Tuniu Has Regained Compliance with Nasdaq's Minimum Bid Price Requirement

Rhea-AI Summary

Tuniu (Nasdaq: TOUR), a premier online leisure travel company in China, has regained compliance with Nasdaq's Minimum Bid Price Requirement. This follows the announcement that, for 11 consecutive business days from May 20 to June 3, 2024, Tuniu's American Depositary Shares (ADSs) maintained a closing bid price of at least $1.00. Previously, on January 9, 2024, Tuniu had received a deficiency notice from Nasdaq, indicating that their ADSs' closing bid price was below $1.00 for 30 consecutive business days. With this achievement, Tuniu remains listed on Nasdaq, resolving the compliance issue.

Positive

• Tuniu's ADSs maintained a closing bid price of at least $1.00 for 11 consecutive business days.
• Regaining compliance with Nasdaq's listing rules ensures continued listing on the exchange.
• Stabilized stock price can boost investor confidence and possibly attract new investments.

Negative

• Recent history of falling below Nasdaq's minimum bid price indicates potential volatility in stock performance.
• Failure to maintain the minimum bid price in the future could lead to delisting risks again.

News Market Reaction – TOUR

-0.47%

1 alert

-0.47% News Effect

On the day this news was published, TOUR declined 0.47%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NANJING, China, June 5, 2024 /PRNewswire/ -- Tuniu Corporation (Nasdaq: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it has received a notification letter (the "Compliance Notice") from the Listing Qualifications Department of the Nasdaq Stock Market Inc. ("Nasdaq") dated June 5, 2024, 11 consecutive business days from May 20 through June 4, 2024, informing the Company that it has regained compliance with the Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement").

As previously announced, Tuniu received a notification letter (the "Deficiency Notice") from the Nasdaq dated January 9, 2024 indicating that the closing bid price for the Company's American depositary shares (the "ADSs") was below the minimum bid price of $1.00 required for continued listing under the Nasdaq Listing Rule 5450(a)(1) for 30 consecutive business days. According to the Deficiency Notice, if at any time during the 180-day compliance period, the closing bid price of the Company's ADSs is at least $1.00 for a minimum of ten consecutive business days, the Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. According to the Compliance Notice, the closing bid price of the Company's ADSs has been at $1.00 per ADS or greater for 10 consecutive business days from May 20 through June 3, 2024, and the Company has regained compliance with the Minimum Bid Price Requirement and the matter is closed.

About Tuniu

Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Tuniu may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Tuniu's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but are not limited to the following: Tuniu's goals and strategies; the growth of the online leisure travel market in China; the demand for Tuniu's products and services; its relationships with customers and travel suppliers; Tuniu's ability to offer competitive travel products and services; Tuniu's future business development, results of operations and financial condition; competition in the online travel industry in China; government policies and regulations relating to Tuniu's structure, business and industry; the impact of health epidemics on Tuniu's business operations, the travel industry and the economy of China and elsewhere generally; and the general economic and business condition in China and elsewhere. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tuniu does not undertake any obligation to update such information, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/tuniu-has-regained-compliance-with-nasdaqs-minimum-bid-price-requirement-302165658.html

SOURCE Tuniu

FAQ

What does Tuniu regaining compliance with Nasdaq's Minimum Bid Price Requirement mean?

It means Tuniu's ADSs have maintained a closing bid price of at least $1.00 for 10 consecutive business days, ensuring continued listing on Nasdaq.

When did Tuniu receive the compliance notice from Nasdaq?

Tuniu received the compliance notice on June 5, 2024.

What was the deficiency notice Tuniu received from Nasdaq?

The deficiency notice, received on January 9, 2024, indicated Tuniu's ADSs were below the minimum bid price of $1.00 for 30 consecutive business days.

What are the potential risks for Tuniu if the minimum bid price is not maintained?

Failure to maintain the minimum bid price could lead to delisting from Nasdaq, affecting stock performance and investor confidence.