Eason Technology Limited Announces NYSE American Removal of Trading Suspension

Rhea-AI Summary

Eason Technology announced that NYSE Regulation has withdrawn its delisting determination and will lift the trading suspension of the company's ADS on the NYSE American. The decision comes after the company's ADS price rose above the minimum threshold required by Section 1003(f)(v) of the NYSE American Company Guide. Trading is expected to resume on January 24, 2025, under the symbol 'DXF' with CUSIP '26605Q304'.

Positive

• Trading suspension removal from NYSE American
• Stock price recovery above minimum listing requirements
• Maintained NYSE American listing status

Negative

• Previous trading suspension indicates recent financial/pricing difficulties

Insights

Financial Markets Expert

The lifting of NYSE American trading suspension marks a important development for Eason Technology. The company has successfully addressed the low selling price concerns that initially triggered the suspension under Section 1003(f)(v) of the NYSE American Company Guide. This regulatory clearance enables renewed trading access to a broader investor base through a major U.S. exchange platform.

The transition from OTC markets (DXFFY) back to NYSE American (DXF) typically enhances trading liquidity and institutional investor accessibility. For micro-cap companies like Eason, with a market cap of $2.17 million, maintaining NYSE American listing compliance is vital for capital market access and corporate visibility. The resumption of trading on January 24th could catalyze increased trading volumes and potentially improve price discovery mechanisms.

In simple terms: Think of this like a store being allowed to reopen in a premium shopping mall after temporarily being forced to sell from a side street. The store (Eason) can now reach more customers (investors) and potentially command better prices for its goods (shares) due to the prestigious location (NYSE American).

HONG KONG, Jan. 17, 2025 /PRNewswire/ -- Eason Technology Limited ("Eason" or the "Company") (OTC: DXFFY), a company engaged in real estate operation management and investment, and digital technology security business, today announced that the staff of NYSE Regulation has withdrawn its delisting determination and will be lifting the trading suspension of the Company's ADS on the NYSE American. The NYSE Regulation staff determined that the Company's ADS was now trading above the threshold of low selling price issues as further defined by Section 1003(f)(v) of the NYSE American Company Guide. The Company's ADS is expected to resume trading on the NYSE American on Friday, January 24, 2025, under the symbol "DXF" and CUSIP "26605Q304."

About Eason Technology Limited

Eason Technology Limited is a company engaged in real estate operation management and investment and digital technology security business in Hong Kong, China. The Company was formerly a licensed microfinance lender serving individuals and SMEs in Hubei Province, China, but has suspended offering loans to its customers since 2020.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

View original content:https://www.prnewswire.com/news-releases/eason-technology-limited-announces-nyse-american-removal-of-trading-suspension-302354488.html

SOURCE Eason Technology Limited

FAQ

When will Eason Technology (DXF) resume trading on NYSE American?

Eason Technology's ADS will resume trading on the NYSE American on Friday, January 24, 2025, under the symbol 'DXF'.

Why was Eason Technology (DXF) previously suspended from NYSE American trading?

The trading suspension was due to low selling price issues as defined by Section 1003(f)(v) of the NYSE American Company Guide.

What requirements did Eason Technology (DXF) meet to resume NYSE American trading?

Eason Technology's ADS price rose above the minimum threshold required by NYSE American's listing requirements, leading to the withdrawal of the delisting determination.

What will be the new trading symbol and CUSIP for Eason Technology on NYSE American?

Eason Technology will trade under the symbol 'DXF' with CUSIP '26605Q304' on the NYSE American.