AZI Regains Compliance with Nasdaq Minimum Market Value Requirement

Rhea-AI Summary

Autozi Internet Technology (Nasdaq: AZI), a Chinese automotive products and services company, has successfully regained compliance with Nasdaq's minimum market value requirement. The company received a notification letter from Nasdaq on April 9, 2025, confirming that its market value of listed securities (MVLS) maintained above the required $50,000,000 threshold for ten consecutive business days from March 25 through April 8, 2025.

This development resolves the previous non-compliance notice issued by Nasdaq on March 25, 2025, when AZI failed to meet the minimum MVLS requirement under Nasdaq Listing Rule 5450(b)(2)(A). With the compliance status restored, Nasdaq has closed the matter.

Positive

• Regained Nasdaq listing compliance, eliminating delisting risk
• Maintained market value above $50 million for required period

Negative

• Recent history of falling below minimum market value requirement

BEIJING, April 14, 2025 /PRNewswire/ -- Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) ("Autozi" or the "Company"), an automotive products and services company in China, today announced that the Company had received a notification letter ("Compliance Notice") from the Nasdaq Stock Market LLC ("Nasdaq"), dated April 9, 2025, indicating that the Company has regained compliance with the minimum market value of listed securities ("MVLS") of $50,000,000 set forth in the Nasdaq Listing Rule 5450(b)(2)(A) (the "Rule").

As previously announced, the Company was notified by Nasdaq on March 25, 2025 that the Company was not in compliance with the minimum market value of listed securities ("MVLS") of $50,000,000 for a period of 30 consecutive business days. To regain compliance with the Rule, the Company's MVLS was required to maintain at $50,000,000 or more for a minimum of ten consecutive business days.

On April 9, 2025, Nasdaq confirmed in the Compliance Notice that for the last ten consecutive business days, from March 25 through April 8, 2025, the Company's MVLS has been $50,000,000 or greater. Accordingly, the Company has regained compliance with the Rule, 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.

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-regains-compliance-with-nasdaq-minimum-market-value-requirement-302427368.html

SOURCE Autozi Internet Technology (Global) Ltd.

FAQ

What was the minimum market value requirement that AZI needed to meet for Nasdaq compliance?

AZI needed to maintain a minimum market value of listed securities (MVLS) of $50,000,000 or greater for at least 10 consecutive business days.

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

AZI regained compliance during the period from March 25 through April 8, 2025, as confirmed by Nasdaq on April 9, 2025.

How long was AZI non-compliant with Nasdaq's MVLS requirement?

AZI was notified of non-compliance on March 25, 2025, after failing to maintain the required MVLS for 30 consecutive business days.

What are the implications of AZI regaining Nasdaq compliance for investors?

Regaining compliance means AZI will continue to be listed on Nasdaq, avoiding potential delisting risks and maintaining market accessibility for investors.