ByteDance Affiliate Invests in Property Brokerage

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On October 4th, 2021, according to Tianyancha App, Beijing Fuwang Property Brokerage Co., Ltd., had made a registration change with the Industrial and Commercial Administration, adding Beijing Haofangxun Information Technology Co., Ltd., an affiliated company of ByteDance, as its shareholder with a shareholding ratio of 100%.

The legal representative of Beijing Fuwang Property Brokerage Co., Ltd., had changed from Wu Cunsheng to Wang Fengkun, and its former investor Beijing Golden Wheat Field Real Estate Agency Co., Ltd., had withdrawn.

Xingfuli, a real estate trading platform subsidiary of ByteDance, said that ByteDance only acquired one company owned by Golden Wheat Field Real Estate Agency Co., Ltd., not the latter itself, which had always been a partner of ByteDance.

Beijing Fuwang Property Brokerage Co., Ltd. was established in December 2016 with a registered capital of 1 million yuan ($155,123), whose business scope includes real estate brokerage, commercial and office building rental, professional contracting, and property management.

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Xingfuli is a second-hand housing service platform developed in 2019 and is mainly operational online instead of offline. After taking over the housing resources of Golden Wheat Field, another second-hand housing intermediary, Xingfuli would be able to open up an offline business service. At present, the logo of Golden Wheat Field has already appeared in the pop-up window of Xingfuli’s App.