AZI Received Nasdaq Notification Regarding Minimum Market Value Deficiency

Rhea-AI Summary

Autozi Internet Technology (AZI) has received a notification from Nasdaq dated March 25, 2025, indicating non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement of $50,000,000 on the Nasdaq Global Market. The deficiency was observed during the period from February 10, 2025 to March 24, 2025.

The company has been granted a 180-day grace period until September 22, 2025 to regain compliance by maintaining an MVLS of $50,000,000 or more for at least ten consecutive business days. If compliance is not achieved by the deadline, AZI may face delisting unless it transfers to The Nasdaq Capital Market.

Despite this notification, AZI's listing status remains active, and the company expressed confidence in its core business fundamentals and position in China's automotive services market, emphasizing its focus on operational optimization and value creation through its supply chain cloud platform and SaaS solutions.

Positive

• 180-day grace period granted to regain compliance
• Current listing status remains active on Nasdaq Global Market
• Option available to transfer to Nasdaq Capital Market if needed

Negative

• Risk of potential delisting from Nasdaq Global Market due to market value deficiency
• Company's market value has fallen below required $50,000,000 minimum threshold
• Sustained market value decline for 30 consecutive business days

BEIJING, March 28, 2025 /PRNewswire/ -- Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) ("Autozi" or the "Company"), a automotive products and services company in China, today announced that it has received written notification (the "Notification Letter") from The Nasdaq Stock Market LLC ("Nasdaq") dated March 25, 2025, notifying the Company that it is not in compliance with the minimum Market Value of Listed Securities (MVLS) of $50,000,000. Nasdaq Listing Rule 5450(b)(2)(A) requires a company that has its primary equity security listed on the Nasdaq Global market to maintain a minimum Market Value of Listed Securities (MVLS) of $50,000,000, and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure to meet the market value requirement exists if the deficiency continues for a period of last 30 consecutive business days. Based on the market value of the Company for the 30 consecutive business days from February 10, 2025 to March 24, 2025, the Company no longer meets the requirement of minimum Market Value of Listed Securities (MVLS).

The Notification Letter does not impact the Company's listing on The Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been provided 180 calendar days, or until September 22, 2025, to regain compliance with the market value requirement. To regain compliance, the Company's MVLS must close at $50,000,000 or more for a minimum of ten consecutive business days during the compliance period of 180 calendar days. If the Company does not regain compliance by September 22, 2025 or transfer to The Nasdaq Capital Market, the Company will receive written notification that its securities are subject to delisting. 

The Company intends to monitor its market value of publicly held shares between now and September 22, 2025 and intends to cure the deficiency within the prescribed grace period. During this time, the Company expects that its Class A ordinary shares will continue to be listed and traded on The Nasdaq Global Market.

Notwithstanding the Notification Letter, the Company remains confident in its core business fundamentals and its position in the automotive services market in China. Autozi's advanced supply chain cloud platform and SaaS solutions continue to create tangible value for both customers and partners, supporting the Company's long-term growth strategy. Management is focused on operational optimization, disciplined execution, and prudent capital allocation, all with the goal of driving sustainable value for Autozi's shareholders. The Company believes that these efforts will position Autozi for continued success and expansion in the years ahead.

About Autozi

Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, including but not limited to statements related to Autozi's cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend," "ought to," "plan," "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company's beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

The Blueshirt Group
Jack Wang
Email: Jack@blueshirtgroup.co 

View original content:https://www.prnewswire.com/news-releases/azi-received-nasdaq-notification-regarding-minimum-market-value-deficiency-302414241.html

SOURCE Autozi Internet Technology (Global) Ltd.

FAQ

What is the deadline for AZI to regain Nasdaq compliance?

AZI has until September 22, 2025 to regain compliance by maintaining a market value of listed securities of $50,000,000 or more for at least 10 consecutive business days.

What happens if AZI fails to meet Nasdaq's minimum market value requirement by the deadline?

If AZI doesn't regain compliance by September 22, 2025 or transfer to The Nasdaq Capital Market, it will receive written notification that its securities are subject to delisting.

What is the minimum market value requirement AZI needs to maintain on Nasdaq Global Market?

AZI must maintain a minimum Market Value of Listed Securities (MVLS) of $50,000,000 on the Nasdaq Global Market.

When did AZI receive the Nasdaq deficiency notification?

AZI received the written notification from Nasdaq on March 25, 2025, based on market value deficiency observed from February 10, 2025 to March 24, 2025.