Danke Supports College Graduates in Renting Affordable Apartments

BEIJING,April 24,2020 -- Phoenix Tree Holdings Limited ("Danke" or the "Company") (NYSE: DNK),one of the largest co-living platforms in China with the fastest growth,is proud to support the "Zhiwei College Graduates Career Development Initiative 2020" and leverage its resources to ease the pressures on college graduates from finding housing while they are seeking employment.

Danke has been the exclusive strategic rental platform partner for three consecutive years for "Zhiwei College Graduates Career Development Initiative". As a non-profit project,the initiative brings together government organizations,colleges and universities,enterprises and charities to support college graduates in finding jobs,renting affordable apartments,and fitting into society.

China will have a record high of 8.74 million college graduates this year. With the COVID-19 pandemic sweeping China and the world,college graduates are facing severe challenges in seeking employment and renting apartments. The Chinese government already announced a series of policies to encourage employment for college graduates,such as subsidies for micro,small and medium sized enterprises to hire college graduates and requirements for state-owned companies to recruit more graduates.

"Each year Danke is investing a significant amount of resources to help college graduates find affordable apartments and ease their pressure in the process of seeking employment," said Guangjing He,vice president of Danke. "To overcome the challenges this year caused by the pandemic,Danke has launched a complete renting solution for college graduates,including zero deposit with monthly payment and free switch of apartments."

Danke also provides more supports for graduates in Wuhan,the center of the coronavirus outbreak. When the lockdown was lifted in the city on April 8,many college graduates from the city were facing a dilemma. They wanted to go back to the city for internships or to look for jobs,but they had no place to stay as their dormitories remained closed. Danke helped these students to search for apartments and to sign contracts online,while also offering rent discounts,so these graduates could come back to Wuhan and move right into their new homes.

Under the guidelines from the China Children's Press & Publication Group and China Reform Foundation,"Zhiwei College Graduates Career Development Initiative" was launched by K618.cn,a news portal for the young generation,and supported by many companies,including Danke,Zhaopin,Weibo,TAL Education,NIO,and Hop Hing Fast Food Group.

As a leading co-living platform in China,Danke pioneered an innovative ''new rental'' business model,which features centralization,standardization and online experience to address the numerous pain points suffered by both individual property owners and renters. Danke provides affordable rental options to college-educated young people and save them the trouble of subletting by offering quality co-living apartment units.

ABOUT DANKE

Danke,is redefining the residential rental market through technology and aims to help people live better. Empowered by data,technology,and a large-scale apartment network,Danke's vibrant and expanding ecosystem connects and benefits property owners,residents,and third-party service providers,and delivers quality and best-in-class services through an innovative "new rental" business model featuring centralization,standardization,and a seamless online experience. Danke was founded in 2015 and is headquartered in Beijing,China. For more information,please visit ir.danke.com.

CONTACTS

Danke PR

Email: pr@danke.com

Jeff Pei

ICR,Inc.

Email: Jianfeng.pei@icrinc.com

Phone: +86 (10) 6583-7514

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