Danke Releases China Residential Rental Industry's First Company Standard for Indoor Air Quality

BEIJING,May 14,2020 -- Phoenix Tree Holdings Limited ("Danke" or the "Company") (NYSE: DNK),one of the largest co-living platforms in China with the fastest growth,released its indoor air quality control standard for co-living apartments,which is the first such standard set by an individual company in China's residential rental industry.

The Co-living Apartment Indoor Air Quality Control Standard was jointly developed by Danke and the China Environmental United Certification Center (CEC),a state-owned enterprise affiliated with the Ministry of Ecology and Environment of China. The standard was evaluated and approved by cross-industry experts from the China Academy of Building Research,Beijing Real Estate Agency Association,Beijing Building Materials Testing Academy,China National Institute of Standardization,and Beijing Gangyuan Architectural Decoration Engineering Co.,Ltd.

"Air quality and a safe living environment are major concerns for our residents," said Jiang Qiang,vice president of Danke. "With this standard,we aim to create a safe,healthy,and comfortable indoor living environment for our residents and to drive the green and sustainable development of the co-living rental industry in China."

Zhao Qingxiang,secretary general of Beijing Real Estate Agency Association,believes that Danke's standard is a key milestone for China's residential rental industry. "For consumers,this standard can help enhance their trust in Danke and satisfaction with Danke products," said Zhao. "For peers,Danke is leading the industry with its social responsibility. For government organizations,Danke's standard provides a reference for market supervision."

Danke's standard for indoor air quality control consists of five sections,including sourcing and design,procurement of materials,renovation and furnishing,inspection,and maintenance.

Sourcing and design: The sourced apartments should meet requirements on formaldehyde concentration. Renovation designs must ensure proper ventilation for each room.

Procurement of materials: Danke imposes strict control over the procurement of materials and products,such as decoration materials,painted panels,floors,curtain and other fabric materials.

Renovation and furnishing: Construction should meet the requirements of the design,and use materials and products that are high-quality,safe and environmental friendly.

Inspection: Danke conducts a comprehensive internal inspection for each apartment and qualified third-parties will be hired for selective inspections to ensure air quality.

Maintenance: Danke has detailed maintenance requirements for unoccupied apartments and rented apartments.

Before its official release,the standard was put to trial use at Danke for more than six months. In developing its own company-set standard,Danke referred to the Co-living Apartment Interior Decoration Pollution Control Technology Community Standard that was developed by the Shenzhen Association for Quality,with full participation from Danke.

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. Founded in 2015,Danke now operates apartments in 13 major cities around the country.

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