Haoxi Health Technology Limited Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
Rhea-AI Summary
Haoxi Health Technology (HAO) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received formal notification from Nasdaq confirming compliance with Listing Rule 5550(a)(2), which mandates maintaining a minimum bid price of $1.00 per share for Class A ordinary shares.
The compliance was achieved after HAO's closing bid price remained at or above $1.00 per share for ten consecutive business days, spanning from January 27, 2025, to February 7, 2025. With this achievement, the bid price deficiency matter has been resolved and closed.
Positive
- Regained Nasdaq listing compliance, eliminating delisting risk
- Maintained share price above $1.00 for required compliance period
- Successfully resolved bid price deficiency issue
Negative
- Previous trading below $1.00 threshold indicates recent share price weakness
Insights
HAO's successful compliance with Nasdaq's minimum bid price requirement represents a critical regulatory milestone that substantially reduces near-term delisting risk. This development carries several important implications for investors:
- The sustained trading above
$1.00 for 10 consecutive days demonstrates improved market confidence and price stability, particularly significant for a small-cap company in the competitive online marketing sector. - Maintaining Nasdaq listing status preserves important benefits including market visibility, trading liquidity and access to institutional investors - essential elements for potential future capital raising.
- For Chinese companies listed on U.S. exchanges, maintaining listing compliance is particularly significant amid heightened regulatory scrutiny, serving as a positive signal of corporate governance and operational stability.
While this regulatory hurdle has been cleared, investors should note that the company must continue maintaining compliance with all Nasdaq listing requirements, including minimum bid price, to ensure long-term market presence. The resolution of this compliance issue allows management to refocus on operational execution and growth strategies in their core online marketing business.
BEIJING, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Haoxi Health Technology Limited (the “Company” or “HAO”), an online marketing solution provider headquartered in Beijing, China, today announced that it received a formal notification from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company’s Class A ordinary shares, par value US
The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s Ordinary Shares has been at
About Haoxi Health Technology Limited
Haoxi Health Technology Limited is an online marketing solution provider headquartered in Beijing, China, specializing in serving healthcare industry advertiser clients. The Company’s growth is driven by the rise of news feed ads and the rapid development of the healthcare sector. The Company offers one-stop online marketing solutions, especially in online short video marketing, helping advertisers acquire and retain customers on popular platforms in China, such as Toutiao, Douyin, WeChat, and Sina Weibo. The Company is dedicated to reducing costs, increasing efficiency, and providing easy online marketing solutions to advertisers. For more information, please visit: http://ir.haoximedia.com .
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, underlying assumptions, and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's forecast on market trends; the Company's future business development; the demand for and market acceptance for new services; expectation to receive customer orders for new services; the anticipated timing for the marketing and sales of new solutions; changes in technology; the Company's ability to attract and retain skilled professionals; client concentration; and general economic conditions affecting the Company's industry and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email: services@wealthfsllc.com
Phone: +86 13811768599
+1 628 283 9214
FAQ
What was the minimum bid price requirement HAO needed to meet for Nasdaq compliance?
How long did HAO need to maintain the minimum bid price to regain compliance?
What happens now that HAO has regained Nasdaq compliance?
When did HAO receive formal notification of compliance from Nasdaq?
