”) on March 21, 2014; 

  

	5.	 Party A, Party C and its shareholders signed the Business Operation Agreement (“Business Operation
Agreement”) on March 21, 2014. 

 NOW, THEREFORE, after friendly consultation, the Parties hereby agree as follows: 

 

	1	 Option 

  

	 	1.1	 Grant of option 

Party B hereby irrevocably grants Party A an exclusive option without any additional conditions. According to the purchase option, Party A
shall have the right, in accordance with the exercise steps determined by Party A at its own discretion as permitted by Chinese law, to purchase at any time from Party B or designate one or more persons (“Designated Person(s)”) to purchase
all or part of Party C’s equity interests held by Party B or a proprietary right to all or part of the assets owned by Party C (“Purchase Option”) at the price referred to in Sub-clause 1.3
hereof. Any third parties other than Party A and/or Designated Person(s) shall not have the Purchase Option. The term “person” stipulated in this Agreement shall include individuals, corporations, joint ventures, partnerships, firms,
trusts or unincorporated organizations. 
  

	 	1.2	 Exercise steps 

Party A and/or Designated Person(s) may exercise the Purchase Option by giving Party B a written notice (the “Purchase 

Notice”) in the form set out in Annex I hereto, specifying the equity interests to be purchased from Party B (“Purchased Equity
Interests”) or the total amount of assets to be purchased from Party C and the purchase method. 

 Within seven (7) working days after receipt of the Purchase Notice by Party B, Party B
shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) according to the requirements of the Purchase Notice, or Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s)
according to the requirements of the Purchase Notice, as the case may be, to determine the transfer of the purchased equity interests or assets to Party A and/or Designated Person(s) as soon as possible. 

 

	 	1.3	 Purchase price 

  

	 	1.3.1	 When Party A exercises the Purchase Option, unless the applicable laws and regulations of the PRC at that time
require an assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, the purchase price of the Purchased Equity Interests (“Equity Interest Purchase
Price”) or the purchase price of the purchased assets (“Asset Purchase Price”) shall be subject to the nominal or symbolic price; if the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A do
not permit the transfer at the nominal or symbolic price, the Equity Interest Purchase Price shall be equal to the original investment price (“Original Investment Price”) paid by Party B for the Purchased Equity Interests, and the Asset
Purchase Price shall be equal to the book value of the assets. 

  

	 	1.3.2	 If the laws and regulations of the PRC applicable to the exercise of the Purchase Option by Party A require an
assessment of the purchased equity interests or assets or impose other restrictive provisions on the price of the equity interests or assets, Party A and Party B agree that the purchase price shall be the minimum price permitted by the applicable
law. If the minimum price permitted by the applicable law is higher than the Original Investment Price of the Purchased Equity Interests and the book value of the purchased assets, Party B shall reimburse Party A the full excess amount after
deduction of all taxes paid by Party B in accordance with the applicable laws and regulations of the PRC. 

  

	 	1.4	 Transfer of purchased equity interests or assets 

Whenever Party A exercises the Purchase Option after giving a Purchase Notice under this Agreement, 

	 	1.4.1	 Party B shall instruct Party C to promptly hold a shareholders’ meeting at which the adoption of a
resolution shall be facilitated to approve the transfer of equity interests by Party B to Party A and/or Designated Person(s) and the transfer of assets by Party C to Party A and/or Designated Person(s); 

 

	 	1.4.2	 Party B shall sign a waiver of the right of preemption as set out in Annex II hereto to express its consent to
waive the right of preemption to any other equity interests of Party C; 

  

	 	1.4.3	 Party B shall enter into a equity interest transfer contract with Party A and/or Designated Person(s) in
respect of each transfer in accordance with this Agreement and the Purchase Notice on the Purchased Equity Interests; 

  

	 	1.4.4	 Party C shall enter into an asset transfer contract with Party A and/or Designated Person(s) in respect of each
transfer in accordance with this Agreement and the Purchase Notice on the purchased assets; 

  

	 	1.4.5	 The Parties hereto shall sign all other necessary contracts, agreements or documents, obtain all necessary
government approvals and consents and take all necessary actions to give the effective ownership of the Purchased Equity Interests to Party A and/or Designated Person(s) and to make Party A and/or Designated Person(s) the registered owner of the
Purchased Equity Interests in the administrative department for industry and commerce (if applicable) without any security interest, and such equity interests or assets shall not be attached with any third-party interest. In this sub-clause and this Agreement, the term “security interest” shall include guarantees, mortgages, pledges, third-party rights or interests, any equity interest options, acquisition rights, pre-emptive rights, rights of set-off, retention of title or other security arrangements but exclude any security interests arising under the Equity Interest Pledge
Agreement. 

  

	 	1.4.6	 Party B and Party C shall unconditionally assist Party A in obtaining all government approvals, permissions,
registrations and filings required to transfer the purchased equity interests and assets and completing all necessary procedures. 

  

	 	1.5	 Payment 

The payment of the purchase price shall be determined through consultation between Party A and/or Designated Person(s) and Party B in
accordance with the law applicable to the exercise of the Purchase Option, and shall be expressly agreed upon in the equity interest transfer contract or the asset transfer contract signed at the time of each exercise of the Purchase Option. 

 

	2	 Undertakings of Party B and Party C 

 

	 	2.1	 Without the prior written consent of Party A, they shall not supplement, modify or amend Party C’s
constitutional documents in any form, increase or decrease their registered capital or otherwise change their registered capital structure; 

  

	 	2.2	 Without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of
their legal or beneficial interest in any equity or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement other than any pledges created on Party C’s equity interests according to the
Equity Interest Pledge Agreement; 

	 	2.3	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to approve the sale, transfer, mortgage or otherwise disposal of its legal or beneficial interest in any equity or to permit the creation of any other security interest thereon other than to Party A or its
Designated Person(s); 

  

	 	2.4	 Party B and Party C agree that Party A may transfer all its rights and obligations under this Agreement to any
third parties by giving a written notice to Party B and Party C without further permission from Party B or its shareholders. 

  

	 	2.5	 Without the prior written consent of Party A, Party B shall not vote for or support or sign any resolution at a
shareholders’ meeting of Party C to authorize Party C to merge or associate with any persons or to acquire or invest in any persons; 

  

	 	2.6	 They shall, in accordance with good financial and commercial standards and practices, maintain Party C’s
existence, operate and handle Party C’s business and affairs in a prudent and effective manner and ensure that all business is carried on throughout the normal course of business to maintain the value of Party C’s assets, and shall not
have any acts/omissions sufficient to affect Party C’s operating conditions and the value of its assets; 

  

	 	2.7	 Without the prior written consent of Party A, they shall not have any acts and/or omissions which may have any
material impact on Party C’s assets, operations and responsibilities; without the prior written consent of Party A, they shall not sell, assign, mortgage or otherwise dispose of its legal or beneficial interest in any of Party C’s assets,
business or income or permit the creation of any other security interest thereon at any time from the date of signing of this Agreement; 

  

	 	2.8	 Without the prior written consent of Party A, Party C shall not incur, inherit, secure or permit the existence
of any debts other than (i) those arising in the normal or ordinary course of business rather than through borrowing; and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

 

	 	2.9	 Without the prior written consent of Party A, Party C shall not enter into any major contracts other than those
entered into in the normal course of business (for the purposes of this paragraph, if a contract is valued at more than USD0.3 million (USD300,000.00), it shall be deemed to be a major contract); 

 

	 	2.10	 Without the prior written consent of Party A, Party C shall not grant loans or credit to any persons other than
other receivables or capital allocations arising in the normal course of business of Party C; 

  

	 	2.11	 Without the prior written consent of Party A, Party B shall not appoint or remove any directors, supervisors or
other managers of Party C which should be appointed or removed by Party B. 

	 	2.12	 At Party A’s request, they shall provide Party A with any information about Party C’s operation and
financial position; 

  

	 	2.13	 If requested by Party A, Party C shall purchase and hold insurance from an insurance company acceptable to
Party A. The amount and type of insurance to be maintained shall be the same as the amount and type of insurance usually effected by companies which carry on and own any business and property or assets similar to those of Party C in the same area;

  

	 	2.14	 Party A shall be notified immediately of any action, arbitration or administrative proceedings which will or
may occur in relation to the ownership of Party B’s equity interests and Party C’s assets, business and income; 

  

	 	2.15	 In order to maintain Party B’s ownership of the equity interests, they shall sign all necessary or
appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.16	 In order to maintain Party C’s ownership of all its assets, they shall sign all necessary or appropriate
documents, take all necessary or appropriate actions and make all necessary or appropriate claims or make all necessary and appropriate defences against all claims; 

 

	 	2.17	 Without the prior written consent of Party A, Party C shall not pay dividends in any form to its shareholders,
provided that Party C shall immediately distribute its distributable profits to its shareholders in whole or in part upon Party A’s written request. 

  

	 	2.18	 They shall cause their shareholders’ meeting to vote in favor of the transfer of the Purchased Equity
Interests as stipulated in this Agreement; 

  

	 	2.19	 At Party A’s request, they shall appoint any persons nominated by Party A as directors and senior managers
of Party C; 

  

	 	2.20	 Party B shall exercise all its rights as a shareholder of Party C only with the written authorization of Party
A and at the request of Party A; 

  

	 	2.21	 They shall strictly comply with this Agreement and other contracts signed by Party B, Party C and Party A
jointly or individually and earnestly perform their obligations under such contracts, and shall not have any acts/omissions sufficient to affect the validity and enforceability of such contracts; 

 

	 	2.22	 Party B undertakes that it shall not make or authorize others (including but not limited to any directors of
the company nominated by Party B) to make in any way any resolutions, instructions, agreements or orders, and that it shall not procure party C to engage in any transactions (hereinafter referred to as “Prohibited Transactions”) that will
or may materially affect the assets, rights, obligations or business of Party C (including its branches, subsidiaries and affiliates), and that it shall not enter into any agreements, contracts, memorandums or other forms of transaction documents
(hereinafter referred to as “Prohibited Documents”) in respect of such Prohibited Transactions, nor shall it have any omissions to allow the conduct of any Prohibited Transactions or the signing of any Prohibited Documents;

	 	2.23	 Within the term of this Agreement, Party B shall use its best efforts to develop Party C’s business and
guarantee the operation of Party C in conformity with the laws and regulations, and Party B shall not have any acts or omissions which may damage the assets and goodwill of Party C (including its subsidiaries) or affect the validity of Party
C’s business license. 

  

	3	 Representations and Warranties of Party B and Party C 

Party B and Party C, on the date of signing of this Agreement and on each date of transfer, hereby represents and warrants to Party A as
follows: 
  

	 	3.1	 they shall have the power to execute and deliver this Agreement and any equity interest transfer contract or
asset transfer contract (each referred to as “Transfer Contract”) to which they are a party or which is entered into by them according to this Agreement in respect of each transfer of the purchased equity interests or assets and to perform
their obligations under this Agreement and any Transfer Contract. Once signed, this Agreement and each Transfer Contract to which they are a party shall constitute their legal, valid and binding obligations and may be enforced against them in
accordance with the provisions hereof and thereof; 

  

	 	3.2	 Neither the execution and delivery of this Agreement or any Transfer Contract nor the performance of their
obligations under this Agreement or any Transfer Contract shall (i) result in any violation of the relevant laws and regulations of the PRC; (ii) conflict with their articles of association or other constitutional documents;
(iii) result in or constitute a breach of any contracts or instruments to which they are a party or which are binding upon them; (iv) result in any violation of any conditions for the grant and/or continued validity of any license or
approval granted to them; or (v) cause any licence or approval granted to them to be suspended, revoked or attached with additional conditions; 

  

	 	3.3	 Party C shall have good and marketable title to all its assets and has not created any security interest on
such assets as mentioned above; 

  

	 	3.4	 Party C has not had any outstanding debts other than (i) those arising in its normal course of business;
and (ii) those which have been disclosed to Party A and approved by Party A in writing; 

  

	 	3.5	 Party C shall comply with all laws and regulations of the PRC applicable to asset acquisition;

  

	 	3.6	 There are no ongoing or pending actions, arbitration or administrative proceedings which may occur in relation
to Party B’s equity interests, Party C’s assets or the company; 

  

	 	3.7	 Party B shall have good and marketable full title to the equity interests owned by it and has not created any
security interest on such equity interests other than the security interests as stipulated in the Equity Interest Pledge Agreement. 

  

	4	 Breach of Contract 

 

	 	4.1	 If any breach by any party (“Breaching Party”) of any provisions of this Agreement will cause damage
to the other parties (“Non-Breaching Party”), the Non-Breaching Party may give a written notice to the Breaching Party, requiring the Breaching Party to remedy
and correct its breach immediately; if the Breaching Party fails to take measures satisfactory to the Non-Breaching Party to remedy and correct its breach within fifteen (15) days from the date on which
the Non-Breaching Party gives the above written notice, the Non-Breaching Party may immediately take any other relief measures in such manners as stipulated in this
Agreement or by legal means. 

	 	4.2	 All of the following events shall constitute Party B’s breach of this Agreement: 

 

	 	4.2.1	 Party B breaches any provisions of this Agreement, or any representations and warranties made by Party B in
this Agreement are materially wrong, false and incorrect. 

  

	 	4.2.2	 Without the prior written consent of Party A, Party B assigns or otherwise transfers or pledges any of its
rights under this Agreement; 

  

	 	4.2.3	 This Agreement and/or the Equity Interest Pledge Agreement become invalid or unenforceable.

  

	 	4.3	 In the event of Party B’s breach of this Agreement or the Equity Interest Pledge Agreement and/or
the Business Operation Agreement, Party A may require Party B to immediately transfer all or any part of the Purchased Equity Interests to Party A and/or Designated Person(s) at the Equity Interest Purchase Price. 

 

	 	4.4	 Once Party A has realized its pledge in accordance with the provisions of Clause 11 of the Equity Interest
Pledge Agreement and has obtained the relevant proceeds and payments from the realization of its pledge, Party B shall be deemed to have fully performed its obligations under this Agreement, and Party A shall not make any further payment request
to Party B therefor. 

  

	 	4.5	 Notwithstanding any other provisions of this Agreement, the validity of Clause 4 hereof shall not be affected
by any termination of this Agreement. 

  

	5	 Assignment 

  

	 	5.1	 Party B shall not assign its rights and obligations under this Agreement to any third parties except with the
prior written consent of Party A. In the event of Party B’s death and loss of its capacity for civil conduct, Party B agrees that it shall immediately assign its rights and obligations under this Agreement to any persons designated by Party A
for succession. 

  

	 	5.2	 This Agreement shall be binding upon Party B and its successors or heirs, and shall be valid for Party A and
each of its successors, heirs or permitted assignees. 

  

	 	5.3	 Party B hereby agrees that Party A shall have the right to assign all its rights and obligations under this
Agreement to any other third parties where necessary. Party A shall only give a written notice to Party B at the time of such transfer and shall not be required to obtain Party B’s consent in respect of such transfer. 

	6	 Entry into Force and Term 

 

	 	6.1	 This Agreement shall be established and enter into force from the date of signing hereof.

  

	 	6.2	 The term of this Agreement shall be ten (10) years unless terminated in advance in accordance with the
provisions of this Agreement or the relevant agreement otherwise concluded by the Parties. The term of this Agreement may be extended after the written confirmation by Party A prior to the expiration of the term of this Agreement, and the extended
term hereof shall be determined by Party A. 

  

	 	6.3	 In the event of the expiration of the operation period of or the termination of Party A or Party C (including
any extensions thereof) for any other reasons within the term hereof set out in Clause 6.2 hereof, this Agreement shall be terminated upon the termination of such party unless Party A has assigned its rights and obligations under this Agreement.

  

	7	 Termination 

  

	 	7.1	 If Party A is unable to exercise its rights in accordance with the provisions of Clause 1 hereof due to the
current applicable law at any time within the term of and any extended term of this Agreement, Party A may decide at its own discretion to unconditionally cancel this Agreement by giving a written notice to Party B without any liability therefor.

  

	 	7.2	 If Party C is terminated due to bankruptcy, dissolution or being ordered to close by law within the term of and
any extended term of this Agreement, Party B’s obligations under this Agreement shall be discharged at the time of termination. 

  

	 	7.3	 Except in the circumstances referred to in Clause 7.2 hereof, in no case shall Party B and Party C require the
termination of this Agreement at any time within the term of and any extended term of this Agreement. 

  

	8	 Taxes and Fees 

Each party hereto shall bear any and all of the taxes and fees incurred by or levied on such Party due to the preparation and signing of this
Agreement and each Transfer Contract and the completion of the transactions contemplated hereunder and thereunder under the laws of the PRC. 
  

	9	 Confidentiality Obligations 

 

	 	9.1	 The Parties acknowledge and determine that any oral or written information exchanged with one another in
relation to this Agreement shall be confidential. The Parties shall keep all such information confidential and shall not disclose any relevant information to any third parties without the written consent of the other parties unless:

  

	 	(a)	 such information has been known to or will be known to the public (without the disclosure thereof by the party
receiving such information to the public without authorization); 

  

	 	(b)	 such information is required to be disclosed by the applicable law or the rules of the stock exchange or the
regulations; or 

	 	(c)	 any Party needs to disclose such information to its legal or financial adviser who is also required to comply
with confidentiality obligations similar to those set forth in this clause in respect of the transactions referred to in this Agreement. Any disclosure of such information by any personnel or employed agency of any Party shall be deemed to be a
disclosure by such Party, and such Party shall be liable for its breach of this Agreement in accordance with this Agreement. This clause shall remain in force whether this Agreement is determined to have been invalid, altered, canceled, terminated
or inoperable for any reason. 

  

	 	9.2	 Upon termination of this Agreement, one party shall, at the request of the other party, return, destroy or
otherwise dispose of all documents, materials or software containing any confidential information and cease the use of such confidential information. 

  

	 	9.3	 Notwithstanding any other provisions of this Agreement, the validity of this Clause 9 shall not be affected by
any termination of this Agreement. 

  

	10	 Notices 

Any notices or other communications given by any Party under this Agreement shall be in writing and shall be delivered by personal delivery,
letter or fax to the address of the other parties as set forth below or such other designated address as may be notified by the other parties to such party from time to time. The date on which any notices are deemed to have been actually delivered
shall be determined as follows: (a) if delivered by personal delivery, they shall be deemed to have been actually delivered on the date of personal delivery; (b) if sent by letter, they shall be deemed to have been actually delivered on
the seventh (7th) day after the date of posting (as indicated by the postmark) of the registered airmail with postage prepaid or on the fourth (4th) day after the delivery to an internationally recognized courier service agency; (c) if sent by
fax, they shall be deemed to have been actually delivered at the time of receipt as shown in the acknowledgement of transmission of the relevant document; and (d) if sent by email, they shall be deemed to have been actually delivered when an
email enters the electronic data interchange system of the email address provided by the party to be served. 
  

	Party	 A: Shenzhen Fangdd Information Technology Co, Ltd. 

Contact: Jiancheng Li 

Correspondence Address: 17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 

Postal Code: 518000 
 Fax:
0755-26998968 
 E-mail: ljc@fangdd.com 

 

	Party	 B: Wentao Bai 

Address: ***************************, Shenzhen, Guangdong Province 

Postal Code: 518054 
 E-mail: wtbai@sharecapital.com 

	Party C:	 Shenzhen Fangdd Network Technology Co, Ltd. 

Contact: Jiancheng Li 
 Address:
17/F, Yanxiang Science and Technology Building, Gaoxinzhong 4th Ave., Nanshan District, Shenzhen 
 Postal Code: 518000 

Fax: 0755-26998968 
 E-mail: ljc@fangdd.com 
  

	11	 Governing Law and Dispute Resolution 

 

	 	11.1	 The conclusion, validity, performance, modification, interpretation and termination and dispute resolution of
this Agreement shall be governed by the laws of the PRC. 

  

	 	11.2	 Any disputes arising out of the performance of this Agreement or in relation to this Agreement shall be
resolved by the Parties through friendly consultation. 

  

	 	11.3	 If an agreement on the resolution of any disputes is not reached within 60 days after a request for the
resolution of such disputes through consultation is made by one Party, any Party may submit such disputes to Hong Kong International Arbitration Centre for resolution through arbitration. The arbitration shall be conducted in accordance with the
arbitration rules of Hong Kong International Arbitration Centre then in force, and the place of arbitration shall be Hong Kong. All proceedings for arbitration shall be conducted in Chinese. The arbitral award shall be final and binding on any Party
hereto, and the Parties agree that they shall be bound by and comply with the arbitral award. When any disputes arising are being arbitrated, the Parties shall exercise and perform their other rights and obligations under this Agreement other than
the matters in dispute. 

  

	12	 Miscellaneous Provisions 

 

	 	12.1	 Any headings in this Agreement are for the convenience of reading only and shall not be used to interpret,
explain or otherwise affect the meaning of the provisions of this Agreement. 

  

	 	12.2	 The Parties acknowledge that once this Agreement enters into force, this Agreement shall constitute an entire
agreement and understanding among the Parties hereto in respect of the contents of this Agreement, and shall completely supersede all prior oral and/or written agreements and understandings among the Parties in relation to the contents of this
Agreement. 

  

	 	12.3	 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs,
successors and permitted assignees. 

  

	 	12.4	 No rights, powers and remedies conferred on each party by any provisions of this Agreement shall preclude any
other rights, powers or remedies enjoyed by such party in accordance with the law and other provisions of this Agreement, and no exercise by one party of its rights, powers and remedies shall preclude any exercise by such party of its other rights,
powers and remedies. 

  

	 	12.5	 No failure by any party hereto in the exercise or prompt exercise of any rights, powers and remedies enjoyed by
such party in accordance with this Agreement or the law shall be deemed to be a waiver of such rights or affect any future exercise by such party of such rights in other ways and any exercise by such party of its other rights. 

	 	12.6	 If any provisions of this Agreement are held to be null and void, invalid or unenforceable by any court with
jurisdiction or arbitration agency, the validity and enforceability of any other provisions of this Agreement shall not be affected or impaired thereby, provided that the Parties hereto shall cease to perform such invalid and unenforceable
provisions and shall, to the extent closest to their original intent, amend them only to the extent that they are valid and enforceable in respect of such particular facts and circumstances. 

 

	 	12.7	 The Parties hereto agree and acknowledge that “the (prior) written consent of Party A” referred to
herein shall mean that the matters shall be approved by the Board of Directors of Party A and be notified to Party B and Party C in accordance with the provisions of Clause 10 hereof. 

 

	 	12.8	 Any matters not covered herein shall be determined through further consultation among the Parties hereto. The
Parties shall amend and supplement this Agreement by a written agreement. Any amendment and supplementary agreements duly signed by the Parties shall form an integral part of this Agreement and shall have the same legal effect as this Agreement.

  

	 	12.9	 This Agreement is executed in three (3) copies, one (1) of which shall be held by each party
respectively, and each of which shall be equally authentic. 

  

	 	12.10	 Any annexes hereto shall form an integral part of this Agreement and shall have the same legal effect as this
Agreement. 

 (The remainder of this page is intentionally left blank) 

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Wentao Bai and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Information Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Information Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 (This page is intentionally left blank as the signature page of the Purchase Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Wentao Bai and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Wentao Bai 
  

	
	Signature:
	/s/Wentao Bai

 (This page is intentionally left blank as the signature page of the Exclusive Option Agreement among
Shenzhen Fangdd Information Technology Co, Ltd., Wentao Bai and Shenzhen Fangdd Network Technology Co, Ltd.) 
 IN WITNESS WHEREOF, the Parties have
personally executed or caused their respective legally authorized representative to execute this Agreement at such place and date as first written above. 

Shenzhen Fangdd Network Technology Co, Ltd. (Seal) 

/s/Shenzhen Fangdd Network Technology Co, Ltd. 
  

	
	Signature of Legal Representative:
	/s/Yi Duan
	Yi Duan

 Annex 1 

Purchase Notice 
 To: Wentao Bai 

Purchase to the Purchase Option Agreement entered by you and Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) dated March 21,
2014, we hereby inform you and require you to transfer _____% equity interest of the Company held by you to _______________________ at a consideration of ____________. Upon your receipt of this notice, you are required to sign the Equity Interest
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.
		
	(signature)	 	   

 
			
		
	Date:	 	 

 Purchase Notice (Asset) 

To: Shenzhen Fangdd Network Technology Co, Ltd. (the “Company”) 

Pursuant to the Purchase Option Agreement entered by and between you and the Company on March 21, 2014, we hereby notify you and require you to
transfer the asset_______________ owned by you to ___________________ at a consideration of ______________ (in accordance with the name, type, quantify and model of the asset). Upon your receipt of this notice, you are required to sign the Asset
Transfer Agreement on the Purchase Option Agreement and transfer the above assets to __________________. 
 Sincerely, 

 

			
	Salute!
	
	Shenzhen Fangdd Information Technology Co, Ltd.
		
	(signature)	 	   

 
			
		
	Date:	 	 

 Annex 2 

Abandonment of the Right of First Refusal 

Shenzhen Fangdd Network Technology Co, Ltd. (“Fangdd”) is a limited liability company established on October 10, 2011. As a
legally registered shareholder, I, currently hold 2% of the equity interest of Fangdd. I agree and undertake to waive, in a permanent and irrevocable manner, my right to purchase all or part of the remaining equity interest of Fangdd (the date of
this statement and the future changes from time to time) and will not impede the transfer of such equity interests in any way. 
  

			
	Declarant: Wentao Bai
		
	Signature:	 	   

 
			
		
	Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]