AZI Regains Compliance with Nasdaq Minimum Bid Price Requirement

Autozi Internet Technology (AZI), a Chinese automotive products and services company, has successfully regained compliance with Nasdaq's minimum bid price requirement.

Rhea-AI Summary

Autozi Internet Technology (AZI), a Chinese automotive products and services company, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received a compliance notice from Nasdaq on May 16, 2025, confirming that its Class A ordinary shares maintained a closing bid price of $1.00 or higher for 14 consecutive business days from April 28 through May 15, 2025.

This development resolves the previous non-compliance notification received on February 5, 2025, when AZI failed to maintain the minimum $1.00 bid price over 30 consecutive business days. The matter is now officially closed.

Positive

• Successfully regained Nasdaq compliance, eliminating delisting risk
• Maintained share price above $1.00 for 14 consecutive business days

Negative

• Previously failed to maintain minimum bid price requirement, indicating historical price weakness

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BEIJING, May 20, 2025 /PRNewswire/ -- Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) ("Autozi" or the "Company"), an automotive products and services company in China, today announced that it has received a written notice (the "Compliance Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated May 16, 2025, informing the Company that it has regained compliance with the minimum bid price requirement set forth under the Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement").

As previously announced, the Company was notified by Nasdaq on February 5, 2025 that the Company's Class A ordinary shares failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days.

According to the Compliance Notice, the Company regained compliance with the Minimum Bid Price Requirement because the closing bid price of the Company's Class A ordinary shares has been at $1.00 per share or greater for 14 consecutive business days, from April 28 through May 15, 2025, and the matter is now closed.

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.

Contact Information

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

View original content:https://www.prnewswire.com/news-releases/azi-regains-compliance-with-nasdaq-minimum-bid-price-requirement-302460247.html

SOURCE Autozi Internet Technology (Global) Ltd.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was the minimum bid price requirement that AZI needed to meet for Nasdaq compliance?

AZI needed to maintain a closing bid price of $1.00 or higher per share for at least 14 consecutive business days to meet Nasdaq's minimum bid price requirement.

When did AZI regain compliance with Nasdaq's listing requirements?

AZI regained compliance during the period from April 28 through May 15, 2025, as confirmed by Nasdaq's notice dated May 16, 2025.

Why was AZI at risk of delisting from Nasdaq?

AZI was at risk because it failed to maintain a minimum bid price of $1.00 over 30 consecutive business days, as notified by Nasdaq on February 5, 2025.

What does regaining Nasdaq compliance mean for AZI shareholders?

Regaining compliance means AZI will continue to be listed on Nasdaq, maintaining market accessibility for shareholders and eliminating the risk of delisting.