XChange TEC.INC Announces Receipt of Nasdaq Notification of Regaining Listing Compliance
XChange TEC.INC - American Depositary Shares (XHG)
Company Research
Source: PR Newswire
SHANGHAI, Aug. 15, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ: XHG) (the "Company"), today announced that it received two letters, dated August 12 and 14, 2024, respectively, from The Nasdaq Stock Market ("Nasdaq") notifying the Company that it had regained compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market (the "Bid Price Rule").As previously announced by the Company via a press release on April 9, 2024, the Company received a notice from Nasdaq dated April 3, 2024, stating that the Company was not in compliance with the Bid Price Rule. However, Nasdaq Listing Rule 5810(c)(3)(A) provides the Company a compliance period of 180 calendar days, during which if the closing bid price of the Company's American Depositary Shares ("ADSs") is at least $1.00 per ADS for a minimum of ten consecutive business days, Nasdaq would provide a written confirmation of compli
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