Token Cat Ltd Stock Price, News & Analysis

TuanChe Limited (NASDAQ: TC) received a deficiency letter from Nasdaq on February 17, 2023, indicating non-compliance with the minimum bid price requirement of $1.00 per American Depositary Share (ADS) for 30 consecutive business days. The Company has until August 16, 2023, to regain compliance. If compliant for at least 10 consecutive business days during this period, Nasdaq will confirm compliance. If not, TuanChe may qualify for an additional 180 days to comply, provided it meets other listing standards. Despite the deficiency, the letter does not affect the Company’s operations or SEC reporting requirements.

TuanChe Limited (NASDAQ: TC), a prominent automotive marketplace in China, has appointed Mr. Wei Wen as the acting Chief Financial Officer, effective February 17, 2023. This interim role is part of the company's ongoing search for a permanent CFO. TuanChe connects automotive consumers with industry players, offering integrated marketing and transaction services through online and offline platforms. This strategic move aims to maintain operational efficiency during the transition period in leadership.

TuanChe Limited (NASDAQ: TC) announced the immediate resignation of Deputy CFO Chenxi Yu due to personal reasons, with no reported disagreements with the company. The Board is actively seeking a replacement to fill this key financial position. Founded in 2010, TuanChe is a prominent integrated automotive marketplace in China, connecting consumers with automakers and dealers, and enhancing marketing efficiency through data analytics and online platforms.

TuanChe Limited (NASDAQ:TC) announced a $15 million registered direct offering, with Aegis Capital Corp. serving as the exclusive placement agent. Established in 2010, TuanChe is a recognized integrated automotive marketplace in China, connecting consumers with automakers and dealers, enhancing advertising effectiveness through advanced digital marketing. This funding aims to bolster TuanChe's operations and expand its services, ensuring growth in the competitive automotive sector.

TuanChe Limited (NASDAQ: TC), a prominent automotive marketplace in China, has successfully closed a registered direct offering, raising approximately $15 million. The offering involved the sale of 5,454,546 American Depositary Shares (ADSs) and accompanying warrants at a price of $2.75 per ADS. Each warrant, exercisable for five years, allows investors to acquire one ADS at the same price. The offering was executed under an effective shelf registration statement and managed by Aegis Capital Corp.

TuanChe Limited (NASDAQ: TC) has signed a strategic cooperation agreement with IAT Automobile Technology Co., Ltd. to enhance its capabilities in new energy vehicles (NEVs). This partnership aims to leverage IAT's expertise in vehicle R&D and manufacturing, focusing on customized vehicle development and key component R&D. According to TuanChe's CEO, this collaboration will expedite the development of NEV models and solidify TuanChe's position in the growing NEV market in China. IAT, with over 13 years of experience in battery electric vehicle R&D, will support TuanChe's mission to deliver high-quality NEVs.

TuanChe Limited (NASDAQ: TC) held its 2022 Annual General Meeting of Shareholders on November 4, 2022. At the meeting, shareholders approved a resolution ratifying the appointment of Marcum Asia CPAs LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022. TuanChe is a leading integrated automotive marketplace in China, connecting consumers with automakers, dealers, and service providers through online and offline services.

TuanChe Limited (NASDAQ: TC) has signed a strategic cooperation agreement with Beijing S-TECH Technology to develop and market new energy vehicles (NEVs). This partnership enables TuanChe to leverage S-TECH's advanced technologies in vehicle research, development, and manufacturing. The collaboration aims to enhance TuanChe's market competitiveness and expedite its time to market in the NEV sector. With increasing consumer demand for NEVs and intelligent features, TuanChe is optimistic about expanding its diverse offerings on its retail platform, benefiting from S-TECH's expertise in vehicle innovation.

TuanChe Limited (NASDAQ: TC) has signed a strategic cooperation agreement with YangMing New Energy Technology to enhance its research capabilities in EV battery development and strengthen its supply chain. The partnership aims to advance ultra-safe solid-state batteries and solar power systems, leveraging YangMing's technological expertise and TuanChe's supply chain management. YangMing plans to establish 20 production lines by 2023, with battery samples already passing safety tests. This collaboration positions TuanChe to meet the growing demand in the new energy vehicle market.