XChange TEC.INC RECEIVES NASDAQ NOTICE OF REGAINING COMPLIANCE
Rhea-AI Summary
XChange TEC has received a notice from Nasdaq confirming its regained compliance with the minimum bid price requirement of $1 per share for continued listing on The Nasdaq Capital Market. This follows a previous notice of non-compliance received on November 8, 2024. With the new Compliance Notice received on November 26, 2024, the company's American Depositary Shares will continue to be listed and traded on Nasdaq.
Positive
- Regained Nasdaq listing compliance, eliminating delisting risk
- Maintained listing on Nasdaq Capital Market
Negative
- Previously failed to meet minimum bid price requirement
News Market Reaction
On the day this news was published, XHG gained 6.49%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
As previously announced by the Company, on November 8, 2024, the Company received a notice from Nasdaq stating that the Company was not in compliance with the Bid Price Rule. With the receipt of the Compliance Notice from Nasdaq on November 26, 2024, the Company is now in compliance with The Nasdaq Capital Market's listing requirements, and the Company's American Depositary Shares will continue to be listed and traded on Nasdaq.
About XChange TEC.INC
XChange TEC.INC, through its subsidiaries and consolidated variable interest entities, operates insurance agency and insurance technology business. The insurance agency is PRC-licensed and operates nationwide in the PRC with a wide range of insurance products underwritten by major insurance companies, including industry leading and/or state-owned property and casualty insurance companies as well as certain regional property and casualty insurance companies in the PRC. The insurance technology business is focused on operating and developing insurance technology in the PRC, including developing SaaS platform to connect consumers and underwriting support.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. The Company's actual results may differ materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. The reports filed by the Company with the
View original content:https://www.prnewswire.com/news-releases/xchange-tecinc-receives-nasdaq-notice-of-regaining-compliance-302318294.html
SOURCE XChange TEC.INC
FAQ
When did XHG regain Nasdaq compliance?
What was the minimum bid price requirement XHG needed to meet for Nasdaq?
When did XHG receive the initial Nasdaq non-compliance notice?
