SHANGHAI, Nov. 29,
2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ: XHG)
(the "Company"), today announced that it has received a notice (the
"Compliance Notice") from The Nasdaq Stock Market LLC ("Nasdaq")
dated November 26, 2024 stating that
the Company has regained compliance with the requirement to
maintain a minimum bid price of $1
per share as set forth under Nasdaq Listing Rule 5550(a)(2) (the
"Bid Price Rule") for continued listing on The Nasdaq Capital
Market.
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 U.S. 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.
View original
content:https://www.prnewswire.com/news-releases/xchange-tecinc-receives-nasdaq-notice-of-regaining-compliance-302318294.html
SOURCE XChange TEC.INC