Jianzhi Education Technology Group Company Limited Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
16 September 2023 - 6:15AM
Jianzhi Education Technology Group Company Limited (the “Company”
or “Jianzhi”) (NASDAQ: JZ), a leading provider of digital
educational content in China, today announced that the Company has
received written notification from the staff of the Listing
Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”)
dated September 12, 2023, indicating that for the last 30
consecutive business days, the closing bid price for the Company’s
American depositary shares (the “ADSs”) was below the minimum bid
price of US$1.00 per share requirement set forth in Nasdaq Listing
Rule 5450(a)(1). The Nasdaq notification letter has no current
effect on the listing or trading of the Company’s securities on the
Nasdaq Global Select Market.
Pursuant to the Nasdaq Listing Rules
5810(c)(3)(A), the Company is provided with a compliance period of
180 calendar days, or until March 11, 2024, to regain compliance
under the Listing Rules. If at any time during the 180-day
compliance period, the closing bid price of the Company’s ADSs is
US$1.00 per share or higher for a minimum of ten consecutive
business days, the Nasdaq will provide the Company written
confirmation of compliance and the matter will be closed.
In the event the Company does not regain
compliance by March 11, 2024, subject to the determination by the
staff of Nasdaq, the Company may be eligible for an additional
180-day compliance period.
The Nasdaq notification letter will have no
effect on the Company’s business operations, and the Company will
take all reasonable measures to regain compliance.
About Jianzhi Education Technology Group
Company Limited
Headquartered in Beijing and established in
2011, Jianzhi is a leading provider of digital educational content
in China and has been committed to developing educational content
to fulfill the massive demand for high-quality, professional
development training resources in China. Jianzhi started operations
by providing educational content products and IT services to higher
education institutions. Jianzhi also provides products to
individual customers. Leveraging its strong capabilities in
developing proprietary professional development training content
and success in consolidating educational content resources within
the industry, Jianzhi has successfully built up a comprehensive,
multi-dimensional digital educational content database which offers
a wide range of professional development products. Jianzhi embed
proprietary digital education content into the self-developed
online learning platforms, which are provided to a wide range of
customers through its omni-channel sales system. Jianzhi is also
fully committed to the digitalization and informatization of the
education sector in China. For more information, please visit:
www.jianzhi-jiaoyu.com
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about the Company’s beliefs, plans, and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in the
Company’s filings with the SEC. All information provided in this
press release is as of the date of this press release, and the
Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please
contact:
Janice WangWealth Financial Services LLCPhone:
+86 13811768559+1 628 283 9214Email: services@wealthfsllc.com
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