Jianzhi Education Technology Receives Nasdaq Notification Regarding Minimum Market Value Deficiency
Rhea-AI Summary
Jianzhi Education Technology Group Company (NASDAQ: JZ), a leading digital educational content provider in China, has received a notification from Nasdaq regarding non-compliance with the minimum market value requirement. The company's market value of publicly held shares fell below the required $5 million threshold for 30 consecutive business days from June 12 to July 26, 2024.
Jianzhi has been given until January 22, 2025, to regain compliance by maintaining a market value above $5 million for at least 10 consecutive business days. If unsuccessful, the company may face delisting but can appeal or consider transferring to the Nasdaq Capital Market. The notification does not immediately affect Jianzhi's listing or business operations.
Positive
- None.
Negative
- Market value of publicly held shares fell below $5 million
- Risk of potential delisting from Nasdaq Global Select Market
- 180-day compliance period may lead to uncertainty for investors
News Market Reaction 1 Alert
On the day this news was published, JZ gained 881.25%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BEIJING, July 31, 2024 (GLOBE NEWSWIRE) -- Jianzhi Education Technology Group Company Limited (the “Company” or “Jianzhi”) (NASDAQ: JZ), a leading provider of digital educational content in China, today announced it has received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) Listing Qualifications Department on July 26, 2024, notifying the Company is not in compliance with the minimum market value requirement set forth in Nasdaq Listing Rules for continued listing on the Nasdaq Global Select Market. Nasdaq Listing Rule 5450(b)(1)(C) requires companies to maintain a minimum market value of publicly held shares of at least US
The Notification Letter does not impact the Company’s listing on The Nasdaq Global Select Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided 180 calendar days, or until January 22, 2025, to regain compliance with Nasdaq Listing Rule 5450(b)(1)(C). To regain compliance, the Company’s market value of publicly held shares must exceed US
In the event that the Company does not regain compliance by January 22, 2025, the Company will receive written notification that its American depositary shares representing ordinary shares (“ADSs”) are subject to delisting and the Company may appeal the delisting determination to a Hearing’s Panel. Alternatively, the Company may consider applying to transfer the ADSs to The Nasdaq Capital Market.
The Company’s business operations are not affected by the receipt of the Notification Letter.
About Jianzhi Education Technology Group Company Limited
Headquartered in Beijing and established in 2011, Jianzhi is a leading provider of digital educational content in China and has been committed to developing educational content to fulfill the massive demand for high-quality, professional development training resources in China. Jianzhi started operations by providing educational content products and IT services to higher education institutions. Jianzhi also provides products to individual customers. Leveraging its strong capabilities in developing proprietary professional development training content and success in consolidating educational content resources within the industry, Jianzhi has successfully built up a comprehensive, multi-dimensional digital educational content database which offers a wide range of professional development products. Jianzhi embeds proprietary digital education content into the self-developed online learning platforms, which are provided to a wide range of customers through its omni-channel sales system. Jianzhi is also fully committed to the digitalization and informatization of the education sector in China. For more information, please visit: www.jianzhi-jiaoyu.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Janice Wang
WFS Investor Relations
Phone: +86 13811768559
+1 628 283 9214
Email: services@wealthfsllc.com
FAQ
What is the minimum market value requirement Jianzhi Education (JZ) failed to meet?
When does Jianzhi Education (JZ) need to regain compliance with Nasdaq's market value requirement?
What options does Jianzhi Education (JZ) have if it fails to regain compliance by the deadline?
How can Jianzhi Education (JZ) regain compliance with Nasdaq's market value requirement?
