BEIJING, June 2, 2022
/PRNewswire/ -- Pintec Technology Holdings Limited (Nasdaq: PT)
("PINTEC" or the "Company"), a leading independent
technology platform enabling financial services in China, today announced that it has received a
notification letter from the Listing Qualifications Department of
the Nasdaq Stock Market ("Nasdaq"), informing the Company
that it has regained compliance with the minimum bid price
requirement set forth in Nasdaq Listing Rule 5450(a)(1).
As previously announced, the Company was notified by Nasdaq on
December 9, 2021 that it was not in
compliance with the minimum bid price requirement set forth in
Nasdaq Listing Rule 5450(a)(1), as the closing bid price of the
Company's American Depositary Shares (the "ADSs") had been
below US$1.00 for more than 30
consecutive business days. In order to regain compliance with the
minimum bid price requirement, the Company changed the ratio of the
ADSs representing its ordinary shares from one (1) ADS representing
seven (7) class A ordinary shares to one (1) ADS representing
thirty-five (35) class A ordinary shares. The change of the ADS
ratio became effective on May 16,
2022.
On June 1, 2022, Nasdaq provided
confirmation to the Company that for the last 10 consecutive
business days, from May 16, 2022 to
May 27, 2022, the closing bid price
of the Company's common stock has been at US$1.00 per share or greater. Accordingly, the
Company has regained compliance with Listing Rule 5450(a)(1) and
this matter is now closed.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and as defined in 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," "target," "confident" and similar statements. Among
other things, the quotations from management in this announcement,
as well as PINTEC's strategic and operational plans, contain
forward-looking statements. PINTEC may also make written or oral
forward-looking statements in its periodic reports 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. Such statements are based upon management's current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond the Company's control. Forward-looking
statements involve inherent risks, uncertainties and other factors
that could cause actual results to differ materially from those
contained in any such statements. Potential risks and uncertainties
include, but are not limited to, the Company's limited operating
history, regulatory uncertainties relating to the markets and
industries where the Company operates, and the need to further
diversify its financial partners, the Company's reliance on a
limited number of business partners, the impact of current or
future PRC laws or regulations on wealth management financial
products, and the Company's ability to meet the standards necessary
to maintain the listing of its ADSs on the Nasdaq Global Market,
including its ability to cure any non-compliance with
Nasdaq's continued listing criteria. 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 as of the date of
this press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About PINTEC
PINTEC is a leading independent technology platform enabling
financial services in China. By
connecting business and financial partners on its open platform,
PINTEC enables them to provide financial services to end users
efficiently and effectively. The Company offers its partners a full
suite of customized solutions, ranging from digital retail lending,
digital business lending, robotic process automation, to wealth
management and insurance products. Leveraging its scalable and
reliable technology infrastructure, PINTEC serves a wide range of
industry verticals covering
online travel, e-commerce, telecommunications, online
education, SaaS platforms, financial technology, internet search,
and online classifieds and listings, as well as various types of
financial partners including banks, brokers, insurance companies,
investment funds and trusts, consumer finance companies and other
similar institutions.
For further information, please contact:
Pintec Technology Holdings Ltd.
Phone: +86 (10) 8564-3600
E-mail: ir@pintec.com
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SOURCE Pintec Technology Holdings Limited
