XCHANGE TEC.INC RECEIVES NASDAQ DELISTING DETERMINATION AND PLANS TO APPEAL
XChange TEC.INC (NASDAQ: XHG) has received a delisting determination letter from Nasdaq on May 13, 2025, following its failure to maintain the required minimum Market Value of Listed Securities (MVLS) of $35 million. The company had previously received a notice on November 13, 2024, granting a 180-day compliance period that expired on May 12, 2025.
While the delisting determination will not immediately affect the trading of XHG's American Depositary Shares, the company plans to appeal the decision to a Hearings Panel by May 20, 2025. This appeal will temporarily stay any delisting actions pending the Panel's determination. However, there is no guarantee that the appeal will be successful or that XHG will regain compliance with Nasdaq's listing requirements.
XChange TEC.INC (NASDAQ: XHG) ha ricevuto una lettera di determinazione di esclusione da Nasdaq il 13 maggio 2025, a seguito del mancato mantenimento del valore minimo richiesto di mercato delle azioni quotate (MVLS) di 35 milioni di dollari. La società aveva precedentemente ricevuto un avviso il 13 novembre 2024, che concedeva un periodo di conformità di 180 giorni, scaduto il 12 maggio 2025.
Pur non influenzando immediatamente la negoziazione delle American Depositary Shares di XHG, l'azienda intende presentare ricorso al Hearings Panel entro il 20 maggio 2025. Questo ricorso sospenderà temporaneamente qualsiasi azione di esclusione in attesa della decisione del Panel. Tuttavia, non vi è alcuna garanzia che il ricorso avrà esito positivo o che XHG tornerà a rispettare i requisiti di quotazione di Nasdaq.
XChange TEC.INC (NASDAQ: XHG) recibió una carta de determinación de exclusión de Nasdaq el 13 de mayo de 2025, tras no mantener el Valor de Mercado Mínimo de Valores Cotizados (MVLS) requerido de 35 millones de dólares. La compañía había recibido previamente un aviso el 13 de noviembre de 2024, otorgando un período de cumplimiento de 180 días que expiró el 12 de mayo de 2025.
Aunque la determinación de exclusión no afectará inmediatamente la negociación de las Acciones de Depósito Americanas de XHG, la empresa planea apelar la decisión ante un Panel de Audiencias antes del 20 de mayo de 2025. Esta apelación suspenderá temporalmente cualquier acción de exclusión mientras se espera la decisión del Panel. Sin embargo, no hay garantía de que la apelación tenga éxito o que XHG vuelva a cumplir con los requisitos de cotización de Nasdaq.
XChange TEC.INC (NASDAQ: XHG)는 2025년 5월 13일 나스닥으로부터 상장폐지 결정 통지서를 받았습니다. 이는 최소 상장 증권 시장 가치(MVLS) 3,500만 달러를 유지하지 못했기 때문입니다. 회사는 2024년 11월 13일에 180일의 준수 기간을 부여받았으며, 이 기간은 2025년 5월 12일에 만료되었습니다.
상장폐지 결정은 즉시 XHG의 미국 예탁 증권 거래에 영향을 미치지 않지만, 회사는 2025년 5월 20일까지 심리 패널에 이 결정을 항소할 계획입니다. 이 항소는 패널의 결정이 내려질 때까지 상장폐지 조치를 일시 중단시킵니다. 그러나 항소가 성공할지 또는 XHG가 나스닥 상장 요건을 다시 충족할지는 보장되지 않습니다.
XChange TEC.INC (NASDAQ : XHG) a reçu une lettre de décision de radiation de la part du Nasdaq le 13 mai 2025, suite à son incapacité à maintenir la valeur minimale requise du marché des titres cotés (MVLS) de 35 millions de dollars. La société avait auparavant reçu un avis le 13 novembre 2024, lui accordant une période de conformité de 180 jours, expirée le 12 mai 2025.
Bien que cette décision de radiation n'affectera pas immédiatement la négociation des American Depositary Shares de XHG, la société prévoit de faire appel auprès d'un Hearings Panel avant le 20 mai 2025. Cet appel suspendra temporairement toute action de radiation en attendant la décision du Panel. Cependant, il n'est pas garanti que l'appel sera couronné de succès ni que XHG retrouvera la conformité aux exigences de cotation du Nasdaq.
XChange TEC.INC (NASDAQ: XHG) hat am 13. Mai 2025 ein Schreiben zur Delisting-Entscheidung von der Nasdaq erhalten, nachdem das erforderliche Mindest-Marktkapitalisierungsvolumen (MVLS) von 35 Millionen US-Dollar nicht eingehalten wurde. Das Unternehmen hatte zuvor am 13. November 2024 eine Mitteilung erhalten, die eine 180-tägige Frist zur Einhaltung vorgab, welche am 12. Mai 2025 ablief.
Obwohl die Delisting-Entscheidung den Handel der American Depositary Shares von XHG nicht sofort beeinträchtigt, plant das Unternehmen, bis zum 20. Mai 2025 Berufung bei einem Hearing Panel einzulegen. Diese Berufung wird alle Delisting-Maßnahmen bis zur Entscheidung des Panels vorläufig aussetzen. Es gibt jedoch keine Garantie dafür, dass die Berufung erfolgreich sein wird oder dass XHG die Nasdaq-Listing-Anforderungen wieder erfüllen wird.
- None.
- Failed to maintain minimum Market Value of Listed Securities requirement of $35 million
- Received delisting determination from Nasdaq
- No guarantee of successful appeal or ability to regain compliance
As previously disclosed, the Company received a notice (the "Notice") from the Nasdaq dated November 13, 2024 stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Listed Securities of
The Determination Letter that the Company received on May 13, 2025 states that the Company has not regained compliance with the MVLS Rule, and that the Company's ADSs will be delisted from The Nasdaq Capital Market.
As permitted, the Company intends to appeal the determination to a Hearings Panel (the "Panel") by May 20, 2025, pursuant to the procedures set forth in the Nasdaq Listing Rule, which will stay any further delisting actions through the Panel determination or extension provided. The Company plans to actively address the deficiencies; however, there can be no assurance as to the decision of the Panel or the Company's ability to regain compliance.
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 Securities and Exchange Commission discuss these and other important factors and risks that may affect the Company's business, results of operations and financial conditions. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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SOURCE XChange TEC.INC
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