BEIJING, May 20, 2022
/PRNewswire/ -- Yiren Digital Ltd. ("Yiren Digital" or the
"Company") (NYSE: YRD), a leading digital personal financial
management platform in China, today announced that it received
a notice from NYSE Regulation indicating that the Company is not in
compliance with Section 802.01E of the NYSE Listed Company Manual
as a result of its failure to timely file its Annual Report on Form
20-F for the year ended December 31,
2021 (the "2021 Form 20-F") with the Securities and Exchange
Commission (the "SEC").
The Company was not able to file the 2021 Form 20-F by
May 17, 2022, as extended from the
original due date of May 2, 2022
pursuant to the Form 12b-25 submitted to the SEC on April 29, 2022. The delay is primarily because
the financial statements of the Company for the fiscal year ended
December 31, 2021 prepared in
accordance with U.S. GAAP are not yet finalized and the Company
recently changed its independent registered public accounting firm
as disclosed in the Form 6-K furnished to the SEC on April 29, 2022. The Company is making all efforts
to file the 2021 Form 20-F as soon as possible.
NYSE Regulation notified the Company that the NYSE will closely
monitor the status of the Company's late filing and related public
disclosures for up to a six-month period from the due date. If the
Company fails to file its 2021 Form 20-F and any subsequent delayed
filings within six months from the filing due date, the NYSE may,
in its sole discretion, allow the Company's securities to trade for
up to an additional six months depending on specific circumstances,
as outlined in Section 802.01E of the NYSE Listed Company Manual.
It is expected by the NYSE that the Company will submit an official
request for NYSE's consideration at the appropriate time. If the
NYSE determines that an additional six-month trading period is not
appropriate, suspension and delisting procedures will commence
pursuant to Section 804.00 of the NYSE Listed Company Manual. If
the NYSE determines that an additional trading period of up to six
months is appropriate and the Company fails to file its 2021 Form
20-F and any subsequent delayed filings by the end of that period,
suspension and delisting procedures will generally commence.
Regardless of the procedures described above, the NYSE may commence
delisting proceedings at any time during the period that is
available to complete the filing, if circumstances warrant.
About Yiren Digital
Yiren Digital Ltd. is a leading digital personal financial
management platform in China. The
Company provides customized asset allocation services and wealth
management solutions to China's
mass affluent population as well as utilizes online and offline
channels to provide retail credit facilitation services to
individual borrowers and small business owners.
Safe Harbor Statement
This announcement 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. 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 Yiren Digital's control.
Forward-looking statements involve 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, uncertainties as to
Yiren Digital's ability to attract and retain borrowers and
investors on its marketplace, its ability to introduce new loan
products and platform enhancements, its ability to compete
effectively, PRC regulations and policies relating to the
peer-to-peer lending service industry in China, general economic conditions in
China, and Yiren Digital's ability
to meet the standards necessary to maintain listing of its ADSs on
the NYSE or other stock exchange, including its ability to cure any
non-compliance with the NYSE's continued listing criteria. Further
information regarding these and other risks, uncertainties or
factors is included in Yiren Digital'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
Yiren Digital 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.
View original
content:https://www.prnewswire.com/news-releases/yiren-digital-receives-notification-from-nyse-regarding-delayed-form-20-f-filing-301551876.html
SOURCE Yiren Digital